4 ms·
this is one of the best use cases for crypto -- as a popular disciplining measure against governments that devalue their currency. see venezuela, nigeria, argen
by nyolfen 6y ago
this is one of the best use cases for crypto -- as a popular disciplining measure against governments that devalue their currency. see venezuela, nigeria, argentina... my sympathies are solely with the ordinary people who would otherwise watch their savings evaporate.
- duxup 6y agoI'm concerned about the model of people in poor counties dabbling in speculation in a system with irreversible transactions protections ... seems like it just as easily could go horribly wrong.
- nyolfen 6y agothis argument is more than a little patronizing when the alternative is this: https://i.imgur.com/lSfdTfK.jpeg https://i.imgur.com/lSfdTfK.jpeg
- duxup 6y agoThe alternative is speculating and predicting that, and being wrong sometimes.
- kemonocode 6y agoAny port in a storm when you live in a country with zero trust towards your own legal tender.
- doggosphere 6y agoIronically they risk more by doing nothing.
- duxup 6y agoThat depends on how things play out.
- doggosphere 6y agoHow often do nation states recover from hyperinflation events?
- imtringued 6y agoThe inflation rate has crashed as much as it has spiked in Turkey. It's going both ways.
- doggosphere 6y agohttps://www.inflation.eu/en/inflation-rates/turkey/historic-inflation/cpi-inflation-turkey.aspx https://www.inflation.eu/en/inflation-rates/turkey/historic-... CPI Turkey 2020 14.60 % CPI Turkey 2019 11.84 % CPI Turkey 2018 20.30 % CPI Turkey 2017 11.92 % CPI Turkey 2016 8.53 % I mean, I hope they're getting control of it, but I certainly wouldn't want to be owning any Lira any time soon.
- imtringued 6y agoAssuming the central bank stays independent it is not a problem in the long term. The problem with Turkey is that the president meddles too much.