Nostr Web Client

Argentina legalised Bitcoin for payments, contracts, etc.

But not just Bitcoin - they legalised currency competition- Recognising what was already a reality. In Argentina today almost all large transactions were carried out in USD. The new president Javier Milei has been clear about his plans to dollarise the economy, end the Peso and shut down the central bank.

However by legalising currency competition and ending the enforcement and persecution of currency exchangers... he is actually opening the door to Bitcoin as an alternative to the Peso and also to the Dollar. This is very relevant because, while USD use is widespread on the street and for larger trades, online USD payments were difficult and will probably continue to be so for a while, even more so international payments. But argentinians can download a Bitcoin LN wallet and get zapped on Nostr in minutes.

Many will, as it remains the best online option for them.

By the time the USD starts being as inflationary as the ARS:

1. Argentinians will be free to choose currency

2. They will already be familiar with Bitcoin from online payments

Today they will migrate from ARS to USD in mass. In a few years they will do the same from USD to BTC.

All that the government needs to do is not stand in the way!

Reply to this note

Please Login to reply.

Discussion

Igno⚡ 2y ago

Los organizadores de estudios Bitcoin en argentina deberían incorporar #Nostr a la dinámica de aprendizaje esto haría la adopción sea exponencial.

#Nostr #Hispano #Venezuela #España #Argentina #ElSalvador

nostr:nevent1qqs2u72gfg5f65klc234dcpq2t698a3rygnv72g842f4dmwd94gladcpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgq3qvxz5ja46rffch8076xcalx6zu4mqy7gwjd2vtxy3heanwy7mvd7qxpqqqqqqzhqpydt

Fabian Ommar 2y ago

Argentina is out of USD. But Argentinians aren’t, the long, hard and painful lesson learned from decades of recurring crises taught them. USD is still the favored protection and will remain so because it’s high liquidity. BTC sham remain a niche for some time, but eventually it will catch on o believe.

Hu₿ertus the Austrian 2y ago

Prediction:

Yes, Argentina could adopt #Bitcoin. But sadly, it won't. Just like El Salvador did not. Just like Lebanon did not. Just like Greece did not.

That's a hard prediction. Just a verifiable future fact.

Until we fix the monetary elasticity of Bitcoin ir will prevent adoption in the real economy, the use of bitcoin in the supply and production chains.

Marco 2y ago

lebanon didn't adopt Bitcoin simply because it takes time, gov won't accept new currency and people do not understand why they need BTC ,yet.

Hu₿ertus the Austrian 2y ago

All these all good reasons. Depending on the one you believe, your actions will be different.

Example:

If reason: "Takes time"

Then: "Do nothing, wait"

I think the key reason is the lack of a credit money layer for Bitcoin, its inelasticity and volatility.

Action: "Build Bitcredit Protocol"