Why Argentina's Debt Default is an Opportunity for Bitcoin
James Downer is a student of International Relations and Computer Science and is fascinated by the collision between the two subjects. In this article, Downer discusses last Wednesday's debt default by Argentina, bitcoin's growing role in the country and its thriving black market for dollars. If Argentina's 'Default Wednesday' had been as bad as its 2001 debt default, the country's citizens would be scrambling en masse for alternatives to the peso - such as bitcoin. When Cyprus, with a population of just over a million, suffered a financial crisis in 2013, freezing bank accounts and....
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Working out a repayment plan should be the top priority for the Puerto Rican government, but that will not be the case for the foreseeable future. Puerto Rico is not often mentioned in a positive content when it comes to the financial sector. Neither is this story, unfortunately, as the country decided to default on its debt. But at the same time, the reason for doing so makes a lot of sense. All of this is still somewhat good news to push Bitcoin adoption in the country to new heights, though. Defaulting on debt is never a good thing, particularly not for a region so deeply indebted as....
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