Venezuela: First Bitcoin ATM Incoming amid Failing Economy and Sullen Petro

In a country that many believe proves how fiat currencies can destroy an entire country’s infrastructure and economy, the first Bitcoin ATM in Venezuela will finally be installed, about two weeks from January 20, 2019.

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Venezuela to See the First Bitcoin ATM Installed in the Country Amid LocalBitcoins Closing

Cryptocurrencies continue to expand in Venezuela, a country hit by a social and economic crisis. The country has registered new Bitcoin volume trading records almost every single week according to LocalBitcoins.

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Bitcoin ATM Manufacturer CryptoBuyer to Install First Bitcoin ATM in Venezuela

The South American country of Venezuela is finally joining in the Bitcoin ATM campaign, thanks to Bitcoin ATM manufacturer CryptoBuyer. The Panama based company is to install the very first Bitcoin ATM in Venezuela within the next two weeks.

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Venezuela: First Bitcoin ATM Opens ‘In 2 Weeks’ Amid Localbitcoins Shutdown Reports

Venezuela, the country seeing new Bitcoin trade volume records on an almost weekly basis, is to get its first ever Bitcoin ATM. Cryptobuyer: ATM Already In Caracas In an interview with local radio and news media network Union Radio, Jorge Farias, CEO of Panama-based Cryptobuyer, said the machine had already arrived in the country’s capital Caracas.

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Venezuela Could Set New Precedent for Bitcoin as a Medium of Exchange

Hyperinflation in Venezuela is estimated to have reached a boggling 1. 3 million percent in 2018. To reconcile runaway prices, the wealthy and the technologically savvy have turned to the stock market and cryptocurrency.

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Russia Declines to Use Venezuela’s Petro Crypto Coin, Proposes to Help the Country Without it

Although Russia acknowledges the efforts that Venezuela has made to create Petro, an oil-backed coin, to deal with the U. S. sanctions and inflation, it has said that it’s not ready to use it in bilateral trade but would continue supporting Venezuela.

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Russia Not Ready for the Petro, Proposes Plan to Aid Venezuela Without It

Acknowledging Venezuela’s efforts to deal with inflation and sanctions by creating a state-issued cryptocurrency, Russian officials have nevertheless declined a proposal to use the oil-backed coin in bilateral trade.

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Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies

The Venezuelan government has published a decree requiring taxpayers with crypto operations in the country to pay their taxes in cryptocurrencies. Similarly, operators of foreign currencies must pay their taxes in those currencies.

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New LocalBitcoins’ Bitcoin Trading Volume In Venezuela Increases At Record Numbers

Bitcoin Volume In Venezuela Increases At Record Numbers Venezuela has recently experienced the biggest spike in Bitcoin volume over the last week. Never before people used so much Bitcoin (BTC) in Venezuela, a country that is currently plagued by hyperinflation that is destroying its economy.

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Venezuela Sees Biggest Increase in Bitcoin Volume to Date

Venezuela has experienced its biggest jump in bitcoin volume over the past week with 1,974 BTC traded on LocalBitcoins. Venezuela Sees Biggest Jump in Bitcoin Volume to Date As the word spreads about the worsening humanitarian crisis in Latin America’s most oil-rich country, peer-to-peer purchases of bitcoin are on the rise.

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Venezuela to Use Petro in Oil Sales Starting Next Year

Venezuelan President Nicolas Maduro has announced that as of March 2019, the country will sell oil only in Petro.

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Zooko from ZCash Urges Community to Donate to AirDropVenezuela

On December 10, 2018, the co-founder of privacy-oriented cryptocurrency ZCash asked community members to participate in AirdropVenezuela. The charitable venue promises to raise $1,000,000 to support 100,000 Venezuelan citizens as well as promote adoption of the cryptocurrency wallet Airtm.

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Venezuela to Use Petro Cryptocurrency in International Oil Trade

The government of Venezuela recently announced the intended sale of its oil using the Petro cryptocurrency to circumvent U. S economic sanctions come 2019. Circumventing U. S. Sanctions According to Venezuela-based satellite tv, TeleSUR, Venezuelan President, Nicolas Maduro announced that country would create a basket of cryptocurrency for oil-backed state cryptocurrency, Petro.

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President Maduro Says Petro Crypto Expected To Be Used To Pay For Venezuela’s Oil Next Year

Venezuela has been struggling with hyperinflation for over five years now, and the economy continues to suffer as a result. Citizens have died of starvation, unable to even buy a meal for their family, while others look outside of the country to find something to eat.

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Venezuelans Remain Skeptical After President Maduro Raises Petro’s Value

Nicolas Maduro’s move to increase the price of the petro, the country’s oil-backed cryptocurrency designed to counter inflation, has sparked intense debate. Experts and tech-savvy Venezuelans alike are less than enthusiastic about the Venezuelan president’s decision.

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Venezuela’s President Nicolas Maduro raises price of Petro by more than 100%

The Venezuelan cryptocurrency the Petro has increased in value from 3. 600 Bs. s to 9,000 Bs. s. The increase was ordered the country’s president who has been working hard to see the cryptocurrency succeeds.

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Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double

Venezuela’s President Nicolas Maduro has announced that the price of the petro, his country’s national “cryptocurrency,” has been increased from 3,600 sovereign bolivars to 9,000.

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What Is Cryptocurrency? “Jeopardy!” Features Entire Category on Crypto

Is cryptocurrency becoming more mainstream? It could be if one of America’s most prominent game shows features an entire category devoted to it. The November 29, 2018, episode of “Jeopardy!” — which has been on the air since 1964 — offered five unique questions centered around cryptocurrencies and their technology to test out its contestants’ knowledge on the subject: The results reveal that they did indeed know their fair share.

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Mexican Startup Wants to Support Venezuelans With $1 Million Crypto Airdrop

Mexican startup Airtm will launch a campaign to raise donations for Venezuelans, a country whose poor monetary policies have plagued it with hyperinflation. Called the AirdropVenezuela.

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Venezuela Traded More Bitcoin Than Ever Before In October

Venezuela set a new Bitcoin trading record last week as the country embraces cryptocurrency more than ever. Venezuela Trades 1075 BTC in 7 Days According to data from monitoring resource Coin Dance, despite continued volatility in the country’s dubious redenominated currency the Sovereign Bolivar, trade volumes for the seven days ending November 3 still beat all previous highs.

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Venezuela’s Supreme Court Orders Payment in National Cryptocurrency

Venezuela’s Supreme Tribunal of Justice has ordered a compensation payment of 266 petros, the country’s national cryptocurrency, in a workplace injury case. Meanwhile, the Venezuelan government has launched the petro savings plan, backed by 4 million of the digital currency.

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Petro Cryptocurrency Is Legally Recognized As Valid Tender By Venezuela Supreme Court

Venezuela has been working hard to establish itself as the first country to launch a national cryptocurrency – the Petro. The government announced that the cryptocurrency is to mitigate issues associated with traditional fiat currency.

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Venezuela Begins Public Sale of National Cryptocurrency Petro

The Venezuelan government has opened up an exchange desk for the country’s national cryptocurrency at the headquarters of the Superintendency of Cryptoassets. According to the government, investors can now purchase the petro with a number of fiat currencies and cryptocurrencies.

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LocalBitcoins Volumes Are Dominated by Russia and Venezuela, New Data Finds

LocalBitcoins is a good yardstick for measuring bitcoin usage on a country by country basis. A new analysis dives deeper than ever before into the data, considering metrics that have previously been overlooked.

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Venezuela Government Approves Six Exchanges to Sell Petro Cryptocurrency

Venezuela has managed to establish a national cryptocurrency, which is called the Petro. In a recent announcement on the government website, the authorities explained that they would be authorizing six different crypto platforms to sell it.

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Petro Tokens Will Soon be for Sale, But Will Anyone Want to Buy Them?

Most of us probably don’t have the highest opinion about Venezuela due to all of the bad press we have heard about the place over the years. However; the country has put a large number of their national assets into a token they hope will become all the rage, but will the world be willing […] The post Petro Tokens Will Soon be for Sale, But Will Anyone Want to Buy Them? appeared first on NullTX.

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Cryptos Gain Adoption Amid Venezuela’s Economic Turmoil

Life in Venezuela is anything but. Last year, the South American nation of 32 million led the world with 652% inflation and this year the economic turmoil is even worse. As of September 2018, the annual inflation was estimated at 200,000% and International Monetary Fund (IMF) said it could spike to a mindboggling 1,000,000% by December.

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Venezuela Bitcoin Trading Hits New Record As Maduro Confirms Petro Launch

Venezuela posted its largest-ever Bitcoin trading volumes last week, data compiled October 6 confirms, as the country announced several new economic shake-ups.   7 Days, $7 Million Statistics covering P2P trading platform Localbitcoins show that Venezuelans converted a total of 1073 BTC ($7.

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Venezuela Demands Citizens Pay for Passports With Petro

Venezuelan authorities have found another way to impose the adoption of the state-issued cryptocurrency, the petro. Citizens will soon have to pay with the government-controlled digital coin if they want to obtain a travel document.

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Crypto Will Soon be the Only Option for Venezuelans Looking to Buy a Passport

The thousands of people trying to get out of Venezuela will soon have another hurdle in their path: the inability to buy a passport without enough of the country’s new cryptocurrency Petro. Thousands Trying to Leave The economic crisis that led to the Petro’s creation has caused an estimated 5,000 people per day to leave […] The post Crypto Will Soon be the Only Option for Venezuelans Looking to Buy a Passport appeared first on CryptoSlate.

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Venezuela: President Nicolas Maduro Announces Launch of National Cryptocurrency

In an effort to reinvigorate an economy crippled by socialism on one hand and US-led sanctions on the other, Venezuela established the Economic Recovery, Growth, and Prosperity Program, which resulted in the development of a state-supported cryptocurrency.

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Venezuela Makes Petro Crypto a National Currency, Publishes New Whitepaper

Venezuela’s president Nicolas Maduro has made several claims regarding his country’s digital currency this week. He announced the launch of the petro as a national currency on Monday, reportedly claiming that it is already “present in the world’s six topmost international exchange houses.

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Venezuela Set to Officially Release its Oil-backed Petro Next Week

The Petro, Venezuela’s controversial cryptocurrency is finally ready for official release to the global cryptocurrency market, the Venezuelan government said. The government is hoping that the cryptocurrency gains popularity as it is part of efforts to rescue the country’s financial system which has been swallowed up by inflation.

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Venezuela Formally Releases Petro, Will It Aid the Country’s Economic Recovery?

Venezuela’s oil-backed cryptocurrency, the Petro, will be released to the global markets this Monday, marking one of the first cryptocurrencies in the industry to be created and administered by a government.

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Dash Text opens to public in Venezuela enabling DASH payments via SMS

Dash Text, a Venezuela-based company providing SMS-based transactions for the cryptocurrency DASH, is now in public beta and able to be accessed via five-digit shortcode on Movistar, one of the country’s three major telecom companies, with support.

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The Next ‘Venezuela’? Bitcoin Up Over $8,400 in Iran Amid Hyperinflation

Bitcoin price has risen dramatically in Iran following the government’s decision to grant legal recognition to the country’s cryptocurrency mining industry. Bitcoin Premium Comes to Iran While Bitcoin suffered an almost $1,000 drop in the rest of the world, the top-ranked cryptocurrency was reaching new heights in Iran.

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Where Is Petro – Venezuela’s Sovereign Cryptocurrency?

Cryptocurrency is the answer to some problems in the world, but it isn’t necessarily a savior for an economy plagued by hyperinflation and bad policies. The Nicolas Maduro led Venezuelan government has failed on several fronts to save the country from extreme hardships.

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Hyper Inflation in Venezuela Makes for Interesting Times in Cryptocurrency

Cryptocurrency–While the ongoing inflation and forced impoverization of the Venezuelan population is bordering on a crisis, the scenario surrounding government fiscal policy, imposed fiat usage and the role of cryptocurrency is creating an interesting incubation for the industry.

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Bitcoin Magazine’s Week in Review: More Than an Academic View of Progress

This past week has seen progress in two aspects of Bitcoin: privacy and payments. Attitudes toward blockchain technology are also showing progress as two surveys reveal.

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Venezuela Citizens See ‘No Sign’ of National Petro Cryptocurrency

Amidst a mounting economic crisis, Venezuela’s oil-backed cryptocurrency the Petro is nowhere to be found. Numerous reports indicate an almost non-existent usage within the country. ‘Hard to Spot Almost Anywhere’ According to a report from Reuters dated August 30th, the Venezuelan town of Atapirire has not yet reaped the fruits of Venezuela’s oil-backed cryptocurrency efforts.

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Venezuela’s Central Bank Unveils Android App for Bolivar to Petro Conversion

In a bid to push its new digital currency, the Banco Central de Venezuela, the country’s central bank, has recently launched an Android app. The app, known as “Calculadora Soberana”, allows users to convert their old Bolivar to the newly coined Bolivar Soberano, which is pegged to the country’s controversial Petro cryptocurrency.

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Venezuela’s Central Bank Unveils App to Convert New Crypto-Pegged ‘Sovereign Bolivar’

Hyperinflation in Venezuela is so bad, the nation’s Central Bank has released an Android app to help citizens calculate how many new sovereign bolivar units they possess. The release arrives after the national government re-denominated the old currency last week.

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Reddit Co-Founder Bullish Despite Bitcoin Volatility

Reddit Co-founder Alexis Ohanian has revealed his optimism about the future success of bitcoin despite the daily slump in price in an interview with Yahoo Finance.

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Could Cryptocurrency Be the Solution to Venezuela’s Problems?

Venezuela is the world's richest country in terms of oil. Yet its people are starving. With devaluation, hyperinflation and crisis is cryptocurrency the answer? The post Could Cryptocurrency Be the Solution to Venezuela’s Problems? appeared first on CoinCentral.

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Venezuela’s Oil-Backed Cryptocurrency Is Giving Blockchain A Bad Name

And it won't solve the country's economic problems either.

The post Venezuela’s Oil-Backed Cryptocurrency Is Giving Blockchain A Bad Name appeared first on Futurism.

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Dash Adoption Grows in Venezuela Amidst Hyperinflation

Dash, the 14th-ranked cryptocurrency by market capitalization, is reportedly experiencing increased adoption in Venezuela via an increase in wallet downloads and merchant signups. This surge in adoption comes as the country continues to battle crippling hyperinflation.

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New Venezuela Bolivar A ‘Scam On Top Of Another Scam,’ Says Media

The government of Venezuela pegging its national currency to cryptocurrency Petro and relaunching is a “bigger stunt” than 1920’s Germany during hyperinflation. Scam Me Once… That’s according to a scathing report in Wired August 22, which cites a number of cryptocurrency industry sources describing the country’s latest bid to stabilize its economy as “pure nonsense” and a “smoke curtain.

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Dash Sees Surging Adoption Rates in Hyperinflation Stricken Venezuela

The cryptocurrency Dash is becoming more widely used and accepted in Venezuela. The nation’s economy has long suffered under socialist guidance, and hyperinflation is forcing citizens to look for alternatives.

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Venezuela Is Launching a New Currency to Help Save Its Economy

Venezuela’s economic conditions are worsening by the day, and the authorities have turned to digital coins to help facilitate growth. However, what started with the “Petro” as a digital currency experiment has now given way to a unique (albeit crazy) plan of the Maduro-led government.

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