The world’s first legally compliant cryptocurrency backed by oil reserves (oilcoin.io)

A currency backed by an extremely volatile commodity doesn't seem to be that smart.

The idiocy is so delicious, I need a bigger spoon.

Were going to back up crypto currency, with petroleum dollars. Because mah gold standard.

(Orson Welles clapping gif)

The fact that the first legally compliant cryptocurrency is backed by oil reserves says a lot.

now i need to start working on a white paper for a cryptocurrency called goldcoins, that removes the restrictions of cryptography, that is transparent to government oversight, and allows for government manipulation.

Why? Why does a cryptocurrency need to be backed by a physical asset?

The PetroDollar is so old school... let's welcome OilCoin instead!

(In all seriousness, I hope this is not a trend that takes on... having war-tied-value criptocurrencies could only lead to open betting on wars!)

> OilCoin will actively engage with global governmental authorities to mitigate regulatory risk.

"Hi, this is Oilcoin calling for Vladimir Putin, we're looking to protect our holdin..."

Click

"...Hello??"