[PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela

[cryptoviagra]

i think they are waiting for the next presidential elections (next sunday)

- if Maduro wins, petrocoin will continue and it will be released soon.

- if Maduro loses, petrocoin buyers are fucked because the U.S. dictatorship will shutdown the petrocoin.
well... the next president start the next year (2019), so... who knows what's going to happen.

coinve, do you think the price of the Petro will always remain the same as the oil price

[coinve]

coinve, do you think the price of the Petro will always remain the same as the oil price?

i don't know what could happen with the petro, i am not a fortune teller.
we are waiting the release of the petro, after that we can discuss about prices.

[cryptoviagra]

That's not what I ask, I asked you what you personally think of the price? I don't believe you don't have an opinion on that...thanks

[coinve]

your question was very clear.
Petro will maintain the same price as the oil price? i really don't know.

---

Nicolas Maduro won the presidential elections.

Arikana Chihombori, Ambassador Of The African Union In Washington, talks about the venezuelan elections.
https://www.youtube.com/watch?v=-nrNtd1bU2s

This is How Venezuelan Electoral System Works
https://www.youtube.com/watch?v=8BLMZFVCDmA

The Venezuelan Landscape, According To Western Media
https://www.youtube.com/watch?v=9y3h-MeljB8

[jgaltt]

So, now after Maduro’s win a new wave of sanctions is about to come, will it affect El Petro?

[kriptokraker]

So, now after Maduro’s win a new wave of sanctions is about to come, will it affect El Petro?

I don’t know why people here ignore the fact that Venezuelan oil industry is having a really hard time at least, whereas this particular crypto is oil-backed. I don’t see how Venezuela will survive a new pack of sanctions

[cryptoviagra]

your question was very clear.
Petro will maintain the same price as the oil price? i really don't know.

---

Nicolas Maduro won the presidential elections.

Arikana Chihombori, Ambassador Of The African Union In Washington, talks about the venezuelan elections.
https://www.youtube.com/watch?v=-nrNtd1bU2s

This is How Venezuelan Electoral System Works
https://www.youtube.com/watch?v=8BLMZFVCDmA

The Venezuelan Landscape, According To Western Media
https://www.youtube.com/watch?v=9y3h-MeljB8

Fantastic videos  , so much ignorants believe fake news...

[taseenb]

The abstention and boycott of US funded mafia opposition didn't work much: they could have won, maybe, if they presented a single candidate. But they are wealthy, white coup plotters and massively corrupted, so they prefer to avoid participating in democracy (with all the excuses we know well). Most of them are paid by the US to boycott democracy, and their own country. So fuck them! Good luck Venezuela!

Maduro was reelected President with 68% of the popular vote = 5.8 million votes (not 100% of the votes counted yet). NOW FIESTA! Y viva el Petro!

Eso es seguro! Todos con Maduro!  

https://www.youtube.com/watch?v=qKFi-Hvg3Rc

https://i.imgur.com/8sFuHle.jpg

https://i.imgur.com/kkuQiuJ.jpg

[coinve]

Venezuela Elects Nicolas Maduro
https://www.youtube.com/watch?v=9thWPaT7C00

Nicolas Maduro Wins Venezuela Elections
https://www.youtube.com/watch?v=5cosNOLtqg8

Russia and China Respects Election Result in Venezuela
https://www.youtube.com/watch?v=fEtbXBFdZLU

[STT]

So, now after Maduro’s win a new wave of sanctions is about to come, will it affect El Petro?

I don’t know why people here ignore the fact that Venezuelan oil industry is having a really hard time at least, whereas this particular crypto is oil-backed. I don’t see how Venezuela will survive a new pack of sanctions

The difficulty Venezuela oil production has is from efficiency and refinement required to be profitable.  Ive heard of alot oil reserves similarly not easy to extract or utilise but any industry depends on an efficient process imo.   It is helped some by the rise in oil prices recently, thats related to the Iran deal and ongoing troubles in Libya and Nigeria.  Both of which are part of OPEC I think though not sure they signed up to the last agreement.
This currency circumvents the sanctions partly because its no longer requiring dollar or Swift clearance to take place.   Thats probably a large part of the incentive because I was pretty sure crypto mining was previously heavily discouraged.  

    I dont know how they can fix the efficiency problem, they have greater leeway now fairly sure but long term thats going to continue to be a factor.  I believe in competitive industry personally not central government solutions

[taseenb]

The ONLY reasons why Venezuelan oil production went down are US boycott and sanctions + oil price collapse since 2014. There are other minor factors (that alone do not justify the numbers though), like the corruption of several people at PDVSA, but that's also being addressed with several investigations and arrests.

Oil production is a business that depends on access to credit: if you cannot get loans from banks it's almost impossible to support the high flow of investments needed to keep production up. Venezuela (which is not in default) has been cut off US banking system and that means:

- No access to loans, like anybody else.
- No access to transactions in USD, like anybody else.

The Venezuelan government has been working around this in the last years in various ways, which include diversification of  the economy and new trade partners. Oil production will go up again, but it will take time. The rise in oil prices in the last months will certainly help.

[Axioman]

http://explorer.nemchina.com/?#/s_account?account=NBC2LLR5W2NSH6MYI7O6PT7OF34CSL55L27ZXTQZ

                

[jakartanthor]

We can clearly see that Maduro’s administration is working on ways to avoid sanctions and improve oil sector, so yeah, I believe we'll see the results sooner or later (better be sooner). Btw El Petro was created for this purpose, am I right?

[aviven]

The ONLY reasons why Venezuelan oil production went down are US boycott and sanctions + oil price collapse since 2014. There are other minor factors (that alone do not justify the numbers though), like the corruption of several people at PDVSA, but that's also being addressed with several investigations and arrests.

Oil production is a business that depends on access to credit: if you cannot get loans from banks it's almost impossible to support the high flow of investments needed to keep production up. Venezuela (which is not in default) has been cut off US banking system and that means:

- No access to loans, like anybody else.
- No access to transactions in USD, like anybody else.

The Venezuelan government has been working around this in the last years in various ways, which include diversification of  the economy and new trade partners. Oil production will go up again, but it will take time. The rise in oil prices in the last months will certainly help.

Considering the fact that Trump has promised tougher sanctions recently, the future you’re talking about might be really distant. That’s what analysts say( not only American though ).

[kriptokraker]

The abstention and boycott of US funded mafia opposition didn't work much: they could have won, maybe, if they presented a single candidate. But they are wealthy, white coup plotters and massively corrupted, so they prefer to avoid participating in democracy (with all the excuses we know well). Most of them are paid by the US to boycott democracy, and their own country. So fuck them! Good luck Venezuela!

Maduro was reelected President with 68% of the popular vote = 5.8 million votes (not 100% of the votes counted yet). NOW FIESTA! Y viva el Petro!

Eso es seguro! Todos con Maduro!  

https://www.youtube.com/watch?v=qKFi-Hvg3Rc

https://i.imgur.com/8sFuHle.jpg

https://i.imgur.com/kkuQiuJ.jpg

Personally, for me these 68% are just numbers. Almost 70% of citizens abstained from voting. So their opinion just kinda didn't count. I know that this thread is not so much about politics but when the opinion of more than half population on such important matter as power is not presented, this just doesn't work. Nunca. Never

[cryptoviagra]

Keep the subject on Elpetro, what's coming ,what's happening will, our investment flourish or not, Maduro and his government won but are being isolated and blackballed, time to manipulate the Petro and put a high price on it for some profits!!!!

[Takada90]

The abstention and boycott of US funded mafia opposition didn't work much: they could have won, maybe, if they presented a single candidate. But they are wealthy, white coup plotters and massively corrupted, so they prefer to avoid participating in democracy (with all the excuses we know well). Most of them are paid by the US to boycott democracy, and their own country. So fuck them! Good luck Venezuela!

Maduro was reelected President with 68% of the popular vote = 5.8 million votes (not 100% of the votes counted yet). NOW FIESTA! Y viva el Petro!

Eso es seguro! Todos con Maduro!  

https://www.youtube.com/watch?v=qKFi-Hvg3Rc

https://i.imgur.com/8sFuHle.jpg

https://i.imgur.com/kkuQiuJ.jpg

Personally, for me these 68% are just numbers. Almost 70% of citizens abstained from voting. So their opinion just kinda didn't count. I know that this thread is not so much about politics but when the opinion of more than half population on such important matter as power is not presented, this just doesn't work. Nunca. Never

That's just bullshit. If people wanted to vote, they'd come and vote. They had other options. And no need to say that if Maduro won then Venezuela is not democracy. They have opposition, too. I don't understand this kind of talk

[STT]

Participation levels in an election is a measure of democracy for sure.   People can skip for various reasons and just not be engaged or the worry is that the population is excluded or in some way filtered like happened with racism in USA at points in its history.   Wider monitoring was really needed from every country of the UN and with thousands of monitors for sure, just one head of an organisation walking around nodding their head to me adds little extra confidence.    This applies to lots of countries, there is no perfect instance and I hear little news coverage especially on Venezuela unfortunately.

Oil production is a business that depends on access to credit: if you cannot get loans from banks it's almost impossible to support the high flow of investments needed to keep production up. Venezuela (which is not in default) has been cut off US banking system and that means:

- No access to loans, like anybody else.
- No access to transactions in USD, like anybody else.

I agree, the financing falling apart will have a large effect but also oil or any commodity to some extent itself is a kind of currency and I have to wonder how these companies with such a large resource ended up not being able to conduct themselves efficently with previous profits and successful extraction.
In China I remember reading how they banned the use of copper as a proxy for currency, it was being held and exchanged to settle bills and this was outlawed.  Of course copper has a history over thousands of years as a currency and the whole crytpo currency phoneomena we are seeing is related to dollars becoming less used and other elements more useful in exchanging value.   I think oil and gold will be part of that, Hugo Chávez thought this about gold I think

[EHEP]

Petro's future price doesn't depend on whether Venezuela's government is good or evil, popular or unpopular, etc.
Petro will be used intensively in purchase of Venezuelan oil, in commodity imports by Venezuela, etc., so demand of Petro will rise as will its price... unless, of course, Venezuela's government issues a larger amount of Petro or it succumbs due to US aggression.

[cryptoviagra]

Petro's future price doesn't depend on whether Venezuela's government is good or evil, popular or unpopular, etc.
Petro will be used intensively in purchase of Venezuelan oil, in commodity imports by Venezuela, etc., so demand of Petro will rise as will its price... unless, of course, Venezuela's government issues a larger amount of Petro or it succumbs due to US aggression.

Thank you for the intresting topic, I been waiting for that subject, do you personally think the price will follow the oil price or it was just an indication?