Quote from: Aby Normal on October 03, 2018, 05:54:06 PM

Quote from: bitserve on October 03, 2018, 05:35:19 PM

Quote from: d_eddie on October 03, 2018, 05:27:19 PM

Quote from: Aby Normal on October 03, 2018, 05:16:27 PM

(snip)

Venezuela would have fast and cheap international money transfers independent from the Central Bank. If the people in Venezuela start using Petro in theirs everyday activities, it would be a big victory for whole crypto world. I'm kinda confident that they will use it since many of them depend on help sent from friends and relatives living in other countries and Petro would be cheapest and fastest way to do that, also they are prolly one of the top crypto-educated nations atm.
If I was a bankster I would be very worried now because if that works out fine for Venezuela then some other countries would follow as well Wink

Right, but I can already hear the choir of bankster FUD.

"See what they got to? That country began going to the dogs the day they revoked concessions to the big corporations, and it was downhill from there. Now they even lost control of their own money. It's going to be a hemorrhage, I tell you. See that we never get to that!"

The moment it is evident your word is worth NOTHING no one will ever trust you anymore. The moment Venezuela started expropiating corporates and revoking concessions no one would invest any single penny on it. That's not a case of bankster FUD, it's just reality... would you invest in Venezuela?

Petro will go NOWHERE. Remember it is not exactly a decentralised crypto... it is controlled by the Venezuelan government. So much for trust, uh?

Unfortunately Venezuelan people as well as all other people in the world are obliged to use theirs official national currencies in their everyday life, of course its not decentralized nor it has any tech innovation, but at least they will be able to use CRYPTO for theirs everyday activities, millions will be paying bills and buying stuff with Petro since getting cash in fiat money there is really pain in the ... loses value between the time you earn some money and spend it, real problem of everyday life there that could be solved if Petro survives the bankers intervention which will surely come in all kinds of FUD and even the military intervention is not excluded if Petro becomes a danger for them...

I don't agree with what this petro coin stands for but when it comes to crypto this president will get his people to obtain the only way they can. That would be with having to purchase it with bitcoin (or ether) and with a lot of buying up of bitcoin all at once will drive up the price as well. It will be at a cost of being a political sabotage of this Central America country.
But the bulls won't care where the money that's coming into crypto is from.

Courtesy of last of the v8s.