Reply to post: Completely missing the point

Ecuador follows Bitcoin ban with digi-currency proposal

Destroy All Monsters Silver badge

Completely missing the point

The digital currency will be backed by the assets of the Central Bank of Ecuador.

Of which there are none. This is just code for "we will issue some more when we need it", thus as any "Central Bank backed currency" it can be had in heaps as large as you want, inflated away, used to pay off the state's debt for peanuts etc.

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