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Venezuelans Selling Petro on LocalBitcoins at Half the Official Price

News Venezuelans are reportedly selling the state-launched Petro (PTR) cryptocurrency that was airdropped to them recently. Though the government claims to have fixed the value of one PTR at $60, the market price on LocalBitcoins is reported to be only half of that. According to a Reddit thread, V..

Venezuelan Team Working on Bitcoin Mesh Network Based on Offline Radios

News A Venezuelan team is developing Locha, a decentralized mesh network that doesn’t rely on the internet to transact with Bitcoin (BTC). The system, based on radio waves, was born in response to frequent electricity and internet outages in Venezuela. Locha Mesh is an open-source project led by R..

Maduro Announces Crypto Casino in Support of Petro and Public

News Nicolas Maduro, president of Venezuela, announced on Friday the opening of a new crypto-run casino in a battered country where betting halls have all but gone extinct. A casino for reliefMaduro said Ávila National Park’s Hotel Humboldt will soon be home to an international casino that will o..

Maduro Orders State-Run Firm to Sell 4.5M Oil Barrels for Petro

News Venezuela will soon sell oil from reserves of a state-run oil and gas company for its national oil-pegged cryptocurrency, the Petro (PTR). Venezuelan President Nicolas Maduro has signed a decree to sell 4.5 million barrels of oil from the certified 30 million-barrel reserve maintained by Petr..

Crypto Community Eyes US–Iran Crisis As Tensions Flare

Analysis For one week, the Iran–United States military crisis gripped the crypto community. It began on Jan. 3 with a U.S. drone strike on a convoy traveling near Baghdad International Airport, killing Iranian major general Qasem Soleimani of the Islamic Revolutionary Guard Corps. The price of Bit..

Burger King Venezuela Starts Bitcoin Payments in First of 40 Stores

News Bitcoin (BTC) has come to Burger King in Venezuela as a new partnership opens up cryptocurrency payments at the fast-food chain. Confirmed in a tweet on Dec. 30, a single Burger King branch in the Sambil area of Caracas now accepts Bitcoin, along with altcoins Ether (ETH), Litecoin (LTC), Bin..

Venezuela, Argentina Set New Weekly P2P Bitcoin Trading Volume Records

News Bitcoin (BTC) weekly trading volumes on peer-to-peer (P2P) trading platform LocalBitcoins in Venezuela and Argentina have hit new all-time highs in their respective national currencies. Cryptocurrency data website CoinDance shows that LocalBitcoins trading volume in local fiat currency in Arg..

Venezuelan Bolivar Trading Volumes on LocalBitcoins Hits New Record High

News The volume of Venezuelan bolivars traded against Bitcoin (BTC) on the LocalBitcoins platform another all-time high last week amid rampant hyperinflation in the country. According to Bitcoin statistics website Coin Dance, bolivar volumes on peer-to-peer exchange LocalBitcoins exceeded 209 bill..

Christmas Bonus?: Maduro’s Gov’t Promises 8M Venezuelans Half a Petro Each

News Venezuelan President Nicolás Maduro announced that this week the government will pay half a Petro to Venezuelan retirees and public workers as Christmas bonus. With a total of 4,500,000 retirees and 3,500,000 public workers, Maduro said in a speech on Dec. 15 that he expects to deliver half a..

Venezuelan Despot Maduro Says He Has Oil Coming for Petro Cryptocurrency

When a nation acts out on the international stage, world powers can apply punitive pressure by leveling sanctions against the offender. The current Venezuelan government knows this dynamic well, as corruption and a humanitarian crisis under Venezuelan President Nicolás Maduro has led the U.S. and o..

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