Bitcoin Forum

The popularity of crypto currency in Iran is growing because of economic uncertainty

Reports indicate that the use of Bitcoin in Iran continues to grow, despite the current political turmoil and state censorship in the country. Iran witnessed large-scale protests last week, the media reported that so far more than 20 people were killed in demonstrations. Protests have been associated with the discontent of the population with high unemployment, inequality, housing costs and other economic problems

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So what's the use of such protests, it is only causing chaos, the government would not seek to help them if the people itself do not co-operate. Bitcoin is gaining popularity not only in Iran but all over the world, that's because of its damn price not because of its reason for existence. Anything which has a greater advantage on people in terms of money give attraction to people. Orderliness is a must in countries like Iran, the US already despises Muslim countries, which may not end well for Iran or its people. People need to come out of their fucking stupidity.

This is good and bad news at the same time and I feel conflicted :-\. Great to hear that Iran is getting involved more in cryptos, sad to hear that is the reason why. But now I hopes that Bitcoin can be savoir for the people in Iran as it has been for many people all across the world in similar life situations.

Interesting. Can we label Iran as Venezuela 2.0? Both Iran and Venezuela are nations rich in oil who could have strong economies and good living standards for its respective population, yet somehow that never appears to happen. I would very much be interested in seeing an analyst, journalist or someone in the media cover exposition on the reasons for this, btw. It seems unfair for bitcoin to be attacked and criticized constantly in the media and for contributing reasons behind Iran and Venezuela's economic failures not being worth mentioning by anyone.

Not to be a doom and gloomin, negative nancy, but I expect this trend to continue throughout 2018 all over the world. For americans and others living in wealthier nations, Iran and Venezuela could be our future if things don't change.

And this is why crypto won't die. The planet is in financial turmoil. HODL!!!

Bitcoin is adopted for several reasons and one of them is to protect yourself from devaluations this is nothing new, in some countries many used the dollar as a way to escape devaluation but with bitcoin now on the scene some are using it instead of the dollar and this is good news because it isn't a secret the economy of the United States isn't on its best shape.

Hopefully with the help of crypto and blockchain, the people of Iran will be able to find some sort of relieve from their oppressing government.

As was said before, bitcoin shines light on the people of the countries with troubled economy. With the massive devaluation of a nation's currency, bitcoin is the only way out that these people can cling to in order to not fall together with their failing economy. Zimbabwe and Iran could potentially use bitcoin for their own transactions to ensure that their not getting ripped off, or to at least save their own money from devaluation and wait until everything comes to order again (which sadly I think wouldn't happen in their troubled economies). While bitcoin brings hope to these people, it isn't easy to acquire bitcoin like what it was 2-3 years ago. Hopefully in the future bitcoin would also be available through SMS like the M-pesa system they have in Africa so that everything would be accessible and easier to acquire whenever they need it.

Reliable crypto-currency with limited emission gives a good opportunity to save savings in conditions of high inflation of the Iranian rial's currency.
Iran's inflation,%
year value
2007 25.4
2008 10.8
2009 12.4
2010 12.4
2011 21.5
2012 30.5
2013 39.3
2014 17.2
2015 13.7
2016 8.0

Assuming those numbers are official, that is what the government is willing to recognize, most of the time the inflation is much worse, this happened in Venezuela, the government gave some numbers that were high but the international community stated the number was a lot higher, this is why bitcoin is necessary, to protect us from the greed of governments and their mistakes.

Already the Iran government discussed last year to use bitcoin too as primary currency to bypass the US sanctions which has led the nation towards economic uncertainty.Now people being unemployed have themselves got attracted towards cryptocurrencies.