Petro Archives - Market Mad House

daniel February 23, 2018 Aramco ICO, Aramco IPO, Cryptocurrency is Far More Disruptive than You Think, Cryptocurrency Mining will Revolutionize Tax Collection, Cryptojackers, cryptojacking, cyberjackers, mine Ethereum (ETH), Petro, PetroDollar (XPD), President Nicholas Maduro, Tesla Motors (NASDAQ: TSLA, the Petro, Venezuela claims to have raised $735 million with Cryptocurrency sale, Why Governments will Start Cryptojacking, Will Saudi Arabia Launch an Aramco ICO?

Cryptojackers Demonstrating how Cryptocurrency Mining will Revolutionize Tax Collection

Criminals are inadvertently demonstrating how cryptocurrency mining can be used for tax collection.
The biggest users of cryptojacking in the future will be governments because it can be a cheap and efficient means of taxation.
Instead of spending billions on tax collectors, accountants, auditors, etc., all a government would have to do is require every company operating; or person that owns a computer, within its borders to install official cryptojacking software. The software would mine Ethereum (ETH), an ER20 token, or the government’s official cryptocurrency.
Companies and individuals would go along because they would not have to pay taxes. The proceeds of official cryptocurrency mining can be deposited in a sovereign wealth fund to finance basic income, or pensions.

Cryptocurrency Market Insanity

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Maduro Wants an OPEC Cryptocurrency?

Venezuela is backing the Petro with around five billion barrels of oil, Al Jazeera reported. An ICO of 38.4 million Petros is scheduled for 20 February 2018. Since the OPEC basket price for oil was $64.83 a barrel on 8 February 2018 – the oil backing the Petro was worth around $324.15 billion on that day.

Cryptocurrency Market Insanity

daniel January 19, 2018January 19, 2018 Can the Petro Save Venezuela from Maduro?, How Maduro Plans to use the Petro to rip off Investors and the Venezuelan people, Maduro’s Bad Economics will doom the Petro, Maduro’s pump and dump scheme, Marxist Maduro is trying to create a New Speculative Market in Oil, most of the world’s oil is outside of OPEC’s control, OPEC is as dead as black and white television, OPEC is Dead Get Used to It, Petro, Petro is a Pump and Dump Scam, Proof that OPEC is Irrelevant, The Petro digital currency, The Petro sounds like a classic pump and dump scam., The Petro’s value will be based on commodity prices, Venezuela’s Cryptocurrency, Venezuela’s Cryptocurrency shows us OPEC is dead

Venezuela’s Cryptocurrency shows us OPEC is dead

The Petro is described as a “cryptocurrency backed by reserves of Venezuelan wealth – of gold, oil, gas and diamonds.” The hope is to offer an alternative to Venezuela’s worthless currency the Bolivar and provide means of selling oil and borrowing money.

“The Petro digital currency would appear to be an extension of credit to the Venezuelan government (and) could, therefore, expose US persons to legal risk,” a U.S. Treasury press release stated. “(It) is another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people.”

The Petro’s value will be based on commodity prices, so it will be far more vulnerable to market speculation than a traditional fiat currency like the Bolivar.

Cryptocurrency

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Some Cryptocurrency Predictions for 2018

The biggest cryptocurrency event in 2018 will be the appearance of a government-issued cryptocurrency or a government ICO. There are plans for government ICOs in Venezuela and Estonia.

The Estonian effort is the most serious right now, but specifics on it are light. The Estonian ICO would have major effects because the Baltic Nation is part of the European Union and the Eurozone.

Expect the Ethereum Coin Price to shoot up if Estonia releases a cryptocurrency and the EU doesn’t try to kill it. There will be major speculative bubbles around both Ether and Estcoin if there is an Estonian ICO.

Cryptocurrency

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Meet Einsteinium the Cryptocurrency designed to save Science and Reform Taxation

The mining tax is potentially revolutionary because it gives governments a means of profiting from cryptocurrency. Nations with cheap electricity can levy such a tax on mining operations, or pools. Then deposit the proceeds in a wealth fund or the national treasury. Value investors should consider buying national and taxable cryptocurrencies – because they have a lot of potential for growth.