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Re:Argentina's New President Wants to Adopt the Dollar as th... by wvlia5 on Monday November 20, 2023 @09:34AM (#38348831)
Argentine here.

This is false: we will abolish legal tender.

Currencies will compete. Many people will choose the dollar.

This is the fulfillment of Hayek dream of stripping control of the currency from the state.

Re:Argentina's New President Wants to Adopt the Dollar as th... by papichulo2023 on Monday November 20, 2023 @09:41AM (#38348952)
Pretty much this. In practice most people will choose the dollar, as long as it remains stable at least.
Re:Argentina's New President Wants to Adopt the Dollar as th... by ace32229 on Monday November 20, 2023 @09:41AM (#38348946)
What currency would the government pay benefits/public sector employees' wages in?
Re:Argentina's New President Wants to Adopt the Dollar as th... by liotier on Monday November 20, 2023 @10:19AM (#38349390)
At that point in lunacy, I wouldn't discount Milei having a plan to replace all public sector employees with private firms.
Re:Argentina's New President Wants to Adopt the Dollar as th... by wvlia5 on Monday November 20, 2023 @10:35AM (#38349532)
This is true. Long-term plan is to abolish the state itself, as Milei is a declared anarchocapitalist
Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Monday November 20, 2023 @10:42AM (#38349600)
He is also a populist, who would not even allow a abortion, to a 10 year old rape victim. (that was a literal question and answer in an interview with him). Oh and he would allow the selling of children.

So I would question the consistency of his freedom ideology. If you use the state to enfore strict law on abortion, meaning deciding over other peoples bodies, how will you do so without a state? Or why do so, when you do not want a state at all?

Re:Argentina's New President Wants to Adopt the Dollar as th... by ryandrake on Monday November 20, 2023 @10:55AM (#38349731)
The guy's Wikipedia page[1] is a wild ride. Let's see: He's a cosplayer. He's telepathic. He speaks to dogs, both dead and alive ones. He speaks to dead people, too, including Ayn Rand. He has seen the resurrection of Christ three times, but he can't talk about it. He met a lion, as a gladiator in the Roman Colosseum 2,000 years ago.

Good luck, Argentines.

1: https://en.wikipedia.org/wiki/Javier_Milei

Re:Argentina's New President Wants to Adopt the Dollar as th... by conradfr on Monday November 20, 2023 @11:15AM (#38349954)
Imagine being the other candidates who lost to this man.
Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Monday November 20, 2023 @11:23AM (#38350043)
Their corruption is basically the reason, this guy won at all.

(According to argentinians I know)

Re:Argentina's New President Wants to Adopt the Dollar as th... by snapetom on Monday November 20, 2023 @11:59AM (#38350518)
Argentina had strict lockdowns and in the height of a wave, a picture leaked of the President and his huge family all gathered together for a fancy dinner. My coworkers were furious.

Oh yeah, and Cristina and all her shenanigans.

Re:Argentina's New President Wants to Adopt the Dollar as th... by neuromanser on Monday November 20, 2023 @12:51PM (#38351478)
Like losing to Trump.
Re:Argentina's New President Wants to Adopt the Dollar as th... by hnbad on Monday November 20, 2023 @12:15PM (#38350804)
> He's a cosplayer.

Oh, you mean in addition to being an ancap?

Anarcho-capitalism is a nonsense label to allow libertarians to cosplay as anarchists without having to give up on their positions of power. It seemingly only exists so rich people can be against paying taxes or having to follow laws and regulations while getting to pretend they're revolutionaries "fighting the system".

Re:Argentina's New President Wants to Adopt the Dollar as th... by koolba on Monday November 20, 2023 @11:22AM (#38350032)
> Oh and he would allow the selling of children.

That’s an incredibly bold claim. When did he say that and what was the context?

> If you use the state to enfore strict law on abortion, meaning deciding over other peoples bodies, how will you do so without a state? Or why do so, when you do not want a state at all?

If you consider the top job of government is to protect life, it flows pretty naturally. Just because you personally don’t agree with it does not mean it’s irrational.

Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Monday November 20, 2023 @12:00PM (#38350546)
"That’s an incredibly bold claim. When did he say that and what was the context?"

See Wikipedia:

"In a June 2022 interview, when asked about his stance on the sale of children, Milei initially said that "it depends"

But being a populist, apparently he took that back after some public outcry.

And when you want to abolish the whole state, then it is really not rational to use the state to enforce some radical ideology with the help of the state in my opinion. But I won't discuss forcing a 10 year old rape victim to carry a baby in the name of life here any further.

Re:Argentina's New President Wants to Adopt the Dollar as th... by zpeti on Monday November 20, 2023 @01:10PM (#38351831)
I’m not sure Wikipedia is a good source for what a populist right wing politician said. Wikipedia can be insanely inaccurate on political topics.

I have no idea what milei said, I’m just stating how bad I find Wikipedia sometimes on political topics

Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Monday November 20, 2023 @01:18PM (#38351982)
But they do include sources, so you can check out the original:

https://www.minutoar.com.ar/actualidad/2022/6/29/javier-mile...

Re:Argentina's New President Wants to Adopt the Dollar as th... by koolba on Monday November 20, 2023 @01:33PM (#38352229)
And according to this link that one that you're referencing is fake news: https://www.lanacion.com.ar/lnmas/javier-milei-no-estoy-de-a...
Re:Argentina's New President Wants to Adopt the Dollar as th... by argentinian on Monday November 20, 2023 @05:22PM (#38355750)
Please use as source a reputable newspapers. The fake news campaign to attempt to destroy Milei's reputation was enormous. I wasn't able to watch a youtube video without seeing an anti-milei fear-mongering advertisement in the month before the election.
Re:Argentina's New President Wants to Adopt the Dollar as th... by marcusverus on Monday November 20, 2023 @02:11PM (#38352882)
Wikipedia cites 'latin-american.news', a two-year-old domain with a global website rank of 10,989,423. For comparison, 'thelaundryspot.com', the official website of a laundromat in Austin, TX, has a global rank of 8,737,785.

This might as well be a sourced from the Wikipedia admin's blog.

edit: Lol, in the last hour, the awful source was removed and the ridiculous quote removed. The wiki now reads:

"When questioned on the topic of selling children, Milei initially responded ambiguously [womp womp] but later clarified his opposition, stating, "Obviously, I do not agree with the sale of children.""

Re:Argentina's New President Wants to Adopt the Dollar as th... by koolba on Monday November 20, 2023 @02:21PM (#38353037)
Just getting asked such nonsense is indicative of a media trying to paint a narrative.

The next level of such nonsense would be framing it like, “Do you think both parents should have a say in the sale of children?” or “Would your universal flat tax on the sale of livestock apply to the sale of children?”.

Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Monday November 20, 2023 @02:44PM (#38353425)
But you are aware, there are anarchocapitalists that would allow selling children? So even if that quote is wrong(so far I have not found the original radio interview confirming or negating it), it is not a weird question(especially given his other statements). And the answer could just be "no". No narrative painting in my point of view. But I lack the original transcript.
Re:Argentina's New President Wants to Adopt the Dollar as th... by marcusverus on Saturday November 25, 2023 @01:50PM (#38415537)
I agree 100%
Re:Argentina's New President Wants to Adopt the Dollar as th... by JAlexoid on Monday November 20, 2023 @03:31PM (#38354234)
> The global population growth rate is going to stall

Did you bother reading the part of "do not want a state at all"... this includes "no government" at all.

The irrational part is that enforcing something using government is impossible without government.

Re:Argentina's New President Wants to Adopt the Dollar as th... by giraffe_lady on Monday November 20, 2023 @11:26AM (#38350060)
Selling children is completely consistent with honest anarchocapitalism. Absolutely fucked ideology.
Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Monday November 20, 2023 @12:03PM (#38350580)
Depends. It is not a single coherent ideology. Most anarchocapitalists regard property and property of ones own body to be sacred. That would disallow selling children as you cannot own them in the first place. They own themself.
Re:Argentina's New President Wants to Adopt the Dollar as th... by fluoridation on Monday November 20, 2023 @12:35PM (#38351204)
That would mean you can't sell children as slaves or meat, but not that you can't sell custody of children.
Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Monday November 20, 2023 @12:44PM (#38351357)
Good observation, but depending on the type of anarchocapitalists we are talking about, there might not be such a thing as custody.
Re:Argentina's New President Wants to Adopt the Dollar as th... by marcusverus on Monday November 20, 2023 @01:09PM (#38351810)
When is the last time you saw a "think of the kids" argument offered in good faith? I honestly can't remember. Anarcho-capitalists' ideal is a "consent society", free from coercion (state or otherwise). Children cannot meaningfully consent and thus selling them is not "consistent" with anarcho-capitalism.
Re:Argentina's New President Wants to Adopt the Dollar as th... by giraffe_lady on Monday November 20, 2023 @01:38PM (#38352324)
> When is the last time you saw a "think of the kids" argument offered in good faith?

Right there, when I made one?

But no, what you're claiming doesn't align with other proponents of the ideology I've seen. They are only opposed to state coercion, but market pressures can certainly be coercive and they don't resist that.

And by what mechanism would anarcho-capitalists prevent the selling of children or child labor? They don't hold that the state has such a power. Children also don't consent to be even their parents' wards, so the consent of children is not a sufficient framework to construct a basis of opposition.

Markets don't have the will to decline child exploitation and anarcho-capitalism doesn't invest an entity with the power to prevent it. Individuals may honestly say they don't want it but the system offers nothing to resist the incentives that will cause it.

Re:Argentina's New President Wants to Adopt the Dollar as th... by marcusverus on Monday November 20, 2023 @04:38PM (#38355226)
> They are only opposed to state coercion, but market pressures can certainly be coercive and they don't resist that.

Market pressures aren't coercion, they're called incentives.

> And by what mechanism would anarcho-capitalists prevent the selling of children or child labor? They don't hold that the state has such a power.

Anarcho-capitalism has never been put into practice, so the specifics are speculative. Just as the specifics of a functioning democratic republic were speculative until the theory was put into practice.

Right now, the government has a monopoly on "justice". If you have a criminal or civil case before the courts, your case is judged according to the "common law", by a state-selected "common judge". In anarcho-capitalism, both the law and the judge would be optional. You choose your law and your judge, I choose mine, and they get together and figure out the case. "Judicial services" organizations interact and cut deals with each other all the time--the only difference is that, right now, they're all run by governments.

This begs the question of good faith (I could just say "my judge is me, and my law is that I do whatever the fuck that I want", but the incentives of such a choice don't make sense. If I murder you, who would provide justice? Thus everyone is incentivized to pay for, one way or another "judicial services", such that if you need them, they are able to come to your aid. This sounds ridiculous on its face, but if you actually think about it, it makes plenty of sense. We pay ~30% of our incomes in taxes in the US, and only a vanishingly small proportion goes to pay for government-monopolized "judicial services". It would likely be pretty cheap--just do the math on how much of your taxes go to paying for the judicial system.

But wait! All that would need to happen to enable child slavery would be for someone to form a legal-services corporation which would not view this as a crime! Sure, but for such a corporation to actually function, they would have to be viewed as legitimate by other legal-services corporations. Can you imagine GEIKO judicial services doing business with an organization that's on the record enabling child slavery? Neither can I.

Thus, if you sold a child into slavery, that child would naturally have a case against you, as you sold something that didn't belong to you and did them tremendous damage.

It's worth remembering that, while such a system might be imperfect, the current system is far from perfect. As with everything else, the state is pretty shit at preventing children from being bought and sold.

> The Children also don't consent to be even their parents' wards, so the consent of children is not a sufficient framework to construct a basis of opposition.

Children don't pick their parents, ergo consent isn't a thing? I don't buy it, and by golly, my legal-services corp won't stand for it!

> Markets don't have the will to decline child exploitation.

Markets have the will to fire people for racist tweets, but not to fight child exploitation?

> and anarcho-capitalism doesn't invest an entity with the power to prevent it.

Yes it does, as mentioned above.

Re:Argentina's New President Wants to Adopt the Dollar as th... by giraffe_lady on Monday November 20, 2023 @05:02PM (#38355545)
The boundaries between "incentive" and "coercion" are mostly a matter of viewpoint and I can tell that we would certainly disagree on them so we can just skip past all that.

> Can you imagine GEIKO judicial services doing business with an organization that's on the record enabling child slavery?

I absolutely can! Nestle is known to have practiced child slavery and people did and do business with them. Cobalt mines in Congo, south african countries during apartheid, etc. I have known all kinds of horrors in service of the capitalism we have now and nothing you're saying is persuasive to me about why they would stop under this other, more extreme capitalism.

Re:Argentina's New President Wants to Adopt the Dollar as th... by marcusverus on Tuesday November 21, 2023 @06:19PM (#38372006)
> The boundaries between "incentive" and "coercion" are mostly a matter of viewpoint

No, they're not. (you're right we should probably skip that!)

> Nestle is known to have practiced child slavery and people did and do business with them.

You're referring to activities in other countries, all outside of the jurisdiction of any "judicial service", be it the US government or otherwise. Why would "judicial services corporations" in an anarcho-capitalist society be expected to address and/or stop evils outside of their jurisdiction, which states are not expected to stop?

> Cobalt mines in Congo, South African countries during apartheid, etc. I have known all kinds of horrors in service of the capitalism we have now and nothing you're saying is persuasive to me about why they would stop under this other, more extreme capitalism.

Mining isn't unique to capitalism. At least in capitalism, you have the option to not patronize unpalatable organizations, which is not the case in any alternative system. And, as you well know, Apartheid, much like Slavery and later Jim Crow in the American South, was imposed via the state's police power. Such systems would be impossible in an anarcho-capitalist society.

> I have known all kinds of horrors in service of the capitalism

This is a joke, right? Capitalism has lifted a billion people out of absolute poverty in the last 30 years, and would have done so 50 years earlier (as evidenced in the natural experiments in Taiwan/China, South/North Korea, and West/East Germany) if it weren't for big-hearted, empty-headed dolts and their irrational, uninformed hatred for capitalism. Leftists killed 100,000,000 million people to prolong their anti-capitalist experiments, with nothing to show for it. More heavy-handed state intervention isn't going to out-do capitalism. The only way to improve capitalism is to free it from the yoke of the state, free it from politicians and grifting bureaucrats, and to let the people run their own lives.

I can tell you have strong opinions about how society should function. Have you considered the possibility that you would be more empowered to improve people's lives in the absence of government? You, and everyone who thinks like you, would have 30% of your income back to plug into whatever social causes you'd want to support. The best part, of course, would be that you wouldn't have to win an election to see your preferred changes come into being--you'd just have to organize and implement your programs without coercion. And don't forget the best part--there's no coercion, ever, by those people who scare the shit out of you! There's no state schools indoctrinating your kids! No monopolies being bought by mega-corp lobbyists! No religious dogma enshrined in law!

I'm also convinced that a lot of the problems people fear ("there will be people starving in the streets!") will not only be easily solved, but we will be better for having the opportunity to solve them. How many old folks are sitting around in their homes feeling useless, who could be running the voluntary welfare societies that used to be so prevalent in the United States? How many families have been spread to the four winds because the nanny state has replaced family support networks? How many men and women are desperate for meaningful work, which has been forcibly relegated to a calcified network of ineffectual bureaucrats who couldn't care less? As Scalia said, the welfare state has given us "donors without love and recipients without gratitude". By removing the state as a faceless intermediary, the urgent need for charity would not be deniable by those who hate paying taxes, and the tremendous blessing that is charity will replace the rampant sense of entitlement to other people's money. Without politicians who are incentivized to drive us apart, social cohesion would greatly improve. We would better understand that we're not opponents in some contrived power for control, we're neighbors who have a very personal duty to help each other get by.

This is why it drives me nuts to hear folks dismiss libertarianism or anarcho-capitalism with assumptions of bad-faith, or accusations of "just being rich people who want to keep their money". It is a recipe for human flourishing. It is imperfect, of course, but better to have an imperfect system based on the ideal of maximum human freedom for all rather than one based on the principle of the minority being forced into the service of the majority.

Re:Argentina's New President Wants to Adopt the Dollar as th... by giraffe_lady on Wednesday November 22, 2023 @11:23AM (#38381292)
Yeah man I have considered the no government thing which is why I am an anarchist. An actual one, not one that wants to replace the existing systems of state power with the even less restrained systems of capital power.
Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Thursday November 23, 2023 @10:58AM (#38394151)
Have you as a real anarchist also thought about how to do things, when no one has political power, but decisions need to be made?

Say, taking over a factory requires real power, no? How to deal with people who object (like the current owners)? Using force is power by my definition. And if it all is spontaneus with nor formal powet structure, then it still comes close or equals rule of the strong by my experience. And I think I read and debated all or most of the theories of anarchism with various people, but this contradiction, I could not get satisfactory answers for to solve it.

Re:Argentina's New President Wants to Adopt the Dollar as th... by The_Colonel on Monday November 20, 2023 @12:37PM (#38351230)
Anarcho-capitalism provides suitable conditions for strongmen, religious leaders, little feudal lords to impose their views on the less powerful, so I don't necessarily view a contradiction.
Re:Argentina's New President Wants to Adopt the Dollar as th... by buzzert on Monday November 20, 2023 @03:06PM (#38353806)
> strongmen, religious leaders, little feudal lords to impose their views on the less powerful

Can you explain how this is different than a government?

Re:Argentina's New President Wants to Adopt the Dollar as th... by JAlexoid on Monday November 20, 2023 @03:27PM (#38354157)
It's not. Ancapistan is basically a small scale absolute monarchy.
Re:Argentina's New President Wants to Adopt the Dollar as th... by The_Colonel on Monday November 20, 2023 @06:58PM (#38356798)
The lords are smaller scale, have more of an absolute power, not bound by things like laws and such.

To me, it seems like a repeat of history, we had an anarcho-capitalist society already, but people started to self-organize into larger groups with rules, tradition, processes ⇾ states.

Re:Argentina's New President Wants to Adopt the Dollar as th... by johngladtj on Tuesday November 21, 2023 @03:38AM (#38361013)
Smaller in scale yet more absolute power? Do you think a large and powerful government has less power than a local feudal lord??
Re:Argentina's New President Wants to Adopt the Dollar as th... by The_Colonel on Tuesday November 21, 2023 @05:12AM (#38361707)
Yes, large governments have less power over an individual. The president / prime minister can't decide that I deserve to be executed for a traffic offense.

A small feudal lord has fewer subjects, but also fewer (no) limits. Nothing preventing him from killing you without repercussions on a whim.

Re:Argentina's New President Wants to Adopt the Dollar as th... by johngladtj on Tuesday November 21, 2023 @07:40AM (#38362851)
You stance does not bear out in reality I'm afraid.
Re:Argentina's New President Wants to Adopt the Dollar as th... by s08148692 on Monday November 20, 2023 @10:40AM (#38349572)
From the few interviews I've watched, he seems like a real life manifestation of an Ayn Rand hero character. I doubt he has any public sector or welfare in his plans
Re:Argentina's New President Wants to Adopt the Dollar as th... by ursuscamp on Monday November 20, 2023 @11:14AM (#38349930)
Ayn Rand heroes are all sophisticated, educated artists and artisans. This man is more like a psychotic Ron Paul (I say this with some affection). He's an anarchist and very Austrian in his economics affiliation. Definitely not an affiliation that Objectivists favored at all.
Re:Argentina's New President Wants to Adopt the Dollar as th... by hnbad on Monday November 20, 2023 @12:25PM (#38351010)
He's not an anarchist. The creator of the mislabel "anarchocapitalism" was himself an Ayn Rand fan until she basically told him he wasn't an anarchist and he decided to take that personally. Anarchism is the abolition of hierarchical systems of power. "Anarchocapitalism" only refers to the abolition of the state while maintaining all other hierarchical systems and capitalism in particular.

You can not enforce property claims without violence. "Anarchocapitalists" either handwave this with private armies (which is just feudalism with extra steps) or insist on everyone following the Non-Aggression Principle, which is nonsense without a system of enforcement. The more honest types usually fall back to minarchy, i.e. having a small state that basically only consists of a legal system and police force to enforce property claims and resolve disputes.

Heck, the person who came up with the name opposed not only taxes but also the civil rights movement and universal suffrage. The only coherent ideological thread in his life was not wanting to pay taxes, not wanting to have to follow regulations and being convinced he was very smart.

Re:Argentina's New President Wants to Adopt the Dollar as th... by ursuscamp on Monday November 20, 2023 @02:03PM (#38352760)
I'm well aware of the argument that left-wing anarchists make that anarcho-capitalism isn't real anarchism. As per usual, only left-wing anarchists care about this semantic argument. Anarcho-capitalists keep using that term, and 99.9% of the rest of world doesn't know, and wouldn't care even if you explained your point of view to them.

Also, is Murray Rothbard like Voldemort to you? You seem to refuse to even say his name.

Re:Argentina's New President Wants to Adopt the Dollar as th... by JAlexoid on Monday November 20, 2023 @03:39PM (#38354350)
AnCap ideology is flaky at best. Effectively there's little difference between different anarchist utopias.

In all cases it's explicitly community driven, because no claim on on property can withstand disagreement with the local community.

Take land ownership - it's de facto not enforceable without either government or communal support.

Re:Argentina's New President Wants to Adopt the Dollar as th... by hnbad on Thursday November 23, 2023 @06:01AM (#38391523)
Most people on HN likely don't know who Murray Rothbard is and he didn't have any coherent ideology or philosophy so he's not interesting beyond being the guy who came up with the label.

Anarchism is by definition "left-wing". If flat earthers redefined "globe" to mean a saucer shaped object and the media started to run with that because flat earthers made for "good content", opposing that usage wouldn't be dismissed as "arguing semantics" either. Sometimes it's important that words mean things. Heck, the entire political right in the US has spent the past years making the changing meanings of words their main issue. Clearly "arguing semantics" matters sometimes.

Calling yourself "anarcho-capitalist" is like calling yourself "punk" because you're knee-deep in Sex Pistols merch. It's using a label as a fashion accessory, not a political statement. Clearly you think political labels have some use or else you wouldn't refer to "left-wing" anarchists.

There's no historical basis for the label "anarcho-capitalism". Ancaps claim they're building on individualist anarchism if asked to justify their label but even Stirner was to the left of them. "Anarcho-capitalism" isn't promoting individualist anarchism, it's promoting autocracy. Anarchism is the absence of oppression and power hierarchies, "anarcho-capitalism" is the absence of regulations and limitations on individual power, relying on The Market instead of Divine Right as a justifying cause.

"Anarcho-capitalism" is not only not "real anarchism", it's not any anarchism, just like throwing bricks at Starbucks windows is neither necessary nor sufficient (i.e. almost entirely orthogonal) for being an anarchist.

Re:Argentina's New President Wants to Adopt the Dollar as th... by codetrotter on Monday November 20, 2023 @09:41AM (#38348944)
The people should choose Bitcoin.
Re:Argentina's New President Wants to Adopt the Dollar as th... by wvlia5 on Monday November 20, 2023 @09:47AM (#38349034)
I agree
Re:Argentina's New President Wants to Adopt the Dollar as th... by miroljub on Monday November 20, 2023 @09:51AM (#38349088)
... and pay 5-10 $ fee per transaction? I doubt it.
Re:Argentina's New President Wants to Adopt the Dollar as th... by ForkMeOnTinder on Monday November 20, 2023 @10:29AM (#38349472)
Right now the median fee on lightning is $0.000226047.

https://1ml.com/statistics

Re:Argentina's New President Wants to Adopt the Dollar as th... by miroljub on Monday November 20, 2023 @11:42AM (#38350265)
Next question: where can I get Lightning banknotes for offline payments?
Re:Argentina's New President Wants to Adopt the Dollar as th... by alskfdjaksldjf on Monday November 20, 2023 @11:57AM (#38350485)
You say that like any argentinian would walk around with money or any valuable after he abolishes the police.
Re:Argentina's New President Wants to Adopt the Dollar as th... by miroljub on Thursday November 23, 2023 @09:15AM (#38392973)
You are aware people have been carried valuable items with them long before the invention of police?
Re:Argentina's New President Wants to Adopt the Dollar as th... by alphager on Monday November 20, 2023 @12:57PM (#38351601)
Lightning is not a solution, as it requires buying into a channel and not getting your coins until the channel closes.
Re:Argentina's New President Wants to Adopt the Dollar as th... by charlieyu1 on Monday November 20, 2023 @10:15AM (#38349358)
You can always use level 2s for small transcations.
Re:Argentina's New President Wants to Adopt the Dollar as th... by hoffs on Monday November 20, 2023 @10:30AM (#38349486)
Sounds like a fun time waiting for transaction to process in the shop
Re:Argentina's New President Wants to Adopt the Dollar as th... by johndunne on Monday November 20, 2023 @10:24AM (#38349429)
And potentially wait many multiples of 10 minutes if the mempool is full, making it potentially useless.
Re:Argentina's New President Wants to Adopt the Dollar as th... by pcdoodle on Monday November 20, 2023 @10:57AM (#38349749)
Lightning doesn't require waiting. Block time is not relevant unless you're sending a very large amount of money.
Re:Argentina's New President Wants to Adopt the Dollar as th... by wslh on Monday November 20, 2023 @10:39AM (#38349566)
I would say Tether based on the exchanges.
Re:Argentina's New President Wants to Adopt the Dollar as th... by wslh on Monday November 20, 2023 @10:59AM (#38349770)
The reality in Argentina shows that exchange houses prefer Tether over Tron. This is not an endorsement to USDT, just the reality. They will look at cryptocurrencies with high liquidity and low fees.
Re:Argentina's New President Wants to Adopt the Dollar as th... by quelsolaar on Monday November 20, 2023 @09:43AM (#38348990)
Great plan. Ill choose to pay my taxes to Hayek in Monopoly money.
[dead]
Re:Argentina's New President Wants to Adopt the Dollar as th... by hutzlibu on Monday November 20, 2023 @10:29AM (#38349470)
His point is, as long as there is a government, the government has to choose some official currency to collect taxes in and pay their employes etc.
Re:Argentina's New President Wants to Adopt the Dollar as th... by argentinian on Monday November 20, 2023 @05:16PM (#38355689)
Yes, and that money needs to have a certain value.
Re:Argentina's New President Wants to Adopt the Dollar as th... by aflag on Monday November 20, 2023 @11:32AM (#38350152)
Beware when buying argentinian bonds, they may pay you back in the same way.
Re:Argentina's New President Wants to Adopt the Dollar as th... by api on Monday November 20, 2023 @09:54AM (#38349127)
Scammers will descend on Argentina and loot the entire economy.

Libertarians, like Marxists, are terribly naive about the prevalence and maliciousness of psychopaths and hustlers. The global economy is a dark forest.

Re:Argentina's New President Wants to Adopt the Dollar as th... by fidotron on Monday November 20, 2023 @10:24AM (#38349435)
The whole thesis of this guy, and history shows it has serious merit, is in Argentina the government is the scam. What he is trying to do is remove the amount of scope that exists for grift and corruption in the Argentine state.

I wish him good luck, sincerely, but if it looks like it works a lot of other countries will start going to great lengths to mess it up.

Re:Argentina's New President Wants to Adopt the Dollar as th... by cool_dude85 on Monday November 20, 2023 @10:40AM (#38349569)
>and history shows it has serious merit

Oh word? Where has this worked in the past?

Re:Argentina's New President Wants to Adopt the Dollar as th... by hotdogscout on Monday November 20, 2023 @11:43AM (#38350278)
Re:Argentina's New President Wants to Adopt the Dollar as th... by Daishiman on Monday November 20, 2023 @12:56PM (#38351590)
Ecuador has not had significant economic growth in a decade and is currenlty a narco-state.
Re:Argentina's New President Wants to Adopt the Dollar as th... by kergonath on Monday November 20, 2023 @10:53AM (#38349708)
> Libertarians, like Marxists, are terribly naive about the prevalence and maliciousness of psychopaths and hustlers.

From my experience it’s worse than that. Some are idealists as you mention, but a lot of them plan or hope that they will be doing the hustling.

Re:Argentina's New President Wants to Adopt the Dollar as th... by Turing_Machine on Monday November 20, 2023 @12:28PM (#38351074)
> Scammers will descend on Argentina and loot the entire economy.

Too late. That already happened a long time ago.

I remember an Argentinian friend telling me of a time when she and her coworkers would get paid and they'd all immediately leave work to spend their money before the prices went up. Waiting until the end of the day meant taking a significant haircut.

Re:Argentina's New President Wants to Adopt the Dollar as th... by mypastself on Monday November 20, 2023 @12:50PM (#38351461)
> The global economy is a dark forest.

What do you mean by this?

Re:Argentina's New President Wants to Adopt the Dollar as th... by bragr on Monday November 20, 2023 @09:55AM (#38349146)
If you use Zimbabwe as a model, it will probably be dollars plus a basket of regional currencies. A lot of South African Rand circulates in Zimbabwe so you might see a lot of Brazilian Reals, not to mention Pesos from other countries.
Re:Argentina's New President Wants to Adopt the Dollar as th... by jgtrosh on Monday November 20, 2023 @10:17AM (#38349373)
You already see a lot of USD, euros, and Brazilian Reals in Argentina (especially avenida Florida of course)
Re:Argentina's New President Wants to Adopt the Dollar as th... by mytailorisrich on Monday November 20, 2023 @09:59AM (#38349192)
Legal tender means a currency that has to be accepted when tendered to settle a debt.

So in practice it is very inconvenient not to have one and to be able to refuse anything you want or to have to accept anything. The workaround is to have a contractual clause that specifies exactly how a debt may be discharged.

Re:Argentina's New President Wants to Adopt the Dollar as th... by mnw21cam on Monday November 20, 2023 @11:34AM (#38350182)
Legal tender has an even narrower definition in some countries. For instance, in the UK, legal tender is the currency that has to be accepted by a court of law when a debt is to be paid to them. In all other cases, for instance if there is a debt to a private individual or a company, then the law has nothing to say. Mostly we get by on the "Oh, don't be ridiculous" principle.
Re:Argentina's New President Wants to Adopt the Dollar as th... by mytailorisrich on Monday November 20, 2023 @12:04PM (#38350598)
That's actually very important and why it exists: It ensures a way to settle debts. "Oh don't be ridiculous" has very little weight in money and debts disputes.

In the case you mention this is called "defence of tender before claim". It means the person offered to the money but that was refused, so they go and pay it into court to protect themselves. In effect it means that if someone offers to settle in legal tender and is refused, then follow that legal procedure, then the creditor cannot do anything anymore expect recovering the money from the court.

Re:Argentina's New President Wants to Adopt the Dollar as th... by Turing_Machine on Monday November 20, 2023 @12:27PM (#38351052)
I've heard that at one time, a merchant in (say) England might refuse a pound note from (say) Scotland, as they are technically separate countries.

Is that still the case?

Re:Argentina's New President Wants to Adopt the Dollar as th... by weissbier on Monday November 20, 2023 @01:35PM (#38352267)
It actually happened to me once, when I was in London dining in a restaurant. I wanted to pay in cash that I withdrew in Scotland and the lady did decline the money I gave her. Pretty wild for me as a German doing a little trip through the UK.
Re:Argentina's New President Wants to Adopt the Dollar as th... by xxs on Tuesday November 21, 2023 @04:49AM (#38361550)
> I wanted to pay in cash... me as a German

Very German thing to do, yet in the UK I have not had a need to pay in cash, just use your card (or phone/watch if you are into that). Dunno if it was the money type, or just not want to be dealing with cash per se.

Re:Argentina's New President Wants to Adopt the Dollar as th... by mnw21cam on Tuesday November 21, 2023 @04:10AM (#38361245)
No, that'd never happen, but only because there's no such thing as a single pound note any more.
Re:Argentina's New President Wants to Adopt the Dollar as th... by xxs on Tuesday November 21, 2023 @04:54AM (#38361585)
A wonder if a pound note actually meant a single pound (or just pound type, e.g. £5). It's a genuine question how it would be perceived in the UK, esp. when spoken by non Brit/Irish person.
Re:Argentina's New President Wants to Adopt the Dollar as th... by dkjaudyeqooe on Monday November 20, 2023 @10:41AM (#38349584)
You're now the guinea pigs in a very large scale experiment.

Good luck.

Re:Argentina's New President Wants to Adopt the Dollar as th... by netbioserror on Monday November 20, 2023 @10:50AM (#38349682)
Compared to the well-worn disaster experiment they've been running for decades with such innovative ideas as rampant money-printing and promising social welfare while delivering poverty and suffering, I'm sure any other direction they go is up, comparatively.
Re:Argentina's New President Wants to Adopt the Dollar as th... by dkjaudyeqooe on Monday November 20, 2023 @12:44PM (#38351368)
Clearly, that's why they're so eager to participate.
Re:Argentina's New President Wants to Adopt the Dollar as th... by netbioserror on Monday November 20, 2023 @01:41PM (#38352368)
Dripping with malicious sarcasm. Are you saying this election doesn't at all represent the popular will? You refuse to defend Argentinian democracy?
Re:Argentina's New President Wants to Adopt the Dollar as th... by dkjaudyeqooe on Monday November 20, 2023 @01:53PM (#38352592)
Your brain is dripping with paranoia. No sarcasm intended whatsoever.

I don't buy into the attendant far right libertarian whackjobbery, so not sure the new president is the answer to anything, but clearly if things have been so bad for so long, especially with the same hard left ideas one that have historically shown to end in the same place over and over again, radical change in the opposite direction looks very attractive.

And it might off in spades, if not pursued in the same stupid ideological manner as the socialists, but it's high risk. I hope it pays off for them bigtime. I'm not wedded to any ideology, unlike some.

Re:Argentina's New President Wants to Adopt the Dollar as th... by netbioserror on Monday November 20, 2023 @02:08PM (#38352839)
Text is not tone, especially in a hellhole like this. It's not paranoia if the pattern is 90+%. But you're in a mighty comfy position that high up on the fence, so don't let me lecture you.
Re:Argentina's New President Wants to Adopt the Dollar as th... by Daishiman on Monday November 20, 2023 @12:56PM (#38351580)
The "well-worn disaster" has the highest rate of English speakers, largest middle class, and largest industrial base of similar countries in Latin America.

This will simply regress Argentina to the mean of the poor, deinstruialized, primary resource exporting countries of the rest of Latam.

Re:Argentina's New President Wants to Adopt the Dollar as th... by netbioserror on Monday November 20, 2023 @01:39PM (#38352345)
The mean in South America is dialing the same crap policies to 11. With 4 in 10 Argentines in poverty and 140% inflation, you are making an incredibly poor case for...I don't know, defending the status quo? Advocating for ratcheting up the previous policies? It sounds clinically insane either way.
Re:Argentina's New President Wants to Adopt the Dollar as th... by isaacremuant on Monday November 20, 2023 @02:23PM (#38353073)
Useless statistics displayed out of pure ignorance because you, like most people here, don't live there, haven't lived there and have no knowledge of the history or political context.

I wish you could do even a hint of research to spew this pathetic apologia.

Re:Argentina's New President Wants to Adopt the Dollar as th... by Daishiman on Monday November 20, 2023 @05:48PM (#38356033)
I live here and I've traveled to all over Latin America. I have a _much_ better clue of what I'm talking about. There is hardly a middle class in Peru, Ecuador, and Colombia. The mean standard of living in Chile is similar but with no less middle class, more rich, and more poor.

Now the middle class in this country will get to see to what extend their sustenance was being managed through wealth transfers.

Re:Argentina's New President Wants to Adopt the Dollar as th... by isaacremuant on Friday November 24, 2023 @07:36AM (#38403346)
There's practically no middle class. You're probably very privileged and confusing your own comfortable privilege with the lives of actual workers.

140% inflation, currency controls, 16 years of K government destroying institutions and you want to come at me with the "lots of English speakers", now things are gonna be worse.

Mate, people emigrate from Argentina to the rest of LATAM, not viceversa (unless you earn in USD).

The fact that you're pretending people live better here and you're just trying to make it about class shows how little perspective you have. Speaking for "the People" right?

Re:Argentina's New President Wants to Adopt the Dollar as th... by Daishiman on Friday November 24, 2023 @12:08PM (#38405992)
Net migration rate into Argentina is _positive_.

If you really think there is no middle class in Argentina, seriously, you need to travel around more, what can I say.

Re:Argentina's New President Wants to Adopt the Dollar as th... by htrp on Monday November 20, 2023 @10:50AM (#38349669)
> Many people will choose the dollar.

Do you know any argentines who wouldn't choose the dollar as the currency of choice?

Re:Argentina's New President Wants to Adopt the Dollar as th... by papichulo2023 on Monday November 20, 2023 @12:04PM (#38350604)
People working remotely for EU o travel there often?
Re:Argentina's New President Wants to Adopt the Dollar as th... by thinkingtoilet on Monday November 20, 2023 @11:06AM (#38349846)
>This is the fulfillment of Hayek dream of stripping control of the currency from the state.

Choosing the dollar isn't "stripping control" from the state, it's giving it to a sovereign state that doesn't have your interests in mind. Given the current situation it may be better, but lets stay in reality here.

Re:Argentina's New President Wants to Adopt the Dollar as th... by marcusverus on Monday November 20, 2023 @12:00PM (#38350530)
> Choosing the dollar isn't "stripping control" from the state

Until now, the government of Argentina has abused its currency monopoly by printing money, with devastating consequences. Inflation is approaching 150% per year. By "We'll abolish legal tender, stripping control from the state", GP means "We'll abolish legal tender, eliminating the government's currency monopoly and allowing the people to choose a sound currency." This is, by definition, "stripping control from the state", where "the state" obviously refers to the Argentine government.

> it's giving it to a sovereign state that doesn't have your interests in mind.

This would be true if the Argentine government was imposing the dollar as legal tender, but they're not. They're allowing the people their choice of currency. For now, that may well be the dollar. But if the US government begins to abuse the dollar (via inflationary policies, for example), dollars will lose favor and a more sound currency will take its place.

This also prevents the Argentine government from steering their economy with monetary policy, but Libertarians view this as a feature rather than a bug.

Re:Argentina's New President Wants to Adopt the Dollar as th... by onlyrealcuzzo on Monday November 20, 2023 @12:13PM (#38350771)
> Until now, the government of Argentina has abused its currency monopoly by printing money, with devastating consequences.

With devastating consequences for the middle class.

It's printing money to keep entitlements for the poor and to keep the rich from paying for those entitlements (more than they already are).

Does Argentina even have a middle class anymore?

I was looking at wealth inequality - and to be in the top 10% in Argentina - you need barely more than $100k.

It seems like, historically, a decent chunk of the top 10% wouldn't even count as middle class in Argentina right now.

Re:Argentina's New President Wants to Adopt the Dollar as th... by wvlia5 on Monday November 20, 2023 @11:10AM (#38349893)
That's why we won't have legal tender for dollar either.
Re:Argentina's New President Wants to Adopt the Dollar as th... by alskfdjaksldjf on Monday November 20, 2023 @11:53AM (#38350396)
Go on. Continue this line of reasoning. I think a couple steps down you will understand the comment you are replying to.
Re:Argentina's New President Wants to Adopt the Dollar as th... by snapetom on Monday November 20, 2023 @11:54AM (#38350428)
I’m by no means an expert in Argentina nor its currency. However, don’t many Argentinians who work for US/European firms already get paid in USD?

A few years ago, I managed a team of developers and analysts. They were all paid in USD through a shell company, if you will. Everyone expected this. The first question new recruiting firms asked us was, “You will be paying in USD, correct?”

We had one guy who had to be paid 50% in ARS because he had child support obligations, and it was a headache. Not because of the split on our side, but for the shell company. He was actually the lone ARS exception employee to be paid in ARS

Re:Argentina's New President Wants to Adopt the Dollar as th... by pinkpanther12 on Monday November 20, 2023 @12:40PM (#38351277)
The amount of Argentines who live in Argentina who get paid in dollars is ridiculously small, so small that I'd bet it's statistically insignificant. You're talking about an edge case - developers and analysts, of those developers and analysts, ones that are skilled enough (in their trade and in the english language) to work abroad, and lucky enough to get sought-after remote positions. There's also a very small number of people who are paid in a cryptocurrency tethered to the US dollar.

However, remember that the vast majority of Argentines are paid in pesos. Even with salary adjustments, the vast majority of Argentine salaries cannot keep up with triple digit inflation. Bank accounts have a minimum of double digit interest rates and your money still loses value in relation to inflation. This is a large part of why the poverty rate has increased from a little under a third of the country to over 40% of the country.

Re:Argentina's New President Wants to Adopt the Dollar as th... by fluoridation on Monday November 20, 2023 @12:09PM (#38350700)
I'm not sure what you're getting at. The number of people who work directly for someone abroad and are paid in a foreign currency is practically insignificant.
Re:Argentina's New President Wants to Adopt the Dollar as th... by snapetom on Monday November 20, 2023 @03:18PM (#38354028)
The point was that there is already a bustling black market in Argentina not only for USD, but EUR and Crypto.

https://devonzuegel.com/post/inside-argentina-s-currency-exc...

In cybersec, the Argentinian scene is also one of the hottest producers of zero-day vulnerabilities. Those get paid in crypto, which is then washed to USD/EUR locally.

Re:Argentina's New President Wants to Adopt the Dollar as th... by fluoridation on Monday November 20, 2023 @03:34PM (#38354278)
Sure, but so what. The vast, vast majority of Argentinians are paid in pesos and can't save.
Re:Argentina's New President Wants to Adopt the Dollar as th... by apienx on Monday November 20, 2023 @12:28PM (#38351075)
“I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop.“ - Hayek
Re:Argentina's New President Wants to Adopt the Dollar as th... by JAlexoid on Monday November 20, 2023 @03:16PM (#38353996)
Nothing of that kind is going to happen. There's just no support for that.