Is Argentina the cyprus of 2014?

[cuddaloreappu]

everything follows a similar pattern

there is a bear trap and argentina defaults...


Do you believe this is a Cyprus moment

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[tmbp]

If Cristina had any balls she could play the whole situation to her favor by robbing the U.S. blind, the U.S. did it hundreds of times.

[thms]

Actually it's different

Argentina has the money to pay but the payment is blocked by a court order.

Argentina has the money to pay as per the conditions that were agreed upon with 90% of its creditors.

The other 10% now are demanding that Argentina pay according to different rules.

If Argentina accept these new rules, the other 90% could also ask for the same rules, so that's what's causing the problem.

[tabnloz]

Actually it's different

Argentina has the money to pay but the payment is blocked by a court order.

Argentina has the money to pay as per the conditions that were agreed upon with 90% of its creditors.

The other 10% now are demanding that Argentina pay according to different rules.

If Argentina accept these new rules, the other 90% could also ask for the same rules, so that's what's causing the problem.

To expand on that, the problem is that the people demanding to be paid are "vultures" who bought up outstanding debts for cents on the dollar (ie after the previous default) and now want to be paid out in full on the debt they bought. They go to court to force the country into paying using the threat of, in this case, default.

[Sindelar1938]

Let's hope it is
Could do wonders for btc given that we are talking about a 40mn population and a significantly larger economy than Cyprus

[OROBTC]

...

@ Sindelar1938

I believe that BTC will do VERY WELL in Argentina, it already carries a huge premium vs. its US price (source: a BTC guy I know who go there a lot, their technorati are very interested in Bitcoin, and its use is growing rapidly).

[Cicero2.0]

There are a lot of potential Cyprus situations out there. We just need a spark.

[twiifm]

Wishing the demise of a country in crisis so your investment makes money.  That's class

[Ron~Popeil]

Wishing the demise of a country in crisis so your investment makes money.  That's class

I don't think anyone is hoping for the demise of anyone person or country. The hope is that the Argentinian people adopt an alternative currency and take control away from a bad government.

[justusranvier]

http://www.youtube.com/watch?v=yc6Hp_Zq3rU

[2dogs]

Someone should put this as a bet on betmoose.com

[TaunSew]

Suggesting Argentina is a Cyprus is a bit of a fallacy.  Cyprus was a offshore bank account and the solution to that theft, among many, was a Bitcoin wallet.  Argentina is just.. Argentina..

If a meltdown occurred in Argentina who will trade their Bitcoin for worthless Pesos?   Even now as we speak, or so I've read, they already pay way above market prices for BTC as there's few suppliers willing to exchange their BTC for Pesos.

Ironically it's the reverse - all the large growth in Bitcoin seems to be opposite where it's people in developing countries looking to acquire $USD.  A lot of Chinese raced to buy Bitcoin, for instance, as a means to get around exchange laws.

[mkc]

Argentina has no surprise factor, everybody if not expect it, know it will happen ...

[mrcashking]

Argentina has no surprise factor, everybody if not expect it, know it will happen ...

I agree

[cuddaloreappu]

Wishing the demise of a country in crisis so your investment makes money.  That's class

fire is a killer, but sometimes what is left behind can grow much better than the generations before...

let the whole rigged system of debt and inflation collapse, and a new system of freedom based on crypto emerge....

[tinof]

Is it still safe for foreigner to travel there?

[pandacoin]

Argentina, Brazil or Turkey could be the reason of next Bitcoin price jump. Developing countries economics are so bad people try to change their governments. There are huge bans on almost everything in Turkey. People have to use Bitcoin for their financial freedom.

[bitpop]

Neo Argentina

[murraypaul]

Actually it's different

Argentina has the money to pay but the payment is blocked by a court order.

Argentina has the money to pay as per the conditions that were agreed upon with 90% of its creditors.

The other 10% now are demanding that Argentina pay according to different rules.

If Argentina accept these new rules, the other 90% could also ask for the same rules, so that's what's causing the problem.

The 'different' rules being the ones that Argentina agreed to when it first sold the bonds.
The 10% want what they were promised.

[TaunSew]

Argentina, Brazil or Turkey could be the reason of next Bitcoin price jump. Developing countries economics are so bad people try to change their governments. There are huge bans on almost everything in Turkey. People have to use Bitcoin for their financial freedom.

I don't know about Argentina and even less about the prospects in Brazil.

I think Turkey, now you mentioned it, could be a real contender.  Turkey is very well integrated in the international tourism market, has a remittance population in Germany which sends money home and then there are those rules you mentioned.  It was the exchange rules that convinced some Chinese to go big into Bitcoin.

I'm rather excited that now there is supposedly 4000 bank terminals in Ukraine which accept Bitcoin but the problem is I don't want to vacation in a country and have my hotel or hostel get blown up by a ballistic missile.