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While you provide some solid arguments, I feel that you are overlooking certain key elements. I myself feel that the likelihood of Argentina switching to BTC af

While you provide some solid arguments, I feel that you are overlooking certain key elements. I myself feel that the likelihood of Argentina switching to BTC after its upcoming financial collapse is quite low. However I feel that certain niche sectors of the economy could well jump to using BTC. The points that you overlook are: [1] The USD is currently being deflated like never before and could potentially collapse without warning. Thus making it increasingly unattractive to hold over long periods. [2] Argentina's online economy has recently suffered a huge blow with taxes for online purchases outside of the country. BTC is already becoming the international 'money of the internet'. [3] Most importantly, Bitcoin volatility has been decreasing over time as the price & adoption increases. This is something that shouldn't be overlooked as it has huge implications for the pricing of goods and services in BTC. [4] Finally, there are many ways to do fast transactions in BTC. Have you ever tried sending BTC from one android wallet to another? It comes through instantly. Granted that larger BTC transfers would still require more confirmations though. Off-blockchain transaction services could also kickoff soon. [1] http://mises.ca/posts/blog/murdoch-tweets-about-money-printing-and-inflation-reality-wont-be-far-behind/ http://mises.ca/posts/blog/murdoch-tweets-about-money-printi... [2] http://www.npr.org/2014/01/23/265195791/argentina-imposes-heavy-tax-on-international-online-shopping http://www.npr.org/2014/01/23/265195791/argentina-imposes-he... [3] http://elidourado.com/blog/bitcoin-volatility/ http://elidourado.com/blog/bitcoin-volatility/ [4] http://bitcoin.stackexchange.com/questions/11602/how-does-bitpay-manage-to-confirm-transactions-so-fast-less-than-a-minute http://bitcoin.stackexchange.com/questions/11602/how-does-bi...

coldtea 13y ago
>The USD is currently being deflated like never before and could potentially collapse without warning. Thus making it increasingly unattractive to hold over long periods. That cannot happen. The USD is tied to the Yuan to the Euro to the Yen and all. If it goes, everything goes. In case that happens, and we're talking about a situation that could trigger something like WW III, BTC will be perhaps the least safe place. One of the first concerns of big governments would be to squash those alternate currencies, and BTC just has some bits and bytes, they have the police, SWAT teams, and international agreements. >Finally, there are many ways to do fast transactions in BTC. Have you ever tried sending BTC from one android wallet to another? It comes through instantly. Yes, but I was talking more about the transaction to convert your BTC to "some currency I can actually use for my actual buying needs". (That you can use BTC with a "list of vendors that accept it" doesn't count. I don't want to buy novelty items from fringe vendors experimenting with alternative methods of payment. I want to buy a house from the realtor I want, I want to buy food from McDonalds down the corner, I want to pay my utility bill, etc...).

coldtea 13y ago

>The USD is currently being deflated like never before and could potentially collapse without warning. Thus making it increasingly unattractive to hold over long periods. That cannot happen. The USD is tied to the Yuan to the Euro to the Yen and all. If it goes, everything goes. In case that happens, and we're talking about a situation that could trigger something like WW III, BTC will be perhaps the least safe place. One of the first concerns of big governments would be to squash those alternate currencies, and BTC just has some bits and bytes, they have the police, SWAT teams, and international agreements. >Finally, there are many ways to do fast transactions in BTC. Have you ever tried sending BTC from one android wallet to another? It comes through instantly. Yes, but I was talking more about the transaction to convert your BTC to "some currency I can actually use for my actual buying needs". (That you can use BTC with a "list of vendors that accept it" doesn't count. I don't want to buy novelty items from fringe vendors experimenting with alternative methods of payment. I want to buy a house from the realtor I want, I want to buy food from McDonalds down the corner, I want to pay my utility bill, etc...).