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Old 02-17-2018, 10:23 AM
 
2,786 posts, read 1,518,081 times
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Quote:
Originally Posted by NickofDiamonds View Post
"to serve as a “skipping land-lines for cell phones” moment" (What does that even mean ? )
This just refers to moving directly to a more modern technology or system, like many poor countries are doing now. They won’t have the same landline telecommunications network that we started with in the US. It’s easier and cheaper to deploy wireless networks/backbones.
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Old 02-17-2018, 10:27 AM
 
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Quote:
Originally Posted by lieqiang View Post
They could be full of it I don't know (Venezuelan accent and slang is a lot like coastal Colombia accent and slang)
Yes! After always spending time with friends/family who speak much easier to navigate dialects, I struggled with those too
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Old 02-19-2018, 04:18 PM
 
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Quote:
Originally Posted by Ken_N View Post
https://medium.com/@jonathan.wheeler...n-9f60c71d380b

Here is someone who is planning to “airdrop” $300,000,000 of bitcoin to the whole population of Venezuela, which is experiencing an ongoing currency inflation crisis.

This is like an outside unstoppable takeover of a national economy, empowering the people of the country to take their own economy back.

It will be very interesting to watch this unfold if it happens.
I just wrote "Venezuela = $1,000,000,000 supercoins" on a piece of paper. Ask me what it's like to take over a national economy.
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Old 02-20-2018, 03:27 PM
 
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Venezuela is launching there own state crypto, as an ERC20 token on the Ethereum platform.

https://motherboard.vice.com/en_us/a...currency-petro

“...The Venezuelan government will accept Petros as payment for things like taxes and public services, and will provide financial incentives for merchants in the country to adopt the Petro...”

With distributed exchanges that don’t care about KYC/AML regulations this may provide a way for people to spend their air-dropped bitcoin by trading it for Petros to spend locally.

I am a big fan of Ethereum, but I hope they looked really hard at their smart contract to make sure it is bug free. Every hacker in the world, and I’m sure state actors, will be looking very hard at that contract for flaws.

Last edited by Ken_N; 02-20-2018 at 03:36 PM..
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Old 02-20-2018, 03:34 PM
 
319 posts, read 180,387 times
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Quote:
Originally Posted by damba View Post
This just refers to moving directly to a more modern technology or system, like many poor countries are doing now. They won’t have the same landline telecommunications network that we started with in the US. It’s easier and cheaper to deploy wireless networks/backbones.
In the case of the Venezuela air-drop, the people would be skipping over a centralized economic system that requires trusted middlemen to be in control and move directly to a stateless decentralized economic system.
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Old 02-20-2018, 04:42 PM
 
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Quote:
Originally Posted by Ken_N View Post
In the case of the Venezuela air-drop, the people would be skipping over a centralized economic system that requires trusted middlemen to be in control and move directly to a stateless decentralized economic system.
I am quite aware of what it means

Have you ever been to Venezuela? It’s a complete basket case now, and previously was still arguably not much better. Without the goods and services, what you have cited will be an exercise in failure.
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Old 02-20-2018, 04:47 PM
 
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How is this different than using cigarettes or nylon stockings or chocolate bars for currency? Oh, wait, the cigarettes, stockings, and candy actually exist.
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Old 02-20-2018, 06:02 PM
 
319 posts, read 180,387 times
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Quote:
Originally Posted by damba View Post
I am quite aware of what it means

Have you ever been to Venezuela? It’s a complete basket case now, and previously was still arguably not much better. Without the goods and services, what you have cited will be an exercise in failure.
I assumed you knew, just expanding for anyone else

I haven’t been to Venezuela, I am lucky to have lived in the US all my life, so I know I don’t really understand the struggles of people in a country like Venezuela.

It might be though that the introduction of the Petro as a currency accepted for taxes and goods and services inside the country as planned, will indirectly enable this airdrop to work. This will depend on the details of the Petro token, but it will most likely be possible for people to freely trade their bitcoin for Petro and spend it locally.

I’m just interested in seeing how this all plays out. This whole crypto boom has created a new class of wealthy people, with very different ideas on how everything should work. They have the capital and possibly the tools to create disruptive change.

Here is a different example of an anonymous crypto-wealthy person who is trying to do some good and support various causes with their wealth:

https://pineapplefund.org
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Old 02-22-2018, 01:05 PM
 
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They have a petro gold now, the gold backed crypto...

But no one is calling it a gold standard currency because it isnt

Even the oil backed crypto doesn't make sense, it isn't any different than an oil futures contract/govt bond
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Old 02-23-2018, 09:54 AM
 
3,999 posts, read 1,613,121 times
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Quote:
Originally Posted by Ken_N View Post
https://medium.com/@jonathan.wheeler...n-9f60c71d380b

Here is someone who is planning to “airdrop” $300,000,000 of bitcoin to the whole population of Venezuela, which is experiencing an ongoing currency inflation crisis.

This is like an outside unstoppable takeover of a national economy, empowering the people of the country to take their own economy back.

It will be very interesting to watch this unfold if it happens.
You know what they say about a fool and his money, right?

Venezuela is the pluperfect example of what happens when a country embraces socialism. Twenty years ago, it was the wealthiest country in Latin America. Now it is an economic basket case.

The population of Venezuela is around 28,000,000 (Of course, that number has likely decreased, given how people are fleeing the country in droves). $300,000,000 distributed among 28,000,000 is something like $10.17 per person. A drop in the bucket. If you gave that amount to a smaller number of people, I'm pretty sure they would use it to leave the country.
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