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The US Treasury department says trading in Petro cryptocoins would violate US sanctions against Venezuela. So Bitfinex will not trade in it. Coinmarketcap.com
by imbokodo 8y ago
The US Treasury department says trading in Petro cryptocoins would violate US sanctions against Venezuela. So Bitfinex will not trade in it. Coinmarketcap.com lists over 1500 cryptocoins, but not the Petro.
This sort of things shows up the myth of decentralization. Only one cryptocoin with elements of decentralization has been truly challenged, and has basically collapsed under US government pressure. It shows "decentralization" only exists until one powerful country challenges it. Which effectively means all cryptocoins may as well be directed by the US Federal Reserve. Which means you might as well buy dollars if that is the case.
While this is all the case, it can not be proved, so can be dismissed. What it does portend - the complete collapse of Bitcoin at some point - can not be dismissed though.
- smilesnd 8y agoTheir is a difference when a hacker/coder creates a cryptocurrency and a government creates one. I do agree with you the weakness of cryptocurrency now a days is it relies on exchanges that need approval from banks/governments to do business. Gone the days when crypto fans would meet in dark alley ways to exchange cash for coin.
- mythrwy 8y agoThe other thing people sometimes overlook is the infrastructure these schemes depend upon. Control of the wires means a lot. Sure you can always sneak under to radar to some extent but the mass cannot and that probably won't change.