The Turkish lira has been depreciating rapidly against the dollar for a while, the measures that the Turkish government thinks have been taken have not had an effect for about two years, and the depreciation continues. I don't think the Turkish state realizes what role Bitcoin can play in the salvation of its economy. and I have a few ideas about why the Turkish lira has become this way, and why investing in bitcoin.
INFLATION
Inflation has been rising rapidly in Turkey in recent years and there is distrust of the data shared in the society.
Inflation reasons;
- The low-interest policy of the central bank
- Money supply increases and public sector deficits.
- Trying to produce low-value-added goods
- 10+ Million refugees
- The state's failure to give confidence to foreign investors and foreign investors' evasion of their money from the country
I think these are some factors that increase inflation..
THE FUTURE AND IMPORTANCE OF CRYPTOCURRENCIES
Cryptocurrencies play an important role by dissolving digital power trust. Blockchains provide secure digital records, making it possible to do business without centralized institutions.
The next-generation crypto ecosystems stand out with their decentralized management (DAOs) and wide range of applications.
Cryptocurrencies are limited and their increasing demand features have an increasing mass of value.
By 2030, the crypto industry will reach maturity to serve the masses.
By 2030, the crypto industry is predicted to be able to serve the masses.
Blockchain technology can become more useful over time and the crypto ecosystem can serve the masses.
In the future of cryptocurrencies, the role of centralized exchanges will decrease and blockchains will be used more. Crypto investors actually use the infrastructures they invest in.
Prevalence of crypto usage in Turkey
WHY TURKEY SHOULD INVEST IN BTC
Inflation Hedge: The 21 Million supply of Bitcoin makes it inflation-proof, I see Bitcoin as a hedge against currency devaluation and rising prices
Investing in Bitcoin makes Turkey part of ongoing technological innovation in this field.
Global Trend: Such a move by Turkey would have a positive impact globally and get other countries to accept it, increasing its popularity and value as more countries and companies accept Bitcoin.
High Return Potential: When we look at the movements that Bitcoin has made for many years, we can see that its value has increased a lot, even if fast movements are risky, it will increase with the global trend that Turkey can create with high return potential.
Facilitating Trade: Being able to pay with Bitcoin can facilitate international trade by offering a less costly payment method
Future-Proofing: Even now, while the world is trying to keep up with the digital transformation, the prevalence of crypto in Turkey and its adoption keeps Turkey ahead in this field. When the government starts to support it, it will position Turkey at the forefront of financial innovation.
Protection from possible gold crisis; More than the reserves in the world, banks sell gold bonds to people, a good way to get rid of a big gold crisis that may be experienced in the future is Bitcoin investment, People tend to invest in Bitcoin during crisis or unknown periods. By making this investment early, Turkey will both get rid of the crisis and become a pioneer in the new investment wave.
Posted Using LeoFinance Alpha
Posted Using LeoFinance Alpha
Great post @atobaba
Sorry to say, but if there are 50 million people who can reason out a possible solution like this in your country, I think the issue of inflation won't be that bad.
What a great thinking bro!!!🙌.
You see, some of this top leaders are still very much in doubt of what the future holds for crypto currency, though some of them might even have it for their own personal usage, but wouldn't want to transfer same energy of wealth creating idea for the benefits of their citizens.
I can definitely admit that the issue of inflation is almost general, though I don't know any country that is 100% inflation free.
People like you needs to get a seat in the Turkish parliament someday 🙌.
It's true that inflation is a problem worldwide, but in Turkey, it has had a particularly negative impact on our lives. However, it's worth noting that the Turkish government has taken a strong stance against crypto and doesn't ask for money from personal investors in exchange for their earnings - they only collect taxes from companies. This is good news for the individual investor, as it creates opportunities for them to invest. Unfortunately, we were already in the midst of an economic crisis before Covid, and the pandemic only made things worse. The economic decisions made by politicians dealt the final blow. As a result, the economy has become so restrictive that it's affecting people's ability to participate in social activities. Before this crisis, I never worried about things like buying gas for my car or going out to eat, but now every penny counts.People are afraid to sleep because every morning when they wake up they see a rise in prices :))
So sorry about that 😰
Inflation is raising to sky. Inflation is also going up in my country too. Infact I think everyone should look into crypto market. It's future. Infact it's present.
Yay! 🤗
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This is quite thoughtful to write about, @atobaba could you state where you got this images from because I would love to submit this on Dreemport for people to read and engage with you! This post is educative and options can be shared through this medium.
Hey Cesca! good to see you again, edited and reposted. Under the 2 photos, it says where they were taken from, I added the links under the others that are not :) thanks for your support!