Javier Milei and the Free Market of Currencies
1031 sats \ 8 comments \ @SatsMate 21 Jun bitcoin
What is up All,
What are your thoughts on Javier Milei's recent commentary regarding the free market of currencies? It seems like Bitcoin, Silver, Gold - whatever people want to use as a currency is allowed without government decree or taxes.
I think this is a perfect case to see Bitcoin play out. I have a hunch a large number of transactions will take place over pesos, dollars, and other commodities.
What do you think could be done to see Bitcoin grow organically? Historically Argentina was pretty opposed to Bitcoin so there aren't that many large communities (like we see in Costa Rica Bitcoin Jungle, Bitcoin Beach El Salvador & Lago De Bitcoin in Guatemala).
It will be interesting to study and see Gresham's law play out in real-time. What other things could be done to organically see Argentina leverage this as their number one asset? If you'd like, check out the podcast I created yesterday on this topic surrounding Javier Milei and the free market of currencies. Thanks all!
https://fountain.fm/episode/wcOE0SkInnO6eis179rs
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42 sats \ 1 reply \ @cristaiji 21 Jun
Liked and Subscribed. 👍
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0 sats \ 0 replies \ @SatsMate OP 21 Jun
ty ty :)
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21 sats \ 1 reply \ @TheBTCManual 21 Jun
Lol crazy to think that just letting people make their own decisions on how they trade and draw up contracts is seen as radical, I prefer this approach then making it legal tender, let the market decide
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0 sats \ 0 replies \ @SatsMate OP 21 Jun
Same! There was alot of controversy back in 2021 when they made bitcoin legal tender in El Salvador, but they also allowed trade in the dollar as well.
Would be cool to see each city in Argentina try their own currency and see which one works the best.
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21 sats \ 1 reply \ @riberet19 21 Jun
I think this is very good for the economic development of Argentina, quite a few people will use Bitcoin for their transactions, so let's see how it develops, I have to say that Milei at first was not to my liking, but as time goes by I like him more.
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0 sats \ 0 replies \ @SatsMate OP 21 Jun
Right, I think the tourism aspect will really take off with people around the world going to Argentina as well. Gold, Silver bugs - and bitcoiners. Anybody who is a proponent of hard money will want to witness this play out.
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21 sats \ 1 reply \ @0xIlmari 21 Jun
This is exactly as things should be, with a non-pathological government. In my opinion, capital gains tax, along with property tax, are some of the most insidious and immoral forms of direct taxation (as they tax ownership instead of productivity), yet are widely normalized in modern societies.
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0 sats \ 0 replies \ @SatsMate OP 21 Jun
Exactly! I really like Milei and Bukele, and I know they will put things in place to try and enrshrine hard money or the freedom of monies - but unfortunately the political winds always shift over 4-8 year periods and they may not be re-elected in 2028.
Taxation is theft, and these two guys are gems in a coal mine.
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