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Russia to Launch Oil-Backed Cryptocurrency
- SCAQTony 8y agoCrude oil is unbelievably toxic. Tracy Alloway, executive editor at Bloomberg Markets tried to buy a barrel of oil and found out that the rules for storage are robust, to say the least. (Hydrogen sulfides etc.) https://www.bloomberg.com/news/articles/2015-11-03/that-time-i-tried-to-buy-some-crude-oil https://www.bloomberg.com/news/articles/2015-11-03/that-time... If the Russian cryptocurrency was backed by gold, silver platinum, or even rubbles, a cryptocurrency commoner could easily take delivery if they decided to "cash out." The only user that could take delivery of Russian crude would be refineries.