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Cryptocurrency discussions / Re: Venezuela - future of crypto?
« on: February 06, 2019, 08:44:49 AM »
Maduro described the petro as a currency “that can take on Superman”. Claims followed that the digital tokens raised $735 million in its first day of release. But this did not stop the IMF projecting Venezuela’s 2018 inflation at 1,000,000% in July. Teunis Brosens, economist for global markets at ING, says: “It’s really strange to call it a cryptocurrency as the Venezuelan government is doing. It’s not really a cryptocurrency.” He explains: “A cryptocurrency proper is decentralised so it doesn’t sit well with a country and central bank issuing a cryptocurrency.”