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RE: Argentina's $10k limit on fiat foreign currencies is a boon for bitcoin!

in #bitcoin5 years ago

Exactly my opinion to, crypto is the safe haven if Argentina indeed turns into a second Venezuela! The world is starting to scream recession, we should all be preparing now because if indeed it happens, crypto exchanges will have a overflow of masses and it will be too late imho! Altough, this isn't the first time Argentina imposes these laws, the last time the maximum for individuals was $1000 per month, if I'm not mistaken, the $10.000 that they are imposing now is a much bigger amount, not sure if that's a good thing or bad, with the US raising their debt ceiling, student loans near default date, a recession smell in the air, and crypto as an safe haven, not sure if those $10.000 will do anything at all if all of these systems fail one after the other... most likely those $10.000 won't do anything and anyone not hodling crypto (BTC especially) will go under with the country.

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We will likely find out in the next couple years. Traditionally when the yield curve becomes inverted, I believe it takes 12-24 months before recession actually hits.