Turkey bans use of cryptocurrencies for payments • Hacker News Board

Re: Turkey bans use of cryptocurrencies for payments

#261

Post by matheusmoreira » Fri, Apr 16, 2021, 3:53 PM UTC

anoraca wrote: post #255

matheusmoreira wrote: post #187

Earlier quoted context omitted.

> 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…

"We're supposed to be free to spend our money without the indignity of having to explain things to some bank or government." Why do you think that?

Because they are not owed any explanation. It's our money, we should be able to spend it on whatever we want. We don't have to prove anything to anyone.

Anything else means the money doesn't actually belong to us, it belongs to the bank or government and they're just generously allowing us access to it. People work hard every day for a living, they shouldn't have to suffer this sort of indignity.

Re: Turkey bans use of cryptocurrencies for payments

#262

Post by matheusmoreira » Fri, Apr 16, 2021, 3:59 PM UTC

x86_64Ubuntu wrote: post #249

matheusmoreira wrote: post #187

Earlier quoted context omitted.

> 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…

No one is going to lose the stability afforded by centralized Western government for crypto. That's a false dichotomy.

What stability? Governments are literally printing money at unprecedented rates. Fiat currencies are losing value at increasing speeds. We're discussing cryptocurrencies in a thread about Turkey attempting to force citizens to use their own rapidly depreciating currency instead of bitcoin.

Re: Turkey bans use of cryptocurrencies for payments

#263

Post by coolspot » Fri, Apr 16, 2021, 4:11 PM UTC

xvector wrote: post #150

me551ah wrote: post #127

Earlier quoted context omitted.

You do realize that in a war of Government Vs Crypto, the government will win. Governments can ban crypto but the opposite isn't true.

Governments cannot ban crypto. They may ban exchanges, but if crypto ever establishes a value of its own as a currency, the government cannot do anything. At least not without basically turning off the internet. Which is, well, not out of the question for Erdogan as he is a dictator.

They can treat it as malware - blackhole all IPs involved into P2P.

Re: Turkey bans use of cryptocurrencies for payments

#264

Post by qJ25D3vAzmfp » Fri, Apr 16, 2021, 4:14 PM UTC

Karsteski wrote: post #234

africanboy wrote: post #226

Earlier quoted context omitted.

smoking in public places. alcohol sold to minors. unlicensed doctors. guns. hard drugs. tanks as private vehicles. old polluting cars. the list is endless.

Hmm... I only agree that two of these should be illegal, which are alcohol sold to minors and tanks as private vehicles. Every other one has many aspects that I don't want a government involved in. But there's a lot to be written about that.

I guess you are American from the US.

See, the problem is that you are savages, no offense.

Of course smoking in public offices must be restricted by the government, which represent the voters and which in turn are elected to govern the State.

The public cannot harm the health of the citizens that it has to protect by mandate.

If you wanna smoke and harm yourself (I am a smoker myself) do it on private property, away from people that have to be there for reasons beyond their will (for example testify at a trial).

Of course the government is the solely ultimate responsible of controlling (i.e. banning for some uses) hard drugs.

Who would you put in charge of it?

Of course it has to control guns, you can't let it control to private entities that profit from arms, it would be crazy!

You would see kids that go to school and shoot other kids.

Lucky us nobody in the World has ever thought of not strictly controlling guns!

That would be a nightmare!

Of course it is the only one who can ban diesel cars from cities and all of the above, you need laws to make it happen, the parliament writes and approves them, it's government's duty to enforce them.

Government is not the enemy, government is the average of public opinion that becomes ruling class for a brief period of time depending on how many votes that coalition of ideas and (of course) interests can get from the citizens.

The idea that the government is formed by aliens who come from another galaxy to ruin our otherwise beautiful peace and harmony is idiotic at best.

Re: Turkey bans use of cryptocurrencies for payments

#265

Post by koonsolo » Fri, Apr 16, 2021, 5:18 PM UTC

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).

You are talking about Bitcoin, I thought the article was about cryptocurrencies. (And the comment you replied to said 'Crypto')

Re: Turkey bans use of cryptocurrencies for payments

#266

Post by koonsolo » Fri, Apr 16, 2021, 5:23 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.

Bitcoin is leading with a 50% market share. So big but not really a monopoly.

Re: Turkey bans use of cryptocurrencies for payments

#267

Post by ziml77 » Fri, Apr 16, 2021, 5:27 PM UTC

dmos62 wrote: post #198

KptMarchewa wrote: post #143

Earlier quoted context omitted.

Reversibility is the feature of credit cards, not drawback or limitation.

Well, if there is such a thing as _the_ feature of credit cards, it's credit, as in deffered payment. Reversibility has its pros and cons. Similar to censorship and centralization. Until crypto, you didn't really have a technological means to prevent it, so it being popular in the fiat financial systems doesn't say anything.

Depends on who you are. For me the features of a credit card all revolve around convenience and risk minimization. Convenience in that I don't have to fumble around with bills and coins. Risk minimization in that US laws give me far more protection from fraudulent uses of my credit card than fraudulent uses of a debit card (and stolen cash is just gone for good).

Only once have I ever use the deferred payment aspect of a card, and that was a 0% APR offer.

Re: Turkey bans use of cryptocurrencies for payments

#268

Post by Max_aaa » Fri, Apr 16, 2021, 5:42 PM UTC

koonsolo wrote: post #266

dash2 wrote: post #48

Earlier quoted context omitted.

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.

Bitcoin is leading with a 50% market share. So big but not really a monopoly.

The question what will happen when Bitcoin flops. Will people trust other crypto? It looks like for the crypto train to keep on chugging, bitcoin needs to be sustained.

Re: Turkey bans use of cryptocurrencies for payments

#269

Post by Karsteski » Fri, Apr 16, 2021, 5:46 PM UTC

qJ25D3vAzmfp wrote: post #264

Karsteski wrote: post #234

Earlier quoted context omitted.

Hmm... I only agree that two of these should be illegal, which are alcohol sold to minors and tanks as private vehicles. Every other one has many aspects that I don't want a government involved in. But there's a lot to be written about that.

I guess you are American from the US. See, the problem is that you are savages, no offense. Of course smoking in public offices must be restricted by the government, which represent the voters and which in turn are elected to govern the State. The public cannot harm the health of the citizens that it has to protect by mandate. If you wanna smoke and harm yourself (I am a smoker myself) do it on private property, away…

First off, I'm not American, nor have I been to the US. Given that you started off with "Americans are savages", I don't really see the point in trying to have any sort of reasonable exchange here...

Re: Turkey bans use of cryptocurrencies for payments

#270

Post by hanniabu » Fri, Apr 16, 2021, 5:48 PM UTC

simonh wrote: post #70

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.

If corruption isn’t a good argument for keeping your money out of a system, what is? Giving them more of your money isn’t going to make them less corrupt.

HN will hand save crypto no matter how much evidence and use cases for it are presented. It's really not worth wasting your breath, although I do hope to one day come here and find actual discussions on EIPs and other technical topics.