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Turkey bans use of cryptocurrencies for payments

reuters.com

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Re: Turkey bans use of cryptocurrencies for payments

#51

Post by boraoztunc »

nly wrote: post #30
tsss wrote: post #23

Earlier quoted context omitted.

After turning the country into a dictatorship, regularly arresting and torturing foreign tourists, and now corona, I doubt that there are any tourists left at all.

... which is pretty sad. I've been to Turkey twice as a tourist, and it was lovely.

Most of the countries are lovely when you are a tourist. Sadly being local under a suppressed government, without solid democracy, justice and freedom of speech, with high taxes and very little services, corruption to the bone, destroyed education, political religion, shitty health care, no woman rights, or any equality at all, is not that lovely.

You are in a thin line in Turkey, your life can change dramatically in a blink of an eye, and where you find yourself in really dangerous positions for very basic reasons.

Re: Turkey bans use of cryptocurrencies for payments

#52

Post by ben_w »

zoshi wrote: post #39
dandanua wrote: post #16

Earlier quoted context omitted.

Yeah, let's destroy financial systems of governments and substitute it with a system that has 7 tps cap in which the majority of coins belongs to unknown entities (supposedly of criminal origin).

Lightning and sidechains can handle thousands of TPS. Monero has adaptive block sizes, and is estimated to be able to perform 1500-2000TPS. Privacy is a feature, not a bug. I don't want people knowing how much money I have.

Sounds like you’re agreeing that BTC itself is not a solution to anything you care about?

Re: Turkey bans use of cryptocurrencies for payments

#53

Post by submeta »

It hasnt‘t to be banned officially to be banned effectively. - Here in Germany buying and owning crypto currencies is not illegal. But try to transfer only 20k Euros from your bank account to Kraken.com to buy some crypto assets. Then you might get a letter from your bank telling you they just cancelled your bank account, without telling you why. And they will refuse to explain anything. - Trying to get background infos from insiders on reddit, you‘ll hear that there are departments focusing on money laundering that get noticed whenever largish amounts are being transfered to crypto marketplaces. And that their prefered action is to quit an account instead of investigating details.

In the end you realize that it‘s officially not forbidden, but that you rather don‘t touch these assets.

This is the world we are in 2021. Officially these are measures trying to prevent money laundering and tax evasion, but eventually we wake up in a pretty darn restrictive world where you can‘t even transfer 10k euros from A to B without having to explain things. (If and when you get the chance to explain.)

Re: Turkey bans use of cryptocurrencies for payments

#54

Post by argvargc »

kasperni wrote: post #19
varispeed wrote: post #13

Why politicians still think that if they ban something then it will magically go away? As if people will think "oh it's banned, I guess I'll stop using it then". It's another weapon against the poor, as those people are the ones who feel consequences of such actions (good example is the war on drugs - poor people are in jail, rich bankers powder their noses as they please).

> Why politicians still think that if they ban something then it will magically go away? But it probably would. Not completely, but few people would risk putting their life savings or any significant amount of money into something that was illegal.

Unless it's their only option to be able to eat and stay alive.

Re: Turkey bans use of cryptocurrencies for payments

#55

Post by VMG »

zapdrive wrote: post #46
zeepzeep wrote: post #35

Earlier quoted context omitted.

You don't need an on-chain transaction for most things, as you can just instantly send BTC over Lightning Network, a second layer on the BTC blockchain. There's no speed limit, it's not on the chain, only nodes between you and the node you paying are involved. It's pretty neat.

Lol, you are not serious, are you? Oh, I get the sarcasm now. "Lightning Network" is only "6 months away", right? Wink wink!

there are a number of lightning wallets and a number of stores where you can pay using lightning transactions

Re: Turkey bans use of cryptocurrencies for payments

#57

Post by dandanua »

rawtxapp wrote: post #27
dandanua wrote: post #16

Earlier quoted context omitted.

Yeah, let's destroy financial systems of governments and substitute it with a system that has 7 tps cap in which the majority of coins belongs to unknown entities (supposedly of criminal origin).

So you don't think it's valuable to give people power over their incompetent government? 7tps on the base layer, you're ignoring layer 2s and all other places where you can exchange crypto without it being recorded on the blockchain, as a matter of fact, unless you're buying directly from a miner, the single transaction that you use to put it in your wallet actually corresponds to many other transactions elsewhere. >…

Here [1] is just a recent proof, the complete list of proofs is too big.

I don't have much trust in my government either (Ukraine), but at least I know who they are.

Also there are many other ways to store a value.

[1] https://news.ycombinator.com/item?id=26811111

Re: Turkey bans use of cryptocurrencies for payments

#58

Post by insert_coin »

dandanua wrote: post #16
fisf wrote: post #7

Earlier quoted context omitted.

Basically one of the exact reasons why Crypto should exist.

Yeah, let's destroy financial systems of governments and substitute it with a system that has 7 tps cap in which the majority of coins belongs to unknown entities (supposedly of criminal origin).

> Yeah, let's destroy financial systems of governments...

Governments do that on their own they don't need any help from crypto.

Re: Turkey bans use of cryptocurrencies for payments

#59

Post by asah »

dandanua wrote: post #16
fisf wrote: post #7

Earlier quoted context omitted.

Basically one of the exact reasons why Crypto should exist.

Yeah, let's destroy financial systems of governments and substitute it with a system that has 7 tps cap in which the majority of coins belongs to unknown entities (supposedly of criminal origin).

Artifacts of Bitcoin, not fundamental flaws in cryptocurrency.

Re: Turkey bans use of cryptocurrencies for payments

#60

Post by zeepzeep »

zapdrive wrote: post #46
zeepzeep wrote: post #35

Earlier quoted context omitted.

You don't need an on-chain transaction for most things, as you can just instantly send BTC over Lightning Network, a second layer on the BTC blockchain. There's no speed limit, it's not on the chain, only nodes between you and the node you paying are involved. It's pretty neat.

Lol, you are not serious, are you? Oh, I get the sarcasm now. "Lightning Network" is only "6 months away", right? Wink wink!

6 months away, what? I use it on a regular basis. Before covid I could even buy beer & burgers in my city. You can get coupons for everything, many online stores accept it.
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