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Author Topic: Why BTC rates in Iran is so high  (Read 355 times)
cryptofan999
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September 09, 2018, 04:02:22 PM
 #21

Although I think it might be a fake news, before deciding on this matter, you should know about this news very well and check that the incident is true. Because Bitcoin's prices are generally the same everywhere. But if there will be a another reason behind it.
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sakrosak
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September 09, 2018, 04:10:10 PM
 #22

where did you get the news from? currently many currencies experience a decline in the exchange rate against the dollar, not least the iran currency. you should include a source link of information in the thread.

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September 09, 2018, 04:16:22 PM
 #23

Everything is complicated there, so it's better not to delve into it.
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September 09, 2018, 04:18:12 PM
 #24

Although I do not know whether the news is true or not. If you are certain that the fact is true, then it may be based on Iran's economic situation. Because the price of fiat currency in Iran is going down a lot.
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September 09, 2018, 04:59:35 PM
 #25

It may be due to the decrease in the price of Iran's Fiat currency. Or there may be other reasons behind it. But actually verify that the news is true and then make any decision. Because it is necessary to take precautions in taking any decision.
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September 09, 2018, 07:31:13 PM
 #26

"The value of rial is going down day by day.if you convert it in dollar you might not be benefited. lots of experienced people are here for advice you.talk with them and take right decision.
"
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September 10, 2018, 10:29:55 AM
 #27

It's may occur because of the decreasing the value of the local fiat of iran. But it's should be trap who will be interested about it. Be careful about that and have a safe invest on crypto.
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September 10, 2018, 10:53:03 AM
 #28

It's should be scam news. Because scam are spread out in online with crypto and everyone need to be avoid these otherwise they should not be benefitted by crypto.
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September 10, 2018, 11:20:46 AM
 #29

If fiat decreasing it's value then it should bee wiser decision to buy bitcoin and hold it rather then hold fiat because bitcoin is most fluctuated and it's one of the best digital currency all over the world.
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September 10, 2018, 11:45:41 AM
 #30

It is probably for new launching that very recent Iran govt has announced it acceptance. May be many of the crypto lovers are buying Bitcoin so naturally price rising . It may be a reason. I am not sure.
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September 10, 2018, 06:20:24 PM
 #31

This because Iran Govt has declare it legal a few month ago. I think most of the people from crypto lover are collecting Bitcoin buying it from seller. This may be the reason of High price.
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September 10, 2018, 06:37:23 PM
 #32

Don't be confused hearing this news. Everywhere in the world the price of Bitcoin are same. It is decentralized system. Price in Iran is high at Irani currency, because the price of Irani currency i so low. It's not a topics to be confused.
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September 10, 2018, 09:18:31 PM
 #33

Many countries like Iran Turkey Venezuela Argentina and Zimbabwe are going hard in Crypto because of their financial crisis and hyperinfaltion.

What this means is that people see Bitcoin as a store of value like gold which is a good sign for crypto supporters.
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September 10, 2018, 09:35:33 PM
 #34

Maybe because Iranian government forbid the use of Bitcoin (not certain about that) and maybe because of the US sanctions on Iran making any deal like that illegal.
Be careful before making any decision to avoid juridical problems.

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September 10, 2018, 09:49:31 PM
 #35

Perhaps you might be one of the victims of a fake news spreading from a website that didn't took the time to validate and check sources. Doing a quick search, the rate of 1 bitcoin on Iran is 110,000,000 rial at its peak, or if converted to USD, about $2400 more or less which is very far from the reported value. Also do keep in mind that the Iranian rial is falling hard against the dollar as we speak, so any recorded value on Exir's website might have been affected by the rapid change of valuation of the Iranian rial against the dollar.
Along with that, there was free electricity in Iran,at one point, so people were mining like hell. Now too, the electricity is very cheap there. That plays a big role I assume.

The price per btc is around 850,000,000 Rial,in Local bitcoins: https://localbitcoins.com/country/IR, and its fucking crazy,cause its worth like 20,000$. We are having Zimbabwe bitcoin version 2.0 here.


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richminded
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September 10, 2018, 11:28:16 PM
 #36

Perhaps you might be one of the victims of a fake news spreading from a website that didn't took the time to validate and check sources. Doing a quick search, the rate of 1 bitcoin on Iran is 110,000,000 rial at its peak, or if converted to USD, about $2400 more or less which is very far from the reported value. Also do keep in mind that the Iranian rial is falling hard against the dollar as we speak, so any recorded value on Exir's website might have been affected by the rapid change of valuation of the Iranian rial against the dollar.
Along with that, there was free electricity in Iran,at one point, so people were mining like hell. Now too, the electricity is very cheap there. That plays a big role I assume.

The price per btc is around 850,000,000 Rial,in Local bitcoins: https://localbitcoins.com/country/IR, and its fucking crazy,cause its worth like 20,000$. We are having Zimbabwe bitcoin version 2.0 here.
Seriously? This is a huge price compare on the ordinary market. Well, I'll make time to research more about this if so I can confirm on my own if its true or not. Free electricity means unlimited mining, that's crazy, anyway congrats to all Iranians because they can now invest in this good technology and I hope every country will do the same thing.

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September 11, 2018, 09:07:51 AM
 #37

Although I think it might be a fake news, before deciding on this matter, you should know about this news very well and check that the incident is true. Because Bitcoin's prices are generally the same everywhere. But if there will be a another reason behind it.


You could if you had a bank account in Iran. However, it doesn't mean it'll make you a profit whatsoever.

I reckon the price hike is because most people in Iran currently are seeing the legalization and official recognition of bitcoin, and taking advantage of it as a means to buy foreign currencies and get out of their official currency which is relatively unstable, with an inflation level of over 200% P.A.

Usually when there is such a huge arbitrage opportunity like this which theoretically could work, it very rarely works practically. Since Iran's economy is unstable and most likely has capital controls, I think you'll struggle to get any Iranian rials out of the country. Illiquidity of the rial, capital control, as well as the fact demand is high within the market is why prices are so artificially high in the first place.

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September 11, 2018, 09:24:53 AM
 #38

I wouldn't even think of buying Bitcoin using Rial as right now, Rial is slowly failing and Iranian people are also thinking of moving to Bitcoin from their traditional currency. Moreover, the news that you are talking about was just another rumour that was spread by some third party that must have wanted to see how people will be reacting or panicking after hearing this.
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September 11, 2018, 10:01:50 AM
 #39

I am not sure about the news is true of false. But if its high in Iran than it can be reason that they don’t have a remarkable numbers of platform for investments.

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September 11, 2018, 12:49:05 PM
 #40

Clearly, Iran has significant money issues right now. With a fiat falling that quick bitcoin must appear to be awesome. Be that as it may, pitching to the general population of Iran may get you an extensive jail sentence. The authorizations you hear a considerable measure about apply to you also. U.S. residents and U.N. part countries may not work with Iran.
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