Petro Token-Pre-Sale to start on February 20th Maduro says
Petro ICO will start on February 20th
Venezuela president Nicolas Maduro, accounced that the pre-sale of the country's cryptocoin "petro" will launch on february 20th. So far there was little information on where to get wallet or how to buy petro.
http://www.elpetro.gob.ve/index-en.html
looks like the offical site now where a whitepaper was released for the new coin.
http://www.elpetro.gob.ve/Whitepaper_Petro_en.pdf
However there is no information yet on how to buy and where one should get the petro wallet. I am very interested in this new crypto coin, as it will ne the first ico initiated by a government or country. i will by a small amount to see where it goes, as soon as possible.
What do you think about petro?
Is it doomed for failure or might it be a next level coin since its supposed to be backed by oil reserves in venezuela and the government guarantees to accept it for example as tax payments.
Well, the current economic status of venezuela shows, that they aren't very good at handling economic reforms.
But maybe this could work. Their are truly a lot of sh*t coins, that manage to obtain multi million market caps. Because some people apparently buy blindly.
Might as well happen to this one.
And if it does succeed, then it's piece of history. As it will be the first crypto currency launched by a nation.
true, it will be very interesting to watch whats gonna happen. also it will be interesting to see if for example us exchanges will be willing or allowed to trade it.
The government has done very well at handling economic reforms considering aggression from the U.S. and opposition from their own right-wing counter revolutionary forces. The rich don't want to lose their private property, they want the poor to stay poor. This is why the working class supports Maduro by a vast majority.
USD is backed by nothing today and more is being printed everyday. Gold has some value in manufacturing but nowhere near in relation to the price. At one time people traded shells. So i agree would like too see where it gose
the creator of ethereum said the following:
Replying to @VitalikButerin @IlaMilkEs and 4 others
Particularly, I recall the whitepaper says it doesn't offer oil, it offers bolivars based on the oil price. On top of risk of total default, this gives them opportunity to do a partial default by manipulating the official bolivar rate, which they have a history of doing.
https://twitter.com/VitalikButerin/status/966308397103570944