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Whitly
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September 05, 2019, 12:25:58 PM
 #1

I heard, that BTC prices in Iran 50%-100% more, than everywhere else. My question is how this info close to the truth? How many people really want to buy/own bitcoins there and how safe to deal with IRAN?
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September 05, 2019, 12:29:04 PM
 #2

I heard, that BTC prices in Iran 50%-100% more, than everywhere else. My question is how this info close to the truth? How many people really want to buy/own bitcoins there and how safe to deal with IRAN?

 It's complicated.  You can't afford the repercussions. Don't do it.

https://www.treasury.gov/resource-center/sanctions/programs/pages/iran.aspx
Whitly
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September 05, 2019, 01:19:53 PM
 #3

I heard, that BTC prices in Iran 50%-100% more, than everywhere else. My question is how this info close to the truth? How many people really want to buy/own bitcoins there and how safe to deal with IRAN?

 It's complicated.  You can't afford the repercussions. Don't do it.

https://www.treasury.gov/resource-center/sanctions/programs/pages/iran.aspx


It may sound stupid, but what problems in perspective could I have as a non-US citizen by dealing with Iran?  Since I free to move from Eastern Europe to Turkey and then somehow to Iran (or find someone there who will move). Cuz selling BTC with 30-40% up, sounds pretty good for me to risk.
arpon11
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September 05, 2019, 01:25:39 PM
 #4

I heard, that BTC prices in Iran 50%-100% more, than everywhere else. My question is how this info close to the truth? How many people really want to buy/own bitcoins there and how safe to deal with IRAN?
Is this even possible and why should IRAN buying Bitcoin in the country higher than what we have online? Because of the volatility, we may have some arbitrary opportunity or wide in the gap of bitcoin's pricing across the exchange but that doesn't mean it should be up to 100% different. Bitcoin is decentralized and if such opportunity exists the arbitrage traders will take the advantage and make huge money from IRAN by buying from USA exchange and sell at IRAN exchange.
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September 05, 2019, 02:02:16 PM
 #5

Is this even possible and why should IRAN buying Bitcoin in the country higher than what we have online? Because of the volatility, we may have some arbitrary opportunity or wide in the gap of bitcoin's pricing across the exchange but that doesn't mean it should be up to 100% different. Bitcoin is decentralized and if such opportunity exists the arbitrage traders will take the advantage and make huge money from IRAN by buying from USA exchange and sell at IRAN exchange.

While I don't know where OP got the information that bitcoin in Iran is worth 50%-100% more(not saying it's fake news), trading bitcoin is banned[1] in Iran. Meaning, it's going to be very very difficult for you if you're interested in holding some bitcoin hence why there's probably a huge price premium.

Yes, Bitcoin is decentralized, but you're still going to need to buy it from somewhere; and that's mostly going to include fiat on ramps.


[1] https://www.tasnimnews.com/en/news/2019/07/08/2049108/trading-bitcoin-illegal-in-iran-official-warns

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September 05, 2019, 02:22:08 PM
 #6

Idk if it's worth it to risk your freedom in exchange for a 30+% premium on bitcoin. We all know that Iran somehow restricts the trade of bitcoin within its country, even though in July it recognized crypto mining as an official industry within the said state. The repercussions are far worse and outweighs the rewards by many times over, so don't do it. It's a great idea if one thinks about it, but what if one gets caught? Then that's the doom of it and you'll have your coins seized as well.




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September 05, 2019, 02:22:25 PM
 #7


It may sound stupid, but what problems in perspective could I have as a non-US citizen by dealing with Iran?  Since I free to move from Eastern Europe to Turkey and then somehow to Iran (or find someone there who will move). Cuz selling BTC with 30-40% up, sounds pretty good for me to risk.

Before you start thinking of the profit and allow it to get into your head, have you confirmed the information, I mean with Iranian btc enthusiast or hodler there because the deal might sound profiting but you might find some issues at the long run of transaction even if bitcoin is decentralized.

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September 05, 2019, 02:31:40 PM
 #8

I heard, that BTC prices in Iran 50%-100% more, than everywhere else. My question is how this info close to the truth? How many people really want to buy/own bitcoins there and how safe to deal with IRAN?

 It's complicated.  You can't afford the repercussions. Don't do it.

https://www.treasury.gov/resource-center/sanctions/programs/pages/iran.aspx


It may sound stupid, but what problems in perspective could I have as a non-US citizen by dealing with Iran?  Since I free to move from Eastern Europe to Turkey and then somehow to Iran (or find someone there who will move). Cuz selling BTC with 30-40% up, sounds pretty good for me to risk.

Yes, you can actually do that - travel to Iran to sell your Bitcoin at a higher premium. Buuut, they will pay you in Iranian rial in which you can't exchange to US dollars. You could buy Iranian goods like jewelries or some other high-value items, but you will have a hard time bringing it out of the country.


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September 05, 2019, 02:37:44 PM
Last edit: September 05, 2019, 03:56:10 PM by xhomerx10
Merited by Whitly (1)
 #9

I heard, that BTC prices in Iran 50%-100% more, than everywhere else. My question is how this info close to the truth? How many people really want to buy/own bitcoins there and how safe to deal with IRAN?

 It's complicated.  You can't afford the repercussions. Don't do it.

https://www.treasury.gov/resource-center/sanctions/programs/pages/iran.aspx


It may sound stupid, but what problems in perspective could I have as a non-US citizen by dealing with Iran?  Since I free to move from Eastern Europe to Turkey and then somehow to Iran (or find someone there who will move). Cuz selling BTC with 30-40% up, sounds pretty good for me to risk.

Yes, you can actually do that - travel to Iran to sell your Bitcoin at a higher premium. Buuut, they will pay you in Iranian rial in which you can't exchange to US dollars. You could buy Iranian goods like jewelries or some other high-value items, but you will have a hard time bringing it out of the country.

 Ah, let him go.  He seems like the Indiana Jones type person... he'll be fine.

edit: Indiana not Indian
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September 06, 2019, 05:03:14 PM
 #10

I heard, that BTC prices in Iran 50%-100% more, than everywhere else. My question is how this info close to the truth? How many people really want to buy/own bitcoins there and how safe to deal with IRAN?
If we are talking of arbitrage here, that is the only thing that could cause their bitcoin value to be hire by such amount, but till I see proof of it before I can really agree, I am sure that along the line during trading, the rice might be corrected to normal value if it is caused but arbitrage, and why would I want to buy cryptocurrency there when I know that it is a war country and anything could happen at anytime.

I would prefer that I just buy my cons normally in my country and would not want to be greedy to go and accumulate bitcoin all the way from Iran because of their nature to war. It is a beautiful thing well that Iran of all countries is even implementing the use of cryptocurrency.

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September 06, 2019, 06:34:05 PM
 #11

Anything that's illegal and scarce tends to increase in value. Since bitcoin trading is still banned/illegal in Iran, the difficulty itself drives the price up. It's ironic though that they've allowed mining according to some articles I read but wants mined BTC to be traded elsewhere.

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September 06, 2019, 07:02:08 PM
 #12

If the USA wants people to join in their sanctions then they are going to have to become legitimate in their efforts. It was the US who blew the Iran deal not Iran.

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