Bitcoin Limits Influence On South America — Bitcoin Magazine

This is an opin­ion edi­to­r­i­al by Vini­cius Pisci­ni, a bit­coin pleb.

Despite the great growth poten­tial of coun­tries in Latin Amer­i­ca, such as Brazil, Argenti­na, Chile and even Paraguay, exter­nal influ­ences con­tribute to the stag­na­tion and pur­pose­ful eco­nom­ic decline of these coun­tries. We can affirm that the inter­na­tion­al pro­tag­o­nism that such poten­tial would pro­vide in nor­mal times of fair com­pe­ti­tion is dwarfed by the manip­u­la­tions of great pow­ers, promi­nent­ly the U.S. and China..

Sev­er­al play­ers are inter­est­ed in exert­ing their influ­ence in the devel­op­ing world. The Amer­i­can finan­cial sys­tem, char­ac­ter­ized by the hege­mo­ny of the dol­lar in inter­na­tion­al reserves and the rel­e­vance of Amer­i­can mon­e­tary pol­i­cy for oth­er coun­tries, ensures that the U.S. is on an unreach­able foot­ing in the diplo­mat­ic are­na. Bit­coin can be a scourge for this, thanks to its decen­tral­ized sys­tem and, more impor­tant­ly, the fact that it has no con­trol­ling body (not even a known founder), mak­ing it impos­si­ble for unfair competition.