The Truth about the Venezuelan Petro- Maduro crypto control scheme! This week in Bitcoin preview!

November 30, 2019

Hello everyone this is Adam Meister the
BitcoinMeister the disrupt meister welcome to the this week in bitcoin
preview show yes you’re gonna get a quick twelve mini clip that’s gonna get
you interested in the main this week in bitcoin show that’s coming up on friday
at its usual time we’ve got two guests of venezuelan heritage what is actually
in venezuela this clip is going to be all about the petrol and the control and
how the government is getting away with printing their own cryptocurrency
they’ll inflate it just like the Bulevar pound that like button this is really
good insider information venezuela petrol pound that like button watch it
no I just gotta say it like to have years point growing up there and Xavier
can attest to this the Venezuelan government’s main job as far as I’ve
been around the way they’ve managed to stay power for so long is confusion
confusion confusion confuse the people and the Javier’s point no you have
companies like you know like ourselves like satoshi Venezuela like you know air
TM there’s like there’s coinbase trying to send money to Venezuela like
everyone’s trying to help bitter so that through Bitcoin and air drops and all
these things and they’re you know in the people outside they’re looking at media
they’re looking at Twitter that okay this is a this is a you know futuristic
technology that that has like some benefits for its whele and along comes
the government and sequester’s that narrative and says oh yeah of course the
system’s gonna help us and guess what we made it better
here’s the petrol and the people are going to start using the petrol and the
pressure is gonna go to crap and and when people are looking the pedra and
they’re gonna say what is this crypto thing this crypto thing sacks well I’m
not and the government’s gonna say listen this isn’t our fault like we were
trying our best this crypto thing isn’t really what it’s made out to be
we’re just gonna wait we wouldn’t gonna find the next thing and people are gonna
be like oh the government tried their hardest and that’s really like that what
we’re up against Xavier what is the picked as the picture actually exists
what’s going on down there well hello Adam thanks for having me
here and yeah yeah the petrol actually exist but not like you know like Bitcoin
that kind of existence or like to mark a dystopian tool and government tool to
controllers so yeah it’s it’s but is a little pain you know who what’s the dope
on top of obviously it’s centralized and it’s there to keep track of you I mean
do you have it in your possession actually have you actually played around
with it at all Oh personally I don’t have any petrol so the approach that I
have is because some friends of my half a little portion of petrol so I can know
how their they are using it like they’re receiving US government and bonuses so
is a little weird to have Petrus you you can hide in national exchange but we
don’t know those fellows you know the the CEO four of those it’s changed dumb
see don’t show their face in public you know and so can you use the petrol to
buy real things can you actually is it used as a medium of exchange yes and in
this in this point you know many things could be used as a medium of exchange so
we have the hot potato as the with a belieber and now we have a creeped a hot
potato with the petrol and maybe they will for first us to use it but you know
mmm to be a meeting of its chain Ethan isn’t enough to be named as a
cryptocurrency you know and is this is just a tool to control the economy of
the contrary to control in more powerful or more sophisticated way
over us but the one thing I try to look at things in a positive life like and
you just said the word sophistication if people learn how to use this thing to
use this petrol it’ll get them one step closer to Bitcoin right yes and as as a
Bitcoin become believer you know and I think that if people get familiar with
the use of the petrol and you know with wallets we exchange platforms maybe is a
new way to get in touch with Bitcoin because it’s the original one and I
don’t seeing that many people that will face that petrol is for control that
petrol is centralized it will keep the petrol as the main crypto acid no one
objective we will be working or trans transiting or moving to be swinging in a
while I don’t think that the people will keep the petrol as the main crypto asset
here as we don’t do it neither with the believer now is it worth more than a
bowl or a petrol yes a petrol worth like 660 yes dollars then isn’t this keeping
Maduro in power longer he’s able to print his own cryptocurrency that’s
extended yeah so it’s working it’s working
what’d he say unbelievable this is the power of cryptocurrency without town
that like button Mauricio your thoughts on this situation I mean I largely agree with Javier I’ve
seen the petrol I want to say so the petrous had two versions of the white
paper the first iteration of it actually there’s been material changes between
one and the other and I want to basically tell you a little bit about my
research up to now because in preparation for this I basically did a
lot of digging trying to essentially get my hands on potentially instance of
petrol no door which figure out which blocks train the petrol was running on
and try to get some get some visibility or some wallets so the first first of
all start with the white paper so the first white paper was stipulated as a
near c20 token and it was backed by a finite number of barrels with a
specified field as the reserves the second version of the white paper then
went on to say it would be on the NAMM blockchain and that it would be that it
would be backed by a basket of commodities that the government could
choose and replace at any one time and that you have to basically trust the
Venezuelan government today it’s very very hard to basically check or verify
anything on the petrol blockchain as a whole I I do see that I have confirmed
the same way xavier has that people have transacted in it and then you can see
some you know transactions that you can see the the transactions debit and
credit it in in the blockchain I myself haven’t been able to get there because I
think it’s very important for us to keep track of the issuance schedule for this
because if this is on actual blockchain they’re basically shooting themselves in
the foot because now we’re gonna be able to track everything governor every mayor
every you know every person who actually gets these petros corrupt as they may be
which they will be we are now actually gonna have some visibility on their
corruption which is beautiful and I actually don’t think they actually know
that this is gonna happen or they’re not quite aware that this is actually the
case with the blockchain but they so to your point that the point that you just
made exactly this is a control tool and this is a in my view and the view of
other Venezuela’s this is a way and it says it in the way
and an actual law decrees the petrol into being there’s some very interesting
quotes and points that essentially says that the Sunna creep which is the end
the entity that regulates the petrol and the issuance sits outside the central
bank and only has a requirement to collaborate with the central bank to
talk about the petrol and the issues of the petrol so Malouda has now a way to
bypass the central bank to print crypto to print actually like worthless funds
that now don’t even have to be printed with actual ink and paper and they could
just make it into be a with with the click and send that to his money so he
already started air-dropping things he already started having like these text
shows tech fairs which was the reason for my original tweet that you quoted at
the beginning was him walking around and this call it like consensus like
Venezuelan petrol you know a trade show and there were some people who obviously
the minister there’s a lot of hungry entrepreneurs a lot of come side rats a
lot of people that are looking at them and not a lot of people have the
opportunity to get on a plane and we establish themselves elsewhere and so
they see in this a way to get a grant they see in this a way to get a you know
angel funding for their business and they can build this trade tact and you
know given the resources and the options that they have it’s you know I don’t I’m
not surprised that you’re constantly gonna have people that are gonna be
willing to do this but yeah that’s really I mean I’ll stop I’ll stop there
because I you know we can go about this forever but that’s really kind of my my
two cents it’s better than the boulevard I mean it’s a again unfortunately it’s
working it’s strengthening the regime and people are getting uh you know
they’re hungry young entrepreneurs out there you’re not going to do anything
with the boulevard why not do this if they’re giving it away for free and
there seems like there’s there’s opportunity ah
wow that is a very very interesting situation I really haven’t heard all
this yet so I’m reacting you you can see Xavier did you have any any thoughts on
on what mauricio just setting anything to add to
the situation and I mean where do you see this ending where do you see it
going progressing too well yes mmm that was a kind of you know crypto heaven
with many entrepreneurs of the Venezuelan crypto movement like yeah
they shaking hands with the dictator and receiving credit in petrol or you know
smiling and giving him a Tresor like a gift that like you know I sent a tweet
about that and dresser after that publishes an official
statement about that they’re not linking with anybody on that crypto heaven and
this is very weird you know we we are pushing Bitcoin as an option talking
with people about Bitcoin about how it could help us citizens to overcome these
authoritarian government and then they are pushing their own narrative like
crypto will save us crypto is the new way to liberate our economy to defeat
Trump you know they are pushing a crypt narrative that could help us to maintain
the power you know that the ultimate goal of the government is just all the
power and well Kiki porcine keepers b-roll and control it

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