Crypto-Boom Alert!

Venezuela's Petro coin white paper,it's effect on the value of ethereum token -Ether.

#My brief personal analysis
Amid all the elements that set the tide of crypto currency,
Credit card bans,country legislations.
There seems to be pockets of hope that the sun will be up in the sky again for the Ether;Ethereum crypto token.

Venezuela one of the world's top ten countries with proven high oil reserves has devised means to help her sinking economy..

How do we engage the world to buy into our crude reserve?

How do we sell our oil shares across national boundaries,across the rigors of financial engagements.

How do we get the world to invest into our economy?

And most importantly,how do we get money to save our economy from going into recession?

They devised a means of getting the world invest into their oil.
They devised the Petro coin..

What is Petro coin?

Petro coin is a Venezuela generated crypto coin.

Each Petro coin is to be sold at $65 which is equivalent to the price of one barrel of oil in Venezuela.

In other words Petro coin will be a crypto representative of a barrel share in Venezuela's crude oil.

Petro coin stands as a means of making it possible for the world to buy a share into Venezuela oil.

By buying Petro coins the world generates a heavy pool of money for Venezuela to put into her sinking economy and make it strong again.

And as the economy revises the more the Petro coin's value rises.

A fixed amount of Petro coin will be sold at this first phase.
Sometime this February.

The second phase sales will be opened sometime later this year..

And by then Petro coin will be sold for more than $65 it might be sold for a $100 or more...

How does all these relate to crypto currency ?

The Venezuelan government has said that they are going to sell the Petro coin using the ethereum technology.

What does this mean?
This simply means that you will require ethereum token-Ether to be able to buy the Petro coin..

In other words,Ether will be exchanged for Petro coin.
On your exchange market you will see Petro/ETH...

You will require to first acquire or buy Ethereum token-Ether to be able to buy the yet to be sold Petro coin...

Of what effect will this have on Ether?

The price of Ether will rise soon.
Simple economics....

Because soon there will an increase in the demand for a fixed amount of ETher.

And the value seek the skies!

Buy into ethereum technology now you can.
The above analogy is one amongst many...

Soon the ship will soon set sail!

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