Archived Venezuela Offers India Crude Oil On 30% Discount, Only If It Agrees To Pay In Cryptocurrency (archive.fo)
submitted ago by Kippering
Posted by: Kippering
Posting time: 2.6 years ago on
Last edit time: never edited.
Archived on: 7/30/2018 10:00:00 AM
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90 upvotes, 2 downvotes (98% upvoted it)
Archived Venezuela Offers India Crude Oil On 30% Discount, Only If It Agrees To Pay In Cryptocurrency (archive.fo)
submitted ago by Kippering
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[–] RevoltNow 0 points 1 point 1 point (+1|-0) ago (edited ago)
What I always wonder about these state-backed crypto-currencies: are they still peer-to-peer? Or does the government have ultimate control over it? Some people might consider that a good thing, if your coins get stolen (and you can prove it) the government can magically give them back, which could be nice, or they could just steal your coins themselves.
OK, I answered my own question, kind of: this article details a rather hilarious series of proposals. TL;DR: Venezuela actually has no idea how the coin will work.
[–] ANGRY_Hippopotamus ago
Their track record should have tipped you off about their competency