Venezuela and its "Petro" cryptocurrency

[Jackypot]

They believe that the "Petro" currency will raise Venezuela
Personally I do not

[nata777]

They believe that the "Petro" currency will raise Venezuela
Personally I do not

I also think that this cryptocurrency will not raise the country simply a country wants to make money due to the popularity of cryptocurrency

[Hexah]

“I just think it’s a desperate move by a regime that is increasingly isolated and has an economy that has spiraled out of its control,” said Cynthia J. Arnson, director of the Latin American Program at the Woodrow Wilson International Center for Scholars.

Probably I agree of what Arnson says and moreover if I will be one of the investor I would probably in doubt too because as you can see government will maintain the cryptocurrency they're promoting.

But I was astonished that on the very first day of its presale they attract many investors accounting 700+ million dollars of it. Many people are watching closely Venezuela on how they will do and probably if it will be a success I think this will be a genesis to be done by other countries too.

[cryptoatomic]

“I just think it’s a desperate move by a regime that is increasingly isolated and has an economy that has spiraled out of its control,” said Cynthia J. Arnson, director of the Latin American Program at the Woodrow Wilson International Center for Scholars.

Probably I agree of what Arnson says and moreover if I will be one of the investor I would probably in doubt too because as you can see government will maintain the cryptocurrency they're promoting.

But I was astonished that on the very first day of its presale they attract many investors accounting 700+ million dollars of it. Many people are watching closely Venezuela on how they will do and probably if it will be a success I think this will be a genesis to be done by other countries too.

There is no doubt the project has good community support but the thing is,it might be a centralized cryptocurrency too because the government of venezuela will be the ones who are in charge,i have heard that the coin wont be in decentralized exchanges and instead it will be exchange to a government website,it means the centralization will be more dominant like what XRP is.

[bittick]

They believe that the "Petro" currency will raise Venezuela
Personally I do not

Why make you don't believe about that?The crypto backed oil gives you more guarantee to change your crypto to the oil but this looks not something good at all. Especially maduro try to issued another crypto currency backed by gold called petro oro. This something weird for me to see maduro just like a greedy person.

[balrog]

I don't trust this coin , as well as I don't believe Maduro will use crypto for a Venezuela enrichment . I think even if this coin will get some hype and make few x , this profit will be used only for a private investors enrichment.

[hosseinimr93]

I don't think this coin will rise in price. It won't be successful. Why should people trust in Venezuela government and buy this coin?

[Viscera]

It's a good move by the government of Venezeula but ofcourse they are head of state wanted to create token and make profit from it. this a centralize coins controlled by Petro. Well if this will go crazy the economy of Venezuela will rise.

[Jackypot]

I don't think this coin will rise in price. It won't be successful. Why should people trust in Venezuela government and buy this coin?

the biggest problem is that people do not trust the government

[sweeesh]

I dont think i would support a petro related coin.  Im not a scientist but i believe in gloval warming and petro is a huge part of that.  The whole thing seems scammy...first its erc20 then its NEM... also not professional advice but best to invest in non earth destroying things with teams than seem competent...2 cents

[Jackypot]

I dont think i would support a petro related coin.  Im not a scientist but i believe in gloval warming and petro is a huge part of that.  The whole thing seems scammy...first its erc20 then its NEM... also not professional advice but best to invest in non earth destroying things with teams than seem competent...2 cents

You're right, they do not even know where they have to go

[Ale88]

Why should people trust in Venezuela government and buy this coin?

That's exactly what I was thinking. Venezuela has one of the worst "governments" of the world, why should I give them my money? No thanks.

[btcyoda]

It's a good move by the government of Venezeula but ofcourse they are head of state wanted to create token and make profit from it. this a centralize coins controlled by Petro. Well if this will go crazy the economy of Venezuela will rise.

In the previous update they mentioned they have already raised the amount and whether they are going to conduct any further ICO in order to raise more money. Are we have to purchase them in exchanges only?

[Febo]

They believe that the "Petro" currency will raise Venezuela
Personally I do not

I believe Petro currency will raise NEM.
But it did not. 


So far not much was really done they just made some checking the interest. Lets hope they will soon make an ICO.  It will be for the first time made by a country. Small step for Venezuela big leap for blockchain.  But what is happening lately on all fronts is beyond my imagination from 3 years ago. 

[Ali Akbar Torang]

Now it depends from the government how they manage the project and gave the investor their profit, and if this is really work it can benefit both cryptocurrency community and any country that needed econonomic solutions. I personally hopes it works.