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Enter the 'petro': Venezuela to launch oil-backed cryptocurrency
Reuters ^
| December 3, 2017
| Alexandra Ulmer, Deisy Buitrago
Posted on 12/03/2017 4:08:56 PM PST by mdittmar
click here to read article
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1
posted on
12/03/2017 4:08:56 PM PST
by
mdittmar
To: mdittmar
All your links are to You Tube tunes. You have no link to the actual article.
2
posted on
12/03/2017 4:11:49 PM PST
by
Publius
("Who is John Galt?" by Billthedrill and Publius available at Amazon.)
To: mdittmar
Why not tie it to the Venezuelan bolivar? /s
3
posted on
12/03/2017 4:12:32 PM PST
by
House Atreides
(BOYCOTT the NFL, its products and players 100% - PERMANENTLY)
To: mdittmar
Isn’t crypto currency capitalism?
Maduro and his regime won’t be able to create a blockchain technology to compete with Bitcoin.
Imho.
5.56mm
4
posted on
12/03/2017 4:12:49 PM PST
by
M Kehoe
To: mdittmar
Venezuelan cryptocurrency? What could go wrong?
5
posted on
12/03/2017 4:15:06 PM PST
by
COBOL2Java
(John McCain treats GOP voters like he treated his first wife)
To: Publius
I made a boo boo,hopefully the mods fix it.
6
posted on
12/03/2017 4:17:19 PM PST
by
mdittmar
To: COBOL2Java
7
posted on
12/03/2017 4:20:28 PM PST
by
bar sin·is·ter
(Climate Scientology - another example of science fiction morphing into a religious cult)
To: mdittmar
Amazing, a communist resorting to capitalism to avoid consequences for his destruction of money
This is typical. I have met a lot of leftists who vote for Obamacare and do all they can to avoid that system, starting with the craven parasites called Congressional aids
8
posted on
12/03/2017 4:23:18 PM PST
by
JudgemAll
(Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucifiedc)
To: mdittmar
Oil reserves - high sulfur tar that they can’t get out of the ground. Production is about half of what it was before nationalization.
9
posted on
12/03/2017 4:28:54 PM PST
by
PAR35
To: mdittmar
All you blockchain are belong to us!
10
posted on
12/03/2017 4:36:16 PM PST
by
E. Pluribus Unum
(<img src="http://i.imgur.com/WukZwJP.gif" width=800>)
To: mdittmar
How does a digital currency work in a country with so many problems providing electricity? Will you store your digital currency by using Bolivars with holes in it like punch cards?
11
posted on
12/03/2017 4:44:37 PM PST
by
KarlInOhio
(The Whig Party died when it fled the great fight of its century. Ditto for the Republicans now.)
To: mdittmar
Personally I like the idea of a currency based on these. I've liked them ever since they were introduced at the 1982 World's Fair.
12
posted on
12/03/2017 4:56:19 PM PST
by
deoetdoctrinae
(Donate monthly and end FReepathons.)
To: deoetdoctrinae
Petros.
Today they’re worth $1 US.
Tomorrow they’ll be worth $10,000 VZ.
13
posted on
12/03/2017 5:28:43 PM PST
by
lurk
To: mdittmar
I think there is a typo in the headline?
Should read:
Venezuela to launch oil-backed kleptocurrency
14
posted on
12/03/2017 5:44:16 PM PST
by
DUMBGRUNT
(This Space for Rent)
To: mdittmar
It can only be oil-backed if it’s actually backed by oil - which if Venezuela could actually produce in sufficient amounts, such wouldn’t be needed.
And if V could produce a string crypto currency, oil backing wouldn’t be needed.
Any predictions on how many weeks until this collapses, either by inability to exchange for oil on demand, or by the crypto being cracked?
15
posted on
12/03/2017 7:10:05 PM PST
by
ctdonath2
(It's not "white privilege", it's "Puritan work ethic". Behavior begets consequences.)
To: PAR35
Thee are (or were) only 2 places that could deal with - refine -the heavy oil sold by Ven. One was the US.
The other, China.
16
posted on
12/03/2017 7:27:43 PM PST
by
ASOC
(Having humility really means one is rarely humiliated)
To: mdittmar
I’m here to announce my new currency, the Celero.
I couldn’t make enough “Dollars” so instead I’ve fired up Photoshop and my Epson printer to bring to you a new currency - the Celero.
This is better than Turkey just “removing zeros”.
17
posted on
12/03/2017 7:51:36 PM PST
by
Celerity
To: mdittmar
a paper currency claimed to be “backed” by ANYTHING in a dictatorship isn’t worth the paper it’s printed on ...
18
posted on
12/03/2017 8:15:11 PM PST
by
catnipman
( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
To: mdittmar
“He could now be seeking to pay bondholders and foreign creditors in the [fake ‘petro’] currency amid a plan to restructure the country’s major debt burden, opposition leaders said, but the plan is likely to flop.”
Why not just use Monopoly money to pay off the bonds? After all, it’s probably much more accpetable than the ‘petro’ ...
19
posted on
12/03/2017 8:22:13 PM PST
by
catnipman
( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
To: Celerity
“the Celero.”
“backed” by celery, no doubt ...
20
posted on
12/03/2017 8:26:25 PM PST
by
catnipman
( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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