Argentine President sees no reason to oppose Bitcoin adoption - page 2.

Viscore

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Quote from: dkbit98 on August 14, 2021, 03:54:55 PM

South America catches Bitcoin fire and it's spreading like wildfires, but let's wait for official confirmation when Argentina adopts Bitcoin.
It is good that President Alberto is positive towards Bitcoin, but I think there are a lot of forces inside Argentina that will be against Bitcoin, because they are sponsored by central banksters.

The final decision still relies with the last say of the President. The good thing about this is the leader of Argentina is very positive that bitcoin can make a great difference in their country. And yes it is. The price inflation will now be gone once bitcoin will be adopted legally as a currency in their country.

I think El Salvador has made a great impact to other neighboring countries or even to those who are far from it. Honestly, i also don't see valid reasons why such countries don't want to accept bitcoin knowing it can be beneficial in regaining the strength of their economy after what pandemic has did.

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Quote from: dkbit98 on August 14, 2021, 03:54:55 PM

South America catches Bitcoin fire and it's spreading like wildfires, but let's wait for official confirmation when Argentina adopts Bitcoin.
It is good that President Alberto is positive towards Bitcoin, but I think there are a lot of forces inside Argentina that will be against Bitcoin, because they are sponsored by central banksters.

Negative forces would always be there and it isnt something new because we know that we cant really please everyone. Any news of adoption is always been a good thing and hopefully that this would open the eyes

of other countries about accepting or adopting bitcoin rather than on banning or prohibiting it.For sure there are still lots of countries which are still on neutral side where they do still tend to observe on what would

gonna happen or whats the other countries taking about it and might able to act out if they would really be seeing some good things that will give out on adopting it.

dkbit98

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South America catches Bitcoin fire and it's spreading like wildfires, but let's wait for official confirmation when Argentina adopts Bitcoin.
It is good that President Alberto is positive towards Bitcoin, but I think there are a lot of forces inside Argentina that will be against Bitcoin, because they are sponsored by central banksters.

taufik123

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Argentina seems to be inspired by the State of El Salvador which first accepted bitcoin. Argentine president Alberto Fernandes said he agrees with the idea that crypto will play a bigger role in the Argentine economy. The high interest in crypto certainly should be with great caution.

Argentina is still thinking and conducting ongoing research whether it is true that it will accept bitcoin or not, because it seems that bitcoin acceptance in Argentina is still a prolonged discussion and will not be realized in the near future. But the president of argentina has an open attitude on bitcoin which certainly does not rule out the possibility that there will be an opportunity for bitcoin to be accepted.

Fesatmas

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I agree any country that wants to try to adopt Bitcoin is a good move, but that goes back to how the amendments of countries consider Bitcoin to be a value which and withstand any kind of inflation. So far Argentina has had another opportunity to improve its fiat, because what if it is still in a hurry to make decisions and because it sees El Salvador and the countries that have adopted Bitcoin as payment. Argentina must involve all the interests of the government and a well-thought-out plan to implement a detailed payment system. They need to hold a special meeting with the bank in their country and take the right steps to make a decision.

isaac_clarke22

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Quote from: mindrust on August 14, 2021, 02:51:03 AM

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I don't see why would anyone would see Bitcoin as a threat anyway. If Bitcoin was meant to destroy local currencies then it should already have been able to back in 2010s. People would still be able to transact BTC without taxes through p2p though. The only way that I think that they can get some tax out of every BTC transaction especially in merchants is by using custodial wallets.

BrianH

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Quote from: Poker Player on August 14, 2021, 08:53:57 AM

I saw the news and it caught my attention as well. A country that has hyperinflation for a long time because of how accustomed its rulers are to spend, and in one or continuous flight forward, does not see problems with Bitcoin? WTF? Surely because they see a business opportunity in being among the first to adapt, like El Salvador, because otherwise I do not understand.

I guess when you compare smaller countries' "hyperinflation," Bitcoin volatility looks practically stable!

It seems the smaller countries will become rich off of Bitcoin while the first and second world countries are going to become poor. Wealth will become concentrated in these smaller companies that realize the economic benefit from mining and development and leave places like the US, Europe, China and India, unless people convince their political representatives that they should have the freedom to access cryptocurrencies.

The problem is, the more powerful countries are controlled by the elites and banks, who don't want to lose their control. These smaller countries have less stable central governments, but that also means their central governments have less power over them financially. There is no tech oligarchy lording over them and spying on their every transaction. In a weird way, they have more economic freedom.

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Quote from: buwaytress on August 14, 2021, 10:39:49 AM

Just a populist statement really, I would feel. Argentinians haven't been on the crumbling fiat yoke as bad as the Zimbabweans or Venezuelans but they've been feeling the pinch all right and the US dollar's the preferred coin there, even if begrudgingly. They want a change, they want something a bit (a lot) better than what they've got. I can't say if Bitcoin's the answer for them but the president knows he has nothing to lose to seemingly support it.

Yea from the statement they want a change and a bit more control over their "currency"
in a time when inflation is rising. Using the U.S Dollar doesnt give them any control when
the U.S devalues it.

Quote

I don’t want to go too far out on a limb but there is no reason to say ‘no’. Perhaps that is a good path to take […] Everything is possible.
They say the advantage is the inflationary effect is largely canceled out.

We have to admire hi for even considering it though, its a bold move and an unpopular move
in the eyes of many other governments.

There is also the consideration of how to make Bitcoin work when coupled to a countries financial
policy or visa-versa, fitting a countries economy around Bitcoin!

Quote

It’s a global debate, and I must confess that it’s a topic [that should be approached with] caution. In my case, there is caution because of how
unfamiliar it is and because it’s hard to understand how this fortune materializes.

Kittygalore

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Quote from: nightxglow on August 14, 2021, 11:30:25 AM

What the president said is true though, there's no reason for them to oppose bitcoin adoption, since bitcoin surely has many advantages that can help the country. Even if there will surely be some minor problems, but if the country is ready and want to adopt it, they will make sure to prevent any trouble heading and prepare the best for it right? It's good enough if the country shows an interest in bitcoin adoption, if then the plan is carried out, then it will be a great step for bitcoin acceptance in the world.

That's because we are biased towards bitcoin remember that the economy and bitcoin isn't linear that if we were to add two and two together, we will experience prosperity. No, that's not how that works, there might be some aspects in the economy that might be destroyed when bitcoin gets adopted, so not all countries share the same sentiment as the Argentine president.

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Most third world countries fight high inflation and a devaluation of their reserve currencies. High taxes and VAT are also making foreign investment difficult, because these companies can just chose to shift businesses to countries with lower taxes. If a currency like Bitcoin can be used, it will cancel most of these problems.

With a Gross Domestic Product of about $400 billion, Argentina is one of the strongest economies in Latin America, so it will be great if they could accept Bitcoin as a currency. Wink

Coyster

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The president also responded to questions about the country's possible CBDC plan, thus that makes this news somewhat interesting, it'll be great to finally get to see a country that understands that Bitcoin is decentralized, while CBDC are centralized, meaning that they are in no sort of competition whatsoever, and there is no need to start issuing sanctions or bans to stop the growth of Bitcoin. The thing is, I think the Argentine government are somewhat aware that Bitcoin isn't opposing their fiat currency, thus there is no reason to oppose it or try to prevent it's citizens from using it, but we would have to keep our fingers crossed on what actually the governments plans are.

SFR10

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Unfortunately, that's just another article with a misleading headline... The part where he said "there's no reason to say no" was meant for their own CBDC, not BTCitcoin!

Quote from: Leviathan.007 on August 14, 2021, 02:01:11 AM

The head of state believes that the use of bitcoin can neutralize the effects of inflation.

I didn't like the fact that he pointed to both BTCitcoin and their own CBDC ^{[if there'll be any]}, as a way to indirectly tackle issues surrounding inflation.
^{- Clearly, he doesn't want to go with a route ^{[direct approach]} that happens to be a lot easier ^[SMH].}

nightxglow

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What the president said is true though, there's no reason for them to oppose bitcoin adoption, since bitcoin surely has many advantages that can help the country. Even if there will surely be some minor problems, but if the country is ready and want to adopt it, they will make sure to prevent any trouble heading and prepare the best for it right? It's good enough if the country shows an interest in bitcoin adoption, if then the plan is carried out, then it will be a great step for bitcoin acceptance in the world.

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Quote from: Leviathan.007 on August 14, 2021, 02:01:11 AM

There seems to be a growing interest in bitcoin and cryptocurrencies in South and Central America, with Argentina also pointing to the acceptance of bitcoin.
...//.....
Source: https://btcpeers.com/argentine-president-sees-no-reason-to-oppose-bitcoin-adoption/

The regions you mention have been in a trend for years to accept what bitcoin means as a means of investment and currency. Only, as always happens, politicians are attracted to bitcoin, because it is news and they know that there are votes there, why they had not spoken before, at least any other politician who shows that he had bitcoin in his thoughts as an economic tool, deserves more credibility when mentioning the subject.

Now, that does not remove good intentions and Argentina has something of that mix of situations that must occur, at least the ventures, exchange, and that effervescent spirit for bitcoin exists in "part" of the population.

I think that initially for an adoption as a local currency it is not so much about what the politicians think or as they exercising their power of speech around bitcoin, it is about people in how they develop individually and collectively in relation to the Bitcoin environment .

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Just a populist statement really, I would feel. Argentinians haven't been on the crumbling fiat yoke as bad as the Zimbabweans or Venezuelans but they've been feeling the pinch all right and the US dollar's the preferred coin there, even if begrudgingly. They want a change, they want something a bit (a lot) better than what they've got. I can't say if Bitcoin's the answer for them but the president knows he has nothing to lose to seemingly support it.

hugeblack

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The new thing in this news is the beginning of understanding and accepting Bitcoin instead of saying that it is a currency that is used to promote drugs or terrorism and is not a model for quick and easy profit.

I am not interested in accepting Bitcoin in Argentina because it requires people to use and understand Bitcoin which will take a little time.

Poker Player

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I saw the news and it caught my attention as well. A country that has hyperinflation for a long time because of how accustomed its rulers are to spend, and in one or continuous flight forward, does not see problems with Bitcoin? WTF? Surely because they see a business opportunity in being among the first to adapt, like El Salvador, because otherwise I do not understand.

The Cryptovator

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Although the most developed country doesn't allow Bitcoin officially but very rarely do they oppose it. Because Bitcoin keeps role on a national economy & would help the growth of the economy as well. I believe day by day a major part of developed countries would start accepting Bitcoin. The problem only developing & poor countries. Because even they can't analyze Bitcoin technology properly. I am saying it because my government even not encourage me to analyze Bitcoin technology where developed countries have been accepting Bitcoin.

cryptomaniac_xxx

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I kinda interpret it as a wait and see attitude, he is not sure about it because of so many issues, like volatility and it's supposedly (psuedo) anonymity. But if the neighbouring countries go full bitcoin mode, then there's no doubt that with any sitting President, it doesn't make sense to oppose bitcoin because they might be left out.

Karartma1

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Despite Argentina's strict currency controls, the current president has a broader, modern, digital vision. In fact, he noted the growing perception of Bitcoin as a hedge against inflation in the global economy.
However, highlighting concerns about Bitcoin's price volatility, he stated that cryptocurrencies are a social-economic topics that should be approached with a good deal of caution.
Whenever you want, President, we are ready.
To be noted that Argentina has one of the most exciting bitcoin communities in the world, lots of great bitcoiners from there.

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