Bitcoin Forum

I read a few articles yesterday about the price of Bitcoin that touched the price of USD 24,000 in Iran, see the following article:

even up to 26000 usd

you can see all the market price here in irani local exchange

the questions are:
why is the price of Bitcoin in Iran is more expensive than global prices?
Is it really possible for a country to determine the selling price of Bitcoin?

It isn't. The "news" that Bitcoin was selling for $24,000 in Iran was based on the incorrect exchange rate - the subsidized exchange rate of 1 USD to 42k IRR set by the government for imports of certain goods. The actual exchange rate of 1 USD to 140k IRR gives the real price.

if it is a price that is not true, why is media coverage so viral that it makes us think positively about the imminent increase in Bitcoin prices. but that's possible, everything doesn't rule out the possibility. everything can be happen

It may hit any price on a non-liquid exchange with a squeeze. Declaring these prices is a way of manipulation.

If you go to google as search 'irr to bitcoin' it shows a table where 1 btc = 263259397.47 irr.

Then i take a look to localbitcoin and you are right https://localbitcoins.com/country/IR 873,245,733.56 IRR / BTC... For that rate you are right, they are selling bitcoins closeto $26k, if that's the scenario wait for a price bump.

But why oeleo say have some sense:


That way the 873k irr price isn't crazy at all.

Thank you for a clear and simple answer to this.  I was initially confused, and read so much random stuff before skimming the thread again. 

Haha, I wish that this (mis)information caused a pump today, but no dice :(

OP, a similar thread already exist here https://bitcointalk.org/index.php?topic=5017699.msg45262480#msg45262480 . You may want to lock this up except you intend on having a duplicate topic run parallel.

    I suspect that this is a misleading story. I suspect that when people use Iranian currency to buy BTC and then compare the artificially high "official" exchange rate for Iranian to US currency, it looks like people were spending $24,000 for BTC. But, as the article alludes to, the street value of Iranian currency is much lower than the government's stated exchange rate.  :-\

If you look carefully, you will find that the countries that currently suffering from hyperinflation or under authoritarian governence are also the countries that have the highest difference in BTC price. Of course, if you know somebody super trustworthy who can remit money into and out of the country then you have a great arbing opportunity, but that's easier said than done.

What should we so he took off would be nice ! Interestingly why in Iran is growing and we have no )

this is a rip off from Iranian new investor if its true its almost 4x the current exchange price of Bitcoin on Coinbase. this is more like a manipulation to rip some money.

Man I could have got a great deal buying in Iran why didnt I?!?! THis is ridiculous how could this even happen?

Poor articles written by stupid people. The price of BTC in Iran is exactly the same as anywhere else in the world. You just need to know that Iranian people do not have dollars. They use the local Iranian currency, which is sharply down, compared to the US dollar. I guess some people have calculated that price with wrong data. Quite likely the official exchange rate, which is fixed by the Iranian government, but totally out of touch with reality.

Yes, absolute right. And the inflation is to the moon and mars, too ;)

Iran's is much more isolated from the rest of the world, unfortunately so, too many sanctions and so I doubt if they have access to buy from international market as they cannot deal directly on USD for same reasons

Well, those values are possible only because the Iran official currency is losing value day after day, and they can't get dollars when they sell bitcoins, so of course they sell them at a higher price.

It's simple, dear
The exchange rate is the password to understand this apparently
In Iran there are two exchange rates for the dollar
The official price is less than 1/3 the real price on the street
I do not think the Iranian people are naive to buy BTC x4 almost.

Yes those qualities are conceivable simply because the Iran official cash is losing esteem for quite a while, and they can't get dollars when they offer bitcoins so obviously they offer them at a higher cost.

Actually in case of price this is same but this news was incorrect based on exchange rate which is caused by many impasses  also the price of btc is same in IRAN.

I think that it was earlier in south Korea bitcoin prices were much higher than market price.Recently the Iranian government had decided to declare bitcoin mining as an industry.Also earlier,iran government discussed to use bitcoin as secondary currency in order to bypass US sanctions.Now Iran is moving closer to be a bitcoin friendly country.It has been realised by its citizens and that's why such a huge demand for bitcoin and increase in its price.

if it is like that then this can be a business field for us crypto traders, by the way we all buy bitcoin on the global market and immediately sell it in the iran market to get multiple profits, but unfortunately some sources say we can't do that, only Iranians are buying and selling bitcoin in Iran

Such an event is impossible if a country is not problematic, because the Iranian currency is still overshadowed by sanctions from America, America cannot regulate bitcoin but can regulate dollar demand in Iran, which is the government's difficulty in providing dollars to buy bitcoin, the value of the Iranian currency can vary greatly to produce expensive bitcoin prices.

If this is true,  it wont last for long.  It will be manipulated by arbitrage practicers.  Another thing is you must be from their country to enable you to use their local exchange site.

It isnt. Dont You think, if it was like that, all decent news channels would write about it? More source criticism, please...

how can this case happen? even though what I know is that the price of bitcoin around the world is same, if what happens is a fact , there will be many bitcoin holders who sell it in that exchange, what exchange is it?

I think this is a price anomaly caused by the fact that Iran has large commissions for withdrawal of funds to the stock exchange.

It mus be a good news for Irinian investors but this might be for inflanatin and beside this I think If you think someone super trusted you can send money in the country then it is good.

There's a video of Alessio Rastani trying to exchange physical pounds for rials in Iran and nobody wants to buy because the exchange rates are so bad. Fiat exchanges are literally closing their doors because they're afraid of being bought out by foreigners. at current rates you can buy a good meal at a restaurant for $5. For the same money in the US you can get a coffee and a donut. The rates can be real but it doesn't mean that if you put coins for sale people will buy. $26000 is a fortune for them.

I have read about that news on some sites at the last week. That could be fat-finger-error with a huge instant up price tail that caused by a huge volume order ?

I think that, since the Iranian people do not have the dollar, they use the local currency so we can see the difference in price of Bitcoin. Beside this we might make a wrong calculation mistake.

I think this is not very good. It says how bad the situation in Iran is and how difficult it is for the population to own bitcoins. Perhaps in the future the situation will change but I think Iran is still far behind to implement the blockchain.

You are a Sr.Member in this forum how it is possible that you have missed this situation before?
There have been numerous accasions when this have happen:
1)Some country in South Africa, matbe it was  Zimbawe
2)And how you did miss Japan prices while in the bubble?

I also think like you, but will return to the price corresponding to the present.

these news articles about bitcoin being 25k in zimbabwe and 18k in nigeria etc are usually just bullshit.

Just like it's not true in this case either.

Its because they have KYC on their own exchange site and cannot trade or use other exchange site aside form their own. Meaning as they want to get involve in crypto mostly in bitcoin, they accept the risk and the price will sky rocket on thei own country. Hoping that this will also happen in the globe.

I think this is incorrect something to do with an exchange error in Iranian currency (Iranian Rial ) and BTC value. Anyways I assume that the price of BTC has to be somewhat higher because of the adverse restrictions in Iran. Hopefully this error in exchanges will be rectified soon.

All the articles cannot be taken as true.

If the Bitcoin touched 24k USD then all people will be sold their money at that time itself.

I really want that to happen in the market for sure and I am expecting the bitcoin may reach this destination value in couple of months.

For Iran people bitcoin it is a great opportunity to earn good money. So cryptocurrency has a bigger value in their country.

I also don't believe this news.
There is no real reason that btc price can be so much different in Iraq than in the rest of the world.
There is no country or government behind bitcoin so nobody can manipulate price in some country.

Isn't the price of bitcoin same as all over the world. Since when iran has different type of bitcoin. This article making people more confusing. It's like result of miscalculation.

..its not possible,i really think its as a result of misrepresented datas, in the exchanges.or something went wrong..

Beautiful arbing opportunity, but getting money across Iranian borders is not easy or so I hear. I have an Iranian friend who told me that there  is string rules about how money is moved in and out of the country, making it very difficult to work with.

The thing is the real exchange price of something is determined by the market and in a world where you can buy nearly anything with usd and almost nothing with iranian money its clear, that the USA can controll the exchange rate of their currency and so they can feign a demand thats actually not there and because every trade in the real world is based on us dollar the supply can almost never exceed the demand... and thats the whole trick so they can print more and more dollars as they go..

Did they found water in bitcoin? If yes, then we can expect high prices in saudy arabia too, be ready for next turn. At the moment I can't say anything on news but want to remind one thing: everyone may remember when cointelegraph caused fall in btc's price. This happened because korean exchangers had different price than rest of world (higher or lower - can't remembet).

I doubt that information, I think that a new country that legalizes bitcoin has no such potential.

Even Venezuela, until today Venezuela is still adapting to the crypto world, to create an effective crypto market is not easy.

Wait I don't understand, does this mean bitcoin has different market prices for different countries, because the price here is just 6320 USD

The whole thing is surprising to me too. It happened in Zimbabwe prior to their coup.
I thought if Bitcoin was decentralized the price should be flat everywhere.
Maybe such valuation depends on the stability of the local currencies and in relation to the dollar availability.

That really surprised me, in my country alone Bitcoin is only around $ 6411 now, following the market prices in the world. I am very confident that for the future the price of Bitcoin in all parts of the world will reach the best price as in the present Iranian country. I wish if it was fantastic for prices in Iran today. I praise that

I think its not true, we can check the price of bitcoin globally in the coinmarketcap.com in that website we can see the price different between the one market with other market, for 25000 USD? I think its impossible.

Can Bitcoin even really have massively different prices in different parts of the work.  Doesn't make sense.  I see that this was a false news story but I don't believe the prices will diverge by country much in the future.  If you have internet you should have access to fairly prices Bitcoin.

Why price of bitcoin reaches like that in Iran wherein that country not really known for crypto currency adaptation. Maybe a misleading article or just try to hype the price of bitcoin to increase investors, i guess. But whether if it's true, then it would be a good news for us holders, believers and investors.

This is unreliable souce and no one will believe this, just imagine that it is impossible for this nation to have a lot of dollar reserves so that they could cater many Bitcoin to fiat conversion in the future. So better do a deep research first before you believe to this non sense.

I have question. Isn't the cost of bitcoin same as all over the world? Since when iran has distinctive sort of bitcoin. This article making individuals more confounding. It's like result of erroneous conclusion.

I have address. Isn't the taken a toll of bitcoin same as all over the world? Since when iran has unmistakable sort of bitcoin. This article making people more bewildering. It's like result of incorrect conclusion.

Off course. Why not ?

Bitcoin is decentralized digital token, which can be evaluated in fiat currency globally. And as this is decentralized, no one control its price fluctuation. Buyer and seller within circumstances can make P2P transaction considering Bitcoin is commodity. And according to law of demand and supply price be fluctuated on market conditions and interest of buyer and seller solely.

This is a good news for those investor who hold this coin. But I don’t know how it is possible in Iran. I think its happen because of exchange rate.