Crypto Is Tumbling, but in Argentina It’s Still a Safer Bet

[carride]

Crypto Is Tumbling, but in Argentina It’s Still a Safer Bet

 

[Ries]

Makes no sense to me. Etherium an d bitcoin both lost half their value this year.

 

[carride]

That is what the article mentions. Still the ones interviewed believe those crypto currencies will rise more than other places where they can invest or park their peso

 

[Ries]

So let me get this straight. 50% of your pesos are lost to inflation. Then you buy a bitcoin with the remaining half, and voila! You now have 1/4 of what you started with.
And, thats assuming that you sell after ONE e-coin crash. Some years, you get two or three.
Supposedly, since spring, One Trillion Dollars of "value" in e-coins has simply vanished, vaporized, evaporated.
I suggest you would do much better investing in Salami's from Tandil.

 

[carride]

This NYTimes article is describing the reality for the population who have lost confidence in the peso, and who have been limited from saving in dollars as past generations have done. It's not meant to spark a discussion about cryptocurrency.

"About one-third of Argentines said they bought or sold cryptocurrencies at least once a month, double the percentage of people in the United States, according to a separate survey by Morning Consult."

 

[jblaze5779]

The good thing about stable coins is that it allows access to something other than pesos for less than the value of 100usd. In the past most people were forced to deal in ars because they could not afford to buy 100usd and still live their lives. This is except for the rich/politicos who had access to options and ways to try and protect their wealth.

The rules of the game have changed for Argentina. Now options are not just for the wealthy.

Stable coins might not be a certainty but what is certain is that the peso is a losing game. Which would you rather have?

 

[Traveler]

A friend of mine's son, age 23, thought he'd retire early and started buying crypto in small amounts; started around $19,000 (he only invested a fraction of that) and as it rose to $45,000 drew other family and friends in. Need I tell you what happened? Poof.

 

[carride]

The translated version https://www.nytimes.com/es/2022/08/20/espanol/argentina-bitcoin-criptomonedas.html