Topic: How the situation in Iran might impact Bitcoin - page 6. (Read 877 times)
In my perspective keeping money in the cryptocurrency space is the best option because it is not control by the affected country economy.
price has already affect BTC on the localbitcoins in Iran, it was posted by some user in similar thread which the price reaches up to $29K.
maybe a few coins were exchanged at those prices, but by and large that story was fake. the $24k number was derived from the iranian central bank exchange rate for USD which is totally suppressed. real BTC prices in iran are apparently in line with the rest of the world:
according to this report, these claims about skyrocketing price are bogus too. they are based on the central bank's official USD exchange rate, which is inflating the BTC/USD exchange rate. spot prices in iran apparently actually reflect the global market:
Quote
“It’s only possible for few businesses and government with special procedure to get that rate,” explained a crypto expert Ali Beikverdi.
“The official rate is what the central bank says. But literally, no one except some government organizations can get that rate while no one can use it. It’s a joke.”
“So if you wanna buy USD today in Tehran, the price is about 140,000 IRR,” he says.
In other words, while the “official rate” is around 42,000 IRR per 1 USD — which would result in the $24,000 price per Bitcoin — the actual rate in the street would give one something closer to BTC’s actual global market price, currently around $7,300 USD.
“The official rate is what the central bank says. But literally, no one except some government organizations can get that rate while no one can use it. It’s a joke.”
“So if you wanna buy USD today in Tehran, the price is about 140,000 IRR,” he says.
In other words, while the “official rate” is around 42,000 IRR per 1 USD — which would result in the $24,000 price per Bitcoin — the actual rate in the street would give one something closer to BTC’s actual global market price, currently around $7,300 USD.
Major commodities and some major indexes went red after the attack. But I doubt Bitcoin will have any major effect. The reason being the size of the market. Market cap is nothing as compared to other commodities and assets. Thus the effect, if any, won't be any pronounce.
I doubt crypto community has anything to worry about. Also, if people start taking out their investments, then that would also effect cryptos. But I highly doubt a possibility of war.
I doubt crypto community has anything to worry about. Also, if people start taking out their investments, then that would also effect cryptos. But I highly doubt a possibility of war.
I think maybe the event that make a possible world war 3 will also help the bitcoin. Because maybe they can use bitcoin to buy arms and guns, bombs and anything that can be a massive weapon in war. The production of weapons will increase and faster because of an easy transactions in bitcoin. So that the market will become more susceptible to increase the demand and many will invest.
Major commodities and some major indexes went red after the attack. But I doubt Bitcoin will have any major effect. The reason being the size of the market. Market cap is nothing as compared to other commodities and assets. Thus the effect, if any, won't be any pronounce.
I doubt crypto community has anything to worry about. Also, if people start taking out their investments, then that would also effect cryptos. But I highly doubt a possibility of war.
I doubt crypto community has anything to worry about. Also, if people start taking out their investments, then that would also effect cryptos. But I highly doubt a possibility of war.
Wat can cause many in the public to take their money out of fiat, but of course I rather the price drop than for there to be any war. Don't want to be like D!ck Cheney Halliburton.
I think the impact that iran may have on bitcoin is it could make it increase it's price just a little bit because people in iran might store their money in bitcoin just to save it until the battle between US government and Iran was finished. There are also some issues that not only bitcoin will increase it's price maybe some other cryptocurrency will have a sudden improvement to it's price due to Iran.
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.
Ithe crypto market in Iran is so small that it could affect the price but it won't be much. How many Iranians will buy BTC? Let's be generous and say 20%. How much of their total wealth will it be? For most people less than 10% would be my guess? So how many Bitcoins are we really talking about? 2000? That last Chinese ponzi scheme was liquidating 5k every day and even that couldn't bring us down to retest the monthly low. MONTHLY low. So what can you expect from Iran? Best case a retest of monthly high of 7800 USD. That's pretty much it.
How the situation in Iran might impact Bitcoin
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.
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.
Current situation not much but if Iran answer provocations. They most likely will not since are provocated for over a year. Then uncertainty will increase a lot and in uncertain times Bitcoin price will grow drastically.
I still have a doubt if it would completely affect the whole Bitcoin market although there's a sudden changes recently yet it's not that strong. I think this hot topic of a war going on between with these two nations might really affect the cryptocurrency market because we know what is the US are capable of.
Would people flee into crypto currencies (at least the major ones) as a safe haven? Or get out of them, because they would expect prices to fall when the economy slows down? I could imagine that people move more to savings accounts, despite the 0% interest.
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.
Not sure what the deal is in Iran with that but I'll bet that's a factor and possible instant debunk.
I still have a doubt if it would completely affect the whole Bitcoin market although there's a sudden changes recently yet it's not that strong. I think this hot topic of a war going on between with these two nations might really affect the cryptocurrency market because we know what is the US are capable of.
price has already affect BTC on the localbitcoins in Iran, it was posted by some user in similar thread which the price reaches up to $29K. it didn't affect the whole market though. a war seem overblown though, its not like Iran will blast US but then there is a probability that Iran will be invaded as US usually do it. hope not. Iran doesn't have a local section but if there is it would be a hot big thread here in bticointalk.
price has already affect BTC on the localbitcoins in Iran, it was posted by some user in similar thread which the price reaches up to $29K. it didn't affect the whole market though. a war seem overblown though, its not like Iran will blast US but then there is a probability that Iran will be invaded as US usually do it. hope not. Iran doesn't have a local section but if there is it would be a hot big thread here in bticointalk.
You might want to move this thread to Economics (Speculation) as... well, everything that's said or going to be said in here are just pure speculation.
I agree with you, this is not the pure speculation because in this case AS and Iran had not yet begin the war. But, i don't want it realize
My speculation is bitcoin and other cryptocurrency is not have relation about the war. It's will make the economyc and oil will ruined.
Cryptocurrency have their own market, so this will make cryptocurrency will safe.
You might want to move this thread to Economics (Speculation) as... well, everything that's said or going to be said in here are just pure speculation.
My thoughts? Nothing.
My thoughts? Nothing.
Is it possible to move this thread? or I need to delete and repost it?
You can move the thread. Just look for the "move topic" button on the bottom left.
You might want to move this thread to Economics (Speculation) as... well, everything that's said or going to be said in here are just pure speculation.
My thoughts? Nothing.
My thoughts? Nothing.
Is it possible to move this thread? or I need to delete and repost it?
You might want to move this thread to Economics (Speculation) as... well, everything that's said or going to be said in here are just pure speculation.
My thoughts? Nothing.
My thoughts? Nothing.
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.
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.
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