19.4 C
New York
Tuesday, October 26, 2021

Buy now

Cryptocurrencies against inflation in Argentina? Rodolfo Andragnes responds to Fernández

Key facts:
  • Better to individually adopt bitcoin than wait for governments, Andragnes says.

  • Fernández would have expressed his support for a bill on bitcoin in Argentina.

«It is almost a utopia to imagine that a country like Argentina, which depends a lot on giving the machine [de imprimir dinero], I can do it. This considers Rodolfo Andragnes, president of the NGO Bitcoin Argentina, on recent statements by President Alberto Fernández and cryptocurrencies as a possible tool against inflation in the country.

The also organizer of LaBitConf, one of the largest conferences on bitcoin in Latin America, was interviewed by the local newspaper Todo Noticias. And during his participation, he assured that bitcoin is deflationary in nature, but That does not mean that Argentina would become one simply by using the cryptocurrency.

For Andragnes, promoter of educational initiatives on bitcoin since 2013, one thing is what bitcoin (and by extension some cryptocurrencies) offers as technology, and quite another is that governments, and in particular Argentina, operate in the same way as far as monetary issue is concerned. Bitcoin, since its creation, has in its code an emission limit that will not allow the creation of more than 21 million units. National currencies are freely issued by central banks.

It is clearly a currency that is not freely issued. Therefore, one cannot hit the machine like we give it in Argentina or the United States. It is a currency that avoids that. Now, let that happen in Argentina […] It is not a question of whether the currency does, but rather that the government behind it assumes that it cannot print.

Rodolfo Andragnes, founder of the NGO Bitcoin Argentina.

Andragnes added that this system makes more sense if it is adopted globally, but starting from the individual decision of each one, to aspire to governments to act deflationary.

Rodolfo Andragnes in Todo Noticias. Source: YouTube.

It makes more sense at a global, individual level, to access this refuge of value that does not depend on the issuance of each State, than to imagine that the States are going to stop having the power to print when you feel like it or to cover their debts or to manipulate the price of your local currency.

Rodolfo Andragnes, organizer of LaBitConf.

Fernández, bitcoin and cryptocurrencies in Argentina

As reported by CriptoNoticias this Thursday, August 12, Argentine President Alberto Fernández did not rule out the possibility that his country used cryptocurrencies, although it seems to him “a matter of care.”

During an interview, in which he was asked about the recent adoption of bitcoin as legal tender in El Salvador, Fernández pointed out that with cryptocurrencies could cancel out “the inflationary effect”, to which Andragnes now responds.

The first Argentine president would have already expressed his openness to support a discussion around a bill focused on bitcoin and other cryptocurrencies. If approved, that proposal would legalize the payment of wages in cryptocurrencies.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected


Latest Articles