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RE: Oil Backed Cryptocurrency - Venezuelan President Issuing First 100 Million Petros

in #cryptocurrency • 7 years ago

I see the benefit for the Venezuelan state here, but I don't see the benefit for anyone else that would entice them to use it. Can anyone shine some light on that for me?

7 years ago in #cryptocurrency by
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     7 years ago 

    Assuming the state does not cheat the system, it's a pegged currency. Those are hard to come by these days, since fiat abandoned the gold standard wholesale.

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