RE: Venezuela's New Cryptocurrency Is A Scam

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Venezuela's New Cryptocurrency Is A Scam

in bitcoin •  2 years ago 

I agree this is a scam coin. Doesn’t seem right to me that they’re literally creating money out of thin air. He’s known to have scammed people in his government plenty of times before as well.

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"creating money out of thin air" is not only standard practice in the global financial industry, it's basically the only way the industry sustains itself. For reference, read up on fractional reserve banking.