Bitcoin Forum

Remember that Mexican Border Wall Trump had promised? And remember that Mexico was supposed to pay for it otherwise remittance payments would be retained?

Will the Mexican peso currency is losing its value on the market.

Will the Mexican population rush to use bitcoin as there currency is failing, or will shaken investors move there recent sell off into a stronger decentralized currency?  ;D

I don't know the mexican level of awareness of bitcoin,but this is good news for the community and if there are a lot of services and products or they have an active community that deals with bitcoin it's going to be ok

I don't think Trump will build any wall like he have announced during election promotion as now as US president he have to remain more calm and have to build good international trust and relationship. He can't remain like what he used to be, the current market dump may only remain for few days  however not many have imagined Trump will win hillary but he won it so lots of big fluctuations may be seen in both forex and bitcoin trading charts.

Its something more about restricted regulamentation then really build a wall, makes no sense century XXI, this kind of idea, anyway i do hope to see what Trump does have to offer and change, besides those mexican issue.

The merchants are collecting USD as much as they can with the state of the Peso and I think that will be the ole standby,rather than bitcoin.
Just does not scream mass adoption when they are functioning well with the American dollar as back up.
I know these style threads are popular but they are basically ill informed speculation at best and doing nothing to spread bitcoin.
Would be better to teach the benefits of bitcoin to those that can gain access easily day to day,then looking at these Countries that have weaker economies for stimulation.

Honestly, if that's will get a real act from Trump or not, but I could for saying if Trump is also the immigrant from Mexican.

But if that got released by Trump with the real act, and the Mexican will pay entirely for that.
I think one of their legs will lame.
I don't think will rushing for use bitcoin but if that's will happen that's the best time for spread bitcoin in there.
 

the promise has not been realized yet and a promise in campaign could changing suddenly and it's up to donald trump by the way,but i'm sure many investors will try to prevent from having loss because of this issue so it's seems that they will moving their wealth to any form or way which can make their wealth save and stay on its value,i guess bitcoin is such a good option but it's uncertain

Might be a good move for them to get onto bitcoin whilst they still have a currency of value, to be fair who really knows what will happen with Trump, once he actually becomes the President we'll see his true colors, almost every President makes promises then as soon as they start not a lot of these promises are kept.

Eventhough there currency is on breakdown im pretty sure that they will do counter action for this one so their economic symbol would not go down, and not all mexican are using bitcoins so for that, and i think the one who got benifited for that downfall is the forex traders and not the bitcoin communities, surely the main reason for that downfall is surely the trumps presidency, wake up guys don't be so bitcoins fanatics there's other important matter rather than speculating to much on this one.

I don't think all this dumps on asian and mexican market will remain for longer time, price have been dumping hard for sure due to lots of fear due to all really insensitive pre election announcment but after getting in position of president of United states of America it will be really hard for him to do whatever he have promised to do.

It seems the currencies of countries all over the world are depreciating, don't know if this has anything to do with falling crude oil prices.

Whether people revert to bitcoins is another matter entirely.

A possible effect of Hilary not winning. It was gaining strength when things were looking good for her.

The wall already exists.

I believe he will try to build good relationships with another countries.

This instability on international currencies are normal at this moment. The Trump victory was a surprise for many who declared him "dead". Some movements and speculation... But I believe soon the mexican and another currencies will back to the normality. Surely would be nice to have more members coming to the forum and using BTCs, but I think that isn't a reason to make it happen.

In the case of Donald Trump I do not believe that we WANT him to fulfill the promises that he has made. I really just hope that even though his party has control on multiple fronts, that some sort of checks and balances will keep DT in check. Most of DT's rhetoric was off the walls, bigoted, and highly directed to specific groups that didn't care if he was lying, they were swayed by his High-School Bully Charisma while he tapped into the anger they were feeling. But to get back to OP, I think it's a possibility, maybe, but that possibility is pretty low.

Would be nice, but it's doubtful.   If the peso collapsed totally,  they would most likely start using US dollars...even more so than they already do.  But hey, the stock market is reacting nicely to trump's election.   I'm happy with that.  Mexico can take care of itself.

It's logical reaction that after Trump victory Mexican currency dropped. But I think it will rise again after some time if there won't be something what Trump promissed.
But bitcoin won't become important currency in Mexico soon. They will use US dollars, and they already doing it for long time.

I think Mexican will use the dollars as backup and not bitcoin, there maybe some people using bitcoin, but since there are so many dollars in the Mexican economy I think the easiest way to try to escape devaluation will be the US dollar.

I was aware if Trump makes totally all of the statement are just bait for raise more popularity in the community. 1 word and a thousand will looking at himself.
Like you said, the chance is pretty lower. but their got successful with this way and had more voting for trump.
But i 1 are got realization and the negative trend for Mexican will continuously.

There will be no walls and Mexicans will not pay anything. This was just the part of Trump election show.
Mexican people may start to use Bitcoin increasingly but that can affect and maybe help only to individuals who use it.
To help the entire country Mexico as a state should accept Bitcoin and put it into the formal flows and we all know this is not going to happen.

yeah I think it is possible but it may not happen overnight, and it may possibly take some time.


no!
just like many other countries with bad economy and falling currency values, this is no different either. people of these countries never rush to buy bitcoin as soon as their money went bad! if average Joes see their money value dropping they think about investing in popular things like Gold or even USD but rarely in bitcoin.

Mexico has got increased bitcoin users as well lot of stores accepting bitcoins. On account of this users might use bitcoin as their backing to some extent. Once again if the Trump government makes it liberal with the wall construction the devaluation might get stopped within a small percentage.

I think more and more people will start losing the general trust of paper currency in general and will want to flock to safer havens like gold and bitcoin so I would think it is fair to say that MEXICO is no exception here but it will probably start more with the rich folks who are more clued up on financial affairs in general and wider markets.

Yes they can park their money in bitcoin, in doing so they will propel the bitcoin rice. But how many of them  knows bitcoin? Will they trust bitcoin? Some of them maybe skeptical about bitcoin.

I don't think Donald Trump is going to build a real wall on the mexican border. What he really meant was that he is going to increase the border security. More officers on the border, less leaks from it. It would be nice that if he can place some mines too :) Whatever he ever does, it going to affect Mexican Peso badly, no doubt about that. Mexico is done.

Mexican people might use BTC but they won't use it as their main currency. Even if it ain't there main currency, It is good news to bitcoin community since it will give bitcoin exposure to those who still doesn't know it and it will also let bitcoin gain more investors that will buy bitcoin and will help in price pumps that everybody waits. It might also trigger a dump but its great all in all.

after Trump choosen he has got negative respond for some countries even the currency on my country and other countries on Asia slightly down but that won't makes people automatically switching to bitcoin but maybe if mexican peso failed people at there will switching to dollar not for bitcoin because dollar as the steady currency and most use in the world so very possible mexican people will use that

Mexico is not exactly known for their pursuit of technology and new things. they are not a developed country so i wouldn't count on them starting to buy bitcoin just because of their local currency is being devalued!

don't forget that this has already happened with so many different countries and they never started to buy bitcoin!

That's true. Most of the people everywhere in the world (not Mexico alone) are not that tech-savvy to go for Bitcoin all at once. But let's face it, bitcoin infrastructure has become significantly more beginner-friendly in the last couple of years.

I can imagine the people in Mexico want to invest in US dollars.
Sooner or later, if the mexican peso keeps on falling, the government there will make it hard for the people to exchange their currency against dollars.
Then they could use bitcoin as a way to convert pesos into dollars.

Hopefully Mexican government will do something about it.. they must make a treaty with the Americans and provide better solutions which is more beneficial for both countries. It's really hard for us people to see a falling country.

I agree that people won't automatically switch to bitcoin when their currency is down.  There are several reason and one of them is the doubt about bitcoin.  A person will never trust something that he is uncertain of when it comes to money.  Besides, not all people are tech savvy or have heard about bitcoins.  That is why they will stick to their currency whatever happen to it.  For them there is no alternative but to accept the fact that their currency is depreciating.

And trump will have them pay for the wall in bitcoin ;D

People will be hesitant when switching completely to bitcoin because it's value is so unstable.

that's why this is slightly impossible to switching from traditional currency to digital currency and most of Mexican people will be so confuse to use it besides the value isn't stable also i think most of people who live hinterland not understand what is blockchain technology and i would be very surprise if there is a country could switching from their currency to digital currency

Trump getting into power does cause a lot of stock markets and currency values to devalue by a bit, but recovery is evident. Trump has said that he would cancel NAFTA (ending free trade agreement especially with Mexico) and would impose a 35% tariff on US companies making goods in Mexico and the wall to prevent illegal immigrants in Mexico from getting into us (making Mexico pay for this as well). After all considering these uncertainties the Mexican currency devalued, but ofcourse we'll only have to wait and see if Trump would really do all of these within the upcoming years or if it was just a show for the election votes. Also I believe that a lot of Mexicans have invested in Bitcoins an it should surely benefit them.

seems all the challenges maxican economy facing can lead to new ways i am saying they will start using btc but as because i like their legendary histry maybe a miricle can happen

Some of those promises are impossible to do for example I see as more viable to build the famous wall than to end NAFTA since it will affect lots of American businesses, I think we will see a renegotiation of NAFTA and not a cancellation.

Yes thats true that the promise has not been declared to be true.
But many citizens has been against donal trump since he won the
presidency. I think the Mexican people are not that techy so also
all people will rethink first before investing their money in dollars
and bitcoin is a wise think option to invest with.

honestly if i were those mexican citizen i would move out the whole of my wealth into form of gold because it's quite stable and not going to risk into an unstable currency.but if the case is if the local currency dropping fastly and make i don't have a time to buy bunch of gold then would prefer the most simple way,it's bitcoin.

No, I dont think so even if their currency will fall I believe they wont turn into bitcoin. They wont rush to invest their money into a thing that they are not so popular with and btc is still not being used by everyone yet.

I do believe the walls that Trump wanna for Mexico citizens, its just more restricted rules, meaning if its easy now to enter USA, this will change, it will get harder, i dont believe bolivar will fail more besides the last value, as they werent expect the market reaction soo fast about the comentary. Bitcoin wont be a store of value for mexican, its more easy to believe and say they will strore their finances into dollar.

I think that some users will see that buying bitcoin could protect them from loosing value. Chinese are buying bitcoin because yuan rate is decreasing against dollar, and i think that some Mexicans will do the same. But i don't expect that all the Mexicans change its currency for bitcoins.

Anyone who invested Mexican Peso into Bitcoin just before the election is no doubt happy.
I'm not sure if the Peso will continue to drop, but investing in BTC would definitely be a way to safeguard against that.

Personally I don't think Trump can do half the things he promised.
Mexico is one of the United States top trading partners. Too many big US businesses like auto makers depend on Mexico for parts manufacturing etc.
We will have to wait and see what type of actions he proposes.

If they have any sense they will get their savings into bitcoin asap, india might be going that way soon also....... just shows you how worthless fiat is, as soon as the government says the paper is worthless it is.....

The Mexican economy does not look that good the external debt has increased during the last 4 years and their currency lost a lot of value even before Trump election, so if I was them I will not hold any asset backed by the Mexican government, including currency.

People need to stop worrying about what happens to a currency. You should focus on Profiting from it. If it's dropping or rising trade it.

https://bitcointalk.org/index.php?topic=1664883.0

We cannot expect a whole country to change its currency like it is a car to change or upgrade because a currency it another level.

I consider that changing a country currency is much more complicated and I don't think that they will move and use bitcoin.

The wall was promised but it doesn't mean that it will be a lost for Mexico, recently the dollar stocks are dropped too so they won't move to bitcoin.

Markets always crash after a Presidential election. They're going to rebound as they always do. S&P 500 up a significant amount, numerous tech companies fell and are all back up more than they were pre-Election. Currency will come back too.

people in all countries around the world will soon realize that bitcoin has a lot of potential and benefits for them and they will start to use bitcoin slowly but surely.

but it is never going to happen over night and just because there was a currecy drop!

Mexicans will likely not be switching to Bitcoin. Based on what I know, Mexico is very stingy when it comes to where Bitcoin is accepted and used, and I find it super unlikely that they will start using it soon. Just because the peso is dropping it is relatively unlikely it will affect the average Mexican very much.

The wall will probably have more of a direct impact on the average Mexican than the peso dropping.

currency drop especially if it was fast and immediately will force people to go seeking another currency as an alternative for them to keep sure their wealth to stay on its value. some good option might be bitcoin might be another currencies or even gold,and this one does affect a lot

You know that bitcoin is a digital currency it will take time before it can be accepted and there must be proper advertisements  on how to use the currency

Mexican Peso is bound lose value over USD anyways. Mexico is a country where everybody wants to leave it and start a new live in the US. It is a country which is famous for its Taco, tequila and druglors. I am very grateful for the first two, but the third one screws everything up. You gotta produce technology people, selling drugs ain't a way to get rich. It will only eat away your soul. And when all of your soul is gone, it will make you a shitty country where everybody wants to gtfo.

I am also sure that the government does not allow the use of digital cryptocurrency instead of national. This is a serious decision, and no one will take a matter of urgency

No. No government will allow Bitcoin to be used as the default currency because of its anonymity. Just like it happened with India it will probably happen everywhere: measures will be taken against the black money. Except that, even I wouldn't prefer Bitcoin as the default currency. Except the fact that I'd be anonymous, it'd be hard for many of us especially because of confirmation time.

Yeah you got that right. Of course governments would want to have control of their own currencies and with how bitcoin works, it will be hard for any government to manipulate and regulate it due to its anonymity

That is correct assumptions and sooner or later many people will join the bitcoin. Though adoptation is quite slow, but it is increasing in numbers always.Time will come that bitcoin will become mainstream.

If situation will be extreme I would rather expect Mexico to adopt USD as their primary currency just like some other south american countries already did - Ecuador and El Salvador.
At this point it is unwise to think that any serious sovereign country will switch their attention towards Bitcoin, we are not there yet.

I find that to be doubtful at best since that will require extreme fiscal discipline which is something the Mexicans government is not known for, if they switched to dollars and a new crisis emerged they will be unable to control the amount of currency to print and their debt will be denominated in dollars instead of Mexican pesos which right now they can print at will.