Post
Topic
Board Tokens (Altcoins)
Re: [PRE-SALE][ICO] Petro $PTR - Oil backed crypto currency launched by Venezuela
by
alemacgo
on 27/02/2018, 01:42:02 UTC
Getting back on-topic, here's a graph of how much money the Venezuelan government has printed over the years.

https://www.dropbox.com/s/tazuoa50olknl1s/money.jpeg?dl=0

Do remember that the government's only promise is to accept petro at the value of a barrel of oil's worth of bolívares (VEF), a currency that's experiencing hyperinflation thanks to... money printing! Oh, and at which rate? They set the rate themselves. The whitepaper says they'll use a formula with a discount rate of at least 10%, and no upper bound.