Tag Archives: Venezuela

Oh, President Maduro – when are you going to learn that the only person who seems genuinely interested in the Petro currency is you?! When are you going to see that nobody in Venezuela or abroad gives a hoot about your failed digital asset?The Petro Is Still Being Pushed, Now in Questionable WaysUnwilling to accept reality, Nicolas Maduro – president of Venezuela – is continuing to push a Petro-backed agenda, saying that his country will now sell both gold and oil for Petro units. So here,...

While most of the world countries and entities are making slight attempts to enlarge their cryptocurrency adoption, Venezuela might be way ahead.Judging by the past year, the dictatorship country has been quite favorable towards Bitcoin and other digital assets, with increased trading volume, and its own cryptocurrency to be used in oil trades.Most recently, the Burger King food chain will allow clients to make purchases with several different cryptos, including Bitcoin, thanks to a...

2020 could be the year Venezuelan oil will be finally exchanged for the Petro crypto. The national cryptocurrency is yet to find a use outside its borders. U.S. sanctions are scaring would-be buyers with the number of oil barrels sitting in storage tanks growing by the day. Venezuela’s plans to sell its mineral resources for its cryptocurrency Petro will reportedly take off this year.According to the Venezuelan President Nicolas Maduro, the country’s oil will be sold in the national...

Interest in cryptocurrencies, especially bitcoin, in Latin America is on the rise as popular bitcoin Peer-to-Peer trading platform LocalBitcoins has been recording tremendous surges in its weekly BTC trading volume in Venezuela and Argentina. P2P Bitcoin Volume SpikesData from CoinDance, a crypto statistics platform, reveals that there was a spike in trading activities on LocalBitcoins last week, leading to a new all-time high in the weekly trading volume of Bitcoin in the local currencies of...

Oh, Nicolas Maduro… When are you going to take a hint and realize that the people of your country aren’t interested in your silly little Petro coin?The Petro Isn’t That PopularIn his never-ending quest to push a centralized, socialist form of cryptocurrency, Nicolas Maduro – president of Venezuela – has announced that he will invoke an airdrop in which one unit of Petro will be offered to every public worker living within his country’s borders.The airdrop is set to take place at around...

Nicolás Maduro plant, einen halben Petro an venezolanische Bürger zu verschenken. Berechtigt sind alle, die Nutzer der Petro App sind. Das Projekt soll eine Annäherung an die venezolanischen Kryptowährung unterstützen. 0,5 Petros für alle Nutzer der Petro App Der Präsident Venezuelas, Nicolás Maduro, kündigte die Vergabe von 0,5 Petros an. Diese entsprechen einem Wechselkurs von etwa 30 US-Dollar. Der...

Venezuelan president Nicolas Maduro just can’t seem to take a hint when it comes to the Petro.The Petro is Failing and Will Continue to Do SoIn another effort to push Venezuela’s failed national cryptocurrency, Maduro has announced that retirees and pensioners within the country are set to receive financial bonuses in Petro funds this Christmas, but does anyone really care?The currency was first introduced in early 2018 through an initial coin offering (ICO). While Maduro claimed to have sold...

A Venezuelan man has used the bulk of his bitcoin savings to pay the medical costs of his son’s birth. Many consider adequate healthcare a universal human right but only few in the inflation-ridden country can actually afford it. José Rafael Peña, a materials engineer from Caracas, outlined the payment process which took a day to clear and gave his son the best possible start at a new life. It also bolstered the case of bitcoin as a superior medium of exchange than gold: “But...

Venezuela’s President Nicolas Maduro has openly declared his regime’s love for cryptocurrencies like Bitcoin and Ethereum. The controversial politician on Tuesday said his government is using cryptocurrencies to access national and international payment infrastructure. He confirmed that Venezuela’s finance minister and central bank are close to introducing “new instruments.” It would give every Venezuelan access to “national and international payments through the central bank’s accounts.”...

A recent Bloomberg report suggests that the central bank of Venezuela is looking to add both bitcoin and Ethereum to its international basket of currency reserves.The call for digital solutions was trumpeted by state-owned enterprise Petróleos de Venezuela S.A (PDVSA) which is apparently sitting on its own secret stockpile of bitcoin. The energy behemoth manages the country's vast oil and natural gas reserves.Four anonymous officials have confirmed PDVSA's request to store and use...