Tag: Venezuela

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Venezuelans to Be Paid at Least Half a Petro a Month

Venezuelans to Be Paid at Least Half a Petro a MonthAnnouncing a 60-fold increase of the minimum monthly salary, President Maduro promised Venezuelans they will be paid at least 0.5 petro, once his monetary reforms are in place next week. The national crypto will be exchanged at a rate of $60 USD and the new “sovereign bolivar” will be pegged to the digital coin.    […]

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August 19, 2018 0

Venezuela to Use the Petro to Buy Auto Parts from Russia

Venezuela Will Use the Petro to Buy Auto Parts from RussiaVenezuelan government intends to purchase Russian auto parts with its state-issued cryptocurrency. Ministers from both countries have discussed the use of the petro in bilateral transactions during a high-level meeting in Caracas. Possible Russian crypto investments are also on the agenda. Also read: Venezuelans to Buy Homes and Property with State Cryptocurrency Caracas to Build […]

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April 4, 2018 0

Venezuela Orders Government Services to Accept Any Cryptocurrency

Venezuela Orders Government Services to Accept Any CryptocurrencyVenezuela’s president Nicolas Maduro has ordered the country’s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation’s own petro. In addition, he has announced the launch of another cryptocurrency, this time backed with gold. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Maduro’s Orders […]

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February 22, 2018 0

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Has Raised $735 Million

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Now AvailableVenezuela has announced that the pre-sale of its oil-backed cryptocurrency, the petro, has attracted $735 million on the first day. The government has also published a buyer’s manual and confirmed that buyers can use “hard currencies and cryptocurrencies, but not bolivars.” Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Petro Pre-Sale Starts The private […]

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February 21, 2018 0

Why Venezuela’s New National Cryptocurrency El Petro Will Fail

Why Venezuela’s New National Cryptocurrency El Petro Will FailWashington 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 […]

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January 28, 2018 0

Venezuela Urges 10 Other Countries to Adopt Its Oil-Backed Cryptocurrency

Venezuela Urges 10 Other Countries to Adopt Its Oil-Backed CryptocurrencyVenezuela’s president Nicolas Maduro has called for 10 other countries to adopt his planned oil-backed cryptocurrency, the petro. This move follows the country’s parliament declaring the issuance of this new currency illegal. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Maduro’s Proposal Maduro held a meeting of the […]

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January 14, 2018 0

Goldman Sachs Recognizes Bitcoin’s Future Potential

Goldman Sachs Recognizes Bitcoin's Future PotentialFirst, Jamie Dimon of JP Morgan Chase says he regrets calling bitcoin a fraud. Now, legacy bank Goldman Sachs is formally recognizing how cryptocurrencies such as bitcoin could act as global money. 2018 might be shaping up to be the year bitcoin gets more mainstream than ever. Also read: Huge Bitcoin Conference Stops Accepting Bitcoin […]

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January 11, 2018 0

Maduro Orders the Issue of 100M Petros, Venezuela’s Oil-Backed Cryptocurrency

Maduro Orders the Issue of 100M Petros, Venezuela’s Oil-Backed CryptocurrencyThe first issue of Venezuela’s national cryptocurrency has been ordered by President Nicolás Maduro. He has also called for the first national meeting of the petro’s miners where he will release the whitepaper for the new currency. Also read: Venezuela Unveils Mining, Trading, and Launch Details of National Cryptocurrency 100 Million Petros Incoming On Friday Venezuela’s […]

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January 6, 2018 0

Venezuela Seeks Miners for the Petro – Maduro Claims 860,811 Already Signed Up

Venezuela Seeks Miners for the Petro - Maduro Claims 860,811 Already Signed UpVenezuela is looking for miners for the country’s national cryptocurrency, the Petro. The government has opened up a registry for miners to sign up to mine and gain access to the new currency. According to Venezuela’s president Nicolás Maduro, 860,811 young people have already registered to create the Petro mining farms. Also read: Venezuela Unveils Mining, […]

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January 4, 2018 0

New Cryptocurrency Mining Bot Is Infesting Facebook Messenger

New Cryptocurrency Mining Bot Is Infesting Facebook MessengerCyber security researchers found a new type of malware spreading across the world via the Facebook Messenger app. This malicious bot is using the many computers it has infected to mine cryptocurrency for its unscrupulous developers at the expense of users. Also read: Starbucks Customer Has His Laptop Hijacked for Cryptocurrency Mining A couple of cyber […]

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December 25, 2017 0