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The fact that inflation is at 49% should be the first clue that Turkey does not have well-functioning institutions. In addition to Turkey's numerous economic problems, there was a coup attempt as recently as 2016, and the government has been accused by international human rights groups of using the judiciary to persecute journalists and political opponents. How does Tether, or crypto in general, help solving any of these problems? Not to mention that Tether Inc., the corporation that issues Tethers, has never been audited, and has zero accountability to holders of Tethers. Holding Tethers entails a huge risk.



Did I say hold Tether? No, I said hold UST (Terra's stablecoin).

Turkey was a well functioning democracy, until it wasn't, that was my point.

Did I say cryptocurrency fixes governments? No, I said you can store value in stablecoins when you have malfunctioning governments.

If I lived in Turkey, my wealth was largely stored in UST and NOT Lira.

Not goldbars, not USD or EUR cash, not in banks or any service they provide (except day to day needs of course).

So if you lived in Turkey and had about $200K, where would you store it?


Sorry, I misread UST for USDT.




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