One cent (Centavo) in Argentina is now worth less than one satoshi

By Permabull | BTC Latino | 6 Jul 2020


The smallest Argentine monetary unit - Centavo, in circulation since 1854, is now worth less than one satoshi - the smallest unit of Bitcoin.

The Centavo joined a special club with Vietnamese dong and Lebanese Lira (also known as the Lebanese Pound).

Centavo

Image courtesy of RankCurrency.com http://www.rankcurrency.com/argentina/1-centavos-coin-of-argentina/

I understand this is really sad news for many Argentinians but we have to show this to other people around the world to see what can happen to their currency too. Especially nowadays with every government just printing money like there's no tomorrow.

On the other hand, whoever managed to exchange Argentina's Peso for Bitcoin even at the end of 2017 ( Bitcoin at ATH moment for most of people around the globe) is probably more than happy as Bitcoin in Argentina is at ATH in the last few weeks already. Great store of value! Not just because Bitcoin keeps climbing up in Argentina all the time, but the government can't regulate how many sats you can own, nor exchange. Yep, people living in Argentina can exchange only 200 USD per month in the official exchanges. The rest can be exchanged only on the streets where you're risking to get fake dollars.

Bitcoin in Argentina

As I was checking the price at coingecko (excellent website BTW much better than coin market cap) I came across another country in Latin America where Bitcoin keeps climbing up. The biggest Latin country - Brazil.

Bitcoin in Brazil

200,000,000 people watching their currency to lose value day by day. Will Bitcoin save them? I certainly hope so.

 

 

Check my previous posts, please:

544 BTC were traded in Venezuela last week

92 Bitcoins were traded in Argentina last week on LocalBitcoins

The 8 Bitcoin documentaries, everyone should watch at least once - 6 hours of the best video about Bitcoin.

Guide how to mine crypto with your computer, no skills necessary. True passive income without any investment.

Guide how to earn Bitcoin with (almost) NO skills required.

 

 

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Permabull
Permabull

Saw crypto as a way to make some cash, a get rich quick scheme. Learned about the tech and will stay in forever. Watching the GOV spending in 2020 made me realise how fiat is controlled way too much and becoming worthless be a minute. Bitcoin for the WIN!


BTC Latino
BTC Latino

Hope this blog will help to spread the awareness about the financial situation in the Latin countries as well as the use of cryptocurrencies in poor countries as an hedge against corrupt governments. Currently mostly about Argentina and Venezuela, more countries to follow.

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