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RE: Venezuela President Maduro Officially Launched The Petro Crypto, Starts Hiring Miners
There are two things that need mentioning here:
A communist regime is relying on a capitalist tool to save the country from starvation...how ironic!
From past experiences, everytime the state sticks its tail into entrepreneurship things go wrong (Startup Nation in Romania rings a bell?).
I'm curious how this crypto currency will develop, but I am expecting news in the nearest future that it has crashed.
I never thought of cryptocurrency as capitalist before.
crypto is not communist or capitalist it is a new ideology i would like to call Decentrist. A ideology that allows for melding of democratic and socialist polotical ideas coupled with the input of the increasingly knowledgeable constituency that seeks to improve the system but leaves room for healthy competition and growth.
I agree that capitalist is to small a term. But it certainly has capitalist traits- the market is king, supply and demand rules!
Love your first statement, however look at China, there the magic seems to work.