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.
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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.
Which proves that Bitcoin isn't really currency, it's an investment opportunity.
You can trade stocks and bonds as "currency" too.
Believe it or not, it can be and is used as both. If you have any other questions or things you think won't work, just ask! A lot has happened in the last 5 years, and most issues people have with Bitcoin have been long ago solved. It is incredible how much different things are now, lots of old issues(like dealing with 0.0000015 issues) are no longer a problem.
How is that no longer a problem? Have most humans somehow easily learned calculate numbers to that many decimal places in the last five years? Because I still find it difficult.
Also, Bitcoin is way, way too volatile to be used as a currency in any stable economy. A can of Coke could cost twice next week as it did this week.
The people who use bitcoin think in Satoshi now. There are many wallets and exchanges that allow you to denominated in sotishis. mBTC is another common denomination that people use and think in.
It is true that bitcoin is starting out volatile, but it is still so early when you consider how long major currencies usually last. Things should settle down more and more as it becomes a larger and larger percentage of the economy. I bet gold probably started out pretty volatile, considering some people knew to value it and others didn't.
"We have two completely different terms that mean two completely different things to break up our confusing money into smaller pieces" is not the sales point you think it is.
Also- LOL!
I bet gold probably started out pretty volatile, considering some people knew to value it and others didn’t.
How much would you like to bet? I'll take some of those bitcoins off your hand. First, though, you'll have to explain how to calculate volatility in a barter system that predates things like written language. Gold was bartered in the paleolithic, just like flint and antlers, and money didn't exist until tens of thousands of years later.
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.