Venezuelan Petro Cryptocurrency is a 'Scam', Say Local Merchants

Venezuelan Petro Cryptocurrency is a ‘Scam’, Say Local Merchants

Retail merchants in Venezuela are refusing to accept Petro payments as hyperinflation is causing massive devaluation upon liquidation of the crypto at the banks. Meanwhile, the...

Osato Avan-Nomayo | 12 months ago
In July, Bitcoinist reported on Venezuelan Nicolás Maduro's efforts to see the Petro become his avowed 'Great Hope.'

President Maduro Forces Airlines to Buy Fuel Using Petro Cryptocurrency

Venezuela’s president, Nicolas Maduro, recently announced that he plans to revive the country’s oil-backed cryptocurrency Petro, which failed to attract users...

Ali | 1 year ago
blockchain conference moscow
Press releases

1st national cryptocurrency’s creators perform at Blockchain Life 2019 in Moscow

October 16-17, Moscow: “El Petro — the 1st successful case of creating a national cryptocurrency” The global forum on blockchain, cryptocurrencies and mining welcomes more than...

Bitcoinist | 1 year ago
Bitcoin better than bolivar

Bitcoin a Better Bet Than Bolivars as Venezuelan Hyperinflation Escalates

Bitcoin can be many things depending on the situation. For many it is a store of value, for some, it is a trading vehicle, but for Venezuelans, BTC is the most reliable hedge against...

Martin Young | 2 years ago
Petro venezuela crypto

Venezuela and Russia May Switch to Ruble After Trying ‘Petro’ Cryptocurrency

Venezuela and Russia are in talks to switch over to the ruble for trade after trying the ‘El Petro’ cryptocurrency, a UN ambassador has revealed.   Venezuela and Russia...

Allen Scott | 2 years ago
venezuela petro

Venezuela President Urges Investors To Buy Petro As Citizens Prefer Bitcoin

The president of Venezuela has issued an open call for foreign investors to buy up the country’s notorious state-issued cryptocurrency, despite international sanctions. Maduro...

Esther Kim | 2 years ago

Bitcoin Trading Plummets in Venezuela Blackout as Government Struggles to Pay Money Printers

Bitcoin use in Venezuela took a hit this week after a persisting electricity blackout appeared to limit the ability of users to transact.  Bitcoin Trades Drop 40 Percent That was the...

Esther Kim | 2 years ago

Russia: Oil-Backed Cryptocurrency in ‘Final Stage of Development’

Russia’s State Duma is reportedly planning to review and adopt a cryptocurrency law to facilitate the creation of an oil-backed cryptocurrency. Russia to Adopt Cryptocurrency Law...

Georgi Georgiev | 2 years ago

Venezuela Bitcoin Trading Sets Giant All-Time High

Venezuela traded more bolivars for bitcoins than ever before last week. Volumes on P2P trading platform Localbitcoins reaching 15.7 billion VES ($10 million) amid increasing political...

Esther Kim | 2 years ago
Russia Venezuela Petro

Russia Says Venezuela’s Petro Acceptance ‘Not Happening’

Russia has not discounted the idea of using state-issued cryptocurrency Petro in commercial operations with Venezuela. Russia: No Petro Payments ‘Yet’ Those were the words...

Esther Kim | 2 years ago
In July, Bitcoinist reported on Venezuelan Nicolás Maduro's efforts to see the Petro become his avowed 'Great Hope.'

Venezuela Artificially Inflates Petro 150 Percent As Bitcoin Sets New Record

Venezuela saw yet another new record for Bitcoin use December 1 after another week of economic shake-ups made the cryptocurrency more appealing than ever. 1 Week, 1300 Bitcoins Data...

Esther Kim | 2 years ago
Max Keiser

Max Keiser Interview: Bitcoin Will ‘Gobble Up All Fiat’ and Rise Over $100K

Bitcoinist once again caught up with the one and only Max Keiser, Wall Street veteran and host of the Keiser Report. He explains why he isn’t fazed about the Bitcoin price drop...

Allen Scott | 2 years ago

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