Bitcoin Can't Save Argentina…..Sorry

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The recent drop in the peso has led some to call for Bitcoin to be adopted, this video explores the challenges of a country adopting crypto.

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33 comments

  1. I think fiat stable coins is fine as long as you choose what fiat you're tying to. The dollar works just fine.

  2. Argentinians dont need Bitcoin as a currency, they just need Bitcoin to store their wealth and protect it from inflation, devaluation and confiscation.

  3. I think we might only need for the people to believe in it, that it is a better solution. The current solution works for many people, so that is why I think it takes longer to adopt. Technological, tokenomical and other advancements will come faster with higher adoption, including faster transfers and lower volatility. But for the basic usage we can already reliable transfer tokens, and some solutions are relatively fast in doing that.

  4. Just gonna throw this out there…. "Fortune favors the bold." -??? I don't know who said that but if I was the leader of a third world country, I'd make BTC or ETH the currency of account in a heartbeat. Why not?!

  5. Hey Lark, you asked what is needed to make crypto currencies really go mainstream/adopted? I think Bitcoin needs an easier way to implement smart contracts. With that, we could see all that value locked up in Bitcoin fuel a Defi movement like the one happening over on the Ethereum side of the aisle.

  6. But Digibyte can! Much more superior hands down. DGB is not a "Dumb" coin.

  7. I did not enjoy this video. You seem to be playing down bitcoin extremely. Not an uplifting video. Not good.

  8. The only answer is xrp converted into any asset you want to hold, via the inter ledger protocol 🤷🏻‍♂️ you choose

  9. and KABOOOMBOWZA! Crypto Lark laying down the subtleties of his crypto knowledge like a damn chief

  10. Bitcoin will be second…Kbc, kcb are going to stabilize things a bit…if you're in.

  11. * Using Math to Prove that Bitcoin WILL FAIL! *

    1) Failure to scale.

    Bitcoin transactions per day is around 400k transactions.

    https://www.blockchain.com/en/charts

    Global digital payments forecast for 2020 is around 2 billion transactions per day.

    https://www.cnbc.com/2017/10/09/digital-payments-expected-to-hit-726-billion-by-2020-study-finds.html

    For Bitcoin to replace fiat currency it would need to handle over 5000 times more transactions than it currently does today (2B/400k = 5000). This means that just maintaining the current performance would require 5000 times greater computing power!

    2) Failure on energy usage.

    Bitcoin accounts for 66.7 terawatt-hours per year or 0.2% of all global electricity usage.

    https://www.vox.com/2019/6/18/18642645/bitcoin-energy-price-renewable-china

    This equates to 5000 x 0.2% = 1000% of the total global electricity usage (i.e. 10 times more electricity than is currently consumed by the entire planet!). And this just for Bitcoin alone!

    3) Failure on speed.

    Bitcoin's average transaction confirmation time is 10 minutes.

    https://www.statista.com/statistics/793539/bitcoin-transaction-confirmation-time/

    With 5000 times more transactions to process, Bitcoin's average transaction confirmation times would slow to 10 minutes x 5000 = 35 days!!!

    4) * THE END *

  12. So, when the crisis happens, it's too late? Better to tell people now to stop holding alot of single fiat?

  13. Crypto needs a big retailer to push for it to gain adoption, that or a government endorsing it, but no government will endorse a crypto they can't 'print' on demand. Wal*Mart may be The One to make it happen, they have the patents, they own a bank, and they do huge transaction volume every day with a large percentage of the population in many countries. I can't believe they are not doing this already, but the parts are all there to move on it.

  14. Zilliqa is the best solution for Argentina right now, specially with charding.

  15. Great information! I'm 67yrs old, l am trying my best to buy Bitcoin but understand l need to set up a private wallet. Hyperinflation is coming I'm convinced and as you said Those Argentinians that have bitcoin can keep up with the wheelbarrows. Thanks for your balanced pros & cons which is why so many trust you and follow you religiously.

  16. My idea about how physically crypto or bitcoin can be circulated like day to day money is a govt backed infrastructure like a trezor hardware or a physical prepaid card creating a monetary system that is functional to every payment, credits, or any financial streams

  17. No country will ever be ready without starting. Regardless it has to be eased into

  18. So do you think Bitcoin has no future if lack of speed of transaction, privacy non volitivity are serious issues that make Bitcoin more redundant against a crypto that does not have such problems ? Is that what you are saying here Jack, because that is what I am hearing?

  19. Im from Argentina Lark, been stacking sats since april, its a relief in this hard times, an I Will troy to keep stacking as many as I can, peso cost average

  20. I'm from Argentina and I can say this is a dollarized country in the shadows, but BTC is coming next

  21. Dude. You called bitcoin not dropping below 10k, a couple of days ago….
    Fail.

  22. Hey….Where did your Leverage trading Plug / Paid Shill go.? How many professional traders are tuning in to your channel, ya think? Argentina who, She sounds Nice? Bitcoin wont save ANYONE! Everyone should save their money to buy a Swiss army knife…One day, You may need it to cut your arm off, because you got it stuck under a friggin rock….

  23. But in the end of the day this countries will feed up with FIAT and one of this countries will hire top engineers to make BTC or any Crypto as currency. Mark my words we are there little more time and we will see some news a X country dropped FIAT. You will see

  24. as far as stable-coins go. someone will get it right. We have all kinds of smart people working on so many different kinds. for now gold will have to do as the best kind of tethered resource and some fiat that doesn't change too rapidly.

    I think "time" is part of the solution.. since it is our most precious asset. If only we can peg an easily agreeable value on it.

    Staking coins are onto something.. but none (that i have heard) have it right as far as solving stability.. because time factors in.. but it's still manipulated by price/amount of the tokens being staked.. so not reliable.. but i like how time is being thought about.

    Or how about we just forget money and go the way of Star Trek, where they no longer have use of money.

  25. SP500 is down 2.96%, Gold as a hedge 0.5% up. So why BTC is down 6.64% on low volume ? Is not BTC supposed to be a hedge ?