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Maybe they should sell it in Bitcoin and automatically trade for dollars
by savant_penguin 5y ago
Maybe they should sell it in Bitcoin and automatically trade for dollars
- div72 5y agoThe Central Bank of Turkey prohibited usage of cryptocurrencies as a payment method back in April.
- qeternity 5y agoRight, because although the Lira is the most volatile currency, a 15% one day move is a black swan. For bitcoin, it happens every couple of months.
- samstave 5y agowhat do you think btc's 'black swan' will be?
- ComodoHacker 5y agoStability?
- ChrisClark 5y agoChina will ban it for the 17th time? (kinda sarcasm, kinda not)
- qeternity 5y agoIt doesn't matter. Bitcoin's normal price discovery is volatile to the degree that only black swans are in fiat currencies.
- JanisL 5y agoIts not a real black swan because it's so painfully obvious to anyone who's looked at it in depth but the demise of Tether will have an enormous impact on BTC.
- Jensson 5y agoNext downturn when everyone wants to cash out all their investments at once so they can pay rent and such. BTC has yet to experience a downturn, I don't think it will be pretty.
- azth 5y agoThe large investors will buy even more.
- somebodythere 5y agoBitcoin has had downturn of over 80% in USD terms in the past 5 years.
- mr_toad 5y ago> what do you think btc's 'black swan' will be? Being a usable currency.
- polote 5y agoWhy do it in Bitcoin when you can do it in Lira ?
- jazzyjackson 5y agoat least there is consensus on the exchange rate, even if it fluctuates wildly
- arcticbull 5y agoNot if you count the OTC markets. I'm led to believe the prices are significantly different in any meaningful quantity.
- can16358p 5y agoLatelt Bitcoin has been more stable than Turkish Lira, against USD.
- deleted 5y ago[deleted]
- arcticbull 5y agoHm, Bitcoin appears down 23% in the last 18 days, flailing wildly the whole time. If your concern was stability you would obviously not pick Bitcoin haha. Maybe a nice USD or EUR price tag.
- authed 5y ago> Maybe they should sell it in Bitcoin and *automatically trade for dollars* Looks like you didn't read the parent comment.
- arcticbull 5y agoThat doesn’t mean they wouldn’t need to change the sticker continuously thought right? This is almost certainly what they’re doing with Lira now.
- authed 5y agoCharge a price in USD, but accept bitcoins for it?
- arcticbull 5y agoThere's absolutely no reason I can think of for doing that - instead of posting a price if USD or EUR and accepting paying in TRY. They'd have to exchange that Bitcoin for TRY anyway to pay their local staff, and they'd have to convert the balance to USD or EUR anyways. It's just extra lossy steps with huge volatility.