Venezuela – Page 35

Who Says Man Shall Not Live by Cryptocurrency Alone?

Many people inside the cryptocurrency community spend extended periods of time in front of their computers. When they do take a break and step out into the real world, they often have a hard time explaining what they do. The very words “cryptocurrency” or “blockchain” often provoke ill-concealed smirks or outright guffaws followed by remarks like, […]

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Experts: Venezuela’s Petro Is a ‘Smokescreen’ Backed by Centralized Debt-Crippled Entity

Venezuela’s national oil-backed cryptocurrency, the Petro, has been scathingly denounced by local experts as an opaque “stunt” backed by a centralized and debt-saddled entity

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Dash Core Group CEO: Venezuela ‘2nd Biggest Market’ as Interest in Crypto Spikes

Venezuela turns to Bitcoin and Dash as figures reveal extent of distrust in new fiat currency

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A Look at Venezuela’s Other Cryptocurrencies, While the Petro Takes Center Stage

A Look at Venezuela’s Other Coins, While Petro Takes the Center Stage Financially troubled Venezuela, which is introducing the new, denominated, crypto-anchored “sovereign bolivar” this week, is also the birthplace of a number of alternative coins beside the state-issued, oil-backed national cryptocurrency, El Petro. Crisis-hit Venezuelans are actually using some of them in real life, according to the local crypto community. Also read: Coinhive Mints Quarter […]

The post A Look at Venezuela’s Other Cryptocurrencies, While the Petro Takes Center Stage appeared first on Bitcoin News.

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Venezuelans to Be Paid at Least Half a Petro a Month

Venezuelans to Be Paid at Least Half a Petro a Month Announcing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin. […]

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Venezuela to Use Petro as Unit of Account for Salaries, Goods and Services

Venezuelan President Nicolás Maduro has announced that the Petro will be used as a unit of account in the country for salaries as well as goods and service

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Venezuela to Have Two Units of Account – Petro and Petro-Pegged Bolivar

Venezuela to Have Two Units of Account – Petro and Petro-Pegged Bolivar President Maduro’s Venezuela is preparing to effectively adopt next week two official units of account – the nation’s crypto, El Petro, and the new petro-pegged bolivar that will replace the inflated national fiat. New salary and pricing mechanisms will be implemented as well, the country’s leftist leader promised. Also read: Malta Tops Exchange-Based Crypto […]

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Venezuela’s Constituent Assembly Drafts Law to Create Central Bank for Crypto

A member of the Venezuelan National Constituent Assembly has reportedly revealed that the assembly is preparing a reform to the country’s Constitution that includes a central bank for cryptocurrencies. This follows the Venezuelan government’s latest effort to tie the new bolivar currency to the petro. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Central […]

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As inflation goes stratospheric, Venezuelans take to the crypto markets

It is a commonly (but not universally) known fact that the ultimate supply of Bitcoin is capped at 21 million. Unfortunately the same cannot be said for the Venezuelan Bolivar, which is going through a period of currency debasement every bit as bad as the events in Weimar Germany which brought Hitler to power. As […]

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Bolivar ‘Anchored’ to the Petro to Be Issued in August, Maduro Says

Bolivar ‘Anchored’ to the Petro to Be Issued in August, Maduro Says A new Venezuelan fiat currency, ‘anchored’ to the nation’s crypto, the Petro, is expected to start circulating in the second half of August. The news was announced by president Maduro himself, along with other measures intended to improve the economic situation in the country. The ‘Sovereign Bolivar’ will have less zeros than the inflated ‘Strong […]

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