Bitcoin trading soars in Argentina, Brazil as local currencies weaken | Crypto Craft

  • Bitcoin trading soars in Argentina, Brazil as local currencies weaken

    From decrypt.co

    While DeFi may have some traders dreaming of complicated lending strategies and governance protocols, in certain parts of the world it’s still Bitcoin that promises a censorship-resistant way to protect against rapidly inflating local currencies. According to a recent report from analytics firm Arcane Research, Bitcoin has just broken price records in Argentina, Brazil, and Turkey—with growth (in fiat terms) of 169%, 20%, and 5%, respectively, over the last two months. tweet In truth, however, these stats say much more about the troubled state of these countries’ economies than it does about any growing local ... (full story)

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TudorIoan
Aug 10, 2020 11:23pm
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For the long run trash like bitcoin doesn't prevent inflation. Simple basics, when the economy is falling the same amount of bitcoin - or whatever - is chasing lesser goods.
Anyway, "national scale purchasing power" doesn't change just if you convert a shit for another shit...
Small people are idiots even if they buy early - that's luck, not strategy - and crypto crooks are smart enough to take advantage of that

Bitcoin, a world of crooks and stups ...same as ever
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