Turkey trying Bitcoin as a “stabilizer” to it’s currency problem ?
Source: https://bcfocus.com/news/bitcoin-btc-turkey-economy-lira-try/20952/
Imagine this, a country currency is under attack or generally losing value and institutions and other people are now educated on shifting to bitcoin in times of trouble as a potential equalizer to hold wealth?
We see the Bitcoin volume up dramatically in Turkey and people are watching. Imagine in 60 days when the charts come out and show the comparison of Bitcoin to the Turkish Lira are available.
This is going to gain attention. This is not like Venezuela coming out with the “petro”. This is a major country that has a population very much aware of Bitcoin and they are trying it (or at least some people are).
Is this the reason why Bitcoin is holding up better than alt coins?
Obviously the Lira to USD chart is not good
But I also note that Gold or silver are not moving up on this ...and we know why....gold/silver prices are totally manipulated. The fact they are not going up in these times of trouble is all you need to know.
Getting desperate and trying everything they can
Yes....and it seems to be a “trend”. Sooner or later there will be the “straw that breaks the camel’s back”.
yes some more countries to follow and then they abandon their sinking fiat and forced to adopt precious metals or cryptos
It’s only going to take one major country and people are going to take notice.
A shame, a criminal shame the way the C Banks manipulate real wealth like gold and silver. They have eliminated any checks on the fiat crap. Going to end real bad.
I actually think all will co-exist. The % use and use cases will very much change over time.
Do you think that contagion will soon spread to European banks?!
Turkey is going to turn everyone into roast turkeys!
I think the ECB can pull out the stops to protect the European Banks is there is contagion. However, the people are watching and they will get the “bitcoin benefit experience” first hand....and when your currency is dropping I believe that will convince more and more.