Is President Erdogan so out of contact with what’s taking place round him that he declared conflict in opposition to Bitcoin? Or is this a case of “lost in translation” and quotes out of context? An article titled “We are in a war against bitcoin,” says Turkey’s president” has been making the rounds over at Bitcoin-Twitter, receiving each mockery and rightful criticism. However, we observed a vital element: the article doesn’t include a direct quote from Erdogan. That’s suspect.
Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course
Armed with an iron will and Google Translate, NewsBTC explored the problem and got here to surprising conclusions.
Let’s fall into the rabbit gap.
“When President Erdogan fired the central bank president in March, sending the Turkish lira plummeting against the dollar, Google searches for the term “bitcoin” soared throughout the nation.”
The tighter politicians squeeze, the quicker #Bitcoin succeeds.https://t.co/F9wmVfl06C
— Robert Breedlove (@Breedlove22) September 20, 2021
Is It War Against Bitcoin Or War Against Cryptocurrencies?
The unique article cited a mainstream and usually trusted supply, an article in Turkish at Bloomberght titled “Erdogan: We have a separate war against cryptocurrencies.” Reportedly, the president held a Youth Meeting Program, so his viewers for this was college students from everywhere in the nation. They have been discussing the Digital Turkish Lira, the nation’s proposed CBDC, and one of many contributors requested about their present views on cryptocurrencies:
“Erdoğan mentioned that they don’t have an issue of opening up to crypto cash, quite the opposite, they have a separate conflict and wrestle in opposition to them.
Erdogan mentioned, “We will not give them such a premium, nor will we. Because we will continue on our way with our money, which is our fundamental identity in this matter.”
He by no means even mentions a conflict in opposition to Bitcoin. Remember, this is a Google translation and a few data would possibly’ve been misplaced. However, the discrepancies are there. The President says they “do not have a problem” with crypto, however that “on the contrary, they have a separate war and struggle against them.” On the opposite to what? And do discover, it’s not a direct quote both. In the precise Erdogan quote, he says nothing a couple of conflict in opposition to Bitcoin.
We want extra knowledge. Let’s seek the advice of different sources.
Remember, “We, the people”, doesn’t imply “We – the state”.
Trying to combat a know-how that empowers folks is a certain approach to be on the dropping aspect of historical past.— Jeff Booth (@JeffBooth) September 20, 2021
What Did President Erdogan Say Exactly?
A fast search leads us to The New Arab. They don’t quote the President instantly, however their translation makes a lot clearer the intent of what he mentioned:
“Erdogan claimed that the country “definitely” doesn’t have an issue with the unfold of digital property.
However, that Turkey would keep on with its personal cash, which he believes is a part of the nationwide identification.”
They don’t have an issue with the unfold of digital property as a result of they’re making ready their CBDC, and their approach to promote it is that cash is “part of the national identity.” Got it. But, what about this conflict in opposition to Bitcoin factor?
A second search leads us to Newsbit, who seemingly quote a way more clear-headed President Erdogan instantly:
“We have absolutely no intention of embracing cryptocurrencies,” the president replied, including: “On the contrary, we have a war against them. We would never support cryptocurrencies. Because we continue with our own currency that has its own identity.”
Ok, now we all know that Erdogan by no means mentioned something a couple of conflict in opposition to Bitcoin and at all times referred to cryptocurrencies. And that, in code, he was at all times speaking concerning the Digital Turkish Lira. However, did he actually say all that? That quote appears suspiciously shut to the unique Bloomberg quote, and that one wasn’t literal. If the President mentioned all the things that clearly, why wouldn’t Bloomberg quote him?
BTC value chart for 09/20/2021 on Exmo | Source: BTC/USD on TradingView.com
Time To Consult Primary Sources
Luckily for us, Newsbit linked to the Anadolu Agency, a Turkish state-run news agency. This is as shut to main sources as we’re going to get. A report on the entire occasion that solely casually mentions cryptocurrencies on the finish. Is the quote current in that report? What did President Erdogan say precisely? Well, in accordance to the Anadolu Agency:
“Erdoğan mentioned that they don’t have an issue of opening up to crypto cash, quite the opposite, they have a separate conflict and wrestle in opposition to them.
Erdogan mentioned, “We will not give them such a premium, nor will we. Because we will continue on our way with our money, which is our fundamental identity in this matter.”
Related Reading | Turkey’s Economic Turmoil Shows Bitcoin Is a Better Bet Than Emerging Markets
That’s proper! The similar precise quote with the identical precise wording that Bloomberg used at first. So, Bloomberg actually copied and pasted their article. And Newsbit’s supposed quote is only a rewording of that phrase. We don’t know precisely what President Erdogan mentioned, however no less than his intention is clear: Yes to his CBDC. War on cryptocurrencies. And we all know for certain he by no means mentioned something a couple of conflict in opposition to Bitcoin.
Cryptocurrencies and Bitcoin are not synonymous, journalists.
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