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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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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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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Venezuela’s Currency Devalued By 96% as Maduro Announces New Crypto-Pegged Forex Rate

On Friday, Venezuelan President Nicolas Maduro announced a new single exchange rate for the bolivar that’s pegged to the Petro virtual currency. Under the new guidelines, one Petro would equal $60 dollars, which means the nation’s currency is essentially devalued by 96 percent.

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Venezuela Nationalizes Petro, Will Introduce Crypto-Based Salary System for Workers

Venezuelan President Nicolas Maduro recently revealed that the nation’s oil-backed cryptocurrency, the petro, will be used as a unit of account by the state oil company PDVSA.

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Venezuela is Set to Use its Controversial Petro Cryptocurrency as an Official Accounting Unit

Petro cryptocurrency is to receive an official status of the Venezuelan second official currency, which is believed to be a tool for overcoming economic difficulties. The post Venezuela is Set to Use its Controversial Petro Cryptocurrency as an Official Accounting Unit appeared first on CoinSpeaker.

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Venezuela Ties Own Currency to Sanctioned Petro as Maduro Talks of ‘Great Hope’

Venezuela will remove five zeros from its ailing currency, the bolivar, and peg it to its controversial Petro cryptocurrency, President Nicolas Maduro said in a public broadcast July 26. Maduro: Bolivar Will ‘Anchor Petro’ The Bolivar, which had become so inflationary that online gaming tokens such as World of Warcraft gold were a more stable store of value, is currently worth just $0.

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Iran Considers State-Issued Cryptocurrency Ahead of Imminent US Sanctions

Iran might soon take a page out of Venezuela’s playbook by launching its own state-issued cryptocurrency. The move is occasioned by the fact that the country is set to come under renewed economic sanctions from the United States.

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Venezuela To Have a New Fiat Currency Anchored To Cryptocurrency Petro

A few hours ago, the president of Venezuela, Nicolas Maduro Moros, made a television announcement to the country in which he revealed new economic policies framed in what he described as a comprehensive plan to restore the country’s financial stability.

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“Economic Sovereignty” Through Bitcoin: Max Keiser and Stacy Herbert

When it comes to cryptocurrency, it seems that there are always two sides of the (bit)coin. On the negative side, there’s everything that can go wrong.

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Cryptocurrencies Provide Humanitarian Aid to Conflict-Ridden Venezuela

The appalling economic crisis in Venezuela serves as a robust litmus test of peer-to-peer digital currency transfer mechanisms. Ongoing crypto aid efforts must be encouraged to help a “dire humanitarian situation.

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Cryptocurrencies Defeat Corruption in Venezuela: Reddit User Purchases Food for Community with NANO Donations

Although cryptocurrencies are widely regarded as a lucrative investment vehicle, it is easy to forget the original function of the decentralized assets: that of being a store-of-value quarantined from corruption and state interference.

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EU’s Report on Cryptocurrencies: Says Officials “Should Not Ignore” Them

The EU’s Policy Department for Economic, Scientific and Quality of Life Policies released a report entitled “Virtual currencies and central banks monetary policy: challenges ahead.

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A Plan to Send Millions in Bitcoin to Venezuela Is Moving Ahead

Developer Jonathan Wheeler plans to airdrop bitcoin across Venezuela, in an ambitious attempt at quelling the country's ongoing economic crisis.

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Banks and Cryptocarrens Global Assessment: Middle East

As many advocate to replace the U. S. dollar as the global reserve currency, Bitcoin and nationalized cryptocurrencies may finally offer Muslim countries economic stability and leeway in Western politics.

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