Bitcoins in Argentina

Volatility of bitcoin is only exceeded by volatility of currencies like the pesos in Argentina.

As a currency, bitcoin is an unmitigated failure, it is extremely volatile, and you will be hard fetched to to be able to spend it.

Volatility though is relative. Some currencies are even more unstable than bitcoin.

Where bitcoin comes into its own, is as a quick and dirty means of transferring money across borders.

Most of this film is nonsense. Would anyone go with a stranger to their apartment, especially if carrying money?

Why did they not do this transaction in Starbucks? Do they not have wifi? Unless of course they were engaging in an illegal currency deal, which may well have been the case.

And why even meet in Starbucks,  a US company that serves disgusting coffee and drains money out of the local economy? Do they not have decent indie coffee shops in Argentina?

It is also a biassed portrayal of Argentina.

During the last crisis, when the people forced out the President, caused the government to collapse, and the owners fled their factories, taking what they could liquidate overseas, the workers scaled the fences and gates and took over the factories and ran them successfully.

To describe bitcoin as democratic is laughable. The early adapters were able to mint millions. Now a prerogative of the rich, as only the rich can afford the computing power to generate bitcoins.

Faircoin, which attempts to address some of the problems associated with bitcoin, may be democratic, or at least tries to be, it is used to finance community projects, bitcoin is not.


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