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

[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.

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?

Supposing that Petro is a merchandise with a fixed (invariable) offer (say 100,000,000 Petros), its price will fluctuate directly (rise or fall) as the demand of Petro rises or falls.
I understand that Venezuela's government has said that if Petro's price, at any moment, falls below the price of a barrel of oil, the Venezuelan government will buy your Petros at the oil price of that moment.

[cryptoviagra]

Intresting, I did not see an article saying that the government would buy the owners Petro if it fall below $60 but that would be good, and if I follow what you say depending the  market the price could skyrocket or flop....

[coinve]

about elections and participation...
Venezuela is more democratic than the U.S. dictatorship.
~20% (1/5) of the United States population (mostly whites) voted for Donald Trump, and he didn't win.
the following images are shocking compared to Venezuela:
voter population char after elections 2016 in United States
comparison of voting population trends in United States
so, shut the fuck up.
this thread is about PETRO !!

[cryptoviagra]

el Petro will be divisible by 100.000.000 units. The minimum exchange unit will be called Mene (0,00000001 PTR).... Somebody can explain why we only received 6 digits after the coma instead of 8 digits as explained in the white paper???

[taseenb]

Personally, for me these 68% are just numbers. Almost 70% of citizens abstained from voting.

False. Participation was 48%. Considering the boycott of the US and their paid Venezuelan politicians, it's a great result. And the opposition knows it very well.

Maduro was elected with a higher percentage of the total eligible voters than Trump and most western leaders.

Calculate what the 68% of 48% is: it's a lot of votes. Sorry.

[taseenb]

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

There are many solutions, Venezuela has an enormous wealth, but of course sanctions and US/EU boycott tries to make it very hard (practically) to trade their resources by isolating them from the global western market. Of course they have excellent relations with all non aligned countries, the largest UN group of countries (which Venezuela leads as they have the presidency).

Venezuela could be a very strong economic power if only the US and Europe allowed them to thrive. It's the old logic of the slave masters, Venezuela in their view must be a colony. The only way is to ignore them and look at the rest of the world with crypto, Yuan and Rubles.

[taseenb]

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?

That is one of the goals of course.

There are others. Petro is not as easy to manipulate towards the US dollar as the Bolivar (even if that will depend on how it will be received by the markets). And like most cryptos is an anti-inflationary currency, because the total number issued cannot change.

[taseenb]

What's the future for Petro?

The greatest problem Venezuela will have to solve with Petro is liquidity. I'm very sorry to say that I start to think that the ICO failed. I still hope to be wrong, but all signs show that the psyops, the brainwashing machine and the isolation of the country worked.

This is due in part to the government responsibility in a very bad management of the process (delegation and execution).
In much larger part of course, it's because of the US boycott, unprecedented, through the media and sanctions specifically targeted at Petro. If it wasn't the case, many investor would have overcome any technical difficulty to put liquidity in Petro.

Failure is never the end, what's important is how you deal with it and if you are able to learn and convert it into a success.

[cryptoviagra]

 And like most cryptos is an anti-inflationary currency, because the total number issued cannot change.[/b]
[/quote]
I don't really get what you're saying here,did you mean unlike most cryptos or you meant like most cryptos it is an inflationary currency?

[cryptoviagra]

What's the future for Petro?

The greatest problem Venezuela will have to solve with Petro is liquidity. I'm very sorry to say that I start to think that the ICO failed. I still hope to be wrong, but all signs show that the psyops, the brainwashing machine and the isolation of the country worked.

This is due in part to the government responsibility in a very bad management of the process (delegation and execution).
In much larger part of course, it's because of the US boycott, unprecedented, through the media and sanctions specifically targeted at Petro. If it wasn't the case, many investor would have overcome any technical difficulty to put liquidity in Petro.

Failure is never the end, what's important is how you deal with it and if you are able to learn and convert it into a success.

The ICO definitely failed, the nem blockchain shows only 200 transactions for maybe 100k dollars...President MADURO barely talks about the Petro again....the presale started in february we soon entering in June without a clear vision ....sad

[aviven]

What's the future for Petro?

The greatest problem Venezuela will have to solve with Petro is liquidity. I'm very sorry to say that I start to think that the ICO failed. I still hope to be wrong, but all signs show that the psyops, the brainwashing machine and the isolation of the country worked.

This is due in part to the government responsibility in a very bad management of the process (delegation and execution).
In much larger part of course, it's because of the US boycott, unprecedented, through the media and sanctions specifically targeted at Petro. If it wasn't the case, many investor would have overcome any technical difficulty to put liquidity in Petro.

Failure is never the end, what's important is how you deal with it and if you are able to learn and convert it into a success.

Started to think about ICO failure when the numbers started to differentiate. That was a bad sign

[jgaltt]

If this discussion got a little bit political, which is understandable, let me point out that there’s a gathering storm of US sanctions, and we will see what happens with El Petro after US implementing them. I know one thing for sure: if Maduro’s administration stops working on El Petro’s promotion and usability, it will rapidly go down

[Takada90]

If this discussion got a little bit political, which is understandable, let me point out that there’s a gathering storm of US sanctions, and we will see what happens with El Petro after US implementing them. I know one thing for sure: if Maduro’s administration stops working on El Petro’s promotion and usability, it will rapidly go down

Venezuela is strong and can resist sanctions. It's fighting an economic war and those imperialist states with their hegemonic idea will see what they are worth when El Petro works for the good of venezuelan people

[jakartanthor]

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

Venezuela had no issues with racism and I believe that attendance at elections 48% is a good number which shows that we truly have democratic nstion.
And I don't understand why half the thread is discussing how dictadura in Venezuela can affect El Petro. What dictadura?

[kriptokraker]

Right, I agree that there's too much talk about elections, but  El Petro and Venezuelan government are inerconnected. Now feels like everything will be according to Maduro's plan and I want to ask you guys what do you think of economic zones using El Petro ? Do you think this idea is worthy?

[apelopus]

Right, I agree that there's too much talk about elections, but  El Petro and Venezuelan government are inerconnected. Now feels like everything will be according to Maduro's plan and I want to ask you guys what do you think of economic zones using El Petro ? Do you think this idea is worthy?

I think it is too early to decide the actual outcomes of this step, although it is definitely meant to be a step forward in terms of usability. What also bothers me is lack of news about El Petro in post-election period, like Maduro hasn’t mentioned it at all. That silence might be a bad sign of some sort

[cryptoviagra]

"source, cryptochannel (in Spanish)"


Pedro Luis Martín Olivares - The government of President Nicolás Maduro was overshadowed in the amount of Petros committed, offering about 130 million of the cryptocurrency for housing projects, a bank, international agreements and the development of industrial zones in several areas of the country , despite the fact that what is established in the technical document of the cryptocurrency indicates that its issuance is 100 million units. During his electoral campaign Maduro ordered the creation of four industrial development zones in the states of Aragua, Zulia, Miranda and Carabobo, and for each of them he offered an investment of 20 million Petros, and in early May he agreed with Palestine to create a binational fund in which Venezuela will place 20 million Petros. Additionally, this month also announced the creation of the Digital Cryptocurrency Bank, for which it allocated 20 million Petros. In March, the president announced that a 2.3 million Petros transfer would be made to the Housing Mission, in order to complete housing solutions in Miranda state. To this we add 8.4 million Petros that, according to the governor of Guárico, José Vásquez, President Maduro approved for agricultural development in that entity.

[cryptoviagra]

Amateurs, ridiculous and laughable lol

[cryptoviagra]

https://www.coindesk.com/crypto-investors-stay-away-venezuelas-petro/

[taseenb]

The game is not over. And for one single reason. Chavistas will be in power for 6 more years, but with even more sanctions and economic war. If they want to survive they need the Petro.

Therefore this is not just a political promise, it's a strategical tool. Without it, they will be even closer to the brink of downfall.
The US know this very well. And chavistas are not giving up, ever, so the fight will be very very hard.

One thing is sure: the government must recognise its difficulties with the project (they certainly did it already) and put the right people/companies to work around all the problems. And relaunch it ASAP. Stop talking about Bolivar and act.