For one thing, i just hope that the execution of yhis coin would be good since this is one of the first govcoins today and they could set the pace and presidence on how the market will dictate the future govcoins. I also hope that it will become successful but honestly? Do we need a nee blockchain just for government use?
Topic: IRAN TO LAUNCH ITS OWN CRYPTOCURRENCY, GOOD OR BAD FOR CRYPTO ADOPTION? (Read 309 times)
December 16, 2018, 06:04:44 PM
December 16, 2018, 07:57:30 AM
A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
Then why should it be bad for them to launch their own crypto? Is it not good enough that crypto is spreading all around the globe? We should be happy.
December 16, 2018, 07:26:06 AM
A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
I can understand a cause for caution. Although at face value it seems like a great news, and improves the adoption of bitcoin in different countries in general. But the main motive of these currencies in the end is to by pass unfavourable trade laws. The trade laws unfavourable for them, on the other hand might be profitable for other big countries and thus on one hand where cryptos would become a bail out instrument for crises stricken countries, other financially powerful countries might crackdown harder on them.SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
December 16, 2018, 07:05:35 AM
The implication it may have would lead to a more active involvement in crypto and blockchain from other government as well. As we are still at an extremely early stage for mass adoption, I'd personally consider this "Good" for the crypto adoption.
August 06, 2018, 10:40:08 AM
A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
I can understand a cause for caution. Although at face value it seems like a great news, and improves the adoption of bitcoin in different countries in general. But the main motive of these currencies in the end is to by pass unfavourable trade laws. The trade laws unfavourable for them, on the other hand might be profitable for other big countries and thus on one hand where cryptos would become a bail out instrument for crises stricken countries, other financially powerful countries might crackdown harder on them. SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
August 06, 2018, 10:25:29 AM
I can’t confirm the authenticity of the news from an independent source, but I found a copy of the report here.[1]
The regime in Iran is a religious system, where the state adopts an approach to Islam called the Shiite doctrine.
I do not know about the rule of the Bitcoin in that doctrine, but the Islamic world so far does not officially accept it. [3]
Generally, if this news is correct, I do not expect it to have any effect because the transactions in cryptocurrencies need a trust that seems to be missing in the Iranian currency.
The positive point is the success of blockchain regime in attracting governments.
[1] Iran Considers Using Cryptocurrencies to Evade US Sanctions
[2] Iran Will Launch Its Own Cryptocurrency to Bust U.S. Sanctions
[3] Egypt's Dar al-Iftaa deems Bitcoin currency as forbidden in Islam
The regime in Iran is a religious system, where the state adopts an approach to Islam called the Shiite doctrine.
I do not know about the rule of the Bitcoin in that doctrine, but the Islamic world so far does not officially accept it. [3]
Generally, if this news is correct, I do not expect it to have any effect because the transactions in cryptocurrencies need a trust that seems to be missing in the Iranian currency.
The positive point is the success of blockchain regime in attracting governments.
[1] Iran Considers Using Cryptocurrencies to Evade US Sanctions
[2] Iran Will Launch Its Own Cryptocurrency to Bust U.S. Sanctions
[3] Egypt's Dar al-Iftaa deems Bitcoin currency as forbidden in Islam
August 06, 2018, 05:41:24 AM
We have seen the evolution and growth of ICOs for some months now and maybe it is time we started seeing a change as we start getting to see countries coming up with their own cryptocurrency. This might be the trend to be looking forward to in coming years.
I would not say it is a bad thing as this could bring about some transparency in a way but it all still depends on the government being ready to utilize it for the benefit of the country and not because they want to enrich themselves based on the fact that it would be centralized anyway. Otherwise, for very corruption ridden countries, it would not make any difference if that corruption is not dealt with.
I would not say it is a bad thing as this could bring about some transparency in a way but it all still depends on the government being ready to utilize it for the benefit of the country and not because they want to enrich themselves based on the fact that it would be centralized anyway. Otherwise, for very corruption ridden countries, it would not make any difference if that corruption is not dealt with.
August 06, 2018, 05:04:58 AM
A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
More country issuing their own cryptocurrency its good for cryptomarket. Peoples will have many option beside bitcoin and altcoin. If Iran Government release their own currency, its mean cryptocurrency regulated in Iran and I am believe it will followed by others country
August 06, 2018, 03:02:40 AM
my opinion might be good because blockchain technology will be educated to some new people in the country, as always there will always be other opinions about this news, because as you know that Iran launches its own cryptocurrency as a form of boycott international sanctions.
August 06, 2018, 02:37:00 AM
By the way,according to the recent news,Venezuela is printing paper money like crazy.The hyperinflaiton will continue,and the PETRO coin was a joke.Iran is heading to the same hyperinflation road,due to the embargo.A govcoin won`t allow them to bypass the embargo,just like the perto coin didn`t allow Venezuela to bypass the sactions and import goods using their shitty coin.Nobody will trust such gov coin and it`s value will be close to zero.It doesn`t matter if it`s backed by oil or not.
At present, the situation is very volatile market is difficult. But not every effort is stopped, they are trying to promote what they have to keep pace with the progress of the times. Hope for these difficulties, will soon. Let other countries also have conditions to participate and conditions for economic development. The goal is global economic exchanges with mankind. 
July 31, 2018, 12:41:15 AM
By the way,according to the recent news,Venezuela is printing paper money like crazy.The hyperinflaiton will continue,and the PETRO coin was a joke.Iran is heading to the same hyperinflation road,due to the embargo.A govcoin won`t allow them to bypass the embargo,just like the perto coin didn`t allow Venezuela to bypass the sactions and import goods using their shitty coin.Nobody will trust such gov coin and it`s value will be close to zero.It doesn`t matter if it`s backed by oil or not.
July 31, 2018, 12:29:16 AM
Too Iran it can be either a good thing or a bad thing as how much can a they cryptocurrency can benefit in people and the government or it can only be used by corrupt officials as they can go to a centralized route with out putting emphasis to putting the system into the hands to its countrymen. Also if that happens it will not move much in the cryptomarket as it will only target a certain country.
July 30, 2018, 07:58:28 PM
how this affects the cryptocurrency adoption depends on the country's approach. based on what i saw from Venezuela they started educating their people about cryptocurrencies and bitcoin so the bitcoin adoption also grew. so i guess we can say countries that take that approach can increase the adoption of cryptocurrencies in general also.
Wrong.The cryptocurrency adoption in Venezuela didn't grow because they're "educating their people about cryptos and btc", adoption is growing mainly because people figured out on their own that:
1)they could make more money by holding X or Y crypto than by working a regular job just to earn about $3 or $4 (based on the USD black market in Venezuela, that's pretty much the minimum wage).
2) it's much easier for them to pay for something in USD (using cryptocurrency, or something like Paypal) than with their own worthless currency.
3) Selling USD in the black market has become the main source of income for many people over there, cryptocurrencies are usually sold at a higher price for Bolivares, meaning that their popularity skyrocket overnight.
Source: have some friends with relatives living in that country.
July 30, 2018, 05:33:55 PM
Iran and Venezuela have oil based economics and both of them are under the political pressure. The intention of Iran is obvious Iran is going to decrease quantity of dollar payments by replacing them the payments in the new crypto currency. I think that it is positive news for the whole crypto market that another one country us going to join to the crypto market and keep in mind that Iran is a quite rich country which can contribute on evolving crypto technoligies.
July 30, 2018, 04:23:08 PM
A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
I really think that while a government creating their own cryptocurrency is irrelevant to our market at the same time I like the message this is sending to the world, banks no longer have a monopoly on the market and now they got competition and not matter what they do this is not going to change, this show to us that even governments are choosing cryptocurrencies as a way to deal with blocks from banks and if governments can do that then the power cryptocurrencies gives to the individual is enormous. SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
July 30, 2018, 03:28:15 PM
The article doesn't say anything about it though I think It will be a token on ETH chain probably. I can't see any other choice for a gov coin.
As a country which is being ruled by a centralized entity, they'll surely want the control of their money. If they come up with something like bitcoin or ethereum where you mine coins with GPU/ASICs, a giant company would fuck everything up. They can't risk it happening so...
btw, don't post those half ass shitty bitcoin(dot)com articles. That article is pure garbage.
Read this one it covers much more.
http://fortune.com/2018/07/26/iran-sanctions-cryptocurrency/
As a country which is being ruled by a centralized entity, they'll surely want the control of their money. If they come up with something like bitcoin or ethereum where you mine coins with GPU/ASICs, a giant company would fuck everything up. They can't risk it happening so...
btw, don't post those half ass shitty bitcoin(dot)com articles. That article is pure garbage.
Read this one it covers much more.
http://fortune.com/2018/07/26/iran-sanctions-cryptocurrency/
July 30, 2018, 03:21:44 PM
In terms of adoption, I suppose that this coin can increase the number of cryptocurrency users in the country, so it can have a positive impact, although quite limited. However, leaving aside that I am quite skeptical with these state cryptocurrencies, the reason why these coins are being launched is a bit worrisome because in the event that these countries were successful and effectively managed to avoid international sanctions, the governments that have imposed these sanctions could take quite tough measures against cryptocurrencies in general. So far they have only forbidden their citizens to buy these coins, as the United States has done with respect to Petro, but you never know what can happen if they decide to take more severe measures.
July 30, 2018, 03:19:51 PM
Neutral why Iran can't have his own cryptocurrency
why not because america not agree
Much more interesting will be to observe how it done and will it works for Iran
For sure when china will launch his digital yuan it will be huge
There are good economist in USA who are saying that USA needs to launch his crypto
from pragmatic reasons save on costs
why not because america not agree
Much more interesting will be to observe how it done and will it works for Iran
For sure when china will launch his digital yuan it will be huge
There are good economist in USA who are saying that USA needs to launch his crypto
from pragmatic reasons save on costs
July 30, 2018, 03:10:19 PM
I will admire that step which iran is going to take niw because America is considering them as the don or God father of the world and they are divtating world but IRAN IS the only country who is stamding like a man infromt of USA samctions for long long 36 years . Salute to their determination
July 30, 2018, 03:07:13 PM
Its too soon to tell. Probably this will give crypto more visibility, but at the same time it will give ammunition to crypto enemies so only time will tell what is gonna be the biggest factor.
July 30, 2018, 02:38:21 PM
Iran it's not the first country who introduced its own cryptocurrency. Having in mind previous experiences this is just another crypto that will not affect the crypto world at definetely will not influence on Bitcoin.
Although Iran is controversial country and this might also connected with terrorism financing I don't expect any negative or positive reflection.
This will more or less be used only in promotion purposes.
Although Iran is controversial country and this might also connected with terrorism financing I don't expect any negative or positive reflection.
This will more or less be used only in promotion purposes.
July 30, 2018, 02:36:15 PM
A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
Most countries laughing their own crypto currency are doing it for one main reason which is to avoid sanctions from world powers and from my own point of view, its done for the wrong reasons because the same way they are scheming ways to avoid the sanctions, so also is the other governments would be working so hard that all the efforts become futile. Launching a crypto currency should go beyond avoidance but acceptance. They can only control the use of it in their own locality but what then happens to those that want to trade with them? Would they also enforce the rule on them? Unless they want to operate in the black market, I don't see this as a lasting solution to the problem being faced at all.
July 30, 2018, 02:28:45 PM
I also wouldnt be able to state the effect this will have on crypto.
I suppose it wi gjve those people in Iran and Venezuela the chance
to get used to 'digital currency' and the similarities to decentralised
crypto.
Its slowly changing, all that is needed now is for a few more countries
to make the move it more shoukd follow.
I suppose it wi gjve those people in Iran and Venezuela the chance
to get used to 'digital currency' and the similarities to decentralised
crypto.
Its slowly changing, all that is needed now is for a few more countries
to make the move it more shoukd follow.
July 30, 2018, 02:21:49 PM
The effect is not all bad it will surely add value in the launch of a coin for Iran, if Iran is smart in managing cryptocurrency I'm sure there will be a lot of enthusiasm in the community, maybe not concentrated on one coin and will be more than that, everyone wants more valuable coins like Bitcoin , major adoption is likely to happen in the next few months, Venezuela has established itself to be more reorganized and well received by the people, now is the first step of Iran following the development that should occur in the economic development of the country, I hope there are many countries others are thinking about this.
Come do not think too much, everyone expects a good achievement for cryptocurrency.
No effect at all for crypto. Do you realized what's the reason for them to lauch their own crypto? Its because they want to circumvent the possibility that they would be a heavy embargo against them by the West. So in anticipation and to looks like they have to find a way and somewhat legitimize it, they will have to go under crypto and hide it. And what's interesting is the individuals or nations who will buy and support them. YES. it will be the same nations that are anti-West. But for the effect, on crypto market, I don't see anything weird (good or bad) that will happen to us so there's no significant effect whatsoever, imo.
Come do not think too much, everyone expects a good achievement for cryptocurrency.
July 30, 2018, 02:19:54 PM
It's Iran, and the news is meh. I can see why Venezuela would want some sort of cryptocurrency, since what they have now is obviously not cutting it--but the people of that country could have adopted one of the established cryptos, I think. From what I've read, usually when there's hyperinflation the go-to asset is another currency (like the USD) or gold & silver. People need something of value to use, and honestly I'm not sure why something like bitcoin would appeal to them, given how volatile it is.
I don't have any prediction as to how the Iran thing is going to affect crypto. My guess is that it probably won't, but it'll be interesting to see how it all plays out.
I don't have any prediction as to how the Iran thing is going to affect crypto. My guess is that it probably won't, but it'll be interesting to see how it all plays out.
July 30, 2018, 02:14:19 PM
There's a reason things like the dollar, EUR and gold are used in international trade. Enough people no matter where they are can agree that they're worth something.
A 'national crypto' conjured out of thin air is a slightly less enticing proposition to everyone except the sweaty man trying to offload them. I'm really intrigued to see what becomes of them. Very little is my guess.
A 'national crypto' conjured out of thin air is a slightly less enticing proposition to everyone except the sweaty man trying to offload them. I'm really intrigued to see what becomes of them. Very little is my guess.
July 30, 2018, 02:03:59 PM
...cryptocurrency centralized... and perhaps not even using cryptography, just a pure scriptural money with a database server. And on the top of that, I doubt a lot of countries will accept to deal with Iran using this currency. I agree they're just trying to bypass any embargo.
Not much to get excited about other than the the technical side
Not much to get excited about other than the the technical side
July 30, 2018, 12:17:56 PM
A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
What impact the creation of this cryptocurrency will have on the market will turn out only after its creation. For now it is too early to judge whether it is good or bad. Will it be possible to avoid sanctions imposed on Iran in this way? We also have to wait for it. If it succeeds, then other countries in a similar situation can go this way and start creating their own cryptocurrencies.
July 30, 2018, 12:09:46 PM
No effect at all for crypto. Do you realized what's the reason for them to lauch their own crypto? Its because they want to circumvent the possibility that they would be a heavy embargo against them by the West. So in anticipation and to looks like they have to find a way and somewhat legitimize it, they will have to go under crypto and hide it. And what's interesting is the individuals or nations who will buy and support them. YES. it will be the same nations that are anti-West. But for the effect, on crypto market, I don't see anything weird (good or bad) that will happen to us so there's no significant effect whatsoever, imo.
July 30, 2018, 10:57:58 AM
a while ago when Venezuela created their very own centralized cryptocurrency i said soon we will see other countries to follow. and now it is happening. although in this case i am interested to know HOW they are going to "boycott international sanctions" though? it is still going to be tough making a trade even if you use another means of "medium of exchange"
how this affects the cryptocurrency adoption depends on the country's approach. based on what i saw from Venezuela they started educating their people about cryptocurrencies and bitcoin so the bitcoin adoption also grew. so i guess we can say countries that take that approach can increase the adoption of cryptocurrencies in general also.
how this affects the cryptocurrency adoption depends on the country's approach. based on what i saw from Venezuela they started educating their people about cryptocurrencies and bitcoin so the bitcoin adoption also grew. so i guess we can say countries that take that approach can increase the adoption of cryptocurrencies in general also.
July 30, 2018, 09:33:32 AM
A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/
Jump to: