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Aquarius Loan - A Decentralized Money Markets for Lenders and Borrowers in Core Blockchain
Bitcoin vs FIAT: How countries with hyperinflation would benefit if they adopted BTC 10 years ago?
BTC as a good store of value. In what all currencies has BTC hit its ATH value this year so far (2023)?
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"Money" as we know it is an experiment that appears to be failing. Fiat currencies always die. USD is following the same steps they all did. In currency failures, hard (scarce) assets like bitcoin do well. [It happened in Lebanon](https://www.xe.com/currencycharts/?from=BTC&to=LBP&view=5Y) [It happened in Zimbabwe](https://www.xe.com/currencycharts/?from=BTC&to=ZWG&view=5Y) [It happened in Argentina](https://www.xe.com/currencycharts/?from=BTC&to=ARS&view=5Y) [And it's happening in America](https://www.xe.com/currencycharts/?from=BTC&to=USD&view=10Y) For most of human history money was whatever was scarce. Sea shells, beads, shiny rocks. They were valuable because of how difficult it was to produce them. Bitcoin is a return to the norm, historically.
If you can buy the same things with 1 unit of whatever money today and in 10 years, then such a money perfectly maintained its value. Right now bitcoin is going up, because you can buy more of everything with one bitcoin today than you could 5 years ago, not just more US dollars, but more bananas, apples, houses, etc. The fact that today you can buy more Argentine pesos with 1 US dollar than you could 10 years ago does not mean the US dollar went up. Both went down, but Argentine peso went down faster. Both 1 ARS and 1 USD buy you less than 10 years ago. 1 BTC, no the other hand, buys you more. That is how you really measure the value. I hope this helps you understand my friend.
>Bitcoin solves many problems for people right now, people in authoritarian regimes who can have their regular bank accounts frozen for saying the wrong thing about their government can still operate because of Bitcoin. Yes, I know bitcoin is great for money laundering. >It solves the problem of storing value for many people who live in countries that suffer from hyper-inflation. Same as tuna. I do see the benefits, I just don't see what leverage it could have when compared to sound money. USD will always be relevant within the US because people are forced to use it. THAT is sound money. BTC? The moment the ship sinks, people can abandon ship (it has happened). You cant do the same with for example ARS in AR.
If you look at somewhere like Argentina with hyperinflation, that currency is so broken beyond belief yet it still exists. Not saying the pricing of bitcoin in fiat will disappear, cause ARS still exists. Will it be a tool used by the local people? We’ll see I suppose.
> Inflation is on it's lowest point since 2020 Anyone can lower inflation by promoting massive massive public debt creation in the form of government bonds and carry trade. Milei has turned Argentina into one of the most expensive countries in the planet measured in USD and has doubled the public debt in order to sustain the artificially appreciated peso therefore "lowering" inflation measured in ARS only. The purchasing power of the population is now much worse. > and every credible financial institution predicts big economic grow on 2025, but sure man yeah... like they did with Macri. We all know how that ended up, lol. And the economic growth you mentioned would come primarily from the energy sector, which is not representative at all of the economy and its job market. Very poor African countries also have a growing booming energy sector, btw. > poverty is going down This is very typical with the Argentinian economy: when the government devaluates its currency (Milei devaluated the peso by ≈100% in Dec 2023) you create a massive instantaneous poverty effect that after many months it goes away and the poverty rate returns to what it was previously... the issue is that it's never sustainable. You always end up devaluating the currency again because there aren't enough USD reserves (Milei has negative 10bn USD in net reserves right now). This is why Milei's government is desperately trying to get some sweet IMF bucks to attempt to prevent the collapse. In top of that, the IMF is asking him to devaluate the currency and remove the exchange rate controls (aka cepo). He will have to do all of that, which will skyrocket the poverty rate and expose the farce that is his entire economic program, which is entirely dependent of the cepo. For people that don't know what the cepo is, you can think of it as price controls but for almost the entire economy. Yeah, the "libertarian president" is in love with price controls because it allows him to engage in economic populism. Even with all the government cuts to social security to starve old people, the cuts in public hospitals to kill poor people, the cuts to public education to dumben the population, Milei's government net reserves are still at the same place that they were when he got to power. Just another historic example of the utter failure of an ideology that neoliberalism is. **There isn't a single thing that Milei has actually improved in a sustainable manner.** My post is starting to get too long but I also have to say this, which is tied to his crypto scam: I remember 8 months ago every Mileista in Argentina was talking about how the RIGI (Large Investment Incentive Regime) was going to bring billions of dollars of foreign investments to Argentina... none of that came and the only foreign money is related to short term financial speculation (government bonds, carry trade, etc) instead of actual productive investments for the real economy. Things are looking pretty bad, just like Mauricio Macri's government (2015-2019). Especially now that Milei is no longer the "global leader of Liberty" but rather is seen as what he truly always was: a thief, a scammer, a rugpuller, an ignorant, a low IQ dummy. What a disappointment.
Hey that’s pretty good. Is that is US dollars or ARS? You can barely rent a storage unit for $200 here.
Poor fiat, 1btc = 1btc and fiat is crumbling... Then 10M RUB rubles (oops, already 11M) Then 100M ARS pesos (oops, already 106Mil) Then 100K CHF francs Then 10M IDR rupees Then 1Mil HKD dolars Then 1Mil CHY yuans
Look up btc to USD/ EUR/ CAD/ CNY / MXP / YEN. There isn’t one currency that’s held up to BTCs scarcity. Look at BTC to ARS or Lira to compare countries where inflation is rampant
CHECK OUT THIS PROFITABLE CRYPTO ARBITRAGE Here's how it works: \* Price Difference: Currently, 1 USDT costs 1300 Argentine Pesos (ARS) in Argentina and 130 Kenyan Shillings (KES) in Kenya. However, there's a significant difference in the exchange rate between ARS and KES. 1300 ARS converts to 176 KES. \* Exploiting the Arbitrage: This price difference creates an arbitrage opportunity. Here's an example of how it works: 1. Me (in Kenya): Buy 10 USDT for 1300 KES. 2. Sell the 10 USDT to an Argentinean buyer for 13000 ARS (1300 ARS per USDT). 3. Argentinean Buyer: Pays me 13000 ARS through an AstroPay voucher. 4. I cash out the 13000 ARS voucher to receive 1760 KES. 5. Profit: i receive 1760 KES, which equals 13.5 USDT—a profit of 3.5 USDT on the 10 USDT transaction. \* Partnership: To take advantage of this, you partner with mein Kenya (me) who will be buying usdt at 130 kes and selling in Argentina to buyers willing to purchase USDT at the agreed-upon rate of 1300 ARS. We'd then split the 3.5 USDT profit on each 10 USDT transaction. \* Scaling Up: This exchange process can be repeated numerous times daily, leading to substantial profits as we scale the volume. Let's discuss how we can partner and capitalize on this opportunity. I'm confident this could be mutually beneficial. Note that there might be negligible price differences on different exchange platforms. Whatsapp +254756759355
A ton do accept US dollars and stablecoin! The rate on XE/Bloomberg is the official rate. However, it's hard to get USD down there so everyone goes to an area to swap ARS & USD at the "blue rate" : https://bluedollar.net/.
A ton do accept US dollars and stablecoin! The rate on XE/Bloomberg is the official rate. However, it's hard to get USD down there so everyone goes to an area to swap ARS & USD at the "blue rate".
Meant to write 1500ARS. Can't edit heading.
Wait. I need to scratch my ARS
It used to be even cheaper, for the last 6 months ARS /USD haven’t moved but we had more than 100% inflation. Still cheap and tho. I hope you have a great time here
Also, governments around literally have no choice except of continue higher scale money printing, since the beginning of the next year Which means - higher and higher inflation, even if we talk about well established currencies like EUR or USD (nothing to say about TRY or ARS) Billions of people would require some new currencies to save their holdings. What if a group of influencers can issue their own currency, backed by their expertise and skills, naturally compatible with CBDC's around the world? People would like to buy this token, only because it's emission is fixed and backed by a bunch of professionals, having a skyrocketing inflation of traditional currencies... That;s why I think our LifeToken and token-as-a-service features would be highly in demand quite soon.
I prefer [Bitcoin / ARS (Argentine PesoArgentine Peso)](https://www.coingecko.com/en/coins/bitcoin/ars) - Up to 820% in one year. Performing way better then BTC / GBP. The hard part was that I now had to move to Argentina to be able to live out my % gains to the full. There are so many advantages to living in a hyperinflationary country.
Before I explain anything, I need you to spend 30 minutes watching an animation. ​ [https://www.youtube.com/watch?v=mII9NZ8MMVM](https://www.youtube.com/watch?v=mII9NZ8MMVM) ​ Bitcoin is not controlled by any federal reserve. Does not change it's inflation rate. And when speculators have all run out of money, will become a viable currency. ​ After you watch that video, I want you to google about the currency policies in Zimbabwe, Venezuela, Lebanon and Argentina. Nations where the local currency has collapsed more than 90% at times. Holding bitcoin during a crash is probably preferable than holding Lebanese pounds after their devaluation. The LBP went from 1 USD to 1500 LBP to 1 USD to 15000 LBP official rate but 1 USD to 89000 LBP real street rate. https://www.reuters.com/world/middle-east/economy-worsens-lebanese-juggle-dizzying-rates-devalued-pound-2023-03-19/ Bitcoin also solves the need for banks. You store your own currency. And no nation in this planet can seize it. You cannot be sanctioned. No hostile government can ever take your hard earned money. ​ But at the same time, you money can move to any nation on this planet. There is no need to declare bitcoin on the airplane when you carry large amounts. You travel and move your crypto to a local exchange for local currency. You could hire remote workers in the other corner of the planet and pay them in bitcoin. Of course, notice how none of the points I have presented have anything to do with the value of 1 BTC. BTC may reach adoption at 1 BTC = 150k USD or 1 BTC = 0.50 USD. Nobody knows what the true value of bitcoin will be when it reaches equilibrium. The value of BTC in USD is irrelevant to BTC Adoption. Just like the value of Argentinian peso doesn't care for the value of 1 USD to ARS because people in Argentina use ARS. ​ I hope that helps. Dont ask me weird questions because I dont know lol.
Yeah, you should google “BTC to ARS and click on “all”
Yup… if a store of value had to stay the same price, the only store of value would be whatever currency you’re comparing it to, in this case the dollar. Wow… the dollar is the only store of value!!! Now compare the $$ to buy a loaf of bread, or a car, or a house over the years vs how many BTC it takes to buy those same things. BTC is clearly light years ahead. ARS isn’t stupid. He knows what he’s saying is stupid. He’s saying it for a reason, and only he knows what that reason is.
Search for price charts of bitcoin in other fiat currencies. BTC:ARS (Argentine peso) for example or Egyptian pounds. BTC has been making new ATH's for a while now in most fiat currencies, even the Japanese Yen. USD lags in this regard because it is "better" than most (all?) other fiat, with lower inflation, but still terrible compared to bitcoin. With bitcoin making new highs in most other currencies, I would imagine a new high in USD is right around the corner.
I see your NOK, and raise the ARS [https://www.coingecko.com/en/coins/bitcoin/ars](https://www.coingecko.com/en/coins/bitcoin/ars)
>2 ARS to 1 sat Moscow Time chiming 00:00 isn't that far away. People do not know it yet. [US public debt tops **$34 TRILLION** as Congress heads into funding fight](https://www.reuters.com/world/us/total-us-public-debt-tops-34-trillion-congress-heads-into-funding-fight-2024-01-02/)
In Argentina the price is already 2 ARS to 1 sat. It's wild and I just discovered it lol
My hunch is the dollarization of argentina. Value of the ARS dropped by half after the election of Milei. It’s one lf the better ways to cash out ARS for the folks in Argentina
There are no “gains” in Bitcoin. 100,000,000 sats = 100,000,000 sats. Only when you compare this pristine monetary instrument to a shitcoin like the USD or ARS are there “gains”. Drop the fiat mindset. You don’t want more dollars, you want what you think more dollars will buy you. Would you rather have $10USD or $100JPY? Or 0.01BTC?
ARS lost all value so the chart looks the same no matter what asset you're looking at
They devalued the ARS 50% last week btw
I came here to say...the alt view is that the fiat currency ARS is collapsing.
On binance is like 44 mil ARS so check this out until last week bitcoin was more than $100K in ARS
There are lot of people making money just by selling/buying USDT/ARS on binance P2P and similar platforms. Obviously the gap with the "real" USD is bigger, and there are ways to make that arbitrage, but usually it involves for you to know a place called a "cueva" (cave) where people exchange dollar at the "street" value... there are some that takes USDT and gives you the USD on hand... obviously this can be dangerous and is illegal
Argentina has had 120% YTD inflation for the argentinian peso. People's savings are already in USD. The purchase of USD is permited up to 200 USD per person per month, and even though the official rate is 1USD = 375 ARS, on the streets is 1 USD = 1100ARS. 40% of people are poor and 10% are homeless. The median salary per month is 350 USD (350.000 ARS) but the politicians earn 1800 USD (1.800.000 ARS). People can't make a living unless they have more than one job. They keep printing money for social aid but in doing that they keep making it harder for everyone. Javier Milei will try to stop printing money and use a more valuable currency. Also people use cryptocurrency a lot. I don't know what the solution is, but living with 148% YTY is not pretty.
Wow it’s 12,349,493.34ARS for one BTC. Will be weird if to see that be the USD price of BTC one day.
Argentinian here, you go to Binance and just buy it with pesos, lots of platforms accept them. you can check the ARS/USDT pair right now in tradingview
Massa wants to create ARS CBDC... that tells you all
To dollarize our economy it would mean effectively wiping out people's money, as our current conversion rate means we don't have enough US$ reserves (main problem of our inflation). So everyone that are now earning about 200-400 a month will probably end up making 25% of that (our unofficial exchange rate is sitting at about 1Us$/900ARS$ and if we want to avoid borrowing money again we must devalue to 1/5000 at least
Yes . 2020 was 60~ ARS for 1 dolar 2021 85 ~ARS 2022 100~ ARS Now 350~
Where did you get the idea that the country is ‘going BTC’? The proposal is to ditch the peso (ARS) and adopt USD.
Bro im from Chile and i have seen my argentinian bros struggle for years now , political corruption its probably a wold wide problem, but Argentina had the worst kind. Just look at the ARS /USD charts.
Nope... google says you need 350 ARS
I have family in Buenos Aires. I send them $BTC, $DAI, and $USDT. BTC hit an all-time high in Argentina two weeks ago. It's because BTC's paired against ARS. Even if Bitcoin has a loss, ARS falls much faster, so they actually win. It's a strange dynamic I've worked to wrap my head around. People in developing nations seem to understand money in a way we don't.
I have family in Buenos Aires who invest in Bitcoin. Discussing crypto w/them is like hearing about crypto in a different dimension. [Bitcoin hit an all-time high in Argentina on 9/23/2023](https://i.imgur.com/B1gTuwi.png). Bitcoin's up 235% over 12 months. We understand BTC's value based on USD. In Argentina, BTC's value is based on ARS. Bitcoin is +150% over two years; however, Argentina's hyperinflation is +300% over the same period. Last three years, their money supply inflated from 2.81 trillion pesos in July 2019 to 10.66 trillion pesos now, a 277% increase. Despite those returns, they'd prefer reduced inflation, even if it means they don't earn a return on BTC.
Would YOU trade BTC for ARS for a living? Where would you unload the crap?
Bitcoin vs. the Argentine Peso The bitcoin price on local Argentine exchanges is valued at 19.6 million Argentine pesos (ARS), while it was less than 14.2 million, ten times from the all-time high in US dollars of November 2021. Despite the 61.5 percent drop from the all-time high of $69,000, investments in Argentina are still at a gain of 38 percent when measuring their results in the local currency.
Same history in Argentina we used to have Australes (ARA) until 1991. The biggest bank note was 500.000 ARA. When they implemented ARA in 1985 the value was 1 ARA = 1.25 USD 6 years and a half after in 1992 they removed 4 zeroes. Before that in 1983 2 zeroes, in 1970 4 zeroes. Now that bank note is 50 ARS they changed at a rate of 10.000 ARA = 1 ARS. Is worth 6 cents so 220 sats. The biggest one is 1000 ARS or 1.25 USD was used to be one ARA if the zeroes would have been removed it would have been 10.000.000 ARA) or 10.000.000.000.000 from 1970 to today.
Stellar has the largest payment infrastructure from any blockchain project. They have over 200K Off/On ramp locations and support the largest anchor system (USDC, ARS, YEN, AUD, BRL) all running on stellar. It also has a smart contract platform coming this year.
Absolutely not. While most of the post is true and only a bit hyperbolic, that part is just not true. I'm traveling in a week and then again in a month, booked everything online and will travel just the same way I did when I used to live in the US, no difference at all. What OP is dishonestly saying is that they put taxes on USD spending, but that's because our official exchange rate is bullshit and half of what the actual one is (350 vs 730), and they obviously don't want people spending 100 USD and paying 35000 ARS, so they add "taxes" to make it close to the actual 730. They keep that official exchange rate because they fuck exporters with it. So if you sell something to the US for example for 1000 USD, they will only give you 350000 ARS for it.
It's all relative to the currency it's measured by. So BTC can be worth 28K USD and 26K EUR. If EUR/USD increases, BTC can be worth 28K EUR and 28K USD. If the currency that it's measured by has hyper inflation like ARS or TRY, then the value of BTC in this currency increases, while the value in USD remains the same. BTC is not becoming more valuable, instead the ARS or TRY is becoming less valuable and therefor the amount needed to purchase a BTC is increasing.
This shouldn't be surprising to anyone. All you regulation fetishists and adoption worshipers don't understand the dynamics at play here. El Salvador has USD as it's currency. Argentina has their peso (ARS). The USD is superior from a user perspective than ARS, because it doesn't experience 100%+ year over year debasement. The natural incentive for people to move from USD is weaker than from ARS. All the legislation in the world won't change crowd response to natural incentive. The government can't simply mandate this or that, they're not omnipotent, most of their energy is spent *responding to* their populations, not dictating to them. Adoption will happen naturally, all the regulation you can come up with won't help or hurt the process by any meaningful degree.
I'm from Argentina, and there's a lot of people using crypto nowadays. I wouldn't say it's the majority but it definetely growing. I also wanna add that much of that growth it's because of monetary restrictions and the high inflation. It's not that people are craving for BTC or ETH, but crypto offers the chance to buy USDC/USDT/DAI quite easily and mostly without restrictions. There is quite a number of fintechs that let you transfer ARS and swap it for stablecoins and some mixture of popular altcoins, they also offer creditcards that you can use to spend those stable/crypto and make the conversion at the moment of the purchase. (Lemon/Buenbit/Belo, etc.)
BTC is up 29.17% vs USD in the past year, and 226% vs ARS. BTC is also down -10.78% vs USD the past month, but it’s up 14.31% vs ARS. Those folks are not losing money buying Bitcoin, even if it’s down vs USD
Im gonna talk about a case from my country (Argentina): In 2001, we had hyperinflation (like today, but not quite chaotic), so the President of that moment decides that you can only withdraw from your bank 250 USD weekly, and later they forcefully convert your USD to ARS. Still from today, people are afraid to keep his USD in the bank, for this panic that causes this move from president of that moment. Its gonna take a while to people to trust and adopt a new monetary system. More a one that you dont have a physical control over it.
Oh - I got a good rate from this guy on telegram, they have an office near Recoleta - safe. I bet they can BTC -> ARS at blue note rate. @smartcryptoar
Me thinks Bitcoin is moving from weak hands to strong hands. Ignore Bitcoin’s volatility in USD. Look at what it’s doing in the ARS. Hashrate and node count are the metrics to pay most attention to.
Now that is not correct. 100% inflation means ARS is 50% down over a year (simplifying). There are lots of coins that are similarly down YoY (ADA, SOL) or even more (AVAX, FIL). And that's just looking at top coins. Many are -90% or more.
tldr; The price of Bitcoin in Argentina has surged to a new high after pro-Bitcoin presidential candidate Javier Milei won a primary election. Bitcoin reached a value of 10.2 million Argentine pesos (ARS) on August 14th, a 21% increase in less than an hour. Bitcoin has been steadily gaining value against ARS since late 2022, surging more than 210% since August 17th. However, Bitcoin has experienced a slight drop since hitting its record high. Milei's win in the primary has been attributed to the recent rally in Bitcoin in Argentina. He aims to abolish the central bank and adopt the U.S. dollar as the country's currency. While Bitcoin has been performing well in Argentina, it has been declining in global markets, losing 3.7% of its value against the U.S. dollar since August 14th. Bitcoin has also reached all-time high levels in countries like Turkey, which is facing massive inflation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
As i understand its against Argentine peso. That only means that ARS has lost its value against USD. Which is what happened (check USD/Argentine peso charts on Google). ​ Its clickbait headline and also it appears the author doesn't understand what is really happening.
People only focus on the Bitcoin vs US Dollar pair, what is my BTC worth in USD. Well lets say youre in another country like argentina or lebanon although the USD pair of BTC is down BTC vs other countries currencies is still putting in all time highs on the reg. https://www.google.com/finance/quote/BTC-ARS?sa=X&ved=2ahUKEwj49dWFu-KAAxVMnokEHVAODPUQ-fUHegQIBhAf&window=5Y If you're a citizen of another country BTC is doing exactly as you're describing and is working as a store of wealth.