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Author Topic: How to tell Iran customers to get Bitcoin to pay the bill?  (Read 4116 times)
HorseRider (OP)
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February 04, 2013, 02:07:50 PM
 #1

I don't know where to post this question, and may be the Discussion is the best place for it.

The news has spread the rumors that the Iran people are trying to buy food and other goods by paying Bitcoin, since the U.S. embargoed Iran and frozen the bank account and wiring methods of Iran. I have a friend are doing regular business with Iran customers, and the Iran customers have to wire their money to Dubai first and then wire it to China. The fee is very expensive and my friend has to wait the money for a long time. My friend want to persuade the Iran customers to pay with Bitcoin. Then here is the question:

How Iran people can get some bitcoin if he cannot mine it?


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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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February 04, 2013, 02:15:49 PM
 #2

That's indeed a interesting question. I can't think of a solution, that wouldn't make this even more complicated.

I'm interested to see some proposals.


Oh, maybe ripple could be a possibility?

All previous versions of currency will no longer be supported as of this update
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February 04, 2013, 02:24:00 PM
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Q: Who in his right mind would sell a nontrivial amount of Bitcoin for Iranian currency.
A: No one.

Sorry, but tough titty. Maybe it is not that hopeless if they have something of value like gold, oil etc and can actually deliver it. Even then all those embargoes do not help much. It sucks to be on the receiving end of modern "cold warfare" AKA "currency wars".

Nevertheless, let's assume they can set up some kind of local exchange trading bitcoins for whatever of value they may have at whatever the market sez it worth. Here you go, they have breached the blockade at least to some degree and Bitcoin immediately classified by some as "enemy of the state" and "treasonous financial instrument", lol,  and by some as a "strategic resource".






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February 04, 2013, 02:34:19 PM
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We have discussed this issue before and yes, sure, it is an issue. If there are 0Ƀ in Iran, you will not bootstrap a 10Ƀ economy there but if people can use bitcoins in Iran, they will find ways to get them in.

There are many Iranians that receive support from their families abroad and bitcoin is the cheapest way not only to pay you while in Iran but also to send value to somebody in Iran from the US for example.

It's a hen-egg problem. Right now very few people see value in Bitcoin in Iran, so they ask their relatives to send USD via Dubai or whatever at a 40% loss. If they find out they can sell bitcoins in Iran for 10% commission, they will change their mind, so please offer stuff to Iranians (if you know you can deliver) and let people know. Money will find it's way.

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February 04, 2013, 03:21:04 PM
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It's impossible for the currency to take off when you can't exchange it easily.  The are very few ways to get it into the country.  Foreign nationals living in Iran can trade bitcoins to people for their expenses, or Iranians can sell digital goods and services for bitcoin, as artist Mohammad Rafigh is doing.  It's the same deal with Argentina.

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February 04, 2013, 03:33:22 PM
 #6

Remittances are how you bootstrap bitcoin in a place like Iran. Iranians can have their relatives who live abroad send them bitcoins and those bitcoins can be traded internally to the people who want to use them to pay for imports.
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February 04, 2013, 06:04:41 PM
 #7

Q: Who in his right mind would sell a nontrivial amount of Bitcoin for Iranian currency.
...

A: A person visiting Iran  and / or wishing to purchase goods in Iran for export in order to obtain Iranian rials at a significant discount on the un-official or black market. It is the same phenomenon that is happening in Argentina with the "blue rate" and happens everywhere where there is a falling currency and strict exchange controls. There is an official rate and an un-official or black market rate with the latter being a lot more favorable to a visitor or for someone wishing to purchase goods in Iran for export.

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February 04, 2013, 06:31:27 PM
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https://localbitcoins.com/country/IR
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February 04, 2013, 06:36:59 PM
 #9

You can sell bitcoins to them and cash it in Dubai...
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February 04, 2013, 06:43:06 PM
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Q: Who in his right mind would sell a nontrivial amount of Bitcoin for Iranian currency.
A: No one.

While true, it doesnt refute the point. Iranians want out of the Rial too. They already try to hoard or acquire dollars as they are in high demand there.  Bitcoin could (and to a tiny extend, does) provide the same purpose. To get bitcoins, its the same problem as to get dollars, they need to sell goods and services for bitcoin. Iran is not a third world country (yet), it has a fairly sizable economy.

Quote
Nevertheless, let's assume they can set up some kind of local exchange trading bitcoins for whatever of value they may have at whatever the market sez it worth. Here you go, they have breached the blockade at least to some degree and Bitcoin immediately classified by some as "enemy of the state" and "treasonous financial instrument", lol,  and by some as a "strategic resource".

Thats more than a stretch. AFAIK, its not illegal to do business with Iranians, its only that Iranian banks have been cut off the Swift network, making it very hard to do so in reality. I think we all know of a viable alternative to that, dont we?





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February 04, 2013, 07:00:59 PM
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They can buy bitcoins from Dubai
https://localbitcoins.com/country/AE
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February 04, 2013, 07:31:49 PM
 #12

How would a switch to bitcoin look like?

Version 1 (unlikely): The government hoards a million Bitcoins and then publicly announces to give 0.01 micro BTC (or so) for every IRR which would look like a big scam:
Currently:
20,000IRR = 1USD = 0.05BTC
1IRR = 2.5uBTC
but they also announce to sell their oil for bitcoin which would get the exchange rate to x250 instantly.
Other powers (USA) would bomb Iran back to the stone age because they find clear evidence of WMD.
Bitcoin wins.

Version 2 (likely): Under the radar remittance payments provide an increasing in-flow of bitcoins and a local market like localbitcoins evolves to arbitrate between those needing store of value and those needing legal tender.

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February 04, 2013, 07:42:47 PM
 #13

Iran evades sanctions by trading oil for gold in Turkey then smuggling it to places like Dubai. No one wants Iranian Rial, but if they could pay in gold then I'm sure they could find someone to sell them bitcoins.

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February 04, 2013, 09:35:53 PM
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Sell oil for Bitcoins

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February 05, 2013, 12:51:10 AM
 #15

Is it possible to send things out of Iran? Or are even letters/packages very tightly controlled?
Surely there must be some products (even if just souvenirs) in country with such rich history that would sell without problems on the Internet? (for bitcoins)?

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February 05, 2013, 02:50:39 AM
 #16

I suppose there are currently 3 ways bitcoins can go to Iran.

1. Family in a different country wants to support their Iran relatives... so they might send them bitcoins
2. Someone in iran sees a market for bitcoins and gets them in somehow and starts selling them locally on localbitcoins
3. relatives who received bitcoins from family outside country trades them to someone else for something else


right?
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February 05, 2013, 03:48:25 AM
 #17

Q: Who in his right mind would sell a nontrivial amount of Bitcoin for Iranian currency.
A: No one.

Sorry, but tough titty. Maybe it is not that hopeless if they have something of value like gold, oil etc and can actually deliver it. Even then all those embargoes do not help much. It sucks to be on the receiving end of modern "cold warfare" AKA "currency wars".

Nevertheless, let's assume they can set up some kind of local exchange trading bitcoins for whatever of value they may have at whatever the market sez it worth. Here you go, they have breached the blockade at least to some degree and Bitcoin immediately classified by some as "enemy of the state" and "treasonous financial instrument", lol,  and by some as a "strategic resource".







Iran is already trading with Gold on the national level. (mainly with Turkey I believe)

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February 05, 2013, 05:47:59 AM
 #18

Iranians should run VPN services for Bitcoins, so we can all get Iranian IP addresses to run Bitcoin nodes on.
Then the Iranian Bitcoin scene will look much bigger than it is - and some Journalist will hype it.. and then..    I dunno.. we all get thrown in jail or something.

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February 05, 2013, 09:13:07 AM
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Iranians should run VPN services for Bitcoins, so we can all get Iranian IP addresses to run Bitcoin nodes on.
Then the Iranian Bitcoin scene will look much bigger than it is - and some Journalist will hype it.. and then..    I dunno.. we all get thrown in jail or something.

There are iranian proxies, if you are interested to see how the internet looks from within the embargoed mullah state. Most Iranians surf on external proxies to precisely not see this shit.

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sethsethseth
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February 05, 2013, 01:29:23 PM
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Iranians should run VPN services for Bitcoins, so we can all get Iranian IP addresses to run Bitcoin nodes on.
Then the Iranian Bitcoin scene will look much bigger than it is - and some Journalist will hype it.. and then..    I dunno.. we all get thrown in jail or something.


I would get an Iranian VPN as long as I could connect to a second vpn through the Iranian one to avoid the censorship.  I would trust the Iranian VPN provider to not hand over my data to the US government more than anyone else.

SealsWithClubs poker room has  over 400 players online. Buy in from .01 to 60btc.      BTCSportsMatch lets you bet sports with vig free lines!  Best kept secret in bitcoin....          LocalBitcoins.com is very user-friendly now for bank transfers.  You don't have to live close to trade when in the same currency area.           
Electrum client is awesome. Try it. And please stop sending bitcoins to sites run by security newbies, or don't complain when you lose everything.
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