‘We Couldn’t Get Any Foreign Currency’ – Turkey’s Capital Controls Show Why Bitcoin Exists
“We couldn’t get any foreign currency out yesterday: we wanted to take out $50,000 but they directly said ’no,’” one consumer told Bloomberg. “We couldn’t carry out an [electronic funds transfer] either.”
Sad article about how the people of Turkey are having their money trapped in the local fiat currency by their own government. This is exactly what is so good about crypto, you don't need the banks or governments permission to move your money around. I just hope more people are able to get out before the government closes down the local exchanges that are taking the Lira....
Read the full story here...
https://bitcoinist.com/turkey-capital-controls-bitcoin-exists/
Bitcoin around $6260 right now, looks like the $5000's are coming soon.... :(
What happened to Turkish Lira is a result of Trade war with a super power which developing countries like Turkey can not afford.
And printing too much fiat currency, that's not backed by anything like gold or silver.
How do you think @onthehook8 what will happen next?
I'm not sure, but I wouldn't want to hold Turkish Lira anytime soon...
You got a 26.93% upvote from @upmewhale courtesy of @onthehook8!
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Thanks