Argentina Defaults 2nd time in 13 years!

[windjc]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

[Dragonkiller]

Nothing. Or we might go down a bit.

Macro news does not influence BTC price yet. The people that think the April 2013 bubble was due to Cyprus are deluded.

[windjc]

Nothing. Or we might go down a bit.

Macro news does not influence BTC price yet. The people that think the April 2013 bubble was due to Cyprus are deluded.

Yeah. I agree. Im just bored. 

[Leina]

Did price controlled and exchange controlled kick in yet?

[Wolf Rainer]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

Big news? For bitcoin, not for my country... The rich people here buy bitcoins to save they money from the devaluation and the constant price raising of products.

[Wexlike]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

Big news? For bitcoin, not for my country... The rich people here buy bitcoins to save they money from the devaluation and the constant price raising of products.

Do you live in argentina? Are there exchanges where you can buy bitcoins with pesos? If yes, is the price rising equivalent to the pesos loss of value against the us dollar? I have read about a 15% inflation per year in argentina.

[Wolf Rainer]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

Big news? For bitcoin, not for my country... The rich people here buy bitcoins to save they money from the devaluation and the constant price raising of products.

Do you live in argentina? Are there exchanges where you can buy bitcoins with pesos? If yes, is the price rising equivalent to the pesos loss of value against the us dollar? I have read about a 15% inflation per year in argentina.

Yes, the price it´s rising the equivalent to the pesos loss of value against the us dollar. Also, the inflation per year it´s not 15%, it above 30%.

[Bios Optimus]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

Big news? For bitcoin, not for my country... The rich people here buy bitcoins to save they money from the devaluation and the constant price raising of products.

Do you live in argentina? Are there exchanges where you can buy bitcoins with pesos? If yes, is the price rising equivalent to the pesos loss of value against the us dollar? I have read about a 15% inflation per year in argentina.

Yes, the price it´s rising the equivalent to the pesos loss of value against the us dollar. Also, the inflation per year it´s not 15%, it above 30%.

Sorry Wolf for you and your people. I hope and pray that things won't be as bad as expected

[InwardContour]

I don't think that the price will be influenced by the news of Argentina default,
maybe it can rise a little but if there aren't big whales playing the market, it won't move.

[Ibian]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

Big news? For bitcoin, not for my country... The rich people here buy bitcoins to save they money from the devaluation and the constant price raising of products.

Do you live in argentina? Are there exchanges where you can buy bitcoins with pesos? If yes, is the price rising equivalent to the pesos loss of value against the us dollar? I have read about a 15% inflation per year in argentina.

Yes, the price it´s rising the equivalent to the pesos loss of value against the us dollar. Also, the inflation per year it´s not 15%, it above 30%.

Sorry about your country, but excellent news that the price keeps pace with inflation. Theory suggests it would, but good to see it confirmed in practice.

[yayayo]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

No it's not. The economy of Argentina is too small to have an impact. People there rely primarily on the dollar to protect them against the ongoing devaluation of the peso.

I think they have a healthy bitcoin community, but it's only a tiny fraction of the population. Also, I don't know of any notable bitcoin exchange operating in Argentina.

ya.ya.yo!

[DjPxH]

Bitcoin will be the first thing the government is going to fight if it actually makes some impact there. People trying to get money out of the country and buy foreign currencies is already something that's highly regulated there. Just adopt Bitcoin as a nation's currency

[Wolf Rainer]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

No it's not. The economy of Argentina is too small to have an impact. People there rely primarily on the dollar to protect them against the ongoing devaluation of the peso.

I think they have a healthy bitcoin community, but it's only a tiny fraction of the population. Also, I don't know of any notable bitcoin exchange operating in Argentina.

ya.ya.yo!

Argentina economy it´s too small to have an impact? Argentina it´s on the top 20 most oil production countries. It produce the 15% of the world soya production. It have the third biggest lithium resources. And 8% of all grain in the world are produced in Argentina. Etc, etc.

[DjPxH]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

No it's not. The economy of Argentina is too small to have an impact. People there rely primarily on the dollar to protect them against the ongoing devaluation of the peso.

I think they have a healthy bitcoin community, but it's only a tiny fraction of the population. Also, I don't know of any notable bitcoin exchange operating in Argentina.

ya.ya.yo!

Argentina economy it´s too small to have an impact? Argentina it´s on the top 20 most oil production countries. It produce the 15% of the world soya production. It have the third biggest lithium resources. And 8% of all grain in the world are produced in Argentina. Etc, etc.

It would at least be a major political and psychological sign if they really adopted Bitcoin in a large manner. This would make Dell seem like pennies!

[atoni]

The impact will probably be that Argentinians will have less money to buy bitcoin in the future.

[yayayo]

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

No it's not. The economy of Argentina is too small to have an impact. People there rely primarily on the dollar to protect them against the ongoing devaluation of the peso.

I think they have a healthy bitcoin community, but it's only a tiny fraction of the population. Also, I don't know of any notable bitcoin exchange operating in Argentina.

ya.ya.yo!

Argentina economy it´s too small to have an impact? Argentina it´s on the top 20 most oil production countries. It produce the 15% of the world soya production. It have the third biggest lithium resources. And 8% of all grain in the world are produced in Argentina. Etc, etc.

I did not say that Argentina's economy is small in a general sense. But it is too small for the default to have severe global consequences, because it is not highly interconnected or within a bigger common currency zone like countries in the EU for example. You also have to take in consideration that the default might damage but will not extinguish the whole economy, since it does not come without warning.

ya.ya.yo!

[Wandererfromthenorth]

Nothing. Or we might go down a bit.

Macro news does not influence BTC price yet. The people that think the April 2013 bubble was due to Cyprus are deluded.

I think there are misconceptions around that idea of the influence of news of that magnitude on the BTC price.
I think news like Cyprus are more like a self-fulfilling prophecy to the price of bitcoin, not really people in Cyprus buying more bitcoin.

I think you should see that kind of news more as an "excuse" for anticipating panic buys (which then creates a cascade that has as an effect a sharp increase in price), rather than a true cause.

[Elwar]

So, if given the choice would you keep your money in the Argentina Peso or bitcoins?

[OnkelPaul]

So, if given the choice would you keep your money in the Argentina Peso or bitcoins?

The question is probably not what currency you want to keep your money in, but whether you want to have it in a bank account that could be locked or subjected to a haircut.
Except for the inflation, pesos are probably as good as any money for buying stuff locally (if you happen to live in Argentina). For international business, wealthy people and businesses probably use US Dollars anyway. The problem is that even USD held by Argentinians might be taken away from them to repay (part of) the countries' debt if the bank accounts are accessible to the lenders. With bitcoin, that's not so easy...

Onkel Paul

[BitcoinMillionaire]

Wow, geez that's a sad thing to hear! Imagine you live there! I know, we're all into Bitcoin. But the regular public still doesn't know that much about it! I really feel sorry for all the people over there.