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Author Topic: [2019-11-05] Bitcoin Price Hits $11.6K on Argentinian Crypto Exchange  (Read 336 times)
Vishnu.Reang
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November 12, 2019, 05:24:58 AM
 #21

I don't understand this. Is it that difficult to travel to Uruguay or Chile, and exchange your Argentine Peso banknotes to Bitcoin? I know that is it not viable for small amounts. But in case you are purchasing 1 BTC or higher amounts, then what is the point in paying 20% to 30% extra? BTW, I am not sure about the exchange rates in Uruguay and Chile. I assumed that they'll be near the global rates.
1Referee
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November 12, 2019, 02:17:37 PM
 #22

I don't understand this. Is it that difficult to travel to Uruguay or Chile, and exchange your Argentine Peso banknotes to Bitcoin? I know that is it not viable for small amounts. But in case you are purchasing 1 BTC or higher amounts, then what is the point in paying 20% to 30% extra? BTW, I am not sure about the exchange rates in Uruguay and Chile. I assumed that they'll be near the global rates.

I'm pretty sure that most people buying larger amounts have other routes of acquiring Bitcoin with lesser premiums. On top of that, the liquidity in Chile is quite poor as well, so I'm not sure how much benefit there is in traveling to that country. Uruguay I assume is way worse in terms of liquidity so that's not going to provide any help at all.

https://coin.dance/volume/localbitcoins/ARS
https://coin.dance/volume/localbitcoins/CLP

Bitcoin is so scarce that there just aren't that many coins circulating in that region. It will only become more of a problem as the block halving will soon cut the inflation rate in half, which means that coins become even more scarce and thus more expensive.
Carlton Banks
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November 12, 2019, 09:04:27 PM
 #23

I don't understand this. Is it that difficult to travel to Uruguay or Chile, and exchange your Argentine Peso banknotes to Bitcoin?

sure.

ask yourself though: would you, Vishnu, like to buy some Argentinian currency? Wanna exchange it for some BTC? No? Well why would a typical BTC holder in Montevideo or Santiago feel any differently. They likely don't want USD or EUR either, so selling BTC for ARS is nothing short of suicide.

Vires in numeris
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