WHAT THE FUCK. THIS FUCKING COIN IS BACKED BY THE FUCKING GOVERNMENT OF FUCKING VENEZUELA...

Reasons not to buy:

... Venezuela has a long history of defaulting on their debt.
... Buying this coin would be a violation of US and EU law
... The coin is the idea of their president, but their parliament has already said they won't support it after he is gone.
... if the coin is based on the price of a barrel of oil, it won't go 100000x because the price of oil won't go 1000000x
... They are sitting on an ocean of oil, but their gas stations are empty. They don't know how to manage their resources.
... because it has exit scam written all over it.

Reasons to buy....
... Because you believe pigs can fly.

I don't live in the US, lmao.

I too am interested in this. But i don't get how it will work? I mean, the price is sat on the exchanges... So what do they mean by it being backed by oil?

Can venezuelans come and get a barell oil for every petro or something? Can foreigners do the same? Anyone know. No shill. No politics please.

Commies don't get crypto. This will be a big fail for that reason alone. This will go the way of the Che Guevara coin, as it should.

apparently Venezuela oil is some of the lowest quality in the world....

It's a twisted commie version of a commodity futures contract.

now i am interest in this coin!

Fuck tether, I want this!

/thread

Where can I redeem 1 shitskin commie coin for a barrel of oil?

Nice, I'm buying it 100%. Tnx.

>All the cucks doing mental gymnastics kek
Just tell where to buy the fucking thing.

If you're a US resident and purchase this coin, prepare to have your life royally fucked by every federal agency imaginable.

>how is this coin not guaranteed to go 1000000x

It is pegged to the oil barrel price. It says the white paper you posted. Even funnier, the government will take your petro at a discount, which means it will be devaluated everytime you exchange it.

It won't moon, it can only cause loses to anyone who invest it, unless you think oil is the future and also the price will rise.

Besides, Venezuela oil production is declining way to fast. This shit is like buying gold contracts to a company that refuses to produce gold and instead it produces poo

Where can i buy this shit¡?

cryptopia

In the caribbean coast of Venezuela, ports located near the US, a friendly neighbor who won't never put a maritime blockade to prevent shipments to your doorstep.

That's implying you can even redeem the oil. You won't redeem anything.

>doesn't know he could already have doubled his money

This one might be a winner folks. Even my mom was thinking of buying this "to support venezuela". There's a lot of old-left money wanting in and it's been a headliner all around the world so even old boomer fucks have heard about it.

Actually looking at the chart now you could have 20xd your money...

because venezuela is proven to be untrustworthy AND imcompetent. They're literally incapable of extracting the oil because they don't have enough people with skills stupid enough to stay in that hellscape

You have to go below the 10th place on coinmarketcap by price to get a coin over 60$ though which was a barrel of venezuelan oil last i checked.

Even if the oil goes to 50$ that's still insane profit we're talking about because its currently trading for $0.049241 usd.

As long as you have these things that are supposed to be pegged to real-world things value will rise. Just look at DGD which is trading at more double its supposed value in gold lol.

im not buying this pre-mine centralized piece of shit scam coin id rather buy doge

Will oil double its price? Of course, not. Petro is pegged to oil price, read the white paper. Petro won't moon, you fucking retard

If you want to support a venezuelan, support me and send me some money to buy food

bitcoin 1MH8gH3RQdYAMxaod7TPJjuBmfE8Ag2ELq

Headlines will be followed by stories about the country is ruined and also experts warning about this scam. Even ISIS had headlines, people invested on it?

literally only country that managed to fuck its economy up so badly money is unusable desu, but yes, of course crypto will be different

What fucking chart? There isn't a chart because it hasn't been launched to the public

Nobody is trading Petro, it hasn't been released to the public.

BECAUSE MADURO IS A GRANDE BURRRROO

ESTE MIERDA!

Dont buy this shit son!

This is history right here, kids in 100 years time will be learning about the blockchain in school/lectures and how Venezuela was the first country to adopt crypto.
This is not about making a quick flip but owning a part of history.

Maduro will be laughing his way to the treasury as he keeps his failing government solvent with gringo dollars

coinmarketcap.com/currencies/petrodollar/

KEK, poor people who invested in that scam, literally lost money, because that isn't the one the venezuelan government is issuing

>things that are supposed to be pegged to real-world things value will rise.

Tether is pegged to a real-world thing and it hasn't increased its value.
DGD isn't pegged to a real thing. You can only claim rewards based on the total DGX collected through transaction fees
DGX is the one pegged to a real-world thing and it hasn't been released yet.

It's one of the few coins on coinmarketcap green... everything else is red. and it's up 64%.....

Thats why i said "supposed". What are you, daft?

You are using the internet and hanging out on Veeky Forums. Go propagandize somewhere else rich kid.

>elpetro.gob.ve/Whitepaper_Petro_en.pdf

reads more like a sales pitch than a whitepaper

Venezuela defaulted on its shit, the country is heading straight to a famine and the legislative body didn't approve this currency, only the president (dictator).

See , it will just be the first government exit scam in history.

>literally lost money
As if there'd be a difference from the real thing.

This has to be one of the shittiest looking websites i've ever seen. This is bazingacoin level shit.

A government backed coin couldnt make something better than this?

It's the same as buying from a pajeet off amazon. Always check if it's a pajeet first

>You are using the internet and hanging out on Veeky Forums.
>rich kid

So that's why you've been saying retarded shit like . You're just a retarded commie stuck in the 80s when having internet in South America was a privilege reserved for rich people.

take away all the nonsense and buzzwords about being "backed by the government" and "oil" (total bullshit), and you see it for what it really is, a shitcoin.

Venezuela has the same cred as Nigeria. the coin is a poor attempt to bypass international sanctions

That "PetroDollar" isn't what the token launched by the government, you dumb

You see PetroDollar was launched in 2014. The Venezuelan government token hasn't been launched yet.

It still is for venezuela, colombia, bolivia, and such shitholes though.
That's why they are mass migrating to the southern cone.

Well, yeah, you are right. Both who invest in Petro and PetroDollar are losing their money.

lol. that is factually wrong. just look at the chart... jebus crust.

Internet, electricity, gas, water, etc. are heavily subsidized in Venezuela. Ask any Venezuelan how much they pay monthly for those and they'll tell you they don't know because those services cost jack shit.

And how many would trade all this for food in the grocery stores and gas stations that actually have gas?

what's it really like living in Venezuela? Is it still as bad as they say?

by petrodollar do you mean the US dollar? Cuz yes anyone holding US dollars loses money by the second.

Define "all this"

I'm talking about the gas that goes to your stove, oil for vehicles is subsidized but it's somewhat scarce nowadays.

Read the thread dumbass.

>Government that can't even run their own fiat
>Putting money into a place where one U.S. financial institution could completely fuck with them
>26 dollars per coin

Wew lads.

yes but at least the women are very hot and now very thin. lol
i read it bro. It was just silly shitpost. Come on.

PetroDollar is this coin

coinmarketcap.com/currencies/petrodollar/

People is buying that shitcoin because they believe is the one issued by the venezuelan government.

The token issued by the venezuelan government hasn't been released to the public yet.

It is probably worst than you have heard.

But if you want a more specific answer, please ask a more specific question. I'll be pleased to answer

It instills a lot of confidence when you see that the petrodollar dot org website starts with a spam ad.

how hard is it to get food? What is your economic level compared to others there? How has the situation in your life changed over the last few years?

PUTA MADRE

Buy - flip - bounce