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RE: Bitcoin trading volumes continue to explode in Venezuela

in #bitcoin6 years ago

They did create the petro cryptocurrency that is supposed to be attached to their oil reserves. Though judging by the lack of demand for it thus far, I don't think anyone actually believes that it is backed. Admittedly though I have not done much research on it yet.

https://en.wikipedia.org/wiki/Petro_(cryptocurrency)

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From what I hear, it's actually still nearly impossible to get, so it's still sort of a chicken and egg problem. Many of them will likely use it when they can get it.

I know most exchanges are not trading it. In fact I am not sure of any that are, though I haven't looked at many in South or Central America.