Argentina Defaults 2nd time in 13 years!

[4mherewego]

Let's assume that Argentina today says "Fuckit it! We suck at doing fiat, lets just adopt Bitcoin" and lets all pesos become worthless and force all stores to accept Bitcoin. What do you think that the price would be tomorrow?

[HashFarmer]

Let's assume that Argentina today says "Fuckit it! We suck at doing fiat, lets just adopt Bitcoin" and lets all pesos become worthless and force all stores to accept Bitcoin. What do you think that the price would be tomorrow?

Stop dreaming, but the price would be at $10,000 if that happens..

[NotLambchop]

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

I don't think anyone is given that choice.  Unless there are exchanges selling bitcoin for Argentine peso.  If so, links?

[Mobius]

It could have come out worse.

The government of Argentina could have continued spending other peoples money without
intent to pay back, for years.

That is what they have a history of doing. They have now defaulted on their debt 3 times in this generation's lifetime. Yet this have the ability to repay their debts as they have large amounts of foreign currency reserves.

[will777]

interesting article

http://www.coindesk.com/argentina-most-likely-adopt-bitcoin/

[BrianM]

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.

that is your opinion

[devphp]

You guys live in a fantasy world. No country will officially adopt crypto currencies as legal tender. Ever. They'd have to shut down all the social programs and fire 90% of the government employees right there if they did that. Which would result in 2/3 of the population with no jobs whatsoever. The only way they can provide some jobs and social safety nets to a lot of people is because they can keep printing fiat. Stop dreaming, get real! Crypto currencies will always be unofficial.

[fdiini]

You guys live in a fantasy world. No country will officially adopt crypto currencies as legal tender. Ever. They'd have to shut down all the social programs and fire 90% of the government employees right there if they did that. Which would result in 2/3 of the population with no jobs whatsoever. The only way they can provide some jobs and social safety nets to a lot of people is because they can keep printing fiat. Stop dreaming, get real! Crypto currencies will always be unofficial.

The statement is only true in US.

Elsewhere, like Japan, Korea and Singapore, most people work in the private sector.

[painlord2k]

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

I don't think anyone is given that choice.  Unless there are exchanges selling bitcoin for Argentine peso.  If so, links?

Given a choice, people in Argentina will want to be paid preferably in Bitcoin.
They do not need to convert their paycheck in bitcoin, just sell good and services in bitcoins and refuse unneeded pesos (at best the will accept some pesos to pay taxes with them).

Foreigners will find favorable prices if they pay in bitcoins or any other half decent foreign currency.

I bet you can rent a lot of ass and pussy in Argentina for bitcoins and get favorable treatment.

[twiifm]

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

I don't think anyone is given that choice.  Unless there are exchanges selling bitcoin for Argentine peso.  If so, links?

Given a choice, people in Argentina will want to be paid preferably in Bitcoin.
They do not need to convert their paycheck in bitcoin, just sell good and services in bitcoins and refuse unneeded pesos (at best the will accept some pesos to pay taxes with them).

Foreigners will find favorable prices if they pay in bitcoins or any other half decent foreign currency.

I bet you can rent a lot of ass and pussy in Argentina for bitcoins and get favorable treatment.

So your solution is prostitution?   

[wachtwoord]

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

I don't think anyone is given that choice.  Unless there are exchanges selling bitcoin for Argentine peso.  If so, links?

Given a choice, people in Argentina will want to be paid preferably in Bitcoin.
They do not need to convert their paycheck in bitcoin, just sell good and services in bitcoins and refuse unneeded pesos (at best the will accept some pesos to pay taxes with them).

Foreigners will find favorable prices if they pay in bitcoins or any other half decent foreign currency.

I bet you can rent a lot of ass and pussy in Argentina for bitcoins and get favorable treatment.

So your solution is prostitution?   

With two bankruptcies in 13 years how can it be worse than their current economic endeavors?

[nextblast]

For btc: no big deal.

[money420weed]

For btc: no big deal.

I think this will be a big deal for BTC. It will likely lead to a greater amount of adoption in argentina and other countries that are struggling to pay their debts (and will likely have their local fiat currency devalued).

[sed]

I doubt this will affect the btc price at all in the short term.  To the guys who say no country will adopt bitcoin, I think they're wrong too, but I think it's going to be some time before anything like that happens.  Also, when it happens it won't be any big countries, but it may indeed happen for small countries that currently use another country's fiat anyway (like Panama).  Once BTC stabilizes in a few years, small countries may indeed just decide to go officially bitcoin.  What I think would be even more interesting is if a small country decided to publish a fiat "backed" by bitcoin the way that us dollars used to be backed by gold bullion.  In this scenario, the fiat of country X would be exchangeable for a fixed amount of BTC.  Once people realize that BTC is as mathematically scarce as gold is physically scarce, they may just decide to do this.

[Connor936]

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

I don't think anyone is given that choice.  Unless there are exchanges selling bitcoin for Argentine peso.  If so, links?

Given a choice, people in Argentina will want to be paid preferably in Bitcoin.
They do not need to convert their paycheck in bitcoin, just sell good and services in bitcoins and refuse unneeded pesos (at best the will accept some pesos to pay taxes with them).

Foreigners will find favorable prices if they pay in bitcoins or any other half decent foreign currency.

I bet you can rent a lot of ass and pussy in Argentina for bitcoins and get favorable treatment.

So your solution is prostitution?   

With two bankruptcies in 13 years how can it be worse than their current economic endeavors?

I still don't think prostitution is the answer to their problems. Even if they were to resort to this, I would doubt it would solve their problems as prostitution does not even bring in a lot of money.

[wachtwoord]

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

I don't think anyone is given that choice.  Unless there are exchanges selling bitcoin for Argentine peso.  If so, links?

Given a choice, people in Argentina will want to be paid preferably in Bitcoin.
They do not need to convert their paycheck in bitcoin, just sell good and services in bitcoins and refuse unneeded pesos (at best the will accept some pesos to pay taxes with them).

Foreigners will find favorable prices if they pay in bitcoins or any other half decent foreign currency.

I bet you can rent a lot of ass and pussy in Argentina for bitcoins and get favorable treatment.

So your solution is prostitution?   

With two bankruptcies in 13 years how can it be worse than their current economic endeavors?

I still don't think prostitution is the answer to their problems. Even if they were to resort to this, I would doubt it would solve their problems as prostitution does not even bring in a lot of money.

Well one thing is for sure: I doubt anyone will want to loan to them in the next decade so it's time for them to think of other sources of income.

[Swordsoffreedom]

So your solution is prostitution?    

I've heard of worse proposals and if the country changed its laws to allow for brothels and well filtered for AIDS and that stuff there would be a large market for it lol...

Just like the Ancient Romans ^_^
http://en.wikipedia.org/wiki/Prostitution_in_ancient_Rome

But we can level that down if Argentina built some host clubs that would be good for their economy and legal consensual stuff lol.
http://en.wikipedia.org/wiki/Host_and_hostess_clubs

As always here is the anime precedent
https://www.youtube.com/watch?v=AyuyJFRVwww

[leopard2]

Argentina today, the world tomorrow.

All debt based paper currencies will return to their internal value, that is zero, sooner or later.

[Hyena]

I bet you can rent a lot of ass and pussy in Argentina for bitcoins and get favorable treatment.

So your solution is prostitution?   

I wouldn't mind, considering...

Rocío Guirao Díaz
Model
Rocío Guirao Díaz is an Argentine fashion model from Muse Management. Wikipedia
Born: June 27, 1984 (age 30), Buenos Aires, Argentina

Someone had to do it...

[deluxeCITY]

I bet you can rent a lot of ass and pussy in Argentina for bitcoins and get favorable treatment.

So your solution is prostitution?   

I wouldn't mind, considering...

Rocío Guirao Díaz
Model
Rocío Guirao Díaz is an Argentine fashion model from Muse Management. Wikipedia
Born: June 27, 1984 (age 30), Buenos Aires, Argentina

Someone had to do it...

NSFW lol

She is very pretty, but I don't think most girls in Argentina would be willing to do this.