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Exactly. If I am from Turkey, earn a Turkish Lira for salary, and pay for stuff locally in Turkish Lira, you might be tempted to think that currency exchange m
by q1w2 5y ago
Exactly. If I am from Turkey, earn a Turkish Lira for salary, and pay for stuff locally in Turkish Lira, you might be tempted to think that currency exchange moves don't impact me.
That would be very very wrong, and one trip to any store would immediately wake you from that fantasy.
Supply chains are global. Local prices are based on the GLOBAL costs and global exchange rates.
Stability is critical. A small business will die with Bitcoin level volatility. Their margins might be 5%. A 15% shift in prices will drive them bankrupt in a day.