Bitcoin in Iran touch 26.000 USD

[masterkiller]

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:

https://cryptoslate.com/local-bitcoin-price-hits-record-high-of-24000-in-iran/

even up to 26000 usd

https://thenextweb.com/hardfork/2018/09/06/bitcoin-price-surge-iran/

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

https://localbitcoins.com/country/IR

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?

[o_e_l_e_o]

why is the price of Bitcoin in Iran is more expensive than global prices?

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.

[masterkiller]

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

[LastHope99]

why is the price of Bitcoin in Iran is more expensive than global prices?

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.

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

[seoincorporation]

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:

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.

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

[tadzio]

why is the price of Bitcoin in Iran is more expensive than global prices?

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.

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

[Mpamaegbu]

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.

[Kaznachej123]

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:

https://cryptoslate.com/local-bitcoin-price-hits-record-high-of-24000-in-iran/

even up to 26000 usd

https://thenextweb.com/hardfork/2018/09/06/bitcoin-price-surge-iran/

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

https://localbitcoins.com/country/IR

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?

    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.  

[BALIK]

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.

[mafiajohngotti7]

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

[jepoy1109]

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.

[adamantasaurus]

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

[countryfree]

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.

[QuestionQuest]

why is the price of Bitcoin in Iran is more expensive than global prices?

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.

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

[onaiwusun]

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

[Alex_Kidd]

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.

[mohammedmattar]

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:

https://cryptoslate.com/local-bitcoin-price-hits-record-high-of-24000-in-iran/

even up to 26000 usd

https://thenextweb.com/hardfork/2018/09/06/bitcoin-price-surge-iran/

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

https://localbitcoins.com/country/IR

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'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.

[Hercerays]

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.

[coppied]

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.

[r32godzilla]

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.