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Oh yes, Argentina, where the solution is unregulated crypto. Thank god swift is irrelevant to crypto because that's the core issue here.
by xwolfi 4y ago
Oh yes, Argentina, where the solution is unregulated crypto. Thank god swift is irrelevant to crypto because that's the core issue here.
- monero-xmr 4y agoWell the solution certainly doesn’t involve the government considering a century of destructive policies
- lern_too_spel 4y agoYour problem is failing to understand that the Argentinian government can regulate crypto just as it regulates USD.
- monero-xmr 4y agoAll real estate in Argentina is sold via USD as hundred dollar notes in a brief case. Entire businesses exist to facilitate these transactions. I don’t think you understand what a basket case this country and its government is.
- notch656c 4y agoI'm always baffled by people that think the way that laws are written must be the way things operate. Taxes in BA are above 100% of profits. On paper it's illegal to make money. Yet businesses exist. Some peoples' minds may explode.
- lern_too_spel 4y agoAnd I'm always baffled by people who fail to understand arguments. If a country can't regulate currency, USD is far superior to crypto. If a country can, neither works.
- int_19h 4y agoThe reason why they can enforce the regulations on USD is because you're either bringing physical cash across the border - which can then be intercepted by the customs - or you're doing a wire transfer to some local bank, which said bank will then duly report to the government. They can certainly pass equivalent regulations on BTC. Good luck enforcing them, though.
- lern_too_spel 4y agoYou enforce exactly the same way — at conversion to local currency. If you hold US currency abroad, there is nothing Argentina can do about it.
- int_19h 4y agoConversion to local currency happens on the black markets. And BTC so exchanged just flows back out of the country.
- lern_too_spel 4y agoSame with USD held abroad.
- int_19h 4y agoHow do you get USD held abroad into the country, short of physically smuggling cash past the customs with all the danger that entails? A bank wire or something like Western Union is within the regulatory framework and will get you reported.
- throw123123123 4y agoHow would that work?
- xwolfi 4y agoAnd I sure think Changpeng Zhao is full of policy proposals for Argentina. His first one: you should headquarter all companies in Lithuania.
- int_19h 4y agoWhose core issue? If you mean the country as a whole, then yeah, the solution is obviously different. But if you mean some random person stuck in that country, who have zero control over its economic policy - then yeah, crypto actually solves the problem that government creates. And Argentina is far from unique in that regard. Most people in the world live under oppressive governments.