How much is really the price of Petro?

The price of oil a few days ago played for the first time in the history negative levels. But, the Petro remained immovable why? How much is really the price of Petro? As we know, the Petro is the first criptomoneda state of humanity. Created by the government of Nicolas Maduro in Venezuela, with the intention of ending the attacks on the bolivar, thanks to the alleged “economic war”. Although it was reformed an infinite number of times before its launch, and a few accounts after your staging, the Petro does not have the transparency that many of us wish we could.

What we know of the value of the Petro?

What says your White Paper, it really is at the same time much, as at the same time nothing. In this we can denote that its intrinsic value will be supported by the prices of the venezuelan basket of crude oil. While the executive expressed some years ago, and since then has maintained this thesis, that the value of the Petro is not based solely on the price of oil, but also in the price of gold and diamonds. Venezuela is well known for having oil reserves largest in the world. And, recently, thanks to the destruction of the national petroleum sector, the government has had to seek other sources of funding, as is the case of the massive exploitation of the mines of gold and diamonds. This has generated has been discovered some of the lands gold and diamantíferas more lucrative today. And some of the reserves of these precious minerals that could compete with the south african. For its part, the Petro is sustained, as we said, the reservations of these 3 minerals. But, all this has a fundamental problem, that it seems no one took into consideration. It is well known that the “real value” of the minerals that are still found in the subsoil is zero (0), does not exist. Why? Something cannot have value if it has not yet been extracted, transformed, transported and put on sale. In addition, it is virtually impossible for you to buy 1 Petro, and can claim its equivalent in diamonds. So, this would mean that the real value of each Petro is zero. That, without counting with the lack of confidence that exists around this “crypto” state.

Why the price of Petro has not changed?

The answer to this question is simple, no one knows. The only possible explanation that exists is that in real life, the Petro is not anchored to any value of nothing, but that is a political tool of the government of Nicolas Maduro. Therefore, its price is, and always has been, fully discretionary, to be chosen to the convenience of political power. Currently the price of each Petro is $58,71, by official media. You can get a great discount on LocalBitcoins.com. And, although it has experienced variations in the last few days, has not been as strong as it was the fall of oil prices WTI, which lost more than 300% of its value, and today is around $12. Assuming that the price of Petro is not discretionary, a response could be due to that it is also based on the value of the diamonds and the gold.

Will the gold and the diamonds prevented the fall?

The price of gold, on the other hand, has had a behavior constant, with a fall of its value just days before the price of oil is off the precipice. Variation in the price of gold could not keep the price of Petro constant. But, this shows us that any variation of the price of the troy ounce of gold was not what I was able to keep the price of Petro constant. Now, let’s turn to the price of diamonds. And here the thing is complicated, since, unlike other minerals, there is a single price of these precious stones. But, what is understood is that the prices of these goods tend not to vary much in time. So neither can be the cause that the prices of the Petro it to remain stable. Then, we can come to the following conclusion: there is the possibility that within these 3 minerals, oil is the one that has less weight when calculating the value of the Petro, almost tending to 0. How can this be true? What do you think? What is the price of Petro calculated using the interest of the dictatorship of Maduro, or really there is a way, hitherto unknown, calculate its value?

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