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According to their press release, Smart Valley is discontinuing ICO as they've found an Investor. Check it out on the website if you haven't seen it yet https://smartvalley.io
The project I believed in and invested in turned out to be a scheme for collecting money or whatever. I'm pissed with the situation and it's my fucking money at stake. I mean, will they even pay back to those who invested during the ICO and presale stages?
Guys, what do you make of it? I just hope that karma is a bitch
The project I believed in and invested in turned out to be a scheme for collecting money or whatever. I'm pissed with the situation and it's my fucking money at stake. I mean, will they even pay back to those who invested during the ICO and presale stages?
Guys, what do you make of it? I just hope that karma is a bitch
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
http://lared.com.ve/noticias/tareck-el-aissami-pretenden-imponer-precios-especulativos-de-criptomonedas-en-venezuela/ now the government blames bank accounts and speculation that harm El petro, but not their own mistakes.. like, I mean what kind of Soviet Union rhetoric is that to always blame some external enemies and never assume your own fault
https://www.youtube.com/watch?v=htLT6McxSzYYes that was my perception also. The people who trade dollars are in the wrong for offering a free market price just like any other product in the country is that message I guess. Its a very different principle to what I'm used to which is free competition, every dog has his day. If one man sells iced lemonade for 1 gold coin on a hot day, he is maybe profiteering but also this product can be sold by his neighbour for half a gold piece and then another will sell it for one tenth of a gold piece. Before long the market will have found a good price for the consumer, the early sellers might get some profit and unfairly in the view of some but eventually the lions shares of profit (revenue) goes to the most efficient lemonade seller. Or possibly just the best recipe ! Society benefits from competition, its the individuals who are risking loss mostly and I dont believe in regulators as a control or creator.
Its better to have too many sellers or even too expensive a product then ban the idea of the maker or company having the freedom to sell for whatever they like. Establishing or making a market is also important and theres usually risk and costs to setup. I'd apply that idea to anything even the money changers and sure maybe some take advantage but I'd rather have too many trying to make a profit then nobody and with high unemployment its essential to allow business. USA, EU has this problem also, normally their red tape laws include a clause that excludes a business of 50 or under otherwise it would be similarly oppressive.
If they did fail to progress PTR it was probably some conflict between these ideas, thats really for a market to work out and risk in ventures. Not a fan of excessive control, it can extinguish growth when new market sectors need plenty of air in their beginnings
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Imagine that the government sells lemonade at $ 0.1. But he only sells 100 lemonades every two months. What do the 100,000 people who need lemonade every month to live, buy, work, ...?
The Bolivarian regime is a monopoly imposed, limited, sectoral (only friends receive the lemonade) and ruinously managed
I have conflicting feelings about El Petro and Maduro's experiment. On the one hand, he tries to defeat inflation, to become one of the most progressive countries, physically provision of cryptocurrency. But for me, there is one contradiction. The meaning of bitcoin is that any person can invest and become rich. But Venezuela's coin is designed to make the rich even richer, but the poor have lost their last money. This is not a principle of decentralization, it is a fiat simply wrapped in a beautiful and modern digital wrapper. Maybe I'm wrong, but this is my opinion.
I will not comment Putin. He is not an authority for me and an absolutely empty place.
I should agree with you here, in your second point. But regarding the first, I think that becoming progressive country and avoiding inflation are just his empty words that mean absolutely nothing because after his reelection he only speaks about it, and doesn't do anything although now with his regained power he has all the field for actionI will not comment Putin. He is not an authority for me and an absolutely empty place.
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
Man, I agree with you completely on the subject of El Petro but the way you present it make people think you are flooding the thread with nonsense, sorry
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
Amateurs or not they still have been able to interview the developer and it looks like the overall situation is not ideal.
You are right. But actually they are no amateurs. So if anyone knows Spanish I recommend to read the article as I did translate only a very small part of the interview with the developer:
https://awriterwithfreedom.wordpress.com/2018/05/19/el-petro-es-el-hijo-malquerido-de-dos-rusos-muy-cercanos-al-escandalo/
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
One of the developers present at the "launch" in February...
and your source is an anonymous story from a free wordpress blog.very convincing.
AHAHAHAH they're hilarious... beyond imagination. A wordpress blog for a teenager bedroom conspiracy.
I think Putin is watching carefully because if it works then he will introduce a similar coin from Russia. Putin will support anything that will help to reduce the reliance of trade on the US dollar so it is all inter-related.
Although From what I know, Putin is quite conservative when it comes to.technology. He bans everything progressive, like Telegram for example. I think he might agree to launch crypto if it proves to be a means of pertaining power. Or making big money. But not for the country, for himself and all Russian millionaires. Lets wait and see, Maduro has already admitted that oil industry in deep crisis, and Trumps 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?
And the question is, will El Petro be able to survive it?
El Petros figures are actually rising, what kind of survival are you talking about?
Latest news: India Refuses Oil Trade with Venezuela Using 'Petro' Cryptocurrency
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
Venezuela economy is pretty dead for now, they just postponed the new Bolivar notes for another minimum 60 days maximum 90 days....crypto is obviously not a priority anymore...
Honestly I think it was dead before too. But Maduro had his bravado and enthusiasm. And now he doesn't even talk about his cool progressive initiatives. Feels like he's given up on trying to make improvements and focused on maintaining powerRe: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
India says no plans for oil trade with Venezuela using 'petro' cryptocurrency
Reuters|May 28, 2018,
NEW DELHI: India said on Monday it had no plans to use Venezuela's local cryptocurrency 'petro' in oil trade with the Latin American nation, which is facing sanctions from the United States.
Responding to a question at a news conference, Foreign Minister Sushma Swaraj cited an order by the country's central bank saying it did not allow trade using cryptocurrency.
Venezuela, whose oil output is falling under pressure from the U.S. sanctions, is offering discount on oil sales done in 'petro'.
Indian media earlier reported that Venezuela had offered as much as 30 percent discount on oil sales to Indian refiners provided they traded in 'petro'.
I knew they would refuse the offer even tho many people in this thread was very enthusiastic about the deal. El Petro is as far from worldwide acceptance as everReuters|May 28, 2018,
NEW DELHI: India said on Monday it had no plans to use Venezuela's local cryptocurrency 'petro' in oil trade with the Latin American nation, which is facing sanctions from the United States.
Responding to a question at a news conference, Foreign Minister Sushma Swaraj cited an order by the country's central bank saying it did not allow trade using cryptocurrency.
Venezuela, whose oil output is falling under pressure from the U.S. sanctions, is offering discount on oil sales done in 'petro'.
Indian media earlier reported that Venezuela had offered as much as 30 percent discount on oil sales to Indian refiners provided they traded in 'petro'.
As I pointed out in a similar thread, I believe that it has no future as it never had. It was just a clever devised instrument of Maduro to get people's trust and win electoral race. That's it. All the talk about its profits and economic zones is bollocks. It won't drive Venezuela out of crisis or do anything beneficial to the country
Re: Banks will trade cryptocurrency sooner than people think
I wish it was true..but for now only such countries as Venezuela, Iran, Russia and others of the kind are implementing blockchain in their financial systems via central banks. Surprisingly, and at the same time not. I explain this to myself as an attempt of those countries to launder money and develop underground economy where common economic measures fail. But I wish people saw blockchain from another angle. Not as a means to mistreat people but to help. For example, Venezuela could use blockchain to provide transparent and honest elections, instead it chose to create that scam of El Petro. I wish that one day banks would really sell tokens not money but feels like first developed countries should take a lead and set an example
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
Right, I agree that there's too much talk about elections, but El Petro and Venezuelan government are inerconnected. Now feels like everything will be according to Maduro's plan and I want to ask you guys what do you think of economic zones using El Petro ? Do you think this idea is worthy?
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
The abstention and boycott of US funded mafia opposition didn't work much: they could have won, maybe, if they presented a single candidate. But they are wealthy, white coup plotters and massively corrupted, so they prefer to avoid participating in democracy (with all the excuses we know well). Most of them are paid by the US to boycott democracy, and their own country. So fuck them! Good luck Venezuela!
Maduro was reelected President with 68% of the popular vote = 5.8 million votes (not 100% of the votes counted yet). NOW FIESTA! Y viva el Petro!
Eso es seguro! Todos con Maduro!
https://www.youtube.com/watch?v=qKFi-Hvg3Rc
https://i.imgur.com/8sFuHle.jpg
https://i.imgur.com/kkuQiuJ.jpg
Maduro was reelected President with 68% of the popular vote = 5.8 million votes (not 100% of the votes counted yet). NOW FIESTA! Y viva el Petro!
Eso es seguro! Todos con Maduro!
https://www.youtube.com/watch?v=qKFi-Hvg3Rc
https://i.imgur.com/8sFuHle.jpg
https://i.imgur.com/kkuQiuJ.jpg
Personally, for me these 68% are just numbers. Almost 70% of citizens abstained from voting. So their opinion just kinda didn't count. I know that this thread is not so much about politics but when the opinion of more than half population on such important matter as power is not presented, this just doesn't work. Nunca. Never
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
So, now after Maduros win a new wave of sanctions is about to come, will it affect El Petro?
I dont know why people here ignore the fact that Venezuelan oil industry is having a really hard time at least, whereas this particular crypto is oil-backed. I dont see how Venezuela will survive a new pack of sanctions
It's no secret that Venezuela has huge inflation. Nicholas Maduro tries with the help of crypto currency to solve problems in the Venezuelan economy, as this will help to avoid the dollar and circumvent the sanctions. The name of this crypt El Petro, and secured it will be OIL! Donald Trump banned this coin for the US, to exert pressure on Nicholas Maduro, but thus increased the popularity of El Petro. There are also rumors that Russian names have helped in the development, names like Denis Druzhkov and Fedor Bogorodsky, in particular, it is alleged that the president of Venezuela, Nicolas Maduro, was advised by Russian billionaires directly related to the Kremlin. It is assumed that, having secured the support of President Putin, they were responsible for developing El Petro. Do you think there is a future for El Petro and will this coin help Venezuela?
P.S. Sorry for my English
P.S. Sorry for my English
They wouldnt do anything good with El Petro, but, most importantly, Venezuelan people still prefer bitcoin and Maduro has to force Petros use))
This would certainly help Venezuela.
And it can be profitable if Venezuela government works in favor of investors.
They can boycott IMF and world bank by selling their own using El Petro while increasing the value of token.
And it can be profitable if Venezuela government works in favor of investors.
They can boycott IMF and world bank by selling their own using El Petro while increasing the value of token.
I wouldnt be so confident. Petro is Venezuelas weapon in economic war with the first-world countries with developed economies, so, although Maduro is actively promoting El Petro, I dont think it will be enough
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
i think they are waiting for the next presidential elections (next sunday)
- if Maduro wins, petrocoin will continue and it will be released soon.
- if Maduro loses, petrocoin buyers are fucked because the U.S. dictatorship will shutdown the petrocoin.
well... the next president start the next year (2019), so... who knows what's going to happen.
Doesn't it bother you that the Petro you invest in depends so much on international politics?- if Maduro wins, petrocoin will continue and it will be released soon.
- if Maduro loses, petrocoin buyers are fucked because the U.S. dictatorship will shutdown the petrocoin.
well... the next president start the next year (2019), so... who knows what's going to happen.
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
Well that one is actually hilarious
US propaganda on a Russian channel called Russia Today? Really? I know you believe in El Petro, but why dont you face the fact that its because of Maduro and his fake elections we might lose our money due to The destruction of Venezuelan oil industry? My point is, not all bad news are propaganda
Yeah and they all say that only stupid Americans believe this crap when even so supportive Russians stopped believing in El petroUS propaganda on a Russian channel called Russia Today? Really? I know you believe in El Petro, but why dont you face the fact that its because of Maduro and his fake elections we might lose our money due to The destruction of Venezuelan oil industry? My point is, not all bad news are propaganda
Block chain technologies in the hands of dictators like Venezuelan Maduro with his el Petro are like kept to become a cause of poor countries economic downturn. Look what happend to Venezuelaa oil industry, oil-backed crypto is next to go