Topic: Argentina Defaults 2nd time in 13 years! - page 2. (Read 4924 times)

Stop dreaming, but the price would be at $10,000 if that happens..

Let's assume that Argentina today says "Fuckit it! We suck at doing fiat, lets just adopt Bitcoin" and lets all pesos become worthless and force all stores to accept Bitcoin. What do you think that the price would be tomorrow?

It could have come out worse.

The government of Argentina could have continued spending other peoples money without
intent to pay back, for years.

For general knowledge I guess she has more of a tan so would lean to Obama with boobs than Bush with boobs lol 


And
@ At Paul Singer that's why they were called junk bonds you don't get market rate off them
http://www.forbes.com/sites/afontevecchia/2014/07/31/argentina-in-default-everyone-lost-from-cristina-kirchner-and-paul-singers-elliott-to-judge-griesa/

Things couldn’t have come out worse.  Everyone lost: Argentina defaulted on its sovereign debt for the second time in nearly 13 years, the holdout bond holders were left empty handed, and Federal Judge Thomas Griesa’s strategy to force Argentine to negotiate a settlement with the so-called venture funds failed.  Furthermore, a last ditch effort by a group of Argentina bankers led by Banco Macro’s Jorge Brito fell through at the last second.

The decade-long legal battle between a group of hedge funds led by billionaire Paul Singer’s Elliott Management and the Argentine government, which is by no means done, resulted in the worst possible scenario.  At the stroke of midnight on Thursday in New York, Argentina once again entered into a state of default, as holders of its restructured debt didn’t receive interest payments for $539 million.  Credit rating agency Standard & Poor’s downgraded the country’s rating to selective default.

Beyond the consensus opinion among U.S. commentators that the administration of Cristina Fernandez de Kirchner is solely responsible for this outcome, blame is widespread and encompasses practically every actor involved.  And while the fallout of the default wasn’t immediately discernible, failure to find a solution in the short-term could lead to dire consequences for the people of Argentina and all of the country’s creditors, from exchange bondholders to the holdouts.

maybe someone on manipulate this price to control market ,, big man on the games .
just take a little time on it

Paul Singer is an A@@@hole of the highest order, that's clear
Sucks for the people of Argentina

You know something.

No, Argentina is a country with a woman-who-has-absolutely-no-idea-what-she-is-doing for president. I.e. B. H. Obama with boobs.

FTF Someone.

What do you mean I know nothing? I know people in argentina and I know they don't have any money. Tell me how Bitcoin helps them, when they can't have any Bitcoin in the first place.

WTF lol? You are suggesting that the people of Argentina whore themselves out. I doubt those girls really end up making very much anyway.

I do feel bad for the people of Argentina, however they likely knew that it was coming and were able to plan appropriately. For example the price of bitcoin is trading at a huge premium in terms of Pesos when converted to Dollars, which reflects that the black market trade of pesos has already reduced the value of pesos. 

No, Argentina is a country with a woman-who-has-absolutely-no-idea-what-she-is-doing for president. I.e. G.W.Bush with boobs.

Hey, who you calling gay? 

Yep the IMF would set to many restrictions on what they can do with the money to improve their citizens and economies well being
They have alternatives now with the BRICS + Germany possibly and Mercosur and the Bank of the South which can help them to alleviate their issues.
So best to default now and switch the credit lines and get rid of those international banks interfering in the affairs of their state.

That would be Uruguay: https://www.youtube.com/watch?v=1BwVxmJPies

Isn't Argentina the country with the super-laid back president?

You really have to stop sobbing.

You know something now, you can intervene to change the course of events for yourself. Live and let live.

If I recall my memories correctly then Argentinian chicks are pretty hot. They can always start a web cam show and earn some international bitcoins. Desperate times take desperate measures you know... To feel bad for someone else is really just an act of self-pity, which in turn originates from self-importance. I assume there is no need to explain why the latter is so bad, it should be self-evident

To invest in bitcoin and withdraw back to fiat usually involves sending money from a bank to an exchange, then back to your bank account again. In very serious economic collapses some countries deduct a percentage from everyone's bank balances to pay the national debt. In addition, they sometimes place a limit on withdrawals, so people can only withdraw a small amount each day.

Even if someone there had money invested in bitcoins, it would be difficult to convert it back into their local fiat currency. If they wanted to invest in bitcoin the bank may only let them invest a small amount, even if they were millionaires.

I feel really bad for the people over there! This is something that affects your life if you're living in such a country. I don't know if Bitcoin can alleviate some of those problems, but I don't exactly know how we're supposed to 'bring' them Bitcoin and help them subsequently...

Its not the increase in price that will benefit them the most... The buying power could remain perfectly stable and it will still benefit them once adoption grows.