Youtube Film: Smart Tourists Selling Bitcoins In Argentina

[el_expatriado]

This YouTube Film has been on the bitcoin mailing list for a week or two now. I went to the last bitcoin meetup here in Buenos Aires and it was exploding with more than 100 Argentines and expats. Its the new way to get around the foreign exchange controls without dealing with cuevas or shady guys on Florida Street.

How does it work?

1. Setup an account and buy bitcoins at any of the online exchanges. You'll need to wire money from your bank account abroad.
2. Join the Argentina bitcoin mailing list.
3. Send an email saying that you have bitcoin for sale and wait for Argentines to email you offering you prices.
4. Once you get a price you like, meetup somewhere safe and do the trade. They give you the cash. You transfer them the bitcoins.

Tip: Bitcoins have their own exchange rate and change every day. You can avoid exchange rate risk by buying and selling on the same day. Don't buy until you have an Argentine who agrees to buy your coins. This way you don't take on any risk of the price dropping.

Its pretty easy to do and the people who meet you to buy the bitcoins are all normal Argentines (most are tech nerds) like the guy you see on the video. Bitcoins sell for the blue rate here in BA and there is a serious shortage. Tourists and expats are actually some of the big sellers in this market.

While Xoom is paying out at 8.35 today, you can buy and then sell bitcoins and get 9.40 for your USD.

 

[sleslie23]

Here are a couple of more videos about Ye Olde Bitcoin. Enjoy!

http://www.colbertna.../bitcoin-plunge

http://www.colbertna...--adam-davidson

 

[khairyexpat]

Sleslie:
I do not want to invest in Bitcion. I want to use it to get the Dollar Blue Rate.

 

[khairyexpat]

Expatriado:
Does this present the same risk level as going to the "arbolitos"?
Why you say go to a sfae place?

 

[sleslie23]

Sleslie:
I do not want to invest in Bitcion. I want to use it to get the Dollar Blue Rate.

Khairy: I don't care what consenting adults do with their money. Just posting something I found funny related to bitcoin.

 

[khairyexpat]

Cool

 

[ajoknoblauch]

Utterly speculative and risky, unless you have money to throw away.

 

[scotttswan]

Another bitcoin thread YAY!

Lets just change all our money into a system that can't even handle one gambling site running on it. How much are they worth? check out Mt.Gox or Magic: the Gathering online exchange as it used to be called.

http://buttcoin.org/

 

[scotttswan]

Bitcoin
high: 266.00 low: 10.33
over the last 6 months.

http://bitcoinity.org/markets

:lol:

 

[khairyexpat]

I don`t care less about Bitcion. I just want to use it to wire myself pesos at the Dollar Blue Rate.