Local merchants in Venezuela are speaking out against the government’s crypto coin Petro claiming that the project is a scam. U.S Immigration and Customs Enforcement are offering $5 million for information leading to the arrest of the head of Venezuela's petro cryptocurrency. The last known price of PetroDollar is 0.0227042 USD and is down -2.23 over the last 24 hours. View the Petro (PTR) price live in US dollar (USD). The petro (₽), or petromoneda, launched in February 2018, is a cryptocurrency issued by the government of Venezuela. Venezuela's President Maduro has said the nation will sidestep the dollar and use its controversial petro token for oil sales next year. Trade Bitcoin with 100x leverage on No.1 Online trading Platform! Petro is believed to be Venezuela’s first move towards getting the country out of […] Venezuela was the first to do so with the petro. Buy venezuelan petro coin dash venezuelaIn this AI age, world banking system become so much outdated that in the case of transferring mon. Lets dig deep and see if this coin has an potential and where one buy it what this coin proposes .Presale of Petro Coin has … 8 min read. The top crypto exchanges that have Petro available for trading, ranked by 24h trading volume and the current price. Petro’s developers see it as a tool to“revolutionize the world economy” and a project that will use blockchain technology to bring about an end to the centralized financial hegemony and help the countries build a “multipolar world”. Venezuela’s President Orders The Price Of The Petro To More Than Double Amid Inflationary Pressures Venezuela’s president Nicolas Maduro ordered the price of the Petro to increase from 3,600 sovereign bolivars to 9,000. Stay up to date with the latest Petro price movements and forum discussion. Use the calculator to convert real-time prices between all available cryptocurrencies and fiat. According to the white paper, the petrodollar was initially going to be an Ethereum token. Venezuela Yogita Khatri Nov 9, 2018 Or controversial. Russia Potentially Helped Venezuela Launch Petro to Dodge U.S. Sanctions Alex Moskov On March 19, 2018 Donald Trump issued a executive order banning Venezuelan President Nicolás Maduro’s oil-backed cryptocurrency, the petro. Petro (PTR) Price, Chart, Value & Market Cap | CoinCodex. What Broke Venezuela’s Economy and What Could Fix It: QuickTake. Petro coin price: What is el Petro cryptocurrency and can YOU buy some? View value statistics, market cap and supply. Yet, months after the Petro … ... USD Coin 24h $ … Another crypto firm hit with fines for violating U.S. sanctions, Analyst Lyn Alden Says Ethereum Is Still an ‘Unfinished Project’, Polkadot Flips XRP to Become the Fourth-Ranked Crypto After Price Spikes 100% in Less Than a Week, TNABC Miami’s Eighth Annual Conference Goes Virtual, Event Underscores Technology’s Important Role, Venezuelan President Maduro Promises 2021 Will Be the Year to Boost Usage of Petro, $500K Bitcoin Donation Funneled to Groups Involved in US Capitol Riot: Analysis, BitGo settles with US Treasury over 'apparent' sanctions violations, Canadian Company Mojo Invests $1.5 Million in Bitcoin, Plans to Allocate More Next Year, Billion-Dollar Wealth Manager Skybridge Capital Plans to Launch a Bitcoin Fund, Venezuela’s Asonacrip: Bitcoin Bull Run Could Help Boost Usability of Cryptos Such as Petro. The Venezuelan cryptocurrency is a question mark, an oddity, a riddle wrapped up in an enigma. Get detailed information on Petro (PTR) including real-time price index, historical charts, market cap, exchanges, wallets, and latest news. Today's value and price history. This article is opinion only and has drawn upon our network of contacts on the ground in Venezuela. Which is pegged to oil, etc. Petro is simply a method keep selling debt to foreign investors, dressed up as an oil backed cryptocurrency. As of August 2018 it does not appear to be used as a currency. As CryptoGlobe recently reported, Venezuelan president Nicolas Maduro has claimed that the Petro is backed by between five and 30 million barrels of oil.Reuters recently reported that the Venezuelan government actually possessed 39 million barrels of oil.. Unfortunately, the petro was released in February 2018, just as the whole market of cryptocurrencies was beginning to retrace dramatically. Check out our snapshot charts and see when there is an opportunity to buy or sell. But in fact, the status of Venezuela’s oil … Petro Coin ( PTR) also known as EL PETRO will be the first government backed Cryptocurrency based on ERC20 Ethereum Token. Petro (PTR) live price in US dollar (USD). Users are able to generate XPD through the process of mining. Venezuela’s 95 percent devaluation of the bolivar over the weekend is generating fresh interest in its cryptocurrency, which was designed to be devaluation-proof. It’s the world’s first sovereign cryptocurrency as it will be produced and controlled by the Venezuelan government. President Maduro calls Petro a cryptocurrency but we, at TotalCrypto, see it as nothing more than a scheme to keep his regime in power for as long as possible. Live Petro prices from all markets and PTR coin market Capitalization. “They’ve dollarized our prices. According to a report by Venezuelan media platform Tal Cual, local retail merchants are refusing to accept Petro as a form of payment, in part due to the massive hyperinflation that devalues the coin upon liquidation. Edit or add information about Petro (PTR). Petro is made with the aim for Venezuela to have acces to international financing despite sanctions. The Petro is a cryptocurrency issued by the government of Venezuela. PetroDollar (XPD) is a cryptocurrency . As such, Petro can be arguably described as a “politicized” cryptocurrency since its goals go beyond meeting the users’ or markets’ needs. Total Market Cap: M. Cap:$ 1.99T(1.4%) A list of the top Petro markets across all crypto exchanges based on the highest 24h trading volume, with their current price. “Lol Venezuela’s new petro token is an outright Dash clone,” tweeted Ethereum developer Joey Zhou. While the Maduro regime uses the Petro coin … Selling this i… In Venezuela, Cryptocurrency Is an Oppressor and a Lifeline. Besides, the petro is never again upheld completely by a barrel of oil. Venezuela’s oil-backed cryptocurrency, the petro, is a step closer to reality following the release of the official whitepaper. In the past, he has also ordered that public employees receive their Christmas bonus in Petro , with pensioners also being forced to accept the digital currency. In June, the president ordered all gas stations to accept Petro payments . Discover info about market cap, trading volume and supply. You can pay gov services with BOLIVARES, which are pegged to "petro-coins". He is also launching an additional coin in Venezuela backed by gold. Petro is backed by the oil reserves of Venezuela and is build on the NEM blockchain. ... Join Student Coin 2021's best ICO. The government of Venezuela has started requiring all gas stations in the country to sell petrol at a discount in exchange for its controversial state-issued digital currency, the Petro.. Token price: 1 PTR = 60 USD Airdrop program: No: Bounty program: No: Have escrow agent: No: Have working prototype: No: White paper: Open: Currencies: ETH: Platform: Ethereum: Location: Venezuela: Website: https://www.petro.gob.ve: Links: Cryptocurrency, Petro Coin–In a move that could have potential ramifications for cryptocurrency and economies around the world, Venezuela has officially launched the first state-backed “cryptocurrency” in the form of the Petro coin. Because all the past efforts to publicize Petro have yielded little results, the Venezuelan government has now reduced fuel prices at all filling stations in the country provided that Petro is used as a means of payment in a latest attempt to make Petro known. Up to this day virtually every article about it, and there are a lot, refers to the Petro’s mysterious quality in one way or another. Maybe they’re covering their bases and I probably am too, but that doesn’t make the Petro any less mysterious. Venezuela initiative to back a cryptocurrency and set 1 token at the price of 1 barrel of oil (which is currently at $60) is simply genius. The value of the coin is supposed to be backed by the country’s oil reserves, but details about the coin and its inner workings are scarce. Although the virtual currency wallet specifically designed for the Petro is not […] Rather, it is presently sponsored by 50 percent oil, 20 percent gold, 20 percent iron, and 10 percent jewel, the new whitepaper points of interest. PetroDollar has a current supply of 63,993,274.887257. Ironically, Venezuela’s currency controls in recent years have spurred a BTC fad among tech-savvy Venezuelans looking to bypass controls to obtain dollars or make internet purchases. VENEZUELA’S oil backed el Petro cryptocurrency aims to pull the failing country out of the depths of economic crisis. Venezuela’s native currency has also suffered devaluation through rampant inflation, and the price of even a few Petro coins adds up to several months of work for most Venezuelan citizens. An overview showing the statistics of Petro, such as the base and quote currency, the rank, and trading volume. While stores are obligated to print prices in Petros and its exchange rate to the Chinese yuan or the Russian ruble is … Petro (PTR) price ... Petro is made with the aim for Venezuela to have acces to international financing despite sanctions. There are no burned, team or smart contract locked balances to subtract. Of course the real kicker is that there is an official exchange rate for petros to bolivares, and this can change too. President Nicolas Maduro has finally confirmed that the country’s cryptocurrency, Petro will be listed on 16 crypto exchanges. While this is an important development for Petro and cryptos, it is not the first time that Venezuela’s government has used cryptocurrencies for something like this. Last month, President Maduro devalued Venezuela’s fiat currency by 96 percent and linked its price to that of the petro. This stark divergence of figures begs the question of how Venezuelan oil is valued. The government expects to circulate 100 million tokens in total, in a bid to generate over $6 billion. . Venezuela embodies the best and worst potential of blockchain technology. The Present of Venezuela has just ordered that all government consular services as well as other services and gas stations are able to accept cryptocurrencies including the nations own Petro coin. According to Maduro, the pre-sale was a big hit, as the country’s oil-based cryptocurrency is believed to have raised over billion dollars. Petro (PTR) is the latest coin to join the cryptocurrency bandwagon. The government announcement comes amid a general price hike for gasoline in the country, following the government’s decision to remove subsidies which had reduced the price per liter to essentially zero. Maduro’s regime authorized a budget of around $750,000 (75 billion bolivars), and 909,000 Petro coins for the project. The so-called Petro is Venezuela’s virtual currency launched this year. So far, there is no information about where to buy petro and what is its price. View the total and circulating supply of Petro, including details on how the supplies are calculated. Retailors say the Bank of Venezuela has … Latest attempt: Petro users to buy 60 litres of gasoline for $1.2 each month. Nicolas Maduro’s government has continued to push for the use of the Petro digital currency. Keep track of your holdings and explore over 10,000 cryptocurrencies. 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