11 thoughts on “Venezuela launches petro cryptocurrency | Money Talks”

  1. This guy says that every Venezuelan will start using the petro cryptocurrency! This is what happens when you live too long in digital crypto-currency fantasy land, you become very ignorant of the real economy! The average Venezuelan today Earns about 4 U.S dollars a month. Most Venezuelans cannot even afford to own a smart phone as a basic tool to trade in petro cryptocurrency! Even worse the infrastructure is not in place across Venezuela for small scale traders to exchange the Petro! The Maduro government has shown it cannot be trusted with the Bolivar Currency(fiat), how should the people in Venezuela and across the world trust this regime with the Petro! I suspect the petro is a tool for Maduro and his sanctioned politicians to launder there assets away from Venezuela to safe havens in the far east or more friendly regimes like Cuba.

  2. it will be worth more than the bolivar, simply because its backed by oil and transferable around the world without need of banks…its still risky because you have to trust the government to stand behind its promise of the oil backing but if they find a way to put this in escrow, where people are sure of the backing, they will have a skyrocketing crypto on their hand…

  3. He made a good point if your blocked from using your currency to pay bills and you cant sell your biggest commodity oil, and the oil price is going down obviously your economy will collapse…

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