Venezuela is about to launch a free cryptocurrency course for every citizen!

[mikfresh]

Believe or not in the Venezuelan Petro project, this news will change the perception of cryptocurrency all abroad. The fact that an entire Country has provided and shared such a big program will lay the foundation for a spread knowledge about this new and promising technology, and we all know how important is to spread the word in the world of Crypto.

The Venezuelan government has launched a free cryptocurrency training course to teach its citizens how to buy, sell and mine digital currencies, keeping a distinct eye on the Petro PTR cryptocurrency. The program we are referring to is called "Granja Laboratorio Petro", will be based in Caracas and will start after the launch of the pre-sale. The program that would otherwise cost from $600 to800, will be free for Venezuelan citizens, due to the interest by the government to spread the word.
The government, that is now in financial crysis, is probably trying to get new funds by attracting foreign investors bypassing the economic sanctions imposed by EU and USA.
The funds raised by the offering of PTR has now reached $1Billion as stated by Maduro and other press agencies.
Here is the pic from Maduro's tweet account. Let me know what you think, in my humble opinion, the more people know about crypto, the more this technology will grow overtime.

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[palle11]

Bitcoin in logical sense can help countries escape from recession or financial mess. If Venezuela has been able to profit that much from investing in bitcoin, then thats good news and I believe more countries would join such. Also, giving there young the training on minning and other aspects of cryptocurrency would help there economy more.

[Hydrogen]

One big question here: is venezuela's petro crypto currency different from the bolivar? Can venezuela reboot their economy and start over by issuing another currency in the hope bitcoin's value and brand name recognition will elevate and stabilize what would otherwise be a currency which would be weak based off of venezuela's current & future economic prospects.

I think most analysts and experts will say this is a desperation move on venezuela's part.

One might say Venezuela needs to create value in the form of jobs, better economic stats, higher independence from trade to bolster weaknesses which make them susceptible to sanctions. Will issuing a crypto currency create that type of value? I would guess: probably not. Venezuelans already have access to more reliable crypto such as bitcoin, litecoin, dash, ethereum and whatever else they choose. There's a big question as to what advantages venezuelans crypto currency might provide to them.

[ldah94]

The creation of the petro in Venezuela is another form of currency control by the government, this currency lacks the conditions to be considered cryptocurrency because it arises differently and with a different purpose; the same would be promoted by a State and would be supported by the Central Bank, thus giving the regime the opportunity to expand its monetary liquidity. It is a system that seeks to capture the income of people who honestly decide to participate in such deception and also provide opacity and space to give money to dubious origin.

[wandino]

Good news. Citizens of Venezuela will be able to buy, sell and mine digital currencies.

[molenracing]

This is very remarkable, Venezuela is one of the countries that receive Bitcoin. And giving the Cryptocurrency Course to the nation's citizens is the first in the world. so Venezuelans who do not understand Bitcoin and Cryptocurrency will easily learn it. hopefully this will be the trigger and motivation of other countries to develop Bitcoin and Cryptocurrency.

[hatshepsut93]

Venezuelan government is trying to ride the crypto hype with their centralized coin, like the article says, they will use these courses to promote Petro, and they will try to confuse people into thinking that their Petro is just the same cryptocurrency as Bitcoin, while in reality they have little in common. Venezuelan government is by no means crypto-friendly, just read some articles about the realities of Bitcoin users there:

https://hackernoon.com/extortion-police-raids-and-secrecy-inside-the-venezuelan-bitcoin-mining-world-6e97a25e7402

https://bitcoinmagazine.com/articles/venezuelas-and-love-affair-cryptocurrency-mining-its-complicated/

[Pinoyfan]

Believe or not in the Venezuelan Petro project, this news will change the perception of cryptocurrency all abroad. The fact that an entire Country has provided and shared such a big program will lay the foundation for a spread knowledge about this new and promising technology, and we all know how important is to spread the word in the world of Crypto.

The Venezuelan government has launched a free cryptocurrency training course to teach its citizens how to buy, sell and mine digital currencies, keeping a distinct eye on the Petro PTR cryptocurrency. The program we are referring to is called "Granja Laboratorio Petro", will be based in Caracas and will start after the launch of the pre-sale. The program that would otherwise cost from $600 to800, will be free for Venezuelan citizens, due to the interest by the government to spread the word.
The government, that is now in financial crysis, is probably trying to get new funds by attracting foreign investors bypassing the economic sanctions imposed by EU and USA.
The funds raised by the offering of PTR has now reached $1Billion as stated by Maduro and other press agencies.
Here is the pic from Maduro's tweet account. Let me know what you think, in my humble opinion, the more people know about crypto, the more this technology will grow overtime.

That is great. Its a great opportunity for Venezuela citizen to study more about cryptocurrencies. I wish someday here in the Philippines too. They make a course for cryptocurrencies. It is great especially in their economy cryptocurrencies is very good.

[peter0425]

That is great. Its a great opportunity for Venezuela citizen to study more about cryptocurrencies. I wish someday here in the Philippines too. They make a course for cryptocurrencies. It is great especially in their economy cryptocurrencies is very good.

Do you really understand as to why the government of Venezuela is offering the courses? Its not because of bitcoin or ethereum. Its because of their government back crypto which is the Petro. How can the government of the Philippines offer the same if they don't have any coins that is backup by the government? Personally, I don't like the sound of it, this free courses being offered has a motive behind. I think they wanted their people to involved themselves not in other crypto coins but on Petro alone. Its kinda misleading in my opinion.

[niteroy]

Thanks to the support of the government, Venezuela has already done enough to popularize cryptocurrencies and give people the impetus for them to become interested in cryptocurrencies and acquire and use them. Although Petro is not a cryptocurrency at its core, it is rather a centralized electronic coin, but I heard that in the future the government plans to legalize Bitcoin and other cryptocurrencies.

[n0ne]

When Zimbabwe was in hard economic crisis, experts suggested bitcoin to be the only asset that could help with the retaining of the economic growth. This has been ignored, and now Venezuela has taken it in hands. Surely this will let them grow through the cryptocurrency marking a big change in its economic status.

[joebrook]

Thanks to the support of the government, Venezuela has already done enough to popularize cryptocurrencies and give people the impetus for them to become interested in cryptocurrencies and acquire and use them. Although Petro is not a cryptocurrency at its core, it is rather a centralized electronic coin, but I heard that in the future the government plans to legalize Bitcoin and other cryptocurrencies.

I quite remember the government begin a large scale crack down on those who were mining bitcoins sometime last year where they said it devalues their national currency not knowing it was all about them releasing their own crypto currency.

[motoprose]

Seems to me to be a lot like what facebook is doing getting into the cryptocurrency space with wanting to create their own project on the blockchain.
Having an advantage to any other project because they will have a predetermined user base to distribute their marketing and promotion about it.
They would not need to charge any of their 2.19 billion users to use their own alt coin.
And they will reap the rewards later on just like Venezuela's government will by giving these courses for free(what if they charged $1 per person would it matter? ) in promoting Nicolas Maduro's petro coin.

[pat4cryptoreal]

If the free cryptocurrency course for every citizens will comprise of all the cryptocurrency and blockchain technology in totality then that will be good idea.

[nazaididuan1]

Venezuela sees blockchain and encryption as an important way to restore its economy. Let people all over the country participate in the game of cryptocurrency!

But it is hard to lift venezuela out of poverty without a cryptocurrency backed by the real estate industry.

[bitcoin2048]

This is great news! I wish in my country would be started something like that. Becouse in here, you must pay for everything you need.

[00DKM@]

That is the fact that they can be deployed sooner in order to save and restore the economy after the losses and degradation of the "democratic system". If that happens and they need some more reasonable adjustments and try to curb inflation. Maybe some ineffective decisions from their government have increased the spread of hunger and frustration. I hope to see their economy recover early with access to and use of crypto as a new investment instead of real estate.

[timerland]

It's almost funny how the world's most dysfunctional economic system is actually educating its citizens about cryptocurrency. Of course, the emphasis here is going to be placed on Petro which is just another incarnation of the Bolivar, but I think it'll still get a lot of people within the country educated on the subject of decentralized cryptos like bitcoin as well.

As I said, Petro isn't anything more than another currency, centrally issued by Venezuela, that is probably not going to end well.

But if this education program actually is able to be used on somewhat of a large scale, then it can really allow people to see that there is an alternative global store of value in bitcoin, that they can use to hedge against Bolivar's inflation.

[eaLiTy]

One might say Venezuela needs to create value in the form of jobs, better economic stats, higher independence from trade to bolster weaknesses which make them susceptible to sanctions. Will issuing a crypto currency create that type of value? I would guess: probably not. Venezuelans already have access to more reliable crypto such as bitcoin, litecoin, dash, ethereum and whatever else they choose. There's a big question as to what advantages venezuelans crypto currency might provide to them.

They are not trying to change the fundamental problem to change the economy until then we cannot expect any changes, the reason they are implementing the cryptocurrency is to by pass any sanctions against them and to trade freely, the major asset of Venezuela is their abundant oil reserve and they will provide extra discounts if you are purchasing the barrel with their Petro coin and if they are offering those discounts the trade will move to cryptocurrencies and that is the benefit they are going to get, basically a win win situation for both parties.

[amishmanish]

One might say Venezuela needs to create value in the form of jobs, better economic stats, higher independence from trade to bolster weaknesses which make them susceptible to sanctions. Will issuing a crypto currency create that type of value? I would guess: probably not. Venezuelans already have access to more reliable crypto such as bitcoin, litecoin, dash, ethereum and whatever else they choose. There's a big question as to what advantages venezuelans crypto currency might provide to them.

They are not trying to change the fundamental problem to change the economy until then we cannot expect any changes, the reason they are implementing the cryptocurrency is to by pass any sanctions against them and to trade freely, the major asset of Venezuela is their abundant oil reserve and they will provide extra discounts if you are purchasing the barrel with their Petro coin and if they are offering those discounts the trade will move to cryptocurrencies and that is the benefit they are going to get, basically a win win situation for both parties.

They are supposedly providing discounts on purchase of crude oil if purchased using Petro. This story here says that they will offer 30% discount to India. Last update on this news also said that they wanted Petro to be traded on the Indian exchange Coinsecure which was started by the long time Indian Mod Benson and has recently suffered from a hack.

The model though could probably if petro becomes tradeable against bitcoin in countries like India which have yearly import bills of crude upwards of USD 50 Billion. The problem for a country under sanctions is that their currency is unusable. If Petro issued by the government becomes usable, they can kick-start the economy. Though it remains to be seen if the US would stay quiet at such a proposal. I am pretty sure it'll arm-twist countries like India out of any such deal.

The idea can definitely work but the corrupt regimes in these countries have a way of screwing up things, no matter how good the idea is.