Post
Topic
Board Bitcoin Discussion
Re: Central Bank of Argentina hosts a live Bitcoin mining exhibit
by
CryptoGamblingSites
on 22/11/2024, 00:51:33 UTC
The problem for Argentina is all the DEBT is based on Argentine Pesos, which has been dramatically inflated over 4 years

In 2021 $1 US gave you 100 Argentine Pesos

Today $1 US gives you 1000 Argentine Pesos

https://www.xe.com/currencycharts/?from=USD&to=ARS&view=5Y

The government has to do something about all the old debt, while trying to move to more stable ways to "store value" in whatever money they plan to use.

When I was there, getting the Pesos was extremely difficult and their is a blue market as well as a regular market rate to get their Peso, so it's still quite a mess there.