Last I've watched anything about Argentina, it was saying that the economy is stagnating. I don't think Bitcoins would make a significant difference for their economy though.
There may be small benefits to legalizing it though since it may facilitate entry of capital from elsewhere. For example people selling digital goods and services have another way of receiving payments.
Topic: Tim Draper Encourages Argentina’s President to Legitimize Bitcoin (Read 181 times)
March 27, 2019, 07:28:13 AM
Yes, this is true in respect to the terms and given that Argentina isn't having any crisis with her economy unlike what we had with the Venezuela economy and how Maduro snuggled in Petro. But come to think of it I do believe that countries should on their own adopt one form of cryptocurrency or the other without any coercion from any quarters. It's the rave of the moment and no one should go against the tide.
Speaking of Venezuela, during the last two blackouts, how convenient was to use bitcoin and dash?
that is a stupid decision, and it seems like Tim is either a big idiot who doesn't understand economy or he is trolling the whole country while trying to hype bitcoin up!
we all love bitcoin and we know of its potential but to declare it as a national currency today that price is still very volatile and there is manipulation in the market and also the whole thing is still small, is a terrible idea. and we know that this situation is not going to change for many years (probably another 5 to 10 years of same type of volatility). something like that can wreck the economy of the country more than its own currency even if their local currency is losing its value.
we all love bitcoin and we know of its potential but to declare it as a national currency today that price is still very volatile and there is manipulation in the market and also the whole thing is still small, is a terrible idea. and we know that this situation is not going to change for many years (probably another 5 to 10 years of same type of volatility). something like that can wreck the economy of the country more than its own currency even if their local currency is losing its value.
Or both and I'll add imbecile on top of it.
Seriously permabulls and permabears are so similar, there isn't a single moment they aren't trying to turn themselves into the laughingstock of everybody that hears them.
Before claiming that BTC once legalized will help their economy, how about he comes with ONE single example of a country where cryptos have helped their economy? One example with facts!!!
And when I see all those spammers here praising something they don't have a clue what it means or what would imply...
It's not just Argentina. Blockchain and crypto coins are a nice opportunity for every country experiencing economic development. It's very important to use it just right.
It's also very important that you go......
March 27, 2019, 05:55:22 AM
It's cool the guy had a chance to meet the president, but his bet sounds unrealistic and I bet the president thought it was a joke. Not to mention that it might as well be that it's not up to president to choose the national currency. Moreover, even though I like the idea of bitcoin as money, it seems clear that bitcoin itself cannot be adopted that widely. How will people buy food in the supermarkets, waiting around an hour for network confirmations? Someone might of course take the responsibility for this part, but this will mean there's now an intermedairy that will probably charge additional fees. And bitcoin fees are okay when the network is not busy, but we've seen how high they can be. I think that bitcoin as we have it nowadays is not apt to the task. Lightning network might be a viable solution, though.
Yes, this is true in respect to the terms and given that Argentina isn't having any crisis with her economy unlike what we had with the Venezuela economy and how Maduro snuggled in Petro. But come to think of it I do believe that countries should on their own adopt one form of cryptocurrency or the other without any coercion from any quarters. It's the rave of the moment and no one should go against the tide. 
March 27, 2019, 05:07:55 AM
What's the point in comparing a single peso with 1 bitcoin? It is the same as investing 100$ into bitcoin or ETH. From investment point of view there is no matter what is the current price. THe only thing that matters is a % of future growth.
Also central banks are not trying to deflate the price of their currency so crypto is not that relevant to the global economy.
Also central banks are not trying to deflate the price of their currency so crypto is not that relevant to the global economy.
Exactly right. I don't really get people who say it's cheaper to invest in ETH than in BTC, or even in USD than in GBP. It's the same result whatever you choose to invest in. Units of the currency don't matter, it's how much they're worth that does, and how much potential you feel there is for growth, and the level of risk you're willing to put up with.
I do agree crypto's not relevant YET but in the future who knows?
March 27, 2019, 03:35:35 AM
Tim Draper is doing great things for bitcoin by talking to world leaders and encouraging them to save their economies by adding bitcoin as a supporting currency. Majuro should have done that before
March 27, 2019, 03:16:55 AM
Tim Draper the visionary who is behind the bitcoin prediction it is advisable to take his prediction for country economic future and south American countries necessarily need to adapt to bitcoin as best alternative
March 27, 2019, 02:35:44 AM
It's not just Argentina. Blockchain and crypto coins are a nice opportunity for every country experiencing economic development. It's very important to use it just right.
March 27, 2019, 02:26:43 AM
"We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there's a lack of confidence in this coin.”
that is a stupid decision, and it seems like Tim is either a big idiot who doesn't understand economy or he is trolling the whole country while trying to hype bitcoin up!
we all love bitcoin and we know of its potential but to declare it as a national currency today that price is still very volatile and there is manipulation in the market and also the whole thing is still small, is a terrible idea. and we know that this situation is not going to change for many years (probably another 5 to 10 years of same type of volatility). something like that can wreck the economy of the country more than its own currency even if their local currency is losing its value.
Just probably trolling the President, lol.
Yes, he is a bitcoin enthusiast and what better way to promote it but to talk to the President himself, make a safe win-win bet against him and then surprise surprise bitcoin has another state legalizing it.
But I don't think that the Argentinian President will bite though, he is surrounded with a lot of financial advisors and I'm sure that they know what Tim is trying to do here. But it's good to hear him trolling the whole country and hyping bitcoin.
March 27, 2019, 12:56:36 AM
"We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there's a lack of confidence in this coin.”
that is a stupid decision, and it seems like Tim is either a big idiot who doesn't understand economy or he is trolling the whole country while trying to hype bitcoin up!
we all love bitcoin and we know of its potential but to declare it as a national currency today that price is still very volatile and there is manipulation in the market and also the whole thing is still small, is a terrible idea. and we know that this situation is not going to change for many years (probably another 5 to 10 years of same type of volatility). something like that can wreck the economy of the country more than its own currency even if their local currency is losing its value.
March 27, 2019, 12:18:59 AM
I think the other country will thinking to legalize bitcoin too if they can see how easy for people to make the transaction and they don't have to meet any problem like in the traditional transaction.
There's a lot of alternatives for government for e-commerce or quick/fast payment, such as centralised digital payment. I don't think Bitcoin is the first option for this purpose, and certainly not their best choice because they can't fully regulate and manage the issuance/payment.
But if it ever happens, they'll need to solve several issues such as high volatility, 'slow' confirmation and so on.
March 27, 2019, 12:04:35 AM
I don't think Argentina will create their own crypto, but Argentina can legalize bitcoin because if they can legalize bitcoin, the revolutionary in the financial and economic will begin and people will choose bitcoin to make a transaction. But this will be good news for bitcoin because if that happens, then Argentina will be the next country that legalizes bitcoin and their people can use bitcoin with the other coins for making a transaction.
I think the other country will thinking to legalize bitcoin too if they can see how easy for people to make the transaction and they don't have to meet any problem like in the traditional transaction.
I think the other country will thinking to legalize bitcoin too if they can see how easy for people to make the transaction and they don't have to meet any problem like in the traditional transaction.
March 26, 2019, 10:38:30 PM
He added that if bitcoin gained a higher price than the national currency peso then bitcoin should be declared as a national currency.
Lol what? I'm fairly sure that's not as simple as it sounds. There's nothing in the interview that says this too, so could this be an error in translation or something?
Either way, I doubt any country would want Bitcoin to be their national currency as this would mean they wouldn't be able to control their economy. The end game as far as the global stage is concerned, IMO, is for Bitcoin to be recognized as a legitimate reserve currency.
March 26, 2019, 04:38:28 PM
So, if he's right again, BTC at half a million dollars? 
He's a permabull who predicted 35k last year. Permabull opinions are as valuable as permabear opinions. But I'm glad he's taking action and working towards a brighter future for btc. March 26, 2019, 03:07:53 PM
Good thing that Draper do able to have some meeting with the President and its indeed a change or opportunity to introduce bitcoin/crypto overall
since his bullish on it then telling all the positive things will happen but i dont think the decision will be highly affected because the jurisdiction
will always vary on how the government for Argentina foresees about such situation.
since his bullish on it then telling all the positive things will happen but i dont think the decision will be highly affected because the jurisdiction
will always vary on how the government for Argentina foresees about such situation.
He even shared his bullish attitude towards bitcoin and predicted within the next 3 to 4 year bitcoin will be worth $250,000
Im sick and tired with exaggerated presumptions or predictions about bitcoin hitting up with these ranges.Why not consider to point out lower goals?Well Draper did point out a lower goal of $10,000 per Bitcoin way back in September, 2014. Here's the quote:
Quote
Draper told CoinDesk:
“I guess the markets aren’t seeing what I am seeing. An entire economy is being rebuilt. I have a price target of $10,000 in three years. Even that may be pessimistic.”
https://www.coindesk.com/tim-draper-bitcoins-price-still-headed-10k“I guess the markets aren’t seeing what I am seeing. An entire economy is being rebuilt. I have a price target of $10,000 in three years. Even that may be pessimistic.”
So, if he's right again, BTC at half a million dollars?
March 26, 2019, 02:58:25 PM
Good thing that Draper do able to have some meeting with the President and its indeed a change or opportunity to introduce bitcoin/crypto overall
since his bullish on it then telling all the positive things will happen but i dont think the decision will be highly affected because the jurisdiction
will always vary on how the government for Argentina foresees about such situation.
since his bullish on it then telling all the positive things will happen but i dont think the decision will be highly affected because the jurisdiction
will always vary on how the government for Argentina foresees about such situation.
He even shared his bullish attitude towards bitcoin and predicted within the next 3 to 4 year bitcoin will be worth $250,000
Im sick and tired with exaggerated presumptions or predictions about bitcoin hitting up with these ranges.Why not consider to point out lower goals? 
March 26, 2019, 01:01:41 PM
Quote
He opinionated if Argentina legalize bitcoin and deploy blockchain it would provide a complete revolutionary transformation of Argentina’s economy. He explained that if people are able to use bitcoin with ease like fiat currency then they would probably choose bitcoin for all the transactions as it is“decentralized and open, frictionless and global.”
I don't think that the economy of Argentina is going through any significant trouble that would require remediation through the acceptance of cryptocurrency. Rather, the economy is going stronger year on year basis. Accepting bitcoin or other established cryptocurrencies within the economy of a country will definitely help bitcoin to grow, if not the economy of that country!
March 26, 2019, 11:05:07 AM
So that's how big Tim Draper, he can have a audience with a President of a country. LOL. But obviously, the guy is well known as venture capitalist so it's easy for him to talk to Mauricio Macri and discussed everything about Bitcoin and Blockchain Technology. Anyways, I agree that the bet is just one-sided and we all know that ARS can't and won't valued more than Bitcoin. But we love Tim for pushing crypto and blockchain though, at least the President may study what this technology can bring to his country in a positive way. And we don't know maybe in the next 2-3 years they're going to implement blockchain and slowly lay down a framework to make Bitcoin as legal currency.
March 26, 2019, 10:46:40 AM
Hello,
I think it is another very good news for Bitcoin and cryptocurrencies in general !
They could not save an economy alone, we need classic existing finance use and money. But it is a powerful alternative to them and could really help country and people to optimize investments and personal saves on other assets with less deflation.
More and more news at high level like this are helping crypto to be better known and more generally adopted. It will help to reinforce them and give trust.
I think it is another very good news for Bitcoin and cryptocurrencies in general !
They could not save an economy alone, we need classic existing finance use and money. But it is a powerful alternative to them and could really help country and people to optimize investments and personal saves on other assets with less deflation.
More and more news at high level like this are helping crypto to be better known and more generally adopted. It will help to reinforce them and give trust.
March 26, 2019, 09:34:38 AM
Quote
He opinionated if Argentina legalize bitcoin and deploy blockchain it would provide a complete revolutionary transformation of Argentina’s economy. He explained that if people are able to use bitcoin with ease like fiat currency then they would probably choose bitcoin for all the transactions as it is“decentralized and open, frictionless and global.”
I don't think that the economy of Argentina is going through any significant trouble that would require remediation through the acceptance of cryptocurrency. Rather, the economy is going stronger year on year basis. Accepting bitcoin or other established cryptocurrencies within the economy of a country will definitely help bitcoin to grow, if not the economy of that country!
March 26, 2019, 09:13:06 AM
It's cool the guy had a chance to meet the president, but his bet sounds unrealistic and I bet the president thought it was a joke. Not to mention that it might as well be that it's not up to president to choose the national currency. Moreover, even though I like the idea of bitcoin as money, it seems clear that bitcoin itself cannot be adopted that widely. How will people buy food in the supermarkets, waiting around an hour for network confirmations? Someone might of course take the responsibility for this part, but this will mean there's now an intermedairy that will probably charge additional fees. And bitcoin fees are okay when the network is not busy, but we've seen how high they can be. I think that bitcoin as we have it nowadays is not apt to the task. Lightning network might be a viable solution, though.
Jump to: