Argentina, the next Cyprus ?

[BitCoinDream]

Europe will buy bitcoins aggressively when a few big banks will fail and they will print money to reimburse depositor or perform an haircut on savings

Quite a few big banks failed in Cyprus last year. But no one rushed to gather their Bitcoins. Most of the people remain ignorant about Bitcoins, and they will trust the banks no matter what they do.  

 Bitcoin started raising in price after Cyprus

Think Argentina will block their currency and ban bitcoin like China.

AFAIK Bitcoin is already (officially) banned in Argentina. Wikipedia does not mention that though...

https://en.wikipedia.org/wiki/Legality_of_Bitcoins_by_country

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[niothor]

Europe will buy bitcoins aggressively when a few big banks will fail and they will print money to reimburse depositor or perform an haircut on savings

Quite a few big banks failed in Cyprus last year. But no one rushed to gather their Bitcoins. Most of the people remain ignorant about Bitcoins, and they will trust the banks no matter what they do.  

 Bitcoin started raising in price after Cyprus

That doesn't mean Cypriots rushed to buy bitcoins.  After all it would have been near impossible with the banks closed.

Europe will buy bitcoins aggressively when a few big banks will fail and they will print money to reimburse depositor or perform an haircut on savings

Quite a few big banks failed in Cyprus last year. But no one rushed to gather their Bitcoins. Most of the people remain ignorant about Bitcoins, and they will trust the banks no matter what they do.  

 Bitcoin started raising in price after Cyprus

Think Argentina will block their currency and ban bitcoin like China.

AFAIK Bitcoin is already (officially) banned in Argentina. Wikipedia does not mention that though...

https://en.wikipedia.org/wiki/Legality_of_Bitcoins_by_country

I've already asked you for a source in the last post.
From where do you know that bitcoin is banned in Argentina.

If you don't have a source please stop spreading FUD.

[BitCoinDream]

Europe will buy bitcoins aggressively when a few big banks will fail and they will print money to reimburse depositor or perform an haircut on savings

Quite a few big banks failed in Cyprus last year. But no one rushed to gather their Bitcoins. Most of the people remain ignorant about Bitcoins, and they will trust the banks no matter what they do.  

 Bitcoin started raising in price after Cyprus

That doesn't mean Cypriots rushed to buy bitcoins.  After all it would have been near impossible with the banks closed.

Europe will buy bitcoins aggressively when a few big banks will fail and they will print money to reimburse depositor or perform an haircut on savings

Quite a few big banks failed in Cyprus last year. But no one rushed to gather their Bitcoins. Most of the people remain ignorant about Bitcoins, and they will trust the banks no matter what they do.  

 Bitcoin started raising in price after Cyprus

Think Argentina will block their currency and ban bitcoin like China.

AFAIK Bitcoin is already (officially) banned in Argentina. Wikipedia does not mention that though...

https://en.wikipedia.org/wiki/Legality_of_Bitcoins_by_country

I've already asked you for a source in the last post.
From where do you know that bitcoin is banned in Argentina.

If you don't have a source please stop spreading FUD.

I read it somewhere in this forum only, more precisely in the discussion section. Hence I said AFAIK, not sure. But it seems you are confident that it is not banned at Messi's homeland. So r u from Argentina ?

[niothor]

I read it somewhere in this forum only, more precisely in the discussion section. Hence I said AFAIK, not sure. But it seems you are confident that it is not banned at Messi's homeland. So r u from Argentina ?

I've searched both the forum and the news about bitcoin.. nothing:).

https://bitcointalk.org/index.php?topic=631949.0

The argentine central bank is said to be hostile , but there is no actual ban.

“The Central Bank is currently analyzing various scenarios to verify that transactions involving [cryptocurrencies] do not constitute a risk to those aspects which monitoring is expressly stated in its Charter. The so-called “ virtual coins " are not issued by the Central Bank or any  other international monetary authorities therefore have no legal tender and have no support . Also, there are no governmental mechanisms to ensure its official value. Virtual currencies have shown great volatility so far and have experienced substantial price changes. These implications, the risks associated with transactions involving the purchase or use of virtual coins as payment, are borne by users.”
 

http://cointelegraph.com/news/111613/argentinean_central_bank_warns_against_using_bitcoin

[Swordsoffreedom]

I read it somewhere in this forum only, more precisely in the discussion section. Hence I said AFAIK, not sure. But it seems you are confident that it is not banned at Messi's homeland. So r u from Argentina ?

I've searched both the forum and the news about bitcoin.. nothing:).

https://bitcointalk.org/index.php?topic=631949.0

The argentine central bank is said to be hostile , but there is no actual ban.

“The Central Bank is currently analyzing various scenarios to verify that transactions involving [cryptocurrencies] do not constitute a risk to those aspects which monitoring is expressly stated in its Charter. The so-called “ virtual coins " are not issued by the Central Bank or any  other international monetary authorities therefore have no legal tender and have no support . Also, there are no governmental mechanisms to ensure its official value. Virtual currencies have shown great volatility so far and have experienced substantial price changes. These implications, the risks associated with transactions involving the purchase or use of virtual coins as payment, are borne by users.”
 

http://cointelegraph.com/news/111613/argentinean_central_bank_warns_against_using_bitcoin

Clarification point
As per Bitlegal.net the legality of Bitcoin in Argentina is considered friendly although your note seems more recent so did it change?

Inflation has been a significant problem in Argentina for many years, and citizens have long held U.S. dollars as a stable currency. However, in 2011 the country began to clamp down on citizens' ability to obtain foreign currency for savings or international purchases.[1, 2] Under General Ruling 3,210, sales or purchases of foreign currency through licensed foreign exchange entities must be cleared by the Argentine tax authority, which may either validate or deny the transaction. Central Bank Communications “A” 5318 (July 5, 2012) and “A” 5330 (July 26, 2012) forbid individuals from holding foreign currency for savings purposes. Argentinians hold an estimated $160 billion in US currency. In an effort to inject this money into the Argentine economy, the government began issuing certificates, known as Cedines, in return for dollars turned in by individuals as part of a tax amnesty plan.[3] The financial regulations and fluctuations in the Argentine peso have created a vibrant environment of personal bitcoin users who view the digital currency as a safer option than anything provided by the government - this is currently manifesting as a shadow economy.[4] Although there have been no official pronouncements from Argentina’s government, use of bitcoins is a poorly kept secret, so it is fair to call the government “permissive” - for now.

http://bitlegal.net/nation/AR.php

[BitCoinDream]

@niothor u dodged the Q if u r from Argentina... though from your post history, it seems u r from Romania

[niothor]

@niothor u dodged the Q if u r from Argentina... though from your post history, it seems u r from Romania

Oh , sorry about that.
I gave you the reasons why I think it is not banned on Argentina with a central bank response.
I doubt that somebody in Argentina can come down here and say , yeah the central bank says it is not banned but it actually is.

Further more , just going  back to the whole bitcoin banned in china , seems like having a lot of Chinese here as well as a chinese forum didn't help a lot as it took us one week to find a good translation for the PBoC announcer with all the wall observer thread posters asking for one.

Also , you're right on that. I stated a lot of times where I'm from that you can find that easy in my posts.

ps , I really don't like messi . especially after the tonight goal.

[InwardContour]

Argentina has a significant amount of foreign currency reserves, well more then enough to pay the creditors that it owes that did not accept reduced debt in 2001.

[bryant.coleman]

Argentina has a significant amount of foreign currency reserves, well more then enough to pay the creditors that it owes that did not accept reduced debt in 2001.

That's true. But they are not paying the US, because they feel that the Americans indebted them through wrong means.

The Argentine Forex Reserves are not that gigantic either. In February 2014, they amounted for just $28.3 billion.

[MidnightRon]

Imo Cyprus scheme can't be repeated in the Central and South America.

[renee25]

and it's gone... 
http://www.zerohedge.com/news/2014-07-30/argentina-defaults
http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

[Nemo1024]

and it's gone... 
http://www.zerohedge.com/news/2014-07-30/argentina-defaults
http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

Is it just me, or does this come in the wake of Putin's visit to Argentina, where the two countries were seen getting along, so Argentina needed punishing for that?

[fdiini]

Not the 1st time they default on their loan. Creditors should take haircut and take responsible also.

[beetcoin]

and it's gone...  
http://www.zerohedge.com/news/2014-07-30/argentina-defaults
http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

Is it just me, or does this come in the wake of Putin's visit to Argentina, where the two countries were seen getting along, so Argentina needed punishing for that?

no, that's what it seems like. didn't putin pardon argentina's loan too? they knew they weren't getting it back, so it was just a goodwill gesture to send a collective "fuck you" to the states. or maybe that was cuba, the country known for being anti-US.

[bitsmichel]

and it's gone...  
http://www.zerohedge.com/news/2014-07-30/argentina-defaults
http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

Is it just me, or does this come in the wake of Putin's visit to Argentina, where the two countries were seen getting along, so Argentina needed punishing for that?

no, that's what it seems like. didn't putin pardon argentina's loan too? they knew they weren't getting it back, so it was just a goodwill gesture to send a collective "fuck you" to the states. or maybe that was cuba, the country known for being anti-US.

Cuba got pardoned for their loans. I am not sure about Argentina. I'm not sure if cuba is anti-US at present, after all,  the illegal concentration camp guatanamo is there.

[Tusk]

Newfination's Donald McIntyre is from Argentina
https://www.youtube.com/channel/UCWGyG1Z3CgiKnLsRzwTBTOg

He does some cool podcsts on Crypto topics, I think there is already quiet a few followers in Argentina

[boumalo]

and it's gone...  
http://www.zerohedge.com/news/2014-07-30/argentina-defaults
http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

Is it just me, or does this come in the wake of Putin's visit to Argentina, where the two countries were seen getting along, so Argentina needed punishing for that?

no, that's what it seems like. didn't putin pardon argentina's loan too? they knew they weren't getting it back, so it was just a goodwill gesture to send a collective "fuck you" to the states. or maybe that was cuba, the country known for being anti-US.

Cuba got pardoned for their loans. I am not sure about Argentina. I'm not sure if cuba is anti-US at present, after all,  the illegal concentration camp guatanamo is there.

Argentina restructured its debt meaning there has been an haircut for most the debt

More info : http://en.wikipedia.org/wiki/Argentine_debt_restructuring

[AdamSmith]

Italy and Portugal aren't that far behind for the haircut.