If true, this is interesting because India is on the verge of banning BTC and all other cryptos. On top of making anyone who owns BTC a criminal.
[–] ANGRY_Hippopotamus 0 points 1 point 1 point (+1|-0) ago
How, exactly how do you pay for oil with a cryptocurrency that is "backed by oil". While we're at it, how does a crypto, issued by a government differ from just currency?
Anyone willing to enter negotiations with the Venezuelan narco-state, is either stupid or in it.
[–] wo4men0shi1mao1 0 points 1 point 1 point (+1|-0) ago (edited ago)
The best part is, it is backed by oil but you cannot exchange it for oil. So it's actually not back by oil at all, and is just another fiat run by the economically sauvy Venezuela.
[–] no-hurry-no-pause 0 points 1 point 1 point (+1|-0) ago
in an unofficial crypto currency.
Actually they have an "official" state-approved venezuelan crypto now, "the Petro".
They dont want bitcoins, they want india and other oil buyers to buy their shitty socialism-approved crypto.
[–] JTMTL ago
This one I would buy big time.