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Topic: [2018-09-06] Bitcoin Hits $24,000 In Iran After Government Okays Mining - page 2. (Read 333 times)

legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
This means you will not be able to sell those coins on the global markets, until the Bitcoin price reach those levels. The inherent risk in that is huge but it is a fabulous opportunity for arbitrage if you can get coins into those hot markets now.

How awesome would it be to sell your coins at $24 000, when you are buying coins at $6420 outside of Iran. A $15 000 to $17 000 profit on every coin.  Shocked 

What is going to happen when their markets cools down and people start losing money, when the price drop again.  Roll Eyes
hero member
Activity: 2338
Merit: 953
Temporary forum vacation
Wow,,, that is amazing. I wonder how many Iranians are there on this forum and how many made money selling Bitcoin on localbitcoins. Last year Zimbabwe became famous for high prices along with South Korea where there was demand. But imagine this. Selling 24k when price is almost touching to 6k. That is an incredible arbitrage price of 400% profit.

Bitcoin is always going to be what people want first. The world can see this now.
sr. member
Activity: 546
Merit: 252
The world’s most expensive bitcoin core (BTC) price is in Iran. A combination of high foreign currency demand, economic sanctions and an improved regulatory environment – with some speculation – have sent the price of the leading digital currency skywards. How high can it go?

Falling Rial, New Policy Spur Iran Bitcoin Bull Market

The price of BTC in Iran rose sharply on Wednesday after the government of President Hassan Rouhani approved plans to mainstream bitcoin mining – and as the local currency nosedived.

BTC hit a world record $24,000 on the Iranian exchange EXIR, eclipsing its previous high of $20,000, as investors piled into the digital currency in search of a safe haven against the falling rial.

EXIR tweeted that “bitcoin bull markets already started in Iran as rial price goes down against USD.” The rial is trading at around 138,000 against the US dollar on the streets of Tehran, according to a Reuters report, about 230 percent above the official rate of around 42,000.

See more - https://news.bitcoin.com/bitcoin-hits-24000-in-iran-after-government-okays-mining/
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