委内瑞拉
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End of Petro Era: Venezuela Destroys State-Backed Cryptocurrency
Venezuela’s ambitious cryptocurrency experiment, the Petro, launched with great fanfare in 2018 but ultimately failed. After six years of efforts that gained ground amid skepticism, technical hurdles and a serious corruption scandal, the government decided to end the program.
Petro’s Promise Broken: Venezuela’s Cryptocurrency Disaster
President Nicolas Maduro initially touted the Petrocoin as a revolutionary way to circumvent crippling U.S. sanctions and attract international investment. The product is priced at $60 per unit and is seen as a gateway to "new forms of international financing" based on the country's vast oil reserves.
Petro’s Promise Broken: Venezuela’s Cryptocurrency Disaster
President Nicolas Maduro initially touted the Petrocoin as a revolutionary way to circumvent crippling U.S. sanctions and attract international investment. The product is priced at $60 per unit and is seen as a gateway to "new forms of international financing" based on the country's vast oil reserves.
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🌐 Taking a page from Trump's playbook? Venezuelan opposition leader proposes Bitcoin as a national reserve!
Recently, Venezuelan opposition leader María Corina Machado proposed a bold plan: to use Bitcoin as a national reserve asset. The idea is somewhat similar to former U.S. President Trump's recent proposal to support the creation of a national Bitcoin reserve.
💸 In an interview, Machado talked about Bitcoin's potential role in alleviating Venezuela's economic collapse. She pointed out that financial mismanagement in Venezuela under former President Hugo Chávez and current President Nicolás Maduro led to the collapse of the country's currency, the Bolívar.
📉 Machado mentioned that Venezuela's currency, once relatively stable, has depreciated significantly, with inflation at 1.7 million percent and the price of basic goods doubling almost every two days. Since 2016, inflation has exceeded 8 million percent, causing millions of Venezuelans to flee the country.
🏦 Machado believes that during times of hyperinflation, many Venezuelans see Bitcoin as a "lifeline" and use it to protect their wealth. She described Bitcoin as a humanitarian tool and an important means of resisting economic crises. In the "new democratic Venezuela" she envisions, Bitcoin is key to rebuilding the country's wealth, helping poor citizens, and ensuring property rights.
💡 She also emphasized that Bitcoin donations cannot be seized in Venezuela and are a key element of the peaceful transition movement. She advocated for the use of Bitcoin technology to promote much-needed changes in Venezuela.
🤔 While Machado's proposal does not directly mention Trump, there are clear similarities between the two. Trump previously said that establishing a national Bitcoin reserve could serve as a strategic reserve asset and is crucial to solving the United States' national debt problem.
💬 What do you think of Machado's proposal and the role of Bitcoin in the national economy? Share your views in the comments section!
#比特币 #委内瑞拉 #国家储备 #经济危机 #特朗普
Recently, Venezuelan opposition leader María Corina Machado proposed a bold plan: to use Bitcoin as a national reserve asset. The idea is somewhat similar to former U.S. President Trump's recent proposal to support the creation of a national Bitcoin reserve.
💸 In an interview, Machado talked about Bitcoin's potential role in alleviating Venezuela's economic collapse. She pointed out that financial mismanagement in Venezuela under former President Hugo Chávez and current President Nicolás Maduro led to the collapse of the country's currency, the Bolívar.
📉 Machado mentioned that Venezuela's currency, once relatively stable, has depreciated significantly, with inflation at 1.7 million percent and the price of basic goods doubling almost every two days. Since 2016, inflation has exceeded 8 million percent, causing millions of Venezuelans to flee the country.
🏦 Machado believes that during times of hyperinflation, many Venezuelans see Bitcoin as a "lifeline" and use it to protect their wealth. She described Bitcoin as a humanitarian tool and an important means of resisting economic crises. In the "new democratic Venezuela" she envisions, Bitcoin is key to rebuilding the country's wealth, helping poor citizens, and ensuring property rights.
💡 She also emphasized that Bitcoin donations cannot be seized in Venezuela and are a key element of the peaceful transition movement. She advocated for the use of Bitcoin technology to promote much-needed changes in Venezuela.
🤔 While Machado's proposal does not directly mention Trump, there are clear similarities between the two. Trump previously said that establishing a national Bitcoin reserve could serve as a strategic reserve asset and is crucial to solving the United States' national debt problem.
💬 What do you think of Machado's proposal and the role of Bitcoin in the national economy? Share your views in the comments section!
#比特币 #委内瑞拉 #国家储备 #经济危机 #特朗普
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Venezuela cuts off power to crypto mining farms to strengthen grid security and crack down on illegal mining
overview:
• Venezuela will cut off power to all cryptocurrency mining farms in the national electricity system.
• The authorities cut off power supply due to excessive energy consumption and resulting power outages.
• The measure is mainly aimed at miners who do not pay their electricity bills.
Venezuela’s Ministry of Electricity has announced plans to disconnect all cryptocurrency mining farms from the National Electricity System (SEN).
The announcement, which affects all miners relying on the national grid, was made public on the Ministry of Power’s official Instagram account.
How will the plan affect Venezuela’s cryptocurrency mining industry?
• Venezuela will cut off power to all cryptocurrency mining farms in the national electricity system.
• The authorities cut off power supply due to excessive energy consumption and resulting power outages.
• The measure is mainly aimed at miners who do not pay their electricity bills.
Venezuela’s Ministry of Electricity has announced plans to disconnect all cryptocurrency mining farms from the National Electricity System (SEN).
The announcement, which affects all miners relying on the national grid, was made public on the Ministry of Power’s official Instagram account.
How will the plan affect Venezuela’s cryptocurrency mining industry?
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