Topic: Argentina's Leading Presidential Candidate Preaches Bitcoin (Read 322 times)

Thats wrong, country's economy depends on different sectors growth. The combined outcome will be the GDP. What does the bitcoin contribute to the GDP, it is very minimal for now. Adoption of bitcoin will boost some of the sectors to turn positive in revenue. This doesn't mean making bitcoin legal is the only way to grow a country's economy.

It's nice that even though some of these politicians know that it's impossible to control a Bitcoin, they still allow it on their country. They know that this can greatly help their people aside from the help that they are giving. And when the people is earning well, this will also have a positive effect in the country.

Where did you get the idea that 2023 is an extraordinary year when in fact many users doesn't feel that bullish but it can be a turning point in which a slow recovery is expected to happen up until we reached the next page/s of our calendars again. As of now, BTC have already co-exist with the traditional currencies. It can remain like this for a long time.

His being a smart politician and trying to get the young people on his side is also a huge development for us; we need more people like him to endorse Bitcoin.

How do you think that the president of Argentina is a powerful person? I would consider if a president of a rich county supports bitcoin.
Argentina GDP is 25,882$ and as it is a developing country.

Anyhow, the only way to compete with the developed world, the developing countries should support bitcoin and allow bitcoin as a legal payment method. Only this way, they can grow their economies and prosper quickly.

I think you give too much importance to politicians when it comes to Bitcoin, because politicians are just puppets of those who rule from the shadows and who actually decide whether something will be illegal or not. When it comes to Bitcoin, of course they don't like the idea it promotes, but business and profit come first, and they always have everything under their control.

If the world leaders were united in the decision to ban Bitcoin, then they would be no better than those who are constantly called out for the lack of democracy and human rights and freedoms. Therefore, I do not see that the US, EU, UK or Japan would rank with countries like China, Russia or maybe even India, which are quite restrictive in this regard.

Trading with Bitcoin can always be completely switched to DEX, and then we remove politicians, banks and CEX from the entire equation - which of course would not suit many people because they would gladly sell Bitcoin to the black devil just to make a profit.

Your point is succinct and clear, yes no government can control Bitcoin, but getting older and more countries or politicians openly supporting Bitcoin is always a positive thing. 2023 is destined to be an extraordinary year. Whether it is a turning point or not, time will naturally give us the answer. What we need to do is to let more people around us accept Bitcoin and use it. Bitcoin will eventually coexist with the fiat currencies of various countries.

bitcoin is now increasingly visible and smells good in the eyes of the world, with lots of support from great and influential people, it will certainly increase the popularity of bitcoin.
like the founder of paypal peter thiel he stated that bitcoin has enormous potential, just like gold, and he said bitcoin also has the potential to change the world. this is why thiel builds or establishes paypal.

Another supporter is also the prince of Saudi Arabia, namely Alwaleed bin Talal, the richest Arab in the world believes that bitcoin will explode like Enron.

I believe slowly bitcoin will continue to increase from all angles and aspects.

Yes, it would seem that they are in a similar case to El Salvador and could try something similar if this candidate wins, but I see it as unlikely. Looking ahead to the next halving, it would be quite interesting if we had a few more countries that had adopted bitcoin, and could take advantage of it with a price increase. El Salvador is holding up despite the price drop, which has brought a lot of criticism to the president, but the bear market is not going to last forever. What argument will the media use to criticise when the price does not stop rising?

It's not so simple. A president in a latin american country can do nothing by himself. Who controls the country are the Congress and the Supreme Court. If he wants to send a bitcoin legal tender proposal he will need congressmen's support, so he has to compose a majority of the house by his side. I don't know how strong the leftwing party is in Argentina right now, but they use to be strong there. Moreover, leftwing is currently in charge of Argentina and if they maintain their influence, it's going to be even harder for the hypothetical president Javier Gerardo Milei to pass his bitcoin project ahead.

Let's hope his pro-bitcoin statements can at least encourage more argentinians to adopt bitcoin against the devalued peso argentino.

Well, it's not difficult to see why The Argentinian Peso is pretty much a joke, they also try to limit a lot the use and distribution of US$, bitcoin could really change things for many people and also businesses. For sure it would be extremely interesting since Argentina, despite all the problems, is a way more important country than El Salvador, with all due respect. And maybe other South American countries could follow...

I also have the same thoughts on this, but at least it will indirectly support more bitcoin publicity. The impact on the price will not be affected by just a presidential candidate apparently supporting bitcoin, but there are bigger things that should move the market.

Even if someone seems support bitcoin today, it doesn't mean that he will fully support it if he wins the election. Yes, we know that he is only an elected government official and of course he cannot work alone, so a change in attitude is very likely to occur afterwards.

Argentina would be an even bigger deal to the price and adoption of Bitcoin, in my opinion.
It is not only the fact Argentina is way bigger than El Salvador in territory and population, but there is also already a well established crypto community there ( as a consequence of the economical situation of the nation).

The only problem would be the opposition to such adoption and pro Bitcoin laws by the political left in Argentina, they are accustomed to have the monopoly of USD and other kind of currencies. They would not be very happy on people being able to fully control their assets the way Bitcoin allows to.

I thought before reading the article that it was just some propaganda that he was using to attract voters to him, but he is leading in the polls, so we can't really know if he wins. But based on what he said, I could think that it would be possible for Argentina to legalize bitcoin as a payment method and use it in their daily transactions, just like El Salvador. I am not thinking of the bull run, but for sure this would affect the price of bitcoin, and I am glad that there are now a few countries sort of legalizing bitcoin.

Sorry but you post in 2023 already, so yeayyyy we will be see mini bull run this year. Oh by the way US inflation rate is declining which is a good news although i think we gonna see mini bull run q2-q4  this year if there no major shit on economic happen so packed it up guys we are gonna moon soon

It is very unlikely that this guy (Javier Milei) will be voted President of Argentina in October. He has around ~25% support, but it is concentrated in certain areas (capital region and some other big cities), and also a lot of people oppose him fervourously.

The reason why it's difficult for him is that Argentina has a two-round presidential election system. It is not totally unrealistic that Milei arrives first place in the first round. There are two major party coalitions in Argentina currently: the Peronists or Frente de Todos (FdT) - current government -, and Juntos por el Cambio (JxC) with UCR and Pro - a center-right coalition, which led the government between 2015 and 2019. According to current polls Milei could aim to get a similar result to these two forces, e.g. all three getting around 25-30%, thus creating a three-party system.

But even if he arrives first or second in the first round, he has to win the second round ("ballotage") too. Here it's becoming complicated for him. He has better chances if he faces a candidate from the Peronists (FdT, current government), because then it could become a center-right vs center-left battle. But the Peronists are very strong in most provinces, so I'd give him around 30% to succeed in this constellation. It's also noteworthy that one of the possible Peronist candidates, current Minister of Economy Sergio Massa, is also a Bitcoin supporter, but has more traditional views about economic thought.

It's very unlikely that Milei wins if he faces a Juntos por el Cambio candidate in the second round though, as JxC is much closer to the political center and would for sure attract also Peronist votes.

I quite agree with some of Milei's stances but not with everything, some of his ideas seem quite otherworldly and utopian (before his Bitcoin "love" he has advocated for an introduction of the US dollar in Argentina), and some even reactionary.

It seems that this will not have much effect on Bitcoin, moreover, we don't know if he spoke like that just to attract more sympathizers or if he really struggled and was interested in Bitcoin. This is actually good news because if more and more leaders or prominent people in a country support Bitcoin then this will be good news. But again I'm not sure if this will really have a big impact on the crypto business. Even the much bigger news has not been able to boost Bitcoin's current condition because it is still in a bearish period. The bullish period usually comes after the halving, so maybe this won't be decisive.

Yes, we haven't got any clear information on the president's view on bitcoin. In recent years bitcoin have begun to coexist with the traditional market. This makes cryptocurrency to be something familiar among all levels of people. Making way for something new will create an attraction and Argentina president is trying to do it. We don't know how effective his statements will make changes in the market. For now the market is moving of its own.

It is unclear whether or not this news is accurate, and whether Argentina's presidential candidate is a bitcoin supporter, but we can't expect to see a substantial change in bitcoin prices or bitcoin markets, since all of these people tend to spread some news in order to gain fame and recognition for their own benefit, but when they actually get power, they will act differently, also as we all know we are still on the bearish market and there is still not any valid signal to say the bear market is over yet, especially when we are at the begging of this year and nothing is clear yet.

We can't expect loyalty from the politicians. Everyone uses all the possible chances to grab some votes. The same tactics is being followed by the presidential candidate. For the same we shouldn't blame him that he took more time. For a presidential candidate it is really easy to show that he doesn't have any banking account.

bitcoin wouldn't go far if it didn't have a lot of people buying it and for those many people to buy bitcoin it is necessary that the politicians who are running the country allow the banks, and even the people to buy bitcoin, so at the end of the day for anything in a country is used and it takes approval from the politicians who are governing the country, it all depends on the politicians. the world has always walked towards centralization (KYC), since its creation bitcoin was already condemned to follow the path of centralization, if a government says: "we are banning bitcoin and it will be a crime for anyone to buy or own bitcoin" then the people of that country will go having to respect that, just think that if all governments banned bitcoin then the price would be much lower than 100$

following this reasoning it is clear that if this guy who is running to be president of argentina becomes president and manages to convince other politicians in the parliament of argentina to pass good bitcoin laws then that would be good for bitcoin, of course the price could even not go up much, but think that you could already travel and arrive in argentina and pay for a hotel with bitcoin, restaurant, tv, electricity, house and car rental with bitcoin, this is not a matter of 100,000 people in argentina wanting to use it or not bitcoin, it's a question that if they pass good laws, even if it's a single person from Argentina using bitcoin, it's already a good thing