Venezuela: cryptocurrency mining is now legal and national coin Petro will have a presale next month. #NEWS
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Venezuela Says Crypto Mining Now ‘Perfectly Legal,’ Announces Petro Presale
Category: Venezuela
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Why Venezuela’s New National Cryptocurrency El Petro Will Fail
Washington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the impossibility of actual redemption. The attempt will fail, if it’s ever rolled out, adding woes to a region […]
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George Soros: Bitcoin is Propped Up by Dictators
Legendary currency trader, hedge fund titan, philanthropist George Soros, 87, delivered his yearly talk at The World Economic Forum 2018 in Davos, Switzerland. At the end of his remarks, an audience question asked the mogul his thoughts on cryptocurrencies generally and bitcoin in particular. Also read: Tezos Swiss Foundation Concept is “Old, Inflexible and Stupid” George […]
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US Treasury Warns Investors About Petro “Cryptocurrency”
Venezuela’s Petro cryptocurrency has made a lot of media headlines over the past few weeks. For now, it still remains unclear how well this project will fare, especially because the country’s Senate has no plans to approve it. It seems the US Treasury Department is warning investors regarding the new cryptocurrency. It is possible that this form of money violates sanctions against the OPEC nation’s socialist government. The Petro Can’t Catch a Break On paper, the Petro cryptocurrency sounds absolutely legitimate. It is a currency controlled by a central entity and it is backed by the country’s vast oil reserves. TherePowered by WPeMatico
Venezuela Considers Selling Its ”Oil-Backed” Cryptocurrency With a 60% Discount
The advisors of the Venezuelan government have recommended that the country’s oil-backed cryptocurrency, the petro, be sold in private placements at a discount of up to 60 percent. 38.4 million petros, with a face value of around $2.3 billion, could go on sale starting on February 15. Also read: South Korea Urges 23 Countries, EU, and […]
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Venezuela’s President Urges Neighbors to Embrace the Petro Cryptocurrency
Venezuela’s cryptocurrency project will still go ahead as planned, by the look of things. Last week, the nation’s Senate forbade the issuance of the Petro cryptocurrency, but it seems President Nicolás Maduro has no intention of backing down. More specifically, he has urged some of the neighboring countries to embrace this new cryptocurrency in the very near future. Whether or not this request will fall on deaf ears remains to be determined. President Maduro Wants the Petro to Succeed It is evident that something will need to change in Venezuela sooner rather than later. Right now, the country’s financial situation isPowered by WPeMatico
Venezuelan President Maduro Calls For 10 Countries To Embrace His Oil-Backed Coin
Venezuelan President calls for cooperation among 10 South American countries to back the Petro, his new oil-backed digital currency. #NEWS
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Venezuela Urges 10 Other Countries to Adopt Its Oil-Backed Cryptocurrency
Venezuela’s president Nicolas Maduro has called for 10 other countries to adopt his planned oil-backed cryptocurrency, the petro. This move follows the country’s parliament declaring the issuance of this new currency illegal. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Maduro’s Proposal Maduro held a meeting of the […]
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Venezuela Will Pre-Mine the Petro and Launch in 6 Weeks
One day after Venezuela’s oil-backed cryptocurrency was declared illegal, the government of president Nicolas Maduro announced plans to pre-mine the petro. The new currency is expected to launch in six weeks. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Petro Mining Restricted to Government The Venezuelan Superintendent of […]
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Goldman Sachs Recognizes Bitcoin’s Future Potential
First, Jamie Dimon of JP Morgan Chase says he regrets calling bitcoin a fraud. Now, legacy bank Goldman Sachs is formally recognizing how cryptocurrencies such as bitcoin could act as global money. 2018 might be shaping up to be the year bitcoin gets more mainstream than ever. Also read: Huge Bitcoin Conference Stops Accepting Bitcoin […]
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