USD stablecoins are also possibly still being used, but they are being purchased through underground "crypto caves" to skirt currency controls.
86 sats \ 1 reply \ @Enemy_of_the_state 23 Mar
I love reading the no-coiner cope in the zero hedge comments 🤣
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0 sats \ 0 replies \ @Bell_curve 23 Mar
Argentina means land of silver
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76 sats \ 0 replies \ @riberet19 25 Mar
Seeing the inflation of the Argentine currency, the dollar purchase limits they had, and the rise of Bitcoin, it does not surprise me that this is happening.
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76 sats \ 0 replies \ @Bell_curve 23 Mar
https://scanalyst.fourmilab.ch/t/crypto-in-the-real-world-argentina/1859
From 2022
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76 sats \ 3 replies \ @Bell_curve 23 Mar
Dollars and stable coin are popular in Argentina
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20 sats \ 2 replies \ @siggy47 OP 23 Mar
Makes sense. Have you visited? Do you have any boots on the ground information? It would be great to get a sense of what's really going on.
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130 sats \ 0 replies \ @Bell_curve 23 Mar
Unfortunately I have not visited.
I rely on information from the blogger, Devon.
https://www.freethink.com/hard-tech/crypto-argentina-black-market-cash
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76 sats \ 0 replies \ @nikotsla 24 Mar
I could shed some light here :), I have some boots on the ground. The article is the classic pump and dump that all "crypto" wallets (lemon/belo) use and add to FOMO.
When the price of BTC skyrocket the "bitcoin demand" surge, but only to cashout to stable shitcoins at the first downturn. Almost 80% of the economy move in a "black" market, and the "caves" adopt USDC/USDT as an easy way to manage dollars.
At the beginning there was a good BTC community but most of it "turn" to shitcoinery when ETH and the "new" crypto assets bubble popout, all the meetups and events turn to this new shinning thing
I am aware only by this "core" BTC community that only talk about BTC https://lacrypta.ar/. The old gang seems to sell off, https://bitcoinargentina.org/ (bitcoin and cryptomonedas), https://agenda.labitconf.com/ (NFT talks/web3)
my2cent
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64 sats \ 1 reply \ @jakoyoh629 24 Mar
I would say 35,000 weekly purchases is a low number. Am I missing something here?
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27 sats \ 0 replies \ @02bcd3eeb0 24 Mar
Nope, just nonsense hype. That's less than 1/1000th of the population
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0 sats \ 0 replies \ @Coinsreporter 24 Mar
That's a good thing for Bitcoin but Argentinians are more like USD guys. https://www.coindesk.com/markets/2024/02/12/tether-and-circle-stablecoin-purchases-dominate-in-argentina/
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