Topic: Regards to Argentinian crisis - why isn't Btc skyrocketing? (Read 5240 times)

maybe they fear losing 10% on one day. On the other hand the argentinian pesos los nearly 20% within 1-2 days against the Euro. But this is only oil and imports, not the bread of the baker...

Their currency is collapsing. So now is a great time to go because your dollah billz be worth a lot.

Look at what a good currency the peso is. Losing value like ship going to the bottom against the Almighty QE-INfinity US debt slave dollar.

North Korea, Cuba, and Venezuela don't look so hot either. :-)

It was the dude printed in 100 u$s bills that said: "They who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety."

Pretty hard to disagree.

Exactly! And i am here in Argentina now, by the way... wish me luck 

Yeah I bought time-shared villas in both and try to spend all of the time in-flight instead

Ukraine is also not a great place to live right now i'd guess.

Have you tried both? 

that is the worst place on earth now to run away to. that and Somalia.

Dont!

What you running from?

What's going on in Argentina? I actually wanted to run away there for a month or two xD

Thankfully the age of "bitcoins being hard to buy" will die in most countries in 2014. Bitcoin vending machines, ATMS, zipzap outlets, the list will get longer and longer. Not every country of course, but most. By end of 2014 it will be as easy to buy bitcoins as beer

This is a great post because it proves that failing world economies are not going to necessarily drive Bitcoin into the billions upon billions.

There are other factors and those factors keep bitcoin price down. While everyone on this forum thinks bitcoin is sitting like a crouched tiger ready to pounce on fiscal collapse it is simply not true.

1) the mechanics of buying bitcoin are simply too difficult. Don't give me all the reasons it is easy. This simple difficulty problem with technology has been 20+ years in the problem solving era. Periodically we have iPhones that come along and tear down the difficulty barriers, but only partially. Bitcoin as technology is inaccessible to 99% of the population.

Think of it this way, training on money happens from the age of 4 when teeth start coming out. You could argue you need no training on money. But getting my non-smartphone, college drop out, mcdonalds working neighbor's kid to ever be in a comfortable situation to buy bitcoin is simply a mountain that this technology currently cannot climb.

Unless bitcoin develops a universally simple delivery mechanism that my grandma on the internet could do after reading one bitcoin article, bitcoin will be a niche investment. Which is why we still need time to develop more technology to support the willing buyers.

2) the penetration of bitcoin owners into society has only just begun. I talk to people EVERY day that have never heard of bitcoin. If I ask someone on the street if the know about bitcoin, some might give me a sideways look like "don't think i am stupid but i really haven't looked into it nor do I care"

not entirely unreasonable, though, when taking a good, hard look at the Argentinian peso.

sure, bitcoin has been really unstable the past few months, tell me more about how +12% (Bitcoin) in the past 30 days is better then -10% in the past 30 days (Argentine Peso)

For your information, the peso has dropped by 10% every month since like, i don't know 2000 or so, at least for 2 years, probably longer

Bitcoin on the other hand, has an average of about +23% a month, and it rarely EVER decreases in value over a 30 day period.

Volitility =/= unsecure

Argentine peso aren't 'volitile' per se, they're on a 'steady' exponential decline. But i'd trade a volatile asset like bitcoin, that is bound to go up in value in the long term over a 'stable' asset that is known to go down in the long term any day.

Because i'm not in for the short time, i'm in for the long term.


Also, while USD may not be AS bad as the peso (at least not right now) it's still pretty bad.

lol

The centralized currency they already have stands a much greater chance of being worthless than Bitcoin; particularly in the short term. I think your opinion is greatly influenced by your own emotion.

The BTC price is volatile for sure, but it's been volatile in an upward fashion.

Nobody can claim to know the future of Bitcoin and we obviously disagree. I believe if the US was interested in shutting down BTC they would have taken that position after the Silk Road at the Senate hearing... I don't see that changing now.

OP is a troll. Only a troll would expect a country in a financial crisis to invest the little money they have left into something as unsecure, unstable, unreliable and volatile as bitcoin. Bitcoin = death sentence for them. You really think they are going to buy digital codes which could be worth $0.01 tomorrow, instead of bread, or milk for their children?

OMG, that is so sad.