Collapse of cryptocoin exchange in Turkey | VeBitcoin

[magneto]

It's really interesting to see how many people exactly are using crypto as a store of value.

I do think that adoption for that is increasing, but haven't seen sufficient evidence yet to suggest that it is occurring at a scale that some media outlets hype it up to be. Venezuela and Turkey seem to be epicenters of this false reporting.

The exchange shutdown probably has more to do with the Turkish government ban more than any actual financial strain (although it is possible that it is a case of a fractional reserve scheme gone wrong). It is a real shame that Turkey is actively driving out potential sources of real growth and revenue from their economy.