Argentina's Leading Presidential Candidate Preaches Bitcoin

[drwhobox]

In my opinion it is just a political approach to getting ahead of his competition by adding something extra to his election campaign. Though I am not a guy who cares about politics or barely understands the political game, but his approach against central banks makes me think of this.

I don't think any president or government don't want to block his way of getting people's money. That is some trap for sure -

“the Central Bank is a scam. It is a mechanism by which politicians cheat the good people with the inflationary tax.” - Javier Gerardo Milei

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[AmoreJaz]

In my opinion it is just a political approach to getting ahead of his competition by adding something extra to his election campaign. Though I am not a guy who cares about politics or barely understands the political game, but his approach against central banks makes me think of this.

I don't think any president or government don't want to block his way of getting people's money. That is some trap for sure -

“the Central Bank is a scam. It is a mechanism by which politicians cheat the good people with the inflationary tax.” - Javier Gerardo Milei

i am also thinking that way. maybe he wants to use this marketing campaign to get more votes from his people. definitely, they will still need the services of their Central Bank. he should not play a game that will possibly throw dirty laundry to his government by saying something negative. for sure, he still owns at least one bank account. if he is saying such statement, he should make sure that he doesn't own any money from those banks.

[Hydrogen]

It appears many nations around the world are attempting to boost local economies by rolling out measures to attract digital nomads and cryptocurrency whales.

Even if el salvador's crypto mainstream adoption isn't progressing well. Is it possible they have succeeded in attracting crypto whales to reside within their borders? A feat which argentina is now attempting to duplicate.

Capital flight is a big concern in this day and age. Many nations have recently passed laws to limit influx of capital outside of their borders. On the opposite end of the spectrum, many nations are currently attempting to do the opposite by taking steps to invite an influx of capital inside of their borders.

World leaders have to take note of crypto exchanges having billions at their disposal. How much were FTX and SBF worth in tax revenues at their peak? Leaders of the world have to see a potential for attracting and taxing crypto wealth as emerging markets. Its simply the smart play.

[coolcoinz]

I believe that in time, countries hit by hyperinflation will go into extreme measures to stay afloat. Pretty much like Venezuela tried to do with Petro. I don't know if it's good for bitcoin because if they fail they'll blame that on bitcoin and at least half of them will fail because the root of the problem is not their fiat currency but politicians and debt.

The next bull run won't come soon. It won't come when a next halving is still far. Bitcoin bull runs are triggered by its halving every four years.

Next year 2023, we can have a mini bull run similar to a mini bull run in 2019. Having 100% increase for your portfolio in a mini bull run is good enough. Zoom out the chart and see what occurred in 2019 and how that mini bull run started and ended as well as how Bitcoin ended that year compares to its price at beginning of 2019.

You rely to much on past performance trying to predict the future. It's like trying to predict someone's marathon run by using his time from a similar event 2 years ago. This doesn't mean anything.
Sure, there was a mini bull run in 2019, but it wasn't there in 2014 or 2015. If past performance is an indicator, why is it that in 2017 bitcoin rose 20x and in 2021 only 2.5x from the last ATH?

[Slow death]

I really don't understand what is so attractive about the idea that politicians give some kind of approval for Bitcoin, when it basically functions without any permission from the Genesis block until today.

bitcoin wouldn't go far if it didn't have a lot of people buying it and for those many people to buy bitcoin it is necessary that the politicians who are running the country allow the banks, and even the people to buy bitcoin, so at the end of the day for anything in a country is used and it takes approval from the politicians who are governing the country, it all depends on the politicians. the world has always walked towards centralization (KYC), since its creation bitcoin was already condemned to follow the path of centralization, if a government says: "we are banning bitcoin and it will be a crime for anyone to buy or own bitcoin" then the people of that country will go having to respect that, just think that if all governments banned bitcoin then the price would be much lower than 100$

following this reasoning it is clear that if this guy who is running to be president of argentina becomes president and manages to convince other politicians in the parliament of argentina to pass good bitcoin laws then that would be good for bitcoin, of course the price could even not go up much, but think that you could already travel and arrive in argentina and pay for a hotel with bitcoin, restaurant, tv, electricity, house and car rental with bitcoin, this is not a matter of 100,000 people in argentina wanting to use it or not bitcoin, it's a question that if they pass good laws, even if it's a single person from Argentina using bitcoin, it's already a good thing

[n0ne]

In my opinion it is just a political approach to getting ahead of his competition by adding something extra to his election campaign. Though I am not a guy who cares about politics or barely understands the political game, but his approach against central banks makes me think of this.

I don't think any president or government don't want to block his way of getting people's money. That is some trap for sure -

“the Central Bank is a scam. It is a mechanism by which politicians cheat the good people with the inflationary tax.” - Javier Gerardo Milei

i am also thinking that way. maybe he wants to use this marketing campaign to get more votes from his people. definitely, they will still need the services of their Central Bank. he should not play a game that will possibly throw dirty laundry to his government by saying something negative. for sure, he still owns at least one bank account. if he is saying such statement, he should make sure that he doesn't own any money from those banks.

We can't expect loyalty from the politicians. Everyone uses all the possible chances to grab some votes. The same tactics is being followed by the presidential candidate. For the same we shouldn't blame him that he took more time. For a presidential candidate it is really easy to show that he doesn't have any banking account.

[Leviathan.007]

Link to news
https://bitcoinist.com/argentina-presidential-candidate-preaches-bitcoin/

Nice to see some powerful people coming in support of Bitcoin once again. Looks like the next bull run is near.

It is unclear whether or not this news is accurate, and whether Argentina's presidential candidate is a bitcoin supporter, but we can't expect to see a substantial change in bitcoin prices or bitcoin markets, since all of these people tend to spread some news in order to gain fame and recognition for their own benefit, but when they actually get power, they will act differently, also as we all know we are still on the bearish market and there is still not any valid signal to say the bear market is over yet, especially when we are at the begging of this year and nothing is clear yet.

[romero121]

Link to news
https://bitcoinist.com/argentina-presidential-candidate-preaches-bitcoin/

Nice to see some powerful people coming in support of Bitcoin once again. Looks like the next bull run is near.

It is unclear whether or not this news is accurate, and whether Argentina's presidential candidate is a bitcoin supporter, but we can't expect to see a substantial change in bitcoin prices or bitcoin markets, since all of these people tend to spread some news in order to gain fame and recognition for their own benefit, but when they actually get power, they will act differently, also as we all know we are still on the bearish market and there is still not any valid signal to say the bear market is over yet, especially when we are at the beginning of this year and nothing is clear yet.

Yes, we haven't got any clear information on the president's view on bitcoin. In recent years bitcoin have begun to coexist with the traditional market. This makes cryptocurrency to be something familiar among all levels of people. Making way for something new will create an attraction and Argentina president is trying to do it. We don't know how effective his statements will make changes in the market. For now the market is moving of its own.

[nurilham]

Nice to see some powerful people coming in support of Bitcoin once again. Looks like the next bull run is near.

It seems that this will not have much effect on Bitcoin, moreover, we don't know if he spoke like that just to attract more sympathizers or if he really struggled and was interested in Bitcoin. This is actually good news because if more and more leaders or prominent people in a country support Bitcoin then this will be good news. But again I'm not sure if this will really have a big impact on the crypto business. Even the much bigger news has not been able to boost Bitcoin's current condition because it is still in a bearish period. The bullish period usually comes after the halving, so maybe this won't be decisive.

[d5000]

It is very unlikely that this guy (Javier Milei) will be voted President of Argentina in October. He has around ~25% support, but it is concentrated in certain areas (capital region and some other big cities), and also a lot of people oppose him fervourously.

The reason why it's difficult for him is that Argentina has a two-round presidential election system. It is not totally unrealistic that Milei arrives first place in the first round. There are two major party coalitions in Argentina currently: the Peronists or Frente de Todos (FdT) - current government -, and Juntos por el Cambio (JxC) with UCR and Pro - a center-right coalition, which led the government between 2015 and 2019. According to current polls Milei could aim to get a similar result to these two forces, e.g. all three getting around 25-30%, thus creating a three-party system.

But even if he arrives first or second in the first round, he has to win the second round ("ballotage") too. Here it's becoming complicated for him. He has better chances if he faces a candidate from the Peronists (FdT, current government), because then it could become a center-right vs center-left battle. But the Peronists are very strong in most provinces, so I'd give him around 30% to succeed in this constellation. It's also noteworthy that one of the possible Peronist candidates, current Minister of Economy Sergio Massa, is also a Bitcoin supporter, but has more traditional views about economic thought.

It's very unlikely that Milei wins if he faces a Juntos por el Cambio candidate in the second round though, as JxC is much closer to the political center and would for sure attract also Peronist votes.

I quite agree with some of Milei's stances but not with everything, some of his ideas seem quite otherworldly and utopian (before his Bitcoin "love" he has advocated for an introduction of the US dollar in Argentina), and some even reactionary.

[dansus021]

The next bull run won't come soon. It won't come when a next halving is still far. Bitcoin bull runs are triggered by its halving every four years.

Next year 2023, we can have a mini bull run similar to a mini bull run in 2019. Having 100% increase for your portfolio in a mini bull run is good enough.

Sorry but you post in 2023 already, so yeayyyy we will be see mini bull run this year. Oh by the way US inflation rate is declining which is a good news although i think we gonna see mini bull run q2-q4  this year if there no major shit on economic happen so packed it up guys we are gonna moon soon

[xSkylarx]

I thought before reading the article that it was just some propaganda that he was using to attract voters to him, but he is leading in the polls, so we can't really know if he wins. But based on what he said, I could think that it would be possible for Argentina to legalize bitcoin as a payment method and use it in their daily transactions, just like El Salvador. I am not thinking of the bull run, but for sure this would affect the price of bitcoin, and I am glad that there are now a few countries sort of legalizing bitcoin.

[Hispo]

I am not thinking of the bull run, but for sure this would affect the price of bitcoin, and I am glad that there are now a few countries sort of legalizing bitcoin.

Argentina would be an even bigger deal to the price and adoption of Bitcoin, in my opinion.
It is not only the fact Argentina is way bigger than El Salvador in territory and population, but there is also already a well established crypto community there ( as a consequence of the economical situation of the nation).

The only problem would be the opposition to such adoption and pro Bitcoin laws by the political left in Argentina, they are accustomed to have the monopoly of USD and other kind of currencies. They would not be very happy on people being able to fully control their assets the way Bitcoin allows to.

[_BlackStar]

It seems that this will not have much effect on Bitcoin, moreover, we don't know if he spoke like that just to attract more sympathizers or if he really struggled and was interested in Bitcoin. This is actually good news because if more and more leaders or prominent people in a country support Bitcoin then this will be good news. But again I'm not sure if this will really have a big impact on the crypto business. Even the much bigger news has not been able to boost Bitcoin's current condition because it is still in a bearish period. The bullish period usually comes after the halving, so maybe this won't be decisive.

I also have the same thoughts on this, but at least it will indirectly support more bitcoin publicity. The impact on the price will not be affected by just a presidential candidate apparently supporting bitcoin, but there are bigger things that should move the market.

Even if someone seems support bitcoin today, it doesn't mean that he will fully support it if he wins the election. Yes, we know that he is only an elected government official and of course he cannot work alone, so a change in attitude is very likely to occur afterwards.

[Ale88]

It seems like there are lots more bitcoins lovers than haters in that country

Well, it's not difficult to see why The Argentinian Peso is pretty much a joke, they also try to limit a lot the use and distribution of US$, bitcoin could really change things for many people and also businesses. For sure it would be extremely interesting since Argentina, despite all the problems, is a way more important country than El Salvador, with all due respect. And maybe other South American countries could follow...

[uneng]

I thought before reading the article that it was just some propaganda that he was using to attract voters to him, but he is leading in the polls, so we can't really know if he wins. But based on what he said, I could think that it would be possible for Argentina to legalize bitcoin as a payment method and use it in their daily transactions, just like El Salvador. I am not thinking of the bull run, but for sure this would affect the price of bitcoin, and I am glad that there are now a few countries sort of legalizing bitcoin.

It's not so simple. A president in a latin american country can do nothing by himself. Who controls the country are the Congress and the Supreme Court. If he wants to send a bitcoin legal tender proposal he will need congressmen's support, so he has to compose a majority of the house by his side. I don't know how strong the leftwing party is in Argentina right now, but they use to be strong there. Moreover, leftwing is currently in charge of Argentina and if they maintain their influence, it's going to be even harder for the hypothetical president Javier Gerardo Milei to pass his bitcoin project ahead.

Let's hope his pro-bitcoin statements can at least encourage more argentinians to adopt bitcoin against the devalued peso argentino.

[Don Pedro Dinero]

It seems like there are lots more bitcoins lovers than haters in that country

Well, it's not difficult to see why The Argentinian Peso is pretty much a joke, they also try to limit a lot the use and distribution of US$, bitcoin could really change things for many people and also businesses. For sure it would be extremely interesting since Argentina, despite all the problems, is a way more important country than El Salvador, with all due respect. And maybe other South American countries could follow...

Yes, it would seem that they are in a similar case to El Salvador and could try something similar if this candidate wins, but I see it as unlikely. Looking ahead to the next halving, it would be quite interesting if we had a few more countries that had adopted bitcoin, and could take advantage of it with a price increase. El Salvador is holding up despite the price drop, which has brought a lot of criticism to the president, but the bear market is not going to last forever. What argument will the media use to criticise when the price does not stop rising?

[Gallar]

bitcoin is now increasingly visible and smells good in the eyes of the world, with lots of support from great and influential people, it will certainly increase the popularity of bitcoin.
like the founder of paypal peter thiel he stated that bitcoin has enormous potential, just like gold, and he said bitcoin also has the potential to change the world. this is why thiel builds or establishes paypal.

Another supporter is also the prince of Saudi Arabia, namely Alwaleed bin Talal, the richest Arab in the world believes that bitcoin will explode like Enron.

I believe slowly bitcoin will continue to increase from all angles and aspects.

[lissiacmag]

If what he said about bitcoin adoption will be true when he gets into power,I see it as a positive impact on bitcoin but this doesn't mean that the price  will be as high as you predicted. It will not also lead to massive adoption by other countries, you should also remember that not everyone will use bitcoin if after adoption.

Politician can not influence the price of bitcoin since it is not controlled by the government. Sometimes politicians use this as a strategy for the youths to vote them into power but after they have won the election,they will go against bitcoin adoption.

Your point is succinct and clear, yes no government can control Bitcoin, but getting older and more countries or politicians openly supporting Bitcoin is always a positive thing. 2023 is destined to be an extraordinary year. Whether it is a turning point or not, time will naturally give us the answer. What we need to do is to let more people around us accept Bitcoin and use it. Bitcoin will eventually coexist with the fiat currencies of various countries.

[Lucius]

bitcoin wouldn't go far if it didn't have a lot of people buying it and for those many people to buy bitcoin it is necessary that the politicians who are running the country allow the banks, and even the people to buy bitcoin, so at the end of the day for anything in a country is used and it takes approval from the politicians who are governing the country, it all depends on the politicians. the world has always walked towards centralization (KYC), since its creation bitcoin was already condemned to follow the path of centralization, if a government says: "we are banning bitcoin and it will be a crime for anyone to buy or own bitcoin" then the people of that country will go having to respect that, just think that if all governments banned bitcoin then the price would be much lower than 100$

I think you give too much importance to politicians when it comes to Bitcoin, because politicians are just puppets of those who rule from the shadows and who actually decide whether something will be illegal or not. When it comes to Bitcoin, of course they don't like the idea it promotes, but business and profit come first, and they always have everything under their control.

If the world leaders were united in the decision to ban Bitcoin, then they would be no better than those who are constantly called out for the lack of democracy and human rights and freedoms. Therefore, I do not see that the US, EU, UK or Japan would rank with countries like China, Russia or maybe even India, which are quite restrictive in this regard.

Trading with Bitcoin can always be completely switched to DEX, and then we remove politicians, banks and CEX from the entire equation - which of course would not suit many people because they would gladly sell Bitcoin to the black devil just to make a profit.