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- funded an Afghan refugee friend in Turkey with ETH. they have no bank account. If they have no bank account, how do they convert ETH into something actually

by hhmc 5y ago

- funded an Afghan refugee friend in Turkey with ETH. they have no bank account. If they have no bank account, how do they convert ETH into something actually useful to them (presumably Turkish Lira)?

fsflover 5y ago
Sell it to a neighbor for cash?
cableshaft 5y ago
Yeah no, the Turkish Lira is no longer useful. "The Turkish lira hit its weakest ever level against the US dollar on August 7, trading at 7.36 at one point, having lost nearly 20% of its value since the beginning of the year....The lira has been on life support for the past two years and the economy has continually struggled." https://theconversation.com/turkeys-collapsing-lira-government-is-running-out-of-options-for-embattled-currency-143365 https://theconversation.com/turkeys-collapsing-lira-governme...
- deleted 5y ago
  [deleted]
- hhmc 5y ago
  > Yeah no, the Turkish Lira is no longer useful. Yeah, no, it actually is. The USDTRY rate doesn't matter nearly as much if you actually live in Turkey, for hopefully obviously reasons. And if your argument is that realized volatility makes a currency useless, then I'm afraid I have some very bad news about cryptocurrency.
  - cableshaft 5y ago
    I was being a bit facetious. Obviously people still use it. But it's not in a great place right now. Volatility based on speculation, price discovery, and early adoption is different than volatility because of high inflation. The former just means you might lose your investments. The latter means your government could collapse.
    - deleted 5y ago
      [deleted]
- bluecalm 5y ago
  Man, my national currency lost 50% of value vs USD throughout last 12 or so years. It regularly goes up and down 10-25% (it usually takes several months). Life goes on and prices of goods are very stable. It's not much of a problem. It's just a healthy mechanism. I live in Poland, most people aren't aware of PLN/USD fluctuations at all.
cslarson 5y ago
they use https://localcryptos.com https://localcryptos.com

by hhmc 5y ago

fsflover 5y ago

Sell it to a neighbor for cash?

cableshaft 5y ago

Yeah no, the Turkish Lira is no longer useful. "The Turkish lira hit its weakest ever level against the US dollar on August 7, trading at 7.36 at one point, having lost nearly 20% of its value since the beginning of the year....The lira has been on life support for the past two years and the economy has continually struggled." https://theconversation.com/turkeys-collapsing-lira-government-is-running-out-of-options-for-embattled-currency-143365 https://theconversation.com/turkeys-collapsing-lira-governme...

deleted 5y ago
[deleted]
hhmc 5y ago
> Yeah no, the Turkish Lira is no longer useful. Yeah, no, it actually is. The USDTRY rate doesn't matter nearly as much if you actually live in Turkey, for hopefully obviously reasons. And if your argument is that realized volatility makes a currency useless, then I'm afraid I have some very bad news about cryptocurrency.
- cableshaft 5y ago
  I was being a bit facetious. Obviously people still use it. But it's not in a great place right now. Volatility based on speculation, price discovery, and early adoption is different than volatility because of high inflation. The former just means you might lose your investments. The latter means your government could collapse.
  - deleted 5y ago
    [deleted]
bluecalm 5y ago
Man, my national currency lost 50% of value vs USD throughout last 12 or so years. It regularly goes up and down 10-25% (it usually takes several months). Life goes on and prices of goods are very stable. It's not much of a problem. It's just a healthy mechanism. I live in Poland, most people aren't aware of PLN/USD fluctuations at all.

cslarson 5y ago

they use https://localcryptos.com https://localcryptos.com