Re: Argentina Defaults 2nd time in 13 years!

What will this do to the Bitcoin market price? Its the middle of the night.

This may be big news.

No it's not. The economy of Argentina is too small to have an impact. People there rely primarily on the dollar to protect them against the ongoing devaluation of the peso.

I think they have a healthy bitcoin community, but it's only a tiny fraction of the population. Also, I don't know of any notable bitcoin exchange operating in Argentina.

ya.ya.yo!

Argentina economy it´s too small to have an impact? Argentina it´s on the top 20 most oil production countries. It produce the 15% of the world soya production. It have the third biggest lithium resources. And 8% of all grain in the world are produced in Argentina. Etc, etc.

I did not say that Argentina's economy is small in a general sense. But it is too small for the default to have severe global consequences, because it is not highly interconnected or within a bigger common currency zone like countries in the EU for example. You also have to take in consideration that the default might damage but will not extinguish the whole economy, since it does not come without warning.

ya.ya.yo!