What is Bitcoin, the cryptocurrency that has been growing rapidly in recent years and has suddenly become a hot topic in our country due to the price increase, how can it be purchased, is it legal? Alp Işık, who has conducted important research on Bitcoin and its developments since its emergence in 2008, answered the questions that all of Turkey was curious about.

It is not possible to block Bitcoin in any way. We can say that they are trying to block Bitcoin in the following way;

They can block exchanges that buy and sell Bitcoin. Because these exchanges work with bank accounts. There is a very technical process at first for you to buy Bitcoin. You can produce Bitcoin, this is called Bitcoin mining. The second part is that you can get it from Bitcoin exchanges. The third option is, as we are talking about right now, you can sit side by side and I give you Bitcoin and you give me money. TL, dollar, euro can be any currency.

Bitcoin is actually a technology that is still in its infancy, so we can think of it as still in beta. Its price may have increased excessively, but we should not compare the success of Bitcoin with its price. If we think about how much the usage rate of Bitcoin is increasing, we can look at the legal and illegal part from there. The usage rate of the Bitcoin network is increasing parabolically every day. As such, it also attracts the attention of states. So, what is happening here? Is there a potential or a threat to us? Coming to the situation in our country, CMB has a very long, well-prepared report about Bitcoin on its website. On the BDDK's website, it does not say anything about whether it is legal or illegal, it just shows it as follows. In Bitcoin transfers, since Bitcoin accounts are not connected to any central organization, if you accidentally send Bitcoin to someone, if your Bitcoin account is stolen, or if something bad happens to you because of Bitcoin, you cannot get help from the government. There is only such a brief explanation. Apart from that, in some countries abroad, such as Japan, it will come into effect next summer as a completely legal currency. This was partly what triggered the current price increase. Since Bitcoin is a peer-to-peer money transfer, it cannot be blocked. The main goal is for everyone to use Bitcoin among themselves. It should not be converted into TL or dollar. This may not happen in the next 15-20 years. For now, it will be seen as an investment tool.

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