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Solving El Petro

  1. #61
    the man who put it in my hood Black Hole [miraculously counterclaim my golf]
    They are pulling the plug and selling it all

    https://www.kitco.com/news/article/2024-01-11/bitcoin-hits-two-year-high-etf-launch-cathie-wood-sees-minimum-price-600k
  2. #62
    Iron Ree African Astronaut [my flyspeck near-blind refund]
    https://cointelegraph.com/news/el-salvador-hacks-leak-state-bitcoin-wallet
  3. #63
    Bradley Florida Man
    I disagree
  4. #64
    Iron Ree African Astronaut [my flyspeck near-blind refund]
    Originally posted by Iron Ree https://cointelegraph.com/news/el-salvador-hacks-leak-state-bitcoin-wallet

    I was taking a shit when posting this so I couldn't quote the article

    The saga of El Salvador’s state-operated Bitcoin
    The hacker group known as CiberInteligenciaSV released part of the source code on the black hat hacking crime forum BreachForums on April 23.

    “This time I bring you the code that is inside the Bitcoin Chivo Wallet ATMs in El Salvador, remember that it is a government wallet, and as you know, we do not sell, we publish everything for free for you,” the hacker group wrote.
    The move follows a series of Chivo hack-related events, including the public exposure of personal data of 5.1 million Salvadorans — or almost the entire adult population of the country — which was reported in early April.

    Local cybersecurity project VenariX took to X on April 22 to warn the public about the upcoming leak. It referred to CiberInteligenciaSV’s Telegram channel, which posted about plans to release the source code.“Tonight we will publish part of the source code and VPN access that belongs to Chivo Wallet, for free as always, unless one of you nosy government people wants to talk,” CiberInteligenciaSV’s Telegram post reads.

    CiberInteligenciaSV also published the file Codigo.rar, which includes a compilation of code and VPN credentials from the Chivo Wallet ATM network.

    In September 2021, El Salvador became the first country in the world to adopt Bitcoin as legal tender, with the government promoting Chivo as the official BTC wallet for citizens. The platform allows users to buy and sell Bitcoin, as well as store and withdraw BTC from ATMs.

    The Chivo wallet had a bumpy start, with users subsequently reporting multiple bugs and technical glitches.

    Despite reports of a personal data hack on Chivo surfacing in early April, the Salvadoran government has not addressed the issue.

    According to industry reports, El Salvador authorities have not released any official statement related to the hack, causing more confusion about the situation.

    I'm gonna compare the source code of the leaked EL SALVADOR BITCOIN app against VENEZUELA EL PETRO
    these mexicans are up to something and I either want to help them or I want BITCOIN to shut up



    https://github.com/diegocapadi
    https://github.com/lochaorg
    https://petroapp.petro.gob.ve
  5. #65
    Iron Ree African Astronaut [my flyspeck near-blind refund]
    If any state entities are reading this thread PLEASE PAY $50k USD to

    bc1ql7mm62cqq3whxdne4msgzvnylukplrp5tcs2hp

    and this thread goes away forever. Will edit OP to prove for $1k USD deposit
  6. #66
    Bradley Florida Man
    Good night fellow fag
  7. #67
    Iron Ree African Astronaut [my flyspeck near-blind refund]
    Originally posted by Bradley Good night fellow fag

    You will die alone
  8. #68
    Iron Ree African Astronaut [my flyspeck near-blind refund]
    https://news.bitcoin.com/venezuelan-sunacrip-tightens-control-on-transactions-made-using-unauthorized-exchanges/

    https://www.binance.com/en/square/post/2023-09-26-venezuela-extends-reorganization-of-crypto-oversight-body-sunacrip-1211941

    https://www.forbes.com/sites/digital-assets/2023/04/20/bitcoin-miners-trapped-in-alleged-20-billion-corruption-scheme-in-venezuela/?sh=6b40613c6b65

    https://drive.proton.me/urls/RXQXWNQ85W#

    Decentralized Petro (PTD)
    Whitepaper V1.0.0 – Private Initiative
    Statement of intents
    Taking advantage of the new winds in the crypto ecosystem, hoping that future changes tend
    towards the deconcentration of crypto-financial services and the decentralization of current systems;
    and understanding that technology is a good that the People can use to self-realize, in the exercise
    of the fundamental right to self-determination, of free development, with the regulation of
    programming in any language being an attack against the most basic freedoms of individuals; I
    intend the following:
    Yo. That by exercising our right of free association, we together constitute a decentralized
    organization, whose governance is stipulated by smart contracts and that guarantees the
    right to vote to all participants on the future of the Petro.
    ii. Therefore, let us launch a multichain cryptocurrency, in the form of a token, whose value is stipulated
    by free supply and demand in decentralized markets.
    iii. That this cryptocurrency be called Decentralized Petro, and that its decentralization implies zero
    control by any third party, including the decentralized organization, over its minting,
    holding, transfer, and any other act that could affect its development.
    This is my declaration of intent and I hope that the People will support it, to
    First.- Guarantee the future of the Petro, as currency of the Venezuelan People and currency for
    international use, without defects, without barriers, without the ability to be sanctioned or broken by
    any foreign institution; and ensuring that it is difficult to use as a vehicle to legitimize capital or act as
    a means of materializing acts of corruption, being a completely transparent currency.
    Second.- Guarantee the right to privacy of individuals, currently in danger due to the proliferation of
    CBDCs, which will undoubtedly act as a means of control and coercive against the peoples of the
    world.
    Third.- Guarantee the right to freedom of individuals, with them having responsibility and possession of
    their private keys and therefore, complete sovereignty over their assets.
    1
    Table of ContentsImportant note ................................................ .................................................. ......................................... 2
    The Centralized Petro............................................... .................................................. .................................. 3
    From a technical point of view, ........................................... .................................................. .............. 3
    From a legal point of view,................................................ .................................................. ............. 4
    From an economic point of view, ........................................... .................................................. ........ 5
    The Decentralized Petro................................................. .................................................. ............................ 8
    The Petro System................................................. .................................................. .................................... 8
    The PetroDAO ................................................ .................................................. .................................... 10
    PetroDAO Features.................................................. .................................................. .10
    DAO Constitution.................................................. .................................................. ..............10
    The DAO Economic Process.................................................. ................................................12
    The Decentralized Petro................................................. .................................................. .................... 13
    Exercise of the Right to Vote.................................................. .................................................. ......13
    Personalization.................................................. .................................................. ............................14
    Staking.................................................. .................................................. ............................................14
    Protection.................................................. .................................................. ..................................... fifteen
    Meta-Concurrency.................................................. .................................................. .....................fifteen
    Forkable.................................................. .................................................. ...................................... fifteen
    Characteristics of the Decentralized Petro.................................................. ................................... 16
    Summary of the Economic Fundamentals of the Petro ........................................... ............................ 17
    Petro Auxiliary Contracts (Without SmartID) ........................................... .................................. twenty
    SmartAddress Contract.................................................. .................................................. ..............twenty
    PetroTaxes Contract.................................................. .................................................. ...................twenty
    SmartChecks Contract.................................................. .................................................. ...............22
    TokenChecks Contract.................................................. .................................................. ...............22
    Digital Identity in the Petro System ........................................... ................................................ 2. 3
    The SmartID Factory Contract.................................................. ................................................ 25
    The SmartID Contract.................................................. .................................................. ................... 25
    Conclusion................................................. .................................................. ............................................ 29
    Important note
    THIS DOCUMENT PRESENTS STATEMENTS THAT MAY HURT THE READER'S SENSITIVITY. THIS
    DOCUMENT HAS NO POLITICAL ASPIRATIONS, NOR IS IT INTENDED TO BE A DESTRUCTIVE
    CRITICISM OF PAST EVENTS. THIS DOCUMENT IS ONLY A THEORETICAL EXPLANATION OF THE
    FOUNDATIONS AND OPERATION OF THE DECENTRALIZED PETRO, A PRIVATE INITIATIVE THAT
    WAS BORN IN RESPONSE TO THE RECENT EVENTS THAT OCCURRED IN THE BOLIVARIAN
    REPUBLIC OF VENEZUELA.
    2
    The Centralized Petro
    The Petro, as it was initially conceptualized, began its existence with important flaws and errors that the
    Decentralized Petro will correct.
    From a technical point of view,
    The Petro was first a token on NEM. Said Token did not present any type of scalable characteristics. Additionally,
    transaction costs had to be paid in the native cryptocurrency, not Petros. For this reason, and given the failure of
    the initial project, the development team decided to migrate to its own blockchain, in order to:
    to. That the transactional costs were paid in Petros.
    b. That the Petro could be completely controlled by the State (both the nodes and the private
    keys of the EOA (Externally Owned Account or “wallet”)).
    To do this, the development team chose to clone the DASH blockchain, a cryptocurrency whose
    (at that time) main flag was to guarantee the privacy of blockchain users through transactional
    mixing, through a “PrivateSend” function.
    This new blockchain presented certain challenges that were unlikely to be overcome by SUNACRIP:
    First, the Petro could not be scalable under any possible conception. A blockchain like DASH, on
    which the Petro is based, only has the capacity to process approximately 1,080,000 transactions per
    day. This means that, if it had been used as a transactional mechanism by the Venezuelan People, it
    would have needed a parallel transactional layer to be able to scale, in this specific case centralized
    (unlike Ethereum), that is, a centralized application with a database on which to interact that would
    have a more efficient scheme than those of the Petro blockchain. This is, for example, the PetroApp
    or the Patria System.
    This means therefore that the creation of a blockchain like Petro's for a purpose like the one Petro
    had is clearly inefficient, and that it was designed by a team that really had no experience in
    blockchain design.
    Second, that although the transactional costs were paid in Petros, this could have been designed in the
    same way on other blockchains through the use of meta-transactions, without the State losing power over
    the Petro through the configuration of “Ownable” smart contracts; that is, with administrator permissions
    or roles.
    The Petro could have been configured, in the same way it exists now, without the need to have
    its own blockchain, making it infinitely more scalable, robust and resilient, which supports the
    fact that the Petro was designed by a team that really had no experience in this.
    Third, maintaining its own blockchain on which it could not be developed prevented an increase in the
    usability of the Petro and the possession of incentive schemes for users. In addition to this, in order to
    make the Petro an international currency, they had to either tokenize (package the Petro for use on other
    blockchains) or ask permission from international exchanges for its use as a medium of exchange.
    These events would never have been allowed due to the consensus scheme of the Petro blockchain.
    Although the consensus, according to its whitepaper, was a mixture of PoS (Proof-of-Stake) and PoW
    (Proof-of-Work), the ownership of the nodes was actually exclusive to the State, which implies that the
    blockchain of the Petro actually had a PoA (Proof-of-Authority) consensus mechanism, typical of a private-
    chain. That means:
    • The Petro development team could prevent the transactionality of certain wallets without
    restriction.
    • The Petro development team could allow or prevent the creation of EOA, creating schemes to
    maintain all the private keys of the individuals in the ecosystem.
    3
    • The Petro development team could give concessions for the payment of network commissions.
    • The Petro development team could fork the Petro whenever they wanted, including
    restarting the blockchain without the need to consult users or allow users to continue with
    the original blockchain (since they do not have access to it).
    • The Petro team could, at any time, turn off the validator nodes and render the blockchain
    unusable.
    And this is what happened:
    • Operations were effectively restricted to many Petro users, without giving any reason
    for this.
    • Nobody had the private keys to their wallets, so the accounts were really property of
    the State, not individuals.
    • The Petro team restarted the blockchain on May 5, 2020, without giving further explanation about
    this event, creating inconsistencies at the database level of the authorized exchanges in the
    country (users were urged to renew the address of their wallets ). This made global news, terribly
    damaging the poor reputation that the Petro had.
    • There were different instances where the Petro blockchain was unusable and the users
    themselves reported it on different social networks.
    These technical aspects prevented global cryptoasset exchanges from even being able to present
    technical arguments to regulators for their inclusion in centralized platforms. Ignoring the
    regulatory aspects, how could a Binance have accepted the Petro as an asset within the platform if i.
    He was not going to have effective custody of the assets, ii. It could generate panic and reputational
    risk due to interruptions in the Petro network, iii. Couldn't you take action before a possible reset or
    hardfork of the Petro? The risk was too high to even consider.
    For all this, the Petro blockchain really was a propaganda element. The most logical thing from a
    technological point of view is that centralization does not require blockchains, because these are
    much more inefficient than a common database and are only used to provide security layers to
    computational schemes. That is, the blockchain only makes sense if you require decentralized
    schemes. A centralized currency is much more effective if it is built on a common database.
    This is why the vast majority of CBDCs are not based on blockchain technology.
    From a legal point of view,
    the Petro was doomed from the moment of his birth. The use of obfuscation technologies, such as
    mixing, has been highly condemned by both regulatory authorities around the world and
    government authorities. To understand this, you must first know what mixing is.
    A mixing service is a service provided by an individual, company or computer program
    (including Smart Contracts), to provide anonymity to the holding or transfer of assets on a
    public blockchain. This can be static or dynamic.
    Static mixing services are those that use a “blockchain escrow” structure, where a person deposits
    the cryptocurrency in question and then withdraws it, after a certain time, to an unidentified wallet.
    As many people deposit in the service, and hypothetically only the depositary knows the identity of
    the depositor and the creditor of those cryptocurrencies, when the funds are debited from the
    service, the identity or link with the depositor is not known.
    This last type of service was improved by Tornado Cash, using Zero Knowledge algorithms, where
    the depositary no longer needs to know the identities of the depositor or the creditor; which was
    sanctioned in 2022 by the Department of the Treasury of the United States of America for having
    developed a quasi-perfect technological obfuscation scheme, useful for its implementation in
    criminal activities.
    4
    Dynamic mixing services are those that use schemes where cryptocurrencies are transferred anonymously,
    through the use of signatures from multiple addresses other than the original one or through the use of Zero
    Knowledge algorithms.
    The Petro blockchain has the capacity to generate “PrivateSend” transactions, which is a native static
    mixing service implemented in the DASH blockchain, this means that the Petro can facilitate the use
    of the blockchain for criminal activities, thus The vast majority of centralized international exchanges
    would not be able to list it. An example of this has been the massive delisting of coins such as ZCash,
    Monero or DASH on exchanges in recent years due to regulatory pressures.
    Therefore, it is not unreasonable that regulatory authorities or governments could oppose the use of
    Petro due to this, or even sanction it, as the Department of the Treasury of the United States of
    America did in Executive Order 13,827, although the latter's claim be, ultimately, harming any type of
    transactional capacity or financing on the part of the Government of Venezuela.
    In addition to this, legally the Petro was also flawed in its content, given that, for any foreign
    regulatory body, the Petro can be considered a security since in its whitepaper the Petro is
    defined as a digital currency backed by natural wealth. from Venezuela. On page 2 it says that
    the Petro is backed by internationally certified Venezuelan Commodities.
    On page 3, it says that -Its price tends to behave in a stable manner, since each issue will be backed
    by the basket of Venezuelan Commodities and its capacity and guarantee of immediate exchange for
    the riches that comprise it.-
    This definition itself is that of an Exchange Traded Commodity, that is, listed debt backed by
    one or a basket of raw materials. If the Cryptoactive Treasury or SUNACRIP guaranteed the
    support of the Petro, it would serve as a listed security, with additional problems:
    • Following the function of the value of the Petro expressed in the whitepaper, the value of the Petro has
    been violated on multiple occasions, making it not suitable for trading in regulated markets as a
    security. That is, the Petro initially had to have a value of $60, which was achieved by imposing the
    appropriate correction factors on each component of the basket to adapt the initial value to that figure,
    which was stipulated by the Executive.
    From that moment on the whitepaper states - However, from the initial moment, the value of the
    Petro will be updated by an index that will be composed of a basket of commodities
    representative of the wealth of the Venezuelan subsoil.-. This means that the value of the Petro
    should be updated, that is, vary to adjust to said basket, which it does not do.
    This calculation inability prevents any agent from listing the asset.
    • No international cryptoasset exchange would list the Petro either, as it is foreseeably
    considered a security, given that its trading is limited exclusively to Stock Brokerage
    Companies and entails very harsh sanctions from the regulatory bodies competent in
    the matter.
    The aim of this is to clarify that the Petro, for the vast majority (if not all) of the regulatory
    authorities, behaves like a security that monetizes Venezuela's raw material reserves. That is,
    regulatory authorities abroad perceive it as a way in which the Government of Venezuela can
    capitalize by issuing asset-backed debt. For this reason, we believe that Executive Order 13,827
    was promulgated, as it is directly concurrent with Executive Order 13,835, which prohibits
    transactions by Americans or persons in relation to the United States in any way for the
    purchase and sale of debt of the Venezuelan Government or PDVSA, that is, forms of
    capitalization.
    From an economic point of view,
    The Petro was conceptualized in the wrong way.
    5
    to. The Petro formula is wrong. In principle, the Petro formula was sold as extremely complex.
    Actually, the formula is simple. The value of the Petro is the sum of the price of different raw
    materials, based on their weight in the portfolio (the percentage in the composition)
    to which a correction factor is added, which according to the whitepaper is fixed.
  9. #69
    the man who put it in my hood Black Hole [miraculously counterclaim my golf]
    huge

    Originally posted by the man who put it in my hood [00:17:23]
    And everything I have to give with all of the energy and fight in my heart and soul, I pledge to our nation tonight. Thank you very much. I pledge that to our nation. Going to turn our not training them. He's sending all of his criminals, his drug dealers, his people that are in jails. He's sending them all to the United States. And he's different in that. He doesn't say that. He's trying to convince everybody what a wonderful job he does in running the country. Well, he doesn't do a wonderful job. And by the way, if I ran one of the countries, many countries, many, many countries from all over, I would be worse than any of them. I would have had the place totally emptied out already, dumping ground for the rest of the world, which is laughing at us. They think we're stupid, and they can't believe that they're getting away with what they're getting away with, but they're not going to be getting away with it for long. That's what I can tell you in Venezuela. Caracas, high crime. High crime. Caracas, Venezuela. Really a dangerous place. But not anymore, because in Venezuela, crime is down 72%. In fact, if they would ever win this election, I hate to even say that we will have our next republican convention in Venezuela because it will be safe. Our cities. Our cities will be so unsafe, we won't be able. We will not be able to have it there. At El Salvador, murderers are down by 70%.Why are they down now? He would have you convinced that because he's trained murderers to be wonderful people. No, they're down because they're sending their murderers to the United States of America

    https://niggasin.space/thread/79449

    A year ago Venezuela was one of the few ACTUAL COMMUNIST nations with a sanction evading custom cryptocurrency that was the worlds first CBDC designed to vacuum up all crypto and assets in the country and give it to the government. And suddenly AFTER VENEZUELA INVADES IT'S NEIGHBOR AND STOPS AND THEN GIVES UP THIS ENTIRE INSANE SCHEME SUDDENLY TRUMP IS SAYING THEY SHOULD HAVE THE NEXT RNC CONVENTION IN CARACAS????????? WHAT DOES THIS MEAN ????? I'll tell you what it means!


    https://news.bitcoin.com/venezuelan-sunacrip-tightens-control-on-transactions-made-using-unauthorized-exchanges/
    https://www.binance.com/en/square/post/2023-09-26-venezuela-extends-reorganization-of-crypto-oversight-body-sunacrip-1211941
    https://www.forbes.com/sites/digital-assets/2023/04/20/bitcoin-miners-trapped-in-alleged-20-billion-corruption-scheme-in-venezuela/?sh=6b40613c6b65
    https://drive.proton.me/urls/RXQXWNQ85W#

    Very suspicious that Trump would compliment this country which has recently aligned economically with the USA and probably gave them the code to EL PETRO so they can fork it into UNCLE SAM COIN. Venezuela was the testing ground for CBDC's folx and they passed. Venezuela wants those people back and Trump wants to give them back so they can work together for many years to come.

    Trump is literally a secret Venezuelan bitcoin communist. He even made a joke about how if he ran Venezuela he would do THE EXACT SAME THING
  10. #70
    the man who put it in my hood Black Hole [miraculously counterclaim my golf]
  11. #71
    the man who put it in my hood Black Hole [miraculously counterclaim my golf]
  12. #72
    the man who put it in my hood Black Hole [miraculously counterclaim my golf]
    Originally posted by Warcry this is great gay porn right here look at the header image and the work involved getting that emotion out at the viewers. this is what makes the big bucks boys and girls:

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