How the situation in Iran might impact Bitcoin

[FlightyPouch]

To be honest, I don't know. I never been in a time where war is happening. I just wish that we are unaffected by this war. Crypto currencies might be affected but as long as I am getting profits out of it, I am good.

[veleten]

so many topics popped out in regards to the recent news in Iraq and Iran
people even go as far as to claim that the price increase from 7000 to 7300$ was because of this , which is , probably , not the case
in Iran they added to the discussion saying that bitcoin is used to assist illegal capital flight from the country , and many billions were converted into crypto and
sent away from the country this way : https://news.bitcoin.com/billion-iran-purchase-cryptocurrencies/
I suspect they are exaggerating the problem , but some say the price has grown two folds in a matter of days in Iran
so it did impact the crypto , the uncertainty makes people want to find safe ways to store their wealth and bitcoin as much as volatile it is seems like a good option

[smyslov]

I would like to hear what people here in the community think about it.
As far as I know, when there is a war, people are taking their money out of the stock market because they fear of instability.

I wonder what a situation like this may cause to the crypto market.

The scenario in Iran could explode there could be a second wave of attack, if that happens those in Iran who knows about Cryptocurrency and Bitcoin could have an option to convert all their wealth to Bitcoin, and make a safe haven in other countries that are Bitcoin friendly, this is something the community is watching and waiting and validating that Bitcoin is a safe haven for a country that is facing this kind of situation.

[Wexlike]

I would like to hear what people here in the community think about it.
As far as I know, when there is a war, people are taking their money out of the stock market because they fear of instability.

I wonder what a situation like this may cause to the crypto market.

The scenario in Iran could explode there could be a second wave of attack, if that happens those in Iran who knows about Cryptocurrency and Bitcoin could have an option to convert all their wealth to Bitcoin, and make a safe haven in other countries that are Bitcoin friendly, this is something the community is watching and waiting and validating that Bitcoin is a safe haven for a country that is facing this kind of situation.

I don't believe there is enough "critical mass" of Bitcoin adoption in Iran to have any meaningful impact on the global price. I assume most Iranians would try to change their money into Euro or Dollar.

[michellee]

I think that depends on where the war is happening. If the war only happens to one or two countries and it does not impact all countries, people will not worry, and they will do their activity as usual. They don't care if there is a war, and they buy more stock if they see that the stock can increase. But I don't know what might impact bitcoin related to the situation in Iran because I think that the impact does not happen to many countries. If the war continues and it is happening too with the other countries, then we might see something that will happen later.

[Icygreen]

Of course there will be some who exit Iranian rial for BTC due to the scare of war however I just don't see this as being a real push in the price. Its more likely a speculative front run/manipulation based on the news.

 What I do think is more relevant for Bitcoin today in Iran is circumnavigating sanctions, just like Russia however Bitcoin is not yet large enough for governments to consider large positions for real world sanction circumnavigation and regulations have not allowed such government spending yet.  Bitcoin is already working really well on a more local community level to avoid sanctions and bank transfer problems. Just wait till everyone sees how its done.  It's coming fast.

[awik p]

I would like to hear what people here in the community think about it.
As far as I know, when there is a war, people are taking their money out of the stock market because they fear of instability.

I wonder what a situation like this may cause to the crypto market.

The scenario in Iran could explode there could be a second wave of attack, if that happens those in Iran who knows about Cryptocurrency and Bitcoin could have an option to convert all their wealth to Bitcoin, and make a safe haven in other countries that are Bitcoin friendly, this is something the community is watching and waiting and validating that Bitcoin is a safe haven for a country that is facing this kind of situation.

I don't believe there is enough "critical mass" of Bitcoin adoption in Iran to have any meaningful impact on the global price. I assume most Iranians would try to change their money into Euro or Dollar.

but previously Iran had already given a view of cryptocurrency, and reduced dependence on the dollar, especially with the death of their generals, I think it will be a new chapter, the fastest to receive the effect is the price of oil, but not yet visible on bitcoin

[fiulpro]

Cryptocurrency is not a stock market , even though it is like that , it still is very similar to currencies therefore what I think is , if the war is here then instead of the governmental institutions the people will go towards the non governmental ones , therefore one should understand that bitcoins does have that slight opportunity to go up very very fast.
Therefore I think bitcoins will go moon ! If a world war is gonna be there.

[Mihaylovic]

the situation may affect the bitcoin prices in local exchanges in iran just for a while, but i don't think it can affect the overall global bitcoin prices. Because there is no so many crypto adapters in iran. (i am even not sure if there is a local exchange platform there or not.)

[Wysi]

It will have limited affect not over all I think there will more and more money which will be converted into bitcoin or crypto from Persian Gulf regions as they are heading towards war and there are possibilities that this time we might see some war kinda situation which will kill the stock market and there would be high inflation throughout person Gulf Peninsula. The only bail out for the investors who have invested into local commodities is switching to crypto. This will impact crypto positively.

[shield132]

Before people quote the 29 grand bitcoin price let us reflect on the fact that in many places with shaky money there's an official exchange rate to the dollar and then there's the REAL one which is often several times less.

Not sure what the deal is in Iran with that but I'll bet that's a factor and possible instant debunk.

There is absolutely the same situation that you described, countries with weak national currency have dual exchange rate: 1. Governmental and 2nd - real one in street. On cointelegraph there was an article published that bitcoin price is 24000 USD in Iran, I got amazed at some point because of so huge difference but situation is different and like you said: Official exchange rate of USD/IRR = 42,025 while unofficial exchange rate (rate among people) is 13830 IRR. It's a huge difference.
So we couldn't say that at the moment any situation that's going in Iran had impact on bitcoin's price, maybe on my heart after reading that I could potentially sell bitcoin up to 24K price.

[luckyflop]

According to the information I learned, the war will cause much impact on the global economy, so if WW III happens, the stock market and the cryptocurrency market will be affected. The stock market may collapse, but for the cryptocurrency and gold markets, I think the price will increase dramatically because these two assets are much safer during the war.

[Pinkris128]

I would like to hear what people here in the community think about it.
As far as I know, when there is a war, people are taking their money out of the stock market because they fear of instability.

I wonder what a situation like this may cause to the crypto market.

People in iran might start to convert their money into bitcoin, and making it their safe haven assets to prevent high risk of loss. So bitcoin would make a sudden improvement to it's price if US government will start a war between Iran that a lot of people would buy bitcoin for million worth of dollars.

[atjiat]

I would like to hear what people here in the community think about it.
As far as I know, when there is a war, people are taking their money out of the stock market because they fear of instability.

I wonder what a situation like this may cause to the crypto market.

The scenario in Iran could explode there could be a second wave of attack, if that happens those in Iran who knows about Cryptocurrency and Bitcoin could have an option to convert all their wealth to Bitcoin, and make a safe haven in other countries that are Bitcoin friendly, this is something the community is watching and waiting and validating that Bitcoin is a safe haven for a country that is facing this kind of situation.

In any situation, if there is a problem of withdrawing or exporting personal funds from a country where there are huge problems for a person, then cryptocurrency in this regard can be a very good asset in order to maintain its financial condition.  But you also need to take into account the fact that initially you need to have cryptocurrency assets in order to use them in another country, because if someone has fiat funds, then it will be very difficult to immediately buy large amounts of cryptocurrency.  One way or another, in certain countries there is some control over the circulation of funds, and especially in Iran.

[Sadlife]

Most likely yes, if the war between iran and US occurs, well it most likely started. People might seek for a safe haven in assets like gold, oil and bitcoin. The citizens may already have seen what happened in other neighbouring countries like Afghanistan and Syria where it had an economic collapse due to war, people are just scared and migrating their money in order for them to not go bankrupt.

[daarul50]

As far as I know, when there is a war, people are taking their money out of the stock market because they fear of instability.

Not everyone and not necessarily.  Sometimes during times of war, investors start buying up defense stocks and related ones.

In any case, I'm not even up to speed on what's going on in Iran at the moment and I only heard about Trump ordering a hit on someone over there by reading a thread on bitcointalk.  That's sad--I've got to pull up a news site after I write this post.  But as far as bitcoin is concerned, I don't think war is going to affect its price all that much unless it's an all-out world war, and I don't think that's going to happen because of a situation with Iran.  It's not like the US and Iran have ever been that friendly, and we almost attacked Syria a few years ago under the Obama administration.  That was after bitcoin was created and it didn't seem to have much of an effect.

But we'll see.  And I'm hoping Trump doesn't do anything even more stupid before he gets kicked out of office.

trump has nothing to lose now , he won't get elected in the next presidential election for sure and using his last power to do crazy things with trump style.

here is i quoted from the trump dumb tweet to trigger something crazy :
"We have ... targeted 52 Iranian sites (representing the 52 American hostages taken by Iran many years ago), some at a very high level & important to Iran & the Iranian culture" and "if Iran strikes any Americans, or American assets... Iran itself, WILL BE HIT VERY FAST AND VERY HARD,"

it seems the world war would be kicked-off when trump really do that, and guess what?
all the market will shut down closed for unspecified time.
but for now things did not have any big impact.

[clickerz]

I don't think it will have much effect on Cryptocurrency if World War 3 will occur because capital owners will withdraw their assets and will buy gold as a safehaven asset. So the world price of gold will certainly soar, but if big investors choose Bitcoin than gold then it is certain the price of Bitcoin will increase dramatically.

It is already happening in Iran, bitcoin price have soar already, I think from previous news it reaches already to $27,000 per BTC. BTC is a safe haven and option for them since they can buy BTC and go abroad without the risk of being confiscated. BTC is handy and flexible which is a good option for them especially in the situation like this.

[AbuBhakar]

Most likely yes, if the war between iran and US occurs, well it most likely started. People might seek for a safe haven in assets like gold, oil and bitcoin. The citizens may already have seen what happened in other neighbouring countries like Afghanistan and Syria where it had an economic collapse due to war, people are just scared and migrating their money in order for them to not go bankrupt.

It's much better to secure for something not controlled by the government than risk in their economy status where may include a lot of problems when it started. Smart investors will really choose bitcoin but some may choose going out of the country. They just need to make sure the security of their Investment, let's hope that war will not start any time soon, but it seems really going there.

[Shinpako09]

I don't think so. I don't have any wow reaction when I read that btc price in Iran rose to $29k. It doesn't hype me even in the slightest. Simply because real price worldwide doesn't have such gap. We've got a few hundred of bucks increased but I doubt it is because of situation in Iran. Maybe it is just a normal rise. Iran is still far away compared to other countries that makes impact if there's a news from them. If Iran's situation really have an impact, we could have feeling it right now but look only few got hype that's why the price isn't showing some unexpected increase.

[sovie]

I don't think bitcoin will be in any way effected by this war as there are very few places where this currency can be used. Its purely a speculation. Iran is one of the biggest oil producer. Oil prices may fluctuate due to this but no chances of bitcoin. I strongly suggest stay away if any rise in price of bitcoin is seen to avoid any damage.