Iran and Bitcoin....

[Lucozade35]

Russia, China and the USA say BTC is not money. So Iran could get around all the sanctions by using the BITRO DOLLAR ! The problem is 120 oligarchs need more than 33% of their Sovereign wealth. China needs to keep building never ending empty cities to inflate GDP and the USA just loves that RESERVE !

[leopard2]

countries that suffer from sanctions should embrace bitcoin

how easy would it be for China to pay Venezuela or Iran with bitcoin ... maybe this is already happening?

[FeedbackLoop]

countries that suffer from sanctions should embrace bitcoin

how easy would it be for China to pay Venezuela or Iran with bitcoin ... maybe this is already happening?

No. Venezuela, Iran and China all have their own oligarchs who benefit from the fractional reserve system in place there.  That takes precedence over allegiance to country.

[bitvestor]

Welcome them with a HUG, better then Russia right? They still thinking of regulating not yet regulating.. And they never said illegal, so their senses is better in this aspect..

[jadehorse]

btc for Iran could be another way for transfering money, like hawala for example. If other countries accept, it of course

[RixDollar]

What would the penalty be for violating their "regulations"? 

[S4VV4S]

What would the penalty be for violating their "regulations"? 

Getting stoned in public, and I don't mean smoking ganja and getting stoned

[Blinken]

Reading these third world pronouncements on bitcoins (or any advanced technology) is always hilarious.

You figure your politicians in the United States are pretty stupid, but it is nothing compared to the stupidity and poor character you find in global backwaters. In places like central Asia, its just one nabob after another constantly looking for some bribe or handout. It's pathetic.

Luckily bitcoins are pretty much immune to these morons, because they don't even own computers much less know how to use them (unless you are counting a cell phone as a computer).

[leopard2]

countries that suffer from sanctions should embrace bitcoin

how easy would it be for China to pay Venezuela or Iran with bitcoin ... maybe this is already happening?

No. Venezuela, Iran and China all have their own oligarchs who benefit from the fractional reserve system in place there.  That takes precedence over allegiance to country.

Yeah isn't that fascinating, how mysteriously the fractional reserve fiat scam is so powerful, that it brings all the governments together no matter how large their differences are?

When it's about exploiting and enslaving people, all governments are on the same page. 

[qiwoman]

I personally think if Iran made Iran Coin or something like that it would gain a lot of support from all their friends and sympathisers. Bitcoin needs al ittle bit of regulation so it doesn't go completely haywire until,a a total transition is made from fiat into a digital currency System. Both Govts, and lay people need time to adjust and proper infrastructure put in place for the free world wide use of BTC.

[farlack]

I personally think if Iran made Iran Coin or something like that it would gain a lot of support from all their friends and sympathisers. Bitcoin needs al ittle bit of regulation so it doesn't go completely haywire until,a a total transition is made from fiat into a digital currency System. Both Govts, and lay people need time to adjust and proper infrastructure put in place for the free world wide use of BTC.

Irans friends and sympathizers? Who? Hezbollah? I think they're the only ones. Probably North Korea also.

[sifter]

No one cares about Iran.

That's quite harsh

Very ignorant too, especially if he/she is American.
Why do you think the U.S. wanted to go to war with Syria?

Pure arrogance that's why.

[zimmah]

The only thing that would interest me from Iran is if they'd accept bitcoin for oil.

Anything else they say or do has little to no effect whatsoever. The country is too small to matter if not for their oil.

Anyway they seem to be positive about bitcoin and actually recognize it as a seriously competing currency. Which could lead to more.

[InwardContour]

I personally think if Iran made Iran Coin or something like that it would gain a lot of support from all their friends and sympathisers. Bitcoin needs al ittle bit of regulation so it doesn't go completely haywire until,a a total transition is made from fiat into a digital currency System. Both Govts, and lay people need time to adjust and proper infrastructure put in place for the free world wide use of BTC.

Irans friends and sympathizers? Who? Hezbollah? I think they're the only ones. Probably North Korea also.

I don't think that North Korea cares very much about Iran.

I do think it will be interesting to see how the situation in Iraq will play out. It should be noted that Iran helped Iraq (and the US) by sending fighters into Iraq to fight off the militia that is trying to overtake the Iraq government.

The only real issue that the US has with Iran is it's nuclear weapons program. If we can get past our differences about the nuclear program by Iran helping out in Iraq then Iran could potentially become a very useful ally to the US.

This is speculation, but if it were to happen it could potentially provide some stability to the middle east. If it does not happen then eventually another war will break out in the area between the US and Iran.

[jaberwock]

No one cares about Iran.

Iran is one of the largest oil producers in the world. It have a population of almost 80 million. Iran is considered as Regional Superpower in the Middle East, Iran is very influential in Iraq, Syria and Lebanon. I even think that Iran is controlling those countries. And Iran is one of the country that openly oppose to Western Influence.

In theory Iran can start accepting bitcoin to get around those sanctions impose by western countries. Those bank accounts can easily get frozen unlike bitcoin which is immune. They don't have to carry tons of gold or dollars to trade with Iran.

[rext]

I personally think if Iran made Iran Coin or something like that it would gain a lot of support from all their friends and sympathisers. Bitcoin needs al ittle bit of regulation so it doesn't go completely haywire until,a a total transition is made from fiat into a digital currency System. Both Govts, and lay people need time to adjust and proper infrastructure put in place for the free world wide use of BTC.

Irans friends and sympathizers? Who? Hezbollah? I think they're the only ones. Probably North Korea also.

I don't think that North Korea cares very much about Iran.

I do think it will be interesting to see how the situation in Iraq will play out. It should be noted that Iran helped Iraq (and the US) by sending fighters into Iraq to fight off the militia that is trying to overtake the Iraq government.

The only real issue that the US has with Iran is it's nuclear weapons program. If we can get past our differences about the nuclear program by Iran helping out in Iraq then Iran could potentially become a very useful ally to the US.

This is speculation, but if it were to happen it could potentially provide some stability to the middle east. If it does not happen then eventually another war will break out in the area between the US and Iran.

Hope there won't be any war, Iraq vs US was bad enough.

[InwardContour]

I personally think if Iran made Iran Coin or something like that it would gain a lot of support from all their friends and sympathisers. Bitcoin needs al ittle bit of regulation so it doesn't go completely haywire until,a a total transition is made from fiat into a digital currency System. Both Govts, and lay people need time to adjust and proper infrastructure put in place for the free world wide use of BTC.

Irans friends and sympathizers? Who? Hezbollah? I think they're the only ones. Probably North Korea also.

I don't think that North Korea cares very much about Iran.

I do think it will be interesting to see how the situation in Iraq will play out. It should be noted that Iran helped Iraq (and the US) by sending fighters into Iraq to fight off the militia that is trying to overtake the Iraq government.

The only real issue that the US has with Iran is it's nuclear weapons program. If we can get past our differences about the nuclear program by Iran helping out in Iraq then Iran could potentially become a very useful ally to the US.

This is speculation, but if it were to happen it could potentially provide some stability to the middle east. If it does not happen then eventually another war will break out in the area between the US and Iran.

Hope there won't be any war, Iraq vs US was bad enough.

This is why a Iran/US partnership would be such a good thing. IMO it would be a long shot at best.

[bryant.coleman]

Iran is one of the largest oil producers in the world. It have a population of almost 80 million. Iran is considered as Regional Superpower in the Middle East, Iran is very influential in Iraq, Syria and Lebanon. I even think that Iran is controlling those countries. And Iran is one of the country that openly oppose to Western Influence.

In theory Iran can start accepting bitcoin to get around those sanctions impose by western countries. Those bank accounts can easily get frozen unlike bitcoin which is immune. They don't have to carry tons of gold or dollars to trade with Iran.

There are very few Bitcoin users in Iran. Have you ever seen any Persian Bitcoin users here in bitcointalk.org? Even the net usage is minimal in Iran. Bitcoin adoption has to grow a lot there, before we can even consider proposing BTC for the oil payments.

[jaberwock]

Iran is one of the largest oil producers in the world. It have a population of almost 80 million. Iran is considered as Regional Superpower in the Middle East, Iran is very influential in Iraq, Syria and Lebanon. I even think that Iran is controlling those countries. And Iran is one of the country that openly oppose to Western Influence.

In theory Iran can start accepting bitcoin to get around those sanctions impose by western countries. Those bank accounts can easily get frozen unlike bitcoin which is immune. They don't have to carry tons of gold or dollars to trade with Iran.

There are very few Bitcoin users in Iran. Have you ever seen any Persian Bitcoin users here in bitcointalk.org? Even the net usage is minimal in Iran. Bitcoin adoption has to grow a lot there, before we can even consider proposing BTC for the oil payments.

Even if there is no bitcoin users in Iran, if Iran government started using bitcoins to evade sanctions it is still a big factor and the transactions can easily worth in billions enough to raise the bitcoin price to 4,000 usd - 10,000 usd per bitcoin.

[bryant.coleman]

Even if there is no bitcoin users in Iran, if Iran government started using bitcoins to evade sanctions it is still a big factor and the transactions can easily worth in billions enough for bitcoin price to reach 4,000 usd - 10,000 usd per bitcoin.

There are practical difficulties in using Bitcoin for such huge amounts. Suppose lets imagine that Iran is getting paid with Bitcoin. Now they need to convert these coins to fiat, so that they could import consumer goods from China and Russia. But those nations accept only CNY, RUR or USD. How they will exchange BTC to USD?