Bitcoin (BTC) Volume at Record Highs on Venezuelan Crisis

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Just this week, Venezuelans traded 900 million bolivars’ ($12 million USD) worth of Bitcoin (BTC). This figure is up from the still massive 850 million last week. As most of us are aware, Venezuela is plagued with economic and social turmoil with an alarming inflation rate.  In fact, the International Money Fund estimates it will reach … Continue reading “Bitcoin (BTC) Volume at Record Highs on Venezuelan Crisis”

US Senators: Stronger Sanctions Needed on Venezuela’s Petro

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A bipartisan committee has formed in the U.S. Senate to attach stronger sanctions on the Venezuelan Petro (PTN). Senators want to pass a bill titled the Venezuela Humanitarian Relief, Reconstruction and Rule of Law Act of 2018.  If it goes through, it will stop all U.S. business with the currency.  It will also require a … Continue reading “US Senators: Stronger Sanctions Needed on Venezuela’s Petro”

Venezuela’s Petro Cryptocurrency May be a Copy of Dash

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Petro (PTR), the official oil-backed cryptocurrency of Venezuela appears to be an identical copy of the popular crypto Dash. In fact, it appears to have the same features and mining algorithm. Even its whitepaper appears to have replicated many sections from the Dash whitepaper. As a matter of fact, Joey Zhou, an Ethereum developer recently … Continue reading “Venezuela’s Petro Cryptocurrency May be a Copy of Dash”

Venezuela’s Controversial Petro on Sale in November

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To hear Venezuela’s President Nicolas Maduro tell it, the Petro coin will be a game-changer for his country. In fact, he just announced the coin would go on public sale this November 2018. A website was just created for it.  Even a wallet is available on Google Play.  And, according to Maduro, all oil purchases … Continue reading “Venezuela’s Controversial Petro on Sale in November”

Venezuela’s Cryptocurrency Petro Cracks and Creates Misery

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It has been under  a week since Venezuela’s Petro cryptocurrency seriously launched. The world’s first governmental digital asset is not off to a great start. The opposite is true for the natural resources-backed cryptocurrency of the Venezuelan government. Rather than stopping the downward spiral of the once wealthiest nation in South America, it has only … Continue reading “Venezuela’s Cryptocurrency Petro Cracks and Creates Misery”