Petro is a Horrible Investment and Here's Why

in investment •  7 months ago

Venezuela is a beautiful country. I lived in Brazil for many years and a few decades ago the financial situation in #Venezuela was very good, it was one of the most promising countries in South America.

My parents used to travel there at least once a year. They always told me great things about the country.

But after that  a lot of bad choices were made then two dictators took over then the sh*t hit the fan.

Why you should NEVER invest in Petro

Thousand of Venezuelans were surviving thanks to Bitcoin mining since their currency, Bolívar, does not worth anything. With only 1 USD you can buy 103.000 Bolívares in Venezuela's black market, thanks to the hyperinflation that is expected to hit 13.000% in 2018. How awful is that?

Thousands of Venezuelans were surviving the food shortage and hyperinflation thanks to Bitcoin mining but then Maduro just made all the miners "disappear" all of the sudden. Some are still in jail but most of them are missing.

Instead of helping his people, Maduro made things even worse.

People were killed on protests against his government in the last few years, and we are talking about hundreds of people. Can you imagine that?

So to make money out of thin air Maduro decided to issue a Cryptocurrency "backed by Venezuelan oil". #Petro. Venezuelan government is expecting to raise around 6 billion of dollars with Petro.

Reasons not to buy Petro

Ok, so here's a few reasons:

  • Hugo Chávez and Nicolás Maduro never gave a damn about human rights, now they want your money so their project of power can survive longer, despite Venezuelans are starving to death.
  • It is considered the World's most miserable country in the last 4 years. 
  • You can't even mine Petro. You have to buy from the Venezuelan government. And it's totally centralized. You can't even buy Petro using Venezuela's currency, you have to buy with dollars. So most people from Venezuela won't have access to it.
  • It is not backed by any sh*t. Seriously, do you believe that?
  • If a democratic government takes over they probably will cancel the project.

Thousand of Venezuelans are fleeing to Brazil to escape the hell Chávez and Maduro created.

I just wish all the luck to all Venezuelans everywhere. Please stay safe.

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Very good post Comrrade, but please do not harm our latest and last attempt to steal everything from the people!

We need our luxuries you know...

Veri gud post camarad, but plis don jarm or lates atem to stil evrisin from de pipol

güi nid or locsuris


Haha sorry

very good article,it will help many steemians,thanks buddy


Thanks buddy!


welcome dear...

I pray for Venezuela all the time. I am sure i do not know a smidgen of what is really going on there. This is why it is so important to know how to take care of our own basic needs. To grow food, supply our own utilities, know how to purify and collect water and to do first aide. Among so many other things. No country is far from despair. Governments are all vile :'( sad reality. But, we can circumvent it all.

I pray for all who suffer. Mainly the oppressors, as well as the victims. But, i really don't think there has ever been a better time to be alive. And, that is why were are here!! To be the change. 🙏🦋💖


It is so sad indeed. One time I was in Colombia and a guy from Venezuela begged me to buy food for him, he was escaping his country and trying a new life in Colombia. And it was 2016. I heard things are even worse now. At least we can help our brother by upvoting their content ;) not to mention we could do even more here on steemit

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Excelente articulo, votado y seguido por aquí. Saludos.