Petroleum Probably Does Not Exist, Oil Spill Backup: Reporting
Petroleum Probably Does Not Exist, Oil Spill Backup: Reporting
Venezuelan President Nicholas Maduro is the only place in the media where Petro is present, a month after the creation of Petro, a state-sponsored crypto currency that is supposed to bring the country into six-digit hyperinflation.

A special report by Reuters recently documented the situation in the oil-rich region surrounding the town of Atapiria, where most of Petro’s oil reserves are located.

“5 Billion Crude Oil Barrels”
In Maduro’s announcement of the creation of Petro in February, the sparsely populated settlement around Atapiria was cited as an “independent international certification agency” and was launched as a liquid gold mine containing reserves of 5.3 billion barrels of crude oil.

These oil reserves, named Ayacucho I, were announced as the support price of the new crypto currency, while the government struggled to find a serious economic situation path to Weimar Germany and a thousand years later Zimbabwe. Venezuelan crude oil (about $ 66 per barrel) as a guide.

According to the official line, funds from investors from around the world are creating jobs for the squeaky oil-exporting industry, which is affected by Venezuela’s chronic investment shortage and the lack of fashionable past machines, and a new life is under way.

Reuters’ visit to the region revealed a very different fact, because the residents apparently have not seen any promises of investment in Petro or Atapiria. In fact, as it turned out, no one inside or outside of Venezuela seemed to have taken over Petro at all.

Where’s Petro?
According to the report, it is known that no store in Venezuela currently accepts Petro, and the only receivers that can be reached are anonymous posters in forums like Bitcointalk. Some posters complain that they are “cheating,” while other posters claim that the Venezuelan government has taken over the parrot parrots and negatively affected US sanctions and the media.

At the government level, the contradiction is also about $ 5 billion out of Petro Madagh, and that the coin is already active, while the Cabinet minister, Hugbel Roa, who is in the Petro project, is still developing Petro behind that technology and no one has yet Petro coins.

Adding to the general sense of confusion is the lack of clarity as to where the Kriptoasset Auditors, the governmental agency that monitors Petro, is. Apparently there is no confirmed physical presence, the website is not active, and its president, Joselit Ramirez, does not respond to messages on social media pages.

When is Petro ICO?
Earlier in the year, President Maduro claimed that the anonymous nature of the crypto currency would help investors to ban US citizens from buying or using Petro, founded by US President Donald Trump in March.

Petro continues to double this position by claiming that the ICO has brought in $ 5 billion, an amount that will realize the most successful ICO that has been carried out to date. However, experts say it does not contain enough information to determine how much the ICO-linked records have been raised or whether an ICO actually took place.

In the Reuters report, Tom Robinson, chief data officer and co-founder of London-based Elliptic, says:

“This does not look like a typical ICO, given the low level of transaction activity. We have not found any evidence that anyone could publish a petro or actively trade in any stock exchange.

Clearly, the Venezuelan authorities have not issued a purchase order of the ICO to confirm Maduro’s allegations. Best of all, there is a suggestion in March that the NEM-based ore exports claimed by the Venezuelan government earned about $ 850 million from the sale of 82.4 million coins, but the absence of the mentioned investors makes this practically impossible.

With the only exception of Coinsecure in India, a large crypto currency exchange on earth can not list Petro. Instead, they are presented as guardians of an alleged petro trade, a handful of a handful of people spread across Asia and South America, some of whom have no internet presence.


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