Some guy came on here earlier talking about Erdogan using crypto to say fuck you to the EU for crashing his currency.
I wrote that off as a larp, and it might be, but check out this image.
Erdogan wants to switch to a 'plan B and C'
where B stands for 'Block'.
And C stands for Chain? (my guess)
And everyone remembers that one of the main catchphrases for bitcoin was 'plan B' right?
What could this mean? Am I connecting dots taht aren't there?
Bitcoin
Cash
I'm pretty sure that Erdogan favours LINK, not Bitcoin.
Opinion instantly discarded.
you must be a fucking retarded american knowing nothing about politics and the world
I have inside information from a cousin that works closely with the Turkish government that indeed, Erdogan is talking about his massive stacks of stinky linkies that he plans to BUMP and CHECK with, hence plan B and plan C.
cringe
based
kek
it certainly fits the letters
stinky linkies cant hold up an entire country my senpai
>where B stands for 'Block'.
>And C stands for Chain
lol beyond deluded
Bitcoin
Chainlink
topkek
you do realize that Erdogan lives a few centuries behind right? Wanting to "restart" the glory of the Ottoman Empire...how deluded you gotta be, really? Just a wanna be dictator who is faking every possible poll there is. What will happen even if he goes with crypto? I mean look at Venezuela, their own crypto did not help them much and Turkey is headed the same way, so...
erdogan is a strong man who (from what I have read) doesn't know shit about monetary policy or global markets. The statements he himself has made reinforce that view
Because you're not supposed to shit out your own coin. You have to adopt an already established global crypto so other countries cannot devalue you so easily.
>strong man
This is not the first time I see brainlets being referred to this way.
i'm actually pretty hyped by this. being this brainlet, erdogan might actually pull this off and "adopt bitcorn" or do something retarded like that, and if even 1 country will use it as a state-backed currency then it will unironically moon to 100k atleast
>erdogan might actually pull this off and "adopt bitcorn" or do something retarded like that
>being this naive
HAVE YOU EVEN BEEN TO TURKEY ONCE? 90% OF IT IS A 3rd world SHITHOLE WITH NO INTERNET
you idiots have no clue about real life
GOAT Farmers adopting cryptocurrency as state currency FUCKING LMAO
>stinky linkies cant hold up an entire country my senpai
you will hang first on the day of the rope for your lack of faith in sergey.
Venezula is even greater shithole yet they are playing with crypto.
The key word is
>playing
There's no chance that Turkey (or Venezuela) switch to cryptos, simply becuase their population has largely no idea what cryptos a and has no means to use them. Heck, in large parts of Turkey you can pay only in cash, because there's no infrastructure for card payments.
You can still have cash. You can declare that you have bought up 50k bitcoin and that is now backing your national currency just like gold used to. Problem is to get enough btc
To think that the brown skins voluntarily voted Erdocunt into power..
Populists dictators aren't smart enough to understand anything about cryptocutrency or currency in general.
Even if they were, which blockchain is ready for mass adoption and free from volatility? *Crickets*
This: They can just accumulate tons of bitcoin and then say this is what backs our money now.
>problem is to get enough btc
they've probably been buying for years
and big miners probably have stacks to create new central banks with
>mass adoption
none yet
>volatility
compared to that lira graph above bitcoin is looking pretty nice
you took the words out of my mouth.
Seriously OP, you fucking retard.
Go read a book.
You really fucking believe that Turkey will adopt a CC?
Like please, fucking please, tell me you were not just thinking that.
If ANYTHING, they would just put the lira on a blockchain, but its valuation will be the same.
they dont need the farmers to install bitcoin core on their tractors; they can just have a crypto backed fiat currency (i dont know how you would do this)
idiot they just want total control over their people and economy and monetary policy. crypto would not help that one bit.
Dictators don't adopt anarcho-capitalist currencies.
Erdogan won't do shit, however turks with some braincells could very well adopt an alternative currency if theirs go to shit.
As I understand it the guy did a lot to improve the lives for the poor masses, he also is constantly barking towards other world leaders, which the brainlets there interpret as strength and it feeds into their collective inferiority complex.
no if venezuelan gov switched to any limited supply crypto they would go bankrupt in 2 days. their problems are not solvable by crypto any more than solvable by stopping the printing presses.
Pretty easy:Let's say there are 1 Trillion Lira in circulation. You say it's backed by Bitcoin by actually owning say... 1 Million Bitcoin. Now you promiss than anyone can go to the central bank and exchange 1 Million Lira for 1 Bitcoin. You do this exchange a couple times and now people actually trust the statement and don't actually do it, but they have trust that the price of the Lira is 1/millionth of a BTC.
Not saying Turkey has 1M bitcoin though.
Fpbp
what about counterfeit currency? or i guess that problem is no different than if it was gold backed...?
with counterfeiting in a gold backed currency; does the govt just eat the loss and use some of its tax income to buy more gold to cover it?
>HAVE YOU EVEN BEEN TO TURKEY ONCE? 90% OF IT IS A 3rd world SHITHOLE WITH NO INTERNET
this is the same thing as when russia adopted comunism while skipping all the capitalist part.
that's why i'm saying it's so retarded that it might actually happen since erdogan is a brainlet
What difference does it make if a currency is backed or not? Counterfeiting is always bad.
Bitcoin is way too weak for that, the marketcap of gold is 70 times the one of BTC and the volume likely around the same (since exchanges are making up the volume).
You could wipe out any currency tied to Bitcoin with few billions and make a fortune out of it.
im just asking what happens when counterfeiting affects the money supply in a currency that is backed. im curious.
Well he dreamt of a religious youth but thanks to devaluation of lira, turkey may finally have a sexual revolution.
not really no, you can't wipe out bitcoin via trading without losing shittons of money.
>he also is constantly barking towards other world leaders, which the brainlets there interpret as strength and it feeds into their collective inferiority complex.
So like Trump?
no nobody is as retarded as Trump sorry
>>nobody is as retarded as Trump
your mom is for not using a condom
so any kiddo can shit out a coin, but nation-states cannot?
yes but they are obvious scams to anyone thats not a retard. look at the venezualan crypto. nobody gives two fucks about it because its centralised.
If Trump's dad didn't have money, he'll be nothing but a retarded autistic NEET fapping to anime and shitposting on Jow Forums all year.
sounds like capital controls user nothing to do with crypto. Standard idiotic dictator level response to economic crisis
lol Trump fucked China and Turkey all in span of 3 months and u call him retard? GTFO, TRUMP 2020
Liberals are still salty about him winning and will be about the next election too. But we are on the internet so there is a possibility it isn't genuine and it is one of the many astroturfers that China pays for.
ITT autists who don't understand the common phrase, "plan B and/or C" when discussing risk.
All we need is Q predicted this.
Bit
CONEEEEEEEEEEEEEEEEEEEEEEEEECT
>Turkey’s interior ministry said on Monday it was taking necessary legal measures on social media posts regarding the dollar exchange rate that create a negative perception of the economy .
>It said 346 social media accounts that posted comments about the weakening of the lira “in a provocative way” have been identified since Aug. 7 and legal action has been launched.
It literally says B stands for blocking capital outflows and C stands for confiscation of gold and dollars.
Bullets
Conscripts
>Turkey becomes first country to adopt crypto as national currency with Bitcoin Cash
>first mover advantage propels them to world super power within 20 years
>BCH $1 million/coin by 2020
>grinning_roger.jpg
Plan B: Be insulted and blame those infidels
Plan C: Consider Kissing Trump's ass
Yes you can, the order books are paper thin in cryptos, why do you think we have such crazy volatility?