As Americans recently started using their homes as a medium for savings, the supply of housing was increased so much that the price came crashing down. As monetary inflation proceeds, the large number of bubbles can be understood as speculative bets for ways to find a useful store of value.
-Saifedean Ammous (The Bitcoin Standard)
I sincerely hope enough people in Turkey had reserves in bitcoin. Maybe they will educate and encourage their peers. I hope it's not too late. My suspicion is that it is.
The only positive that can come out of a country expanding its money supply is exposing the central bank's deplorable control over the people and educating and offering them a sound alternative.
This is the cull I've been waiting for.
BTC @ 53.8% dominance.
Alts down across the board.
You could almost say "blood is in the streets".
Now it's the time to accumulate bitcoin.
Don't spend what you can't afford though.
Replace an expensive habit with a bitcoin obsession. You'll thank yourself in the long run.
Lastly, don't beat yourself up with short term losses, bitcoin is the long game. It's sound money and nobody can take it away from you.
"Taxlandia" is the newest peice of propaganda straight from the EU.
It is an app designed to supposedly "educate" European children on taxation and all of it's benefits.
The app recommends taxation rates from 50-85% and uses benign phrases like "gathers taxes" to describe how the government extorts their citizens.
Here is an interesting question: can we build a POW system be 'more useful'
Technical points aside, u/dg123 highlights an important issue: making the POW 'useful' actually decreases the security of the bitcoin chain, because mining hardware would have value independent of mining.
In other words: with a 'useful POW', if miners tank the value of bitcoin by attacking, they would suffer less of a loss on their hardware, effectively lowering the cost of attack substantially.
Bitcoin Maston Instance