Bitcoin Forum

massively invest in bitcoin to avoid pesos crisis?

I don't think they will invest in btc "massively" mainly because most people still don't know anything about bitcoins.

I don't think  they will invest massively as you put it because as pointed out above it's not as well known as of yet and not many people know about it. There may be cases that if people find out about it they may invest if they can.

You can't avoid a currency (pessos) crisis by investing in another currency

i go with that.

No, but I'm sure it will spur people to look for alternative ways of storing their wealth and bitcoin could pique the interest of some Argentinians. I hope they get wind of it somehow. Maybe it's out job to promote it to them somehow.

This can be dome just by the government, not ordinary people.
It's really question if they will consider Bitcoin as real solution for their problems.
But, if they do, it will really help not just them but also us, in the term of popularity, global acceptance etc...

If they could do so - with gold, silver, dollars or bitcoin - they would do so.  The problem is multi-fold:  import/export controls, capital controls, and finding people who want pesos.  

I feel for the people of Argentina who are being used and abused by power-hungry authoritarian statists who care only for themselves and their money and power instead of the people.

it can spread virally though. all it takes is a few people doing it, who know what the benefits are, and then they talk to family/friends to influence them as well.

No I think this is way different than the Cyprus thing.  In Cyprus it was the government taking away people's fiat expressly.  In Argentina people won't feel like they're directly losing their fiat so it shouldn't cause the people to panic as much.  I could be wrong though, but the price of BTC has not shot up yet like it did when Cyprus was happening.

No, Argentinians know better than to buy into the Bitcoin con, so they will keep licking the boots of their monetary masters.

A people cannot, but a person damn sure can.

didnt we bounce when there was the cyprus crisis?why wouldnt be the same today?

We bounced thus far from $555 low Wed evening (U.S. time) to $607 this morning.

That's only 9% though.

Bitcoin is a lifeboat.

The smartest and most tech savvy among them will. The rest are sadly fucked. Same as in any nation, none will be spared in the coming reality check.

The hard truth is that not everyone has the presence of mind to jump off the Titanic before it has begun to sink. Most of the brainwashed masses will start swimming for their lives only once the water (hyper/inflation) reaches their necks. Some will simply drown clinging to their worthless fiat.

Go watch a herd of bison flee from some attacking predator. You will notice there are those in the front, and those in the back. The laggards get eaten. Similar deal here, (un)natural selection. It ain't pretty, but neither life nor capitalism ever were.

People worry about security and food when there is a crisis.

Doubt they care much about bitcoin.

What? Why not?

That seems like it would be the perfect thing to do? Why would you hold a hyperinflating currency?

They would care if they could buy 10 times as much food with Bitcoin over the next month when compared with holding Pesos.

A percentage of people at the top with the means to acquire Bitcoin certainly will.

You can exchange 10,000 pesos for BTC. Or 100 pesos. Or 10 pesos. Or 1 peso.

Anyone can do it, you don't have to be rich. Yet another anti-Bitcoin myth / FUD.

I'll be in Argentina on business. And I'm a seller of Bitcoin.

So let's say I sell 15 - 20 Bitcoins to the locals.  What the hell do I do with a pocket full of pesos (the hotel has specified settlement in USD)?

since their fiat is less valuable, i'd assume they'd have to pay you more in peso for a bitcons.

you can flash your bling and get argentine chicks, i guess?

Spend Bitcoin wherever you can while you're there, even the smaller cities seem to have a Bitcoin presence if you check coinmap.org. Buy any USD you need with BTC once you're in Argentina.

Nothing....  :(
Try to pay for goods and services using BTC while you are there.
You will be treated as a king, probably get some good deals, and the Argentinians will get some REAL value for their work/goods.
Even if they do not know what BTC is all about, they'll probably prefer anything to their devalued worthless pesos.
Good Luck!

I wish they would. It would at least get a lot of those stupid valueless pesos out of circulation.

nah, lots of people have heard about btc but don't have access/don't know how to buy it. And there are not many places that accept btc as payment yet...
they'll keep buying usd

That's true. Anyone can take a hundred bucks and go buy bitcoin. It's not exclusive to people buying multiple BTC.

Money can't get in and out easily. So even bitcoin is hopeless in this case.

Argentina women have clearly questionable moral standards.  :D

http://www.bigtravelweb.com/images/football-argentina-l.jpg