S6 E3: Luis Ploennig on Bitcoin in South America & Indacoin

Mexican bitcoiner Luis Ploennig (better known as Plucoinz on Twitter) is trying to help Latin American countries find a more stable and fair form of money. Knowing that millions of people are unbanked and the poverty is driven by the continuous debasement of the national currencies, Ploennig spends his working hours trying to convince regular people (as well as high-ranked politicians) to give Bitcoin a chance.

While in the USA there are skeptics who call out Bitcoin’s valuation volatility in relation to the dollar, in Argentina and Venezuela the situation is quite different. To the citizens who want to keep their purchasing power and also find inconvenience in carrying piles of dollars, it makes a lot more sense to hold and trade bitcoins.

In Luis Ploennig’s own words, Bitcoin has been around for longer than the average length of a South American political regime or monetary policy. There are fiat currencies that disappeared after only a few years, and the consequences of this destructive fiat game can easily be measured in terms of poverty.

“When the USA sneezes, Mexico and the rest of the Latin American countries catch a cold” – Luis Ploennig

Throughout this 68-minute interview, the Indacoin growth director makes a very rational and bullish case for Bitcoin – not as a speculative asset, but as a form of uncensorable, unconfiscatable, apolitical, and predictable form of money.

Watch out for the point where Luis explains that people in Latin America are not as skeptical or frightened when it comes to becoming their own banks – if their personal experiences include bankruptcies and great losses due to “legal” and “institutional” entities, then they would rather embrace the riskier but more rewarding individual sovereignty.

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