The Anti-Bitcoin: Venezuela imposes Petro on citizens

Venezuela is beginning to push the petroleum more and more. According to media reports, parts of the payments to pensioners have now been converted directly into petroleum – but without the consent of those involved. Maduro’s government is trying to further undermine the state’s political system. The Anti-Bitcoin.

Government converts ‚bonuses‘ directly into cryptosoft

As Characas Chronicles reports, the Venezuelan government has now begun to convert pension bonuses directly into cryptosoft – but without the consent of pensioners. Pensioners in Venezuela usually receive their monthly pension with a bonus that tries to absorb the country’s high inflation to some extent.

Normally people have to visit the official homepage of the country to get their pension (incl. bonus). But now, as Characas Chronicles further reports, the government has set up a new function: the savings plan. It provides for the bonuses to be converted directly into Petro. The citizens of the country can still exchange the currency back. But the function for this is difficult to find on the homepage – in combination with the rapid depreciation of the Bolivar, people have little opportunity not to use the „savings plan“.

Anti-Bitcoin: Totalitarian control through crypto trader

Ultimately, the government is exercising all that Bitcoin and other crypto trader currencies are opposed to the crypto trader review: centralized authoritarian control of money. Due to the high inflation rate, citizens are dependent on bonus payments. If these are now converted into Petro, Venezuelans will also be forced to use them. Since everything runs on a centralized government server, President Nicolas Maduro is creating a centralized economic control system. Petro, the anti-bitcoin.

According to Satoshi Nakamoto in the White Paper, Bitcoin is a decentralised peer-to-peer money system. Resting on a blockchain and circulating, the coins should in principle be available to everyone – without central control by banks and/or governments. According to the implicit ideological guiding principle, technology regulates issuance. What is currently happening in Venezuela turns all these principles upside down and creates the anti-bit coin with the petroleum.

For what officially praises itself as a rescue plan for a troubled economy and a suffering people is increasingly turning out to be the tool of a totalitarian regime. After it became increasingly clear in the course of the year that Venezuela was bleeding to death from the country’s crypto currency Petro, the government is now trying to win the Petro over the people.