Petro

Is cryptocurrency becoming more mainstream? It could be if one of America’s most prominent game shows features an entire category devoted to it.The November...

“A lot of people are sending money to their relatives in Venezuela and they want a cut of that,” Venezuelan Eduardo Gómez tells Bitcoin Magazine in an interview.

As a Coinbase investor, Ohanian strongly believes that the instability of fiat currencies in economically crippled countries might pave the way for cryptocurrencies such as Dash and Bitcoin.

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. The government is also developing a new salary system that will allow employees to receive their wages in petro funds over fiat.

Bitcoin may still be king on the international scene, but in Venezuela, dash is vying for superiority.

The IMF predicts that, by the end of year, Venezuela will have experienced a GDP decline of nearly 50 percent since 2013.

2017 was a particularly confusing and uneasy year to mine cryptocurrency in Venezuela. 2018 is not much better.

With crushing debt and a starving population, the Maduro government in Venezuela is launching what it says is the world's first sovereign cryptocurrency.The cryptocurrency...