Argentina struggles with yet another financial crisis!

cluit

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Quote from: Menawi12 on November 09, 2018, 08:55:35 PM

Quote from: MrsBlockchain on September 06, 2018, 02:52:37 AM

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

Argentina always suffering crisis on their economic system. I think its good to try a new system by creating their own cryptocurrency. Or maybe they should fix their monetary system and their politics policy

Argentina also hosts the new G20 summit and I do not think there will be any big improvements after that neither. It is just a very costly summit that would cost Argentina a lot of manhour and even money at some sorts to prepare for such a big deal with all the big leaders of the world coming together and making a lot of deals together and so forth.

That is a big deal and really one of the most important things in politics however Argentina is under crisis and having financial troubles whereas none of those countries in G20 will get together and say "maybe we can spare couple billion dollars each and give Argentina 50+ billion dollars with some loans as well in order to save them from this". No, they won't do that because first of all they only care about themselves and secondly these are politicians they don't do anything for free.

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Quote from: Akpuv on November 24, 2018, 04:48:36 PM

Quote from: MrsBlockchain on September 06, 2018, 02:52:37 AM

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

Reading this post, I am not particularly convinced if this suggestion of a national cryptocurrency for Argentina can actually solve this their crisis.

That's what I think also as there is no point on creating a currency when one can use bitcoin which is already established as a world wide currency. People and government need to realize the real potential of the bitcoins and its positive effects on economy.

Akpuv

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Quote from: MrsBlockchain on September 06, 2018, 02:52:37 AM

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

Reading this post, I am not particularly convinced if this suggestion of a national cryptocurrency for Argentina can actually solve this their crisis.

manfredmann

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If that is the case probably the decentralized nature of cryptocurrency will be more emphasized since it will be decentralized in their own country and probably no one could trade it if you are not into their place like living in different country. This token will serve well in their country and will use the purpose of cryptocurrency as peer to peer transaction.

zacad

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Yes, Argentina should have a lot of people buying cryptocurrencies and they will be hit again. Now the cryptocurrency market will disappear, and only Bitcoin will survive and be cheap in the future. The Argentine people have once again been hit hard.

marcelocoin

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I have compassion and respect for the Argentines, I hope, the use of the blockchain and the crypto-currency market will help countries like Argentina and Venezuela where they are in financial chaos.

Rhosadah

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the crisis in argentina caused a high increase in interest rates and drought hit the entire agricultural region making exports of agricultural commodities declining because of the contribution of Argentine foreign exchange to agriculture producing corn and soybeans,
but this makes the Argentine government work harder to stabilize the economy in their country.

suzanne5223

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Quote from: MFahad on November 21, 2018, 01:05:15 PM

Own Concurrency will not help much as it will be another altcoin. If Argentina want to recover from crisis they need to make bitcoin legal in their country and make bitcoin the main payment system of the country. This way they will be less dependent on bitcoins and eventually they will recover financially.

I agree with what you said concerning the creation of own crypto currency to be the solution to the hyperinflation which Argentine is experiencing but their seems not to create an open room for crypto currency and I'm sure they will now if they indeed love their people.

MFahad

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Own Concurrency will not help much as it will be another altcoin. If Argentina want to recover from crisis they need to make bitcoin legal in their country and make bitcoin the main payment system of the country. This way they will be less dependent on bitcoins and eventually they will recover financially.

raven7886

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I think politics definitely has a responsibility in stuff like these but how can a whole nation fail at economy with some nations soar. Because of our borders and our nations we are letting some countries to go to waste in order to make our countries better, we are fine with other people having a very tough time as long as we are living a great life.

I do not think this nation states are working exactly like they should in a world that has seen civilization grow to a place where globalization is acceptable for companies but not for people. Corporations like Apple can sell iphones at Pakistan but a Pakistani person going to USA wouldn't be accepted with open arms.

If a company can go to a country and sell there and pay taxes there, than a person should be able to move anywhere they want and work there and pay taxes there without borders, that would make Argentina and all other failing countries much better because it would make everyone choose where they want to live and whole world could come together to help those who have needs since the top heavy countries will have a lot of people from those countries.

ganlianshifu1

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The political situation in Argentina is turbulent and economic policies are changing frequently!
Argentina, under the leadership of the government’s wrong fiscal policy and economic model, is already on the verge of economic collapse!
The government’s inability to make any adjustments to the capital market has led to the financial crisis.

fly99

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This must be bad news. Financial barriers exist in some European countries and may become the trigger for the global financial crisis. If the crisis sweeps East Asia, this is the same as the 1998 Asian crisis. This is a disaster for the financial civilization of mankind.

South Park

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Quote from: tadpole_bitfrog on November 09, 2018, 11:10:10 PM

Quote from: MrsBlockchain on September 06, 2018, 02:52:37 AM

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

That's a sad news. I think Argentina is a country with no stable source of income and is one of the factors that affect the Crypto market. High inflation has occurred in many places and most recently Turkey. Creating an electronic currency is a good idea.

Argentina used to have one of the most solid and strongest economies of South America, but like always some politicians saw this as an opportunity to try to make a name for themselves and tried to manipulate the economy of Argentina and now we're seeing the awful results of their policies, a country that is constantly in a state of crisis and that it doesn't seem like it is improving soon.

airdropcoin

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There is no need to worry, and the world will soon be ushered in a financial crisis. A major technological change will inevitably affect the world. The birth of the blockchain has brought human civilization into a turning point. This is often the time when the economy is most prone to problems.

tadpole_bitfrog

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Quote from: MrsBlockchain on September 06, 2018, 02:52:37 AM

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

That's a sad news. I think Argentina is a country with no stable source of income and is one of the factors that affect the Crypto market. High inflation has occurred in many places and most recently Turkey. Creating an electronic currency is a good idea.

Zalura

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Quote from: vlad230 on September 06, 2018, 06:15:35 AM

I wonder what is causing this hyperinflation in Argentina. I know it was the same story back in 2016.

They are saying the video that political decisions are causing this but usually only happens for countries that are in a "direct" conflict with the US like Turkey or Iran and this usually happens once in a decade not every two years.

Argentina's financial crisis has also been felt in several countries, of course, caused by a variety of different problems, but all lead to world bank loans that fail to be paid on time, loan from the world can cause various countries to experience crisis, because the Malaysian example is official those who commit corruption, the effects that make the country owe a lot and fail to pay, Turkish infestations are too large in the infrastructure sector, making spending on Turkish money too expensive to exceed state revenues and many other countries.

Menawi12

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Quote from: MrsBlockchain on September 06, 2018, 02:52:37 AM

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

Argentina always suffering crisis on their economic system. I think its good to try a new system by creating their own cryptocurrency. Or maybe they should fix their monetary system and their politics policy

South Park

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Quote from: MrsBlockchain on September 06, 2018, 02:52:37 AM

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

Cryptocurrencies are already very big in Argentina, smart people have realized that they cannot trust the government, those that can just use dollars to try to protect themselves, but then the government decided to limit the flow of dollars and so they decided to begin to use cryptocurrencies because they know it is impossible for the government to regulate them.

audaciousbeing

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Quote from: MrsBlockchain on September 06, 2018, 02:52:37 AM

Argentina struggles with yet another financial crisis! Is it time for the Argentinians to create their own crypto community currency instead of repeating hyperinflation once again? In Nairobi Kenya, Bancor has started an initiative for the local citizens to trade tokenized community currencies peer-to-peer without counter party risks. While Argentina is suffering with Dejavu.
https://www.reddit.com/r/cryptocurrencynews/comments/9dfr3j/argentina_struggles_with_yet_another_financial/

It has not been proven that creating crypto currency is the solution to the problem of hyper inflation. Several countries have witnessed hyper-inflation in the past to the extent that in some countries citizens would carry bag full of currency to the market only to come back with a loaf of bread that is how bad it was but today they are doing well and crypto currency was not their solution. A country that believes that creating crypto currency would solve its economic problem without attending the root cause of the inflation, would only provide a short term solution that would come back to hunt them big time in the near future. An example is a country that is dependent on imports and the reason for the inflation is the continuous demand for foreign goods. No matter the amount of crypto established without encouraging local production and patronage, its purely going to be a waste of time.

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Topic: Argentina struggles with yet another financial crisis! (Read 560 times)