High demand for bitcoin in Argentina

[SuperCrypto 7193]

Argentina's economic problem increased with the spread of the Corona virus pandemic, while Bitcoin continued to make significant gains in the country. The economic situation in Argentina can be described as “fragile.” After the state failed to make any payments on debt.
Now, according to media, the Central Bank of Argentina has partnered with IOV Labs Bitcoin digital currency to develop a blockchain-based payment network. This development is a sign of things to come as it can be speculated that the increased interest in bitcoin is pushing the highest authorities in Argentina to consider systems based on digital assets, or at least, the blockchain.

I think this will change how many governments look at bitcoin, right?

Edited April 25, 2020 by SuperCrypto

[magd 5231]

Certainly, the governments ’negative view of bitcoin will change and it is likely that Argentina took this step to reduce the spread of infection, but this is wonderful about the price. The rise in demand in the half-term means that the price will rise at the right time. This will solve Argentina’s economic problem and raise the value of cryptocurrencies.

[Yunusalemu 0]

wow so far i have being reading lots of different articles all about the different countries scattered around the globe accepting and adopting the bitcoin and the block chain technology, this is the very first time i am seeing a South America country involving in crypto

[Yunusalemu 0]

2 minutes ago, UT2001 said:

Sounds like a similar situation as is on going in another country in South America and that is Venezuela where its residents also have lost faith in the national currency and are reverting to crypto where ever possible.

Wow but i have this thinking that aquiring the bitcoin would rathere be more expensive for them, definitely, especially withe the limitations of number of bitcoin available for cyculation and all the demand nd suply phenomenal globally. this wouldn't be easy. 

[guatazoo 7150]

I also noticed this before, there must be having demands on bitcoin during this pandemic, so this demands of bitcoin will lead to the bitcoin price to be increased more.

[SuperCrypto 7193]

2 hours ago, Peter Urban said:

I think, that in Argentina they have huge inflation so they should buy Gold, crypto or some foregin currency as USD. I will use crypto, cause no one will look at some seed paper, but police can easily find some gold or dollars, cause they know how it is looking.

Yes, that's right. The Argentine population threw a very large amount of the local peso in exchange for buying cryptocurrency Bitcoin, as the ratio has increased by a large percentage this year.

[jacker 1095]

I think Argentina is on the right track. The economic problem in Argentina will be improved or solved, countries will accept and be more active with cryptocurrencies, it will be known and used by many people, this is supply and demand, value for money. so that soar.

[SuperCrypto 7193]

2 hours ago, Ganhanmarin said:

Not only blockchain, it I noticed that crypto has been accepted in many countries of South America and Argentina is part of them, although, they place strict regulations on this cryptocurrencies, but I think they are a bit more friendly to it with this. 

Yes, that's right. The good mouth is that Bitcoin has become a huge storehouse and is recognized as a suitable asset by large corporations in America which makes it an effective way and enables it to target consumers to the crypto market.

[BTC Future 3946]

I'm studying the case of Argentina for many years, and it seems that the IMF is always trying just to trap them into selling off their domestic corporations into multinationals that have too much power. IMF is just a puppet and tries to take control the Argentina wealth. Although Bitcoin has been in high interest of the argentina people and they were always buying before major events. They've bought a lot in 2016 as well.

[DavCrypto 298]

This is wonderful talk, certainly this is a sign of many things to come, it is the biggest evidence that governments are beginning to consider cryptocurrencies as a source of support for their country's economy, this will be a great support for cryptocurrencies.

[Yunusalemu 0]

2 hours ago, BTC Future said:

I'm studying the case of Argentina for many years, and it seems that the IMF is always trying just to trap them into selling off their domestic corporations into multinationals that have too much power. IMF is just a puppet and tries to take control the Argentina wealth. Although Bitcoin has been in high interest of the argentina people and they were always buying before major events. They've bought a lot in 2016 as well.

well this is posibly One of the reasonS thier economy is getting huge and more revamped boost on the rise, it happens to be a country closing in quickly in joining the top lists of world's developed nations, in a short time

[Zaino34 0]

This is good news. I think that many countries, not only Argentina, sought this step because it reduces the spread of paper currencies and thus reduces the spread of virus. This will force governments to reduce the fight against cryptocurrencies.

[SuperCrypto 7193]

18 hours ago, Strangernew1 said:

Yes this coronavirus pandemic has changed situation in many countries even have made worse in many countries. Government should look out for bitcoin as this can help the economy. 

What central banks are currently doing to counter the epidemic is printing more money which leads to inflation and this is not happening in Bitcoin. According to the well-known economic principle of supply and demand when demand rises and systematic supply decreases, bitcoin should rise over time.

[kadayakito 765]

I believe that governments in many countries will change their perception of bitcoin and will accept it. For Argentina, high demand for bitcoin is good, which boosts supply and demand. Bitcoin and cryptocurrency are certainly good and useful for users in Argentina. Not far future bitcoin is fully accepted in the world.

[Maroua 1159]

I posted in a previous post in which I said that the cryptocurrency would know prosperity at a difficult time like this, I was a little mistaken because the bitcoin price went down a lot due to the Corona virus.

[SuperCrypto 7193]

On 4/28/2020 at 12:44 PM, kadayakito said:

I believe that governments in many countries will change their perception of bitcoin and will accept it. For Argentina, high demand for bitcoin is good, which boosts supply and demand. Bitcoin and cryptocurrency are certainly good and useful for users in Argentina. Not far future bitcoin is fully accepted in the world.

Sometimes some of the problems in the country are useful for achieving development and thinking of solving problems in an effective way. Therefore, we note that the demand for bitcoin has risen strongly in Argentina in conjunction with the specter of the country defaulting on its debts.

[Honny143 13612]

Argentine takes good step in this pendamic situation because its help to improve their peoples income source, I think all countries take this steps, because paper currency is not good in corona virus huge peoples use crypto to transaction and stop this spread of corona.

[SuperCrypto 7193]

On 5/2/2020 at 1:24 AM, Sezar55 said:

I think it is a good step that Argentina made at the health level and at the level of the currency month and accept it from some governments. I think that this great demand will raise the value of bitcoin a lot in this half

It is currently difficult for citizens to enter a money transfer institution but anyone can send and receive cryptocurrency in minutes and this has sparked more interest in cryptocurrencies in many countries.

[Upright 2688]

When looking at what some south American countries now are on, we see this of the Venezuela country have really entered the system and race of Cryptocurrencies. As  when talking of Argentina I think they can actually get really dip into the Cryptocurrencies environment as it might boost the economy

[Raqeebzy 6456]

Not only in Argentina but the whole of South America because of their fragile economy. Even I read reports Venenezuela has the highest volume of bitcoin transactions. They had taken this steps to avert the economic crisis, definitely more countries might follow this as the pandemic is far from gone.

 

[jamesvince 2389]

Argentina is not the only country where the demand of bitcoin is increasing during the corona virus pandemic. We know all world are facing lock down and stay home situation that is why investors increases on each country of the world.

[Brand1 1336]

This is the thing that happened to make Argentina trust the cryptocurrency and it will change its concept in a direction because it provided a lot of help to it in the difficult time. Frankly, cryptocurrencies provided a great help to many countries during the period of the spread of the Corona virus, and I heard that Argentina started testing a system that relies on bitcoin and on blockchain technology and I hope that Be successful

[Saj555 2250]

Great news but also feel sorry for the people. Because  the people there in Argentina will now realise the importance of cryptocurrencies. The government will realize that involving and investments in bitcoins or other cryptocurrencies are always profitable. This can change the economic status of a country too. Maybe in future when the situation will be good they will continue their work and trade with the crypto world fluently. 

[iloveyobit 6599]

I think people, once you know that this field is about it will contain huge money and they can make a lot of money from it they will invest in it and the field will develop of course.

[annayks 2314]

Argentina economy has been in trouble for decades. The debt problem and very high inflation makes the people living in this country hold other currencies and Bitcoin is always one of their favorite asset to buy and hold. It has helped the people of Argentina that found it early since 2012 and saved them from losing money due to higher inflation.