Topic: Turkish Lira more unstable than BITCOIN (Read 189 times)
People said that bitcoin is so unstable because it is not backed by the economy! Turkey has a strong economy! What do you say, experts?
What is happening in Turkey is the rest of the coup plot against the elected government.
There are parties trying to destabilize the Turkish economy by playing lira.
The Turkish economy is strong and will overcome this crisis.
cryptocurrencies will not be an important part of this scene as I think.
It may be a safe haven for some traders only and this is good.
There are parties trying to destabilize the Turkish economy by playing lira.
The Turkish economy is strong and will overcome this crisis.
cryptocurrencies will not be an important part of this scene as I think.
It may be a safe haven for some traders only and this is good.
Just wait for the Turkish government to blame the problems of their currency on cryptocurrencies and attempt to ban it. Every country where the government is afraid of losing control bans cryptos, so it wouldn't amaze me at all if Turkey did the same. Especially if they read articles like this one and notice that people might be dumping Lira for BTC, which I'd love to see, as fiat currencies are a scam. At least according to one smart guy.
They've already done that. They either blame cryptocurrency or they blame the West for all their troubles. It's always been that way in Turkey and it's just getting worse with Erdogan in power.
Just wait for the Turkish government to blame the problems of their currency on cryptocurrencies and attempt to ban it. Every country where the government is afraid of losing control bans cryptos, so it wouldn't amaze me at all if Turkey did the same. Especially if they read articles like this one and notice that people might be dumping Lira for BTC, which I'd love to see, as fiat currencies are a scam. At least according to one smart guy.
It is very sad that such a strong inflation is taking place in Turkey! but I think that these events will lead to a more rapid legalization of the crypto currency! And as these events will have a positive effect on the development of the crypto market in Turkey! Turks fellows that poured money into crypto coins, thereby saving their money!
No there is no LEGALIZING crypto currency... there are only governments that will adapt or be overthrown.
You cannot fuck with an entire nations ability to buy food and shelter, expecting people to just take it. They will revolt.
It is very sad that such a strong inflation is taking place in Turkey! but I think that these events will lead to a more rapid legalization of the crypto currency! And as these events will have a positive effect on the development of the crypto market in Turkey! Turks fellows that poured money into crypto coins, thereby saving their money!
A lot of people make the argument that bitcoin is too unstable to be a currency. I find this completely untrue.
Fiat is actually placed under the illusion of stability, while in reality, it is actually in a constant long term decline due to the debasement of the money supply by the central banks of each country that issues it. Bitcoin has no such problems, as it is decentralised. And even though there may be some short term volatility, it's going to hold its value in the long run.
This is a spot on statement. I reckon that in the future, bitcoin will serve as a safe haven for those who want to store their wealth in a form other than a depreciating form of fiat currency, just like what gold is used for rigth now. The countries of Turkey and venezuela are only two of the most recent examples.
Fiat is actually placed under the illusion of stability, while in reality, it is actually in a constant long term decline due to the debasement of the money supply by the central banks of each country that issues it. Bitcoin has no such problems, as it is decentralised. And even though there may be some short term volatility, it's going to hold its value in the long run.
Quote
Bitcoin has PROVEN to be a better currency than the Turkish Lira and the Bolivar. Other countries under a currency crisis will take note that there are few safe havens besides crypto currencies to store wealth. Since other national currencies could see the same fate as these two.
This is a spot on statement. I reckon that in the future, bitcoin will serve as a safe haven for those who want to store their wealth in a form other than a depreciating form of fiat currency, just like what gold is used for rigth now. The countries of Turkey and venezuela are only two of the most recent examples.
Turkey Meltdown Propels Lira Volatility Above Bitcoin
The Turkish lira is so volatile it’s making Bitcoin look tame by comparison.
The 10-day swings in the lira relative to the U.S. dollar now exceed those for Bitcoin amid Turkey’s escalating currency crisis.
https://www.bloomberg.com/news/articles/2018-08-13/turkey-meltdown-propels-lira-volatility-above-bitcoin
Bitcoin Investors Eye Turkey As Lira Plummets 20%
Bitcoin and cryptocurrency trading volumes on Turkey's exchanges has surged over recent days as the country battles to contain a currency crisis that looks set to continue into this week.
Koinim, Turkey’s largest exchange, has reported a 63% increase in Bitcoin trading volume, while the BTCTurk and Paribu exchanges have said their volumes are up 35% and 100% respectively
https://www.forbes.com/sites/billybambrough/2018/08/13/bitcoin-investors-eye-turkey-as-lira-plummets-20/
Bitcoin has PROVEN to be a better currency than the Turkish Lira and the Bolivar. Other countries under a currency crisis will take note that there are few safe havens besides crypto currencies to store wealth. Since other national currencies could see the same fate as these two.
Anyone not "sold" on the longevity of bitcoin while people in Turkey buy bitcoin and drop the Lira are just blowing hot air. The Venezuelan Bolivar already did this and it's heading the same way for Turkish Lira.
The Turkish lira is so volatile it’s making Bitcoin look tame by comparison.
The 10-day swings in the lira relative to the U.S. dollar now exceed those for Bitcoin amid Turkey’s escalating currency crisis.
https://www.bloomberg.com/news/articles/2018-08-13/turkey-meltdown-propels-lira-volatility-above-bitcoin
Bitcoin Investors Eye Turkey As Lira Plummets 20%
Bitcoin and cryptocurrency trading volumes on Turkey's exchanges has surged over recent days as the country battles to contain a currency crisis that looks set to continue into this week.
Koinim, Turkey’s largest exchange, has reported a 63% increase in Bitcoin trading volume, while the BTCTurk and Paribu exchanges have said their volumes are up 35% and 100% respectively
https://www.forbes.com/sites/billybambrough/2018/08/13/bitcoin-investors-eye-turkey-as-lira-plummets-20/
Bitcoin has PROVEN to be a better currency than the Turkish Lira and the Bolivar. Other countries under a currency crisis will take note that there are few safe havens besides crypto currencies to store wealth. Since other national currencies could see the same fate as these two.
Anyone not "sold" on the longevity of bitcoin while people in Turkey buy bitcoin and drop the Lira are just blowing hot air. The Venezuelan Bolivar already did this and it's heading the same way for Turkish Lira.
turkey has a constant negative tradebalance with europe especially germany as it needs investment goods to find solutions for their growing population, in fact all developing countries have that. during colonialism europeans did those investments themselves. thats why islamists hate the nationalist governments as they have to constantly earn western money to develop their country instead of just being a submissive non westerner that gets colonised.
Turkey Meltdown Propels Lira Volatility Above Bitcoin
The Turkish lira is so volatile it’s making Bitcoin look tame by comparison.
The 10-day swings in the lira relative to the U.S. dollar now exceed those for Bitcoin amid Turkey’s escalating currency crisis.
https://www.bloomberg.com/news/articles/2018-08-13/turkey-meltdown-propels-lira-volatility-above-bitcoin
Bitcoin Investors Eye Turkey As Lira Plummets 20%
Bitcoin and cryptocurrency trading volumes on Turkey's exchanges has surged over recent days as the country battles to contain a currency crisis that looks set to continue into this week.
Koinim, Turkey’s largest exchange, has reported a 63% increase in Bitcoin trading volume, while the BTCTurk and Paribu exchanges have said their volumes are up 35% and 100% respectively
https://www.forbes.com/sites/billybambrough/2018/08/13/bitcoin-investors-eye-turkey-as-lira-plummets-20/
Bitcoin has PROVEN to be a better currency than the Turkish Lira and the Bolivar. Other countries under a currency crisis will take note that there are few safe havens besides crypto currencies to store wealth. Since other national currencies could see the same fate as these two.
Anyone not "sold" on the longevity of bitcoin while people in Turkey buy bitcoin and drop the Lira are just blowing hot air. The Venezuelan Bolivar already did this and it's heading the same way for Turkish Lira.
The Turkish lira is so volatile it’s making Bitcoin look tame by comparison.
The 10-day swings in the lira relative to the U.S. dollar now exceed those for Bitcoin amid Turkey’s escalating currency crisis.
https://www.bloomberg.com/news/articles/2018-08-13/turkey-meltdown-propels-lira-volatility-above-bitcoin
Bitcoin Investors Eye Turkey As Lira Plummets 20%
Bitcoin and cryptocurrency trading volumes on Turkey's exchanges has surged over recent days as the country battles to contain a currency crisis that looks set to continue into this week.
Koinim, Turkey’s largest exchange, has reported a 63% increase in Bitcoin trading volume, while the BTCTurk and Paribu exchanges have said their volumes are up 35% and 100% respectively
https://www.forbes.com/sites/billybambrough/2018/08/13/bitcoin-investors-eye-turkey-as-lira-plummets-20/
Bitcoin has PROVEN to be a better currency than the Turkish Lira and the Bolivar. Other countries under a currency crisis will take note that there are few safe havens besides crypto currencies to store wealth. Since other national currencies could see the same fate as these two.
Anyone not "sold" on the longevity of bitcoin while people in Turkey buy bitcoin and drop the Lira are just blowing hot air. The Venezuelan Bolivar already did this and it's heading the same way for Turkish Lira.
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