Tag Archive: Venezuela

  • eToro Exchange Clarify Position on Bitcoin2X and Bitcoin Gold Mati

    Think Long Term and Short

    The crypto-community may have done a fair bit of Buffett-bashing and even a bit of Dimon-drubbing of late, but the fact remains that these two men are legends in the field of finance and possess vast knowledge and wisdom especially when it comes to traditional finance. This week, the dynamic duo published a brilliant letter in the Wall Street Journal urging corporate America to look past their own noses. The specific calls to action included asking companies not

    · June 8, 2018 · 11:00 am
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    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
  • Venezuela bolivar satoshi Bitcoin, Bitcoin Investment, Bitcoin Price, News, News teaser

    One Satoshi (Bitcoin’s Smallest Unit) Now Worth Over Five Venezuelan Bolivars

    A single satoshi, or one one-hundred-millionth of a bitcoin, is now worth nearly six Venezuelan bolivars – according to the ‘official’ rate.  Not Worth the Paper It’s Printed On Unlike physical money or digital fiat, a bitcoin can be divided into much smaller fractions. The smallest possible unit, called a ‘satoshi,’ is 0.00000001 BTC, or one one-hundred-millionth, of a single bitcoin. Now – just seven months after the satoshi reached parity with the bolivar – Bitcoin’s

    · May 25, 2018 · 7:00 pm
  • russia sanctions Altcoins, Companies, News, News teaser

    Venezuela Leverages Russian Bank Stake To Bypass US Petro Sanctions

    Venezuela is taking advantage of its 49% stake in a Russian bank, and using it to skirt US sanctions on its cryptocurrency Petro, according to reports. Buy Petro For €1k At Moscow Bank As the Associated Press (AP) reported May 14, Evrofinance Mosnarbank has become the only international partner willing to accept investments for purchasing Petro, which allegedly raised $5 billion during its ICO. The move reflects the continued involvement on Russia in the story

    · May 16, 2018 · 5:00 pm
  • Iran Turns to Bitcoin in Preparation for Renewed U.S. Sanctions Altcoin News, Bitcoin, Bitcoin Acceptance, Bitcoin Regulation, News, News teaser

    Iran Turns to Bitcoin in Preparation for Renewed U.S. Sanctions

    With U.S. President Donald Trump declining to renew a nuclear deal with Iran, citizens of the country are turning to Bitcoin. Iran is facing renewed sanctions from the United States which could signal the start of new economic problems. There are also reports that the Iranian government is looking to create a state-owned cryptocurrency. Impending Economic Troubles Fresh sanctions from the U.S. will adversely affect Iran’s exports especially oil which forms a considerable portion of

    · May 10, 2018 · 8:00 pm
  • Venezuela Touts Petro To India, Coinsecure With 30% Oil Discount Promises Altcoin News, Altcoins, Bitcoin Businesses, News, News teaser

    Venezuela Touts Petro To India, Coinsecure With 30% Oil Discount Promises

    Venezuela is leveraging its oil wealth to shoehorn president Nicolas Maduro’s Petro cryptocurrency into foreign markets. Coinsecure Goes For Petro? The practice came to light following local media in India reporting Caracas had offered a 30% discount on its crude oil imports if the government paid in Petro. At the same time, a delegation visited India in March and came to an agreement with embattled local Bitcoin exchange Coinsecure to offer the trading of Petro

    · May 1, 2018 · 7:00 pm
  • 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
  • Altcoin News, Bitcoin, Bitcoin Businesses, News, News teaser

    2.7 TRILLION Bolivars: Venezuela Bitcoin Trading Hits All-Time High

    Venezuela Localbitcoins users traded a record 2.7 trillion bolivars in the week ending April 14, new data shows. $55 Million A Week In Bitcoin Coming just after the debt-ridden country’s parliament formally approved a law requiring all government institutions to accept its Petro cryptocurrency by July, the astonishing numbers dwarf any other week since records began in 2013. Trading figures are compiled by monitoring site Coin Dance, which uses official exchange rates for the US

    · April 16, 2018 · 7:00 am
  • It’s a Hard No From the US Altcoins, News, News teaser

    Venezuela Decrees Petro ‘Cryptocurrency’ as Legal Tender

    All transactions involving government institutions in Venezuela must now accept Petro — the first ever state-issued cryptocurrency — as legal tender, according to an official proclamation in the country’s Official Gazette on April 9. From that date, every such institution has 120 days to comply. All Petro Everything Venezuelan President Nicolás Maduro has ordered all institutions under the government’s umbrella to accept Petro as legal tender. As reported by Bloomberg, the government of Venezuela has

    · April 14, 2018 · 5:00 pm
  • South Korean Capital Looks to Launch City-Wide Cryptocurrency S-Coin Altcoin News, News, News teaser

    South Korean Capital Looks to Launch City-Wide Cryptocurrency S-Coin

    Following suit with various other cities around the globe, South Korea’s capital city is looking to become one of the largest cities in the world with its own official cryptocurrency. S stands for S-coin South Korea is already one of the cryptocurrency capitals of the world. As such, the country’s capital city of Seoul is looking to adopt its own official cryptocurrency. Seoul’s mayor, Park Won-soon, proposed the idea to launch a city-wide digital currency

    · April 5, 2018 · 1:00 am
  • Silicon Valley Philanthropists Dig Deep into their Crypto Wallets during Fundraising Event Bitcoin, Markets and Prices, News, News teaser

    Bitcoin is Making Currency Manipulation Difficult for Central Banks

    Bitcoin was largely created as a means of undermining the control of governments and traditional financial institutions. Now, the dominant cryptocurrency by market capitalization is making it difficult for governments and central banks to manipulate their own fiat currencies. Losing Their Grip Bitcoin and other cryptocurrencies have made it easier than ever to move money across borders — and governments the world over aren’t too happy about it. As noted by The Telegraph, the ability

    · March 31, 2018 · 10:00 am
  • Coinsecure Goes For Petro? Altcoin News, News, News teaser

    Bitfinex Bans Venezuela’s Petro Token

    Bitfinex, the largest cryptocurrency exchange, has issued a statement today regarding its restriction of Venezuela’s state-issued Petro Token (PTR). Bitfinex has No Love for Petro Near the middle of February, the government of rapidly-declining socialist country Venezuela launched Petro – the world’s first state-issued cryptocurrency. The cryptocurrency is purportedly backed by the oil-rich South American country’s oil reserves, but many view the project as little more than an attempt at circumventing US-imposed economic sanctions. One

    · March 27, 2018 · 1:00 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
  • Altcoin News, Altcoins, Emerging Markets, News, News teaser

    Venezuela Sold $5 Billion in Petro Cryptocurrency, Claims President

    Venezuelan President Nicholas Maduro has claimed the successful launch and sale of Petro — the first ever state-issued cryptocurrency. Petro Cryptocurrency Sale Reportedly Tops $5 Billion Petro is the first cryptocurrency which is purportedly backed by natural resources. According to Venezuelan President Nicholas Maduro, the sale of his pet cryptocurrency has raked in over five billion dollars during its pre-sale period. The cryptocurrency has also reportedly received 186,000 certified purchases. If true, Petro could potentially

    · March 12, 2018 · 9:30 am
  • 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
  • Mine Bitcoin, Emerging Markets, Mining, News, News teaser

    Mapped: Cheapest & Most Expensive Countries To Mine Bitcoin

    Where you live in the world affects how profitable your Bitcoin mining operation is, according to an analysis of worldwide electric prices by lighting company Elite Fixtures. Bitcoinist reviewed the data and mapped the energy costs for mining 1 BTC across the globe. Electricity = Bitcoin Energy prices around the world vary depending on a range of factors, including government subsidies and access to natural resources. These same factors impact how much it costs to

    · March 6, 2018 · 2:30 am
  • 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
  • Venezuela Altcoin News, Altcoins, News, News teaser

    Venezuela Decides One Coin’s Not Enough, Readies New ‘Petro Gold’ Token

    Things are only getting weirder in Venezuela, as President Nicolas Maduro decides that one state-issued cryptocurrency farce isn’t enough. Now, the socialist country with a crumbling economy is ready to launch second Petro token — called Petro Gold. Maduro’s Vision Earlier this week, collapsing socialist country Venezuela purportedly launched Petro — the world’s first state-issued cryptocurrency — purportedly backed by the country’s oil reserves. The problem is, the oil allegedly backing each token has yet to

    · February 22, 2018 · 8:30 am
  • Iran Turns to Bitcoin in Preparation for Renewed U.S. Sanctions Altcoin News, Bitcoin, Bitcoin Acceptance, News, News teaser

    Iran Changes Mind, Decides it Doesn’t Actually Like Bitcoin After All

    In October 2017, the Iranian government all but decided to implement Bitcoin as a means to completely bypass sanctions, while also allowing citizens to conduct international trades otherwise not possible. Now, however, the Islamic Republic on the Persian coast has changed its mind. A Foolish Inconsistency According to the independent Iranian news site Iran Front Page (via Fortune), the Republic’s central bank claims it never recognized, nor planned on recognizing, Bitcoin as an official currency.

    · February 22, 2018 · 2:00 am
  • 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