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RE: The 1 Bitcoin Show- Bprivate white paper is live, Cryptopia Zclassic issue, Lcash, Petro, Trezor
Petro might as well be another fiat IMO, afaik it isn't decentralized at all...
Petro might as well be another fiat IMO, afaik it isn't decentralized at all...
I know what you mean, and agree with you regarding the Petro being as good as centralized. However, considering the current US sanctions on Venezuela along with the continuous human abuses happening within Venezuela, I wonder what effects (if any) the Petro will have on the situation.
Actually I just found something on wikipedia:
In the United States, the Department of the Treasury warned that participating in Venezuela's proposed initial coin offering for the petro cryptocurrency could violate U.S. sanctions against Venezuela, because it "would appear to be an extension of credit to the Venezuelan government"
That's exactly what I anticipated, thank you for confirming this;0)
Its hard to know for sure, I guess we will find out in time. I do think there is SOME chance the US government (along with other western governments) will ban their citizens holding it because it may be considered "financing terrorism". I HOPE they use their heads and allow others to mine it and limit supply, but, I don't like the chances.