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just listened to SNL, and I realized that I forgot to include the official inflation rate in Turkiye, this is USD to Lira for the past five years.
This is Bitcoin to Lira for the past five years.
But I guess stackers know these numbers are not real, and not really saying what is happening on the ground; a more practical sample I can share is 100-150Lira used to be enough to pay for a simple lunch up till 2021, but now can only buy a cup of latte ( if it's in Istanbul). However, 150 Lira can still get a decent lunch in many other small cities. I lived in istanbul for three years, and now, every time I go back, I feel money just like flying away and way less pleasant when you are around stressed people. ( But hey, things are still way cheaper here compared with many countries, especially the value you get from what you pay. )
And bonus, here is the art of choosing shops or services in Turkiye
  • The worst tier is those tailored to foreign tourists - if a shop has English only, staying away is the way.
  • The second worst are those tailored to foreigners or high-earning locals, oh these are the real sharks! for example, I used to live in an apartment in the European side of istanbul, and I remember the management fee used to be 700tl/month in 2021, and the fee was 3600tl/ monthly in 2023 on top of many other fees - these modern apartments are such a scam, everything is centralized and has many forced subscriptions.
  • The good but average ones are normally in Turkish only, these are everywhere once you are out of tourist areas.
  • The Great ones are those loved by locals - simply do some homework or ask around. Generally, there are old shops around the old town, and many of them are small family businesses, great quality but amazing price, I often think are they doing charity?
  • The REAl gem: the quiet craftsmen and makers who spent all their life crafting for one thing! Not only it's reasonably priced ( YES! Surprised! ) and such delightful experiences, not rushy, no sales tactic, no fancy packaging, but damn good quality ( once you tasted it, you can't go back ); it's quite hard to find tho, my secret solution is I do my researches from Turkish sources, ask around locals and travel all the way to meet them.
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Amazing write-up.
Great to see you are skill and sat stacking, but have you found your own purchasing patterns change at all too, over the time you’ve been there?
Locals take on credit, bulk buy and perhaps over-consume, but it sounds like if anything you’ve taken the opposite tact with Bitcoin up your sleeve. Only purchasing what you need for any given week. Is that accurate, and has it caused any confusion for locals/friends?
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Great to see you are skill and sat stacking, but have you found your own purchasing patterns change at all too, over the time you’ve been there?
I feel it's more like slowly climbing up to the consumer ladder, seeing what's inside, I've graduated from
stage 1. wow, it's so much cheaper buying some international brands here, I guess it could be due to
  • many products are made here
  • Lira inflation
  • brands need to adapt to local purchasing power
stage 2. hmmm actually, there are so many nice local Turkish brands, like way better.
stage 3. OMG, it turned out I can make my own things here with craftsmen!
Locals take on credit, bulk buy and perhaps over-consume, but it sounds like if anything you’ve taken the opposite tact with Bitcoin up your sleeve. Only purchasing what you need for any given week. Is that accurate, and has it caused any confusion for locals/friends?
correct, I only buy what I need; some local friends do the same like me, especially the ones earning foreign currency 👀 but I think cutting out over-consumption is a sure win in the long term - good for your body and the mind:)!
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Great post Natalia. I've been living in Istanbul for 3 years and I can confirm your findings. We're talking about these things a lot in our Turkish Bitcoin community Yirmibir. You can find us at https://yirmibir.org - we also have a telegram group: https://t.me/YirmibirBitcoin - hope to see you there! Selamlar!
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sağol:)
I actually joined the group before, but then I decided to stop checking all social media, ever think of bringing more Turk Bitcoiners into SN? 🤓
Excellent post!
I really like the point about using the inflationary environment as an opportunity to improve your lifestyle. Something very similar occurred to me with the much lower inflation we've experienced: basically, taking rising food prices as an opportunity to cut out a bunch of sugar and other crap from my diet.
I also found it interesting that reduced quality was so noticeable. I've been referring to that as "the intensive margin of shrinkflation".
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maybe everything is an experience, it's not about good or bad - what really matters is what you learn or grow from it:)!
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Living a Simple Life
That is the way.
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this one brings you back to focus on what really matters in life.
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122 sats \ 1 reply \ @quark 4 Jan
I think there is a period when people keep fighting inflation hoping for a recovery, It can take years and that's why some people don't realize, but suddenly it accelerates with hyperinflation and it is too late if you didn't save in Bitcoin. The Turkish lira charts look horrible. The risk of hyperinflation is too high.
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Once you slowly step outside and learn how to protect yourself with Bitcoin, then you see things more clearly and can even dance with the inflation 💃🏻
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121 sats \ 1 reply \ @AG 4 Jan
Such a great post @Natalia thanks for your writings! Other than using Bitcoin I've been always pro locals, buying local products and support local merchants is such an important factor, especially if you live in a place for log time, it also helps build the surrounding community.
I's hard for me to understand why there is cheaper, usually local products are much expensive because small local producers can't cop with the hi volume production, the factor that helps diminish the cost per unit. Maybe I'm wrong, never dig deeper enough to fully understand those dynamics.
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I's hard for me to understand why there is cheaper, usually local products are much expensive because small local producers can't cop with the hi volume production
Good question; I guess I compared the local products with the products from other countries I used to use; for example, all these so-called " organic skincare brands" in the EU or USA are mostly just a fancy marketing strategy when many products in Turkiye are naturally organic, and directly from nature.
The second thing is if you think long term, e.g. buying a hand-woven scarf with stories behind it that can be used for up to 10 years, that's like a steal 👀
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110 sats \ 3 replies \ @Diego 4 Jan
Thanks for your educational post. Especially since it comes first hand experience
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my pleasure:)
I think people should only share what they have been through, tried or done instead of empty talking.
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10 sats \ 1 reply \ @Diego 4 Jan
Are there any local brands that make good quality clothes with online stores? Even better if they accept BTC?
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There should be a few, but I don't buy already-made clothes anymore, I make mine!
There might be a higher chance for @Natalia to sell clothes one day, and BTC only:)) stay tuned for my loooong piece on over a year experiment on clothes making 😂🤓
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Great post. I've heard that prices in Istanbul airport are comparable if not more than other major airports. What comes across from your post is that it's really hard to come out on top against inflation. Even if you do all the right things you end up getting screwed up one way or another.
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I've heard that prices in Istanbul airport are comparable if not more than other major airports.
nomad hack: never buy anything in airports! and always do the work to find local shops in non tourist places:)
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Absolutely! Normally I'll just grab an empty bottle from someone else & fill that up with drinking water, water is all I'll need when flying anyway! ;-)
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Loved and zapped this one, Natalia.
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Great post @Natalia.
I usually use the big mac index (https://www.economist.com/big-mac-index) to demystify inflation in Turkey.
in January 2021 the price of a Big Mac was 14.99TL. USD exchange rate was 7.47TL/USD. Now a Big Mac costs 145TL (~10X) and USD costs 29.72TL (~4X) This means if they'd let the USD go, it should be at 70 - 75TL/USD
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That's not a bad way to compare. Maybe better to compare to some native brand, instead of imported products.
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indeed, and then would back to my conclusion - it varies from merchant to merchant, or maybe that number isn't so important after all? I mean better focus on what we can control right, by hand selecting good and honest people to buy things from:)
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thanks, and an interesting way to see it.
and sharing one more fun fact, Starbucks is cheaper than the local good cafe here 😂
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111 sats \ 1 reply \ @kepford 5 Jan
The rate of price increases is DIFFERENT with the inflation rate
This is often overlooked and misunderstood. When most people talk about inflation they are really talking about price inflation of goods not currency inflation. While currency inflation effects the price of goods it isn't immediate nor is it uniform. The price of goods is very complex. You have producers reducing the portions, diluting quality/purity, and finding more innovative ways to keep prices down. This masks / distorts the affects of currency inflation. Many things other than currency inflation will affect prices as well.
The other interesting thing I learned last year about inflation is to start thinking about the affects of US dollar inflation and how the effects are much different on other nations vs. the US. At least in the US sometimes we do get some positive effects of money printing. New infrastructure for example. Its still not worth it but we get something. Other nations do not get these benefits. Only the negative effects
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The price of goods is very complex. You have producers reducing the portions, diluting quality/purity, and finding more innovative ways to keep prices down. This masks / distorts the affects of currency inflation. Many things other than currency inflation will affect prices as well.
correct!
Other nations do not get these benefits. Only the negative effects
not really, it actually depends on how you see it, for example
  1. more exports from Turkiye thanks to weak Lira
  2. more tourists coming here, especially medical tourism
it's really interesting in this inflation dance, but you need to make sure you are on the right side!
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100 sats \ 0 replies \ @kepford 5 Jan
Thank you so much for sharing. It is so rare to get such a good first hand report from a non-US bitcoiner on these topics. Its very interesting to read.
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I respect how you take the time out to seek local craftsmen and either buy directly from them or collaborate with them. We keep telling ourselves that we have no time, but if we live a life true to ourselves, we will spend time on the priorities that matter most to us. At least that’s what I got out of this post. Thank you for sharing
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We keep telling ourselves that we have no time, but if we live a life true to ourselves, we will spend time on the priorities that matter most to us.
yes, time is all I have! and now I've also started testing making things for the people I care, I want to make the best I possibly can, and happy to take away their burdens by endless searching and finding yet might end up buying BSs.
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236 sats \ 1 reply \ @birdeye21 4 Jan
Natalia I always admire the proof of work. Always bringing incredible pieces with every post..
you can't buy freedom, you need to earn it
Great insight that I should've understood sooner. I got involved in financial markets years ago hastily thinking the former, but (along with the help of bitcoin) have come around to understand the latter. Was too easy for me to get caught up in it. I have an addictive personality, always needs to be well channeled.
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I used to work in finance too, and then I realized something was "wrong" - why are so many these so-called ( fiat ) rich people are so anxious and worrying deep down? I mean, aren't you supposed to be happy and free with all this money?
two simple examples:
  • many of them are stuck in places where they don't feel like, like lack the courage or skills to move to other places, even they can buy all the passports they want, still mentally not free.
  • the money sitting in the banks that isn't even theirs, so many are worrying the accounts or their businesses might be frozen if they say or do something wrong.
236 sats \ 15 replies \ @OgFOMK 4 Jan
My sister in law went to Istanbul to get an operation. She received excellent medical care and it was a good value. My wife went to visit her and after all of the photos she took I want to visit.
Great write up. Yes, skills agr5ee much better than money. I certainly believe that those with skill who are not Bitcoin plebs now will have no problem getting paid in Bitcoin in the future.
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normal skin care is great too
I'm only saying this because I think you might possibly be receptive to it (most ppl aren't).
The best skincare is to not put anything on your skin. Our skin is best at caring for itself. It produces sebum and sweat which protects and moisturises the skin naturally (and with a feedback loop). If you put other things on the skin, or use soaps or detergents to 'clean it', then this interferes with or strips away the sebum coating. The only thing you should wash your skin with is water. (Of course, for hygiene reasons it's good to wash your hands with soap, but no other body part needs soap or detergents, including your hair).
This approach is called 'water only'. It leaves you with visibly glowing, vitally healthy and 'younger looking' skin. I've practised it for decades and have received compliments from intimate partners on how soft, smooth and 'young looking' my skin looks and feels. Also, no I don't smell bad (the conclusion that ppl often erroneously leap to). Bad body odour is usually a product of bad diet, sickness or other bodily imbalances.
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211 sats \ 4 replies \ @OgFOMK 31 Jan
You've taken the time to write. I'm sceptical about your practice but I'll acknowledge that I've read this. If you have pure, fresh water and everything you eat is perfect then maybe this is true.
I take cold showers to prevent my pores from absorbing chemicals through the water or to minimize this. I agree that you will stink if you eat incorrectly. I used to use a fancy Dr. Bronners soap for about 30 years. It's good stuff. Now I just use regular soap that my wife gets.
I have practiced Pranayama, yoga breathing, for 35 years and my diet is mostly lacto-ova, pescatarian and vegetarian for 38 years. I live near the ocean so that's what my family has done for thousands of years. We live in a time now where food, healthcare, work and spiritual practice have been perverted by sorcerers who strive to extract wealth by harvesting humans.
Humans are a very special life form. We are divine beings. Maybe you can write a detailed post in the ~health territory about this subject?
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I have practiced Pranayama, yoga breathing, for 35 years and my diet is mostly lacto-ova, pescatarian and vegetarian for 38 years.
Maybe you can write a detailed post in the ~health territory about this subject?
maybe you should too - it seems to have many interesting stories and works behind:)
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292 sats \ 2 replies \ @OgFOMK 31 Jan
Here's today's
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wow, respect!
The only thing you should wash your skin with is water.
yes, I learned this from a lady before - randomly met someone in her 50s, but her skin was so great! then I asked what is the secret ? she told me she only uses water and rose water, then hair and body with olive oil soap.
Now I normally only use water to clean my face, use soap when ache happens ( but I stopped having aches now, quite interesting ) or when I feel like cleaning it; I use water or soap for for body, then moisturize it with jojoba oil.
Of course, for hygiene reasons it's good to wash your hands with soap, but no other body part needs soap or detergents, including your hair
this is fascinating! I've met someone who told me he only uses water to wash his hair, and his hair is not greasy at all; now I'm using soap and with AVC to soften it, it's working nice, but not sure how things work with water only. 😳
Happy to learn more skincare hacks:)
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now I normally only use water to clean my face, use soap when ache happen or I feel like cleaning it; body is water or soap sometimes, then moisturize it with jojoba oil.
Actually, this sounds like a pretty good regimen, especially if you're using the handmade olive oil soap you talked about above. Jojoba oil, as you probably already know, is one of the oils that has a makeup and properties closest to human sebum, so it's a good choice if you do still want to put an oil on your skin.
(I would still argue that your own sebum is better, as it's being produced by your own body uniquely for you, and thus has a makeup perfectly suited to moisturising and protecting your own skin. So best not to remove it in the first place. But I also don't mean to be too argumentative, so yes again, jojoba oil is an excellent choice if you do still want to use an oil.)
Also, if you're using the same handmade olive oil soap and (diluted) apple cider vinegar on your hair, that's a pretty good regimen too. I sometimes use a little diluted ACV on my hair too, but no soap or shampoo or conditioner. However, I only switched to doing this about five years ago (while I've been water only on my body for much longer). You do need to go through a transition phase, but once you come through that you can get to a really nice place with your hair. (The transition phase is where your body is readjusting its sebum production for your scalp; it has to learn to produce less, because previously it was producing more to compensate for it being regularly stripped away by detergents in shampoo.)
I might take up @Nuttall's kind suggestion to do a fuller post on this topic in the ~health territory. (Thanks to your kind zapping, I see I now have enough sats to do a post there.) I used to comment a lot in reddit's r/nopoo sub (and also set up a small wateronly sub there) but of course, have left reddit behind now.
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Actually, this sounds like a pretty good regimen, especially if you're using the handmade olive oil soap you talked about above. Jojoba oil, as you probably already know, is one of the oils that has a makeup and properties closest to human sebum, so it's a good choice if you do still want to put an oil on your skin.
yes - did quite some homework myself:))
So best not to remove it in the first place
I guess I would use only water more often then.
Also, if you're using the same handmade olive oil soap and (diluted) apple cider vinegar on your hair, that's a pretty good regimen too.
Yes, diluted apple cider vinegar! It makes my hair so much softer, and it cleans away the possible soap remaining too:)
You do need to go through a transition phase, but once you come through that, you can get to a really nice place with your hair.
Maybe I should test it this winter, not sure how long the transition phase will last, but isn't it a bit annoying with oily hair or even dandruff 👀
have left reddit behind now.
Good choice! SN is way more fun:) Looking forward to your post ⚡️
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The transition stage is certainly challenging, I'm not going to pretend it isn't. The 'worst' of it lasts for one to two months but it still takes some time after that to properly reset your scalp's sebum production. (But while your hair will definitely be 'oily' during this time, you shouldn't develop any dandruff problems.) The mindframe you need to be in (or what worked for me at least) is that the greater level of sebum on your hair during the transition phase is still good for it, and so your hair is getting something like an extended bath in a very good natural treatment. What also helps greatly is doing a lot of combing of your hair during this time. This works the sebum through your hair (and away from the scalp). I did a lot of combing during my transition. (You'll want to have some nice wooden or metal combs on hand.) Also, using diluted ACV helps during the transition too. Finally, seeing as you're living in Turkiye, you could wear a head scarf over your hair during the transition, to help with any possible feelings of embarrassment about your hair looking 'oily'.
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I did a lot of combing during my transition. (You'll want to have some nice wooden or metal combs on hand.)
do you know which one is the best for hair? I made one with horn before, and I can see how much dead skin or dust it collects!
you could wear a head scarf over your hair during the transition, to help with any possible feelings of embarrassment about your hair looking 'oily'.
oh good hack! I've collected some beautiful head scarves, and I'm getting a feeling that head scarves protect your hair too - Turkish mums always wear them and are so pretty with those beautiful oya. 🤩
This is such a good and thorough description that I'd like to use it as a reference for a podcast episode soon, of course with links and so on!
Would that be OK with you?
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happy to learn more hacks from fellow stackers!
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110 sats \ 4 replies \ @xz 4 Jan
Really enjoy reading first-hand accounts. One part of the world I've had in mind to visit, and always ask for a visitors opinion on how they felt. If I remember, last time a friend came back from Istanbul, after seeing pictures of boat trips from two years ago, I asked 'is it a nice place?' the reply was, 'it is and it isn't'.
Not sure I'd have any applicable knowledge on hacks.
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thanks for reading:)
istanbul is indeed beautiful, but there are more hidden beauties in Anatolia 🤩 not to mention all the past knowledge and mixed culture being accumulated through time, much POW there.
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52 sats \ 2 replies \ @xz 4 Jan
That's a beautiful scene indeed [reaches for map..] Is Anatolia the area with the mountain range that has a very unusual smooth facade (looks like a natural sculpture?)
Maybe I'm mistaken but one of my favorite views from somewhere in the region, perhaps.
Questions (if I was to take a trip)
How does Lira work with denominations in daily payments? (I'm a bit of a numismatic freak!)
How about mobile payments and banking there? Is that something increasingly adopted?
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Is Anatolia the area with the mountain range that has a very unusual smooth facade (looks like a natural sculpture?
it has many diversities in Anatolia - any chance that the photo is from Cappadocia?
How does Lira work with denominations in daily payments? (I'm a bit of a numismatic freak!)
bank notes? 5, 10, 50, 100, 200 lira, and for easy understanding 100 Lira is currently 7.7k sats:)
How about mobile payments and banking there? Is that something increasingly adopted?
Actually quite advanced, banks are everywhere, and many digital banks; you can pretty much pay with cards in most places, especially in Istanbul or any big cities, but if you are more adventurous going to less explored places, carrying cash is always better, and most likely with discounts this way - many Turks prefer accepting cash:)
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110 sats \ 0 replies \ @xz 4 Jan
That's nice to hear. I don't know whether I'm conflicted being an ardent supporter of Satoshi and cash, but feel there's something culturally intrinsic about using cash, as well as the privacy it affords.
any chance that the photo is from Cappadocia?
Just checked and that's correct. Maybe the area that's popular for balloon trips.
Thanks for the currency breakdown. Good to know universal Moscow Time.
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I often think to myself, how come a self-sufficient country like Turkiye suffers such big inflation? I asked many locals but got different answers; some said it was due to bad management from politicians, some said it was due to many imported goods, some said it was due to oil, etc. Maybe nobody knows? But one thing for sure is that thanks to the massive money printing 🖨️
Its economical warfare, that is all...
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