1. To post you need to register an account and await approval. Click Here to sign up!

Venezuela to introduce new Cryptocurrency - the Petro

Discussion in 'World Economy' started by Tadhg Gaelach, Dec 4, 2017.

  1. TheWexfordInn

    TheWexfordInn Respected Member Donator Battle Royale Political Irish

    Likes Received:
    1,576
    Trophy Points:
    163
    So Tadhg you are given the option of converting all of the Euros in the pension fund you have been saving into for the last quarter of a century into either Petros or dollars which option would you choose?
     
  2. OP
    Tadhg Gaelach

    Tadhg Gaelach Legend Donator Battle Royale Political Irish

    Likes Received:
    16,085
    Trophy Points:
    313

    I believe in portfolio diversification. I wouldn't put any more than 10% of my money into anything. But I don't think US dollars is a great place to have money either. I would buy a small quantity of Petros to support Venezuela - an amount that I can afford to loose.
     
  3. TheWexfordInn

    TheWexfordInn Respected Member Donator Battle Royale Political Irish

    Likes Received:
    1,576
    Trophy Points:
    163
    Well if things go wrong its a possibility you might lose some percentage of your dollar savings, but there isn't a possibility of you losing 100 per cent of your dollar savings which is a real possibility for anyone switching their savings into Petros.
     
  4. OP
    Tadhg Gaelach

    Tadhg Gaelach Legend Donator Battle Royale Political Irish

    Likes Received:
    16,085
    Trophy Points:
    313

    Yes, but I don't mind loosing the amount of money that I'd put into the Petro. I'm sure I'd never use Cryptos to buy anything anyway. You saw how that Che Guevara stamp sold out in a week. People are still trying to get hold of them. The Petro will be like that - but on a global scale.
     
  5. Anglophile

    Anglophile Respected Member Political Irish

    Likes Received:
    533
    Trophy Points:
    113
    The fraudulent bubble of a 'Cryptocurrency' will not bail out the Socialist kleptocrat gangsters.

    ...And the people of Colombia will continue to suffer, as a result.:(