Turkey bans use of cryptocurrencies for payments

Post by xtracto » Fri, Apr 16, 2021, 2:08 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 pydry » Fri, Apr 16, 2021, 2:12 PM UTC

freddie_mercury wrote: post #77

neilwilson wrote: post #68

Earlier quoted context omitted.

"The central bank has brought so much lira with its foreign currency reserve to try to maintain the price that it is almost running dry of any foreign currency, making the future look even bleaker." All it needs to do is stop doing that and make it clear to the market that it will no longer do that. That removes the patsy from the market and the currency will find its level. What you have to do is make lira scarce. A…

Using the phrase "Washington Consensus" just indicates you're out of touch and it makes it hard to take any argument you make seriously. The Washington Consensus was on life support by the year 2002 -- that's two decades ago -- and was completely dead by 2008 -- well over a decade ago. Making strawman arguments against things 15 years out of date doesn't make your argument look stronger.

Post by ajkdhcb2 » Fri, Apr 16, 2021, 2:18 PM UTC

iamben wrote: post #199

ajkdhcb2 wrote: post #193

Earlier quoted context omitted.

People like her can let custodians like banks store her cryptocurrency.

"custodians like banks" - so a bank then? Until she (eventually) gets all the same protections and benefits she already has from 'regular money' what reason would she (and many others) have to start using 'digital money' instead?

Post by almost_usual » Fri, Apr 16, 2021, 2:23 PM UTC

matheusmoreira wrote: post #187

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…

> 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 This is the exact problem cryptocurrencies were invented to solve. We're supposed to be free to spend our money without the indignity of having to explain things to some bank or government. The better the technology, the more tyrannical the government must become to maintain…

Post by megameter » Fri, Apr 16, 2021, 2:32 PM UTC

dash2 wrote: post #48

argvargc wrote: post #44

Earlier quoted context omitted.

This is very misleading. Cryptocurrencies developed on 10+ year old tech, that have stayed in that state throughout may indeed have very poor tps as you state. However, this is absolutely not the majority, as that base tech has iterated both at the base level, and in the application of layers. Typical these days are tps-handling in the 1k's - 10k's, and beyond. This will only keep improving as the technology progress…

Brand loyalty is probably less important than network effects. NewTechCoin may be way better than Bitcoin but nobody's going to buy it until everyone else is buying it.