Can anyone buy? Would you buy? Or is it something you should avoid? https://oilprice.com/Latest-Energy-...nches-El-Petro-Oil-Backed-Cryptocurrency.html
raised 735M... not bad for IPO... buyers are probably drug dealers (and buyers).....everyone is a WINNER! https://www.9news.com.au/world/2018/02/22/05/11/venezuela-cryptocurrency-raises-us735m
where did the 735 mil come from? more raping of the venezuelan people. a gov backed centralised crypto, what could go wrong?
I guess this should be back on the front page as changes are big enough to take another look at. Is it going to go through the roof or flounder?
We are choofed to have guessed that 'e-fiats' would be a thing. It goes back to the screaming matches in 2013 about the nature of money. At that time, the 'libertarian definition' of a crypto certainly included the notion that the supply was fixed. (At that time, the QE train to Krazee Town still gathering pace.) We cynically said, 'Well, plenty of 'paper dollars' are in fact electronic. So it's just not true that cryptos aren't money because they're not physical! So what if a nation that had publicly exhausted its citizens' trust in 'paper currency' simply launched a non-physical currency in tandem to its paper currency? Dang! They could QE the living daylights out of that sucker until everyone realised they'd been diddled!' Anyway, stay tuned, campers, we're gonna see mobs of these Franken-currencies lurching about, killing the villagers.
I don't know where this crypto is being sold or bought. I guess most people don't understand anyway. Prolly most investors, most SilverStackers members have no idea, but even less people in Venezuela... An investment that's too complicated to buy or sell, is "good for nothing". At current stage cryptos are like complex IT assets which most people can't understand. They're worse than stocks, bonds, ETF's... "Keep it simple" should be part of the recipe. Fiat is simple, gold is simple, land is simple...
'I don't know where this crypto is being sold or bought.' Tee hee It sure is elusive! If anyone finds any right-up-to-date articles on the currency situation in Vz, please post them here.