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| comment | | "parent_author":"",<br>"parent_permlink":"argentina",<br>"author":"mrshev",<br>"permlink":"argentina-in-crypto-yhzvolhb",<br>"title":"Argentina in Crypto ",<br>"body":"![ (https:\/\/d1vof77qrk4l5q.cloudfront.net\/img\/ef70a8d037492753147f96ab18ba8e64d17bda14.jpg)\n\nCitizens of South America just cannot seem to get a break. \"Never trust the Argentine peso\" is something even the locals tell their younger generations. Argentinean banks are notorious for defaulting on debts and this has also led to local startups having trouble prospecting for overseas investment capital.\n\n\nJust last September 2018 inflation in Argentina hi a high of 40%! And inflation is this beautiful country has been rising since,<br> to a whopping 55% till date. Imagine your purchasing power as you enter the local grocery store. How would you even have the chance to take a holiday in another continent without worrying about living expenses in your own country?\u00a0\n\n\n![ (https:\/\/d1vof77qrk4l5q.cloudfront.net\/img\/9e70aa2fc2e0d0413bf9a1d25e0554c777ea2640.png)\n\n\n\nNaturally,<br> many better-informed citizens and local companies have turned to...*surprise surprise*... Bitcoin. Many regard Bitcoin as *'inflation-resistant'* in an environment where of ever increasing inflation.\u00a0\n\n\n>They are advocating,<br> even to the government,<br> greater integration of the cryptocurrency into Argentina\u2019s economy.\n\n>\n\n>Bitcoin has already become integrated into many business activities. For instance,<br> in 37 cities,<br> public transportation users are indirectly using Bitcoin to pay for their rides,<br> while Bitcoin ATMs are becoming more conspicuous in Buenos Aires.\n\n\nIn December 2018,<br> peer-to-peer exchange [LocalBitcoins (https:\/\/localbitcoins.com\/) recorded a weekly all-time high of 9.4 million pesos. Though the current weekly average volume has tapered down,<br> it still is higher than that during the 2017 crypto boom when the peak was 5.7 million Argentine pesos.\u00a0\n\n>That figure would currently represent a slow week in Argentina\u2019s 2019 P2P market.\n\n\nAs mentioned in many of my previous articles,<br> one Achilles heel of crypto is the volatility,<br> However,<br> the demand and interest from countries like Argentina and their neighboring countries in South America have remained consistently high,<br> as many are woken to the knowledge of the dysfunctional monetary policies of the central banks and seek financial tools and alternatives to preserve whatever earnings in possession.\u00a0\n\n\n![ (https:\/\/d1vof77qrk4l5q.cloudfront.net\/img\/8036f9a117628c4953aed69e51e05fd70e42dc2d.jpg)\n\n\n\nAnother day,<br> another win for adoption of cryptos and blockchain. ***#StayWoke***\n\n\n---\n\n\nSources found here [1 (https:\/\/bitcoinist.com\/argentina-central-bank-inflation-bitcoin\/),<br> [2 (https:\/\/www.coindesk.com\/crypto-startups-in-argentina-inflation-bitcoin),<br> [3 (https:\/\/www.bloomberg.com\/news\/articles\/2019-04-16\/argentina-inflation-surged-to-55-in-march-led-by-food-clothing)\n\nPosted using [Partiko Android (https:\/\/partiko.app\/referral\/mrshev)",<br>"json_metadata":" \"tags\":[\"argentina\",<br>\"inflation\",<br>\"crypto\",<br>\"bitcoin\",<br>\"partiko\" ,<br>\"image\":[\"https:\/\/d1vof77qrk4l5q.cloudfront.net\/img\/ef70a8d037492753147f96ab18ba8e64d17bda14.jpg\" ,<br>\"app\":\"partiko\" " | | comment_options | "author":"mrshev",
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