Need help about the PETRO (English plz)
OK. So I'm a fervent anti-communist and I live in Latin America but I can't speak Spanish. (I know, I know)
I'm also HUGE into Bitcoin. Now Muduro is launching this coin of his own. Many are dismissing this in the crypto community because Muduro is a thug but also because many say the Congress declared it illegal.
Now that matters is most of the world but the Congress has no power in Venezula. Right?
Anyway.....how can I better tell my friends NOT to buy this.
Posted Feb 3, 2018, 9:17 AM UTC
It’s a scam devised to help getting around the sanctions imposed on the governing elite in venezuela. Don’t buy into it because it will be subjected to the same economic model and controls as the bolivar (including the auction and government allotments model), so should you know it will be abused, and if it’s abused, what worth will it have? Imho it’ll be as good as trying to trade reddit silver.