The Petro news is already world-wide level. the first algorithm designed by a state, based on natural wealth.
In this article I only want to leave you with evidence to decide if it is convenient or not the Petro cryptomontage. based on[NEM] technology.

Why petro?

Venezuelans are born in debt. Experts put the current amount of foreign debt at $150 billion dollars, which implies that each citizen owes $4,720 dollars for the commitment that the government and Petroleos de Venezuela made to foreign transnationals, based on this, to protect foreign investment Donald Trump imposes sanctions. These measures prohibit the negotiation of new debts and bonds to the Venezuelan government PDVSA, for overdue and unpaid debts, this has led the Venezuelan state to request debts at 40% tax (a somewhat high amount for a transaction of this quality). In order not to continue to increase the percentage so critical for debt negotiations, the Venezuelan government created the Petro cryptomontage, as a system of exchange to allow imports and debts to change without such a high percentage.

This coin has a quality unique in the world

It is the FIRST cryptomoneda backed in one in a verifiable reserve in this case of petroleum, which according to the Venezuelan national leader, will be the feature of confidence of the currency, what do I mean by this?

Petro will be equivalent to 1 barrel of petroleum only in its presale, I explain; it is backed in a barrel of petroleum by Petro, but no, this won't be something tangible, you can't go to the central 1 of ayacucho (place where the president reserved petroleum for the coin) to withdraw your barrel of petroleum with your Petro coins, will you ask yourself why? is equivalent to oil in *reserves* is oil that is still underground and as we know petroleum in the subsoil has no value, until it is extracted (all this from the costs of extraction and valuation in the market), and if, if it is verifiable, that reserve has oil for 200 years more. This only gives a fictitious sense of security.

Pre-sales of Petro tokens

For what they do not know that they are tokens, are a kind of tickets that investors buy before the official launch of the coin tokens, which then change to the official currency on the day of the launch the pre-sale is completely private can be purchased through Petro's home page, It should be noted that I do not receive the mail with instructions to buy petros (24h waiting I have not been able to complete the registration) the price of each Petro unit is USD $58.25.2 but you could also buy fractional (0.01 petro) This must be paid in other currencies or foreign currency.

Official link of the page to acquire this coin:
http://www.elpetro.gob.ve/

According to official data issued by the government of Venezuela

during the first 20 hours of private sales, this collection of 4777 million Yuan by Chinese investors ($735 million). The price of each Petro was put at $58.25.2 usb.

Agreements were signed with the Zeus platform for the development of Petro, and also with the Venezuelan company The Social Us to coordinate the strategic association with the Venezuelan exchange houses. the manual on the acquisition of licenses for Venezuelan bureaux de change and the manual on internal control for the prevention of money laundering was published (can be found at the link above)

The Treasury of Cryptoactives was created for the administration of funds in cryptomoney received by the Venezuelan State. Cryptoactive transactions will be accepted in the tourism sector, border gas stations, consular services, airlines, and public companies (PDVSA, Pequiven, and CVG)

The white paper assures that the money collected in the presales will be distributed in this way, one part will be destined to the intellectual development of petroleum, another to the general technological Venezuelan development, another to the development of the crypto ecosystem (investments in mining and coin expenses), and another will go to the Republic.

How to mine the Petro?

Savings banks (how to purchase mining equipment through minimum wage credit mining equipment only valid within the national territory), and state universities will have mining farms in which mining farms will be supplied by mining equipment imported from China, assembled by private Venezuelan companies, and produced by the public company VIT. because the Blackchain of Venezuela, which was a survey method for finding out how many people are willing to mine it with intellectual or computer skills, was not fruitful.

https://registro.blockchain.gob.ve/web/

Everything indicates that only Venezuelans will be able to mine this cryptomoney.

It is estimated that the pre-sale process and ICO of tokens will last 45 days, and then El Petro will be traded in the secondary market (exchanges).

A new gold-backed cryptomontage, the "gold petroleum", was issued.

Like laundering money with petro?

If anyone is interested in laundering money through petroleum, it can only be after the official launch of the coin, since at this time the pre-sale is completely private, and buy it through someone who has petros with clean assets bought in exchanges, so p2p. In direct contact with the individual who purchased petros with verifiable trust money. Supposing that you are not a high command of the Venezuelan state, if you fulfill this last characteristic it would be easier.

How to create Petro Wallet?

It's very simple, just follow the steps below:

Go to the website: (http://www.elpetro.gob.ve/)
Sign up, receive an email and enter the link that was sent to you.
In this link, you can download your Wallet. Download the archive.
Unzip the file and run it.
Open your Wallet, click Sign Up, click Simple Walles, then Ready and Next.
Assign a name and password to your Wallet.
Click Undertood.
Click Download Wallet and save in a safe place.
Click on the Show Private Key option.
Copy the "Seed Key" from your Wallet and keep it in a safe place.
Click I Have My Private Key and Password.
Check the option I Agree.
Select the Wallet from the drop-down menu and enter the password, click Sign in to login.
Select the Account option.
And you will have an option called Address, this will be the address you must send to receive PTR.

This currency will not always be backed by the oil barrel, only in the days of the pre-sale, it is a way to maintain confidence so that the petroleum was worth around $60 in pre-sales, then the value of the petroleum will be determined by the market acceptance value.

Is it convenient to invest in this currency?

An investment decision will depend on your investor profile. An analysis should be made regarding control, regulation, and your activity as an investor. And in order to see the dynamics of cryptomonitoring, it is necessary to carry out a technical and fundamental analysis, which is not yet possible due to the fact that it has not yet been launched on the market. personally I wouldn' t invest until you see reliable market results.

The public offering is scheduled for March 20.

TIPS

The largest amount of money in the world is not palpable if all the people who have money in a bank one day we do not consider withdrawing ALL the money could only be paid to 3% of the population, all the rest is part of a banking multiplier is virtual money, money that does not exist. And this would end the world economy.

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The truth behind the not mentioned PETRO |Can it be exchanged for oil? Is it profitable?