It is a bold step Argentina is taking in adopting the use of bitcoin but I will like to know how would bitcoin adoption stop the inflation. Anyway adopting the use of bitcoin will surely have a positive effect and am sure it will also motivate neighbouring countries to see the benefits of bitcoin usage.
Bitcoin adoption won't help to stop the inflation. It shows that the collapse can't be prevented, people don't trust the national currency anymore and look for a substitute. 
Topic: Bitcoin Popularity Soars in Argentina Due to Mass Inflation (Read 531 times)
Countries like Argentina, Venezuela etc which are basically facing an economic crisis right now are already using Bitcoin as one of the primary forms of payment since quite sometime.
Why else do you think LocalBitcoins volume is 2nd highest in Venezuela? Adoption is rising with time and I am loving it.
Why else do you think LocalBitcoins volume is 2nd highest in Venezuela? Adoption is rising with time and I am loving it.
All of us wants to have bitcoin adoption in any part of the world, this will help us grow in number.
Argentina is really open-minded towards bitcoins existence and now they are manipulating it in their economy which is really important and worth it. Bitcoin can really be a tool to fight economic crisis with a proper management and control in the market. Not all countries do have a courage and urge to legalize bitcoin and benefit from it.
Argentina's inflation has hit 55% this year, caused by a collapse in confidence in the peso. As a result, Argentinians are turning to bitcoin as a hedge to further monetary collapse. No matter what the central bank does, inflation continues to rise. Notably, Tim Draper met with the president of Argentina some time ago and suggested the country adopt bitcoin as the national currency.
https://bitcoinist.com/argentina-central-bank-inflation-bitcoin/
Now they already know why bitcoin is really good. Inflation kills every country and probably shutting down their economy. It is a good move for Argentina to turn into Bitcoins. I think this will have an impact in crypto industry since the people are already aware. In future, fiat currency will become useless as every country made bitcoin as their national currency. Argentina will make its first move to adopt certain changes in currency. Is this a new start for a massive popularity in bitcoin? https://bitcoinist.com/argentina-central-bank-inflation-bitcoin/
The Argentinian peso is going down, because of the inflation but I don't think it would massively push people into Bitcoin.
It might be true that there are people that is putting their money into Bitcoin but I think it is just enough to prove that they look at it to be a great way to save themselves from inflation. I think we should see some great changes in the price of Bitcoin if its popularity is actually soaring in the country.
It might be true that there are people that is putting their money into Bitcoin but I think it is just enough to prove that they look at it to be a great way to save themselves from inflation. I think we should see some great changes in the price of Bitcoin if its popularity is actually soaring in the country.
Franco Amati from the Argentinian Bitcoin Community had quite an interesting talk at the recent Online Meetup about the Situation in Argentina. Was very interesting to hear how people on the ground cope and arrange themselves when the government-issued currency is drastically losing purchasing power all the time.
https://bitcoinsaigon.org/global-online-meetup-recording/
His talk was the last one in this meetup - but maybe the most interesting one to me (all talks were great though, the Greeks did an awesome job putting this together!).
https://bitcoinsaigon.org/global-online-meetup-recording/
His talk was the last one in this meetup - but maybe the most interesting one to me (all talks were great though, the Greeks did an awesome job putting this together!).
I'm eager to see what the long term effects of this will be, as it could give us insight into how bitcoin can help other nations dealing with inflation issues, if all goes well of course.
I mean for god's sake, Venezuela' now weighing their currency during purchases, with an inflation rate of ONE MILLION
I mean for god's sake, Venezuela' now weighing their currency during purchases, with an inflation rate of ONE MILLION
This is simply normal, because in economies where there is inflation, people will always look for ways and economies where they can leave the system where they are to be better. The case of Venezuela is where much sells the Bitcoin, operations are impressive, the volume generated on platforms are very large, just as happens in Argentina, because people will always seek economies where they can achieve their financial freedom more quickly, without taking into account the possible dangers, since the dangers that come with being in an inflationary economy, the worst that can happen is that it is lost already, but if profits are generated it will be with large proportions, because when changing Bitcoin for the local currency, will simply escape the average economy of each person in the Country.
Thanks to this economy, many have been able to rise little by little escaping the system of a country by governments and banking, where the only control to have is in the hands of the same people, as it always should be.
Thanks to this economy, many have been able to rise little by little escaping the system of a country by governments and banking, where the only control to have is in the hands of the same people, as it always should be.
Bitcoin is becoming more and more popular in south America after Venezuela hyper inflation all neighboring countries are implementation bitcoin as major merchant acceptance
I am not really sure if adopting bitcoin in Argentina will lessen their inflation rate but I guess they have some strategies to try in order to lessen their inflation and bitcoin adoption is part of their plan.
I can say that it is a good news to bitcoin lovers as it is another step to widen the usage and acceptance of crypto currency especially the bitcoin. But I am very curious and really want to know how the Argentina will use the bitcoin in order to lessen their inflation rate.
As I am sure that many countries will follow if they become successful to their plan.
I can say that it is a good news to bitcoin lovers as it is another step to widen the usage and acceptance of crypto currency especially the bitcoin. But I am very curious and really want to know how the Argentina will use the bitcoin in order to lessen their inflation rate.
As I am sure that many countries will follow if they become successful to their plan.
It is a bold step Argentina is taking in adopting the use of bitcoin but I will like to know how would bitcoin adoption stop the inflation. Anyway adopting the use of bitcoin will surely have a positive effect and am sure it will also motivate neighbouring countries to see the benefits of bitcoin usage.
I have also read as some users who already posted here that many more countries rather than the ones mentioned are going to at least try to make Bitcoin their countries currency.
Nevertheless Crypto is volatile and unpredictable. If it reaches top bottom their economy will follow the same pattern which becomes bad for each private economy and even those linked to those specific countries.
Nevertheless Crypto is volatile and unpredictable. If it reaches top bottom their economy will follow the same pattern which becomes bad for each private economy and even those linked to those specific countries.
first of all when a country is hit with inflation majority of people don't look to bitcoin, and many who were aware of it are still not going to take the high risk of converting their fiat to bitcoin.
This guy gets it. If an economic collapse could translate into a massive wave of bitcoin adoption, then Venezuela, a country suffering a rampant inflation currently at 2.000.000% (according to sources not linked to the govt), then Venezuela would be the first country to adopt bitcoin and every citizen would be using or holding bitcoin, reality is that none of that is actually happening.If the btc volume in those countries is increasing is because the big companies or the upper class are using bitcoin, middle class and lower class, pretty much the majority of the population, have no access to bitcoin or don't even know what it is.
Countries like Argentina, Venezuela etc which are basically facing an economic crisis right now are already using Bitcoin as one of the primary forms of payment since quite sometime.
Lies. Show me proof of the stores accepting bitcoin as the main form of payment in those countries. Pro tip: you won't find any.What actually happens in Venezuela is that they buy what they can the same day they get paid and they try to hold US dollars instead of their currency. This happened in Argentina too back in 2000. USD is accepted by almost everyone. Bitcoin isn't. That's the facts.
It is amazing if ever Argentina is the first country who make bitcoin as a main currency. And if happen in the near future other country will inspired by Argentina. It can make the country progressive and more accessable in terms of payment system and good investment venture that all netizens of that country will benefited.
This will not occur unless the country also adopts Austrian economics and boots all the chicago/keynesians that keep misleading things there.
Simple reason is they FEAR deflation, due to their flawed thinking. There is no way a country would adopt any deflationary currency without also going full Austrian. For starters, go with full reserve banking and close the central bank, you don't need that anymore once you adopt Bitcoin AND full reserve banking.
The only reason things are worsening AGAIN, is because AGAIN a fool politician gave the order to print more money. Never ever again, separate money from State or else sooner or later it will happen.
But as you might have guessed some things are so entrenched you might even need to change the constitution and banking laws, among many other things. You should invite the Spanish Jesús Huerta de Soto, a living Austrian, to give advice to Mauricio Macri. Then you could save the country...
Before making a tough decision to fully adopt bitcoin as a major currency in Argentina, I seriously do hope they are sure bitcoin adoption will help solve the inflation issue the country is currently facing. Anyway, bitcoin adoption is a welcomed idea and am sure it will attract so many investors in the country and also people around the world.
Inflation is something we cannot control that only the government has the power to increase or decrease it by manipulation of things. The good news is that, with the use of bitcoin, we now have the power to somehow contradict this financial problem. Nice move by the way.
That's why we need this market because bitcoin can beat inflation and bitcoin will make financial system more stable I believe. Government is the main reason why inflation are increasing, they need to do that. Inflation will stay that's why we need to look for a good investments like bitcoin and stocks, Argentina is a nice country its people have now more good option where to put their money and earn some bitcoin. 
It is amazing if ever Argentina is the first country who make bitcoin as a main currency. And if happen in the near future other country will inspired by Argentina. It can make the country progressive and more accessable in terms of payment system and good investment venture that all netizens of that country will benefited.
Surely do, if this moved will works more country will also follow this way, government of each nation's will find interest, it will be determined if this first country to consider will succeed from this attempt,a very good news for every crytpo believers and investors.
It is still hard for the Argentinian people to accept a crypto currency in their country with it's volatility rate. Seeing normal traders of goods at the market using Bitcoin as mode of exchange, how would that seem possible? Every moment then and on they must constantly check the price to match the amount that should be paid to their goods. I think a possibly that the country should adapt the Blockchain tech and make their own cyrpto currency, this should be done for all the countries with increasing inflation rate.
It is amazing if ever Argentina is the first country who make bitcoin as a main currency. And if happen in the near future other country will inspired by Argentina. It can make the country progressive and more accessable in terms of payment system and good investment venture that all netizens of that country will benefited.
South American countries like Argentia and Venezuela and Peru and Brazil all countries are now adoption towards cryptocurrencies as the main payment processor due to hyperinflation cryptocurrency is safe of storing money and doing transactions
In developed countries we tend to take stable fiat currencies for granted, and forget that in much of the world people don't know if their paper money will have any value next week, month, or year. Thus, while bitcoin is still highly volatile, its value tends to go up in the long run, making it an attractive alternative in much of the developing world.
Adopting bitcoin is surely a good move. It will help alot of people to sustain their needs. However, it will not reduced their rate of inflation. They can solve it by adding the salary of the people and that is the normal thing to do. But they can't just live their currency since it is an economics crisis.
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