Turkey isn't actually banning Bitcoin... just to clear the air
There has been some FUD that needs to be addressed regarding the Turkey news...
Turkey isn't banning bitcoin and crypto, period.
What they are doing is banning payments in bitcoin and crypto.
Meaning that companies can't accept bitcoin/crypto as a form of payment.
However, people can still invest in and hold crypto/bitcoin.
It sounds like they are trying to turn bitcoin into a stock where you can buy it on an exchange and sell it on an exchange if it goes up etc. Without doing too much moving of it.
While that sounds interesting in theory I am not sure how they will be able to ban payments yet allow people to hodl it.
If self hosted wallets exist, peer to peer can still happen on a large scale.
I expect other companies will try to go this route as well, but it will eventually fail unless self hosted wallets are banned as well.
If that happens we are going to have a real dog fight on our hands.
That would cripple the industry but also be very difficult to enforce.
Hopefully we are not heading that direction here in the United States...