Why aren't you investing to build socialism in Venezuela, Holla Forums?

I'm curious: what exactly do I do with this, why does it matter that it's backed by oil?

From their web:
You are not buying currency which you can not exchange for bread. It's crypto backed by military and industrial power of Venezuela. But taken in what shape that country is, it's not saying much.

I'm definitely buying one token crypto-petrodollar. And if it's possible, I'm also going to get one petroyuan.

because i dont have any money and also i dont think i can legally do that due to sanctions or some shit

As a burger, buying anything Venezuelan will probably get me in jail, even more if its meant to compete against the dollar

Does this use the same thing buttcoin does when mining it, i.e. using up raising amounts of electricity?

So much for free markets.

It's backed by oil, you can't mine oil with your computer homie.

Socialism doesn't work like that.

You're acting as if the Venezuelan government has a choice; They need to be capitalist to survive in a capitalist controlled world. At least they haven't fucked over their workers like so in China.

Wait, so essentially you're buying government shares on oil or something?

Yup. With the added bonus of fucking over the petrodollar and strengthening a country in the Empire's way.

The entire world is (at least claiming) to move on from oil and the US is sanctioning VZ's ability to export oil to their markets. Even if that doesn't happen, advances in offshore drilling and fracking mean VZ's edge is diminished because every other country now has more accessible reserves. Investing in this country's oil supply is not going to hurt the petroldollar, even the Saudis trying to sell oil in Yuans largely won't work because China doesn't consume that much oil (and they are only doing it because they let the Saudis bankrupt their own state-owned oil company like the beta cucks they are).

VZ isn't going to profit from this at all unless they find some seriously stupid capitalists who will trust a self-admitted socialist country with their money.

why didn't vz upgrade their refining capacity so they didn't have to depend on burgerstan?

surely this is a wise use of money

venezuela's oil is shit tier, even if they had refineries capable of refining it, it still wouldn't have been very profitable to extract it when the price of crude was like 50$ a barrel

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Cryptocurrencies are anti-imperialist.

Maybe.

Forgot my flag, that was the first non-surpdo post in months.

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I hope this is a ponzi scheme by Maduro to lure in porkies/libertardians and rip them out of their cash.

top tier socialist praxis

MADURO IS TROTSKYITE CONFIRMED

lol wait until the guys at /biz/ hear about this