We've seen this happen in broken economies with hyperinflation plaguing national currencies (Zimbabwe, now Venezuela). We've seen it happen in countries facing economic sanctions and people unable to send money abroad to families and diaspora (Iran). I didn't expect to see it happen so quickly in Turkey, but here we are. They've got a really budding Bitcoin and blockchain community there already, and enthusiasm has been growing, if I can judge by the number of Turkish language content I've been seeing across crypto.
Their citizens are probably one of the most active users of fintech... Revolut for example is already big over there and with the Turkish community I interact with, now that even these apps and tools are slowly restricting them, they'll be flocking to Bitcoin.
Welcome to the revolution!
I've always wondered if bitcoin could ever by adopted by a country with a failing economy or one where their currency has become worthless due to hyperinflation like Zimbabwean dollars. It would be huge for bitcoin if it became the default currency of a nation and I think this could actually happen at some point due to people looking for alternatives to their nation's failing currency. Not sure how well it would work out with bitcoin's drastic volatility but if it kept rising the people who adopted it would certainly be very happy and supply and demand would likely keep it going if an entire country was behind it.
Can BTC make any difference in Turkey now? I think not, there is simply no sufficient infrastructure, no BTC ATMs and even few biggest exchanges in Turkey recorded 100%+ increase in volume they only have 11+ million $ in 24 hour of trading, rather insignificant amount compared to the global volume.
You don't need ATMs. You only need them to withdraw fiat. Besides, existing regular fiat ATMs could even be adapted to deal with btc. It wouldn't be difficult to do at all. You can still just do cash trades or use exchanges. Thigns would quickly change and adapt to meet demand however.
