CHEAP HOT ALT From Corrupt Dictator!

Venezuelan president Nicolás Maduro orders state companies to accept Petro. Controversial Ethereum proposal seeks to bail out frozen wallets like Parity. Bitcoin mining giant Bitmain is rumored to have made $3-4 BILLION in 2017, even more than NVidia. Study finds that 34,000 smart contracts have exploitable and easy to find errors.

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Doug Polk is a professional poker player and cryptocurrency enthusiast. Crypto News is the show to keep up with the latest trends and stories involving Bitcoin price, Ethereum, Litecoin, Ripple, IOTA, investing, analytics, and various altcoins.


50 replies
  1. Matt Hartley
    Matt Hartley says:

    I get how you can tie a crypto to dollars. You promise to redeem them for a dollar no matter what, and only print them when somebody gives you a dollar.

    How on earth do you do this with a commodity? Like, is Venezuela going to set aside a barrel every time somebody wants to buy some Petro? How exactly does one redeem it? Does Venezuela ship you crude oil on demand?

  2. Fredrick Prisca
    Fredrick Prisca says:

    if you are a newbie or a beginner in cryptocurrency and you are looking for a working strategy this is the man that helped me make good profit in a week using his mining software and he is really good with it….his name is Logan Shippy . I recommend his software for everyone. You can reach out to him via ( loganshippy93 @gmail . com) drop him a mail if you want to start making profit like me in just hours.

  3. scott hannant
    scott hannant says:

    Just curious, if venezuela's cryptocurrency fell on its face. Would they be willing to ship the barrels of oil that I am owed to Australia? If so will I have to pay postage?

  4. Juni LEE
    Juni LEE says:

    The vulnerability from codes in Ethereum is where Cardano comes in (amongst other innovations that the Cardano team is working on); where the codes can be "mathematically" tested/proven to do what they do, etc.

  5. Time Stamp
    Time Stamp says:

    What does 'backed by oil' mean? If the price of the crypto goes down, what does it have to do with oil? Must say however they're going in the right direction…

  6. Olivier Campos
    Olivier Campos says:

    Mate, keep it up, following for years and we both know you'll be the top 1 show presentator of decentralized TV. You have been choosen Doug, we both know it since you succed your 30 days/60days the workout challenge a few years ago 😉 Cheers for the content, you must put ages to make the videos…

  7. Mental Life Consultants
    Mental Life Consultants says:

    At the very least we can say it’s interesting. Well here would be playing Devils advocate…What happens if America developed a YANKEE Coin? The TRUMP Coin. Would you trust it? I can hear the slogan “ Freedom went digital”. They will show every race looking at their 💻 with a look of hope. I just wouldn’t want to invest in any Coin backed by a country. Wall Street never has the interest of the average American. Venezuela is doing what any of these other countries are thinking of doing but just haven’t done it yet. So it makes no sense getting all emotional about it. Buy it or don’t! I grew up on Rocky 4 and Rambo 3 when Russians were bad and Afghanistan were freedom fighters…LOL. Every decade someone is gonna choose your hero and villain. Choose your investments wisely and let me know how it goes!

  8. carlos Arredondo
    carlos Arredondo says:

    Do not buy Petro, i will briefly explain you why. I been living in the US for 13 yrs and i am from Venezuela a country with many minerals and wealth, Venezuela was once the richest country in latin America and the largest producer of oil in the world, boasting the largest oil reserve in the world, even more than Saudi aria. in 1998 dictator Hugo Chavez became president and started a socialist revolution in the country, by this time a huge demand from developing nation such as china, India and south Korea boosted oil prices and gave him the funds need it to pursued his economic strategy, this strategy prove to be inefficient in the long run, he funded social programs with oil money and he overspent trillions of dollars. Dictator and current president Nicolas Maduro follow in his footsteps. Corruption, restrictions on imports, and government regulations put the economy and downward spiral, his plans to transformed the country fail miserably and now Venezuela is in ruins. Twenty years later after this called revolution the oil infrastructure is fracture, some parts of Venezuela don’t have gas, wen went from producing 178 billions barrels in 2008, to less than 1 billion in 2017, this is not even enough to cover for Venezuela own consumption of oil. One Petro is back by one barrel of oil, there is no oil in being produce in Venezuela, not enough for the country and not enough to back this cryptocurrency. This is Venezuela second attempted in the cryptocurrency world to get some money to keep destroying a country that is already bleeding. Nicolas Maduro regime uses Venezuela’s wealth to buy its military and use it against its citizen, literally the military is killing civilians. Venezuela is dying of hunger, kids are dying of malnutrition, people are dying for lack of basic medicines, yesterday an elderly waited in line for two days to get his pension worth one dollar, but this elderly die of hunger before using his pension. Inflation is expected to reach 13000% this year and oil production is expected decrease 93000 barrels of oil per day. Buying this cryptocurrency will only worsen the situation in the country not to mention that there is no enough oil production to back it up, the fact that you can mine this currency makes this currency completely useless and obsolete. I am not and expert in cryptocurrency and this is only my opinion, do some research about Venezuela’s economy and make your decision.

    Great videos Dough, you are a funny dude!!!

  9. Daswassup
    Daswassup says:

    had to unsub after this, if id wanted to hear the same old propaganda against anything that conflicted usa interests, i wouldve just gone to the rest of the mainstream media for it, stick to crypto doug

  10. pete275
    pete275 says:

    "mining" doesn't mean emission, you could mine a blockchain that has no block reward, and if you do that you'd have to ask people to pretty please mine it for you because there's no incentive to mine it (other than to have a functioning blockchain). It's like if Bitcoin had no block reward, you'd still need miners to produce new blocks, but their incentive will be just so that the blockchain works (meaning so they can transfer tokens), that means the network wouldn't have the huge mining power it has today, it'd just be a few desktop computers

  11. joeyglees
    joeyglees says:

    I believe Quantstamp will be a decentralised erc20 smart contract code auditing service. May solve these issues you’re having with ethereum (but not the issues you’re having with your jokes 😉

  12. Guyape
    Guyape says:

    Anyone with a little bit of common sense would know Petro is a joke and the latest scheme of the Venezuelan government officials to line up their own pockets with money. It would be incredibly naive to think any of the proceeds will actually help the Venezuelan economy or benefit the people.

    Even then, for the sake of argument let's ignore all the blatant corruption and pretend you are not funding an oppressive dictatorship by investing in Petro. Just look at what the project is in THEIR own words. The coin is supposedly backed by oil, which Venezuela clearly has a lot of. First problem, do you think they are going to stop selling that oil now because it's supporting Petro? Are they gonna hold it in some sort of vault? Of course not, so every Petro they sell/mine/whatever is essentially Venezuela selling the same barrel twice. This is like a bank allowing you to spend the collateral you presented for a loan. Second problem, a ton of the Venezuelan oil is essentially owned by China and Russia. These countries have given Venezuela gigantic amounts of cash advances in the past in exchange for oil they haven't even extracted yet.

    Conclusion: Maduro is not only attempting to sell the same product twice, it is technically also not a product they own fully. This is the clearest money grabbing scheme in crypto and I won't feel bad for anyone that inevitably loses their money on this.


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