Hypothetical investment case in Argentina

There are 20 replies in this Thread which has previously been viewed 2,906 times. The latest Post (May 1, 2023 at 10:20 PM) was by FScott.

    If you had 250,000 dollars to spend right now in Argentina what would you do?

    Find a way of getting the cash out and sent to USA or Europe

    Buy a property

    Go on vacation

    Spend it

    Any other ideas?

    If there is a safe way to get cash out, that would be my #1.

    But buying a property is the traditional, time-honored way. And inflation is suddenly a factor in the US, too, so cash isn’t the best vehicle right now.

    Quote from serafina

    I would go on vacation to spend the money to buy a property... abroad. :yay:

    Well we have talked about doing that in the future and spread our time between here and the UK. However with the number of pets we have plus the MIL it would be impossible. It would have to be a permanent move or not at all. Fun to talk about but I honestly can't see us doing it.

    Still waiting to hear on what you would do GJ? :popcorn:

    This post was actually about me. I managed to sell a property in Spain that hadnt moved for 5 years . So we got a bit of cash we didnt expect at all.

    Finally we decided to invest ina new poperty in Argentina.

    We bought a house in the same barrio cerrado where we had been renting for three years. . We got a great deal and closed substantially below the original asking price.

    We based our decision on that we are unlikley to move anywhere until GlasgowJohn Jr finishes. secondary school.

    He is happy at the school he goes to which is 1.5 kms away from the house.

    I have golf 1.5 kms away from the house.

    And the big boss has a gym she likes 1km away from the house.

    We also have an elderly mother in law - if we moved abroad she would accuse us of alienating her from her only grandchild.

    In spite of Argentina being an absolute mess, we actually like living here . Certainly we could not afford the house we bought anywhere else.

    Life goes on and we now have a place we actually like to live in. We moved in about a month ago and have finally got rifd of the cardboard boxes.

    I might actually be forced to light the BBQ at the weeeknd....

    Exchange to pesos, doubling your buying pwer.

    Buy crypto in pesos.

    Store in ‘cold wallet’

    Sell crypto in dollars.

    You now have roughly $500,000 in usd

    FScott , in this and another thread, you have expressed confidence in cryptocurrency. Recent events have cast doubt on its stability. How is it that you are still confident that it couldn’t prove disastrous?

    Quote from Rice

    FScott , in this and another thread, you have expressed confidence in cryptocurrency. Recent events have cast doubt on its stability. How is it that you are still confident that it couldn’t prove disastrous?

    I take the long view. The basis of crypto is a finite supply of a commodity (at least in bitcoin’s case). Second, as in my one case, it is easily transportable. I use a cold storage device so it is protected and transportable.

    Over time a limited supply commodity will rise in price. Right now crypto is somewhere around 11% of the world’s finance. I have no doubt that will double, triple or more. Even if I am not alive to enjoy it, my children will be.

    I also own a few stocks. Recent events have cast doubts on all of their stability. All investing is a risk. I use several different vehicles.

    The time we are in are turning all our institutions upside down ((Howes Fourth Turning), nothing is stable. In times like this the newest technologies are the safest bet, in my opinion. Crypto, web based (as opposed to brick and mortar based), electric/renewable’s, block chain based, etc.are the growth areas for the future. I actually listen to my adult aged children because they are the consumers now. What they want will grow.

    Btw, I have admired your logo previously! When I was a kid ‘Spy vs Spy’ was one of my favorite comics!

    Edited once, last by FScott: Merged a post created by FScott into this post. (April 30, 2023 at 4:35 PM).

    Quote from Bombonera

    With respect, it really isn’t. If it was I wouldn’t have asked.

    I will watch those resources but it is not an easy challenge to identify legitimate, independent resources that educate objectively and no more, and differentiate them from those with an agenda.

    I’m surprised you missed that salient point.

    Yes, sorry, I seem to not understand your point. Perhaps all I can say is that I have been trading crypto for about five years and am very pleased with my results. And, i am less dependent on fiat currency.

    I am very excited by the crypto opportunities I will begin to explore in Argentina next month.

    Ahh… so a close friend and I became interested way back when crypto first appeared. We read and talked and shared over many years now. He is originally from Australia but now a US citizen. So he has had 2 passports and bank accounts in two countries for a long time. That is significant in crypto because the rules are different in each country about buying, holding and selling.

    My friend is now trading crypto as his main source of income and has done very well.

    I have done less yet still enough to learn and grow. The technology and process has become much streamlined from the beginning stages. We began by just diving in $50 increments. Making mistakes, gaining, losing and learning. My adult children were interested as well and we were all sharing information and experiences.

    my advice to anyone now is to buy a ‘cold storage device for less than $100 to begin. ‘Cold store’ means that your crypto that you buy (of course its really just computer code, no physical ‘coins’) is stored ‘off line’ in the device, like a wall safe that you can carry in your pocket. I use ‘Ledger’ device. My friend uses the ‘Trezor’ device. They work nearly the same.

    Om these new era devices, plus your computer, you can buy or sell directly from the device using a credit or debit card. The purchase is delivered directly to the device and can not be accessed, tampered with or stolen as it is in your pocket. If someone should steal the device, it is passcoded and encrypted. You have what are know as ‘keys’, security words that you store separately that can be used to re-establish your device if it is lost or stolen. Like an iphone back up however much more sophisticated.

    With this in hand, just stick to the top, oldest, best known crypto currencies such as bitcoin, etherium, chainlink (there are several hundred and that is where the speculation comes in). Just move a few dollars or pesos buying and selling directly from your secure device to get the hang of it. There is no middle man to fear. Keep reading, learning and growing.

    Does that help? Perhaps we should start a crypto thread? Others may want t hear how to wade in. Especially now as one of the Argentine presidential candidates is a huge crypto fan himself.

    I watched a documentary on crypto on Netflix and I didn’t understand much. I am very much afraid that it is one of those novelties that once become of public domain, it is too late to really profit from it.

    The only value I see in it (for myself, of course) is that I can use it to receive money without using a banking system when it is on an option in problematic economies, like Argentina or Brazil. I would use it only to receive money from people who have not access to international bank transfers and convert crypto to usd in my bank account.

    I understand this is a very finite view of crypto, but that’s the most comfortable I would be with crypto.

    My sister in law got stolen about 2500 dollars on crypto from a digital wallet, and there is no way to recover them as there is no safety/protection from crypto platforms. I don’t think she uses that offline storage system that FScott is mentioning, as I don’t think we have that in Argentina. She went into crypto on her boyfriend’s advice and was stung bad enough to want out forever.

    There are varying regulations by country. El Salvador is the most advanced at this point.

    The USA is likely to become a ‘follower’ on regulation instead of a leader.

    Crypto is a threat to the sovereignty to all countries fiat currencies because it is basically beyond their ability to control through issuance, volume, etc.

    There is no definitive source of unbiased information. I find you need to read/listen to it all and decide what you believe.

    Thats why I recommend just wading in so that as you listen to new information you will have a basis of understanding.

    The greatest opportunity is at the beginning of the adoption curve.

    Quote from serafina

    I watched a documentary on crypto on Netflix and I didn’t understand much. I am very much afraid that it is one of those novelties that once become of public domain, it is too late to really profit from it.

    The only value I see in it (for myself, of course) is that I can use it to receive money without using a banking system when it is on an option in problematic economies, like Argentina or Brazil. I would use it only to receive money from people who have not access to international bank transfers and convert crypto to usd in my bank account.

    I understand this is a very finite view of crypto, but that’s the most comfortable I would be with crypto.

    My sister in law got stolen about 2500 dollars on crypto from a digital wallet, and there is no way to recover them as there is no safety/protection from crypto platforms. I don’t think she uses that offline storage system that FScott is mentioning, as I don’t think we have that in Argentina. She went into crypto on her boyfriend’s advice and was stung bad enough to want out forever.

    You buy a ‘cold storage’ device on line and it is shipped to you, yes, even in Argentina!

    Hardware Wallet & Cold Wallet - Security for Crypto | Ledger
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    Trezor Hardware Wallet (Official) | Bitcoin & Crypto Security
    The safest cold storage wallets for crypt security and financial independence. Easily use, store, and protect Bitcoins.
    trezor.io

    Edited once, last by FScott: Merged a post created by FScott into this post. Btw, Ledger has released it’s own debit card linked to your crypto account. It’s called the ‘CL” card and is issued with mastercard network. It is only available in the EU so far. With this, you really don’t need a bank. You spend down your cryptocurrency by using the debit card Again, this why there is a lot of disinformation and foot dragging by governments on crypto. You are ‘going around’ their control levers. (May 1, 2023 at 9:58 PM).

    Quote from Bombonera

    If I buy pesos as an investment, I’ve a fair idea of my return in a years’ time. It’s not a stable investment but if I invest $1000 now, I can expect to yield a loss of about $550 next year. I have data to enable me to forecast my likely loss.

    What data are you relying on for your crypto investments?

    First, my own experience over 5 years. Yes, all markets are volatile and I have had losses, as I have had in the stock market. As you point out, even fiat currency can be volatile.

    Sounds to me like you might prefer a class of coins call ‘stable coins’. They are designed to eliminate the volatility . Some are even fully backed by gold.