Venezuelan President Maduro Asks Everyone to Invest in His Oil-Backed Crypto! – Right or Wrong?

see this is intriguing to me this is very interesting to me in multiple ways because the last time I did a crypto news bit on decentralized TV about this particular article in this particular topic I got a lot of feedback from a lot of different individuals that actually live over there and told me that I was in the wrong so I want to go over this and I'd love for you guys to give me feedback in the comments section below and the Bitcoin dot pub let me know man guys I really want to know I want to know whether this is even what the what the real political agenda is if we can get that far or even help us understand kind of the political context over there who should we be supporting what's up crypto nation I have no idea I'm not over in Venezuela so I just don't know guys so welcome to the decentralized TV your best place for news on Bitcoin blockchain and cryptocurrency tech I read all your guys comments I read everything I like heart everything everything that happens in the Bitcoin dot pub I read everything and so when you guys give me feedback I do read it and interestingly enough let's get into this one a little bit more Venezuelan president Maduro calls for 10 countries to embrace his oil backed coin there are some contentiousness in the comments section and the Bitcoin pump around this so let's get back into it let's dig up some dirt guys Venezuelan president Nicolas Maduro has asked to all 10 countries of the Bolivarian Alliance for the peoples of America a LBA to work together on the creation of the petro his proposed oil back cryptocurrency according to local sources during the meeting of the alb a on January 12th Maduro had announced quote I put it on the table brother governments of the alb a the proposal of the cryptocurrency of the petrol so that we can take it on as one of the projects of integration of the 21st century in a bold way but also in the manner of a creator and a creative Maduro declared his intention to create the petrol in early december and on january 6 he ordered the issuance of the first one million petros each backed by one barrel of oil the president has already set aside five million barrels of Venezuelan oil in preparation with the currency set to launch in six weeks in the form of an auction as it will be free mind I also got a lot of feedback asking how they can get in on this I don't have any idea guys if you can get in on this but you guys know if there's an opportunity to get in on it I'll let the pub know first however on January 9th the Venezuelan Parliament declared that the petrol is an illegal currency the parliament has stood in opposition to president Maduro since his Socialist Party lost its majority in 2016 and has been vocal against what they see as a fraudulent currency Parliament deputy Williams davia said according to newspaper El Universal the that the petros creations only serves to evade financial sanctions and is openly violating the Constitution and legitimizing illicit transactions Venezuela a country facing both hyperinflation and e EU and US sanctions has been seen a massive amount of Bitcoin use among its population go figure guys when your dollars or rather your fiat currency goes up in flames what better place to put it then in the crypto where no government can get it which is choosing to use the digital currency over the failing government-issued Bulevar some see the high volume in Bitcoin used in Venezuela as they start to one of the first Bitcoin ization of a sovereign state while the upcoming launch of the petrol is uncertain due to its tenuous political context the idea of using cryptocurrency for oil trading us come up before in 2016 when the strained relationship between the US and Saudi Arabia cause Allah over oil market stability so I'm going to throw this right back to you guys I obviously do not know the deeper nuances of the political State of Venezuela and so for those out there who commented on my previous DC TV news clip on Venezuela and the petro coin you guys gave me a mouthful so I want to know is this guy the right guy to be doing this type of cryptocurrency is Venezuelan president duro is he on the good side or the bad side I don't know all I know and I'm speaking from ignorance here guys is that I like it when new cryptocurrencies pop up it's innovation its opportunity its mark it's free market capitalism but some people would argue with me and say well government's making coins isn't really free market capitalism but understand the point at the meta more coins being created Hey that means crypto is gonna be around for a lot longer so I want to throw this right back to you guys let me know in the Bitcoin dot pub or in the comment section below where I'm what I'm missing is president Maduro the wrong person to be creating this is he creating a socialist state that is no good no bueno for the world I don't know guys let me know in the comments section thanks for joining us in today's crypto news MIT brought to you by decentralized TV your best place for news on Bitcoin blockchain and cryptocurrency tech if you're new here guys make sure that you join the crypto nation by subscribing and smashing the bail button and also checking out 10 days of Bitcoin calm a free educational resource straight to your email box for the rest of you guys smash the mini Hulk yes that's right the mini mini Hulk

39 thoughts on “Venezuelan President Maduro Asks Everyone to Invest in His Oil-Backed Crypto! – Right or Wrong?”

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  2. Thanks for doing this. Love the programming but when you showed support for these murderous criminals it was very saddening. This is nothing more than an attempt to steal the future resources that belong to the people
    Of Venezuela and use them to further enslave them

  3. But before prez Maduro asked the nations to invest he stated " I am not a financial advisor, this is just my opinion" lol…squash the corruption and foreign money launderers Maduro

  4. To paraphrase Thatcher " The problem w socialism is eventually you run out of other people's money." If they can confiscate actual petroleum drilling companies , business and wealth. They can steal your money anytime they choose.

  5. I'm in the oil industry and this is huge if he is on the up and up
    I will try to buy in and see what happens. ..

  6. Calling it now this shit is going to andromeda! If people are such degenerates to invest on Ripple, how much more in a government back coin?

  7. Don't buy petrol it's only supporting the oppressive government their ban it spread the word no to Petro Venezuela is only using that for the government's benefit not for the people

  8. Petro is real bro!.. Maduro… the fucking have everything ready, this year will be crazy yoooo…. and Maduro is not the indicated one but it is pure advertising of the technology : D

  9. Lol. Government can't get cryptocurrency? They could easily buy up huge amounts of it and totally destabilize it.

  10. Anything Maduro is bad. Look Peter I'm in Aruba, my ex girl wad venezulan, and when peopel have to EMPTY their bank accounts to buy a loaf of bread, its bad. And Maduro is ONLY going to make it worse with his own little play on crypto. Be warned, and stay away from that petro.

  11. This is Huge! A crypto currency for oil ๐Ÿ˜ฑ
    This would definitely be the most valuable crypto if allowed to go thru๐Ÿค”
    Thanks for the video and as always
    Salute bro ๐Ÿ‘Š๐Ÿฝ

  12. Wow, this sounds great. Now all Venezuelans should put some of their money in bitcoin and make sure to hide their private keys very well…Also, it might serve to entice those corrupt countries to enter the crypto space with their own currencies, which would be good for further legitimizing the space and bringing countries into the fold, but also serve as a good lesson for buyer beware.

  13. Sorry Venezuela, you don't get to debase your own currency, blame the US for it, and then try to steal wealth by building a shit-coin. Nice try though, decentralization is antithetical to commies, however.

    The blockade is in place for a reason. No company can possibly perform in your kleptocracy, and your ridiculous price controls, and out of control money printing doesn't really solidify the perceived value of a cryptocurrency that would DIRECTLY help a dictatorship.

    Focus on feeding your people instead of trying to steal the world's money on Binance.

  14. Thanks for reading our comments. Can you do a video on :
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    6. Decentralized exchange role in censorship resistance.
    7. Mining vs. Trading.
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  15. The Petro isnโ€™t backed by oil, gold OR diamonds, itโ€™s backed by a Marxist regime that has CENTRALIZED its country into financial oblivion.

    Like every good Socialist regime, they work perfectly well until they run out of everybody elseโ€™s money.

    Theyโ€™re too broke to pump the oil and back the currency with anything more than wishes.

  16. Can you please do a review on the ICO Cryptaur? ๐Ÿ™๐Ÿป I have some doubt on it and would like to hear also your opinion. Thanks

  17. Right Tech, wrong guy. Of his plan succeeds, he will make himself CEO of Venezuela currency which will give him Way too much power.

  18. Maduro is a malevolent dictator. He is NOT to be trusted. This is a money-grab. The issue of whether to trust Maduro is black-or-white. You trust him and you will be betrayed.

  19. It's AMAZING to me that you are making a vid about this MAJOR SCUM BAG MADURO, come on bro, Just LOOK AT WHAT HIS DOING TO HIS OWN COUNTRY. They DO NOT HAVE ANYTHING TO BUY ANYWAY, MUCH LESS WITH A CRYPTO, Wake Up Man.

  20. I don't know much except from what I heard from my social science teacher.
    Venezuela is country in which the government (president) has seized all oilproduction + other productions… They are just taking it and calling it theirs. By seizing all productions they force farmers to sell to the government, but the state will only pay very little for the food, so everyone stopped farming… Now they're fucked. And investors don't want their money in venezuela when there is a chance that the state will just take their investments.

  21. You can't simply trust something if it comes from that guy, I am from over there and everything is completely bullshit and scam.

  22. The Petro will ONLY be right if they use public blockchain to show transparency & the new decentralized, immutable & permisionless new economy which I really doubt according to all statistics regarding latin american political history. Usually they do all this centralized to be able to apply their best practices which are bride, corruption & this issues that have wounded our nations. I'm ecuadorian and can tell you that all that political generations are really fucked up, they are still fighting like school kids in issues that don't really matter instead of discussing the real shit like public blockchain & open source fin tech to give our people a better life. You wouldn't believe what we have to deal with living in this nations, to much oldschool thinking & tons of tons of lack of innovation & forward thinking culture. Since the beginning of colonization our nations have been beating up by govs of treason, corruption, brides and all that shit, I believe all this is just for "govs businesses" to remain in power to control people. I really hope I'm totally wrong about this and that we might have a light at the end of the tunnel, I believe in blockchain & crypto 100%, and that's why I know we have hope this time, but it must be done DECENTRALIZED, OPEN SOURCE, TRANSPARENT, IMMUTABLE & PERMISIONLESS to really do the quantum leap to the future of this beautiful sharing p2p technology! May the crypto force be with all of us, always! To the moon!

  23. Definitely not, this country is too unstable, sooner or later there will be a civil war. Maduro is going to lose power and then will be a lost investment too. but that's just my opinion.

  24. Maduro is a desperate despot looking for a way to continue the socialist failure he helped create. Socialists are always looking for a way to scam other peopleโ€™s money.

  25. I am a Venezuelan, this is a narco state, terrorist and highly corrupted country. I am pro Crypto 100%. This is not a reliable country.

  26. WRONG! He'll probably pre-mine 90%. I hope they get rid of this dictator who destroyed so many Venezuelan families and upcoming generations. They are in default of their oil-backed bonds and now they want to offer oil-back cryptocurrency? What a joke. Bless the anti-maduro Venezuelan people.

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