RE: Venezuela's $5b Ethereum Based PETRO ICO Whitepaper Released!

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Venezuela's $5b Ethereum Based PETRO ICO Whitepaper Released!

in cryptocurrency •  7 years ago 

What if they already have the gas reserves sold or compromised (Gov. Bonds, etc)?

cryptocurrency
7 years ago by

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      ·  7 years ago 

    I read a bit more. It seems the government is not really guaranteeing any oil. It is just promising to accept the petro for taxes and social services. And it will do so at a rate that is based on a formula that includes the current market price of oil. Plus they take a service charge of something like 10%!.

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