Topic: Argentina’s New President Might Just be a Bitcoin Supporter (Read 1941 times)

OP, thanks for sharing. But the article is far fetched and based on nothing.

Even if he was Bitcoin enthusiast himself, there's zero chance he'll implement Bitcoin on any level. If he's goal is to restore faith in national currency and keep control over it, then he may be tempted to restrict BTC trading (at least temporarily) to prevent people to dump Peso for BTC to avoid inflation.

If he's truly positive towards BTC, then the best we could hope for is that he'll opt to keep some bitcoins as part of foreign reserve, something that was suggested for Barbados

By that we can conclude that not many people in the world are technologically minded. That's sad.

Not many recent news regarding this at all. I think it's clear Bitcoin will never be adopted at any governmental or corporate level, it's just too tainted and there were just too many scandals and black market activities. It will of course survive as a very valid storage of wealth and commodity I think.

It's always helpful when they have a president supporting Bitcoin. Life just gets easier and easier every single day. Soon, things will be very better for us supporters and adopters.

We have many unknown miners and supporters. They wanna stay unknown so their president may not speak out about Bitcoin for too long.

Hey it's not complete BS if you read the article itself, we were just speculating about a future implementation of Bitcoin in Argentina, even if its small. But the article itself focus on how Bitcoin is relevant within the inner circle of the President, nothing more than that, and that Macri himself might know about it.

so many comment above me is asking about the truth of this news,and any argentinan not agree with this,and i also think this thread is over,and may someone report this to mod,and i hope not many people have wrong opinion about this news.

Lol, thread is over!

I'm not from Argentina but very close if you know what I mean However I still think Argentina has one of the most active Bitcoin communities, it's just that the title is misleading as most of the articles you see today in every news site.

What do you think about Bitcoin as a refuge from Argentina's peso volatility? I've never understood that because if there's something more volatile than the peso is Bitcoin value!

It's an amazing piece of news, and even tho i would be happier if some other country with better economy was involved in this, Argentina will do for now.
Maybe we can whiteness what adopting bitcoin could really do in real life country experiment. I just hope they don't over reach and set a bad example.

cheers

I am argentinean, my only and true comment is



Stop Dreaming and get real

Exactly, just implementing it slowly as another method of payment and sponsored by the government would be huge for Bitcoin. On the other hand I must say the Bitcoin also has some deep roots in illegal activities so maybe it can face some resistance if the idea is fighting corruption and money laundering.

Cashless society.    

A lot of places do not accept cash nowadays and you can only pay with credit/debit cards.      

All you need as a shop is a cellphone with Internet to confirm a transaction.

Or you could back your currency by Bitcoin but you'd need good currency control then.

This is indeed great news, however I think you guys are mostly missing the point...

Argentina has a small but thriving bitcoin community because citizens have been trying to get a hold of anything that isn't the peso, as holding onto that local currency has for the last few years been the equivalent of losing money, due to the extremely high inflation rate.

As a result, demand for the USD was so high that a black market emerged, and indeed to this day you can see the rate for the Dólar Blue/ Paralelo published in newspapers.  For example, it was that hard to get USD due to the demand being so high that when the official exchange rate was 9.50 pesos to the dollar, you could buy on the black market for 16 pesos a dollar.  And people did it- out of fear from hyperinflation, which the country has experienced many times.

The same was happening with BTC- you had to buy at the dólar blue rate for the same reasons.

Now what Argentina needs is plenty of foreign investment, and the thriving butcoin community that has been developing there would seem to be a step ahead of most of the world.  I think what they are hoping for is to nourish the market by giving start-ups the much needed supportive environment they need to thrive; this activity and the business it brings with it will hopefully lead to a brighter future for the people of Argentina -and in the meantime mitigate peso fluctuation- with the added benefit of much-needed transparency in certain situations.

That are great news for bitcoin community users of Argentina. I don't expect that bitcoin will be used at the same level of its national currency, i only want that they don't stop the growing community of users and don't stop the new startups that work with bitcoin with strange bitlicenses. Argentina needs a lot of reforms, and blockchain applications could help them to fight against the corruption that they have.

Let's not forget that the guy that created Xapo (Wences Caesares) is also from argentina and said that he saw the true value in Bitcoin when he saw his family become a victim of massive national currency devaluation due hyper inflation and goverment control in the ways they could move money.

More and more politicians are getting heated up for Bitcoin and attracted by its technology! This is definitely great news and very good for our adoption and future!

Even if he would be a big supporter of Bitcoin and even if he would like to introduce Bitcoin as an offical (co-)currency of Argentina, then he will not do it. Bitcoin is not practical in the current economic situation of Argentina. It would make more sense to introduce an own decentralized crypto coin with an total unlimited amount of coins and a limited yearly inflation of 1% for example.

if we can reach current value without the sustenance of basically the majority of all countries imagines if even only one goes full bitcoin, the value would touch the sky

good news like this when the price is already increasing can boost it even more, i hope they do not regulate it too much, bitcoin should remain free

I don't know why, but these times only (potential) good news are coming (apart from the fake Satoshi). There couldn't have a better South America country to be Bitcoin-friendly. Argentina has a sort of "prestige" among South America countries since it's among one of the most developped, richest and powerful country of this part of the world. If they do some pro-Bitcoin regulations and his economy restart, some surrunding countries could try to do the same, and a new hotpoint of Bitcoin would be born .

Well we have to start from somewhere right?!
Maybe Argentina is this place from where a bigger adoption will start. If this should happen I think Brazil could be the next country to follow.Let's hope for a domino effect.