Manc89
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Activity: 266
Merit: 10
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March 24, 2018, 05:27:03 AM |
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Maduro made a very clever move, with great potential for the future, the main drawback of this coin is that the president is the main guarantor, and if something happens to him, then without his support the coin will not last long.
Dont let something happen to him because he is the main supproter of this project. This project is really great, its not about the concept only but about the goverment launched their own cryptocurrency and take so much interest from citizens and villager. |
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szafa
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March 24, 2018, 06:01:37 AM |
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Where is the exchange?
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yaazcryptos
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Activity: 182
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March 24, 2018, 07:35:09 AM |
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The website doesnt look nice but it has a name. Im curious what will it bring..
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raul lemos
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March 24, 2018, 08:27:45 AM |
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Maduro made a very clever move, with great potential for the future, the main drawback of this coin is that the president is the main guarantor, and if something happens to him, then without his support the coin will not last long.
Dont let something happen to him because he is the main supproter of this project. This project is really great, its not about the concept only but about the goverment launched their own cryptocurrency and take so much interest from citizens and villager. yeah except venezuela is very unstable country, just let time flow and see what happens. i mean, yeah ofc maduro is key to this coin, but other things like oil price or the citizen be an apostate can make huge difference when it comes to overall coin prices. |
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Faeton
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Activity: 308
Merit: 11
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March 25, 2018, 06:27:01 AM |
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If El-Petro will successfully finance the Venezuelan economy this will create a precedent! Many countries under sanctions and unable to conduct normal trading activities will want to create their own crypto currency
However, the great difference of the Petro coin is its supply with oil and gasoline. If other states can offer something similar, they, of course, will be able to issue their centralized national crypto currency. Whether we like it or not, the states will vseravno issue centralized digital coins and we need this experience, we need to see how centralized and decentralized crypto-currencies will behave, how they can interact and ultimately which model is better. If we are confident that the future is behind decentralized coins, this is a good way to prove their superiority over centralized. |
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ArturoProfit
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March 25, 2018, 10:04:54 PM |
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As far as I remember, the American president made it clear that this Venezuelan token could be banned. It's such a while that politics is very much regulating this or that crypto currency.
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Valermos
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March 25, 2018, 11:47:49 PM |
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Venesuela has its government default, so I would not trust in this country coins, but can't avoid admiring their market strategy.
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sunsilk
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March 25, 2018, 11:58:19 PM |
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Venesuela has its government default, so I would not trust in this country coins, but can't avoid admiring their market strategy.
Why you wouldn't trust this coin? I'm not really into much altcoins but if there's a government involved to that coin then I'm starting to get interested on what it will really bring but I don't buy, I just want to know more about it. And now out of curiosity this is what I found out. https://www.ccn.com/trump-bans-petro-a-pacquiao-ico-and-the-caribbean-goes-crypto-week-in-review/ |
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ranman09
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March 26, 2018, 07:54:37 AM |
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I don't what to call it actually. Is it a cryptocurrency? Cryptocurrencies are decentralized, this is so centralized. He even orders for corporations and companies to accept this currency. Whats decentralized on that?
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bitcoinposts
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March 26, 2018, 08:14:04 AM |
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too major news circulating around the news channels Petro coin is directly in contact with Russia President Putin and Putin is taking Petro coin to new levels
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Kumic
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March 26, 2018, 09:26:41 AM |
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Now, this is a war. Venezuela won't give their oil cheap and America is not happy about it and it's trying to suppress them. At first, it seems that this won't work. But then I read the whitepaper and I advise investors to read it too. They offer 100 million coins for the price 42$-60$ which could be high as the total would be above 4 billion. But this is backed up by their oil and their presiden't or state. And they already collected more than 700 million. Venezuela is maybe not the strongest country out there, but Petro cryptocurrency is backed up with a country that has large quantities of oil. Starting price is maybe not so good for small investors, but definitely, it will be interesting for investors.
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irsada
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March 26, 2018, 09:34:11 AM |
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it seems the crypto world is now beginning to switch functions and is now set by various countries.
if I personally while still be profitable for me there is no harm in trying it.
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Diabolov
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March 26, 2018, 09:28:02 PM |
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how can a country where poverty and inflation through the roof to release the cryptocurrency and make it bring more profits. How can you trust their money in this project, it is already doomed  |
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TorbjornE
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Activity: 148
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The stock photography revolution
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March 27, 2018, 08:21:03 AM |
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El Petro is a type of futures for the future supply of oil.
Also Maduro said that only about 292 thousand investors took part in the pre-match. At the same time, 36% of transactions were carried out in US dollars, 15% - in euros, 18% - in crypto currency Ethereum, and 31% - in bitcoin. Crypto-investors from Colombia, Brazil, Japan, China, Palestine, Spain, Saint Vincent and the Grenadines showed interest in "the savior of Venezuela".
Until now, it is not completely clear which platform was used to release tokens - Ethereum (as indicated in the white paper of the project) or NEM (referred to in the guide for investors on the El Petro website);
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╔═ PHOTOCHAIN.IO ⚫ TRUSTED STOCK PHOTOGRAPHY ═╗
╚══ REVOLUTION IN THE STOCK PHOTOGRAPHY MARKET ══╝ |
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sethme
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March 27, 2018, 10:55:49 AM |
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lol.. are you serious? they cannot normally buy food and toilet paper. but the main reason its not good idea is that petrocoin is under government. Maduro is just too boneheaded and do not understand principles of cryptocurrency
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missmaria
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Semux
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March 27, 2018, 10:57:19 AM |
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Why not? I think it's a good idea to make coins backed with some real things such as gas, oil, gold etc. They will be way more stable than most of current ones.
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ranman09
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March 28, 2018, 07:56:37 AM |
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Why not? I think it's a good idea to make coins backed with some real things such as gas, oil, gold etc. They will be way more stable than most of current ones.
You mean like USDT / Tether? Its backed by USD itself. And you are right it is stable. |
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SergiuDemerji (OP)
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April 06, 2018, 07:10:18 PM |
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Venezuela is trying to agree with Russia on the acquisition of auto parts of Russian production with the help of its state crypto currency Petro. Currently, both countries are under US sanctions. After meeting with his Russian counterparts, the Venezuelan Foreign Trade Minister announced that the governments had discussed the possibility of buying Kamaz spare parts with the help of Petro.
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Iggor
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April 06, 2018, 07:36:08 PM |
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It is backed up by oil and government. Those are very strong points for this coin. I think it could be done as this coin is not dependent on the president, so if the government fails on elections coins future is not in danger. It is a good way, for countries in a difficult position, to break through another market and be free in trading and business.
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Bencus
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April 06, 2018, 10:21:31 PM |
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I was wondering about Petro coin aswell some days ago.
But it is certainly nice to have a government-backed and oil-backed (I mean it should have real value because of it, right?) cryptocurrency. It means wider adoption of cryptocurrency, which is great news for the market.
But after the news on the legislative body declaring it illegal, I dont really know what to think of it anymore.
For the question about this heading into the good direction: this is a good way. Governments realising the potential in it, can make the cryptocurrencies spread, and it will have a positive effect on the market. On the other hand, this would mean centralisation of the blockchain, for that coin.
Does it worth it? It is hard to tell honestly, by not knowing much about the planned, government-backed coins. But the benefits will outweight the negatives, I believe. A positive thing might be that the backed coins might be more stable, as it would be desirable. Also, these coins, and "traditional" cryptocurrencies can exist at the same time, paralelly, so I dont think government-backed coins will rule the current ones out.
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