Turkish Lira Collapses Under Erdogan’s Rule: Can Bitcoin Be a Lifeboat for Locals?

Turkish Lira Collapses Under Erdogan’s Rule: Can Bitcoin Be a Lifeboat for Locals?

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  1. tldr; Turkey’s national currency, the Turkish lira, has lost 35% of its value against the US dollar in the last three months. Turkish President Recep Erdogan also declared war on bitcoin in September, aiming to pave the way for implementing the digital lira. Despite this, the primary cryptocurrency has increased its price by nearly 40%.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. Can you imagine living in a country with a government that doesnt give a single shit about their people.. and there is nothing you can do about it as an inhabitant.

    Erdogan still looking at himself in the mirror saying: i am God.

    Unbelievable the suffering people can do to other people .. all in the name of greed. May he rot in hell.

    I feel blessed to being born in Europe. I just can’t believe how some people in certain countries have to live day by day. It makes me sick.

    I pray that bitcoin will succeed the coming years. It’s not just about getting rich for me. It’s also supporting a better future for mankind.

  3. The inevitable genetic incestuous clusterfuck of finance, oil companies, and governance always will create the need for Bitcoin.

    Nigeria, Venezuela, now Turkey.

    Now the very people in Nigeria who created the problem now blame Bitcoin for causing the problems they caused. No surprise there.

  4. Maybe not bitcoin itself. Since you would need a working infrastructure.

    Meaning a business that accepts BTC as payment for goods and services.

    & a populace that is knowledgeable on creating a Crypto wallet, to manage their funds.

    It would seem easier to make a currency backed on BTC or tied to it. Than to encourage a populace to just switch over to a new financial system of trade.

  5. Bitcoin is the last hope for people in these countries ruled by corrupt politicians and where hyperinflation is taking its toll. Period.

    It will become so sooner or later for all the others who live in Western countries and think they are safe.

    The current system is flawed and not fixable. All the flaws in this system will catch up with you sooner or later. Bitcoin is your best weapon against this.

  6. People said the same thing about Afghanistan but who in the world would sell their bitcoin now for turkish Lira?
    Yes buying it months or years ago would have been smart but that alles to all of us regardless of or currency.

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What do you think?

Russian survey

46% of traders use crypto for hedging 1

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