Tag Archives: Venezuela

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...

Well, well… The truth has come out. Despite Venezuela pushing for Petro adoption and allegedly threatening cryptocurrency miners, the country seems to have its own private stash of both bitcoin and Ethereum – and it has no idea what to do with it. Venezuela and Crypto: A Strange MixVenezuela has had a strange relationship with cryptocurrency. The country initially began pushing for widespread use of the Petro beginning in February 2018. The currency is allegedly backed by the country’s many...

Ein Venezolanischer Bolívar ist weniger Wert als ein Satoshi. Am 20. August 2018 wurde ein weiterer Währungsschnitt im Verhältnis 1:100.000 durchgeführt. Hierzu wurde zur Unterscheidung die Bezeichnung Bolívar soberano verwendet. Aber mittlerweile zeigt nicht mal mehr Google den Wechselkurs an, da diese Währung praktisch nur noch auf dem Schwarzmarkt getauscht werden kann....

Venezuelan President Nicolas Maduro has mandated that the country’s oil-backed cryptocurrency, the Petro, must be used to fund the ‘Great Housing Mission Venezuela’ social housing program. Ildemaro Villarroel, the minister of popular power for habitat and housing - the department overseeing the housing project - confirmed that the program will be funded using the Petro. In an announcement posted on the department’s website, the minister described the financing mechanism as offering greater...

Venezuelan President Nicolas Maduro is pushing for Petro adoption, but locals are buying bitcoin in record amounts. | Image: Shutterstock The largest bank in Venezuela, the state-owned Bank of Venezuela, appears to have launched services to facilitate transactions in the country’s state-issued oil-backed virtual currency, the Petro. According to Decrypt, Bank of...

Der Bitcoin-Handel (BTC) erreicht in Venezuela einen Rekordwert von 115 Milliarden Bolívar – und das pro Woche. Das kommt einer regelrechten Explosion an der Krypto-Börse gleich. In der letzten Woche konnte das BTC-Handelsvolumen auf der Exchange LocalBitcoins in Venezuela einen neuen Höchststand erreichen. 115 Milliarden Bolívar sind eine Ansage. Dagegen fiel vor allem die schwache lokale Fiatwährung auf. In der Vorwoche lag der Wert noch bei 77 Milliarden...

Wie eine Statistik von Coindance zeigt, explodiert der Handel auf Localbitcoins in Venezuela diesen Herbst förmlich. Der Bitcoin-Handel (BTC) erreicht in Venezuela einen Rekordwert von 115 Milliarden Bolívar – und das pro Woche. Das kommt einer regelrechten Explosion an der Krypto-Börse gleich. In der letzten Woche konnte das BTC-Handelsvolumen auf der Exchange LocalBitcoins...