flix on Nostr: Argentina legalised Bitcoin for payments, contracts, etc. But not just Bitcoin - they ...

Argentina legalised Bitcoin for payments, contracts, etc.

But not just Bitcoin - they legalised currency competition- Recognising what was already a reality. In Argentina today almost all large transactions were carried out in USD. The new president Javier Milei has been clear about his plans to dollarise the economy, end the Peso and shut down the central bank.

However by legalising currency competition and ending the enforcement and persecution of currency exchangers... he is actually opening the door to Bitcoin as an alternative to the Peso and also to the Dollar. This is very relevant because, while USD use is widespread on the street and for larger trades, online USD payments were difficult and will probably continue to be so for a while, even more so international payments. But argentinians can download a Bitcoin LN wallet and get zapped on Nostr in minutes.
Many will, as it remains the best online option for them.

By the time the USD starts being as inflationary as the ARS:

1. Argentinians will be free to choose currency
2. They will already be familiar with Bitcoin from online payments

Today they will migrate from ARS to USD in mass. In a few years they will do the same from USD to BTC.

All that the government needs to do is not stand in the way!