How to use Bitcoin to exchange Pesos at the Blue Dollar Rate

[jacobhansen]

I come across this post which explains how you can exchange bitcoins in Argentina at the blue dollar rate. Might be worth a read.
http://thebluemarket...s-in-argentina/

"if you are an expat or just travelling through I encourage you to explore bitcoin as an alternative to finance your stay. Not only will you get a 25% higher exchange rate but you will also help locals protect their savings from being hollowed by inflation."

 

[scotttswan]

Bitcoins are hilarious. Its like a cargo cult economy where bitcoin fanatics invest their bitcoins with scammers who run off with all their bitcoins only for them to return with a new forum name and scam them again!
Its ponzis built upon ponzis. A few months ago a guy called "pirateat40" defaulted on the biggest ponzi, then one after the other all the other ponzi's defaulted as most were just "pass through" ponzis to pirate's!

The biggest exchange is called MtGox.... or as it used to be called magic the gathering online exchange! but they're all about bitcoins now so don't worry putting your hard earned money into them.

Its very unstable and its not a good idea to keep them for any length of time. (unless your are true belier of bitcoins and they can only go up up up!)

Bitcoins are pretty useless too, you can only buy drugs with them online (although the people who are selling you the drugs can and have disappeared with everyone's bitcoins like all the ponzi schemes do.) or exchange them for actual money but watch out for them suddenly dropping in price if someone decides to try and sell a decent amount of them!

some bitcoin comedy from http://buttcoin.org/

 

[sleslie23]

Ha ha, bitcoins. People are still playing with those?

I guess Argentine Pesos aren't the worst thing in the world.

 

[PhilinBSAS]

Yep it doesnt work so dont go near

The bursting of the Bitcoin bubble

The Economist Oct 21st 2011, 12:47 by C.F. | BONN http://www.economist...tual-currencies

ITCOIN, briefly the world's favorite cryptocurrency, is in trouble. It plummeted from a peak of around $33 per unit in June to just $2.51. In May Rick Falkvinge, the founder of the Pirate Party in Sweden, famously blogged that he was converting all of his Swedish-crown savings to Bitcoins. Five months on, he tweeted that after “hoarding” Bitcoins until they hit $18 or so, he had moved to a “buy-and-sell pattern”. Mostly sell, it seems. “I currently don't hold any,” he admitted.

...................

 

[MikeB12]

This didn't age well...

 

[Churchill]

Since 2011 it has risen over 100,000% to stand today at 2,600 per unit against the USD. Wow. So if I had invested 1000 USD back then I would now be a millionaire. Wow.

 

[bdk1]

Since 2011 it has risen over 100,000% to stand today at 2,600 per unit against the USD. Wow. So if I had invested 1000 USD back then I would now be a millionaire. Wow.

You don't even have to go that far. If you had invested $25,000 on Ether in January 2017 and sold 5 months later in June, you'd also be sitting on $1M.

 

[camel]

You don't even have to go that far. If you had invested $25,000 on Ether in January 2017 and sold 5 months later in June, you'd also be sitting on $1M.

I thought ether was for huffing? Who knew

 

[Ceviche]

who is investing in Bitcoins basis present day rates?