Bitcoin is not being sold for $24,000 in Iran

[DreamStage]

A rumor sprung to life earlier on Saturday claiming that Bitcoin was selling for $24,000 per unit in Iran. Apparently, the demand for the benchmark cryptocurrency was skyrocketing in the country in anticipation of a military standoff against the United States.

Turns out, while not totally unsubstantiated, the rumor was more of a half-truth arising due to some onlookers overestimating the significance of Iran’s official exchange rate.

In reality, the business remains as usual in Iran’s homegrown cryptocurrency space with peer-to-peer Bitcoin trading currently hovering around the $7,000s.

Full News here
(Not click campaign, just sharing information)

Based on https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate

Also the main reason for why there are no such high tansactions from Iran is because they have restricted internet access across the country since November.



So as many were saying, no people... Bitcoin is not being exchanged with such high volumes and price in Iran but rather from other countries due to such recent events.

[Cimmy_revenger]

I was thinking about how to register in the crypto exchange in Iran then my money will be converted into a balance in Paypal.

[cryp24x]

If that would be the case, I would be the first one to register on their exchange. But kidding aside, I don't think people will do such thing especially when it is open to public. I guess some will attempt to do it but it will be through dark web since the news will spread like wild fire to Crypto enthusiasts if that happens. Let us not be trapped by these fake news from people who just want to hype Bitcoin. We better confirm first the news then we can now decide on our next move.

[JohnBitCo]

I was thinking about how to register in the crypto exchange in Iran then my money will be converted into a balance in Paypal.

You can check localbitcoins to see if anyone selling bitcoin to Paypal in Iran. Also you can get the idea of currently bitcoin prices in IRAN through this screenshot.

1 US Dollar = 42105 IRR

[enhu]

I was thinking about how to register in the crypto exchange in Iran then my money will be converted into a balance in Paypal.

You can check localbitcoins to see if anyone selling bitcoin to Paypal in Iran. Also you can get the idea of currently bitcoin prices in IRAN through this screenshot.

1 US Dollar = 42105 IRR

Seem real to me. Its about $24000 base on this data. I wouldn't try going there to sell my coins on Iran localbitcoin though, its very risky since we don't have privacy with LBC. I think cointelegraph had also tried looking for a real information before posting the article.

It doesn't affect the price on exchanges though but would it be possible to sell BTC by meet up in Iran?

[MURONDI]

so the news that was horrendous was not true, is it just a rumor to increase the price of bitcoin, I guess the news really happened, which I wonder why it doesn't affect the price of bitcoin in general, there are currently many untrue news that support or hate bitcoin, we must be more careful in filtering news.

[noormcs5]

It doesn't affect the price on exchanges though but would it be possible to sell BTC by meet up in Iran?

Meetup in Iran to sell the bitcoins ? No way. No one will risk their lives to go to Iran for this purpose when Iran is at the edge of the war and the drones attacks are already being fired there.
Life is more important than the price of the bitcoins.

[darkangel11]

Seem real to me. Its about $24000 base on this data. I wouldn't try going there to sell my coins on Iran localbitcoin though, its very risky since we don't have privacy with LBC. I think cointelegraph had also tried looking for a real information before posting the article.

It doesn't affect the price on exchanges though but would it be possible to sell BTC by meet up in Iran?

The data is pure bullshit and FUD. Google exchange rates, just the simplest one that google search provides. You'll see that 1 Bitcoin is worth 250000000 IRR and this equals 7500 USD. This is a small premium because BTC at the time of writing was 7450 USD, but in an acceptable range. I suppose the demand in Iran could be higher than in the EU for instance, so even 100 USD premium is completely fine.

[dothebeats]

You can check localbitcoins to see if anyone selling bitcoin to Paypal in Iran. Also you can get the idea of currently bitcoin prices in IRAN through this screenshot.

1 US Dollar = 42105 IRR

This is just one face of what's happening in Iran. P2P is the way to go, but not on a facilitated space just like what LocalBitcoins is offering that's for sure and that's why I don't believe much of the volume nor the pricing being posted in LBC-Iran. Anyone can post how much would they want their bitcoin to be sold but that doesn't mean that someone will be willing to pay for that price point knowing that there are other places offering far more better deals than LBC.

Seem real to me. Its about $24000 base on this data. I wouldn't try going there to sell my coins on Iran localbitcoin though, its very risky since we don't have privacy with LBC. I think cointelegraph had also tried looking for a real information before posting the article.

Perhaps you haven't tried to trade with LBC yet? Anyone can post a sell bid on there with obnoxious amounts way beyond the current trading value of bitcoin but it will still get applied, but that doesn't mean that someone will be buying those awful prices even if they're in the midst of a global crisis.

It doesn't affect the price on exchanges though but would it be possible to sell BTC by meet up in Iran?

We don't know unless we actually hear from someone residing in Iran currently. All of these information surfacing from the country are, IMO, opinions and mere aggregates as Iran had been fairly disconnected from the Internet since November last year, but are now being reconnected slowly but surely so there's that. Perhaps their P2P trades are really meetups after all, but if you're from outside Iran, why would you even think of doing that in the first place?

[Theb]

What can you expect from Cointelegraph actually being straight with the news? I think not, these news media websites feed on fear and noise to boost their traffic so I wouldn't be relying on them nor recommending them to anyone as a first source of my crypto news. At this poiny where we all are seeing are just threats from both sides I don't see a direct effect on both their commodities and fiat prices since threata doesn't directly affect the demand. But if things gets pretty serious that's when we see citizens and companies look for safe havens in the market.

[Sebas.tian]

so the news that was horrendous was not true, is it just a rumor to increase the price of bitcoin,....

What you mean?   , check some post ahead of your post to verify the above data if actually Bitcoin was sold at $24,000. Having post for the sake of SATs shouldn't be allow as your case is an example. When you start argument ensure to bring enough evidence for your back up than to just say it with a backup data.

I was thinking about how to register in the crypto exchange in Iran then my money will be converted into a balance in Paypal.

You can check localbitcoins to see if anyone selling bitcoin to Paypal in Iran. Also you can get the idea of currently bitcoin prices in IRAN through this screenshot.

1 US Dollar = 42105 IRR

[Soldierswitlittlefaith]

i don't think this will happen but in case if, it does. it's possible to establish trade with some of the local trader's in iran who will be hurting for btc around the web!

everything is possible.

Thanks
Soldierwitlittlefaith

[DdmrDdmr]

Someone from Iran should be able to clarify this completely, but it seems to be true that there is one official Exchange Price, and a free market price (for regular people):

In iran USA $ is equal to 135000 IRR in free market. 42000 IRR is official but not applicable for people. For example if you want to travel you have to buy US dollar from free market.

That being so would make the OP’s source article true, and BTC equivalente to 7,3K$ aprox. for internal citizens.

See the comments (ignore the data on the top of the page, which seems to mix both exchange rates here:
https://www.numbeo.com/cost-of-living/in/Tehran
-> I tried to find a place with local comments to get some inner insights here.

[msarro]

I was thinking about how to register in the crypto exchange in Iran then my money will be converted into a balance in Paypal.

You can check localbitcoins to see if anyone selling bitcoin to Paypal in Iran. Also you can get the idea of currently bitcoin prices in IRAN through this screenshot.

1 US Dollar = 42105 IRR

If this data is correct then we have bitcoin selling at 24k$ in IRAN. This is not the first time going through this situation they have faced such scenarios before.
I dont think bitcoin can rescue them in case of war. Bitcoin itself is too volatile and cannot sustain any value. How can bitcoin help Iran's.

[1Referee]

so the news that was horrendous was not true, is it just a rumor to increase the price of bitcoin, I guess the news really happened, which I wonder why it doesn't affect the price of bitcoin in general, there are currently many untrue news that support or hate bitcoin, we must be more careful in filtering news.

It might have been an attempt to get the price to go up, but it had no ground to do anything with how poor the sentiment is currently. During bear markets good news has no effect on the price at all, the price just follows the trend regardless of how much Bitcoin costs in Iran according to news outlets.

The problem here is partly caused by news outlets just reporting this garbage while they know it's not true, but the main part is how stupid their readers are. If they can pull off such articles without any consequences (consequences being that readers stop visiting their site), their readers must be retarded. On top of that, their readers even spread this fake news with their own social media accounts.

No matter how much of a Bitcoin bull you are, fake news shouldn't be tolerated.

[The Sceptical Chymist]

is it just a rumor to increase the price of bitcoin

I doubt that.  I saw a news report about this in another thread, and it looked like just bad journalism to me.  Not surprising, since I'm not sure where these crypto news sites get their writers to begin with.  Some of them seem to be even worse than what you'd find on zerohedge.

I figured this wasn't really happening in Iran.  I didn't think anyone would actually pay that much over spot for bitcoin, since it's not like anybody would need it that badly, even in a time of crisis--and there isn't exactly a crisis yet.  I could see the price of gasoline or food or other essentials going up, but not bitcoin.  Plus I would think there would be other ways to buy bitcoin instead of paying the outrageous rates that got reported.  So fake news it is, I guess.

[Bagaji]

I was thinking about how to register in the crypto exchange in Iran then my money will be converted into a balance in Paypal.

You can check localbitcoins to see if anyone selling bitcoin to Paypal in Iran. Also you can get the idea of currently bitcoin prices in IRAN through this screenshot.

1 US Dollar = 42105 IRR

Seem real to me. Its about $24000 base on this data. I wouldn't try going there to sell my coins on Iran localbitcoin though, its very risky since we don't have privacy with LBC. I think cointelegraph had also tried looking for a real information before posting the article.

It doesn't affect the price on exchanges though but would it be possible to sell BTC by meet up in Iran?

Cointelegraph actually posted the article on their website and I have quoted the link in one of submission late last week and that has attention of many of which some were believing that I happen to be the author of article or the owner of the website. Good to know that am not the only one who come across the information on the cointelegraph.

[LFC_Bitcoin]

Meetup in Iran to sell the bitcoins ? No way. No one will risk their lives to go to Iran for this purpose when Iran is at the edge of the war and the drones attacks are already being fired there.
Life is more important than the price of the bitcoins.

Tbh these attacks being or orchestrated are being carried out as intended, likely with precision accuracy.
If you had the balls to do it you could probably sell bitcoin for cash somewhere safe like a restaurant in the city centre or a hotel & do it safely.

[Youghoor]

I don't understand why people choose to share false information about bitcoin rather than things that might encourage mass adoption of bitcoin.  There are so many FUDs in the bitcoin ecosystem and this is not helping the bitcoin ecosystem grow as expected.  People are just taking advantage of the incidence which just happened in Iran to spread unnecessary FUDs.

[riso2015]

so the news that was horrendous was not true, is it just a rumor to increase the price of bitcoin, I guess the news really happened, which I wonder why it doesn't affect the price of bitcoin in general, there are currently many untrue news that support or hate bitcoin, we must be more careful in filtering news.

No, the news is true, not a rumor. We can find that price on the local Exchange, in LocalBitcoin.
In this Exchange we can only sell Bitcoin among fellow individuals, this is a decentralized Exchange.