Today I would like to talk to you about a very personal and sensitive topic for many people including me. I, like millions of others, live and suffer the Venezuelan tragedy. It has been already 20 years since this endless nightmare began where many have died from disease, hunger, violence and the tyrannical boot of the emperor who governs in Caracas. On the blood of those compatriots today the dictator wants to wash his face in front of the world with a business proposal that shines like gold but in reality they are just mirrors pretending to be gold.
In view of the fact that the dictator and his henchmen have found themselves without money to continue leading their lives of excess, due to the great drop in oil prices, because more than one billion dollars have been stolen, leaving the country in bankruptcy, in addition to the sanctions from USA and Europe to do their illicit business, have come with the idea of entering the world of cryptocurrencies in order to continue in their selfish life as kings, masters and Lords and continue murdering the people of Venezuela. Emperor NicolASS presents to the world the Petro.
Actually, the last two things of that question define accurately what the Petro really is. Many people around the world have heard of Petro and are interested as an opportunity to make profit and earn good money as it has happened with many good projects that are in the market now.
The first thing I want to say is that Petro is NOT a cryptocurrency, it simply does not meet the requirements to be a cryptocurrency. As we all know some of the characteristics of cryptocurrencies are:
- Decentralized.
- Autonomous.
- Cryptocurrencies have a blockchain that records all the transactions.
- They are registered in exchange markets with a value that fluctuates depending on supply and demand.
- They must have certified wallets for their shelter.
- They must be exchangeable with other cryptocurrencies.
The Petro, on the other hand, does not meet any of these requirements because:
- It is not decentralized because the government controls all the tokens, in fact, to buy them you have to participate in Auctions where they decide who can have it and how much it can be purchased.
- It is not autonomous, it is totally controlled at the will of tyranny.
- To this day it does not have an established blockchain, therefore it simply does not exist.
- Until today, there is no any respectable exchange in the world that has accepted it as legit currency, there are only a few and all these exchanges inside Venezuela, nowhere else. Obviously, Petro is not listed in Coin Market Cap.
- The dictatorship in Venezuela says that the value of Petro will be determined by the price of oil but the truth is that, right now, the government simply decided that the value of the petro will be USD 60 until they decide that it has another value.
- There are no wallets to store the tokens and the only places where they can be stored will be on websites managed by the government.
Among other things I must say that to this day, no one knows for sure about which algorithm Petro is built in, in its first Whitepaper it said that it was built on the SHA-256 algorithm as if it were Bitcoin. Then in a second version of the WP, now I read it was going to be an ERC20 token, and now it says it will be based on NEM. A complete without nonsense.
In the Cryptoverse we have seen many scams, last year were lending platforms and people lost a lot of money. In this case, this is much worse because not only do they risk losing their money invested but they will be doing what they want, get oxygen so as not to fall from power.
There are several reasons why Petro really exists:
- The Venezuelan government is surrounded by sanctions from the USA and Europe and companies in these regions are prohibited from doing business with the dictator. If the companies accepted the Petro, NicolASS would manage to circumvent the sanctions.
- One of the sources with which the dictatorship is sustained is through drug trafficking and illicit activities. The use of Petro would allow them to launder money and then convert them into dollars to take them to tax havens.
- They manage to have more money to buy more weapons and to oppress the population to continue to stain the streets of Venezuela with blood.
If the people in the world buy and trade the Petro not only exposes himself to losing his money but also supports a system that subjects a people that does not deserve so much suffering, a town of 30 million inhabitants kidnapped by 100 people who live better than the royalty of some monarchical countries.
This post represents my opinion but as someone who lives and suffers every day this endless nightmare, today I ask you not to support this project without feet or heads. Do you think that bitconnect and other platforms have been the worst crypto scams? Well ... This is much worse, as far as I know bitconnect has not killed anyone, this government has done it.