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

[Edgardfear]

As per this article https://masternode.buzz/petro-coin-ptr-whitepaper-review/, the value of 1 PTR should be around $60. Do you guys think it's realistic ?

As of today, in the real world, a petro should be $ 34.78. Of course, due to hyperflation, it drops daily

At this speed the PTR could be less than 5 $ at 5th novembre.

[1714130512]

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[1714130512]

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[1714130512]

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[1714130512]

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[Axioman]

What do you think a Venezuelan will do if he can buy Petros in BsS and then change it to dollars?    It's obvious


https://noticiasdiarias.com.ve/precio-del-dolar-paralelo-de-hoy-16-de-abril-de-2018/

[coinve]

- it looks like the register is already open.

- blockchain explorer is still not active (link dead).

- about the wallet, for now you can only download the manual.
the wallet was developed using Qt5.
to use the wallet on Linux, you have to install some dependencies.

- it says Petro will be a X11 (PoW/PoS) coin.
some say it will be something like DASH.

- it says Petro will be ¿active? in November.

[STT]

To be fair USA and a few other countries raised costs, especially USA if you wish to revoke citizenship there is an increasingly high exit charge.   The reason for that is the debt and taxes that are liable no matter where you are in the world earning, tax is due to Washington DC so gradually the fee to not pay those taxes for life has been rising roughly in line with the national debt which is now 21 trillion and with 440 billion deficit.
   The main difference is the average wages national for USA is higher and their currency has far more stable worth but its generally true every government is wanting to control tax payers exiting their system more.  I think there is an overall fiscal failure globally, Japan lots of places where as in 2008 it could be described more as company based with some government backing/schemes

Im interested if the proof of stake element to this new proposal is significant incentive for retention of the currency and helps transaction confirmation, does sound an improvement to me over a purely unilateral solution.

[Arnaud]

ok petro for november.

[Axioman]

New error in the white paper, the minimum unit of exchange is not 0.000001 but 0.00000001


https://explorador.petro.gob.ve/tx/c831e3f573409fbbfff5365e171f8fec3c99a666e7d8b5a1e13485154634565c

[Axioman]

Desde el 21 de agosto de 2018 el Banco Central de Venezuela publica cada día hábil bancario la referencia en otras divisas de libre convertibilidad:



                                       Cotización del Petro respecto a otras divisas


Fecha            Yuan      Euro     Lira      Rublo    DólarCAD   Libra   Franco   Rupia     DólarEE.UU
26/10/2018   417,01   52,77   338,18   3 932,93   78,41   46,82   60,00   4 394,40   60,00
25/10/2018   416,76   52,65   340,67   3 923,40   77,97   46,51   59,90   4 392,00   60,00
23/10/2018   417,02   52,32   340,64   3 909,42   78,64   46,24   59,78   4 413,90   60,00
22/10/2018   415,82   52,11   340,61   3 923,73   78,63   45,97   59,80   4 402,80   60,00
19/10/2018   416,31   52,37   339,54   3 951,93   78,47   46,07   59,76   4 412,40   60,00
18/10/2018   415,72   51,99   335,34   3 925,50   77,93   45,68   59,56   4 412,40   60,00
17/10/2018   414,83   51,81   340,46   3 922,81   77,69   45,49   59,41   4 408,20   60,00
16/10/2018   415,23   51,76   347,52   3 940,05   77,84   45,57   59,24   4 426,80   60,00
15/10/2018   413,51   51,75   356,96   3 976,30   78,24   45,34   59,38   4 443,60   60,00


...................But they stopped being dependent on the dollar.....................

[Axioman]

magnificent

https://twitter.com/YManjoud/status/1056586478078304257

[elrippos friend]

What is happening in here 

[STT]

As per this article https://masternode.buzz/petro-coin-ptr-whitepaper-review/, the value of 1 PTR should be around $60. Do you guys think it's realistic ?

As of today, in the real world, a petro should be $ 34.78. Of course, due to hyperflation, it drops daily

I thought the benefit was to be a link to the price of oil or that is not applicable to the plain token just future issuance.   Oil has been going up so in theory isnt that a positive underlying ptr

Overall I just wish this had been left wings unclipped and released into the hands of users.  Crypto should not be unilateral, its by exchange that use accumulates

[nutildah]

What do you think a Venezuelan will do if he can buy Petros in BsS and then change it to dollars?    It's obvious


https://noticiasdiarias.com.ve/precio-del-dolar-paralelo-de-hoy-16-de-abril-de-2018/

Congrats, today's the day you became a Jr Member. If it weren't for his "America is evil" rhetoric then coinve would still be a newbie.

- it looks like the register is already open.

- blockchain explorer is still not active (link dead).

- about the wallet, for now you can only download the manual.
the wallet was developed using Qt5.
to use the wallet on Linux, you have to install some dependencies.

- it says Petro will be a X11 (PoW/PoS) coin.
some say it will be something like DASH.

- it says Petro will be ¿active? in November.

Funny how the government claims they've been paying for things with it for the past 4 months. Also funny how everything keeps getting delayed. Wonder what the reason for the next delay will be. Probably "America" 

[rsarkar]

What do you think a Venezuelan will do if he can buy Petros in BsS and then change it to dollars?    It's obvious


https://noticiasdiarias.com.ve/precio-del-dolar-paralelo-de-hoy-16-de-abril-de-2018/

Congrats, today's the day you became a Jr Member. If it weren't for his "America is evil" rhetoric then coinve would still be a newbie.

- it looks like the register is already open.

- blockchain explorer is still not active (link dead).

- about the wallet, for now you can only download the manual.
the wallet was developed using Qt5.
to use the wallet on Linux, you have to install some dependencies.

- it says Petro will be a X11 (PoW/PoS) coin.
some say it will be something like DASH.

- it says Petro will be ¿active? in November.

Funny how the government claims they've been paying for things with it for the past 4 months. Also funny how everything keeps getting delayed. Wonder what the reason for the next delay will be. Probably "America" 

Petro uses the hash X11 algorithm. It also uses the PoS (Proof of Stake) and PoW (Proof of Work) algorithms for protection.So is it mineable?

[nutildah]

Petro uses the hash X11 algorithm. It also uses the PoS (Proof of Stake) and PoW (Proof of Work) algorithms for protection.So is it mineable?

If it uses X11 then it should be, though it might just be vaporware for all anybody knows.

[Axioman]

Petro copy of uphold


https://uphold.com/

https://www.youtube.com/watch?v=QFgMXRED-KY

[lkjhg]

Petro uses the hash X11 algorithm. It also uses the PoS (Proof of Stake) and PoW (Proof of Work) algorithms for protection.So is it mineable?

If it uses X11 then it should be, though it might just be vaporware for all anybody knows.

it looks like Petro can't be mineable, because it's a combination of those who use the POS and POW algorithms, but it's better to ask one of the Petro Teams here, hopefully your answer will be helped

[nutildah]

As per this article https://masternode.buzz/petro-coin-ptr-whitepaper-review/, the value of 1 PTR should be around $60. Do you guys think it's realistic ?

As of today, in the real world, a petro should be $ 34.78. Of course, due to hyperflation, it drops daily

I thought the benefit was to be a link to the price of oil or that is not applicable to the plain token just future issuance.   Oil has been going up so in theory isnt that a positive underlying ptr

Overall I just wish this had been left wings unclipped and released into the hands of users.  Crypto should not be unilateral, its by exchange that use accumulates

Why do you keep trying to rationalize this coin having any value whatsoever? The coin is "backed" by oil that hasn't been dug out of the ground yet, which requires money for extraction, which Venezuela doesn't have. The price of 1 barrel of oil is about $51 -- its gone down from $60 in February.

The petro went from being a token on NEM to being vaporware; that's not a step up.

C'mon and just tell us the truth -- you bought some petros didn't you? Good luck with that, you're gonna need it.

Petro uses the hash X11 algorithm. It also uses the PoS (Proof of Stake) and PoW (Proof of Work) algorithms for protection.So is it mineable?

If it uses X11 then it should be, though it might just be vaporware for all anybody knows.

it looks like Petro can't be mineable, because it's a combination of those who use the POS and POW algorithms, but it's better to ask one of the Petro Teams here, hopefully your answer will be helped

You're right I forgot that it can't be mined since its supposedly backed by oil in reserves, all of which may not even be there. There are no petro teams here. Never have been. If they stepped foot in this forum they would have their phony intellectual clocks cleaned.

[STT]

I'm just speculating on the potential worth of PTR like I take an interest in many parts of crypto, I'm not a direct investor and in fact I dont think I could do so due to restrictions in my country on trade regarding sanctions and so on.
That doesnt mean I dont think they couldn't have had an effect with this project if it had been done right with a little more openness.   As part of OPEC any turnaround could have been massive and great overall for crypto if they had achieved it, now I dont what is occurring exactly.   Any benefit to me would have been indirect but as its literally the first nationally backed crypto, I did expect big waves were possible across crypto in the implications and respect for what was possible.  I'm very disappointed to hear nothing further

If it were using Proof of stake then I think this would be encouraging over the purely centralised model originally proposed. However I've not seen details of the protocol workings details and Im not reading anyone else having done so either  

Presuming the use of the token allows better access to the global price for oil I was looking at this figure below, I may be failing to account for the particular oil type sold

[Axioman]

Nov 2 2018

President @NicolasMaduro: I am studying a plan that is in progress so that if I as a holder of a certificate in Petro I can convert it into a currency or another cryptocurrency to make any purchase internationally.


-----------------------------------

Now you are studying it

[Axioman]

https://pastebin.com/rSi5fPEb

https://pastebin.com/A0yB0BdF

https://explorador.petro.gob.ve/ext/getlasttxs/0.00000001

https://explorador.petro.gob.ve/address/pM2Q4oySwmUJrw3VEzMWrtEgJMy4Vbv1GK

[coinve]

Funny how the government claims they've been paying for things with it for the past 4 months.

a government can do business in differents ways.
for example, a payment agreement with interests to pay in the future.
in case of the venezuelan goverment:
"i will pay you with interests when the Petro is ready."
"if not, i will pay you with gold or another currency (dolar, euro, yuan, yen, ruble)."
anyway, we don't know for sure how they paid or how was the agreement.

Also funny how everything keeps getting delayed.

the delay was because they were creating a Petro v2.0 using the x11 algorithm and their own blockchain.
after the announce of the new Petro v2.0, they are following the schedule that they announced.

Wonder what the reason for the next delay will be. Probably "America"

we don't know.
U.S. dictatorship is getting worse, crazy and desperate.
youtube: watch?v=RptQBlsDKIc