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[–] ANGRY_Hippopotamus 0 points 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.

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[–] wo4men0shi1mao1 0 points 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.