Strike has launched in Argentina

[worle1bm]

This might even position Argentina as a candidate for becoming the next country that makes Bitcoin legal tender.

When the president of El Salvador, Bukele, said that by 2022 there would be two countries that would follow in his footsteps, I thought of Argentina. Let's hope it is true and that other countries will join them. Let's see if the big guys learn and realize that the best way to fight inflation is the Bitcoin standard, but that's a long way off, I'm afraid.

It seems reasonable with this statement as more countries are on the verge of making some regulations regarding crypto or say some of them will also opt the concept of making it legal tender and maybe Argentina is among them.There are many users and merchants using Strike in El Salvador and now its launch in new countries give another adoption sign.The government is also not against them and maybe some good for the residents come soon.

[SFR10]

I was expecting the UK or a European country to be the next in line for their expansion plans ^{[like how most US-based companies normally expand]}, but I was wrong and I'm glad that they have a different kind of approach, as opposed to others.

In addition, Bitcoin sometimes loses in value much more than paper money, and it's not at all pleasant to wake up in the morning and see that you've lost 20% - this may mean that you may not be able to pay for electricity or gas that month.

Exactly! For some reason, Jack posted a tweet that would probably mislead most of the newcomers:

• With Strike, the Argentinian people can now hold a stable cash balance that can be spent both instantly and with no fees.

But which country is 1 more left?

Probably Venezuela...
^{- A reporter "asked him [skip to 3:04]" and he responded in a tricky way!}

[stompix]

I am afraid that they will become the next Zimbabwe or Venezuela (I forgot which one)

Both of them 

Probably Venezuela...
^{- A reporter "asked him [skip to 3:04]" and he responded in a tricky way!}

Venezuela is going to be a tricky one, the laws there is a mess, I seriously doubt they would allow such service in the country where it's so easy to see what the citizens will use it for, rush from the bolivar to other currency, and then hiding their assets, so not going to happen without strike agreeing to give the government access to all the information on the platform.
Plus the fact that they're still pouring money and resources into both the petro and Sunacrip, the government overseers of cryptocurrencies.

But who knows..
My bet before this for the next country they would expand would have been Mexico but seems like I was way off.

[Lucius]

Exactly! For some reason, Jack posted a tweet that would probably mislead most of the newcomers:

With Strike, the Argentinian people can now hold a stable cash balance that can be spent both instantly and with no fees.

I believe Jack meant direct transactions here when Bitcoin is used only as an intermediary between two Stike accounts that have, say, balances in $ or EUR.

Strike is an application that allows Lightning payment transactions with just a debit card or bank account. However, its peculiarity is that instead of having to buy bitcoins to load their Lightning channels, Strike users do not have to use BTC.

In other words, you pay in fiat, but you use Lightning. If you want to convert fiat to bitcoin, you transact in Lightning and pay through Strike.

According to Mallers, “This is important because Strike users are not exposed to volatility, tax consequences, custodial challenges, node management, channel management, etc. When a user makes a Lightning payment with Strike, their balance is debited. When a user receives a payment on Strike, their balance is credited.”

I have to admit that I have only looked at Stike through the prism of El Salvador so far, but some things are a little clearer to me now - because this is about paying in fiat using LN without BTC being directly involved in the transaction. In fact, person A sends $1000 to person B using Strike who transfers that amount to person B's wallet free of charge using LN and converts back to fiat.

Let’s take a practical example: Paula wants to send €1,000 (balance available in the Strike App) to her friend Ana in France. Strike debits the required amount from the user’s linked account or available balance and converts it into Bitcoin. Strike moves the Bitcoins on the Lightning network in less than a second and at no cost.

Then, the same application automatically converts the bitcoins back into euros and will credit the user’s account.

[lixer]

I can see this as the beginning of a new era for Bitcoiners in Argentina. The ability to exchange their fiat for Bitcoin in an easy and cheap way will help many in there.

This might even position Argentina as a candidate for becoming the next country that makes Bitcoin legal tender.

The most important thing is that their government embraces it, and continues to allow people to make use of it. If their government does not allow it, it is going to be a bit of a challenge for some people to be able to make use of it. I’m not sure about them making Bitcoin a legal tender.

El Salvador has done it, and it’s good that they did, but we are not really sure if other countries are going to follow them to do the same thing. Right now all we can be asking for is that Bitcoin continues to grow, and also that there should continue to be more adoption of Bitcoin everywhere around the world.

[Ararbermas]

Strike is one of the simplest and cheapest ways to buy Bitcoin and pay using lightning.

Argentina has one of the largest inflation problems in the world. In about a decade, one Argentinean peso went from roughly $1 to roughly one cent.

Here's the announcement:

https://twitter.com/jackmallers/status/1480964517169410055?s=21

I can see this as the beginning of a new era for Bitcoiners in Argentina. The ability to exchange their fiat for Bitcoin in an easy and cheap way will help many in there.

This might even position Argentina as a candidate for becoming the next country that makes Bitcoin legal tender.

for sure many people will appreciate such way of buying bitcoin if however it's cheaper than other service around the internet. And yes there's a chance they will become the second country that will gonna make bitcoin as a legal tender, because you know just imagine how they can buy bitcoin immediately because of that reason..

[riso2015]

The strike has been launched in Argentina, this is the first step taken by the Argentinian government, most likely they did all of that, just in case, if one day there will be inflation in fiat currency, maybe this is one of the countries mentioned by bukele , in his interview last month. hopefully in the future bitcoin will be better, and more countries will legalize bitcoin..

[PreciousH]

I think the main reason to fight with inflation is the use of Bitcoin. However, strike is the most easiest way to buy bitcoin. These makes bitcoin simple and cheap.

[Kelvinid]

I think the main reason to fight with inflation is the use of Bitcoin. However, strike is the most easiest way to buy bitcoin. These makes bitcoin simple and cheap.

What will happen to fiat money will likely happen to Bitcoin someday. The market is so tricky, as well as manipulation. Bitcoin could help but not literally it will stop inflations, not for sure.

May the Argentinian leaders will take this as an opportunity to help their people through Bitcoin but this will only happen if they are also interested in this. Perhaps, haven't heard that that will adopt crypto (or just missed it). I hope they will get it and officially have a plan in regards to Bitcoin adoption just like El Salvador did.