11 Jul '13, 10pm

Bitcoin a Refuge For Argentines Tired of Government's Currency Despotism

Bitcoin a Refuge For Argentines Tired of Government's Currency Despotism

Credit: jmalievi/flickr Bitcoin's popularity in the U.S. is gradually rising as it branches out from tech-savvy and libertarian circles into the mainstream financial world. But who may benefit most from the technology are residents in countries like Argentina, where independent observers estimate inflation at 25 percent and the government imposes strict capital controls. The price of Bitcoins in Buenos Aires are about 30 to 40 percent higher than those in neighboring Uruguay, and last week, a Bitcoin Meetup brought 150 Argentines to the nation's capital to discuss the advance of the technology in the country. From Forex Magnates : With the Peso undergoing yet another period of severe inflation at a rate of 20%, and now President Kirchner’s attempt to lure citizens back into the banking system over which they have absolutely no trust, by attempting to repatriate the US doll...

Full article: http://reason.com/blog/2013/07/11/bitcoin-a-refuge-for-ar...

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