Bitcoin To Transform Argentina

[bornil267645]

Although the bitcoin community in Argentina is not as large as some of the other communities like USA or China, but still for a much smaller perspective, bitcoin have really grown up in there. There are almost 100 services that allows BTC in Buenos Aires. So that's a positive start, and with their economic potential, Bitcoin market will continue to expand at a very rapid pace in Argentina, no doubt.

http://www.coinbuzz.com/2015/04/04/bitcoin-will-transform-argentina/

[Undermood]

Bitcoin is still at its infant stage and there is a long way to go. The good new is that it start developing there!

[Miracal]

Especially the developing world is needing bitcoin! They lack bank services and their fiat money is inflated.

[bryant.coleman]

Argentina badly needs Bitcoin. The country has suffered terribly at the hands of greedy bankers and vulture fund managers. Bitcoin will save ordinary hard working Argentines from banker slavery.

[Gleb Gamow]

Although the bitcoin community in Argentina is not as large as some of the other communities like USA or China, but still for a much smaller perspective, bitcoin have really grown up in there. There are almost 100 services that allows BTC in Buenos Aires. So that's a positive start, and with their economic potential, Bitcoin market will continue to expand at a very rapid pace in Argentina, no doubt.

http://www.coinbuzz.com/2015/04/04/bitcoin-will-transform-argentina/

Argentina is home to BitPagos, a bitcoin-to-peso digital exchange which raised over $600,000 in 2014 from several US venture capitalists: Tim Draper, Barry Silbert and Pantera Capital. BitPagos saw great success in Argentina, processing close to $150,000 thousand dollars per month in bitcoin transactions.

Let me see if I have this correct. Three entities invested a total of $600K to get a piece of an entity that's doing close to $150K per month. If the later entity charged a 10% fee and had ZERO overhead, the three investors would get their investments back in how long?

Further, Sebastian Serrano owns PayMentez.

Paymentez® processes payments locally for online games, websites and mobile apps in Latin America. We're connected with local credit card acquirers in 5 countries and offer bank transfer and cash methods in each country to provide a comprehensive local payment platform for our customers.

An entity that accepts Bitcoin. MY BAD! An entity that DOES NOT accept bitcoins.

Further, Sebastian Serrano owns MetaTiendas.



Notice anything missing?

At least one other entity made the cut: https://www.google.com/search?q=site%3Awww.devsar.com+bitcoin&rlz=1C1CHFX_enUS549US549&oq=site%3Awww.devsar.com+bitcoin&aqs=chrome..69i57j69i58.7637j0j4&sourceid=chrome&es_sm=122&ie=UTF-8

[OpenOcean]

Hopefully this is the case. Argentina is a great example of a system that Bitcoin could potentially benefit.

[Q7]

It's good to see bitcoin gaining traction and popularity in almost every parts of world. Whether it is developing country or developed country alike, people regard bitcoin as a form of solution and alternative to the current financial mess. From what I can see, the growth has been on a steady natural climb and although there is really not a lot of people knowing much about bitcoin, but I can see that changing drastically few years down the road.

[OROBTC]

...

I can fully understand why BTC is popular in Argentina.  Argentina's governments, on the whole, have been extremely irresponsible for many decades.  Their government now makes it very hard for Argentines to escape from a badly managed currency.

Bitcoin is partial liberation.  Assuming (assuming things, of course, is dangerous) that the Arg. .gov does not come down hard on BTC there, Bitcoin is a way for almost anyone to escape a currency on the verge of destruction by Socialist hyperinflation.

I would not be surprised to see news that BTC would be gaining traction in Venezuela too.



*** News from Argentines themselves re BTC would be very useful here! ***

[randy8777]

for the citizens in argentina bitcoin will be very welcome. but the government itself is corrupt and fully rotten from inside that they will simply ignore it. their priority is how can they fill their pockets as much as possible.

[Cryddit]

Let me see if I have this correct. Three entities invested a total of $600K to get a piece of an entity that's doing close to $150K per month. If the later entity charged a 10% fee and had ZERO overhead, the three investors would get their investments back in how long?

You have to factor in Argentinian inflation, which is pretty serious.  Not as quickly as you'd think.

OTOH, Argentinian inflation is a good reason for Argentinians to put their savings somewhere else besides their rapidly-sinking national currency - even if Bitcoin is volatile and unreliable in value, it's a good deal relative to that.

[bryant.coleman]

for the citizens in argentina bitcoin will be very welcome. but the government itself is corrupt and fully rotten from inside that they will simply ignore it. their priority is how can they fill their pockets as much as possible.

Corruption is a big issue everywhere in Latin America, and not just a problem unique to Argentina. But I believe that Cristina Fernández de Kirchner is a honest woman with good intentions. Some of her colleagues might be corrupt.. but I can't blame her for that.

[Ron~Popeil]

for the citizens in argentina bitcoin will be very welcome. but the government itself is corrupt and fully rotten from inside that they will simply ignore it. their priority is how can they fill their pockets as much as possible.

Corruption is a big issue everywhere in Latin America, and not just a problem unique to Argentina. But I believe that Cristina Fernández de Kirchner is a honest woman with good intentions. Some of her colleagues might be corrupt.. but I can't blame her for that.

Yeah she's awesome. I mean it isn't like the prosecutor that brought charges against her administration died under mysterious circumstances or anything. I wish we had more leaders like her and Vladimir Putin. She would look hotter riding a bear shirtless though.

 

[medUSA]

Argentinian Peso has dropped almost 50% in 2 years and domestic inflation is 20%. It is not surprising Bitcoin is popular in Argentina. Argentinians need methods to retain the purchasing power of their money. I only just learnt that money coming into Argentina is taxed at 20-30 percent after being forced to comply with the "official" exchange rate! Bitcoin is going to be popular with any country with a depreciating currency.

Corruption is a big issue everywhere in Latin America, and not just a problem unique to Argentina.

I once watched an interview with Andreas Antonopoulos, he actually said that bitcoin will be so successful that bribes could be carried out in Bitcoin because government officials would be reluctant to take a depreciating local currency 

[nachoig]

for the citizens in argentina bitcoin will be very welcome. but the government itself is corrupt and fully rotten from inside that they will simply ignore it. their priority is how can they fill their pockets as much as possible.

Corruption is a big issue everywhere in Latin America, and not just a problem unique to Argentina. But I believe that Cristina Fernández de Kirchner is a honest woman with good intentions. Some of her colleagues might be corrupt.. but I can't blame her for that.

The hell is full of good intentions. She is a lunatic.

Argentinian Peso has dropped almost 50% in 2 years and domestic inflation is 20%.

Domestic inflation now is about 38-40%. The 20% rate comes from the official index, which is being manipulated by the government since 2007. The accumulated inflation since 2002, when the peg with the US dollar was finished, is over 1000%. But the government still refuses to issue bills with greater denomination than 100 pesos, turning the transportation of the money a serious problem. Machines to counting bills are common in the commerce. I think this is done not just to avoid to admit the inflation problem, but to force people and commerce to use eletronic payments. Also, there was a bill proposal in the province of Buenos Aires to obligate merchants to have a POS machine to accept debit/credit cards. The bill only didn't pass because of the pression from the small and medium businesses.

[Jybrael]

As more and more people in Argentina begin to accept Bitcoins there will be more and more changes that will start to happen. And I think it is good that they have a 100+ services for Bitcoin there. I know how bad the inflation is and how much greedy vultures have been ravaging that country. Go go Bitcoin powah

[IDKwhatimdoing]

I hope they do adopt Bitcoin, otherwise people there will have no money soon!!!! Gotta make it easy for them to sell, buy and accept BTC

[fox19891989]

Good to know that, BTC is very helpful to those developing countries, better than bank.

Advantages:
1. international transaction is much faster than bank wire/transfer, so it's convenient for who working in another country.
2. much lower fees than banks.
3. no fake money.

[OROBTC]

...

My beat (among LatAm countries) is Peru.  Yes, there is corruption there ("fairly big time"), but there is also a fundmental amount of economic liberty there -- for now anyway -- that keeps Peru free of some of the distortions of Argentina.  Maybe that is why Peru has such a low rate of BTC adoption, less need...

bryant.coleman

I respectfully disagree 100,000% re Kirchner.  She was a fangirl of Hugo Chavez (the Venezuelan hotels now ask their GUESTS to bring their own TP...).  Her Peronista party in Argentina is the corrupt of the corrupt.  She uses thugs (I can't remember their nickname) to beat up political and other opponents.  She is obstructing a legitimate investigation into terrorism there that may reach deep into the government.

[Daniel91]

Although the bitcoin community in Argentina is not as large as some of the other communities like USA or China, but still for a much smaller perspective, bitcoin have really grown up in there. There are almost 100 services that allows BTC in Buenos Aires. So that's a positive start, and with their economic potential, Bitcoin market will continue to expand at a very rapid pace in Argentina, no doubt.

http://www.coinbuzz.com/2015/04/04/bitcoin-will-transform-argentina/

It's great to hear this.
I know that economic and financial situation in Argentina is no so good so BTC surely can help in long term.
Their banks can collapse to, national currency also, so if their government can recognize real potential of BTC, they can become first country in the world to accept BTC as official currency.
This will make them financially independent from world financial institutions (World bank) and give new, fresh, start to the whole country.
We really need one country to start, and other countries will follow as well

[mitus-2]

i lived in Argentina for almost 1 year and know that BTC will be very helpful.
do you already have an exchange where you can buy/sell BTCs through (internal) wire transfer or the actual legislation forbids it?