![Capture.PNG](https://res.cloudinary.com/hpiynhbhq/image/upload/v1519402801/j3efwrtuuvdow0ixym3k.png)
[Credits](https://i.ytimg.com/vi/i32TWIh3sCM/hqdefault.jpg)

Okay, so today I am going to share probably the weirdest thing you will hear all day in cryptocurrency. 

As you may have heard about Venezuela making their own cryptocurrency and what they planned on doing with it etc. Venezuela's president Nicolas Maduro has pretty much ordered every single thing in the country to accept not only the country's own cryptocurrency called the Petro which was launched I believe two days ago or like soft-launched but also accept any cryptocurrency that's out there and this is also even weirder is that before when we first learned about the country's cryptocurrency called the Petro, it was supposed to be backed by the country's oil reserves as well as the country's gold, silver and platinum reserves. Now he has stated that he's going to launch another cryptocurrency and this one will be backed exclusively by gold because apparently, he has seen the success that the first coin has had.

He has literally stated that he's going to try and find a way or has pretty much mandated that every single thing within the country not must be paid for but you are supposed to lean towards this as much as possible to pay for everything within the country's cryptocurrency as well as finding the way whenever they have any type of tourists going to the country that they are able to pay for any type of cryptocurrency.
<center>![w.PNG](https://res.cloudinary.com/hpiynhbhq/image/upload/v1519401301/xr1qxvbxlqk21mxrygvd.png)</center>
<center>[Credits](https://cdn.ethnews.com/images/2048x1024/Venezuela-Moves-Up-Petro-Pre-Sale-Date-Announces-Mining-Plans-02-01-2018-2048x1024.jpg)</center>


This is very weird for a number of reasons because first them creating their own cryptocurrency was already something insane and now he wanting to create a second one, that's like the dollar and the double dollar existing at the same time in America but also saying that the country should accept any type of cryptocurrency (I think this part is great). We have never heard anything like this from a country so it's kind of weird and kind of shocking at the exact same time because this is something that we wanted but I think kind of not this way, it's kind of amazing and at the same time weird too.

I don't know how this is going to affect the markets or what coins they'll be leaning towards because you can't accept 1500 coins that's not possible, no one's going to have 1500 apps on their phone or whatever the case may be inside of whichever store in order to accept all of these things.

Let's see how exactly this plays out within the next couple of weeks. If they end up backtracking or end up doing the second coin or whatever happens but the fact that they want to accept any cryptocurrency is going to be very very odd and especially what happens when Bitcoins and Etherium and may be other coins are also accepted within the country like what did that actually have any type of impact on the price as people are now encouraged to use these, this is very very interesting.
<center>![f.PNG](https://res.cloudinary.com/hpiynhbhq/image/upload/v1519401708/nmejmnfjy62jaupnimap.png)</center>
<center>[Credits](https://www.verdict.co.uk/wp-content/uploads/2017/11/shutterstock_644918824.jpg)</center>

Iran has also said that they want to create their own cryptocurrency and it seems that they have decided to also possibly go ahead with plans to create their own cryptocurrency because I believe they are also under sanctions by the United States and there are a lot of other countries who are also under sanctions from the US and they are kind of all banding together realizing that the crypto might be their way to get out of it.

So let's see what are these countries bringing in the coming future, but yeah if they really did what they are saying or thinking about, then it would indeed be really much good and kind of a booster for the markets on cryptocurrencies.

What you guys think about this? Don't forget to share your views.

Thanks

<center>![ezgif.com-video-to-gif.gif](https://res.cloudinary.com/hpiynhbhq/image/upload/v1519402863/qh24eeuvpo7ddzwkl0kv.gif)</center>

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