Re: Tim Draper Encourages Argentina’s President to Legitimize Bitcoin
"We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there's a lack of confidence in this coin.
that is a stupid decision, and it seems like Tim is either a big idiot who doesn't understand economy or he is trolling the whole country while trying to hype bitcoin up!
we all love bitcoin and we know of its potential but to declare it as a national currency today that price is still very volatile and there is manipulation in the market and also the whole thing is still small, is a terrible idea. and we know that this situation is not going to change for many years (probably another 5 to 10 years of same type of volatility). something like that can wreck the economy of the country more than its own currency even if their local currency is losing its value.
Just probably trolling the President, lol.
Yes, he is a bitcoin enthusiast and what better way to promote it but to talk to the President himself, make a safe win-win bet against him and then surprise surprise bitcoin has another state legalizing it.
But I don't think that the Argentinian President will bite though, he is surrounded with a lot of financial advisors and I'm sure that they know what Tim is trying to do here. But it's good to hear him trolling the whole country and hyping bitcoin.
