https://d.tube/v/crypto-intel/8h6ehq2f
Petro Coin, U.S. Russia relations, and the possibility of a new swiss coin?
All this and more on todays episode of Crypto-Intel
With Venezuela still feeling the effects of hyper inflation
Take for example the price of
a cup of coffee which has risen from 5,500 dollars
in the local currency to 45,000 dollars over a span of just
12 weeks.
A last ditch effort to save the country was hashed out
by President Maduro's regime in collusion with Russia as a way
to raise finances and undermine the influence the U.S. government
holds with their sanctions.
Seeing this for what it is, President Trump has issued
an executive order to ban all transactions that occur within
the United States or from United States citizens After January
9th of this year in support of the Petro.
It has been Russia's goal for quite some time now
to undermine global influence of the U.S. dollar. Especially
after the U.S. imposed sanctions against Russia during
their ongoing occupation and conflict with the Ukraine
in eastern europe.
So what does this mean to the average investor?
Well, it's never good to get in the middle of
political battles. Especially as one as big and as polarizing
as the ones between the USA and Russia can be.
But, if you're an investor outside of the USA I think there
will be quite the momentum built up behind the success of this coin
now that Trump and through him the USA have taken a public stance
against it.
I would be wary as the Venezualian government and current regime are absolutely horrible
with their finances in the long term, but, I believe in the short term there will
be much success and hype
before ultimately fizzling out as Russia turns its attentions to other projects in
its on going power struggle with the west.
Turning our attention to Europe, a company out of Switzerland announced today that they
will be launching SwissRealCoin (SRC) which will be backed by various real estate
properties throughout Switzerland. Hoping to bypass the liquidity and volatility of
other publicly traded cryptocurrencies, SRC hopes to become a "stablecoin" that
investors can rely on.
Going off the phenomenon that more creates more in a hyper loop of positive reactions
and overall responsible tract record of swiss firms when it comes to handling finances.
SRC is shaping up to be a long term winner, especially as the project realizes its goal
of creating additonal currencies along the same concept of backing the token based on neighboring countries
real estate market.
Links to sources:
http://time.com/5206835/exclusive-russia-petro-venezuela-cryptocurrency/
https://www.cnbc.com/2018/03/19/trump-issues-action-blocking-us-citizens-from-trading-or-financing-venezuela-cryptocurrency.html
https://venturebeat.com/2018/03/20/swissrealcoin-promises-a-stable-cryptocurrency-backed-by-swiss-real-estate/
https://en.wikipedia.org/wiki/Petro_(cryptocurrency)
https://www.bloomberg.com/news/articles/2018-03-14/venezuela-s-hyperinflation-is-breaking-deli-scales
https://cointelegraph.com/news/us-president-trump-bans-us-citizens-from-buying-petro