Wednesday, December 06, 2017

Venezuela and Bitcoin

I'm going to go ahead and assume that I have a fans of my blog at the highest levels of power in Venezuela.

How else do you explain the recent announcement by Venezuela's President Nicolas Maduro that he supports creating a new cryptocurrency to be backed by the country's reserves of oil, gas, gold and diamonds. I mean this new "petrocurrency" plan is almost exact to the modest proposal I made back in April. 

I'm guessing that they didn't come right out and credit this planned new "petrocurrency" to my genius only because they waited so long. I mean back in April all of Bitcoin in circulation was worth $17 billion but now the market cap of Bitcoin is up to $228 billion. Totally understand President Maduro being too embarrassed by his slowness to move costing the country such a great opportunity to give me my proper credit.

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