Would you invest in Petro?

Would you invest in Petro?

It’s going to be release by a country. It will be backed by gold and oil. Two big components from that country.

They should pay their debts first.

...

>Venezuela

Who?

Trust me guys the petro is going up to $10 then it will fall. If you wanna make a 1000% unless 3 moths you should invest in it.

No, I don't trust fucking communists.

They are rich niggers. If you are looking for a good house and a lambo for the next year you should invest in PETRO.

Trust me guys! They are going to increase their savings for about 1000%

No, you stupid fuck.
Communism only works if people are poor and ignorant as fuck, now explain to me why a tyrannical regime would make the average joe rich.

Country performs a scam wow that's some level up

>It will be backed by gold and oil. Two big components from that country.


well first take a look at our int'l reserves. They are going down by the minute as they scramble to pay debts. The oil Venezuela has is also extremely heavy and difficult to extract/refine. The country does not have the technology to do it and depends on joint ventures and concessions to russian/chinese/indian companies. Most of the oil production goes to china anyways, they get cheaper oil for having lent a shit ton of money to Venezuela on the last years. So it's all vaporwave, Venezuela is one of the brokest countries in the world right now. Inflation is almost 2000%, if they can't back our FIAT with anything, how will they back any form of cryptocurrency?

this is all a trick to launder money probably. Eveything I stated you can easily find after 5 minutes in google, sorry user

>Venezuela

No thanks

>'backed up by Venezuelan oil, gold and diamonds'

Like anyone fucking believes they'll honor their promises when you try to redeem it

Probably won't even have a fixed amount, will be centralized and able to print infinite amount. What kind of moron would buy this?

>Probably won't even have a fixed amount, will be centralized and able to print infinite amount.

Just ike USD lol.

Haha "backed" by gold and oil. Once this launches, try calling them up and asking to cash in some of your Petros for some gold and oil and see what happens. "Backed!" jajaja this guy

>It will be backed by gold
Good.

>and oil.
FUCK NO

Where could I hypothetically buy this?

>1 gallon of oil was deposited to pajeet pakito account

At least you can spend USD for goods and services in many countries, try asking Maduro to cash in your commiebucks

>Capitalist dogs have bought our coin and we are voiding all liabilities to international holders of the Petro, thanks for the money retards

Doing so will probably mean breaching some law about sanctions.

This is one of the few areas of crypto that is actually regulated. Stay the fuck away.

I'd buy it with Tether and nothing else.

>government needs to wash their drug money and are sanctioned by the us
>currency worth less than wow money
>need to keep position in power somehow
>creates a crypto so that they can switch from their current currency
>finally legalize mining, in the country where it's the best place to mine since electricity is piss cheap
>they wash their money and keep their position
holy shit how are you not getting in

>It will be backed by gold and oil.
Why wouldn't I just buy gold and oil instead?

Of course I will, both because the gainz and the political question.

Viva Venezuela Libre!

this thing did a 2000% in one night

should I go back in ?
how many months