Iranial Rial collapses, Buy Bitcoin!

[Bastketsrus]

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.

Well said. This really shows how dependent Bitcoin still is on the internet, and when that’s gone, people are stuck. It’s a tough reality for those in Iran and a reminder for all of us. Bitcoin matters, but survival and basic needs always come first.

[BABY SHOES]

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)?

Iran used a military jammer to cut off the internet from Starling so that many areas could not use the internet in certain areas.

Iran can still have this sophisticated tool that can block Starlink to its satellites.

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.

Yeah... it's not worth it at all if there is no internet, unless someone leaves the country then it will return to normal, can Iranians leave their own country at this critical time?

[viljy]

Bitcoin is completely useless for its owner if there is no Internet access and, possibly, there will never be access at all (this is not excluded in Iran). Exactly the same way, no one can buy bitcoin if there is no Internet. And if Internet access is illegal via satellite (as in Iran), then it can end very badly for the person who gets caught doing it. The last thing he will think about is bitcoin in this position. So the Internet is not the most important thing, because it happens that people have no food, no water... In other words, when a person has nothing to eat (hyperinflation), he will not think about investing in bitcoin with a horizon of a decade, or think about how to protect money from inflation.

[ultrloa]

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.

I tried to research if there's really a blackout happening and yeah its true that this situation happen in their country https://www.cbsnews.com/news/iran-cutting-internet-amid-deadly-protests/

So if internet is dead, any digital currencies is really worthless since anyone in there country cannot do online transactions. So those suggestion to buy Bitcoin is not viable because in first place their citizen cannot do anything because their government implement inhumane actions. With this I think the safest option are those physical assets like gold, silver or maybe USD if they have access to buy this foreign currency.

[melinoe]

Bitcoin is completely useless for its owner if there is no Internet access and, possibly, there will never be access at all (this is not excluded in Iran). Exactly the same way, no one can buy bitcoin if there is no Internet. And if Internet access is illegal via satellite (as in Iran), then it can end very badly for the person who gets caught doing it. The last thing he will think about is bitcoin in this position. So the Internet is not the most important thing, because it happens that people have no food, no water... In other words, when a person has nothing to eat (hyperinflation), he will not think about investing in bitcoin with a horizon of a decade, or think about how to protect money from inflation.

He will think how to survive or leave such a place behind.. And to save his closed ones if possible from such situation, I totally agree.

[Kasabus]

Bitcoin is completely useless for its owner if there is no Internet access

Elon Musk came to the rescue.
Access to Elon Musk’s Starlink internet service is now free in Iran as regime continues brutal crackdown on protests

Elon Musk’s SpaceX is now providing free internet access via its Starlink satellite service to users in Iran as the country’s regime continues its bloody crackdown on anti-government protests, according to a tech expert in touch with Iranian Starlink users.

Starlink accounts in Iran that were previously inactive now have connections and their subscription fees have been waived as of Tuesday, said Ahmad Ahmadian, executive director at the technology nonprofit Holistic Resilience. “It’s plug and connect … just put [the satellite terminal] somewhere that has access to a clear view of the sky, and you’re good to go,” he told CNN.

Now they can transact bitcoin.

[hero_the_bossman]

Bitcoin is completely useless for its owner if there is no Internet access

Elon Musk came to the rescue.
Access to Elon Musk’s Starlink internet service is now free in Iran as regime continues brutal crackdown on protests

Elon Musk’s SpaceX is now providing free internet access via its Starlink satellite service to users in Iran as the country’s regime continues its bloody crackdown on anti-government protests, according to a tech expert in touch with Iranian Starlink users.

Starlink accounts in Iran that were previously inactive now have connections and their subscription fees have been waived as of Tuesday, said Ahmad Ahmadian, executive director at the technology nonprofit Holistic Resilience. “It’s plug and connect … just put [the satellite terminal] somewhere that has access to a clear view of the sky, and you’re good to go,” he told CNN.

Now they can transact bitcoin.

That's a truly good news for the people of Iran.

I hope it all ends as soon as possible for the people to be free to do what they want, not what they are told to..

[Ahli38]

The collapse of the Iranian rial proves that Bitcoin actually can be served as a hedge against crisis. And if Iran had large reserves of Bitcoin in its treasury they might not have suffered such heavy losses. But I personally don't see Iran having large reserves of Bitcoin. It will probably be difficult for Iran to restore its economy and even perhaps it will take a long time. A country's fiat currency can actually lose value very easily during a crisis. And trust in fiat currency easily fades when that happens. Countries that diversify into other assets such as Bitcoin are employing a very smart strategy to reduce the impact of a crisis. In any case we hope that Iran's situation will recover soon. And hopefully the problems that have arisen will soon subside.

[viljy]

Bitcoin is completely useless for its owner if there is no Internet access

Elon Musk came to the rescue.
Access to Elon Musk’s Starlink internet service is now free in Iran as regime continues brutal crackdown on protests

Do you know that this is being monitored? The connection location will be calculated and special people will arrive there quickly. Would you risk your own life to make a Bitcoin transaction? Probably not. Elon Musk probably wouldn't have risked it either. A "generous gesture" from Elon Musk: "send yourself to the gallows" or at least to prison. Elon Musk is a populist and PR man. In this case, the real help from him is zero, but most likely it is harm, and he understands this perfectly well.

[betswift]

The collapse of the Iranian rial proves that Bitcoin actually can be served as a hedge against crisis. And if Iran had large reserves of Bitcoin in its treasury they might not have suffered such heavy losses. But I personally don't see Iran having large reserves of Bitcoin. It will probably be difficult for Iran to restore its economy and even perhaps it will take a long time. A country's fiat currency can actually lose value very easily during a crisis. And trust in fiat currency easily fades when that happens. Countries that diversify into other assets such as Bitcoin are employing a very smart strategy to reduce the impact of a crisis. In any case we hope that Iran's situation will recover soon. And hopefully the problems that have arisen will soon subside.

I don't think anybody has the reserve amounts to tank such a situation Iran has.. surely, it may of been used to help the overall case, but it wouldn't save the people from what's coming after so many years of such an economic situation.

[Kasabus]

Bitcoin is completely useless for its owner if there is no Internet access

Elon Musk came to the rescue.
Access to Elon Musk’s Starlink internet service is now free in Iran as regime continues brutal crackdown on protests

Do you know that this is being monitored? The connection location will be calculated and special people will arrive there quickly. Would you risk your own life to make a Bitcoin transaction? Probably not. Elon Musk probably wouldn't have risked it either. A "generous gesture" from Elon Musk: "send yourself to the gallows" or at least to prison. Elon Musk is a populist and PR man. In this case, the real help from him is zero, but most likely it is harm, and he understands this perfectly well.

I know it’s monitored and technically illegal to use, but since the state doesn’t really own it, I think it’s harder for them to trace, unless they physically see the hardware, which obviously means there’s an internet connection there. For me, it’s still good news. At least people have a chance to get online and do whatever they need to do. Of course, they should be fully aware of the risks and be willing to accept them if they decide to go that route.

[Son Of Blockchain (SOB)]

Bitcoin is completely useless for its owner if there is no Internet access and, possibly, there will never be access at all (this is not excluded in Iran). Exactly the same way, no one can buy bitcoin if there is no Internet. And if Internet access is illegal via satellite (as in Iran), then it can end very badly for the person who gets caught doing it. The last thing he will think about is bitcoin in this position. So the Internet is not the most important thing, because it happens that people have no food, no water... In other words, when a person has nothing to eat (hyperinflation), he will not think about investing in bitcoin with a horizon of a decade, or think about how to protect money from inflation.

It's not completely useless like you said, remember that it's not used for transactions purposes for goods and services in Iran so it would be more like an investment plan for them, also remember that Bitcoin is more seen like an investment, which is why it doing pretty well in the asset class so I disagree with your statement.
 Moreover the Internet won't be down forever, this phase the Iranians are undergoing won't last forever and those who already have Bitcoin can keep holding whereas those who don't can buy immediately the Internet is back or move safer locations where they'll have freedom. The Op is only using what happened as an eye opener for people to see while Bitcoin is a better alternative to fiat.

[Natalim]

Of course, they should be fully aware of the risks and be willing to accept them if they decide to go that route.

When people are already desperate, they’re not really afraid of breaking the law anymore. That’s just reality. What Elon Musk did is actually good for humanity. At least the option exists. People who really need access can use it if they’re willing to take the risk for freedom, compared to having nothing at all.

The good part is that Starlink isn’t something you can just shut down easily. Since it runs on low-orbit satellites, countries like Iran don’t really have the capability to take it out.

[betswift]

Of course, they should be fully aware of the risks and be willing to accept them if they decide to go that route.

When people are already desperate, they’re not really afraid of breaking the law anymore. That’s just reality. What Elon Musk did is actually good for humanity. At least the option exists. People who really need access can use it if they’re willing to take the risk for freedom, compared to having nothing at all.

The good part is that Starlink isn’t something you can just shut down easily. Since it runs on low-orbit satellites, countries like Iran don’t really have the capability to take it out.

I am glad they don't, people need to have options, especially in situations like these, crises and so on..

[NotATether]

Elon Musk came to the rescue.
Access to Elon Musk’s Starlink internet service is now free in Iran as regime continues brutal crackdown on protests

~

Now they can transact bitcoin.

Good for Elon but it's not 100% reliable, the government is trying to jam the Starlink connections instead of actually fixing their broken economy.

[marywill9020]

People keep arguing whether Bitcoin 'works' when the internet is off but that's a weird standard. When the internet is off banks don't work, cards don't work, ATMs don't work either. No one says fiat failed forever because electricity went out. Bitcoin isn't a magic survival tool it's a capital escape tool. It's not for buying bread during blackouts it's for making sure you're not wiped out when the lights come back on. Expecting it to fix a war zone is missing the point.

[retreat]

What happened in Iran should serve as a clear example of how the value of fiat can plummet overnight due to political and economic turmoil. This explains why holding fiat is so risky and why Bitcoin is important, as a form of protection against the real risks of inflation or political turmoil. Bitcoin can act as a hedge against currency devaluation and is a viable alternative for those looking to protect their assets.

[Lucius]

Elon Musk came to the rescue.
Access to Elon Musk’s Starlink internet service is now free in Iran as regime continues brutal crackdown on protests
~
Now they can transact bitcoin.

Good for Elon but it's not 100% reliable, the government is trying to jam the Starlink connections instead of actually fixing their broken economy.[/size]

A video has actually emerged that allegedly shows Iranian authorities seizing a large number of devices that were smuggled into the country. However, videos coming from that country shows that some people still have access to satellite internet. Anyway, it seems that a US military action is only a matter of time, as thousands of civilians have already been killed, and thousands are in detention.

https://x.com/APHRODSAS1/status/2011410265745854736

[Natalim]

A video has actually emerged that allegedly shows Iranian authorities seizing a large number of devices that were smuggled into the country. However, videos coming from that country shows that some people still have access to satellite internet. Anyway, it seems that a US military action is only a matter of time, as thousands of civilians have already been killed, and thousands are in detention.

https://x.com/APHRODSAS1/status/2011410265745854736

Based on the video, it says they seized a large portion of the shipment, which likely means those units were new. But Starlink itself isn’t new. There were already Starlink devices around before this. Some of those older units may have been terminated due to non-payment, but now that Starlink is offering free internet in this certain situation, there’s a good chance those old devices are back in use. So even if they seized the new shipments, it doesn’t necessarily mean Starlink access is completely gone.

[Dump3er]

The situation in Iran didn't emerge overnight. There has been a sharia system for many years and people there struggle even to breathe. Many of those who have the means come to Türkiye and feel more comfortable here. I'm sure most of the investors also bought Bitcoin here. No one trusts their country's currency naturally.
I hope Iran returns to democracy and people can live more freely again. Everyone can see how political Islam has made life a living hell for people.

I wasn't aware that Iranians get along well with the Turks. I am not that well informed I admit, but isn't there a rivalry between the two nations or is that only on the political / geo strategical level and not among the citizens themselves? It is good to hear of course. What I don't understand from this circulating graph where the BTFC price goes through the roof in Iran is from where it comes. The graph looks like the price compared to now was close to zero in Iran. It could be an issue of scale due to the massive rise of course, but it's confusing.

A living hell is the appropriate term I think. The news are horrible. You never know what headline is fully true or partially true or a lie, but from what you can see on X and other social networks, if only a fraction of the headlines are true, it is horrible... The Mullahs now announced that everyone who was detained will also be killed. Those were mostly young people.