You are viewing a single comment's thread from:

RE: LIES Surrounding The Venezuelan PETRO ICO

in #cryptocurrency7 years ago

I'm not sure how a new crypto actually helps solve Venezueals problems. A currency is only useful if it can be used - given the country's current reputation I would say they will find it hard to get adoption going outside of it. Who is going to accept the coin? The country being poor doesn't help things either - I would wager all my ETH on poor, hungry people having the tendency to sell expensive electronics to buy food. A crypto currency is therefore probably useless to the people that need it the most.

What exactly is Maduro's plan here? Given his reputation I would put my money on an exit scam with a cover up... something along the lines of "the project wasn't a success... crypto doesn't work." That might be too crude however. Maybe he really thinks that the currency will help him somehow. I'm interested in seeing how this develops further.