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Listen/read the latest econtalk episode to learn why Stable coins are supper popular at places like Argentina: https://www.econtalk.org/devon-zuegel-on-inflatio

Listen/read the latest econtalk episode to learn why Stable coins are supper popular at places like Argentina: https://www.econtalk.org/devon-zuegel-on-inflation-argentina-and-crypto/ https://www.econtalk.org/devon-zuegel-on-inflation-argentina... Basically, the reason is that the Government print a lot of money which result in high/hyper inflation, but then create all these obstacles for the locals to run transactions in more stable currencies (e.g. USD). The locals use Stable coins to facilitate transactions that would otherwise be very hard or impossible to perform in local currencies (e.g. buying a house).

JumpCrisscross 4y ago
> why Stable coins are supper popular at places like Argentina People want to hold dollars without following KYC. Stablecoins temporarily fill this niche. (There is zero chance this is allowed to persist. But it won’t be a priority until we catch serious bad guys laundering money with stablecoins.)
martindale 4y ago
It's mostly Bitcoin, actually.
dools 4y ago
“ Basically, the reason is that the Government print a lot of money which result in high/hyper inflation” Incorrect, Argentina has problems with currency stability because they issue debt denominated in a currency they do not issue in order to satisfy import requirements
- notch656a 4y ago
  Argentina's money supply has rapidly expanded with their recent currency crisis. https://tradingeconomics.com/argentina/money-supply-m2 https://tradingeconomics.com/argentina/money-supply-m2