Quote from: Blocktoq on January 21, 2020, 01:39:18 PM

The plans for the introduction of official cryptocurrencies by governments have been talked for a long time but Venezuela was the first to take action. However, should other countries follow the place where hyperinflation and bad governance play the first fiddle...

Can't read full article (blocktoq sucks, no scripts = no content).

Gambling in Venezuela is nothing new, its regulated but at some point a decade ago the government tried to close down the casinos (which legally are only allowed in 5 star hotels, which is why they call them "Bingos" instead). But then there are a lot of informal gambling parlors. And the main business (i think) is with sportbook betting.

Accepting Petro is something any random online website can do if they want to take the risk. Exchanging them into something useful would be the main PITA. You can in theory just open your own petro wallet (KYC req), which is centralized to a single gov operated server; then exchange them at one of the authorized exchanges or the gov operated exchange. Oh did i mention they will give you a single address?.

Petro is centralized. You cannot own wallets or operate nodes, they did not provide the source code modifications they did to Dash to turn it into Petro. It all depends on that gov operated server which might fail to respond at random. Venezuela's internet (or electricity) isn't exactly great either.

Note that with the ruined economy its probably not like it used to be 7 or 20 years ago. I'm sure there is still a rich (gov linked) minority that keeps many of those profitable, but this is nothing like it ever was.

My opinion: do not mess with Petro, even for gambling.