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RE: Venezuela's New Cryptocurrency Is A Scam

in #bitcoin7 years ago (edited)

It's more complicated than that.

Petro=Debt-based Money laundering coin. The government will probably get the funds they need to launch the coin and stuff. Actually they will launch "Petro-gold", as a coin that will be supported with the gold reserves in the country. The thing is that main investors will probably be druglords and people that enriched themselves with corruption. Now, we have to aware honest people that are thinking about investing in it:

If Maduro regime falls or the world sanctions deepen more, these people's funds will be hurt.