If Only Bitcoin Existed In The 80’s When I Was A Kid In Argentina
If Bitcoin would have existed in the 80’s when I was a kid in Argentina, my parents could have used it, and it would have saved them lots of arguments, plenty of trips back to home to pick up more money, and lots of headaches due to the inflation that the country was suffering through. My fathers mechanic shop closed down since hyperinflation made auto parts too expensive. I remember walking to the store in the freezing weather to get bread, with the same amount of money my mom gave me to buy bread a couple of days earlier, and coming back home empty handed because the price had just gone up 200%. I remember a time when they sent me to get just under a half a gallon of milk, and the price had gone up over 300%. When I got back to the house my grandmother asked me what happened to the milk and I answered the money you gave me would not buy us a glass of milk, and she stormed out of the house grabbing me by the hand and walking 8 long blocks to the local small market to confront the owner and asked him what was going on with his prices. I remember the gentleman humbly, patiently, and respectfully explaining to my grandmother what was going on with the inflation.
Also the denominations on the bills became so high that it cost tens of thousands of Australes for a piece of candy or chocolate. A kilogram of potatoes cost 50,000 Australes, making it difficult to carry your bills in a wallet. Instead of wallets we used a suitcase to carry the worthless currency. Money printing by the government was the cause of the collapse of the currency. The government was and still is in control of currency printing, making it impossible to survive even to this date. Printing money is an everyday thing for them, causing the same bills to be worth less and less.
The destruction of the fiat currency will be the fastest rout to fix Argentina’s economy and inflation, since that could lead to adopting Bitcoin, which would put an end to this madness and destruction. It seemed like we were moving the right direction by installing Bitcoin ATMs in Argentina, but the government put a stop to the Bitcoin growth by stopping the installation of Bitcoin ATMs. By the end of 2019 over 1,500 Bitcoin ATMs were supposed to be installed to provide easy access. Maybe the G20 meeting that was held in the country has something to do with it, but I’m only speculating.
Argentina’s currency, the Peso, has lost more than 50% of its value against the dollar this year, with expectations of another 40% loss before the year’s end, making the country a perfect location for Bitcoin ATMs, which could help save the country’s collapsing economy by providing access to a relatively stable currency. Bitcoin is the cure to the country’s inflation and a cure to against greed, since Bitcoin has a fixed supply and cannot be printed at will by any government or entity.
Bitcoin could also stop the massive invasion of Argentinians into neighboring countries. In my family’s case migrating to the United States in the early 90’s was not easy. Bitcoin could of saved us lots of tears, sacrifices like losing love ones and not been able to see them, and it would have saved lots of cultures. If Bitcoin would have existed in the 80’s when I was a kid in Argentina, it would have turned my country into the world power that it used to be back in the day.