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RE: How should we treat the Venezuelan Petro Crypto Coin?
It's an interesting question to bring up. I would say that it is an attempt to recentralize the losses of decentralized currency. In general you cannot trust a government to serve the benefit of an individual. It has never happened in history to date so this will not be any different. It may be fun to profit off the coin if possible but it will ultimately fail in my opinion.
I wonder if this is just an attempt to replace bitcoin within the country with this currency. Now they would have paper fiat and know body wants and then this new crypto that comes with concerns. Bitcoin will stay as king there since they the people have trust in it because there is no central authority other than miners to some extent.