Venezuela will kill the trust in cryptocurrency.

[SilentLoudMouth]

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.

[Abusadeeq6]

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

[PhiliPPs]

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!

[napster]

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.

[AltLogan]

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 

[khufuking]

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.

[Zed0X]

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.

[ivanleon]

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.

[luvr1000]

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

[Contagem]

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.

[FelixArgyleNya]

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?

[fallenangel1789]

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.

[keyz]

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.

[sixexgames]

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.

[Markus Hoffmeier]

Such a dictator-ish move i'd say. Forcing people to do so without any infrastructure for crypto usage - sign of stupidity and recklessness