Why Corruption is Sometimes Good

I'm an Argentine programmer, libertarian, crypto enthusiast and an advocate for privacy and decentralization.

My love for cryptocurrencies and decentralized systems started after, like many programmers who work for clients abroad, I was hit by the restrictions the Argentine government imposed when it comes about exchanging the ever-inflating Argentine Peso for any other currency. Cryptocurrencies helped me circumvent some of the restrictions and basically avoid losing 65% of my salary to the compulsive funding of the luxurious life styles of local politicians.

This year long quest for the learning of economic self-defense took me from using centralized exchanges to learning the true purpose of cryptocurrencies thanks to Bitcoin Cash, the benefits of privacy by the hand of Monero and the promising field of Decentralized Finance.

I've recently moved to the United Kingdom for work reasons and I have to say the contrast is huge as one would expect. But most South Americans would only see the advantages (economic freedom and a more organized society) but not the disadvantages, because those are related to individual liberties (something that for the most part has not been a problem until the pandemic ensued).

One of the realizations I had is that the ever-present, all-seeing state in first world countries makes it extremely costly and dangerous to act the same way a crypto user would in Argentina, where corruption is the norm. I'd like to share the specifics of why.

Corrupted States are Weaker States

Since in my homeland corruption is as rampant as inflation, the state has fewer resources to force their will upon people and prevent counter-economical activities, which in practice takes to lots of laws and regulations to become little more than politically correct suggestions.

In a similar fashion, Argentina lacks a strong military faction. This makes it less likely for unwilling individuals to die in war. This is also, if you ask me, the reason why Argentina hasn't become a full blown socialist dictatorship yet.

The Financial System Sees It All

Truth be told, there are no hard restrictions on foreign currency exchange in the UK. Nonetheless, there is no big need of it either as a means of protecting yourself from inflation. The GBP (Great British Pound) is one of the most stable fiat currencies in the world. If you, like me, think that fiat is something evil not only because it's inflationary but because it's imposed by force, you're left with few options since this keeps crypto adoption in the UK pretty low.

Probably the most nefarious consequence of the financial system being so widespread is the likeliness that you won't be able to pay for some things in cash, and therefore all your transactions are spied on, recorded and might be used against you (either you realize it or not). In first world countries, your credit score is becoming increasingly critical for things like renting a house or taking a loan.

On the other hand, in Argentina -land of corruption-, most of the population is unbanked. Several international media and organizations like the World Bank signal this as a problem, when actually it's a blessing protecting your privacy.

Corruption Helps Individuals Avoid Government Regulation

I'm Looking for Mr. Bribe. Wink, Wink.

In Argentina there's big number of black market crypto exchange points, and they number is growing by the lots every month. This is in many cases the same people who always worked by selling/buying the renowned "dolar Blue".

This people have connections in banks and in the government, and are able to operate thanks to some people in the government looking to the other side. In a place like the UK this is nearly impossible.

The fact that these guys are now doing crypto helps many people to protect their savings, receive and send remittances and trade assets in the volatile crypto market. Also miners, traders and everyone else are able to convert their yields to fiat since the adoption of crypto as a means of payment by local shops is growing but not yet widespread.

The Future Ahead

Hopefully, thanks to the coordinated effort of communities like Bitcoin Cash Argentina, Argentines will be able to use BCH to pay for all kinds of goods and services soon. I'm looking forward to seeing the country become a capital of crypto adoption.

These guys are doing a tremendous job in spreading the word on the benefits of peer-to-peer electronic cash, what is its true purpose and how to store it and keep it secure, off the hands of greedy politicians and less systemic kinds of theft.

They have an Instagram account, a Whatsapp group and other ways to get in touch with most shop owners who don't use crypto and help them transition into Bitcoin Cash. They also have a Telegram group, so hit them up if you want to reach groups for other countries or just say hi: https://t.me/BCHArgentina

Wishful Thinking

I wrote this article wishing that more Latin-Americans understand and value the liberties corruption grants to them, and make use of such liberties to improve their life and help others do the same. In the same way, I hope I can make people around me more aware of the freedom they are giving up in exchange for a comfortable life.

See you soon and let me know your thoughts!