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.
Topic: Bitcoin Popularity Soars in Argentina Due to Mass Inflation - page 3. (Read 612 times)
I remember Tim Draper encouraging the Argentinian president on accepting bitcoin and crypto-related institutions and services within the country to boos the economy of the nation. With the Peso continuing to slide further from an acceptable value, bitcoin seem to be a viable option for citizens to adopt and use within their daily transactions, just like what's happening in Venezuela right now. In cases like these, we can see how well bitcoin is useful since it can be used as a hedge on countries where economic instability remains rampant, and the national currency's value keeps on suffering for such events.
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. there are lots of other options (simplest and most common one is gold) that they use. so you can't say "Argentinians are turning to bitcoin" in general and leave it at that.
secondly if they were doing that then price should have gone up with a big surge which clearly has not.
Google trends do NOT indicate anything!!!
secondly if they were doing that then price should have gone up with a big surge which clearly has not.
They are 55th on the google trend :/ Do they use other search engine?
Google trends do NOT indicate anything!!!
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/
https://bitcoinist.com/argentina-central-bank-inflation-bitcoin/
Yep, I remember Tim Draper talking to the President and whispering that bitcoin should be treated as a local currency because their fiat has not value at all.
Anyways, it makes sense that people are going nuts on bitcoin either as hedge or just a means to survived.
It was also reported that bitcoin has been reaching records high in localbitcoins volume, indicative that Venezuelan's are turning into bitcoin as we speak.
Why do people in this country choose Bitcoin as an alternative currency? But it is significant that this is excellent news as it is pushing people closer to Bitcoin. I think everyone in this country should choose USDT because of its stability and 's Stable coin.
This trend is not only in Argentina, but also in Bolivia and many other countries that are in crisis at the moment. And the past few years, this trend has only intensified. And this despite the fact that cryptocurrencies have fallen dramatically in price in 2018. This confirms the fact that people in many countries of the world continue to believe in cryptocurrencies and see them as a perspective. It seems to me that the development of cryptocurrency strongly inhibits the actions of regulators from different countries and the uncertainty regarding the interaction of cryptocurrency with the existing financial system. As soon as there are clear rules of the game, big money will enter the market and we will see a new bull market.
Argentina economic crisis have been on the increase with they inflation rate rising above 50% it definitely time to look for a way out of this economic war and cryptocurrency is the alternative to the failed traditional currency in that nation.
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/
https://bitcoinist.com/argentina-central-bank-inflation-bitcoin/
They are 55th on the google trend :/ Do they use other search engine?
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/
https://bitcoinist.com/argentina-central-bank-inflation-bitcoin/
Interesting, if ever Argentina would be the first country to make bitcoin as it's main currency. But, the question is will this really help solve the inflation. What will be the total effect of making bitcoin as their currency once the market crashes drastically (knowing that crypto market is volatile.)
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/
https://bitcoinist.com/argentina-central-bank-inflation-bitcoin/
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