Argentina’s central bank hosts a live Bitcoin mining exhibit

[satoshi]

The Central Bank of Argentina (BCRA) has opened a groundbreaking exhibition, marking the first time an international central bank has hosted live crypto-mining equipment as part of an art display.
Titled Art, Artificial Intelligence, and the Future of the Economy, the exhibition showcases Bitcoin mining rigs alongside the iconic “Moneyballs”—spheres crafted from shredded currency—by artist and financier Alberto Echegaray.
The exhibition, which officially opened on October 31 at the BCRA’s Historical Museum, reflects the bank’s evolving stance on digital assets.
Echegaray, a pioneer in digital and crypto art, highlights the importance of exhibiting at a central bank, stating,

“No central bank has ever handled operational mining equipment, and it’s good for both art enthusiasts and those interested in economic and digital systems to see it.”

Echegaray’s work, designed to spark dialogue on currency dematerialization, includes spheres containing both virtual and shredded banknotes.
Among them is his most notable piece, the Moneyball, a 50cm-diameter sphere containing $1 million worth of shredded $100 bills. The US Treasury provided the out-of-circulation dollars, while local discarded pesos were sourced from BCRA’s own refuse.
Echegaray’s installations echo broader trends in tokenization and digital economies, with assets becoming increasingly intangible.
In addition to the mining rigs, Echegaray’s installation features spheres that connect virtual assets to real-time valuation data, encouraging visitors to ponder the changing role of money.
His work also delves into deeper socio-economic questions, critiquing society’s dependence on the dollar and the evolution of economic systems.
He foresees a future where cash becomes obsolete, predicting that in a not so distant future banknotes will only be found in museums.



Spanish language article: https://www.cronista.com/finanzas-m...junto-a-mineras-cripto-en-su-museo-historico/

Museum Web Page: https://www.bcra.gob.ar/Museo360/index.htm

 

[NeoWonk]

Why would the Argentine Central Bank host an exhibit for a technology that is designed to kill central banks. I wonder if this might have been inspired by Milei's meetings with El Salvador's Bukele. I hope to go to this exhibit and ask as to why they would do it.

Bukele seems to be on the verge of becoming independent of the IMF and the other parasitic Western bankers. Argentina is so in debt to the IMF, that I can't see Argentina ever getting free from their grasp. This debt slavery that the IMF has imposed on the Argentine people is such a gross injustice.

 

[Redpossum]

Why would the Argentine Central Bank host an exhibit for a technology that is designed to kill central banks. I wonder if this might have been inspired by Milei's meetings with El Salvador's Bukele. I hope to go to this exhibit and ask as to why they would do it.

Bukele seems to be on the verge of becoming independent of the IMF and the other parasitic Western bankers. Argentina is so in debt to the IMF, that I can't see Argentina ever getting free from their grasp. This debt slavery that the IMF has imposed on the Argentine people is such a gross injustice.


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You can thank Mauricio Macri for that, Nestor and Cristina paid off the IMF and freed Argentina from its grasp entirely, then Macri borrowed 34 Billion USD from the IMF and pissed it all away in vain, with no result but massive capital flight. It has been pointed out that the IMF flagrantly broke two of its own rules in loaning so much to Argentina. First, they violated the rules by loaning such a large percentage of its total to one country, and second they violated the rule that money may not be loaned where it results in capital flight.

 

[FrankPintor]

You can thank Mauricio Macri for that, Nestor and Cristina paid off the IMF and freed Argentina from its grasp entirely, then Macri borrowed 34 Billion USD from the IMF and pissed it all away in vain, with no result but massive capital flight. It has been pointed out that the IMF flagrantly broke two of its own rules in loaning so much to Argentina. First, they violated the rules by loaning such a large percentage of its total to one country, and second they violated the rule that money may not be loaned where it results in capital flight.

And who negotiated the deal with the IMF? None other than Federico Sturzenegger ("deregulation minister"), Luis Caputo (member of the "iron triangle") and a Guido Sandleris (not sure what he's doing now).

A quote from Wikipedia: "In 2020, Mauricio Claver, who was a senior member of President Donald Trump's team, revealed that the loan was granted for political reasons and despite opposition from European governments, due to pressure from the United States, with the aim of supporting the Macri government and preventing it from losing the 2019 elections. In 2021, President Alberto Fernández informed the National Congress that he had ordered criminal proceedings to be initiated for being 'the largest fraudulent administration and embezzlement of public funds in history.'"

The criminal proceedings are known as IMFGate, I haven't heard much about them recently.

If, and it's by no means certain yet, Sturznegger and Caputo manage to recover Argentina's economy, they will have done nothing more than clean up their own monstruous mess.

 

[Ronnie Hotdogs]

Argentina’s debt to GDP ratio is less than both UK and USA?

 

[elhombresinnombre]

Argentina’s debt to GDP ratio is less than both UK and USA?

Yup! According to World Population Review Argentina's ratio is a mere 85% to the USA 129 and UK 97.

I suspect this is all about confidence. Everyone panics because Venezuela has a ratio of 241% but nobody worries about Japan at 264%! They trust Japan to manage 264 but don't have faith in Argentina at 85.

 

[JoeBoston]

Argentina’s debt to GDP ratio is less than both UK and USA?

Yup! According to World Population Review Argentina's ratio is a mere 85% to the USA 129 and UK 97.

I suspect this is all about confidence. Everyone panics because Venezuela has a ratio of 241% but nobody worries about Japan at 264%! They trust Japan to manage 264 but don't have faith in Argentina at 85.

There is one very important difference. Those countries borrow in their own currency.

For example, if the US prints more dollars their debt get less expensive, if Argentina prints more pesos their dollar debt gets more expensive