Bitcoin Forum

There seems to be a growing interest in bitcoin and cryptocurrencies in South and Central America, with Argentina also pointing to the acceptance of bitcoin.
Speaking to local media, Caja Negra, President Alberto Fernandez addressed issues related to the government's view of digitalization. Asked about Argentina's plan to offer its central bank (CBDC) digital currency, Fernandez said:
"I don’t want to go too far out on a limb but there is no reason to say ‘no’. Perhaps that is a good path to take […] Everything is possible. They say the advantage is the inflationary effect is largely canceled out."
Argentina has been grappling with inflation for years. The head of state believes that the use of bitcoin can neutralize the effects of inflation. On the other hand, he also expressed his concerns about this issue.
"It’s a global debate, and I must confess that it’s a topic [that should be approached with] caution. In my case, there is caution because of how unfamiliar it is and because it’s hard to understand how this fortune materializes."
Last month, El Salvador became the first country to accept bitcoin as a legal entity. Since then, several other countries have shown interest in dealing with bitcoin.


Source: https://btcpeers.com/argentine-president-sees-no-reason-to-oppose-bitcoin-adoption/

Cause there's no reason to oppose it, President Fernandez sees what other countries don't see which is the worth of bitcoin in terms of economic and social contribution. I do hope that these vision of him don't stray far away when he steps down someday and his predecessor should be able to continue or improve it. I think Argentina is going to be the second country that will officially adopt bitcoin and hopefully more countries including their neighbors in the Latin America would go on and follow their footsteps.

With the global new crown epidemic in the past two years, everyone knows that the economies of all countries are not good.

Inflation has led to a sharp rise in gold this year, or a positive increase in bitcoin consumer prices will also erode the value of bonds, and their return rates are already low. Therefore, these countries need to look for investments with better returns.

Inflation is an invisible tax, a tax levied on everyone who holds cash, and it is always inevitable. It is the real "thief" of wealth. Choosing the right investment is the best way to fight inflation. Bitcoin is the best choice.

Because there isn't any.

As long as the gov gets his share (taxes), it should be fine. Maybe they figured out that bitcoin is unusable as a currency and pose no threat to their local currency so they don't care about it.

There's no real reason to oppose bitcoin adoption honestly, and the government together with the citizens will benefit a lot from it. Good to see that the president considers all angles first before making a decision to oppose it. Most governments would surely just drop the idea down the drain without even considering the positive effects of bitcoin into their economy and society.

The country is a prime example of a nation stricken by fiat devaluation which can benefit from unconventional techniques like adopting cryptocurrencies.

Despite Argentina's strict currency controls, the current president has a broader, modern, digital vision. In fact, he noted the growing perception of Bitcoin as a hedge against inflation in the global economy.
However, highlighting concerns about Bitcoin's price volatility, he stated that cryptocurrencies are a social-economic topics that should be approached with a good deal of caution.
Whenever you want, President, we are ready.
To be noted that Argentina has one of the most exciting bitcoin communities in the world, lots of great bitcoiners from there.

I kinda interpret it as a wait and see attitude, he is not sure about it because of so many issues, like volatility and it's supposedly (psuedo) anonymity. But if the neighbouring countries go full bitcoin mode, then there's no doubt that with any sitting President, it doesn't make sense to oppose bitcoin because they might be left out.

Although the most developed country doesn't allow Bitcoin officially but very rarely do they oppose it. Because Bitcoin keeps role on a national economy & would help the growth of the economy as well. I believe day by day a major part of developed countries would start accepting Bitcoin. The problem only developing & poor countries. Because even they can't analyze Bitcoin technology properly. I am saying it because my government even not encourage me to analyze Bitcoin technology where developed countries have been accepting Bitcoin.

I saw the news and it caught my attention as well. A country that has hyperinflation for a long time because of how accustomed its rulers are to spend, and in one or continuous flight forward, does not see problems with Bitcoin? WTF? Surely because they see a business opportunity in being among the first to adapt, like El Salvador, because otherwise I do not understand.

The new thing in this news is the beginning of understanding and accepting Bitcoin instead of saying that it is a currency that is used to promote drugs or terrorism and is not a model for quick and easy profit.

I am not interested in accepting Bitcoin in Argentina because it requires people to use and understand Bitcoin which will take a little time.

Just a populist statement really, I would feel. Argentinians haven't been on the crumbling fiat yoke as bad as the Zimbabweans or Venezuelans but they've been feeling the pinch all right and the US dollar's the preferred coin there, even if begrudgingly. They want a change, they want something a bit (a lot) better than what they've got. I can't say if Bitcoin's the answer for them but the president knows he has nothing to lose to seemingly support it.

The regions you mention have been in a trend for years to accept what bitcoin means as a means of investment and currency. Only, as always happens, politicians are attracted to bitcoin, because it is news and they know that there are votes there, why they had not spoken before, at least any other politician who shows that he had bitcoin in his thoughts as an economic tool, deserves more credibility when mentioning the subject.

Now, that does not remove good intentions and Argentina has something of that mix of situations that must occur, at least the ventures, exchange, and that effervescent spirit for bitcoin exists in "part" of the population.

I think that initially for an adoption as a local currency it is not so much about what the politicians think or as they exercising their power of speech around bitcoin, it is about people in how they develop individually and collectively in relation to the Bitcoin environment .

What the president said is true though, there's no reason for them to oppose bitcoin adoption, since bitcoin surely has many advantages that can help the country. Even if there will surely be some minor problems, but if the country is ready and want to adopt it, they will make sure to prevent any trouble heading and prepare the best for it right? It's good enough if the country shows an interest in bitcoin adoption, if then the plan is carried out, then it will be a great step for bitcoin acceptance in the world.

Unfortunately, that's just another article with a misleading headline... The part where he said "there's no reason to say no" was meant for their own CBDC, not BTCitcoin!

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I didn't like the fact that he pointed to both BTCitcoin and their own CBDC ^{[if there'll be any]}, as a way to indirectly tackle issues surrounding inflation.
^{- Clearly, he doesn't want to go with a route [direct approach] that happens to be a lot easier [SMH].}

The president also responded to questions about the country's possible CBDC plan, thus that makes this news somewhat interesting, it'll be great to finally get to see a country that understands that Bitcoin is decentralized, while CBDC are centralized, meaning that they are in no sort of competition whatsoever, and there is no need to start issuing sanctions or bans to stop the growth of Bitcoin. The thing is, I think the Argentine government are somewhat aware that Bitcoin isn't opposing their fiat currency, thus there is no reason to oppose it or try to prevent it's citizens from using it, but we would have to keep our fingers crossed on what actually the governments plans are.

Most third world countries fight high inflation and a devaluation of their reserve currencies. High taxes and VAT are also making foreign investment difficult, because these companies can just chose to shift businesses to countries with lower taxes. If a currency like Bitcoin can be used, it will cancel most of these problems.

With a Gross Domestic Product of about $400 billion, Argentina is one of the strongest economies in Latin America, so it will be great if they could accept Bitcoin as a currency.  ;)

That's because we are biased towards bitcoin remember that the economy and bitcoin isn't linear that if we were to add two and two together, we will experience prosperity. No, that's not how that works, there might be some aspects in the economy that might be destroyed when bitcoin gets adopted, so not all countries share the same sentiment as the Argentine president.

Yea from the statement they want a change and a bit more control over their "currency"
in a time when inflation is rising. Using the U.S Dollar doesnt give them any control when
the U.S devalues it.


We have to admire hi for even considering it though, its a bold move and an unpopular move
in the eyes of many other governments.

There is also the consideration of how to make Bitcoin work when coupled to a countries financial
policy or visa-versa, fitting a countries economy around Bitcoin!

I guess when you compare smaller countries' "hyperinflation," Bitcoin volatility looks practically stable!

It seems the smaller countries will become rich off of Bitcoin while the first and second world countries are going to become poor. Wealth will become concentrated in these smaller companies that realize the economic benefit from mining and development and leave places like the US, Europe, China and India, unless people convince their political representatives that they should have the freedom to access cryptocurrencies.

The problem is, the more powerful countries are controlled by the elites and banks, who don't want to lose their control. These smaller countries have less stable central governments, but that also means their central governments have less power over them financially. There is no tech oligarchy lording over them and spying on their every transaction. In a weird way, they have more economic freedom.

I don't see why would anyone would see Bitcoin as a threat anyway. If Bitcoin was meant to destroy local currencies then it should already have been able to back in 2010s. People would still be able to transact BTC without taxes through p2p though. The only way that I think that they can get some tax out of every BTC transaction especially in merchants is by using custodial wallets.

I agree any country that wants to try to adopt Bitcoin is a good move, but that goes back to how the amendments of countries consider Bitcoin to be a value which and withstand any kind of inflation. So far Argentina has had another opportunity to improve its fiat, because what if it is still in a hurry to make decisions and because it sees El Salvador and the countries that have adopted Bitcoin as payment. Argentina must involve all the interests of the government and a well-thought-out plan to implement a detailed payment system. They need to hold a special meeting with the bank in their country and take the right steps to make a decision.

Argentina seems to be inspired by the State of El Salvador which first accepted bitcoin. Argentine president Alberto Fernandes said he agrees with the idea that crypto will play a bigger role in the Argentine economy. The high interest in crypto certainly should be with great caution.

Argentina is still thinking and conducting ongoing research whether it is true that it will accept bitcoin or not, because it seems that bitcoin acceptance in Argentina is still a prolonged discussion and will not be realized in the near future. But the president of argentina has an open attitude on bitcoin which certainly does not rule out the possibility that there will be an opportunity for bitcoin to be accepted.

South America catches Bitcoin fire and it's spreading like wildfires, but let's wait for official confirmation when Argentina adopts Bitcoin.
It is good that President Alberto is positive towards Bitcoin, but I think there are a lot of forces inside Argentina that will be against Bitcoin, because they are sponsored by central banksters.

Negative forces would always be there and it isnt something new because we know that we cant really please everyone. Any news of adoption is always been a good thing and hopefully that this would open the eyes

of other countries about accepting or adopting bitcoin rather than on banning or prohibiting it.For sure there are still lots of countries which are still on neutral side where they do still tend to observe on what would

gonna happen or whats the other countries taking about it and might able to act out if they would really be seeing some good things that will give out on adopting it.

The final decision still relies with the last say of the President. The good thing about this is the leader of Argentina is very positive that bitcoin can make a great difference in their country. And yes it is. The price inflation will now be gone once bitcoin will be adopted legally as a currency in their country.

I think El Salvador has made a great impact to other neighboring countries or even to those who are far from it. Honestly, i also don't see valid reasons why such countries don't want to accept bitcoin knowing it can be beneficial in regaining the strength of their economy after what pandemic has did.

This an interesting news and all thanks to El Salvador (which open the eyes of the federal government that Bitcoin is not a threat)and the IMF Boss which advised the government to create their own CBDC because crypto is the future of currency and payment.
If countries like Argentine that had hyper-inflation use Bitcoin and their upcoming CBDC as legal tender it will boost their economy.

At least they are not closing their doors to blockchain technology. They know, at some point they need to face this development in currency. But up until now, many governments are still lip-sealed when it comes to cryptocurrency. It is nice that the Argentine President is open to new developments when it comes to digital currency. It may take time before we see their massive adoption to crypto, but that's a good signal that may open for their merchants to look at crypto in serious manner.

This statement strengthens again the mass adoption of Bitcoin that is probably done by many more countries in the world.
Although he said so. he is also aware that this topic is a global issue and should be talked about and thought about very carefully.
If he can see the positive impacts of Bitcoin than the negative side, it seems that the country may be sooner adopting Bitcoin and crypto globally. But, let's see what's next because it is still a personal statement.

I am happy to hear the news from President Alberto Fernández of Argentina to explore the possibilities to adopt bitcoin in the nation.
Because while the government learns how bitcoin can help fight inflation in the country.
There are already Argentines trading bitcoin and cryptocurrencies on Binance and other exchange platforms.
This phenomenon is occurring in all corners of the world is the people who take the first step in search of solutions that governments still do not dare.

Below is a link from Binance.
How to buy Bitcoins in Argentina? Guide to make money with Bitcoin | Binance P2P
2020-11-1
https://www.binance.com/es/blog/421499824684901176/-Cómo-comprar-Bitcoins-en-Argentina-Guía-para-ganar-dinero-con-Bitcoin-%7C-Binance-P2P (https://www.binance.com/es/blog/421499824684901176/-Cómo-comprar-Bitcoins-en-Argentina-Guía-para-ganar-dinero-con-Bitcoin-%7C-Binance-P2P)

Guys, SFR10 is completely right on this one. The article's very short, but the phrase was clearly related to overall digitalization and to issuing Argentina's own centralized digital currency. Then again, Nasdaq (https://www.nasdaq.com/articles/president-of-argentina-open-to-adopting-bitcoin-as-legal-tender-2021-08-13) reports it differently, saying that in the interview, the President said these words when referring to adoption of Bitcoin as a legal tender... If Argentina's suffering hard from inflation, these words might actually mean something because the government might be desperate at this point. However, out of context, the phrase itself doesn't signify any support of Bitcoin either, as it might be considered as the last resort, and what the President might have meant was that if the Parliament votes for such a law, he wouldn't veto it or something.

With the economic drought that the majority of countries are experiencing, I think it's safe to assume that most of these countries are likely to put Bitcoin as an option in the midst of this economic drought and not oppose to it, though after reading a few replies in this thread, the topic and the article is heavily misleading, but I do get the OP's point, but the whole topic is misinforming.

I like how President Alberto Fernandez is cautious  about making decisions over bitcoin just yet which should be the decision everyone should be making and not acting on emotions or closing this opportunity for others because you don't understand cryptocurrencies.
Let technocrats advise then decisions be made but for now great job Mr President .

And that's what we waiting for and once this happens it's bitcoin to 1 million dollars.

Another good news for Bitcoin again and I still believe that more are yet to come. Many countries are seeing this, seeing the way friendly countries are adopting the use and transactions of Bitcoin as a payment system for buying and selling of goods and services. Countries like China, North Korea, UK and many more who had being against the existence of Bitcoin are seeing this and I believe that they are still going to change their mind and perspectives they have against Bitcoin and it's interface.

There is nothing surprising about this news at all. Argentina is suffering from a financial crisis from sometime now and accepting BTC and other popular cryptocurrencies could help their economy in the short-term and long-term.

Financially unstable countries accepting cryptocurrencies  has become a trend in recent times since they stand to gain more in my opinion.

And now more people realize that those bad publicities are not true, they are nowhere and investing with enjoyable outcomes.

It just needs time and proper understanding. If Argentine President has that kind of mindset allowing Bitcoin and adopt it within their system, it can surely help them and those people who know Bitcoin and crypto around their country.

Another good thing that will happen to this industry.

Good take, he prolly sees the adoption that has happened to El Salvador. He's right that there's no debate for them to say no against it because they're going to benefit from adopting it. What if there are handful bitcoin rich in their country and those folks encashed them, then the taxes and money will flow into their economy which is beneficial to them. This is what the other countries don't understand and only sees bad through bitcoin adoption.

As part of the crypto community this kind of news excites me to see what will going to happen or what will be the positive feedback about it. I mean the investors and traders of cryptocurrency still could see the good in investing in crypto even if the worlds leaders or the leaders in any nation didn't recognize the potential of this platform and as what happened the platform continuously doing great even if there are countries who banned the platform.

LOL.. I could understand the positive stance taken by El Salvador, since the president is fond of new technology and he is somewhat a political outsider. But the case with Argentina is different. Unlike the case with El Salvador, they have a national currency (Argentine Peso) which is very susceptible to inflation. So at this point, tolerating Bitcoin carries a certain amount of risk for them. I was expecting Ecuador to follow El Salvador's example (since they don't have a national currency). But a few weeks back, the parliament there passed an anti-Bitcoin legislation.

the president of argentina sees no reason to oppose the adoption of bitcoin,?? The steps taken by the Argentinian government are indeed on track, because the emergence of bitcoin never poses a threat to anyone including the government, because the emergence of bitcoin is purely because it wants to provide new challenges for us, to be able to compete fairly to increase our income. .

it's even long overdue because long before El Salvador there are already users of Bitcoin in that area just like Venezuela. i'm sure his approval doesn't mean that he knows nothing about Bitcoin. this is a president of a country, he can easily find someone who can tell him exactly what Bitcoin is and the underlying tech on it. if El Salvador had risen to stand up against economic sanctions, they should too by using Bitcoin.

Why would third level country where all major problems like poor education system, corruption,crimes and most importantly high rate of inflation are present would worsen their economy with putting a ban on bitcoin that could benefit their economy as whole which they miserably had failed to do so? The CDBC will help them out of such conditions? The answer is simple no and that is why they don't seems to have any reason for such things and want to adopt them.Alberto is open to adoption but his government and central banks are not seems to agree with him and he alone can't take any decision so this news might not come true soon.

amazing, nothing is impossible in crypto world. 1 million dollars, 2 million dollars and so on can happen at any time. Bitcoin has a strong community and supports future technologies that will make a lot of changes in human transactions. Currently developed countries are starting to look at Bitcoin, other countries are also monitoring Bitcoin's performance. Future technology that must continue to be developed. Bitcoin is a very valuable digital asset.

First of all, I think there is a bit of a confusion in this post. I believe the quotes you have here were copied direct from the news you saw this, and in the quotes we can clearly see that they are talking about CBDC and not bitcoin, you’re the one that keeps mentioning bitcoin. So, I guess he was talking about CBDC? Anyways, it’s not bad if they are also referring to cryptocurrency as a whole.

But, know that CBDC is totally different from the normal cryptocurrencies that we know, such as bitcoin. That a country has CBDC doesn’t mean that they are going to allow cryptocurrencies. They can still have their own CBDC and also ban cryptocurrencies such as bitcoin, just like what China has done. Although I don’t think that stops people from using bitcoin. The power of bitcoin is in decentralization.

As long as the people and safe and their welfare is not at stake and they seems to be far away from scam schemes and they wanted to use Bitcoin and other cryptocurrency to be part of their daily life situation, then there is really nothing wrong with the adoption. As long as there is no threat being seen that will affect the people, then it is good to go but still it is the responsibility of the individual to take hold of how he will handle things on his own and make use of the freedom that is being given by the state compared to others that have been restricted by their government due to certain reasons.