I do not know why many are trying to add more articles about Iran, South Korea or Russia when it comes to cryptocurrencies? I have already read such news from Russia.
I do not think countries support cryptos like what is described in these articles. Many of these countries have political and economic problems, but that does not mean that they will solve their problems in highly transparent currencies.
Also, the concept of cryptocurrency backed by gold, oil or other is incorrect because it converts those currencies into mere electronic money" eCash money."
Topic: Iranian gold-backed state cryptocurrency turning out to be fake - page 2. (Read 317 times)
February 27, 2019, 11:23:01 PM
I didn't click on the article buy what do you expect?
Remember Maduro's Petro? The supposedly Venezuelan crypto put up by him to circumvent the trade embargo against his country? And it was reported to have raised $300 million to 1 billion or more but turns out to be bogus as well as reported?
So I guess Iranian crypto will be something similar to Petro coin.
Backing coin with gold doesn't work and governments want to test their luck with such coins.IMO it will be better to issue oil-backed crypto for oil country. Iran is not a democratic country and they have strict problems with strong countries. Iranian crypto will not be successful for a single reason, it is not fully decentralized and it can be speculated by creators. Remember Maduro's Petro? The supposedly Venezuelan crypto put up by him to circumvent the trade embargo against his country? And it was reported to have raised $300 million to 1 billion or more but turns out to be bogus as well as reported?
So I guess Iranian crypto will be something similar to Petro coin.
You just have to look at what are the primary reasons for having this coins in the first place and why it will fail. They created them just to get around those embargo from the US and other countries. It doesn't need to be "to issue oil-backed crypto for oil country", doesn't make sense, who would you think are going to invest on them? Russians?
They already back out from Maduro's Petro so I don't think that they are willing to invest on this Iranians coins as well.
February 27, 2019, 11:08:01 PM
I didn't click on the article buy what do you expect?
Remember Maduro's Petro? The supposedly Venezuelan crypto put up by him to circumvent the trade embargo against his country? And it was reported to have raised $300 million to 1 billion or more but turns out to be bogus as well as reported?
So I guess Iranian crypto will be something similar to Petro coin.
Backing coin with gold doesn't work and governments want to test their luck with such coins.IMO it will be better to issue oil-backed crypto for oil country. Iran is not a democratic country and they have strict problems with strong countries. Iranian crypto will not be successful for a single reason, it is not fully decentralized and it can be speculated by creators. Remember Maduro's Petro? The supposedly Venezuelan crypto put up by him to circumvent the trade embargo against his country? And it was reported to have raised $300 million to 1 billion or more but turns out to be bogus as well as reported?
So I guess Iranian crypto will be something similar to Petro coin.
February 27, 2019, 10:16:41 PM
I didn't click on the article buy what do you expect?
Remember Maduro's Petro? The supposedly Venezuelan crypto put up by him to circumvent the trade embargo against his country? And it was reported to have raised $300 million to 1 billion or more but turns out to be bogus as well as reported?
So I guess Iranian crypto will be something similar to Petro coin.
Remember Maduro's Petro? The supposedly Venezuelan crypto put up by him to circumvent the trade embargo against his country? And it was reported to have raised $300 million to 1 billion or more but turns out to be bogus as well as reported?
So I guess Iranian crypto will be something similar to Petro coin.
February 27, 2019, 10:04:29 PM
A supposed Iranian gold-backed state cryptocurrency called Paymon was widely reported, but it is now emerging that a lot of details about the cryptocurrency are false.
Paymon was reported to be a gold-backed cryptocurrency supported by an over-the-counter cryptocurrency exchange called Iran Fara Bourse, with an expected release of one billion coins that will be used to tokenize properties and assets.
However, BeInCrypto writer Alexander Fred said in an article published on 20 February 2019 that a lot of details about the supposed Iranian state cryptocurrency were faked.
Click the link for more details: https://www.unblock.news/news/iranian-gold-backed-state-cryptocurrency-turning-out-to-be-fake
Paymon was reported to be a gold-backed cryptocurrency supported by an over-the-counter cryptocurrency exchange called Iran Fara Bourse, with an expected release of one billion coins that will be used to tokenize properties and assets.
However, BeInCrypto writer Alexander Fred said in an article published on 20 February 2019 that a lot of details about the supposed Iranian state cryptocurrency were faked.
Click the link for more details: https://www.unblock.news/news/iranian-gold-backed-state-cryptocurrency-turning-out-to-be-fake
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