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Is President Erdogan so out of touch with what is happening around him that he declares war on Bitcoin? Or is this a case of “lost in translation” and out of context? An article entitled “We are at war with Bitcoin,” the Turkish President said“I have been walking around on Bitcoin Twitter, receiving ridicule and legitimate criticism. However, we noticed a key detail: This article did not directly quote Erdogan. That is suspicion.
Related Reading | New to Bitcoin?Learn to trade cryptocurrency through the NewsBTC trading course
With iron will and Google Translate, NewsBTC explored this issue and came to unexpected conclusions.
Let’s fall into the rabbit hole.
“When President Erdogan fired the governor of the central bank in March, causing the Turkish lira to plummet against the U.S. dollar, Google searches for the term “bitcoin” soared across the country.”
The tighter the politicians squeeze, the faster the speed #Bitcoin success.https://t.co/F9wmVfl06C
— Robert Bridlov (@Breedlove22) September 20, 2021
Is it a war against Bitcoin or a war against cryptocurrency?
The original article cited a mainstream and generally trusted source, a Turkish article by Bloomberght with the title “Erdogan: We have a separate war on cryptocurrencies. “It is said that the president hosted a youth conference program, so his audience is students from all over the country. They are discussing the country’s proposed CBDC digital Turkish lira, and one of the participants asked their current views on cryptocurrencies:
“Erdogan said that they do not have the issue of opening up to cryptocurrencies, on the contrary, they have separate wars and struggles against them.
Erdogan said: “We will not give them such a premium, nor will we. Because we will continue to use our money to move forward. This is our basic identity in this matter.”
He never even mentioned the war with Bitcoin. Please remember that this is Google Translate, and some information may have been lost. However, differences exist. The president said they “no problem“With encryption, but”Instead, they waged separate wars and struggles against them.“What’s the opposite? Please note that it is not a direct quote either. In the actual Erdogan quotations, he did not mention the war with Bitcoin.
We need more data. Let us consult other sources.
Remember, “we, the people” does not mean “we-the country”.
Trying to fight the technology that empowers people is a reliable way to stand on the side of historical failure.— Jeff Booth (@JeffBooth) September 20, 2021
What exactly did President Erdogan say?
fast Search Lead us to the new arabThey did not directly quote the president’s words, but their translations made it clearer about the intent of what he said:
“Erdogan claimed that the country has “absolutely” no problems with the spread of digital assets.
However, Turkey will continue to use its own money, which he believes is part of the national identity. “
They have no problem with the spread of digital assets because they are preparing their CBDC and the way they sell it is that the money is “Part of national identity.“Got it. But what about this war against Bitcoin?
Second search Lead us to Newsbit, He seems to directly quote the words of President Erdogan who is much more sober:
“We have absolutely no intention of accepting cryptocurrency,” the president replied, adding: “On the contrary, we are at war with them. We will never support cryptocurrency. Because we continue to use our own currency with our own identity.”
Well, now we know that Erdogan never said anything about the Bitcoin war and always mentions cryptocurrencies. Moreover, in the code, he is always talking about the digital Turkish lira. However, did he really say so much? This sentence seems to be very close to what Bloomberg said, and it is not literally. If the president said everything so clearly, why didn’t Bloomberg quote him?
BTC price chart for 09/20/2021 on Exmo | Source: BTC/USD on TradingView.com
It’s time to consult the main source
Fortunately for us, Newsbit links to Anadolu News Agency. This is as close as the main source we are going to get. In the report of the entire incident, at the end it just mentioned cryptocurrency casually. Are there any references in the report? What exactly did President Erdogan say? Well, according to the Anadolu Agency:
“Erdogan said that they do not have the issue of opening up to cryptocurrencies, on the contrary, they have separate wars and struggles against them.
Erdogan said: “We will not give them such a premium, nor will we. Because we will continue to use our money to move forward. This is our basic identity in this matter.”
Related Reading | Turkey’s economic turmoil shows that Bitcoin is a better bet than emerging markets
this is correct! The exact same quote and the exact same wording used at the beginning of Bloomberg. Therefore, Bloomberg literally copied and pasted their article. Newsbit’s so-called quotation is just a rewriting of the phrase. We don’t know what President Erdogan said, but at least his intention is clear: agree with his CBDC. The war on cryptocurrency. We are sure that he never said anything about the war against Bitcoin.
Reporters, cryptocurrency and Bitcoin are not synonymous.
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