RE: Petro's White Paper

Thanks for the analysis. I will add more important points that are not in your introduction of Petro:

• Petro is not a decentralized currency: The Petro is based on the promise of a government to exchange it against natural resources. The value of the Petro therefore comes from its centralized element.
• To trust the Petro you have to trust the Venezuelan Government. This is the government that already blew up their currency Bolivar so much that Venezuela experiences the highest inflation in the history of the planet. Thinking that the government will behave more prudently with the Petro is insane.
• Petro is actually not a currency but a forward sale of natural resources. The cost of it bears the people of Venezuela. If you buy the Petro you will contribute to keep an at least very questionable if not criminal regime alive with your money. So be aware of it.
• There are compulsory introductions into the Petro that state employees do have to participate in. State employees are almost forced to buy the Petro by shaming employees that do not support it. Think for yourself, what that will mean for trust in this currency.

There are a lot of indicators that should deter you from investing into the Petro. In may opinion it may even be the first state organized crypto scam.