I'm a Cryptojew AMA - watch me trade (sometimes poorly)

Cubanodun said:
Today the White Paper of the Petro was released and finally can see come of the sheer idiocy that is going to be the first shitcoin created by a Government
Click to expand...

Sounds like it's going to be a shitcoin and since they control it, they're going to do the same manipulation you'd expect and any time they need more money, just tweak the difficulty or the reward to make more.
 
AnOminous said:
Sounds like it's going to be a shitcoin and since they control it, they're going to do the same manipulation you'd expect and any time they need more money, just tweak the difficulty or the reward to make more.
Click to expand...

Dont know about that, the White paper establish that they are not going to make any more coins after the first batch, but this would not be the first time they broke the rules (Page 14 in Restrictions)

Also i finished reading the paper completely and i have to say the boldness they have to say stupidities is amazing

1) They claim that Maduro created the Petro when in reality the idea was from Chavez and he created it back in 2009 but the thing is that Chavez wanted to created something like the Bancor maduro just repurposed the idea with Cryptocurrencies

2) They are calling Venezuela a "emerging nation" my ass it is

3) They are calling the petro the first cryptocurrency that venezuela had, a bold lie, Chavez created the Sucre , the coin was created to allow members of the ALBA to make transactions quicky between themselves, the coin died almost as quickly as it was created because Chavez was stupid

4) They are claiming that one of the main industries of venezuela are medicines, when is well know that venezuelans are dying for the lack of it


The only good thing that i have see in all the papers is that they are going to give fiscal benefits to any business that accept Petros, the paper is very vague but apparently only by having a wallet and accepting petros you get the benefits besides that this is doomed to fail
 
  • Informative
Reactions: Marvin, Begemot, Skeletor and 1 other person
In a very ̶s̶t̶u̶p̶i̶d̶ bold move our glorious government decide to invest money in what is best to their people, It is food? it is medicines? is finally a open market?

No, they want to make miners , called Miner VIT E8000 is supposedly a kickass miner that let you drown in filthy cryptoshekels there is no specs or nothing like is just a name but dont expect to see it anytime soon

And if for some reason they actually made it you can buy it for next to nothing considering how devaluated the bolivar is (i recently meet a guy that was selling his car for 300$)
 
  • Informative
Reactions: CrunkLord420
Cubanodun said:
In a very ̶s̶t̶u̶p̶i̶d̶ bold move our glorious government decide to invest money in what is best to their people, It is food? it is medicines? is finally a open market?

No, they want to make miners , called Miner VIT E8000 is supposedly a kickass miner that let you drown in filthy cryptoshekels there is no specs or nothing like is just a name but dont expect to see it anytime soon

And if for some reason they actually made it you can buy it for next to nothing considering how devaluated the bolivar is (i recently meet a guy that was selling his car for 300$)
Click to expand...
There's some politics going around about a new power plant (renewable energy) and how it shouldn't be cancelled because we don't need that much electricity right now. It seems crazy to me no one has stated that with crypto mining there is no reason to claim such a thing as "unused power". Anything excess generated can be diverted to miners (and battery banks for them).

The government wouldn't even have to invest in miners, they could just offer cheap intermittent electricity to a warehouse and license spots out to miners for a cut.
 
CrunkLord420 said:
There's some politics going around about a new power plant (renewable energy) and how it shouldn't be cancelled because we don't need that much electricity right now. It seems crazy to me no one has stated that with crypto mining there is no reason to claim such a thing as "unused power". Anything excess generated can be diverted to miners (and battery banks for them).

The government wouldn't even have to invest in miners, they could just offer cheap intermittent electricity to a warehouse and license spots out to miners for a cut.
Click to expand...

There are plans for that included in all the petro fuckery but what can you expect when the power is managed by them and everytime they screw it up they blame ninjas and commandos from the USA when in reality is for lack of maintenance?

Yesterday three states where completely out of power, instead of investing in repairs and upgrades for the electrical system they are wasting their time in farms to mine cryptocurrency
 
  • Feels
Reactions: Done, Begemot, CrunkLord420 and 1 other person
Well my friend we continue the wild ride of the Petro, after a very stupid and worthless celebration of the first presale of inauguration lets resume the ammount of fuckery that has happened

1) Maduro claimed that everyone in venezuela could get a Petro, is the CRIPTOCURRENCY for the people!!!! Finally a good cryptoshekel for the poor.... nawww this appear when you try to go to the presale

Screenshot_2018-02-21-15-18-19.png


Yes you cant buy Petros with Bolivares only with Dollars or Euros so much for "including the people"

You can also buy it with another Cryptocurrencies but only accepts Ethereum and Bitcoins so yeah everyone that live here is pretty much fucked

2)Maduro was bragging very hard that he managed to get 774 millions dollars with the petro presale, he was euphoric, shame that is very very very far from the truth

3) @Null would love this one, our super IT team is so stupid and moronic that they fucked the DNS entries of the website of the MOST SECURE WEBSITE FOR THE MOST SECURE CRYPTO OF THE WORLD, did i tell you that the damn thing doesnt even use HTTPS? the Farms is more secure that a official goverment bank website go figure

DWeIQuRX0AAVC-c.jpeg

DWeIVLIW0AAEGkZ.jpeg

4) The "Buyers manual" of the petro is just a goddamn 2.2 MB PDF file that only explain how to register to the website and how to download and install the software to make the wallet, no explanation about how to enter the presale, how to buy or how to anything

5) To put the final nail in the coffin Maduro also believed that he could bypass the USA sanctions by using the petro, sadly the Trump train stopped him


so tl;dr it was a massive failure of epic proportion and for nothing

 
  • Informative
  • Feels
Reactions: CrunkLord420, Gator Young Henning, lindsayfan and 2 others
CrunkLord420 said:
Markets feel weird right now, anyone else think so?
Click to expand...

Yeah. It's always unpredictable though but it feels like we might see lower prices (depending on what you're invested in).

The best thing (long term) that can happen is for BTC to take a beating and for other coins to start to gain prominence. Bitcoin is probably the worst thing to happen to crypto even though it is crypto because of all the politics involved.
 
de_DEVIL_tails said:
Hey i have 10,000 real world dollars of american denomenation what types of bitcoins should i buy thanks in advance
Click to expand...

Buy 9k worth of boring normie investments and then play around with the remaining 1k on Dogecoin or whatever.
 
You must log in or register to reply here.
Back