Tag Archive: Nicolas Maduro

  • Altcoins, News, News teaser

    India: No Plans to Use Venezuelan Petro to Pay for Crude Oil

    India has no plans to use Venezuela’s cryptocurrency – the Petro – to pay for crude oil imports from the South American country. India is already a regular customer of Venezuelan oil, and it was recently offered a 30% discount on crude oil imports if the government paid in Petro. India’s Cryptocurrency Ban Disrupts Venezuela’s Trade Plan According to reports, India’s Foreign Minister Sushma Swaraj cited the order from India’s central bank stating that the country

    · May 30, 2018 · 9:30 am
  • Petro Altcoin News, Altcoin Price, Altcoins, News, News teaser

    Central Bank of Venezuela to Receive $1 Billion from Petro Sale

    The Central Bank of Venezuela will receive $1 billion from the proceeds of the Petro sale.  Petro Sale Exceeds $3 Billion President Nicolas Maduro made the announcement in a statement to reporters on April 26, 2018. The money is being earmarked for foreign exchange auctions as the country tries to recover from a crippling economic crisis. According to the Venezuelan President, early sales of the Petro cryptocurrency exceeded the $3 billion mark. Thus, he has

    · April 27, 2018 · 3:00 pm
  • It’s a Hard No From the US Altcoin News, Altcoins, News, News teaser

    Venezuela’s Petro Now Purchasable with Foreign Fiat

    Last month, Venezuela became the first country to issue its own cryptocurrency with the launch of the purportedly oil-backed Petro. Now, the digital currency is available for purchase with a variety of fiat currencies — just not the dollar. Petro for Fiat Venezuelan citizens, companies, and other interested parties may now purchase the country’s oil-backed cryptocurrency with a selection of fiat currencies. In an announcement made on national television last Thursday, Venezuelan President Nicolas Maduro stated:

    · March 25, 2018 · 4:45 am
  • Altcoins, Breaking News, News, News teaser

    President Trump Bans US Citizens from Buying Venezuela’s Petro

    The Venezuelan Petro’s alleged astronomical success could be under threat as US President Trump puts plans in process to prohibit American citizens from purchasing the digital currency. It seems as if President Trump has thrown a cog in the apparent billion-dollar machine that is Venezuela’s Petro. According to Bloomberg, the US president issued a prohibition order on Monday banning the country’s citizens from going anywhere near the South American country’s first state-issued virtual currency. To

    · March 19, 2018 · 4:00 pm
  • Petro is a farce Altcoin News, Altcoins, News, News teaser

    Petro is a Terrible Investment (If You Didn’t Already Know)

    Near the middle of February, collapsing socialist country Venezuela launched Petro — the world’s first state-issued cryptocurrency — purportedly backed by the country’s oil reserves, and there is quite literally no reason anyone should ever invest in the farce. Backed by Incompetence President Maduro’s decision to create his own cryptocurrency might seem strange, given that Venezuela itself is in the throes of an extreme economic crisis. In addition to human rights abuses, the entirely incompetent

    · March 6, 2018 · 4:00 pm
  • Venezuela Altcoin News, Altcoins, Bitcoin Technology, Emerging Markets, News, News teaser

    Venezuela Opens State-Funded Crypto School as Citizens Starve

    Days after launching the world’s first ever state-issued cryptocurrency, the government of Venezuela has opened up a cryptocurrency school for its citizens — presumably to educate them on the glory of Petro. Prioritizing Petro According to reports, the government of Venezuela has opened the doors to a cryptocurrency training center at the Granja Laboratorio Petro School in Caracas — supposedly to educate interested citizens on how to buy, sell and mine cryptocurrencies, as well as illustrate

    · February 26, 2018 · 9:30 pm
  • Altcoin News, Altcoins, News, News teaser

    World’s Most Miserable Country to Launch Its Own Cryptocurrency Today

    Venezuela’s state-backed cryptocurrency, Petro, is about to hit the market. Amidst an extreme economic crisis in the South American country, however, there is little reason to expect anything other than failure. State-Issued Crypto Amidst a Crumbling Economy Today, Venezuela is scheduled to launch the world’s first ever state-backed cryptocurrency with its new oil-backed Petro token, which many are construing as a desperate cash grab by a corrupt government amid an ever-worsening economic meltdown. Called Petro,

    · February 20, 2018 · 11:30 am
  • Altcoins, Blockchain Technology, News, News teaser

    Venezuela’s National Cryptocurrency ‘Petro’ Expected to Go Global

    According to a Venezuelan official, Tuesday’s Petro pre-sale will have international reach, drawing potential investors from the US, Europe and the Middle East. It was just over two months ago that Venezuela’s president, Nicolás Maduro, announced his bold plan to introduce the country’s first state-controlled cryptocurrency. The Petro would act as a way to circumvent US-imposed sanctions, as well as combat hyperinflation in the country. In the case of the former, US financial institutions have

    · February 18, 2018 · 2:00 pm
  • Altcoin News, Mining, News, News teaser

    President Maduro: Venezuela to Launch ‘Petro’ Pre-Sale on February 20

    In a move that the government hopes will bring much needed economic relief, Venezuela’s President Nicolas Maduro announced earlier this week that the pre-sale of the country’s new ‘petro’ cryptocurrency will begin on February 20. A Cryptocurrency Backed by Crude For years, Venezuela has been struggling with rising economic and political problems. The South American country has under heavy international sanctions due human rights abuse and corruption and, thanks to extreme hyperinflation, the bolivar has lost 97%

    · February 3, 2018 · 2:30 am
  • It’s a Hard No From the US Altcoin News, Blockchain Technology, Emerging Markets, Ethereum, Mining, News, News teaser

    US Treasury Warns Investors: Venezuela’s Petro Could Violate Sanctions

    The US Treasury Department has cautioned investors that Venezuela’s Petro could be in violation of Washington-imposed financial sanctions. In December last year, Venezuelan president Nicolás Maduro announced that his government would be creating a digital currency, the Petro. In a country that is rapidly spiraling into a financial abyss, Maduro sees the state-controlled cryptocurrency as a sanction workaround and subsequently, a way to improve the country’s deep economic problems. During his annual message on the

    · January 18, 2018 · 1:00 am
  • Coinsecure Goes For Petro? Altcoin News, Legislation, News, News teaser

    Venezuela’s Parliament: Maduro’s Petro Cryptocurrency ‘Illegal’

    Venezuela’s president may have to put his Petro plans on hold as the country’s opposition party has outlawed the proposed state-controlled crypto. As decentralized cryptocurrencies continue to shine and grow in interest, certain governments are becoming aware of the benefits that virtual currencies have. Countries like Russia and Venezuela are reportedly aiming to introduce their own state-controlled cryptos soon, with latter seeming to make great progress in doing just that. In a bid to fight

    · January 10, 2018 · 11:30 pm
  • It’s a Hard No From the US Altcoins, Emerging Markets, Mining, News, News teaser

    Venezuela Petro Cryptocurrency ‘Will be Worth $5.9B’ Says Maduro

    Crisis-hit Venezuela will issue its own oil-backed cryptocurrency, Petro, with an implied value of $5.9 billion as its economy continues to decay. 100 Million Petros ‘Ordered’ At $59 A Piece In what appears to be a last-ditch attempt to circumvent US sanctions and keep cash flowing into the country, President Nicolas Maduro announced 100 million units of its Petro cryptocurrency would enter the market. The announcement, according to Reuters, came during the President’s appearance on

    · January 6, 2018 · 11:45 am
  • Bitcoin, Legislation, Mining, News, News teaser

    Venezuela Now Requires Bitcoin Miners to Register with the Government

    Bitcoin mining has exploded in Venezuela due to the country’s massive hyperinflation. Now the Venezuelan government is requiring bitcoin miners to join an online registry. It seems that the misery of the Venezuelan people knows no end. The South American country’s economy has been hammered by massive hyperinflation due to the policies of the authoritarian government, now headed by President Nicolas Maduro. Many people, both poor and rich, have turned to mining Bitcoin in order

    · December 14, 2017 · 3:15 am
  • Altcoins, Bitcoin, News, News teaser

    Venezuela Launching Oil-Backed Cryptocurrency – the Petro!

    President Nicolas Maduro of Venezuela has announced the creation of a new national digital currency – the Petro. He believes that this cryptocurrency will fight off the effects of the US-led sanctions. The economic situation in Venezuela is in total freefall. The once-prosperous South American nation has descended into chaos over the last few years as the central government has become more authoritative. The national currency, the bolivar, has fallen in value by a staggering

    · December 4, 2017 · 2:45 am
  • Starving Venezuelans Turn to Bitcoin Mining in Desperation Bitcoin, Ethereum, Mining, News, News teaser

    Starving Venezuelans Turn to Bitcoin Mining in Desperation

    Many people in the troubled South American nation have turned to Bitcoin mining in a desperate attempt to fend off starvation and keep their families alive. The once thriving South American nation of Venezuela has been sliding into an economic apocalypse over the last few years. The socialist regime of Hugo Chavez has been followed by current President Nicolás Maduro, and the economic policies put in place has transformed a country with more oil reserves

    · August 9, 2017 · 10:45 am
  • Venezuela Bitcoin, Legislation, News, News teaser

    Bitcoin Liftoff? Now Venezuela is Ditching Big Bills to ‘Fight Mafia’

    Venezuela has announced the sudden withdrawal of its highest-value banknote, replacing it with coins ahead of a sudden major currency restructure. President to Mafia: ‘Stay Outside With Your Scam’ The country’s bolivar fuerte, introduced in 2008 and since almost crushed under inflation, currently comes in denominations of up to 100 units. The 100 bolivar note, worth around $0.02 USD on the black market, will be removed Wednesday, as Venezuelans have just 10 days to hand them

    · December 12, 2016 · 5:05 am