Exciting new socialist cryptocurrency proving roughly as successful as you'd expect. https://www.reuters.com/article/us-cryptocurrency-venezuela-specialrepor/special-report-in-venezuela-new-cryptocurrency-is-nowhere-to-be-found-idUSKCN1LF15U …
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... Someone had to try and create the world's first hyperinflationary cryptocurrency, I guess.
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... It looks as if the big (implicit) idea with the Petro is to automatically de-incentivize development of the country's hydro-carbon reserves. ...
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... Rather than selling oil, you leave it in the ground as "backing" for a digital currency. A scam coin clearly wasn't destructive enough for these guys.
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If I'd gone longer on those furry doge-bucks I'd be buying Venezuela outright about now.
5:53 AM - 2 Sep 2018
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