Petro or PetroDollar?
Three months ago when Venezuelan President Nicolás Maduro launched the news of Petro Coin or "Petro", many users started looking for information about this currency, but there was already a currency with the same name "PetroDollar". .
PetroDollar was dead, the owner had abandoned the project for more than 3 years, but the confusion with Maduro's cryptocurrency caused its value to increase by 2500% in 24 hours.
Is it true that the more closed the currency (government control) the more growth it will have? Why?
The debate of big Bitcoin investors has been the same: Volatility! Being a decentralized currency makes it very volatile. However, if there is a regulator in this case, a government, its value may be more stable and that will attract the attention of large investors, then increase its value.
What do you think?
Image by Segundo Enfoque website
When petro was the new, the value of petrodollar up a little! But its a shame because petro is not a real coin.
In the short term the project of the president of Venezuela can give good results. You must take advantage of that moment.
I think that being decentralized makes it interesting to the people that are in the crypto market.Thats why people are hyped , in the volatility they see their opportunuty to make some profit. But if you make it stabil and regulated somebody else will rub their hands...centralization equals control.
All extremes or excesses are bad, a proper control may favor Venezuela's economy. It may not favor foreign investment.