

Bitcoin Transactions Rise As Economic Unrest Hits Argentina - Sealy
http://techcrunch.com/2013/07/16/bitcoin-transactions-rise-as-economic-unrest-hits-argentina/

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wslh
1) One of the best cryptographic analysis of bitcoins is from an Argentinian:
[https://bitslog.wordpress.com](https://bitslog.wordpress.com)

2) If the developer is Argentinian he/she can do the job for foreign company
and earn dollars.

3) They can bring the dollars to the country using the black market.

~~~
eeky
Why not use bitcoin instead of dollars? The point of using dollars in
Argentina is to avoid inflation by a central entity, but doesn't bitcoin solve
that problem better? It has the added benefit of not being explicitly illegal
and having to use a black market.

~~~
wslh
If you are a developer bitcoins are not the best option. How many customers
will prefer to pay you in bitcoins than in the local currency? very few and it
can be an extra headache for them. Also bitcoins' fluctuations can play
against you because you can't change your price all the time according its
hourly value.

~~~
gojomo
Good customers might not mind or find it much of hassle.

Compared to sending hard currency to a an Argentinian, it might be far less
hassle, especially for the developer.

And you _can_ quite easily change your BTC price all the time: negotiate the
rate in USD, but always settle in BTC, using the exchange rate at the moment
of payment.

~~~
eksith
Good customers tend to be a rare too though.

It's less about the fluctuation and more about other services not accepting
Bitcoin at the moment. If your utility providers accept Bitcoin that could
grease the wheels a bit toward general acceptance.

I don't even consider Bitcoin's privacy as a selling point; more than that,
it's that real forgery is impossible like going back to the days of trading
with gold*

*Of course there were crafty forgers mixing in lead and the like to make fake coins and bullion, but crypto makes that harder.

~~~
lukeschlather
Bitcoin offers pretty poor privacy. Bitcoin is basically like using a credit
card that posts every purchase you make on the Internet. Now, unlike a credit
card your name isn't necessarily tied to the a bitcoin wallet, but
realistically you're unlikely to have more than a few bitcoin wallets, and
even if you have multiple ones, any transfers you make between them will also
be publicly broadcast, so someone with a bit of computing power can likely
compute with very high probability what you're doing with your money if they
can locate a single transaction they know you have made.

------
Sealy
I hope these kind of events help lead up to a critical mass where adoption
starts to skyrocket. What articles like these show is that people are starting
to have more faith in the cryptography-backed currencies then their own
government backed currencies.

Great news for those bullish on bitcoin. (Like myself)

------
trilobite
Please do not spread this FUD, I write this from Argentina and believe me
there is no economic unrest. There is a great political battle and every side
uses as much press as they can get but that does not make any of what they
publish true.

