Not that we gave them the benefit of the doubt, but boy what an extraordinary mess
- Maduro made claims on national television that $735m was raised in the first day of the $PTR pre-sale
- The website has been largely unusable, but those that managed to go through registration noticed they were only allowed to state an offer range
- They have switched from Ethereum to the NEM blockchain at the last minute, without providing any explanation
- All premined tokens are supposedly still sitting in this one
NEM address, though this is highly speculative as the government have not confirmed what the official address is
- the public ICO is scheduled for March 20th, when presumably all tokens will be paid for and then issued
- some diligent eyes noticed
in the fine print that the Petro is in fact supposed to be redeemable for the *value* of a barrel of oil, denominated in...Bolivars! Yes, a Petro is redeemable for heavily inflating Bolivars.
- If that wasn't enough, Maduro has also announced
plans to issue a second crypto currencies backed by gold reserves (the Petro Oro).
On the lead up to this, the government has been raiding and expropriating
equipment of Venezuelan bitcoin miners, often with brute force.
The whole is sad and terrifying...