Turkey bans use of cryptocurrencies for payments

Post by argvargc » Fri, Apr 16, 2021, 1:14 PM UTC

NovemberWhiskey wrote: post #162

Geee wrote: post #102

Earlier quoted context omitted.

Your transaction isn't settled instantly. The actual money that flows between institutions behind the scenes is way slower than bitcoin. You can use credit/debit card on Bitcoin too, and your payments seem to go through instantly with whatever tps the network supports.

Your transaction isn't settled instantly. The actual money that flows between institutions behind the scenes is way slower than bitcoin. ... and yet the world turns; and credit cards amount to $3tn of payments in the U.S annually. As it turns out, businesses do not actually care about instant settlement of payment transactions that much, what's important is instant authorization .

Post by cableshaft » Fri, Apr 16, 2021, 1:19 PM UTC

dmos62 wrote: post #197

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).

The quality of this comment is not what I'd like to see on this forum. Firstly, do you really have to participate in this derogatory, sarcastic tone? Secondly, transactions per second are cryptocurrency-specific, so your point (about BTC, I presume) is irrelevant. Thirdly, majority of cryptocurrencies belonging to unkowns is fine, what's your point? Lastly, some of those unknowns are criminals: again, what's your poi…

Post by ur-whale » Fri, Apr 16, 2021, 1:22 PM UTC

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…

Post by ameister14 » Fri, Apr 16, 2021, 1:28 PM UTC

roenxi wrote: post #134

m12k wrote: post #41

Earlier quoted context omitted.

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.

When has economic stability ever been a good strategy? Rapid improvement is very unstable. Furthermore, stability and monetary policy seems to involve handouts to wealthy people. While I can certainly benefit from that, I don't see why handouts for wealthy people are a good idea. It looks like a bad idea. People seem to be getting angrier about it as time passes too.

Post by ur-whale » Fri, Apr 16, 2021, 1:30 PM UTC

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.