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[Fiat] Add ARS (Argentinian peso) #55

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Gonbatfire opened this issue May 13, 2022 · 1 comment
Open
2 tasks done

[Fiat] Add ARS (Argentinian peso) #55

Gonbatfire opened this issue May 13, 2022 · 1 comment
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fiat Fiat currencies

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@Gonbatfire
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Gonbatfire commented May 13, 2022

  • I confirm there are no other open issues about this asset
  • I understand that adding the asset is at discretion of the Haveno Core Team and applying doesn't necessarily imply acceptance

What's the ISO code of the currency?

ARS

Why would Haveno be beneficial for the people using this specific fiat currency?

Argentina is a country with 50% yearly inflation, (60% projected this year), buying US dollars is prohibited for the majority of the population, therefore crypto has seen massive adoption lately, due to it being one of the few assets in which we can protect ourselves.
Our government has crypto under constant attack (ridiculous taxes and surveillance), this is part of a direct order coming from the IMF, to which we owe USD 44.5 billion, so there is huge demand for buying outside the national CEXs. right now P2P Telegram groups are the fulfillment for that, but its not optimal ofc. There is also a HUGE distrust of our banking system and necessity to completely avoid it, this is because many of us have lived through the 2001 crisis, in which the government confiscated all the US dollars from bank accounts in the middle of a 300% inflation spike.

Where is the currency used?

Argentina

Why should it be added to Haveno? How would it benefit the project and the community?

This demand could greatly kickstart Haveno adoption, serving as a testament of how well it can work. Also even if Argentinians just use it to buy stablecoins or other cryptos (which they desperately want to), fees still would go towards funding the project.

Additional notes

  • Additional work may be needed for the UI in order to display correct numbers. If you convert USD to ARS using for example the Google calculator, the conversion rate will be wrong, the real one is about double of that, this is because Google and other sources use the "official" numbers from the gov, which are heavily manipulated in order to try to mask our failing economy, to know the real conversion rate you have to look instead at what we call "Blue Dollar" or "Free Dollar", you can see that value here: https://dolarhoy.com and there is also this API https://github.com/Castrogiovanni20/api-dolar-argentina (You have to look at "dólar blue")

  • The P2P market with the most adoption in Argentina is currently Binance P2P, even though Argentinians refuse to use national CEXs, and actively avoid banks, Binance, being foreign, does not yet report any data to the Argentinian IRS (AFIP), so people feel comfortable using it... for now... eventually Binance will start reporting to authorities (obviously) and when that happens, demand for an decentralized alternative will explode for sure!

@Gonbatfire Gonbatfire added the fiat Fiat currencies label May 13, 2022
@woodser
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woodser commented Jan 20, 2025

ARS is already supported as a currency. Are there particular payment methods of interest?

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