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RE: Venezuela's New Cryptocurrency Is A Scam

in #bitcoin7 years ago

Of course this is merely an electronic turd and doesn't deserve the moniker "crypto currency" and any fool that purchases it deserves to lose every single cent invested. But the fact that it is coming from Venezuela is irrelevant for the most part and barrels of oil, or chucks of metal or any other sort of backing is meant only to confuse the uninformed. To be clear my first sentence applies to any government with a centrally planned economy, hence a national fiat currency associated with said economy. The reality is, the world is changing, governments see this, and they want to create the illusion that they are onboard with this change. Make no mistake, if a "crypto" is issued by a government and it not full decentralized it is not a crypto. It is a different format of the exact same fiat bullshit. Let's all call a spade a spade people.

So fine, Venezuela happens to be the first to launch their fake crypto, so be it. Some country had to be first, thank you Venezuela for stepping to the plate and initiating this particular phase in the evolution of the future of money. Plenty of other governments are on standby waiting to issue theirs as well. Stupid people will buy them and continue to propagate the fraudulent monetary systems of the host countries. The informed will buy legitimate cryptos and continue the good fight.

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They are on board with this changes! Make no mistakes, a big part of features can be moved to traditional financial system with little work: http://www.sepaforcorporates.com/sepa-payments/11-things-need-know-sepa-instant-payments/

This means instant, realtime fiat payments in all eurozone. Can be done ... now ... What about zero interest rates for any fiat credit!? CAN BE DONE NOW! Fiat money is not dead but as usual competition is a good thing even in the money world