Argentina is a record cryptocurrency adopter
Argentina is a record cryptocurrency adopter
The country is trending in cryptocurrency savings as residents look to find ways to protect sayings and face inflation. The risks and how you can protect against them.
When crypto is more stable than your national currency, your government has a .... problem?
There isn't a government run currency on the planet that has come anywhere remotely close to performing as good as bitcoin in the last decade. Give me something that goes up in value over something that only "slowly" falls in value like the EU or USD.
The problem is that if I have bitcoin, I can't fucking spending it as currency, now can I? I'll hate myself tomorrow when it's gone up 2x.
So if everyone has bitcoin, everyone HODLs, no currency changes hands and the economy just dies because nobody buys or sells anything.
The minor inflation in EUR or USD accomplishes the exact opposite: Money keeps changing hands. The rich, obviously, want to keep everything they have. But oh look, if you just hoard it, it keeps slowly losing value over time! Now these rich assholes (along with anyone else who has significant savings) have to invest their money if they want it to keep value or even appreciate in value - and when it's invested, that means someone else can actually do something with the money.
A small amount of inflation is good actually.
Currencies going up in value tends to not be great for an economy, as people will save instead of spend. It stops being a currency and becomes somewhat of an asset. A slowly depreciating currency tends to foster the most economic growth.
Argentina is swirling down the toilet, so I wouldn't be bragging about that.