Thread by @LocalCryptosEN

"The Petro is for everyone everywhere, it offers all the safety and transparency for your transactions"

Don't be fooled. (Thread)

#Petro #PTR #PetroNuevaEraEconomica #Cripto #Crypto

*For everyone everywhere*

It’s only available in licensed local exchanges exclusively selected by Venezuelan government. So far, Maduro mentioned six unnamed exchanges where PTR will be listed, however no exchange has made such an announcement. Also, it's sanctioned in the US.

*Safety*

Mining of Petro (PTR) is centralised by the corrupt Venezuelan state. There is absolutely no safety. Their “PoS and PoW algorithm” nonsense is useless and a ruse.

*Transparency*

It used to be “backed” by petroleum. Now it’s “backed” by 50% oil, 20% gold, 20% iron and 10% diamond. However, (1) it’s not actually redeemable, so it's not actually backed by anything; and (2) we’re supposed to trust the Venezuelan government's to audit it.

The press conference today was mostly vague nonsensical declarations without concrete details on the launch.

Petro is a sham, just like the Bs.S is a sham. Don't be fooled by the Venezuelan state; use a real cryptocurrency for commerce.