Venezuelan customers from the biggest satellite TV provider in the country are now able to pay their monthly bills via cryptocurrencies. Simple TV announced it had enabled the feature to its over four million users, whose company was the replacement of Directv. Company Expects to Cut Dependency on Fiat Dollar According to the announcement, the […]
For the second time in a little over a month, Venezuela’s president Nicolas Maduro has hiked up the value of the national cryptocurrency, the petro, this time to 36,000 sovereign bolivars. The move has again been met with criticism. Also read: Russia Not Ready for the Petro, Proposes Plan to Aid Venezuela Without It ‘A New Monetary System’ […]
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The number of online retailers accepting bitcoin cash (BCH) has swelled to more than 945 stores in the last few months. According to Marco Coino, which provides a directory of merchants that accept payments in BCH, more than 670 bricks and mortar retailers also now handle transactions in the cryptocurrency. In October, that figure stood […]
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Venezuelan President Nicolas Maduro’s move to increase the price of the petro, the country’s oil-backed cryptocurrency, has sparked intense debate. Experts and tech-savvy Venezuelans alike are less than enthusiastic about the decision. Also read: Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double Venezuelans Unimpressed by Proclamation Venezuelans blasted Maduro and his new cryptocurrency after […]
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Venezuela’s controversial national cryptocurrency, the petro, is slowly permeating the everyday lives of its citizens. The currency, each unit of which is supposedly backed by a barrel of oil, has begun appearing on screens when Venezuelan customers log in to their bank accounts. The move marks the latest attempt by President Nicolás Maduro’s government to […]
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Venezuelan authorities have found another way to impose the adoption of the state-issued cryptocurrency, the petro. Citizens will soon have to pay with the government-controlled digital coin if they want to obtain a travel document. Hundreds of Venezuelans are leaving the crisis-hit country every day. Also read: New Stablecoins: From Cryptopound and Metal-Backed Swiss Coin […]
The post Venezuela Demands Citizens Pay for Passports With Petro appeared first on Bitcoin News.
Washington and legacy media are in a tizzy about Venezuela reportedly thwarting international sanctions by way of a dreaded state-backed cryptocurrency. A closer look reveals several stumbling blocks for the Bolivarian Republic: nonexistent reserves, hyperinflation, centralization, and the impossibility of actual redemption. The attempt will fail, if it’s ever rolled out, adding woes to a region […]
The post Why Venezuela’s New National Cryptocurrency El Petro Will Fail appeared first on Bitcoin News.