You might think it is great that Turks are searching Bitcoin on Google but think twice. Here’s some of the stuff you don’t know about Turkey.

Cryptocurrency News and Public Mining Pools

You might think it is great that Turks are searching Bitcoin on Google but think twice. Here’s some of the stuff you don’t know about Turkey.

Hi, I'm Turkish and heavily invested in this country. Also I like to say I'm new to cryptosphere but there are few people in my family who were investing in crypto for over 5 years. This is the list of things most of you ignoring.

It's not great for Turks:

+Making big news like this will only encourage government to tax and enforce big companies like BTCTurk and Binance. You gotta remember we are not allowed to use PayPal last 5 years or so and recently Skrill has been banned. Whatever you do even with VPN, PayPal still bans you.

+Living cost: Whenever USD or EUR makes a move against Turkish Lira everything goes expensive by large margins. Let's say USD/TRY increased by %10 everything goes up by %30-40 because of unpredictablity.

+Increasing further tax: Recently I have bought Xbox Series X from one of the biggest Turkish tech company and it cost me around $1100~. Government usually regulates things according to other currencies.

+Not everyone is in to Crypto: Now imagine majority of Turks not investing in because of their fundamentals. As a software engineer I just started investing after 10 years. I was so much occupied working for foreign companies and building my life as early as possible, I have ignored the power of Cryptos. But still it's not too late.

+"Well if it's that bad why don't you leave your country" mentality: I've been hearing this more and more. Currently I own a large land, 2 apartments and a house. You can't expect me to sell everything and move to somewhere else. My life is already established here, and it is not that easy as you think. Remember getting a travel Visa from Turkey to EU or NA is really painful and this is coming from someone who is married in UK.

+A lot of scams: On WhatsApp I've been getting bunch of scam messages about %100 returns. This is a serious problem due to Turks can be very greedy and gullible.

+Dont be selfish: You might think it is great for crypto space but I can promise you it won't even make a dent. Remember this, min wage here is like €350~. It's not like we are going to bring billions to boost the Market cap. Even US stimulus aid didn't boost it. Instead of being happy for $5 in your portfolio have some empathy.

+We are used to it: This is nothing new, you think $1000 for a mid range computer parts are expensive in rest of the world but those are not scalper prices for us. Right now it is $3800 for RX 6800 XT as MSRP in Turkey. Same as cars, average family car costs around $80k-100k. These are the things we are used to it. It is why no one holds Turkish lira, either gold, USD or EUR.

Feel free to ask, I'll try to answer as much as possible.

Edit: Punctuation.

submitted by /u/Zukape
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