Topic: Javier Milei just won the presidentiial election in Argentina (Read 688 times)

With the emergence of every Bitcoin Maxi as President, just like we have El Salvador, we have achieved one more step to global adoption.

We must encourage them to not just win but also to carry out to the letter, the transitioning of finance system from centralised systems to decentralised system and also to note that CDBC is not a standard system for susbtituting Blockchain technology but a way of only digitising financial control.

Even though Javier Milei was recently elected president of Argentina and he has a reputation for supporting Bitcoin, it seems quite difficult to implement his innovative policy towards Bitcoin or give it the status of legal tender as is done by El Salvador. To implement his policies, Javier Milei will face challenges that will not be easy because he is limited by his party's minority status in Congress, so to be able to realize his policies, he must be able to negotiate with the political parties he criticizes in order to realize his ambitious agenda.

I'm divided on this. In general in Argentina there is a good number of Bitcoin & Crypto businesses as of now, there are about 20 registered exchanges. That's quite good for a country with 46 million inhabitants I think. For example, for exchanges you can see this list/chart site (while there is also Binance listed, most of them are Argentine exchanges).

On the other hand the Bitcoin/Crypto sphere was separated in the last years from the rest of the fintech business. Banks and fintechs offering "digital wallets" cannot offer cryptocurrencies at the same time. That seems however not have influenced the existing businesses negatively. I guess that's something that could change in Milei's government. And there is also the possibility to celebrate contracts directly in Bitcoin, which until now wasn't possible, announced by Milei's close collaborator Diana Mondino, who was one of the speakers at Argentina's biggest crypto/Bitcoin conference LaBitConf.

But there is a little problem: I think I'm not the only one guessing that most of Argentina's crypto industry had a big chance to grow due to the rigid exchange restrictions for foreign currencies. Many for example don't use the exchanges to buy Bitcoin but to buy or sell USDT to be able to own an asset linked to the US dollar. If Milei removes these restrictions then the Argentine cryptosphere could suffer. (Actually this is a situation we had already once, in 2015-19, when there was also a temporary lift. Some crypto exchanges in these years diversified their portfolio and offered also other financial services. And of course these restrictions can't last for eternity, and it's good if they're lifted. Argentina is not Cuba.)

I can however imagine options for the Milei government to counter this negative effect with some measures. For example they could remove the capital gains tax for Bitcoin to put it on the same level than currencies, which would make it very attractive as an investment. That would even make sense for them because if they want to dollarize, they will have to prevent too high demand for dollars (because there are too few dollars in the Central Bank's reserves to dollarize now), and part of this demand could thus be intended to be directed to Bitcoin/cryptos.

I hardly trust politicians, difficult to see one who sticks to his words and promises just after they successfully get into office. They all seem to somehow change.

 If this new president of Argentina is one different and someone who is credible, then we should expect better days ahead for bitcoins in Argentina which will also have a sort of general effect on the price. It will not happen easily because there will be lots of obstacles still for him to surpass to really make bitcoins mainstream in Argentina. It can happen, but may not happen as soon as we expect.

While this is definitely bullish for the people of Argentina, I am not so sure that anything will happen on the bitcoin front. If Milei removes all of the political red tape and bureaucracy that constantly seems to get in the way of bitcoin businesses, there is a chance that good things will happen.

If Argentina just dollarizes and not much else changes, then it will be the same old story for yet another latin American country. As it stands right now, I see Milei as more of a Bukele type player (USD first and then maybe Bitcoin in the future). It all seems too good to be true right now so I don't trust all the hype.

Time will tell. In the meantime, tick tock, next block.

They should, they should if they want to. But I would not speculate much about it. I dont see people use Bitcoin as a daily currency for purchases. How long has passed since Bitcoin got official in Salvador?  Quite a moment. But if you ask cuanto cuesta? Local would tell you the price in dollars.

If my president says "I like Bitcoin and hey folks, lets make it official", I would go to google to check if there arent elections about to happen I believe that locals love their national currency so much, that they value appearance of a new or additional negatively. Its always a headache.

To my regret, cryptocurrency isnt popular enough or is used daily. If it will be announced that I would be able to pay in Bitcoin for everything I want in my country, I would not go and make celebration dance, as I am a realist and I know that people would still stick to EUR or USD, but crypto will still stay as just a nice addition and option.

Doesn't mean they shouldn't, right? IMO even if 5% decide to use bitcoin from time to time, showing them some positive encouragement would be a great move by the government. What would you say if your president told you that he likes bitcoin and wants you to know it will never become illegal in your country? Even such a small gesture of good will would make a change. He doesn't have to make it a legal tender!
The last I heard of Bukele and bitcoin was in 2022 when he bought some more, but I don't really follow him. You'd have to ask Max Keiser or Saifedean Ammous.
Other countries also have big plans for infrastructure that may take decades. Bitcoin city is a really bold attempt and I also doubt a small country like El Salvador can accomplish it, but let's face it, we'd all like to see such city built and without people willing to try there will be no city.


Maybe he thought you're talking about Miley Cyrus Wonder what she would do as a president of Argentina.

What would happen if Argentina defaulted on its debt, similar to what Iceland did?
The IMF is corrupt and it would be great if more countries made a stand against these extortionists.
I don't fully know the state Argentina is in, but the country could create a small economic union with a few countries and show the finger to the IMF.
They're not the only country consumed by debt. They shouldn't default against other countries, but could actually make a stand against the league of banksters.

El Salvador, copy El Salvador, be like El Salvador and etc. You guys rely to much on El Salvador Bitcoin adoption. When was the last time you saw news about El Salvador and Bitcoin? El Salvador does nothing regards Bitcoin. Bukele only used it to gain popularity points. Citizens got their 30 bucks in local wallet Chivo, immediately withdrew it and forgot about Bitcoin. What happens with their Vulcan mining now? Nobody knows. How about Bitcoin city? Nothing. Crypto investments in country? Barely heard something. Even if Argentina adds Bitcoin as legal payment, locals would still use peso and US dollar.

People outside of Argentina inflated this story because they simply don't understand what actually happened there and the only thing that matters to them is that the new president does something positive about Bitcoin and that the price of the same goes up because of that. I also read (and wrote in another thread) that Milei won only thanks to the votes of the former president voters who did not vote for him in the first round, but served as "useful fools" in some political deal that happened behind closed doors.


In other words, he will talk a lot, swear and wave a chainsaw, and in the end, probably nothing important will happen. It seems that people chose him to entertain them, because obviously with his political impotence he will not be able to do anything important.


If at least millions were involved, it is still billions, which makes an astronomical difference.


I don't know why you talk about the president in the feminine gender, although maybe you know something that we don't? I've read some strange things to say the least about his sex life, but that's less relevant, unless he ends his term as a woman

I have no idea what this guy will actually do but at least it's a change compared to the past presidents that, at the end, they were all the same, and we all saw how Argentina's economy kept getting worse and worse over the years. Maybe he'll be even worse, maybe not, but as I said it's nice to see a new face, I can't stand when people keep voting for the same people/parties even though they keep ruining the country.

I guess so, I know that bitcoin is really helping bridge people's finances so I am definitely all for it that they are supporting if they do support it. Also, I have to point out that we also have to worry about if the president has a lot of allies in the senate because that way, if he has something that he wants be a policy then it's not going to meet a lot of resistance. That utilization of USD as a currency is a good move for the country, their record breaking inflation is a big problem.

Well, the other Argentinian reporting here, as my compatriot d5000 said, I think that the hype about putting BTC in Argentina is more outside than inside Argentina, plus Milei never spoke openly about that specifically, if about wanting to dollarize the economy and make it disappear the Argentine peso.


To add something, I see many that compare with El Salvador, and how to say it..... El Salvador is tiny, it does not exist next to the size and economy of Argentina, not to mention its global and regional importance.

Another thing I have read in many places is that he is the elected president with the most votes and that that gives him a lot of power and so on, well, this is not true at all, he did get a lot of votes and it is the largest amount but it was in the second round, in the In the first round he obtained only 30% and "lost" against the ruling party, which obtained 36% of the votes, and the third place was obtained by the one representing former president Macri with 23%.

So what I mean by this is that he does not have all the support that they say he has, he is going to have a minority in both chambers of deputies and senators, and he is going to need a lot of help from Macri's supporters (which he can do that he has to moderate himself a lot), Argentina is also a federal country, although it does not reach the extreme of the United States, the governors are important, and MIlei has...... 0 governors.

The economic situation is impossible to explain to someone who does not live in Argentina, Argentina lives in crisis by the standards of the world, which is true, but if you are in the streets you will not see something like that, but the numbers of Macroeconomics..... man are very very bad. What happens is that Argentina constantly produces a lot of wealth, so we can always end up leaving and repeating the cycle.

To give an example, Argentina has a huge debt with the IMF for almost 50,000 million, the net liquid reserves of the central bank are -15,000 million dollars and there is also a debt for a swap with China. With this numers you are gonna be in BIG troubles.

This is Milei's main problem, she has to try to correct this quickly and without people suffering much, her room for maneuver is very very thin, one mistake and it will go out the window, and the romance will end, remember that only its hard core is 30% and the majority are young, if you disappoint them everything can fall apart very quickly.

Yes. It's better to stay low-key because we still don't know what other things can happen. Aside from the positivity, there might also be negativity. We don't want to disappoint our selves with it. Like you said, they can use Bitcoin mostly for their personal gains but I think this is also better than if they ban BTC.

I mean, people on that country can also use BTC. It'll still grow and we can also feel its effect. Indeed that even without their involvement, BTC can still grow but they are already there, so what can we do? This is another thing that BTC adoption can do. It makes many people and government curious, that they end up trying it and see if they can truly benefit from it. About the anti-BTC policy, I think it's fine if they can interfere with it as that could improve BTC better.

Imho only his messy hairstyle could remind you SBF.

But with president like this: https://twitter.com/visegrad24/status/1726782856511315995 + https://www.youtube.com/watch?v=lAmGhRRpfjo we can expect everything On one thing I am happy for people Argentina, because their president is so alive, so real. On the other hand his future political decisions warries me

Perhaps his future weird decision might be connected with Bitcoin, but I doubt that Argentina would win anything from that. Of course they will get attention, but nothing much more. Milei will play on emotions, like any other politician.

It's not that what you're saying doesn't make sense, but even if the new president has a positive opinion about Bitcoin (or at least he did before), that doesn't guarantee that he'll change anything about it now that he's in power. At one point I realized that Milei actually reminds me a little of Bankman who talked a lot and made promises, but then overnight he burned everything he built.

As for Lagarde, of course she has negative views on Bitcoin, although her focus is much more on stablecoins, which she considers to be the real competition to the euro and one day the digital euro. It is interesting that her son actually has the complete opposite opinion and allegedly invests in cryptocurrencies.


Of course I had heard of her, but somehow I went in the direction of Oracle Of Omaha. However, no matter how you look at it, whether it's about the EU or the US and all the negative attitudes of various politicians and officials, these are parts of the world where Bitcoin has a very strong foothold, whether it's about the number of people who invest in it, or the companies that are connected with trading and investing in the same.

A man who is supposedly pro-Bitcoin in a country where he doesn't actually have the power to make key decisions can hardly change anything in this regard, even if he really wants to.

It's going to be a very difficult challenge for him to actually do what he mentioned he would should he become president of Argentina. But I think he can and will do it thanks largely to those who are truly supporting his crusade.

But I think this isn't really eradicating fiat in Argentina let alone declaring Bitcoin as the replacement. I think he can eradicate the central bank by deciding to stop using the Argentine peso and adopt the US dollar instead. Bitcoin could become what it became in the case of El Salvador, an alternate legal tender.

I do not know much about him, all I know is that he is a populist. Whether he can prove himself to be a competent politician is still the question which needs to be answered. And the answer to that is going to be really important, because he will have a huge voice in the Bitcoin community. Anything negative will affect the drive of Bitcoin adoption. In other words, we really need this to not be like El Salvador. Remember that? Huge PR failure.

I used the head of the central bank to give you an alternative showing how some politicians are negative towards bitcoin. Legarde is influential and hates it. If you were an Argentinian, you wouldn't want someone like that to run the country, or your central bank. So, having a libertarian who likes bitcoin as president is good news. that's the whole point I was trying to make, not to compare what influence this or that person has.

I wasn't talking about Warren Buffett, but Elizabeth Warren. You must have heard the name before. She's one of the people who run the country along with Biden. Biden has no understanding of cryptocurrencies, but she does. Unfortunately, the wrong one.

Milei's party isn't the main one so it's difficult to know what of his propositions he will be able to pass.

The one I find most interesting is the one to "destroy" the central bank and dollarize the economy, other countries use a foreign currency but usually they're very small.

Bolsonaro had the same liberal economical principles during the campaign. That was his proposal against the left wing state intervention. It wouldn't make sense if Bolsonaro had a pro-state speech, since it was the speech of his rivals. Moreover, he put the liberal economist Paulo Guedes on the respective government's sector once elected. However, nothing important has been implemented on that matter, because it's not choleric statements and empty jargons which decide anything in the country, but the judiciary, congressmen and businessmen lobbies.

Milei brought the chain-saw to illustrate what Bolsonaro promised in 2018: to reduce the size of the state, cutting worthless costs. In the end, it was just lies.

Well, maybe you remember Trump was also a Bitcoin supporter back then in 2016, when he was a "threat" to the crooked mainstream. Once president, he totally turned against it, because in his view, BTC could be harmful to dollar currency.

It's easy to say such things when they aren't in power positions. The "ring of power" from Lord of The Rings is a great analogy for these situations.

Milei above all is a politician who is using the political formula classic , yeah the populism works, do not expect drastic changes, bitcoin was a part and not the whole of his political campaign, perhaps if he has time left in his mandate we can get an official reaction from his government for projects related to bitcoin.

In a country which was brought to its financial knees any sort of change "promised"
is going to be the popular one.

I dont think people are stupid "generally" but if you have a choice of having a change
or staying with a failed regime you have to take the gamble. They also must realise
that change doesnt happen overnight and change wont benefit 100% of the population.

I would like to hope that in the worst outcome Bitcoin will be more readily available
to whoever wants to have it, thats if Milei's stance on Bitcoin becomes real.

At least he is an economist. So he should know very well what problems are being faced in his country, namely Argentina. The inflation that occurred there also turned out to be quite surprising. At first I didn't even know that there was high inflation in that country. Because there is very little local news that reports it here. But after I browsed some related news I was really surprised that the inflation that occurred there had reached more than 100% / 124.4% in a year according to this source (databoks.katadata.co.id). And it is clear that with very high inflation it will actually be difficult to control. But Javier Milei, who is pro bitcoin and reportedly doesn't really like Central Bank, has indeed succeeded in getting many people to vote for him. Now it just remains to see what he can prove there. But it seems that even though he is pro Bitcoin, he doesn't seem to have any intention of making Bitcoin a legal tender.

It makes no sense to compare the president of the European Central Bank or a famous US investor with the president of a country because their roles in society are completely different. Regardless of Lagarde's attitudes towards Bitcoin and cryptocurrencies in general, in many countries of the European Union there are perhaps the most liberal laws when it comes to cryptocurrencies when it comes to taxes and the legality of using them.

As for WB, he is simply a 90-year-old man who has spent his whole life doing what he knows best, and this obsession of people that he should accept Bitcoin is really ridiculous and only exists for the reason that people want him to have a positive effect on the price BTC.

---

Obviously, your compatriots think that everything has gone to hell, so they gave such a man a chance, and when everything is taken into account, there is not much logic in hoping that he, as president, will change something, especially when you add to that information that is very important, and that is that there are only about 15% of those he can count on in the parliament. Those who try to compare him with Bukele may not be aware that his party has a majority in parliament, and therefore all his decisions are easily implemented.


Crypto scammer president is a very interesting title, so although it may not be the first, it could definitely be one of the most famous. Such news certainly cannot be encouraging, but regardless of everything we know about the president, I say that he was elected by the people, and they will be witnesses to his actions in the years to come.

It is a hot news that can be used to heat up the market and people like it so they have it to feel exciting. I agree with you that for Bitcoin, it won't create big changes because Argentina, before this President Election in Argentina, was not prohibited, illegal in that nation. So their citizens were already able to access and use Bitcoin as well as cryptocurrency exchanges from decentralized to centralized.

It is Alegal in Argentina
https://newhedge.io/terminal/bitcoin/legality-map
https://coin.dance/poli/legality

Agree with you too. Even Argentina will make Bitcoin legal tender, does it make any big change for Bitcoin? I guess it will not and El Salvador is an example. It is good, I agree, but not is like a nuclear bomb explosion to make Bitcoin massively more accepted globally.

Of course Argentina has had one or other form of corruption since the Viceroys' times But for example the Alfonsín government in the 80s has largely escaped from bigger scandals, it was seen generally as relatively austere, although in the economic policy it wasn't very successful, but that was partly caused by the military dictatorship before which had endebted the country due to a capital flight crisis in the early 80s. The following Menem government however had major scandals (and Menem was condemned actually). The only president not investigated by major corruption issues after 1990 was Eduardo Duhalde whose mandate only lasted for 1,5 years (but Duhalde was always suspected for his time as a provincial governor).

Regarding Milei's similarity to Bolsonaro, I strongly disagree he's "the same" kind of personality or views. Milei is a classic liberal/libertarian, and the rest of his ideology is strongly based on Anarchocapitalist views and the "no aggression principle", while Bolsonaro is a classic far-right nationalist who believes in State intervention (although his economic policy had also liberal elements). Milei has rejected nationalism, he even broke with a major taboo - he believes in the Malvinas/Falkland islands inhabitants' right to self determination.

However, where I can agree is that Milei has connections with other "eccentric" right-wing or liberal leaders like Trump/Bolsonaro/Bukele, and he sometimes uses similar communication strategies. He has also some quite right-wing views like the belief that abortion has to be forbidden (he derives it from the "no aggression principle") and also about climate change, which he has denied in the past.

As we are in Bitcoin Discussion here, I link a article with some of Milei's quotes about Bitcoin. In short, he has stated Bitcoin is an "evolution" of money and that it should compete with other currencies.

The problem is that one single man can't decide what is going to happen on the country. The president is just a sockpuppet of the legislative house, judiciary and businessmen, which compose a major system. If he goes against this mainstream, he is cut from the game.

At some point, just doing nothing isn't enough for this system anymore. The president is "endorsed" to go against the proposals he made during the polls, otherwise he is caught and played guilty by mistakes commited in the past (by him or by people close to him).

People have to be really naive to think the corruption was only practiced by the people from the Kirchnerist regime. In fact, the judiciary and businessmen have been conniving with this practice during the whole time.

The movie being played in Argentina is just a reprisal of the movie played in Brazil in 2018. The structures of power are the same, the personalities of the presidents are the same, the crowd behaves in the same manner.

How can the result be different?

Did you say the same about Bukele?
Cause he opposes abortion, same sex marriage, immigration and so on?
Or is that guy safe because he approves of Bitcoin?


I think you meant to say 1890,  
Anyhow, despite his stunts I doubt Milei can be worse than Massa, and I doubt anyone even users here would be worse than what you actually have as a so called government, even Milei dogs would do a better job simply by not doing a thing!

Exactly. These right wing extremists (like Bolsonaro, Trump, etc) come into power on a wave of anger and hatred and the extremists and angry lemmings that put them in office treat these corrupt extremist politicians like they are some sort of heroes while the rest of the nation and the world watch on in horror as these "leaders" cause terror and chaos and oppression in their nations. Yet, the lemmings who support them will just keep trying to vote in these right wing extremists every single time. People truly never learn.

And we as Bitcoiners should never support such corrupt awful right wing extremists just because they might support Bitcoin. Don't throw away human morality and decency on the faintest whiff that someone might support Bitcoin. We can have sane politicians AND Bitcoin adoption. We should never be single issue voters/supporters and turn a blind eye to these sorts of vile politicians just because they might like Bitcoin. Bitcoin will grow just fine without them, but these nations suffer tremendously under their reign.

---

Yeah right wing extremists always claim they will fight corruption but anyone with any common sense knows that their plan is always just to increase the corruption for their own personal gain. These people LOVE corruption, they just hate when they aren't benefitting from it, and they always increase corruption. Look no further than Trump in the US for a perfect example of that, came in claiming to "drain the swamp", which anyone with any intelligence knew was the exact opposite of what he was planning, and sure enough he turned the govt into one big corrupt racket to enrich his family and friends, creating the most corrupt White House in American history. I have no idea if Milei is anywhere near as corrupt and incompetent as Trump was, but he is clearly of the same mold of being a right wing reality-rejecting extremist, so things are likely going to get a lot worse for Argentinians these next few years. If Milei's reign slightly benefits Bitcoin that is no compensation for the pain he will cause the nation and their people.

As someone from Argentina I have very mixed feelings about Milei. He has been advocating for an economy where several currencies can compete (in this case, the Peso, the dollar and cryptocurrencies), which should be positive for the local Bitcoin community (although it will be difficult to stabilize the Peso, but once it's done, it may last a bit more than in 2002-9). As a content creator before he became politician (e.g. he wrote articles for a financial newspaper and had a show in TV) he also clearly was pro-Bitcoin.

I however don't believe he'll make BTC legal tender (as I think he's not convinced of the concept of a legal tender). He'll simply push for a permissive regulation, probably.

However, I have serious doubts about his leadership qualities. He's perhaps not necessarily a bad person but a choleric guy who often got very ideologic in his discussions with other politicians and journalists (like in the tweet you linked), and has some very excentric esoteric beliefs (e.g. he believes his deceased pet dog Conan sends him messages from Heaven). But if he wants to solve the country's problems he will have to unite experts from several backgrounds and needs talent to negotiate, also because he doesn't have much seats in Parliament (only about 15% of deputy chamber and Senate seats).

By the way Argentina's problems are not only monetary. The worst problem it has is the long history of corruption which is nothing new, it goes back until the 1990s Menem government. Myself I know people who were offered bribes by politicians. Milei has promised to fight corruption and cut unnecessary parts of the administration (his famous "chainsaw" proposal). But his party has been involved in very shady practices when they selected their candidates (see here). And Milei has even promoted a crypto ponzi scam in the past (CoinX). So we could say it's the first time a possible crypto scammer became president?

At least these episodes clearly cast a shadow over his intentions.

I followed Javier Milei from the time when he had declared interest in running for president as well as his numerous campaign promises as well as economic reforms proposed. And right now that he has become the president,  shows how desperate the Argentinians are with their economic system. They have suffered too long under a corrupt economic system and their central bank kept printing pesos for the sake of it, and to reduce the problem to socialism is an oversimplification. Javier Milei is the first president with a background as an Austrian economist, anarcho-capitalist libertarian, and a proponent of Bitcoin. I am very optimistic that Milei will fulfill his campaign promise to shut down the central bank and bring about economic reforms.

It is interesting to hear that Javier Milei has won Elections and he is the next president of Argentina. If he supports BTC it can be good for the Bitcoin. But thing is that there will be the parliament and he can not make any decisions by its own. If he likes Bitcoin so There is possibility that others may disagree with him.

This is exciting news for people who like Bitcoin but we also should think about how it will affect Argentina.
Like here we can see how the El Salvador people react when Nayib Bukele regulate Bitcoin as a legal tender.


https://www.reuters.com/technology/majority-salvadorans-do-not-want-bitcoin-poll-shows-2021-09-02/

So there is possibility that Argentina people can protest like El Salvador people done.
By the way be positive I hope he will make good decisions and try to regulate Bitcoin.

even though I don't know much about Argentine politics, but from several articles I read, Javier is a figure who is critical of the country's central bank and thinks that it is a scam, he is quite pro towards Bitcoin and stated that he will establish a CBDC for that country

he won 55% of the vote proving that more than the majority of the Argentinian people want him to be president, they are fed up with the financial system that applies in the country and want a new system that is more pro-people, and it is right that Javier brings a cryptocurrency system to the Argentinian economy

It's a small step, but a step nevertheless.
People are excited because:
1. Bitcoin supporters are becoming influential in politics and business.
2. It's another proof that countries ravaged by inflation recognize how manipulated fiat is and turn to other things like gold and bitcoin
3. It's possible that Argentina will follow El Salvador in the adoption of bitcoin.

I'm trying to be unbiased here and I don't expect miracles, but would you rather have someone from the other side of the political spectrum? Someone like Legarde in Europe or Warren in the US?
I'd really like to see more Austrian economists on prominent positions in every single country.

Now that his ambition has been fulfilled, let's see wether if he will be a man of his words or not keep to promise, bitcoin is not something that we should just assumed that everyone must go along with us irrespective of how we think they are, i expect him to do as he has promised and even beyond because the people will be expectant of him to act accordingly to how he has promised, he can choose to go by how El-Savador all started with theirs and learn from them, bitcoin in Argentina is going to have a fare regulations for every of its users if the newly elect president do accordingly as he has said during his campaigns.

People never learn. They keep putting expectations and hopes on politicians, even knowing they aren't to be trusted. It astonishes me that argentinians are so hyped about this new president aware about the fact their neighbor Brazil elected Jair Bolsonaro in 2018 under the same flags and proposals of a liberal economy, against the left wing and especially their most extremist concepts like socialism and communism, defending moral values against depravation and corruption, although everything resulted in a big fiasco after 4 years, returning the country to the thieves he was supposed to bury forever from the national political scenario.

Their personalities are similar. They love empty polemical speeches, they are considered "myths" and idolized by their public. That is ridiculous politicians are still being idolized like that. Glad Bitcoin doesn't need these people to exist.

Let the members from Argentina not get angry, but from everything that I had the opportunity to see about their new president, I can only say that after the circus that he will create in his term in that country, it will be even worse than it is today. To me, he looks like some psychotic maniac who lives in some parallel universe where it is normal to wave chainsaws in the sense that he will cut everything that can be cut, and then by some miracle everything will fix itself.

Is this someone who looks like someone who should be the president of one of the biggest countries in the world? I wonder where this world is going and what people are thinking about when they go to the elections.

https://twitter.com/zebulgar/status/1726402110361686344

This news is really good news for bitcoin investors in Argentina but what you said is not wrong. Even if he accepts bitcoin as legal tender or legalizes it, it cannot help their country's economy escape the crisis. As a president, their mission is to find solutions to bring the country out of poverty, move the country forward and develop. The fact that he is a very bullish person on bitcoin is irrelevant here. Furthermore, there is no guarantee that he will continue to be bullish on bitcoin after becoming president, the promises of politicians are unreliable.

The presidential candidate may have been fed up with fiat money inflation in their country and try to offer solutions with bitcoin in his campaign, it is interesting because Brazil is not a small country, I think this will be a good catalyst also for the movement of bitcoin in the future and the adoption is increasingly widespread, me A feeling of not having much time for me to postpone the purchases of Bitcoin spending for Bullrun Season this time.

After ETF, Halving, and now a big news about the adoption of Bitcoin in the country of Brazil, before I had also heard but after seeing Javier's statement openly it made me even more confident.

I think they just don't want to promote bitcoins when it comes to positive views like this one, we have our own crypto media that are really happy to publish such news and they won't hesitate to share it with the people what a wonderful news we have today.

If only they can implement bitcoin as legal tender in their country as well, it could be best for the upcoming bitcoin halving next year and it's a wonderful event to have such a scenario because surely it will gonna increase the number of bitcoins investors all over the world significantly.

I don't know why there is so much excitement over the fact that this man became the president of Argentina, unless someone thinks that the country is a dictatorial state where one man will decide everything? Does he have any kind of power at all or is this function reduced to protocol activities (as in many other countries)?

Even if by some chance he has absolute power and declares Bitcoin to be legal tender, for a country that is in such an economic crisis, nothing important will change because Bitcoin is only a cryptocurrency, not a recipe for solving decades of bad work by corrupt and incompetent politicians.

We have already had discussions on the same topic ->

https://bitcointalksearch.org/topic/m.61547440

Javier Milei has shown so much concern on bitcoin because he knows the potential of bitcoin and I am happy that he has won the presidential election. This will be a relief for the citizens. There is a statement that he made about using bitcoin.
I don't know how he thinks of achieving this because we all know that there is no way that bitcoin can replace fiat because they both work hand-in-hand. Even in El Savador, Bukele didn't get rid of their fiat currency. This makes me wonder if Javier Milei is only a politician that is after buying the mind of his people so that they can vote him into power. Politicians are desperate when it promising heaven and earth just to win elections, and after they have won, they will deviate from their promises. Sven Satoshi didn't make bitcoin to replace fiat. Let him think on how to revive Argentina economy first and not replacing central bank with bitcoin. I will be very glad and excited if he can keep to his words on bitcoin.

This is great news for Argentinians in general just basically to have a new government
in power, it can only get better going forward.


Thats massive for Argentinian Bitcoiners. Hopefully he can deliver on what people
expect and if he does do something with Bitcoin it will be massive.

Hopefully his ideas about Bitcoin and central banks were not pre electorial hot air.

This is Forbes' headline

https://www.forbes.com/sites/digital-assets/2023/11/20/javier-milei-wins-argentine-presidency-with-pro-bitcoin-and-anti-central-bank-agenda/

That, indeed, is glad tidings for Bitcoin loving Argentines; both those living in the country and outside it. It transcends to even our community here as we already can feel the positive vibe. I don't want to share any pessimism of what the newly elected president, Javier Milei, may do right or wrong as that will distract the excitement in the air of his victory. This is worth celebrating because it's a win for Bitcoin and digital economy. Definitely, his policies will further deepen exposure for Bitcoin.

We should not get too excited about what a central government can do for Bitcoin. They are generally geared towards profits and how to boost of their national currency or enrich their own pockets. Whatever steps they take in the process is a means to an end. Liberal governments are good for bitcoins growth but it has gotten this far without much of that.

It also remains to be seen what policies he effects while in office. I will personally be pleased if he at least does not effect any anti Bitcoin policy even if he does nothing in favor of it.

I don't know Javier Milei until I know that he likes Bitcoin, it's just that his task is now quite difficult to recover the Argentine economy from inflation, improve economic growth which is the main target and to accelerate this growth Argentina needs to take decisions that are a little riskier than usual. Adopting Bitcoin can be done like El Salvador, which is now a respected and economically stable country.

Is that what many people expect?

Below is the reason why people say Milei is pro Bitcoin, actually whoever wins is pro Bitcoin

Sometime become an opposition is a good strategy to get people's heart because they see you're in their side, so even though become a president means you're join the centralized system, but they believe the president will try to change and develop the central banks to not become scam anymore.

This could be treated as a different impact on how the new president will act according to the promises he made during the elections. Is there a summarized version of his promises during the campaigning period? Specifically towards the crypto adoption in the country?

Congratulations, firstly, to the Argentine people for obtaining the appropriate choice, and secondly, congratulations to the Bitcoin lovers in Argentina, because choosing a president of the country who loves Bitcoin will be in their interest, and they will certainly receive many facilities in their work.

What is important is that the new president does not abandon his promises and adopt an opposite policy. We are always accustomed to politicians saying things during election campaigns and then doing the opposite after they win.

I look forward to the day when we see the demise of these old governments that understand nothing about Bitcoin and technology and be replaced by young governments who know the true value of Bitcoin.

I do not think the Argentinian government under the new President would make Bitcoin a legal tender. There are too many issues that first have to be resolved by the new President. Argentina is one of the biggest debtors of the IMF which totals around $46 billion.

Do you think they would allow the new President to make Bitcoin a legal tender? The whole Argentinian economy is indirectly controlled by IMF. It is too early to celebrate for now I think we need to wait and watch.

One thing I am certain that the news of his winning did help the Bitcoin price pump once again. If we get another positive news then it could touch 40k this time.

I like to judge the actions of politicians, not their words, especially since Argentina is a large country and it is difficult for one person to change anything related to the economic situation in a country with one of the highest inflation rates in the world.

I have no information about the political situation in Argentina, but after reading the cnn.com report (which may be biased as Trump was mentioned several times), it seems that the man is making a lot of promises.

Even if it were, with this hyperinflation and the people who want to see quick results, they will not risk this option.

When asked about Bitcoin he showed great understanding about how it works. This doesn't necessarily mean that he supports Bitcoin, although opportunistic crypto publications have chosen to push a narrative that almost makes it sound like he's a Bitcoin maximalist. His libertarian beliefs align with many who are bitcoiners and to them his words can be seen as evidence that Bitcoin is gaining acceptance.

Ramaswamy or RJK is not winning any polls. they may have the balls to say stuff and sound like a dem with common sense but they are not winning.

i'm not following Argentina politics but is Milie a populist that can make BTC  a legal tender in the country?
its been said the inflation in Argentina is as worse as Turkeyi inflation.

but because they need a stable price of commodities, its still reasonable to use USD along with BTC like El Salvador.

Argentina is a presidential republic so yes they have senators

bitcoin can help in improving one’s economic status but as a whole bitcoin can help open up transactions from country to country in a more convenient and less hassle way this might also be a good news for the btc community as Argentina has one of the largest population in south america just behind Colombia and Brazil

for now he plans on utilizing the usd as their currency and still no plans regarding btc time can only tell if he makes true to his promises

The right wing loons seem to be happy about this guy. Sounds like he's a reality-denying far right nut job. Sounds like this is going to be disastrous for Argentina unfortunately. A little bit more Bitcoin acceptance should never take precedence over the well-being of a nation. Let's not be silly "bitcoin is all that matters" people guys. Far right wingers taking over any country is never a good thing. Hopefully Argentina gets through this time, the way the US had to with Trump and Brazil had to with Bolsonaro, not to mention plenty of other countries suffering under right wing extremism. Let's keep Bitcoin and politicians separate, and not support bad people just because they might like Bitcoin.

I don't think he's necessarily for bitcoin(neutral as far as I know), but he thinks central banks are a scam lol. Knowing that their currency has like 150% annual inflation(as far as I know), whatever decision he's going to make, one thing's for sure it's going to be very interesting to see this all unfold.

Political pundits said Javier Milei is the Argentine version of Donald Trump and he has come up with various radical policies which include the dollarization of the country, cutting government spending through the reduction of ministries from 18 to 8 and he usually speaks well about Bitcoin. Argentina has an economy that is battered by inflation and other challenges which means that Javier Milei has a lot of work to do to bring back the nation to its past glory.

His positive stance on Bitcoin is a good omen for the community because it will lead to more awareness and adoption. Argentina is the third biggest economy in Latin America which means more publicity and more business opportunities for Bitcoin businesses. But politicians cannot be trusted because they always fail to fulfill campaign promises.  In most cases, these campaign promises are to gain public support and nothing more. Time will tell if he has good intentions for Bitcoin or if he just used to coin to gain support from young voters.

Congratulations to him and his party and hopefully they will deliver what they've promised to the Argentinians because that's what should matter the most above everything that we wish about him being a fan of bitcoin. Now that we got the formalities out of the way, I still have some doubts that it's a big help to bitcoin because there's not much that OP has given to support us on that fact, sure he loves bitcoin but what does that translate to when it comes to policy making because the president's personal interests shouldn't be the one that's taking a priority but if there's a support in the senate or whatever the policymakers group is called in Argentina supports the president in policies that will benefit bitcoin then I don't have any problem and my doubts would be gone about him winning the election. I do hope though that we will see Argentina adopt bitcoin because of their inflation rate constantly going up, I think that bitcoin is going to really help their economy because it's already proven in individual scale that you can save yourself from inflation by moving your money in bitcoin plus there's also the growth of your investment.

That's great. And it actually not just represents how government will treat Bitcoin, but also what people want. And seeing how most of the country is for Bitcoin feels good and inspiring.

I heard.
I have many friends who are from Argentina and most of them are happy to know they will have a different kind of government from what they have experimented for so long.
When comes to Bitcoin, only time will tell whether he will actually favor Bitcoin adoption in the country and also some alternative FIAT, in order to protect the Argentinian people from inflation, how knows... This may be the person Argentina needed in order to face such crisis, though I feel skeptical when comes to politicians who promises to fix macroeconomics.

One must understand what made people in that country to take such choice instead of Massa. They cannot expect to get different results by electing the same people over and over again, I guess.

...

Libertarian candidate Javier Milei has just won as the next president of Argentina.  He apparently likes BTC.  This is good news for us in Bitcoinland, but also good for Argentina (assuming he governs as he said he would).

More details:  https://edition.cnn.com/2023/11/19/world/argentina-vote-milei-massa-nov-19/index.html

Funny how CNN does not mention that...

ZH link:  https://www.zerohedge.com/political/preview-argentinas-consequential-election-sunday