Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: SilentLoudMouth on December 16, 2018, 08:15:54 PM
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The Venezuelan authorities began to transfer the pension of the country's inhabitants to the local cryptocurrency. The pensioners' opinion is not taken into account. So fiat money is automatically converted into petro. People need to acquire an e-wallet to receive money, but they cannot spend it. However, they can exchange back for bolivars.
What do you think?
It seems that this will destroy the credibility of the cryptocurrency and turn people against the cryptoworld.
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Something is fishy and I think they sigt something that they want to avoid immediately. Crypto image will be always white. The more people leave crypto the double the people engaging in crpytographic. It just matter of time
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This is a special case, especially since I don’t think that one country can undermine the confidence of the whole world in cryptocurrency. Most likely they had some difficulties, so they decided to do it!
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No, I don't think so. Everybody who knows how to read and analyze can understand the situation of Venezuela. After getting some regulations, nobody will remember petro.
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That's completely ridiculous as old people don't even understand crypto nature.
The will never use their pension if it will be given in crypto.
That's really disappointing fact :-\
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I think that there is more into this, they can't just start to convert pension into crypto without an agreement, what if like you guys say that person is an old school person who doesn't even know how to use simple technology, I think there is something missing, but even if that is true then this will not effect Cryptocurrencies at all, it is individual acts that have nothing to do with the technology itself.
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While it is not right to force the pensioners, this may still end up well for their country. This may look ridiculous but it is a difficult time in their country right now and the Venezuelan government is pushing hard for the adoption of Petro to save their economy.
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The Venezuelan authorities began to transfer the pension of the country's inhabitants to the local cryptocurrency. The pensioners' opinion is not taken into account. So fiat money is automatically converted into petro. People need to acquire an e-wallet to receive money, but they cannot spend it. However, they can exchange back for bolivars.
What do you think?
It seems that this will destroy the credibility of the cryptocurrency and turn people against the cryptoworld.
Dictator Maduro chudit recently offered to pay for oil with Russia with his cryptocurrency. As far as I know, its price is tied to the price of oil, so it is at least some stability, and bolívar has a huge hyperinflation. Here are just pensioners is unlikely to be clear and convenient to use a digital wallet, maybe children and grandchildren will be able to help.
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I don’t see anything critical; on the contrary, it may have a positive effect, since many ordinary people will start to understand cryptocurrency and thus the flow of interested people will increase
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This is a special case, especially since I don’t think that one country can undermine the confidence of the whole world in cryptocurrency. Most likely they had some difficulties, so they decided to do it!
I also believe that what happens in one or several countries can significantly affect the crypto market. The use of DASH is born in Venezuela, it can positively affect the coin and set an example for other cryptocurrencies.
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looks like a extremely stupid idea. Do they test this idea at first? Currency that cannot be spend? What? WTF? For what reason? They hope that some people don't know how to transfer it back and they will keep the money back?
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Not only attitude of Venezıela government, but also politics of Iran and North Korea kill the trust in cryptocurrency. I think this prevents getting acceptance and support of the USA and some other developed countries.
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If there is a link that proves the news, it will be better because it can be used for the proof of this news. Well, we cannot trust at all of this information because it is one of the negative issues that may happen around the world. Crypto has been very actual in this world. I personally really hope that if the news is true, it will not kill crypto and I think it will never be.
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The Petro isn't really cryptocurrency IMO... it's the same old government controlled fiat we want to get away from... but just in a digital form. I guess I wouldn't like a state run cryptocurrency because the govt could track your every purchase.
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Such a dictator-ish move i'd say. Forcing people to do so without any infrastructure for crypto usage - sign of stupidity and recklessness
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policies that are so complicated, before they are applied are tested first so that policy changes occur again in the future
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I'd give the Venezuelan government the benefit of the doubt. It is easy for us to share our opinion when we are not in their situation. With all the sanctions they got, crypto is their way out.
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The Venezuelan authorities began to transfer the pension of the country's inhabitants to the local cryptocurrency. The pensioners' opinion is not taken into account. So fiat money is automatically converted into petro. People need to acquire an e-wallet to receive money, but they cannot spend it. However, they can exchange back for bolivars.
What do you think?
It seems that this will destroy the credibility of the cryptocurrency and turn people against the cryptoworld.
I think The Gov doubt about crypto currency. I think They should accept or create a new crypto not kill the trust in crypto currency.
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It may sound rude but I think they are stepping in the right direction. They are steering away from the control of super powers trying to sabotage their economy. These are just hard measures they have to take to survive and come back.
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I think the opposite is true. Although all that is happening in Venezuela and is one madness, but the state is functioning, and this is good.
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These events taking place in Venezuela can only have consequences mainly for the residents of Venezuela, because their local central cryptocurrency El-Petro goes mainly in this country, although you can buy it in other countries. True, the US government has banned its citizens from buying and using this coin, since it is mainly used as a means of circumventing US sanctions against the same Venezuela.
The decision of President Maduro to pay a pension in El-Petro will be a good experience about whether the cryptocurrency can displace ordinary money so much and whether the population is ready for it.
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Does it not give an opportunity to show that the existence of cryptocurrency within the economy is quite possible?
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It will not be able to kill him, but it will undermine the government's confidence that this system can be implemented...
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Maybe yes, maybe no. Anything that is being forced can get rejected. On the other hand, people may see it as a good step to save their dying economy
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I disagree with you, just because it will create a time bomb for the Venezuelan government if the price of bitcoin goes up again in 2 years will be its own benefit for the state and retirees, as assets that are not calculated turn into valuable assets
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It is too early for me to define what happened in Venezuela, there will certainly be pros and cons of these actions. But every decision from the government, there must be a goal and dream for a better country development. we hope
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What are you talking about? Venezuela is a pretty good experiment to test the performance of cryptocurrency in the field.
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That was it. BUT With the coming of the new president, all the money will go to the needs of the people of the country, and the cryptocurrency will develop in the other direction.
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The Venezuelan authorities began to transfer the pension of the country's inhabitants to the local cryptocurrency. The pensioners' opinion is not taken into account. So fiat money is automatically converted into petro. People need to acquire an e-wallet to receive money, but they cannot spend it. However, they can exchange back for bolivars.
What do you think?
It seems that this will destroy the credibility of the cryptocurrency and turn people against the cryptoworld.
In my opinion, cryptocurrency is the future technology.. No one can refuse it. Maybe Venezuela only kill in trust, not to kill all crypto technology
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The Venezuelan authorities began to transfer the pension of the country's inhabitants to the local cryptocurrency. The pensioners' opinion is not taken into account. So fiat money is automatically converted into petro. People need to acquire an e-wallet to receive money, but they cannot spend it. However, they can exchange back for bolivars.
What do you think?
It seems that this will destroy the credibility of the cryptocurrency and turn people against the cryptoworld.
I think It is bad news. It will kill the trust in cryptocurrencies.. Because people cannt spend it, Only have in e-wallet.
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This is a dictatorship decision and has nothiing to do with common crypto.. petro is a centralized crypto so its purpose is completely different
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of course no, these are two different parallels.
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The situation with the use of cryptocurrency in Venezuela is special. Of course, this is not normal if pensioners are forced to receive a pension in their local cryptocurrency El-Petro. It has both negative and positive sides. The population will very quickly learn how to use cryptocurrency, but you should not be forced to use it. In any case, these excesses will not be able to significantly affect the spread of cryptocurrency throughout the world.
Moreover, now the political and economic situation in this country is so critical that, apparently, President Maduro did not have long to be in power.