Topic: Argentina is not going Bitcoin - page 3. (Read 4090 times)
Don't forget that the language barrier has also slowed things down there... but again, that is starting to change. Adoption is starting to overtake other Spanish speaking countries.
I try to keep up to date on Argentina. My impression is that the handicap they have due to lower Internet penetration compared to western countries is starting to be overcome by the stronger incentives that they have given their horrible currency.
Lot's of bitcoin traders in Argentina, problem is they can't get any money out of there without physically driving across the border and using another countries' banking system. Payday in Argentina everybody lines up to drain the ATM so the goverment can't seize their money. After they drain it they go looking to convert worthless ARG into something else
I don't agree with this. The situation is changing rapidly from what it used to be. The Bitcoin innovators have come from the Western countries almost exclusively, and most enterpreneurs (like me) are providing services over here. That's how it used to be, but now it is different.
I'm seeing enterpreneurs emerge that are actually out there in the countries that could benefit from Bitcoin the most. Things are happening there. A lot of things. China, Kenya, Argentina, Brazil, even Iran, things are happening. Finally. There was simply no one there to spread the word before now, that has quite clearly changed. There was a Bitcoin meetup in Buenos Aires that had 180 people attending, it's quite a drastic change.
Since Bitcoin is growing in Western countries as well, it will probably take a year or two for the others to properly catch up. The service infrastructure and entrepreneurial effort is only getting started, while over here it has developed for a few years already. Just give it time and things will happen big time in countries like Argentina.
I'm seeing enterpreneurs emerge that are actually out there in the countries that could benefit from Bitcoin the most. Things are happening there. A lot of things. China, Kenya, Argentina, Brazil, even Iran, things are happening. Finally. There was simply no one there to spread the word before now, that has quite clearly changed. There was a Bitcoin meetup in Buenos Aires that had 180 people attending, it's quite a drastic change.
Since Bitcoin is growing in Western countries as well, it will probably take a year or two for the others to properly catch up. The service infrastructure and entrepreneurial effort is only getting started, while over here it has developed for a few years already. Just give it time and things will happen big time in countries like Argentina.
I loved the story: "Bitcoin saves the people"
.. but it just doesn't match the realities:
1. Argentina has less node activity than New Zealand and is about as bad as Africa and the rest of South America.
2. Of the 5 largest transactions I checked none were from Argentina.
3. Argentina has 25-50% the transactions it should have to match the US in txs per capita and about the same as some countries 5-6 times smaller.
Now my theory is this:
Those countries that need Bitcoin the MOST will get it the LATEST.
I think this is the same as a kid falling behind in the school: Even if a new better teacher comes along the student is so far behind it handicaps him in following the improved teaching and he gains the least.
Same with Argentina; they have bad government and banking which makes them poor and have bad computer/internet coverage (66% compared to 97% of say Denmark) - which combined makes it difficult to learn about, buy and use Bitcoin.
Already based on the stats we have now I think we can say that by and large the "Western world" holds and will hold for a time the vast majority of all Bitcoin - even though their financial systems are superior and cheaper compared to the rest of the worlds.
With a lot of second wave investors being big shots like the Winkelwoss twins, I think we can also say that Bitcoin will not lead to a major redistribution of wealth in terms of type of and location of the people holding the wealth.
.. but it just doesn't match the realities:
1. Argentina has less node activity than New Zealand and is about as bad as Africa and the rest of South America.
2. Of the 5 largest transactions I checked none were from Argentina.
3. Argentina has 25-50% the transactions it should have to match the US in txs per capita and about the same as some countries 5-6 times smaller.
Now my theory is this:
Those countries that need Bitcoin the MOST will get it the LATEST.
I think this is the same as a kid falling behind in the school: Even if a new better teacher comes along the student is so far behind it handicaps him in following the improved teaching and he gains the least.
Same with Argentina; they have bad government and banking which makes them poor and have bad computer/internet coverage (66% compared to 97% of say Denmark) - which combined makes it difficult to learn about, buy and use Bitcoin.
Already based on the stats we have now I think we can say that by and large the "Western world" holds and will hold for a time the vast majority of all Bitcoin - even though their financial systems are superior and cheaper compared to the rest of the worlds.
With a lot of second wave investors being big shots like the Winkelwoss twins, I think we can also say that Bitcoin will not lead to a major redistribution of wealth in terms of type of and location of the people holding the wealth.
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