Turkey isn't actually banning Bitcoin... just to clear the air
There has been some FUD that needs to be addressed regarding the Turkey news...
Turkey isn't banning bitcoin and crypto, period.
What they are doing is banning payments in bitcoin and crypto.
Meaning that companies can't accept bitcoin/crypto as a form of payment.
However, people can still invest in and hold crypto/bitcoin.
It sounds like they are trying to turn bitcoin into a stock where you can buy it on an exchange and sell it on an exchange if it goes up etc. Without doing too much moving of it.
While that sounds interesting in theory I am not sure how they will be able to ban payments yet allow people to hodl it.
If self hosted wallets exist, peer to peer can still happen on a large scale.
I expect other companies will try to go this route as well, but it will eventually fail unless self hosted wallets are banned as well.
If that happens we are going to have a real dog fight on our hands.
That would cripple the industry but also be very difficult to enforce.
Hopefully we are not heading that direction here in the United States...
If you live in a country where the government runs the internet, silver and gold coins and bars would be safer than crypto currency. I need to back up my Steem account in case I loose my cell phone 📱
Dogecoin is up 400% this week! I wish Robin Hood and coin base would trade Steem
Great to know, thanks for the update.
Great work
It looks like another attempt by the powers that'd be to put sticks in the spokes of crypto growth... Since they can't reach the cryptos themselves, might as well hit the exchanges. I guess they haven't yet grasped the idea that many of these cryptos are fully decentralized and, thus, don't have a centralized exchange!?! The natural movement will force the tendencies of trading toward decentralization and cryptocurrencies such as Bitshares, EOS, STEEM and the likes.
Namaste :)
I am going back to my publication. It would be nice if you drop by and check and give UpVote once a day if there is something new for me 😊 (I also invite you to the last two articles
Just like Ghanaians are been advised to be cautious about blockchain..I don’t know why people don’t understand the world of blockchain