What happened to the Petro?

[peter0425]

You can't find anything because it was a scam coin perpetuated by Maduro to circumvent the US led embargo. And the reported like $300m or more investment? It was fake, not even Russia investment on it (as previously reported). So if you find people to invest, then advise them not to, because most likely they will just lose their funds.

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[LUCKMCFLY]

You can't find anything because it was a scam coin perpetuated by Maduro to circumvent the US led embargo. And the reported like $300m or more investment? It was fake, not even Russia investment on it (as previously reported). So if you find people to invest, then advise them not to, because most likely they will just lose their funds.

The truth is well away from there, nobody can trust the signal of a dictator, also with all the problems that Venezuela has, that talking about Petro would not make sense, nevertheless, it is necessary that you know that the petro is a scam, not has and will never have a future. The only people who speak of Petro well are the people who are with Maduro, and the truth is, they do not know very well themselves, it is a total disaster.

[Tylev]

In principle, the idea of ​​a centralized national cryptocurrency supported by oil was pretty good for Venezuela. However, this was ruined by the political struggle both within the country and abroad. Now in this country there is a complete crisis in everything, including the negative attitude towards El-Petro by the opposition, who link this coin with its creator, President Maduro. The military began to intervene in the situation with Russia, which invested more than ten billion dollars in the Maduro regime and now do not want to lose them along with Maduro's shift.

[HouseStark]

Petro has some bad international reputation from various countries and that's why it's been pushed deep into shadows. Unless Venezuela decides to give no damn about any other country (which of course Maduro has shown he'll do), then maybe they can come into the limelight but the actual question is that who'll even use it? Because we know that internationally, countries wont use that to trade oil with Venezuela.

[Adriano2010]

Better avoid it because is risky and try to focus on old coins with history because only them will give you a profit over time, they already give a profit for who buy longer time ago, and again will give a profit.

[premiumproductss]

Petro is a good example what will happen to all centralized coins when the centralized power fail to manage it in a good way. Next is Facebook coin  .

[qwizzie]

https://dashnews.org/new-venezuelan-petroapp-reportedly-enables-purchases-with-cryptocurrency/

This new PetroApp appears to enable consumers to make purchases of the Petro with either Dash, Litecoin, or Bitcoin. The website claims to allow users to
“manage [their] Petros, Bitcoins, Litecoins and Dash in one place” and that the “PetroApp gives [users] the wallets for each of these cryptocurrencies”. The website
also proclaims that users can “buy Petros conveniently from [their] device, with Bitcoins, Litecoins and Dash”, and “pay for goods and services in Petros”.

The Petro has had limited details released and many of the facts keep changing, such as how many used to believe that the Petro was based on NEM or ETH,
but it was later revealed to be “a blatant Dash clone”. However, rather than appealing to cryptocurrencies’ soundness in code as a backing asset, the Petro appeals to
being “backed by part of the Venezuelan State’s natural reserves”. Additionally, there are still many uncertainties about what the Petro is actually worth. The Venezuelan
government has supposedly pegged their sovereign bolivar so that “as a ‘unit of account’ the Petro’s value is to be of 9,000 sovereign bolivars”, according to their central
bank’s announcement.