Bitcoin set to take on Argentina's peso, new exchange launches in Latin America

[CryptoCurrencyInc.com]

Bitcoin set to take on Argentina's peso as new exchange launches in Latin America
http://www.cityam.com/blog/1401705864/bitcoin-set-take-argentinas-peso-new-exchange-launches-latin-america

[Ron~Popeil]

That could be a big deal. Argentina's government is a poster child for currency manipulation. 

[adamselene]

Argentina needs this, but being a centralized service, won't it be super simple to just close them down if Buenos Aires really begins to feel threatened?

[Ron~Popeil]

Argentina needs this, but being a centralized service, won't it be super simple to just close them down if Buenos Aires really begins to feel threatened?

There will likely be a few more more coming on line as well. Hopefully it saturates the market so fast there that they won't have time to react before the genie is out of the bottle.

[mkc]

Will Argentina be the first country to use bitcoin as "national" currency? I mean, everybody there use bitcoin.

[Ron~Popeil]

Will Argentina be the first country to use bitcoin as "national" currency? I mean, everybody there use bitcoin.

It is all ready pretty popular there. I doubt their government gives up easily. Governments never willingly give up power.

[SatshiFan]

This will end ugly.

[bryant.coleman]

The Argentine Peso is not even a serious rival for Bitcoin. Just compare the two currencies.

Here is the Argentine Peso, vs the US Dollar:



And here is Bitcoin, vs US Dollar:

[TrailingComet]

Fantastic initiative, hope it takes off in a sensible way
Buenos Aires already largest btc acceptor per capita globally
This might just be what it takes to trigger mass adoption

[Ron~Popeil]

The Argentine Peso is not even a serious rival for Bitcoin. Just compare the two currencies.

Here is the Argentine Peso, vs the US Dollar:



And here is Bitcoin, vs US Dollar:

It is kind of a no brainer for them. I hope it really takes off there and allows them to accumulate real wealth.

[bryant.coleman]

It is kind of a no brainer for them. I hope it really takes off there and allows them to accumulate real wealth.

It is a no-brainer, but it will face a lot of opposition from the federal government, as any such mass adoption of Bitcoin will further push down the value of the Argentine Peso.