Argentina has trade deficit problems. Black markets and cryptocurrencies don’t fix these problems just push the burdens of them onto other people who can’t as easily get around the legal currency framework.
Their own currency is unusable, and the government limits how much dollar they buy.
I'm an Argentinian, and this is an exaggeration. There is certainly very high inflation and we are all worried about it, but the peso is not useless (yet), and the majority of people go about their lives without any access to dollars or crypto. If the peso was useless, these people wouldn't be able to eat. This must also be stressed: outside a minority within the middle class, most working people don't even know what crypto is.
> the government limits how much dollar they buy
Some nuance here: this is not done out of a whim, but to preserve dollar reserves, needed for international trade. People who buy dollars (myself included) tend to hoard them as savings outside the banking system (making them unavailable) or spend them in gadgets, luxury goods or travel.
Note I don't condemn the individual behavior, I just note this creates a collective problem for the country.
This situation happens because the USD price is artificially low. Use the market price and you no longer have this issue.
Every more "developed" country went through real hardship attempting to control their exchange rates, always there were strong short term reasons to keep the controls in place. But it's just not viable in the long run. Controls create an artificial situation where the politically well connected benefit. They gain personal access to favorable rates, or their businesses enjoy unfair protection through the manipulated rates.
This a sympton. The root of the problem is elsewhere: the government. How it is possible that our neighbours do not have our chronical shortage of dollars?
Unfortunately I don't think there is a single, tidy reason like "the government", or "public spending", "printing money", etc. Those who sell those simple solutions have vested interests in that narrative.
Props to you for acknowledging Bolivia's success though! (Anti-props for thinking Chile is a success. An economic "boom" based on inequality and bloodshed).