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Author Topic: Is Argentina the cyprus of 2014?  (Read 5425 times)
fran2k
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August 12, 2014, 05:02:21 AM
 #81

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy

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Bogleg
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August 12, 2014, 07:00:20 AM
 #82

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy

Good one. Just need to mint something to convince other it is better than bitcoin.

Instant profit.


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August 12, 2014, 10:52:23 AM
 #83

Every country has its way of managing its own crisis in all aspect so i don't think thats possible.
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August 13, 2014, 05:29:21 AM
 #84

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy


I don't think this would be possible. You cannot "mint" cryptos out of thing air. You must first make an investment (buy an ASIC(s)). If you are referring to them creating some kind of altcoin with coins premined then this would also make no sense as it would be unlikely that there would be any kind of demand for this (there is little demand for most alts).
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August 13, 2014, 04:51:26 PM
 #85

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy


I don't think this would be possible. You cannot "mint" cryptos out of thing air. You must first make an investment (buy an ASIC(s)). If you are referring to them creating some kind of altcoin with coins premined then this would also make no sense as it would be unlikely that there would be any kind of demand for this (there is little demand for most alts).

Even if they do come out with altcoins, its credibility would be linked to the Argentinian government. You would probably see hyperinflation in these altcoins too. Wink
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August 14, 2014, 10:28:09 AM
 #86

8,000 Convenience Stores in Argentina Now Sell Bitcoin

http://www.coindesk.com/bitpagos-brings-bitcoin-8000-convenience-stores-ripio/
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August 15, 2014, 02:57:28 AM
 #87

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy


I don't think this would be possible. You cannot "mint" cryptos out of thing air. You must first make an investment (buy an ASIC(s)). If you are referring to them creating some kind of altcoin with coins premined then this would also make no sense as it would be unlikely that there would be any kind of demand for this (there is little demand for most alts).

First, all FIAT money is full premine. Second, this alt could be backed by the stated, and that can make it quite popular.
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August 15, 2014, 03:12:50 AM
 #88

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy


I don't think this would be possible. You cannot "mint" cryptos out of thing air. You must first make an investment (buy an ASIC(s)). If you are referring to them creating some kind of altcoin with coins premined then this would also make no sense as it would be unlikely that there would be any kind of demand for this (there is little demand for most alts).
I think most altcoins see "hyperinflation" in their value, that is see their value tumble as people realize that the alt has no value that bitcoin cannot provide.

Even if they do come out with altcoins, its credibility would be linked to the Argentinian government. You would probably see hyperinflation in these altcoins too. Wink
I think that most altcoins experience hyperinflation as more people realize that they cannot offer any thing of value so people sell the coins. This results in the price of the altcoin more or less crashing.
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August 15, 2014, 07:47:54 AM
 #89

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy


I don't think this would be possible. You cannot "mint" cryptos out of thing air. You must first make an investment (buy an ASIC(s)). If you are referring to them creating some kind of altcoin with coins premined then this would also make no sense as it would be unlikely that there would be any kind of demand for this (there is little demand for most alts).
I think most altcoins see "hyperinflation" in their value, that is see their value tumble as people realize that the alt has no value that bitcoin cannot provide.

Even if they do come out with altcoins, its credibility would be linked to the Argentinian government. You would probably see hyperinflation in these altcoins too. Wink
I think that most altcoins experience hyperinflation as more people realize that they cannot offer any thing of value so people sell the coins. This results in the price of the altcoin more or less crashing.

Altcoins have no value to begin with. This is just the dump phase rather than "hyperinflation".

TETOCONPOLERA
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August 16, 2014, 07:33:25 PM
 #90

As you can see in Coinmap, in Argentina we have a lot of business which accepts bitcoins, 148 vs 154 from the other country in south america together





also we have some e-business like bitpagos, digicoins, http://enbitcoins.com (where you can pay taxes and services with bitcoin), two exchange (unisend and satoshitango)



on the other hand, we are near 40.000.000 inhabitants, so we still have a long road...



we have a new "revolutionary moventent".... LaSatoshi when we do a little publicity, it's a half joke, a half seriuos

 https://www.facebook.com/lasatoshi?fref=ts




zedicus
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August 16, 2014, 07:43:45 PM
 #91

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy


I don't think this would be possible. You cannot "mint" cryptos out of thing air. You must first make an investment (buy an ASIC(s)). If you are referring to them creating some kind of altcoin with coins premined then this would also make no sense as it would be unlikely that there would be any kind of demand for this (there is little demand for most alts).
I think most altcoins see "hyperinflation" in their value, that is see their value tumble as people realize that the alt has no value that bitcoin cannot provide.

Even if they do come out with altcoins, its credibility would be linked to the Argentinian government. You would probably see hyperinflation in these altcoins too. Wink
I think that most altcoins experience hyperinflation as more people realize that they cannot offer any thing of value so people sell the coins. This results in the price of the altcoin more or less crashing.

Altcoins have no value to begin with. This is just the dump phase rather than "hyperinflation".
They get their value from the speculators in the market, instead of from the security of the network (miners) as what happens with bitcoin.
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August 17, 2014, 10:43:19 AM
 #92

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. 
cuddaloreappu
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August 17, 2014, 04:11:47 PM
 #93


Crying for Argentina


https://www.youtube.com/watch?v=ya3Dh1K2qvA
botany
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August 18, 2014, 11:35:26 AM
 #94

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. 

There are a lot of countries which seem to be 'ripe' for discovering bitcoin.
itsAj
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August 21, 2014, 04:13:29 AM
 #95

Argentina could print pesos to buy dollars to pay back their debts. As they sell more pesos, the value of each peso would decrease so the more they print the less dollars they can buy on a per peso basis.

No country has managed to mint its way out of a crisis.

May be they shoud try with cryptocurrencies. Cheesy


I don't think this would be possible. You cannot "mint" cryptos out of thing air. You must first make an investment (buy an ASIC(s)). If you are referring to them creating some kind of altcoin with coins premined then this would also make no sense as it would be unlikely that there would be any kind of demand for this (there is little demand for most alts).

First, all FIAT money is full premine. Second, this alt could be backed by the stated, and that can make it quite popular.
If the national currency is unpopular in a country then why would an atlcoin that is backed by the same country do any better? An altcoin as you describe would have less benefits and more drawbacks then a fiat based currency based by a specific country. The main difference is that an altcoin based currency would be subject to attacks on the network while a fiat based currency would not.
giveBTCpls
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August 23, 2014, 10:21:06 AM
 #96

Cristina Hitchens is a massive delusional spastic that doesn't get you can't defy the status quo without a more solid plan than saying "we are not paying that debt" then expecting things to not get royalty fucked up.

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August 23, 2014, 10:27:47 AM
 #97

Cristina Hitchens is a massive delusional spastic that doesn't get you can't defy the status quo without a more solid plan than saying "we are not paying that debt" then expecting things to not get royalty fucked up.

Just trying to get the vulture investors to back down.
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