what do you think about Petro? I understand your plight. the whole world needs to fear hyperinflation
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what do you think about Petro? I understand your plight. the whole world needs to fear hyperinflation
PETRO isn't a cryptocurrency, is an illegal issuance of public debt, not approved by the venezuelan parliament. It will allow the corrupt Narco-tyrants to conduct money laundering and lead naive investors into an uncertain promise that someday, somehow the venezuelan government will honor their commitments.
If you read the Petro white paper, you will find that not only is it poorly translated, but it also has major inconsistencies in what to an ICO is. The website is faulty, the way you conduct business with those guys is shady and
Buying petro requires you to sign a contract that is between a buyer and the Cryptoasset Superintendency of Venezuela. As a trader you shouldn't be signing contracts with Venezuela’s Central Bank, which, according to the Venezuelan Constitution, “necessarily and exclusively exercises the national monetary competence".
Also, the fine print also requires the buyer to assume all obligations, while the Crytptoasset Superintendency assumes none – signing is no PTR guarantee. The same contract states the venezuelan government's intention to personally identify you. So having your privacy put in hands of the same yokels that like to trade uranium, arms, and drugs with terrorists worldwide would put you in a very uncomfortable spot.
Many traders like to keep it anonymous and buying PTR reveals your identity, making yourself open to extortion.
The fourth section of the agreement is particularly full of bad intentions: for it requires the buyer to commit, irrevocably, to acquire petros without any information on the mechanism by which the price will be determined.
It’s a formal and binding offer to buy petros using dollars or euros, and the Superintendency reserves the right to change the unit price of the Petro.
No clause in the contract mentions the heavily-advertised claim that each petro will be worth “the international price of an oil barrel with discount.”
So to keep things short. Stay away from Petro. DONT TOUCH IT even with a ten-foot pole.
Agree 100% 👍🏼
If you traded the Petro with someone else in the usual way how does any of that contract stuff matter?
When asked why a cryptocurrency has value, the answer is "usage!". Currencies hold value when people use them and rely on them. When you use Petro, you give it value. When you give it value, you're enriching Venezuela's corrupt government, their corrupt friends and their drug cartels.
It sounds extreme, but it's only logical.
Was hopping UET had some value as a prank, joke, novelty coin. It started out being $.25 for a short time then dropped to $.10 where I bought and went back to $.17. Then down from there. I didn't sell because I thought it would take off like the pet rock years ago.
Lol, I did this with Strong Hands and made a nice profit out of the meme. Everyone thought it was ridiculous, but they kept buying.
You just described so many of my poor trading decisions
None of that is relevant to what I asked though?
I know, I'm just stating why you should not trade with it regardless of how economically worth it it is for you.
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Get lost, spammer.
I just read today Trump banning U.S. investors from PTR. If so then he knows it a scam.
This is what I think of Pedro:
