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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

#91

Post by cblconfederate »

TicklishTiger wrote: post #73
qwertox wrote: post #22

What are the consequences of being left out? For example, assume that the EU bans crypto, but the US is fine with it. The US will then continue developing solution with and for it, eventually building the next big thing, revolutionizing a market. Wouldn't that then place the EU in a position of a consumer until they can then catch up eventually, if that would even be possible?

We are already there. Europeans all use Coinbase and other US exchanges. Coinbase alone brought over $80B in market cap to the US. 100 times more than the market cap of Yahoo when it IPOed.

> Europeans all use Coinbase and other US exchanges

source? I dont use coinbase because of higher costs and all the US shenanigans with other people's data

Re: Turkey bans use of cryptocurrencies for payments

#92

Post by gregoriol »

rozularen wrote: post #3

>In a statement explaining the reason behind the ban, the bank said these assets were "neither subject to any regulation and supervision mechanisms nor a central regulatory authority," among other security risks. That's exactly what they made for, duh

Being made for something doesn't mean it's right or good though

Re: Turkey bans use of cryptocurrencies for payments

#93

Post by bko »

m12k wrote: post #41
dangerlibrary wrote: post #32

Earlier quoted context omitted.

In fairness, "the majority of coins belong to unknown entities (supposedly of criminal origin)" is only a small rephrasing away from a description of Erdogan's government / political party [0]. And they are scarier for Turkish citizens than BTC, since he also aggressively punishes dissent and is a de-facto dictator [1]. [0] https://en.wikipedia.org/wiki/2013_corruption_scandal_in_Tur... [1] https://en.wikipedia.org/w…

Sure, but the fact that Turkey is becoming increasingly corrupt isn't really a good argument why it would be a good idea to take away the ability of all central banks to perform monetary policy to stabilize the economy.

> take away the ability of all central banks to perform monetary policy to stabilize the economy

The central banks monetary policy is exactly what's destabilizing the economy

Re: Turkey bans use of cryptocurrencies for payments

#94

Post by Yizahi »

submeta wrote: post #53

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 in…

> departments focusing on money laundering that get noticed whenever largish amounts are being transfered to crypto marketplaces

They are probably right in most of cases, given how widespread corruption is.

Re: Turkey bans use of cryptocurrencies for payments

#96

Post by adhoc32 »

bellyfullofbac wrote: post #78

Another article about cryptocurrencies, another comments thread where I shake my head at the Cryptozealots spouting "It's the solution to everything! Resistance is futile! You will be assimilated!". I read something interesting about this behavior a while ago, if you've put money into crypto, of course you're going to be cheerleading it, nobody puts money in something expecting to lose it (oh wait... I can see the /r…

Resistance is futile peasant! You will be assimilated!

Re: Turkey bans use of cryptocurrencies for payments

#97

Post by sekai »

bellyfullofbac wrote: post #78

Another article about cryptocurrencies, another comments thread where I shake my head at the Cryptozealots spouting "It's the solution to everything! Resistance is futile! You will be assimilated!". I read something interesting about this behavior a while ago, if you've put money into crypto, of course you're going to be cheerleading it, nobody puts money in something expecting to lose it (oh wait... I can see the /r…

Crypto clearly has a use in this scenario, Lira is plummeting.

Re: Turkey bans use of cryptocurrencies for payments

#98

Post by fnord123 »

istanbul7 wrote: post #36
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.

Tourist arrested ?? That would be terrorist not tourist. We dont have cops like in usa that kill people bu sitting their throat

https://www.thetimes.co.uk/article/turkey-warns-tourists-cri...

https://ekurd.net/kurdish-tourists-beaten-turkey-2019-07-20

Re: Turkey bans use of cryptocurrencies for payments

#99

Post by qwertox »

tsss wrote: post #25
qwertox wrote: post #22

What are the consequences of being left out? For example, assume that the EU bans crypto, but the US is fine with it. The US will then continue developing solution with and for it, eventually building the next big thing, revolutionizing a market. Wouldn't that then place the EU in a position of a consumer until they can then catch up eventually, if that would even be possible?

Turkey isn't in the EU and hopefully it never will be.

> Turkey isn't in the EU

I never stated that it was. Turkey is meaningless in regards to the future of crypto, just like Germany or Peru is. But the EU has a power of regulation which affects a somewhat significant amount of earth's population, so it makes sense to play with the thought of it.

Re: Turkey bans use of cryptocurrencies for payments

#100

Post by SiempreViernes »

o_p wrote: post #76
riffraff wrote: post #71

Earlier quoted context omitted.

he's saying "the fact that there are corrupt people in position X should not disqualify every other people in position X". There are bad surgeons, you should still probably want surgery if you're sick.

But there are no many surgeons here, theres only one, one central bank. The inflation rate of Turkey is 15%, is anyone really telling people to just "trust the goverment"? Would you put your life savings in the Turkish Lira?

Maybe you are not aware, but there are in fact other countries than Turkey, each with their own currency. Indeed, from Erdogans point of view, the fact that there are other currencies is their whole problem!
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