Yeah that's a good idea and market opportunity, and might be very profitable for the platform in the coming years, as a lot of young people are becoming increasingly interested in investing in crypto and, well, they usually lack money to do that. Myself included😂

JUNE 11, 2018 10:20 AM
The former Minister of Basic Businesses and Mining considers that the failure of the cryptocurrency was due to government mistakes such as backing it with resources that are in the subsoil, something prohibited by the Constitution and the Hydrocarbons Law. If oil production continues to fall, "in the second half of 2018 Venezuela will close with a pump of 800,000 to 900,000 barrels per day, which would no longer be an OPEC country in December," he warns.

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really that was already true from minute one

Sure! Our platform aloows to trade stocks for fiat money, digital stocks for crypto, and exchange digital stocks to stocks, or exchange crypto to fiat. It means, you can invest in crypto and hide from volatility in - for example - crypto gold or crypto microsoft stock - or you can exchange your bitcoin for a dollar, and wire it to you bank account. Or you can, for example, choose to buy apple stock with your dollars too. Or you can but a crypto apple, and then change it to a real apple share. It's not a crypto-crypto only investment; it's all the markets you can imagine entrance (step by step). 

To be honest, I don't think venezuela's oil money is good news.
Because the currency was created only to avoid U.S. economic sanctions.

What figures? It seems rather that it's dying. Maduro doesn't speak about it anymore, the ICO keeps being a failre and Venezuala is still in deep crisis.

Latest news: India Refuses Oil Trade with Venezuela Using 'Petro' Cryptocurrency

Let’s wait and see, Maduro has already admitted that oil industry in deep crisis, and Trump’s administration, as many sources claim, is gonna impose tough sanctions on this sector. I believe there going to be some moves from both sides,
And the question is, will El Petro be able to survive it?

Participation levels in an election is a measure of democracy for sure.   People can skip for various reasons and just not be engaged or the worry is that the population is excluded or in some way filtered like happened with racism in USA at points in its history.   Wider monitoring was really needed from every country of the UN and with thousands of monitors for sure, just one head of an organisation walking around nodding their head to me adds little extra confidence.    This applies to lots of countries, there is no perfect instance and I hear little news coverage especially on Venezuela unfortunately.


I agree, the financing falling apart will have a large effect but also oil or any commodity to some extent itself is a kind of currency and I have to wonder how these companies with such a large resource ended up not being able to conduct themselves efficently with previous profits and successful extraction.
In China I remember reading how they banned the use of copper as a proxy for currency, it was being held and exchanged to settle bills and this was outlawed.  Of course copper has a history over thousands of years as a currency and the whole crytpo currency phoneomena we are seeing is related to dollars becoming less used and other elements more useful in exchanging value.   I think oil and gold will be part of that, Hugo Chávez thought this about gold I think

Btw I heard from the news that Venezuelans and Iranians prefer bitcoin to their state-developed cryptocurrencies, so it’s not a big news that the authorities try to improve the situation on governmental level 

I don't think they removed it but what is sure their website is very often down or in maintenance.

Luckily, I'm not an American. What I meant was not the fact that the company is Russian and it is very bad. But the fact what kind of company it is. If it was just a technology company fine no problems with that. But NEM is an affiliated company of Russian government, which purpose is to test instruments for money laundering for Russian regime

[UPDATE] Petro distribution has started!

I have a first transaction on Sunday 6th May. Strange that the amount is not shown in the main bar of the wallet. It still shows 0. Is it the same for you?

Also read an interesting article on the topic. Maduro dwells on how El petro is aimed at stabilizing economy but in fact it will only cause further hyperinflation. Here is the article: https://m.aporrea.org/economia/a262537.html

Yes. A couple of such successful projects at the state level, and there will be universal crypto recognition. We hope and expect.