Topic: Crisis in Argentine - page 3. (Read 4387 times)
The juxtaposition of a blind giant and a rising multi-headed behemoth.
This tool is very useful, infinitely more useful, most of bitcoins features are still dormant right now.
In Argentina this could bring balance to their nation on economic policy, an escape faucet to stabilize
the economy.
Somehow, I believe, the inflationary currencies have created a false environment a giant bubble that
believes that resources are infinite if you only print more money; this serves to only rob far more
wealth than inflation can take, by giving the top players more ammunition, more opportunities to
steal from the poor and give to themselves. Does this community see this? They are getting richer,
establishing more power by magnifying what they(The powerful) can do vs us, the ones being stripped
of our economic voting power. One cannot vote or think in a society that demands every drop of your sweat.
This is happening in Argeninta, a nation that i do not believe works for the people as even a communist
nation would, just one that forces it's people to do as they say through economic terrorism; A small cheque
is just as effective as a gun to motivate people into doing what they do not want. Such a small nation
should not be playing with it's wealth in the way it is, even if they have oil, one cannot drink oil or
build a foundation with it when the larger world has the materials you need to establish it.
They stopped the dollar exchanges, not realizing the larger world uses it to lubricate the goods exchange process.
They nationalized their oil infrastructure without compensating the companies that worked for it bringing on the
wrath of the world banks, further marginalizing their own power in the world.
Even if this is all ideological, they have done a terrible job of boycotting the empire they perceive, so naive...
They could have played to their strengths and used economic forces to bring more resources into their fold,
or mobilized the people from the grassroots, arming them with the skills they need to bring those valuable
resources into their country; Instead they are stuck in the same latin american bullshit mentality of being
their own little banana republic dictators, that is not even remotely close to true socialism.
This tool is very useful, infinitely more useful, most of bitcoins features are still dormant right now.
In Argentina this could bring balance to their nation on economic policy, an escape faucet to stabilize
the economy.
Somehow, I believe, the inflationary currencies have created a false environment a giant bubble that
believes that resources are infinite if you only print more money; this serves to only rob far more
wealth than inflation can take, by giving the top players more ammunition, more opportunities to
steal from the poor and give to themselves. Does this community see this? They are getting richer,
establishing more power by magnifying what they(The powerful) can do vs us, the ones being stripped
of our economic voting power. One cannot vote or think in a society that demands every drop of your sweat.
This is happening in Argeninta, a nation that i do not believe works for the people as even a communist
nation would, just one that forces it's people to do as they say through economic terrorism; A small cheque
is just as effective as a gun to motivate people into doing what they do not want. Such a small nation
should not be playing with it's wealth in the way it is, even if they have oil, one cannot drink oil or
build a foundation with it when the larger world has the materials you need to establish it.
They stopped the dollar exchanges, not realizing the larger world uses it to lubricate the goods exchange process.
They nationalized their oil infrastructure without compensating the companies that worked for it bringing on the
wrath of the world banks, further marginalizing their own power in the world.
Even if this is all ideological, they have done a terrible job of boycotting the empire they perceive, so naive...
They could have played to their strengths and used economic forces to bring more resources into their fold,
or mobilized the people from the grassroots, arming them with the skills they need to bring those valuable
resources into their country; Instead they are stuck in the same latin american bullshit mentality of being
their own little banana republic dictators, that is not even remotely close to true socialism.
must suck for those argentines who bought btc recently as they lost more in btc than their inflation
Bitcoin could go up again, but I really doubt the Argentino money has any chance of going up.
Doug Casey is the only foriegner I've read to understand the madness of Argentina when he says (not exact quote) - 'They have these young people in power with optimism idealistic thinking, almost communist'.
That matched my experiences when I was living there. It's a thinking that everyone can be equal and free. I kind of like this. The problem is that it's all done manually - like in communism, this is too inefficient to work and nobody seems to have the brains to use the market rather than fight it.
The inflation has been high for years and years. Everybody's hardened to it and used to fighting to avoid the gov monster. Everybody trades USD cash in the black market so Bitcoin is an easy adjust. The mailing list is busy now but very quiet. A very long way to go before people are using it as they do the dollar.
The best way for them I think would be to buy Jalapenos. Other than that, many have secret accounts outside the country. Many have family members in places like the USA in order to escape some way financially.
That matched my experiences when I was living there. It's a thinking that everyone can be equal and free. I kind of like this. The problem is that it's all done manually - like in communism, this is too inefficient to work and nobody seems to have the brains to use the market rather than fight it.
The inflation has been high for years and years. Everybody's hardened to it and used to fighting to avoid the gov monster. Everybody trades USD cash in the black market so Bitcoin is an easy adjust. The mailing list is busy now but very quiet. A very long way to go before people are using it as they do the dollar.
The best way for them I think would be to buy Jalapenos. Other than that, many have secret accounts outside the country. Many have family members in places like the USA in order to escape some way financially.
Nicely written. One hopes that bitcoin becomes a tool to protect oneself. :-)
Ultimately bitcoin will succeed because of the failures of those managing national currencies, of which Argentina's is currently in crisis.
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must suck for those argentines who bought btc recently as they lost more in btc than their inflation
That's today. Situation could be entirely reversed tomorrow. Who knows. 
must suck for those argentines who bought btc recently as they lost more in btc than their inflation
Ultimately bitcoin will succeed because of the failures of those managing national currencies, of which Argentina's is currently in crisis.
The rush to preserve value in an inflationary economy will produce a mad rush for any asset, including bitcoin. But at first very few people will know about bitcoin. But later, as info spreads, that will change, and people will realize that holding bitcoin is better than holding other hard assets that need to be converted later on to get value out of them, whereas bitcoin is a currency already.
The reason all fiat currencies must inevitably move into crisis is because the incentives on politicians always push them towards inflation. And inflation is counter to the welfare of the populace. Thus, under enough pressure, the government pursues a dramatically inflationary policy instead of the safe marginal one, resulting in an eventual repudiation of the currency.
The ability to inflate a currency constitutes an existential threat, or 3rd party risk, of using a managed currency. Bitcoin, as an unmanaged and unmanageable currency, is inherently safer for value store--which is one of the primary uses of money.
This is just one of the reasons why bitcoin is a better money than any fiat currency.
But when any fiat currency moves into crisis and the predictable and oft-repeated act of flight into capital goods occurs, in the past there was virtually no way out. You'd buy anything and everything and then convert back to fiat at a later date.
But now, today, in this century, there is a way out in the form of cryptocurrencies.
When people live through a national currency default, they lose typically an entire generation's worth of wealth, decades at a time. That sort of psychic-shock is not easily dismissed. Look at people from the Great Depression in the US who got in the habit of never throwing anything away, became hoarders, because of what they went through.
The idea that with bitcoin, one can never again have their wealth stolen from them by the mechanism of inflation will come to be seen as far better than stuffing bills under your mattress and the like.
The next two decades will be very interesting in financial terms to see if the US and other currencies hold onto stability, or we go into an all-out fiscal trade-war, of which on bitcoin can be the winner.
The rush to preserve value in an inflationary economy will produce a mad rush for any asset, including bitcoin. But at first very few people will know about bitcoin. But later, as info spreads, that will change, and people will realize that holding bitcoin is better than holding other hard assets that need to be converted later on to get value out of them, whereas bitcoin is a currency already.
The reason all fiat currencies must inevitably move into crisis is because the incentives on politicians always push them towards inflation. And inflation is counter to the welfare of the populace. Thus, under enough pressure, the government pursues a dramatically inflationary policy instead of the safe marginal one, resulting in an eventual repudiation of the currency.
The ability to inflate a currency constitutes an existential threat, or 3rd party risk, of using a managed currency. Bitcoin, as an unmanaged and unmanageable currency, is inherently safer for value store--which is one of the primary uses of money.
This is just one of the reasons why bitcoin is a better money than any fiat currency.
But when any fiat currency moves into crisis and the predictable and oft-repeated act of flight into capital goods occurs, in the past there was virtually no way out. You'd buy anything and everything and then convert back to fiat at a later date.
But now, today, in this century, there is a way out in the form of cryptocurrencies.
When people live through a national currency default, they lose typically an entire generation's worth of wealth, decades at a time. That sort of psychic-shock is not easily dismissed. Look at people from the Great Depression in the US who got in the habit of never throwing anything away, became hoarders, because of what they went through.
The idea that with bitcoin, one can never again have their wealth stolen from them by the mechanism of inflation will come to be seen as far better than stuffing bills under your mattress and the like.
The next two decades will be very interesting in financial terms to see if the US and other currencies hold onto stability, or we go into an all-out fiscal trade-war, of which on bitcoin can be the winner.
It is difficult to say how will Bitcoin perform in the very short term, specially since its value has risen significantly in the last few months.
Argentina's monetary policy is in shambles, approaching an inflation rate of 25% per year as stated by unofficial statistics. The government responds it is "only" around 10%, but nobody really believes that, and in fact, Argentina has already been reprimanded by the IMF for not giving accurate inflation data.
On the other hand, Venezuela has already introduced rationing in some basic food products, so inflation can shoot up even higher there.
I hold bitcoins for the long-term, because inflation and asset confiscation has been commonplace along history, and we humans have not changed that much in all this time, so it is very likely history will repeat once again.
Argentina's monetary policy is in shambles, approaching an inflation rate of 25% per year as stated by unofficial statistics. The government responds it is "only" around 10%, but nobody really believes that, and in fact, Argentina has already been reprimanded by the IMF for not giving accurate inflation data.
On the other hand, Venezuela has already introduced rationing in some basic food products, so inflation can shoot up even higher there.
I hold bitcoins for the long-term, because inflation and asset confiscation has been commonplace along history, and we humans have not changed that much in all this time, so it is very likely history will repeat once again.
Argentina has been in crisis for 20 years. They are out of an Ayn Rand novel. The unions and government run the show. In 2008 the exchange rate was about $0.32/ARS, today it is $.18/ARS. Thus, if I were Argentine, I would start to convert ARS to bitcoin, tin, aluminum, and nickel.
I have heard a lot of stories about Argentine and people said it could be another cyprus.
I personally have friends out there crazily try to buy bitcoin from me.
They said there money worse less and less each day and their govt doest seem to be very promising
Could this raise bitcoin price like the one in april?
whats your thought?
I am really interested to hear ideas from mates from Argentin
I personally have friends out there crazily try to buy bitcoin from me.
They said there money worse less and less each day and their govt doest seem to be very promising
Could this raise bitcoin price like the one in april?
whats your thought?
I am really interested to hear ideas from mates from Argentin
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