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Author Topic: Mexican currency is dropping fast will they use BTC?  (Read 1614 times)
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November 11, 2016, 10:33:05 AM
 #21

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?  Grin
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.

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.

 
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November 11, 2016, 10:41:32 AM
 #22

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.

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November 11, 2016, 11:20:33 AM
 #23

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.

 
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November 11, 2016, 11:26:44 AM
 #24

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 Smiley Whatever he ever does, it going to affect Mexican Peso badly, no doubt about that. Mexico is done.




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November 11, 2016, 11:33:46 AM
 #25

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.
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November 11, 2016, 11:42:57 AM
 #26

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
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November 11, 2016, 11:49:59 AM
 #27

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?  Grin

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!

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November 11, 2016, 12:50:08 PM
 #28

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?  Grin

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.
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November 11, 2016, 01:45:34 PM
 #29

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?  Grin

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.


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November 11, 2016, 02:08:10 PM
 #30

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?  Grin

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.

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November 11, 2016, 02:13:38 PM
 #31

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


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.

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November 11, 2016, 03:01:27 PM
 #32

And trump will have them pay for the wall in bitcoin Grin
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November 11, 2016, 03:08:51 PM
 #33

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

People will be hesitant when switching completely to bitcoin because it's value is so unstable.
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November 11, 2016, 03:46:11 PM
 #34

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

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
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November 11, 2016, 05:26:47 PM
 #35

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.
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November 11, 2016, 06:04:55 PM
 #36

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

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November 11, 2016, 09:05:02 PM
 #37

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.
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.



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November 12, 2016, 01:10:54 PM
 #38

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


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.

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November 12, 2016, 01:14:03 PM
 #39

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


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.

 
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November 12, 2016, 01:55:19 PM
 #40

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.
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