Iranial Rial collapses, Buy Bitcoin!

[livingfree]

If no one doesn't know the news[1] yet, just check this conversion of how much $1 in Iranian Rial and this is because of the protests happening there.

There's an absolute chaos there with the police against the protesters. And in result Iran's currency collapses that dictates its economy.

In terms of its currency and its value, we can learn from it that the fiat/currency of any country can collapse when chaos happens anytime.

This gives the idea of why people who doesn't hold Bitcoin yet needs to understand the importance of its scarcity and why people and even the biggest institutions are holding it now on.

While it's not global affection free, but we've seen on how it reacted with the global pandemic and other events that it doesn't have a center if chaos or wars happen.

I think we have forum members that are from Iran, I pray for your safety there guys.

[1] What’s Happening in Iran Right Now, Explained

[Dunamisx]

Hold fiat and be with liability, invest in bitcoin and have an asset, this is all about the future, there is no point wasting our time and money on what will amount to nothing after some time that devaluation, we should know how the effect of inflation has been dealing with fiat over time and this will always be, except we have an alternative to consider as we already have with bitcoin.

[Charles-Tim]

There is a recent discussion about this: Iranian protests over currency collapse show why bitcoin is needed, but the last reply there was on January 3rd of this year.

Another thing is that you should not make comparison between two fiat currencies unless you also discuss about the price of the coin in previous years. Example is to compare United States dollar to Iranian Rial in 2022 and in 2025, this is better.

Bitcoin is a store of value, a good asset to hold.

[Zlantann]

Hold fiat and be with liability, invest in bitcoin and have an asset, this is all about the future, there is no point wasting our time and money on what will amount to nothing after some time that devaluation, we should know how the effect of inflation has been dealing with fiat over time and this will always be, except we have an alternative to consider as we already have with bitcoin.

The situation in Iran is another reminder of why keeping money in fiat is risky. The Rial has been losing value since crushing sanctions were imposed on Iran over the years. Smart people in the country should have sought ways to shield their finances from the effects of currency depreciation.

The US is preparing to attack the country since it has been reported that many protesters have been killed by government security forces. An attack will bring the currency to another all-time low. Bitcoin is a viable protection from the effects of the devastating situation. I hope this situation is handled through dialogue because Iranians have been subjected to untold hardship because of sanctions and other problems.

[Haunebu]

People have already been doing that for a while now. The whole Israel-Iran issue made people from both countries understand the importance of crypto better and they converted their FIAT and other assets into crypto smartly. They converted their FIAT into gold, silver, etc too.

The Rial might bounce back in the future if the current government gets replaced by a new one, though that is simply speculation on my part.

[aylabadia05]

May safety remain a priority for our friends there.
I am aware of and continue to follow developments in Iran. The exchange rate of 1 USD is completely worthless, and this is a very serious situation. Strangely, Iran is considered the most influential country in the Middle East, and the ongoing demonstrations are the most severe in history.

I do not wish to bring the situation in Iran into the political realm in this discussion. It is true that those who have been holding Bitcoin can preserve value, as the Iranian fiat currency has lost all value.

[asriloni]

It's only a wishful thinking. It's totally opposite to the reality that is not let them to do that. They have no internet, they're also getting harder to afford the food and water that inflated so high. So with what they can buy Bitcoin?

The only lesson learned is that never put your money in "one basket". Owned a few percent bitcoin is better than nothing. At least people who skeptic about bitcoin may get some awareness.

[Furball808]

I am praying for those in Iran. I am sure many are suffering right now and I hope what is right would be done. But this just shows how cryptocurrency can really help nations under chaos. If they were able to hold some money in bitcoin, they would not be in as much trouble compared if they only had money in fiat. If they want to flee the country, having bitcoin would be very useful.

[Lucius]

Iranial Rial collapses, Buy Bitcoin!

Does it make sense to send a message like this to people who are in a life-threatening situation and do not yet have access to the internet (everything except satellite internet is turned-off)?

Besides, anyone who is in that country and owns BTC or another cryptocurrency can only look at their wallet because they can't do anything without the internet. In such situations, everything digital is worthless.

[MinoRaiola]

A good example, what can happen with a currency when people lose confidence in it. Two weeks ago, there was already a crash in the rate, and now there are extreme demonstrations. If confidence in Bitcoin rise, then this is the right way to go. Imagine if many more people around the world did the same and understood that Bitcoin is a very good way to hodl onto their money. I believe the rial will only rise again when the government is no longer in and someone else takes over.

[Karl_3000]

Iranial Rial collapses, Buy Bitcoin!

Does it make sense to send a message like this to people who are in a life-threatening situation and do not yet have access to the internet (everything except satellite internet is turned-off)?

Besides, anyone who is in that country and owns BTC or another cryptocurrency can only look at their wallet because they can't do anything without the internet. In such situations, everything digital is worthless.

He is not only referring to Iranian people but everyone in the world as it is a warning that the government can fail their citizens with inflation or hyperinflation.

Any Iranian that have bought bitcoin before will later be able to access the coin because the country can not stay without electricity forever.

[cr1776]

It is similar to what happened in Cyprus in 2013 with the currency controls, haircut etc.  Everyone should hold bitcoin because currency issues happen all too often.

[NotATether]

Does it make sense to send a message like this to people who are in a life-threatening situation and do not yet have access to the internet (everything except satellite internet is turned-off)?

Besides, anyone who is in that country and owns BTC or another cryptocurrency can only look at their wallet because they can't do anything without the internet. In such situations, everything digital is worthless.

First of all, fuck the IRGC. These civilians deserve better and I hope one day these thugs and Khameni are driven out or made to stand trial for crimes against humanity.

Now, with cooler heads, Bitcoin will definitely not help them right now. They need their color revolution supported so that these poor souls actually get a shot at living a free life.

[uchegod-21]

The situation in Iran is truly disheartening. Fiat will always be in trouble as long as there is political and economic instability in the country. Protests, tensions and pandemics will keep shaking the fiat. Those who would feel this tension more will be those who have all their savings and investments in fiat.

Comparing the Iranian currency to dollar is not enough because even the dollar is not safe from this mess. Because people, irrespective of the currency they use, are  losing their purchasing power by the day. People are now realising that bitcoin could be what they need in this situation. This is the reason why everyone should try to have bitcoin savings .

[Luzin]

First of all, fuck the IRGC. These civilians deserve better and I hope one day these thugs and Khameni are driven out or made to stand trial for crimes against humanity.

Now, with cooler heads, Bitcoin will definitely not help them right now. They need their color revolution supported so that these poor souls actually get a shot at living a free life.

I was shocked to see so many different social media platforms. If I'm not mistaken, this is one of the consequences of Iran clashing with the US, particularly Donald Trump. Iran faced sanctions related to its nuclear program, limiting oil exports and restricting access to international banking, thereby reducing the country's ability to acquire and transfer foreign currency. The pressure from the US through Trump was immense.

[Lorence.xD]

I know that we all want to connect this to the reason why we should never trust fiat because once a financial collapse happens, it's over for everyone but I have some other solutions that can probably help besides hodling bitcoin and those solutions include educating the youth, unlearning old traditions especially the ones that don't have any bearing to help in progress or cultural identity and learning how to be self-sufficient and self-sustaining, these solutions is doable on an individual label too. I think that these solutions can all be done with the help of bitcoin as bitcoin can serve as a tool to educate the youth about finances, bitcoin goes against the tradition of fiat and bitcoin also teaches people that if we can keep our money then we don't need your banks to keep it and fuel your fractional reserve banking scheme.

[Mame89]

What happened in Iran will serve as a lesson for us all on the importance of not relying on fiat as a store of value. When something like this happens in Iran, it's all useless leaving only regret.

In fact, Iran has been experiencing crises for a long time but this is the most severe. This is due to tensions with the US, which are now exacerbating the economic crisis rendering the rial worthless. Currently the price of Bitcoin is soaring, requiring 104 billion rials to purchase 1 BTC.

[PrivacyG]

This is one of the first and only situations where a particular disadvantage of Bitcoin is under stress test.  The fact that it relies on an infrastructure that, put in the wrong hands, can have its switch flipped at any time.  Which is obviously very bad for the people living in Iran but an interesting experiment for Bitcoin if you ask me.

Unfortunately during this time, while the Internet is completely down Bitcoin is useless.  It is only a string of numbers that may not even show up unless you have a connection, depending on the Wallet you are using.  Iranian Bitcoiners are looking at an Asset they can do nothing with.  I am curious to know how their mentality changes after this situation ends.  Will they still consider Bitcoin of any value?

Their situation can become ours tomorrow, no leader is guaranteed to do every thing in the benefit of the society.  History supposedly taught us this.  We all learn about it in school.  But some how, we always seem to forget.  Buy Bitcoin of course, but before Bitcoin or at least at the same time in my opinion you should make sure you guarantee your survival first.

[macson]

This is the reason why saving money in a currency in a country that is prone to conflict is so risky because the value of the currency can drop drastically due to political instability, international sanctions, severe inflation, and other problems, which affect the value of the currency.

Storing assets in bitcoin is the best way to maintain the value of their assets in the long term. Bitcoin will not be directly affected by the situation of a particular country, so it is suitable as a long-term hedge against economic and political instability.

[serjent05]

We have lots of news like this that serve as an eye-opener for everyone.  Anytime, fiat currency can collapse, when there is war, civil unrest, or corrupt government.  We must learn from this situation and think of ways to preserve our wealth.

Indeed, Bitcoin is one of the options, but there are other options out there.  I am against Bitcoin, but it is always good not to put all our eggs in one basket.  Bitcoin is still highly volatile and oftentimes, Bitcoin investment value fluctuates heavily, so I believe we must have variation, one that is very good as a store of value and the other funds in Bitcoin.