The Venezuelan government has been engaged in persecution the last year against cryptocurrency miners, these miners have been victims of abuse as well as their mining equipment has been confiscated arbitrarily, because in Venezuela there is no a law that penalizes the digital mining.
Source: https://www.el-carabobeno.com/pareja-detenida-por-comercio-ilegal-con-7-maquinas-bitcoin-en-guacara/
Source: https://www.el-carabobeno.com/desmantelado-galpon-moneda-virtual-bitcoin-carabobo/
After this persecution, surprisingly the government has announced the creation of a Venezuelan cryptocurrency called "Petro", according to the president, this action responds to the need to face the financial crisis that crosses the country.
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The lie
The "Petro" can not function as a cryptocurrency, due to it has not the main characteristics that define a cryptocurrency.
Unfortunately, the "Petro" tends to become a fiduciary currency because the government maintains that the "cryptocurrency" is backed by different hydrocarbons and other extracted mineral resources. That's crazy, because that automatically converts "Petro" into a traditional currency but in a digital form. This is not going to work.
The positive
Last month, the government announced, the opening of a single registration of miners, in which people engaged in digital mining, the idea of the registration was or is in order to obtain a license to mine, not only “Petro” but other cryptocurrencies such as litecoin , bitcoin cash, dogecoin, etc ...
In the registration, the miner must enter his identification number as well as the equipment data and the coins he or she mines.
In this way, the miner enters a database, which assigns him or her an identifier that functions as a license to legally mining.
Here you have the registration for you to sign up - > https://registro.blockchain.gob.ve/web/
The Venezuelan "government" is nothing more than a gang of thieves. Venezuelans and the world deserve better. Get rid of the robbers.
Absolutely agree with you!
So by owning a petro I own a stake in their oil? Didn't they give most of the rights for the oil and minerals to Russian and Chinese investors anyway?
You can sell something twice. That would be a scam.
That is one of the great inconsistencies of this government!