Post
Topic
Board Bitcoin Discussion
Re: Venezuela Launches Its Oil-Backed Cryptocurrency Petrocoin to Save Economic Cris
by
Carlsen
on 23/02/2018, 09:29:59 UTC
I fear that this might become a new sport for countries with financial problems: create your own crypto currency.
Crypto currencies established by a government can be backed up by almost everything, bananas for example.

And I am wondering if that is really going to be a good trend. It all sounds like ICO on a larger scale. From what we know, many ICOs turn out to be a scam.
Most of the countries with financial problems have a problem with corruption in the government. I think I can imagine where the money they get from the crypto currency will go to.
And once we will read news about governments scamming people with crypto currencies, that will shake the trust of the people in all crypto currencies.
Maybe it will even lead to a point where people will start to think of crypto currencies as tools of governments.
No, I do not like this developement!