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    Author Topic: Argentina is not going Bitcoin  (Read 4100 times)
    cr1776
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    September 18, 2013, 08:45:58 PM
     #41

    Exactly right.  :-)

    It is the classic case of devaluing a currency to the extreme.  One cannot devalue one's way to prosperity, only to misery.  The smart people (which seems like almost everyone in Argentina) are trading paper that becomes worth less every day for hard assets.


    There is still a government crackdown on leaking any money out of the country.

    what about physically carrying cash over the border. not smuggling or anything just staying within the legal limits. people who lived near the boarders could make a daily trip to carry what ever was within the legal amount physically in their wallets across the border. they could then buy bitcoins and bring the bitcoins back across. of course they would arbitrage for their effort.

    The problem is getting rid of pesos. People have pesos and pesos worth nothing outside Argentina.  Look at the paradox: the Argentina Central Bank does not buy them at any price. 



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