Tuesday, May 27, 2014

Bitcoins in Argentina another experienced


Argentina as was described in the video for the last six months had been experiencing inflation. The government  is nationalizing and taking over local businesses. The inflation is about 25- 30% and there are price controls. There are a  lot of monetary restictions , locals cannot go the bank and exchange their pesos. They also cannot do international bank transfers, a beautiful country , charming people and good nature but the people are  monetary trapped. 

Thousands of people are protesting in the capital Buenos Aires and other cities agains the policies of president  Christina Fernandez de Krishner.  The people are angry about rising inflation, high crime, corruption, protesting agains limits on foreign imports and restrictions on dollar purchases.  If you have money  you will be losing 25- 30% a year. You cannot buy dollars,  cannot buy gold there are many restirctions  though you can buy  dollars on the black  market and exchange your pesos for bitcoins. 

In the video bitcoin become the answer of some people to ease them of the economic hardship. 



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