Who will buy the petro?
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Bitcoin was created in a decentralized manner and without material support. This type of cryptocurrency can be transferred from one virtual wallet to another without the operation being authorized or supervised by any monetary authority or official entity. Bitcoin cryptocurrencies are not backed by specific assets nor regulated by any entity. That is why they reflect very abrupt variations in their price. At the end of 2017, after unprecedented increases that raised its price above $ 20,000 a unit, bitcoin collapsed and lost $ 8,000 in a matter of days, closing the year around $ 12,000.
The decentralized and unsupported paradigm that governs bitcoin has been the most widespread to define a cryptocurrency, but it no longer seems to be the only one. New cryptocurrencies are now being announced by states and will be backed by gold, diamonds, oil and other natural resources. The Royal Mint of the United Kingdom announced the RMG, backed by gold, Sweden is studying to launch the e-crown, Singapore the ubin, Estonia the estcoin and in Venezuela the petro was launched.
The new cryptocurrencies supported by gold, diamonds or oil, have internationally certified reserves and the self-regulation derived from their synchronization with the price of the natural resource that supports them. It is very likely that these cryptocurrencies show a more stable price. Being anchored to the quotation of the natural resource in the international market, its oscillations, no matter how strong they may be, will not register such increases or setbacks.
Who can buy the petro? 5% of the total of bitcoin holders controls more than 90% of the total issued, and only 25% is used for the exchange. 75% goes to resell it when its price goes up. The first issue of 100 million petros has to be sold in a transparent process open to the public. A poorly managed petro reissue the dark history of Cadivi, Cencoex, Sitme, Simadi, Dipro and Dicom, in which only a few privileged were those who had access to the preferential currency, while most of the natural and legal persons were excluded .
"75% goes to resell when it goes up"
I don't like Petro but there will be buyers for sure. It is more valuable than lot of ICO coins that are issued lately...
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