Good morning my dear readers, once again pleased to be able to write for all of you. Writing and reading are the fundamental bases for developing free and independent minds in man, which we need more than ever today. All those people who invest their valuable time in educating themselves deserve to be on the highest podium of training and wisdom, you will not be easily fooled.
As it is known throughout history, there were a diversity of forms of payments, among these were exchanges or barters and the use of precious metals to obtain goods and services, which later opened the gap to give rise to the implementation of the use of physical money such as bills and coins. However, in a completely globalized world with access to the internet, it was necessary to create a more appropriate means of exchange adjusted to our technological era, which is why cryptocurrencies or crypto assets were born. These are completely digital currencies used to exchange, allowing instant transactions through the internet regardless of any border.
Cryptocurrencies have some characteristics, they are decentralized currencies that are not controlled by any institution and are not backed by any government, they are cryptographic so they use encryption techniques which make payments and collections safe, they are completely private, the system protects the user from any forgery, they can be exchanged for other currencies, they do not need intermediaries to carry out transactions, they can be used anywhere on the planet as long as there is already an agreement between the payer and the collector. Each of the transactions occur immediately where they can be viewed by anyone in order.
In Venezuela for the year 2018 with the collapse of the national currency, President Nicolás Maduro announces the launch of the first national cryptocurrency: the petro. Which would be being backed by the country's natural resources such as oil, gold, diamonds and gas, with the aim of avoiding the economic sanctions that were imposed by the US government. Ensuring that a petro would be backed by a barrel of Venezuelan oil, and allocating a total of 5 billion barrels of crude oil as backing for the digital currency. The dream of former President Hugo Chávez would be fulfilled, who always wanted to create a currency that was backed by natural resources and that was used throughout the region to deal with the US international currency (the dollar) and thus be able to reactivate the national and regional economy. .
The petro since its creation once again turned out to be a great fake of the Venezuelan government, nor does the common citizen want to invest in an unreliable currency that cannot be exchanged even in the territory. To all this is added the fact that it is a cryptocurrency controlled by a government entity, so it is not a decentralized currency, never before has a cryptocurrency been backed by assets of a nation, which makes it unreliable for investors. The petro is anchored at the cost of a barrel of oil, but the low production of Venezuelan crude is a secret to no one. Who wants to come to drill the oil wells to support their petros? The government takes the baton of the operations carried out, they set prices and control mining, to the point of regulating the cryptocurrency and not being able to be mined, it can only be delivered through auctions, once again its time is revealed credibility.
The cryptocurrency called petro is a vile hoax by the Venezuelan government, which desperately seeks to continue bleeding the Venezuelan nation for financial gain by pretending to circumvent the sanctions of the United States government. It is an instrument that in the long term will generate a large public debt, the Treasury Department suggested not to invest in this currency and those who get involved may be sanctioned. On the other hand, the government with this digital currency seeks to sell itself and give itself the change at the same time, which makes it a very risky possible investment. The petro should not be considered as a cryptocurrency but as a political instrument used to give bonds as if they were social benefits, and many who have tried to auction them through the homeland system page have observed that the petro returns to its purse or account of origin . And those who manage to exchange them for bolivars do so due to a low supply of demand.
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