SO MUCH FOR JANUARY, ONLY 8 DAYS
It was 8 days ago, everyone were drinking eggnog and happy to leave behind the remnant of 2021. Since time does not wait, it brings with it the same problem we are trying to fix from time to time.
Every year there is a country with economic problems. I say a country, I guess it is the whole financial system in disarray. Making announcement to help curve the inflation. It is more like plugging a hole to the left to fix the one to the right.
It is an infinite drama with fiat currency. I have been reading about Lira. It is a slide show how inflation is eating them alive. Just in December alone the country spent $7.3 Billion of foreign currency to give Lira some help. It is more like Turks do not trust the Lira much by holding their funds in other currencies and who knows crypto currency as well.
It is not fun to see your fund losing value before you even try to use it. Inflation is rampant everywhere. It seems Turkey is battling this through and they are not winning. Emotions running wild make Lira holders to think quick. I thought Turkey is somehow in Europe. Maybe if they can try to use the Euro, that can soothe the pain. This could be another story about what fiat a country should use.
As long you can produce enough to bring value, you look safe for a while. Every time I see this situation where control is causing more problem than fix, crypto seems to swallow all the air out of the room. Right now the chemistry played by volatility can easily blind spot anyone thinking crypto is only going straight up. Yeah if you watch the market day by day, yes it is spiraling down. Otherwise it is as strong as any currency out there. I have to say way stronger since there is not a single entity controlling crypto (generally speaking)
Today it is Turkey. Tomorrow could be any country unable to control debt crisis, inflation. The world control can apply both ways. Lucky for you to find the one you can manage. If there is one thing we can be grateful for, we are being educated right on the blockchain.
While holding any token, you get to understand the importance of value.
You know the best value will come from a decentralized platform. This is why decentralized finance is the best thing that happen to crypto. No need to deal constantly to a third party for your finance need. You venture into what you like. You park your fund where you can get the best return. No need to give explanation.
As more folks understand, they cannot continue to play with the crypto market forever, things will find common ground where volatility will dampen. At least we are getting a great dose of the importance of #HBD. There is a time for each in life. It seems 2022 will be about HBD for a good cause. As you know the drill, keep yourself in the picture.
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Inflation is taking off all over the world, means we have to put our assets into growth assets to ride up the wave of inflation (not advice). Seems like eth and all the clones are all down 15%+ this year let's hope the turn is just around the corner.
Agree with you hbd at 12% is hives golden goose egg, lets hope it attracts more money and activity to hive
Hive will take its time to reach this threshold
HBD this year looks different.
With Hive no rush cause I know when it is there, it is truly there.
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Turkey has territory in Europe Continent. That is the Bosphorus which divides Istanbul in two sides. From European side of Istanbul till Edirne is a part of Europe.
Relations between the European Union (EU) and Turkey date back to 1959. Turkey has been trying to be the member of EU since then. I think that the negotiations for full membership have been frozen for a few years. Even if a country is granted full membership, it is not included in Euro currency system at first.
According to official figures, the inflation in Turkey was 36.08 in December. However, it is about %80 in fact or as to the fact that is felt in markets, bazaars.
It is true that all countries run the risk of having an economic situation with problems, and governments also facilitate these problems by joining them with social ones. Cryptocurrencies have helped a lot to solve some of these problems, although these days we have seen how this market also tends to decline #HBD remains close to the ideal $ 1 to maintain our blockchain.
It’s not just Turkey. There are so many countries that their fiat is becoming useless. There’s gonna be a big problem in this world pretty soon.
Alas the ebb and flow of markets.
Long term is the only timeline for me. This is just another dip in a longer upward trend I believe is in play. My view is on $10 HIVE, not $1.80 or 80 cents.
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This is why I have my feet deep in this community
first layer I am ready
Second layer here I come.
Long term is the vision of the holders
!BEER
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Any currency where the citizens lost trust in will do just as bad as the Lira and it's bound to happen eventually as history repeats. However I am not really that worried because the USD will probably the last fiat standing and when that happens, I wonder if HBD will still be pegged to USD or will there be some other standard.
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Turkish inflation problem is caused by the government itself. They insist on lowering interest rates despite high inflation, they saddle the country with ongoing USD debts that help in the devaluation of the Lira.
Lira is losing value because no one has any trust in the Turkish government which inherently makes them not trust Lira as well.
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