Venezuela Offers India 30% Discount On Oil...If It Pays In Cryptocurrency

Comments

• Ilya G Poimandres - 30th Apr 2018 at 2:45pm:
  Mashallah this works - as much as this is at the edge of fungibility, showing the effectiveness of crypto (please make them use nano), would demonstrate the broad appeal of a trustless exchange method. Future is here, just gotta topple the banking system before it takes over the world!
• Bill Simpson - 30th Apr 2018 at 4:38pm:
  Imagine what the NSA could do to it if they put their best hackers and supercomputers on sabotaging it. That could become a way to boost funding for The Agency?
• Ted - 1st May 2018 at 12:13pm:
  For a president Maduro makes a petty good bus driver.
• John Brown - 1st May 2018 at 1:27pm:
  So much for Venezuela's Petro folks. NOBODY is stupid enough to take it except as an immediate way to get a 30% discount on oil, and you can bet nobody is going to hold onto Petros because they know they are worthless. For Maduro to make this scheme work he take $100 worth of oil, has India convert $70 into Petros, and gives them the oil worth $100 for those Petros. In other words he's getting around Global Restrictions and giving away oil at a 30% discount. Given that 85% of Venezuelans are now officially poor, and not USA poor, but Latin America Poor, and losing weight because they don't get enough to eat, and many children are starving selling its failing production of oil at a 70% discount and having to do it by playing with a worthless crypto-currency is hardly a good strategy for the good of the Venezuelan people. Of course it is a way for Maduro and his cronies to get stuff their pockets still. I'd bet that the money they hide outside of the country is not held in Petros. Probably a combination of dollars, swish Franks, and Euros, unless they are as stupid as they appear to be?
• John Scior - 2nd May 2018 at 3:24am:
  Just a simple observation, 30 % discount for oil that is becoming increasingly more difficult to get to buyers, not because of scarcity but due to the ineptitude of Venezuelans leaders in their supposed management of the economy. If it were not for the suffering of the Venezuelan people, it would seem like the world is watching a Looney tunes cartoon. I'm sure the rest of OPEC members are laughing all the way to the bank.
• Sherricoco - 21st Jul 2018 at 9:41am:
  All I needed to start buying or selling bitcoins at furcoins was getting a btc wallet, no sign up, no verification and no delay or stress. They always deliver every time I use them.