Venezuela Artificially Inflates Petro 150 Percent As Bitcoin Sets New Record

Venezuela saw yet another new record for Bitcoin use December 1 after another week of economic shake-ups made the cryptocurrency more appealing than ever. 1 Week, 1300 Bitcoins Data from Coin Dance confirms that in the seven days ending Saturday, Venezuelans transacted 1284 BTC ($5.1 million) via P2P trading platform Localbitcoins alone. In terms of […]

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Venezuela Finally Launches Controversial State-issued Petro Cryptocurrency

Venezuela’s President Nicolas Maduro recently announced the official launch of the Petro cryptocurrency. In a follow-up development, the government says payment for travel passports will now be made in Petro.  Petro Public Sale Starts November 2018 According to RT News, the Petro public sale commences on November 5, 2018, more than eight months after its […]

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Bitcoin Sees Biggest Trade Volume in Venezuela as Dash Branded ‘Snake Oil’

Bitcoin trading volumes in stricken Venezuela spiked again last week as one local commentator called claims Dash is making inroads in the country “snake oil.” GóMez: ‘No One Uses Dash’ for Payments Figures from P2P trading platform Localbitcoins gathered by monitoring site Coin Dance show a total of 898 BTC and 877 BTC changed hands […]

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Venezuela: Record Bitcoin Buying Spree Continues Amid Hyperinflation

Kevin O’Brien · June 21, 2018 · 8:00 pm Hyperinflation is rampant in Venezuela as bitcoin trading volume keeps hitting new records each week. Meanwhile, authorities are scratching their heads on how to rein in the burgeoning, albeit underground industry, including attempts to crackdown on the importation of cryptocurrency mining equipment. Oil Rich But Strapped […]

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2.7 TRILLION Bolivars: Venezuela Bitcoin Trading Hits All-Time High

Wilma Woo · April 16, 2018 · 7:00 am Venezuela Localbitcoins users traded a record 2.7 trillion bolivars in the week ending April 14, new data shows. $55 Million A Week In Bitcoin Coming just after the debt-ridden country’s parliament formally approved a law requiring all government institutions to accept its Petro cryptocurrency by July, […]

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South Korean Capital Looks to Launch City-Wide Cryptocurrency S-Coin

Adam James · April 5, 2018 · 1:00 am Following suit with various other cities around the globe, South Korea’s capital city is looking to become one of the largest cities in the world with its own official cryptocurrency. S stands for S-coin South Korea is already one of the cryptocurrency capitals of the world. […]

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Venezuela’s Petro Now Purchasable with Foreign Fiat

Adam James · March 25, 2018 · 4:45 am Last month, Venezuela became the first country to issue its own cryptocurrency with the launch of the purportedly oil-backed Petro. Now, the digital currency is available for purchase with a variety of fiat currencies — just not the dollar. Petro for Fiat Venezuelan citizens, companies, and […]

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President Maduro: Venezuela to Launch ‘Petro’ Pre-Sale on February 20

Ashour Iesho · February 3, 2018 · 2:30 am In a move that the government hopes will bring much needed economic relief, Venezuela’s President Nicolas Maduro announced earlier this week that the pre-sale of the country’s new ‘petro’ cryptocurrency will begin on February 20. A Cryptocurrency Backed by Crude For years, Venezuela has been struggling […]

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