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”

Currency Crisis: These Countries could find Solution with Cryptocurrency

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Currency crises have gripped a good part of the world. And as that happens, we believe cryptocurrency could take center stage For example, Argentina’s peso is down more than 50% versus the dollar. It’s part of the reason it sought help from the International Monetary Fund. In addition, Turkey has attracted plenty of attention amid weakness … Continue reading “Currency Crisis: These Countries could find Solution with Cryptocurrency”

Emerging Markets: Fear Driving Interest in Cryptocurrency

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Emerging markets have been beaten up in recent months. All thanks to a mix of political instability, a strong U.S. dollar, and trade war fears. Argentina’s peso, Turkey’s lira, and Indonesia’s rupiah have all hit new lows.  And as they have, interest in cryptocurrencies have flourished. Venezuela Crisis Many are turning to cryptocurrencies as a … Continue reading “Emerging Markets: Fear Driving Interest in Cryptocurrency”

Currency Crisis are Driving Nations to Cryptocurrency

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Fears of currency crisis contagion are spreading fast. Venezuela, Turkey, Iran and Zimbabwe are all facing economic crises.  Inflation has been crippling.  As a result, many are turning to cryptocurrencies for value, and as a means of exchange.  It’s only increasing the likelihood of further global adoption. Venezuela Currency Crises Venezuela, for example, has been … Continue reading “Currency Crisis are Driving Nations to Cryptocurrency”

Crippled Argentina Economy only Accelerating Bitcoin Adoption

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We’re seeing it happen in far too many places. Argentina is just the tip of the iceberg. Financial crises are destroying economies Argentina for example is struggling, as investors fear Latin America’s third-largest economy will default on debt. The news comes not long after Argentina’s government requested a $50 billion loan from the International Monetary … Continue reading “Crippled Argentina Economy only Accelerating Bitcoin Adoption”

Why Latin America’s Interest in Cryptocurrencies is on the Rise

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Latin America is quickly turning to cryptocurrencies for stability. In Venezuela for example, hyper-inflationary issues have crippled the economy.  As a result, the Dash coin has become popular.  In fact, now more than 200 merchants accept it, including Subway and even Calvin Klein. The region is even seeing thousands of wallets downloads every month. “We … Continue reading “Why Latin America’s Interest in Cryptocurrencies is on the Rise”

Venezuela Ties Fiat Currency to Oil Backed Cryptocurrency

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Venezuela is a tragic story of the wealthiest nation in South America becoming impoverished through unfortunate choices. The president revealed he will begin a different economic reform program. This will see the bolivar currency pegged to the country’s first petro cryptocurrency. This will not be a pain free transition though. President Nicolas Maduro argued this … Continue reading “Venezuela Ties Fiat Currency to Oil Backed Cryptocurrency”