Bitcoin a Refuge for Argentineans?
Wherever currencies wobble, bitcoin becomes more attractive
It is nearly impossible to detach politics from bitcoin although many try. The reason being that everything bitcoin touches has social and political ramifications that are too startling to ignore. Argentina is no exception.
The mere existence of the Bitcoin network is subversive. The politically-shrewd and often critical bitcoin seeks independent validation like a jester in the court of monetary sovereigns. Just as last month's headlines of confiscation at Cyprus banks catapulted the nonpolitical bitcoin into the minds of ECB-wary depositors, the monetary woes of Argentina showcase the potential for a cryptocurrency that can offer safe haven from a rapidly depreciating government peso.
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