Quote from: Maestro75 on February 21, 2018, 05:16:15 PM

Quote from: alyssa85 on February 21, 2018, 12:55:54 PM

Apparently Venezuela has already raised $735 million from it's pre-sale:

https://www.rt.com/business/419397-venezuela-petro-cryptocurrency-maduro/

Quote

Investors have purchased some $735 million worth of Venezuelas oil-backed cryptocurrency on the very first day of pre-sale, according to President Nicolas Maduro, who praised it as means of breaching the US financial blockade.

Today, a cryptocurrency is being born that can take on Superman, Maduro announced on Tuesday, referring to the US as a comic character. The Venezuelan leader, however, provided no details about the first investors in the petro, which is backed by the countrys oil, gas, gold and diamond reserves.

The Bolivarian Republic of Venezuela guarantees that it will receive PETRO as a form of payment for national taxes, fees, contributions and public services, taking as a reference the previous day's Venezuelan oil basket price with a discount, says the official website for the newly-launched asset, which is set to go public next month.

It is a good sign that Venezuela has been able to accomplish that huge amount on presale. If eventually the Petro-crypto gets the country out of the woods, believe me the wide world will not have a better approach than to embrace cryptocurrency. Fans of virtual currency should just hope this succeeds. All the same, thumb up for Venezuela.

I would disagree because I don't think we want this coin to succeed. If it does all it will show is that another centralized party came in with authority and ran a centralized coin that would not bode well for crypto. So therefore I would argue we need a project like this to fail, we don't want to see more "Ripples" around here do we?