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| February 24, 2018

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Tekashi69 Fights Like a Bitch, Says UFC Champ Tyron Woodley

February 23, 2018 |

If Tekashi69 wants more static in the streets, dude’s gotta learn how to REALLY fight — because UFC champ Tyron Woodley says the brawl at LAX was straight-up “embarrassing.” Woodley broke down the fight on “The Hollywood Beatdown” — with special…

Iran Says He Killed Self in Prison, but Sons Don’t Buy It

February 23, 2018 |

Canadian-Iranian environmentalist Kavous Seyed Emami urged Iranians to push for the change they wanted, rather than accept the way things were. His liberal message resonated, but now his sons must take up the cause. Seyed Emami, a Canadian-Iranian, died in a high-security prison on Feb. 9, weeks after he was…


Blac Chyna Says Woman in New Sex Tape Sure Looks Like Her, But It’s Not

February 23, 2018 |

Blac Chyna says a new sex tape floating around featuring a woman who’s the spitting image of her is just that … a spitting image, but it ain’t her. An out of focus, 13-minute video surfaced online just a day after Chyna’s oral sex vid with…

Home sales fall as supply hits record low and prices rise, Realtors group says

February 22, 2018 |

Sales of existing homes in the U.S. fell in January from a year earlier by the most in more than three years. Would-be buyers were stymied by rising prices and a shortage of homes for sale.

The National Assn. of Realtors said Wednesday that sales dropped 3.2% from December to January, the second…

L.A. Times – Business

Sanders Says Russians Targeted His Supporters

February 22, 2018 |

Sen. Bernie Sanders says that in some ways, Robert Mueller’s report on Russian election meddling isn’t news to him—because he knew before the 2016 election that his supporters were being targeted by people seeking to “sow division within the American people.” Sanders tells the Des Moines Register that aides…

Kidnapped Model Was in on the Plot, Suspect Says

February 21, 2018 |

A Polish man charged with kidnapping a British model for ransom testified Wednesday that she agreed to the scheme in a bid to boost her career, denying his previous statements to investigators that he was trying to make money so he could seek treatment for leukemia. Lukasz Herba, testifying in…


Blac Chyna Says She’s Not Behind Leaked Sex Tape

February 21, 2018 |

Blac Chyna says her sex tape may be dirty, but she’s clean.  The video — which shows Chyna performing oral sex on a man — was leaked Monday on Twitter. Her ex-bf, Mechie, claims to be the man in the video. Sources close to Chyna tell TMZ…

Venezuela Says It Has Found ‘Kryptonite’ Against US

February 21, 2018 |

Cash-strapped Venezuela on Tuesday became the first country to launch its own version of bitcoin, a move President Nicolas Maduro celebrated as putting his country on the world’s technological forefront. In its first hours on the market, the so-called petro racked in $ 735 million worth in purchases, Maduro said, without…


Dozens of people were killed in Syrian airstrikes, a human rights group says

February 21, 2018 |

At least 71 people were killed and 325 others wounded in rebel-held Eastern Ghouta after the Syrian government carried out a series of airstrikes and artillery bombardments, the UK-based Syrian Observatory for Human Rights said Monday. – RSS Channel – World

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Has Raised $735 Million

February 21, 2018 |

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Now Available

Venezuela has announced that the pre-sale of its oil-backed cryptocurrency, the petro, has attracted $ 735 million on the first day. The government has also published a buyer’s manual and confirmed that buyers can use “hard currencies and cryptocurrencies, but not bolivars.”

Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten

Petro Pre-Sale Starts

The private pre-sale of Venezuela’s oil-backed cryptocurrency, the petro, was scheduled for February 20 at 8:30 am (Venezuela time 04:00 UTC), according to the petro’s whitepaper. However, at midnight local time on February 20, the government announced that the petro pre-sale had started and published a buyer’s manual as well as an anti-money laundering (AML) compliance manual.

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Now Available
Petro’s pre-sale launch event.

A total of 82.4 million petro tokens are offered for the pre-sale phase, the whitepaper details. The country’s vice president, Tareck El Aissami, confirmed from Miraflores Palace on Monday, “The petro cryptocurrency tokens can be purchased by Venezuelan nationals as well as other foreign nationals.”

The Superintendent of Cryptocurrencies, Carlos Vargas, was quoted by Telesur TV:

The presale and initial offer will be made in hard currencies and cryptocurrencies, but not bolivars…Our responsibility is to put (the petro) in the best hands and then a secondary market will appear.

Interested buyers can visit the Etherdelta platform to place private orders to the Ethereum address given by the Superintendent. However, at the time of this writing, no orders have been matched and no prices are displayed on the price chart. This could be due to technical glitches in the buying process such as a Javascript error which prevents users from completing their purchases.

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Now Available

According to the Minister for University Education, Science and Technology, Hugbel Roa, the traffic to the petro website “quintupled with the global announcement of the pre-sale of the Venezuelan cryptocurrency,” shortly after midnight local time.

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Now Available
Hugbel Roa’s traffic chart for the petro’s website.

Despite technical challenges, Venezuela’s president, Nicolas Maduro, claimed:

Venezuela had received $ 735 million in the first day of a pre-sale of the country’s “petro.”

Instructions to Buy the Petro

Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Now Available
Maduro announcing petro’s pre-sale.

“The only thing needed for the petro is to open a digital petro wallet,” according to the petro’s website. “Once opened, your wallet will generate an email address that you can share with anyone who wants to transfer PTR to your wallet. You will be able to receive and deposit your PTRs in this email address.”

The buyer’s manual details a step-by-step process of how to register and gain access to a petro wallet, which requires prospective buyers to download a zipped, self-deleting installation file. “The data package for the creation of the digital wallet is configured to self-destruct once the installation is complete,” the instructions warn.

Alongside the steps to register and install the petro wallet, the manual goes over protecting users’ private keys but stopped short of asking users to generate a public key, which would be needed for any kind of cryptocurrency deposit. More curiously, however, was the vague announcement regarding the use of the NEM blockchain:

The Blockchain launched by the Venezuelan State has robust security mechanisms since its programming elements are related to a technological platform called: NEM blockchain.

The cryptocurrency NEM, which uses centralized servers running closed-source code, has recently been in the news frequently following the hack of one of the largest Japanese crypto exchanges, Coincheck, which lost 58 billion yen (~USD$ 539 million) worth of the cryptocurrency.

Do you (still) want to buy the petro? Let us know in the comments section below.

Images courtesy of Shutterstock and the Venezuelan government.

Need to calculate your bitcoin holdings? Check our tools section.

The post Venezuela Says Pre-Sale of Oil-Backed Petro Cryptocurrency Has Raised $ 735 Million appeared first on Bitcoin News.

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