Tag: Venezuela

  • Crypto

    Venezuela Coaxes India to Pay For Crude Oil With Petro Cryptocurrency

    Venezuela’s Petro cryptocurrency has been off to an interesting start. Despite clear opposition from various countries, the Venezuelan governments want to improve the widespread use of this currency. As such, the government is now looking at India to purchase crude oil from Venezuela at a 30% discount. This...

    JP Buntinx | April 30, 2018 | 1:44 pm
  • Bitcoin

    Inflation at 8900% Turns Venezuelans to Bitcoin In Record Volumes

    Venezuela, the most hardline socialist country in the American continent, is in a steep crisis in recent years ever since oil prices fell below the $100 area in 2014 down to a third of the price in early 2016. The people are turning to Bitcoin as spiraling inflation destroys...

    Ricardo Esteves | April 20, 2018 | 11:39 am
  • Crypto

    Russia In Talks With Venezuela to Use ‘El Petro’

    Petro, the cryptocurrency launched by the government of Venezuela in February 2018, is being considered by Russia as a means of international transactions, according to the Venezuelan Foreign Ministry. Venezuelan-backed Cryptocurrency Could Be Used By Russia A Russian-Venezuelan high-level intergovernmental meeting taking place in Caracas is discussing a number...

    Ricardo Esteves | April 4, 2018 | 1:33 am
  • Crypto

    Bitfinex Refuses to List Venezuelan Petro Digital Currency

    One of the world’s largest cryptocurrency exchanges has issued a statement regarding the recently launched “El Petro” (PTR) – a digital currency supposedly backed by Venezuela’s crude oil reserves. Bitfinex are refusing to list the planet’s first ever state-issued cryptocurrency. The Petro Offers “Limited Utility” The reasons cited in...

    Rick D. | March 27, 2018 | 7:50 pm
  • Bitcoin

    Demand For Bitcoin in Venezuela Still Surging Amidst Economic Turmoil

    Venezuela has always been a peculiar country when it comes to cryptocurrency. The locals have shown a big interest in Bitcoin and other cryptocurrencies over the years. It seems that demand will only continue to grow. This is despite the country having its own national cryptocurrency, known as...

    JP Buntinx | March 27, 2018 | 11:00 am
  • Bitcoin

    National Digital Currencies Are Not Cryptocurrencies: Peter Todd at Genesis London

    Over the past few months, several countries including Iran, Venezuela, and China have either announced their plans to launch national cryptocurrencies or already conducted initial coin offerings (ICOs) to introduce a state-backed digital currency. In late February, Venezuelan president Nicolas Maduro claimed that Petro, the oil-backed cryptocurrency operated...

    Joseph Young | March 16, 2018 | 5:22 pm

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