Community Trust ScoreVerified
Michael Saylor expressed: “In a world, where everyone is dissipating energy, you need to conserve yours.
The Turkish lira traded at an all-time low of 12.50 lira to $1, having depreciated another 7% Tuesday.” If you want to survive, convert your working capital from TRY to USD. If you want to thrive, convert all your capital from TRY to BTC.
The problem is clear to see, and getting worse. It is also not isolated to Turkey (see Argentina et al.). The best solution available to corporations, families, & individuals in economies with collapsing currencies is Bitcoin.”
Community Reaction: Bitcoin is a battery for wealth, cash is a capacitor, and debt is a spark.
The real inflation is well over 58% in Turkey worse than Argentina.
I wonder if there is a way to set up an emergency fund for Turkish Bitcoiners going through this? I’d gladly help. What a terrible situation. It makes me so sad.
I will transfer the money into the encrypted wallet for the stable and undamaged Defi mining project and collect Ethereum every day.
This is the reason I’m afraid of keeping even 100$ in my bank account.
Bears will also always find ways to justify their views despite the fact that Bitcoin has hit new all-time highs following the United States consumer price surge to 6.2%, which is the biggest inflation surge in 30 years.
The problem with a lot of countries (not necessarily Turkey) is that there is no mechanism to purchase or exchange Bitcoin. You can’t link a bank account to an exchange.
I assume another war is coming in the middle east, mark my words. If their economy is going down, they have no way out, the elites (banks) from Turkey will provoke a war to distract their citizens, all their life savings on Bitcoin will be the easiest and peaceful solution.
Bitcoin trading volumes are rising in Turkey as the increasingly authoritarian government goes diligently about the work of setting its currency, the lira, on fire. The people of Turkey need the flagship currency Bitcoin at all costs.
It would be ironic if Turkey became the first large country to adopt the Bitcoin standard, simply because it imploded slightly faster.
Cryptocurrency is the way to go, but the devaluation is a part of a larger geopolitical strategy Turkey had a trade surplus last month, and now the cost of labor is cheaper than it is in China. We are bullish on Turkey.
Cryptocurrency usage is very common in Turkey. Actually, converting TRY to anything works perfect for now.
Makes total financial sense to me. Hyperinflation so let’s LOWER interest rates further.
So many Turkish people bought Bitcoin (BTC) too. Now you have to send it to moon. Most people in Turkey thinks Bitcoin is Ponzi. Ironically.
