Does the petro have users?
Yes, the Venezuelan citizens at least, since the Bolivar (local currency) entered a hyperinflation well and the current political situation makes the bolivar unrecoverable practically already dead. If it were to work, the petro could become the legal currency in Venezuela ... imagine that ... the first country in the world whose main currency is a crypto ...
how the value of the petro is calculated?
source: white papper petro
The most important contribution of Petro to the cryptoactive market and the new digital economy is the support offered by a sovereign State.
The Bolivarian Republic of Venezuela guarantees that it accepts Petro as a form of payment of taxes, fees, contributions and national public services, taking as reference the price of the Venezuelan basket barrel of the previous day with a percentage discount equal to Dv.
In this way it is guaranteed that the buyer always has a recovery value adjusted to his investment.
These payments are accepted in bolivars at the exchange rate resulting from the operations of authorized exchange houses, determined by market mechanisms and in accordance with the legal provisions issued by the authorities.
Where the Petro / Bolívar rate is determined through an average weighted by the volume of operations of all the exchange houses authorized by the Venezuelan government.
Additionally, the Venezuelan government is committed to promoting the use of oil in the domestic market and making efforts to encourage its acceptance throughout the world.
The petro is good investment ?
It depends ... Taking into account that the government of Venezuela is the one that controls the price of this crypto, it will logically increase easily. and according to the government said the minimum price will be 1 barrel of oil ... which is quite stable ... if we compare it with an average cryptocurrency ...
but returning to the subject the most logical thing is that the price points up, the problem would be that people are not willing to invest in petro ... that would be the only risk of the currency. Remember that there are already trade bans by the United States towards the petro.
Another important point is that in the first sales the petroleum will be sold with discount is calculated 30% as a minimum cheaper than the barrel of oil,
in the sale of the next week will be sold with 20% and so until everything is sold. Basically I think it would be a great opportunity out of risk if you buy only pre-sale. the sale will be made through the exchange mechanism "dicom" https://www.dicom.gob.ve/.
Source : White Papper Petro.
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