30 Apr '15, 6pm

Bitcoin's growing popularity in Argentina shows why it's not a fad

Americans like to talk about themselves, so when we talk about Bitcoin we usually focus on ways the technology can make life better for American consumers. But an in-depth piece in the New York Times illustrates why the currency could have a brighter future overseas. Nathaniel Popper describes a day he spent hanging out with an Argentine Bitcoin trader: That afternoon, a plump 48-year-old musician was one of several customers to drop by the rented room. A German customer had paid the musician in Bitcoin for some freelance compositions, and the musician needed to turn them into dollars. Castiglione joked about the corruption of Argentine politics as he peeled off five $100 bills, which he was trading for a little more than 1.5 Bitcoins, and gave them to his client. The musician did not hand over anything in return; before showing up, he had transferred the Bitcoins — in ess...

Full article: http://www.vox.com/2015/4/30/8521747/argentina-bitcoin-in...

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