2013-07-09 Bitcoins Soar In Value In Argentina Due To Capital Control Laws

[Birdy]

http://forexmagnates.com/bitcoins-soar-in-value-in-argentina-due-to-capital-control-laws-bitcoin-meetup-held-in-nations-capital/

Great arbitrage opportunity...if you want Pesos.

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[zeroday]

Argentina's economics now is exactly what European Union will become over the next few years.
Stick to your bitcoins, guys...

[BitChick]

http://forexmagnates.com/bitcoins-soar-in-value-in-argentina-due-to-capital-control-laws-bitcoin-meetup-held-in-nations-capital/

Great arbitrage opportunity...if you want Pesos.

I would think that the Argentinians could purchase BTC in USD and then arbitrage them themselves? 

[pagan999]

I have a feeling that the last good cheap buying opportunity is quickly passing away right now. I doubt you will ever see 2-digit BTC's again.

[Birdy]

http://forexmagnates.com/bitcoins-soar-in-value-in-argentina-due-to-capital-control-laws-bitcoin-meetup-held-in-nations-capital/

Great arbitrage opportunity...if you want Pesos.

I would think that the Argentinians could purchase BTC in USD and then arbitrage them themselves? 

Getting USD legally is very difficult in Argentinia and getting it illegally is very expensive. So they probably can't.

[BitChick]

http://forexmagnates.com/bitcoins-soar-in-value-in-argentina-due-to-capital-control-laws-bitcoin-meetup-held-in-nations-capital/

Great arbitrage opportunity...if you want Pesos.

I would think that the Argentinians could purchase BTC in USD and then arbitrage them themselves? 

Getting USD legally is very difficult in Argentinia and getting it illegally is very expensive. So they probably can't.

So maybe a vacation to Argentina for those that are holders of good amounts of BTC would be a smart thing to do?   I suppose the trip would more than pay for itself.  That is, unless the price per BTC catches up at some point.

[Cubic Earth]

So maybe a vacation to Argentina for those that are holders of good amounts of BTC would be a smart thing to do?   I suppose the trip would more than pay for itself.  That is, unless the price per BTC catches up at some point.

Exactly what I was thinking!  Even for [the unfortunate] people who don't yet have any bitcoins, they can travel there at a big discount if they just load up their brain wallets before they get on the plane.

[StarfishPrime]

Argentina's economics now is exactly what European Union will become over the next few years.
Stick to your bitcoins, guys...

The ECB has already shown that it will not hesitate to do whatever it takes to keep the wheels from falling off the euro as it careens ever faster toward the brick wall of fiscal reality. Things are about to get interesting, for sure.

[btceic]

great read, thanks for posting.