Quote from: tomahawk9 on August 15, 2018, 10:12:34 PM

They just keep coming up with awful ideas which will most likely end up being failures. First, the Petro, a cryptocurrency that no one uses, has no legitimacy, and was clasified as a "scam" by a lot crypto sites ^[1], and now a central back for cryptos? Terrible idea.

Quote from: BitcoinArsenal on August 15, 2018, 05:29:39 PM

Another crazy idea or does the idea have potential?

Do you even need to ask that question?

A country that's going through its worst economic crisis in its history, with a dictatoship that doesn't care the hyperinflation might reach 1 million percent by the of the year ^[2], wants to create a central bank for cryptocurrencies (which is the last thing cryptos want, a central bank system) because the govt wants to have more control over its citizens...No, I don't think this idea has potential.

Tbh, a central back for cryptos is the last thing the citizens of Venezuela need, they need food, electricty, medicines, etc.

1. https://www.bloomberg.com/news/articles/2018-04-03/crypto-rating-sites-are-already-calling-venezuela-s-petro-a-scam
2. https://www.theguardian.com/world/2018/jul/24/venezuela-inflation-million-percent-imf-warning

I'm more than positive that this idea will not gonna push thru.
Crypto is not meant to be centralized and for so long, that kind of freedom is enjoyed by crypto enthusiasts and the likes.
This is not the solution to what is happening with their economic situation.
This will just pave the way of getting money from crypto users, in which, beforehand, crypto is free from taxes and other charges.
Remember that the corruption in Venezuela is high by world standards. They can think of better solution other than tapping the crypto community.

https://en.wikipedia.org/wiki/Corruption_in_Venezuela
https://www.businessinsider.com/corruption-at-venezuelan-oil-company-is-worsening-the-economic-crisis-2018-4