Why Latin American economies are turning to bitcoin - page 3.

alyssa85

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Quote from: NUFCrichard on March 17, 2016, 03:56:34 PM

That sounds good, but are they? I think if any significant part of a country, or even the rich in a country, decided to 'turn to Bitcoin' the price would be much higher than it is now.

The price went from about $200 at the end of last year to about $400 now - and that coincides with the oil price crash sending Venezuela into a tailspin.

xuan87

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maybe the Latin america can increase their life quality using bitcoin because as we know there a lot of unemployed people in latin, so the only answer for them is earning from bitcoin, this is what i thought

Amph

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aren't latin america more porer, maybe it's because of this that they are interested in bitcoin, bitcoin can grow well with corrupted government and bad econmic conditions

LiteCoinGuy

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Venezuelan government lambasts Bitcoin as currency of criminals

As digital currency gains popularity in Latin America, Venezuela is one of the latest countries where ordinary consumers and businesses are turning to Bitcoin in the face of political instability and economic collapse.

https://thestack.com/world/2016/03/17/venezuelan-government-lambasts-bitcoin-as-currency-of-criminals/

Wonder why? Look:

https://forum.bitcoin.com/post19052.html#p19052

SFR10

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That was one lengthy article. It has good points throughout as well. One of the main factors for them turning to BTCitcoin is, it's their only getaway since all other options seem to failed to live up with what it supposed to in the first place. The adoption will be the major challenge here since now everyone has internet and not all the merchants know BTCitcoin (until now). In regards to the huge inflation, I though my country of residence had the biggest inflation rate but it seems I was wrong. We've been on the inflation for so long (not anymore since recently were on deflation) that I could understand the damages done or will be done and if ever BTCitcoin reaches it's peak with stable value, then nothing would beat it and surely will be the best option for countries of such.

qiwoman2

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Quote from: trenchflaint on March 18, 2016, 02:44:17 AM

Quote from: qiwoman2 on March 18, 2016, 02:37:51 AM

Also because of the poverty issues as well, it is much easier for even the poorer residents to by up small amounts of bitcoin slowly slowly than to buy gold. It is also far more easier to liquidate or use as well. I guess also clicking faucets and doing other tasks for bitcoin in a country where the wages are much lower could also boost small households who may have access to internet.

This is right, the lack of decent work and stable job are the reason why they are turning to bitcoin, being in bitcoin can get you somewhere else.
The extra income that bitcoin gives make most people turn to it.

Also for many who can't afford a computer but can use a mobile device or phone can have easier access to bitcoin and still get to earn as many sites now are becoming cellphone/mobile friendly as well. I think that may also help those in remoter regions as well.

trenchflaint

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Quote from: qiwoman2 on March 18, 2016, 02:37:51 AM

Also because of the poverty issues as well, it is much easier for even the poorer residents to by up small amounts of bitcoin slowly slowly than to buy gold. It is also far more easier to liquidate or use as well. I guess also clicking faucets and doing other tasks for bitcoin in a country where the wages are much lower could also boost small households who may have access to internet.

This is right, the lack of decent work and stable job are the reason why they are turning to bitcoin, being in bitcoin can get you somewhere else.
The extra income that bitcoin gives make most people turn to it.

qiwoman2

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Also because of the poverty issues as well, it is much easier for even the poorer residents to by up small amounts of bitcoin slowly slowly than to buy gold. It is also far more easier to liquidate or use as well. I guess also clicking faucets and doing other tasks for bitcoin in a country where the wages are much lower could also boost small households who may have access to internet.

target

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Quote from: DeathAngel on March 17, 2016, 06:38:57 PM

I read stuff like this all the time. I used to get excited by it, expecting some kind of a surge in mainstream adoption bit as usual it leads to nothing.

Yes. thats the problem with press releases you can keep reading them but its mostly not true. No silly country/government would prefer to use bitcoin. fiat is easier to use of course and can't be tracked.

Kakmakr

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Latin America needs Bitcoin, but they are not ready for it yet. The government is very aggressive towards any form of capital flight and will do anything to protect their local currencies. The education levels are poor and the country is struggling economically. Bitcoin will be the ideal solution to solve many of their problems, but the government will not allow it. You will have to do backroom deals, not to get caught buying and selling Bitcoins, but for now this is a good way to protect the value of your money. Someone needs to go there and open the doors for Bitcoin.

n0ne

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Quote from: bebeko on March 18, 2016, 01:39:21 AM

They understand that bitcoin now is on a trend and has really the potential to be a true money, since it is an online currency we can use it as money in the real world.

The trend might got more acceptance over the Latin american region. This will be an initiation of trend setting for the neighbouring countries. The users of bitcoin has increased in this region.

bebeko

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They understand that bitcoin now is on a trend and has really the potential to be a true money, since it is an online currency we can use it as money in the real world.

nanonymousx

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Quote from: sdp on March 17, 2016, 07:08:43 PM

I live in Argentina and I find it very difficult to find brickand motor locations that accept bitcoins. There is ONE web site and there is rampant confiscation of things by customs. So bitcoins are a long term investment here ONLY. Whenever I ask whether a shop accepts bitcoin they either say noor they still don't know what it is.

sdp

No worries, I am sure Argentina wi pick things up soon. It is no doubt that bitcoin is most economy way to move coins across border. Also, from wiki:

It was around 4 pesos per US dollar from 2009 to 2011, surpassed 6 pesos in November 2013, sat at 6.5 pesos per dollar during December 2013. As of October 2014, the exchange rate was about 8 pesos per dollar, by February 2015, it was 9 per USD, and by December of 2015, 13 pesos per USD, after a record of 14.

Do you think keep Peso is inferior to bitcoin?

West man

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But what about the richer Latin countries they won't give up their valued currency for a new economic crypto they know nothing about. Latinos are hard pressed to try new things if they know that something works already. Why change it they say.

RealPhotoshoper

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Quote from: the_poet on March 17, 2016, 02:51:28 PM

Have a nice read Wink

http://techcrunch.com/2016/03/16/why-latin-american-economies-are-turning-to-bitcoin/

america latins countries like Brazil as we know have so good bitcoin developing,they have so many store accept bitcoins,and something blow my mind "Last year, adoption of the digital currency broke records in Latin America. Payment processor BitPay reported a 510 percent gain in merchant transactions in mid-2015" and i'm sure this year will more and more,i wish Asian and europe will follow this movement soon.

knowhow

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Well this wont happen as the most people of that countries are poor,some hasnt internet or a phone,soo why would this really happen?The inflation at the most of the countries are unreal soo some of those people may invest at bitcoin to protect their capital but well,its already know that bitcoin community is becoming bigger every week.

Junko

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Well, in order for Latin American countries to turn to bitcoin, people have to buy or obtain bitcoin. Many, if not most people in Latin America don't have the money to buy bitcoin in the first place. Sure, there are many rich and middle and lower middle income folks in Latin America that have the means to buy/obtain bitcoin, but I imagine the great majority of people there don't.

sdp

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I live in Argentina and I find it very difficult to find brickand motor locations that accept bitcoins. There is ONE web site and there is rampant confiscation of things by customs. So bitcoins are a long term investment here ONLY. Whenever I ask whether a shop accepts bitcoin they either say noor they still don't know what it is.

sdp

mkc

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I understand many folks , including myself, hoping Bitcoin will fly to the moon soon. However, if these two things are tied together,

1 severe toilment of your local government and local currency.
2 huge appriciation of Bitcoin.

Do you still want this? I would rather Bitcoin price stay put. I do believe in Bitcoin, I hope because of limited supply, the price will slowly and steadily going up.

kanazawa

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Lotta people in this forum are right. There are so many wrong things in the LATAM scenario that Bitcoin fits like a glove. There are just few points to consider... The adoption is very low and the knowledge is almost non-existent. The latin currencies are a joke. The government dominates everything. I wish better things but it is so distance that I can imagine. There are few exception, but they are veryyyyyyyy small. Won't get too long here. It will be a book. There's a ton of problems to discuss.

Topic: Why Latin American economies are turning to bitcoin - page 3. (Read 3080 times)