Your idea is quite challenging and you should count on transactions fee.
What about this crypto investment fund, average return is around 5% per month. Maybe with this you can make some difference in money and earn it:
https://www.facebook.com/pages/TheSolution-Land-Fund/687807614647270
They have result from previous trading activities: https://docs.google.com/file/d/0B5MX8YsGbFm9ZTVNR205N0czOVk/edit?pli=1
Topic: Looking to start a Bitcoin-based investment, need advice (Read 1672 times)
Dont worry..
I understand you!
We have the same problem here, because im in Venezuela NOW....
Im going to think some solution, and PM you, who knows.. we can think toguether
God luck
I understand you!
We have the same problem here, because im in Venezuela NOW....
Im going to think some solution, and PM you, who knows.. we can think toguether
God luck
I came to the same conclusion, seems impossible.
That's right. I need to think about the ways.
I think, you have to look in BTC more as a way to get out money from Iran, for student, or for all as a fast and secure way
That's right. I need to think about the ways.
hi ed_teech
Is not possible what you are planning. the reason:
1) Have to wait 1 year, for 20% interest rate.
2) Need to find a investor that wait 1 year, with his money in a risky country
3) Iran have an "official" 32,3% inflation (must to be more, the real one)
4) You cannot free exchange $ vs Rial, and the black market is is around 25% more than "official" very fluctuating
If you solve (1) and (2) and find the way to exchange without problems BTC/USD/RIAL, after a year... still must to work to obtain 12,3% (maybe more) diff between what you put in the bank, and what you get 1 year later, after inflation make his job.
Also, i want to say something: if you dont look any US/UE/World citicen making deposit to "obtain" a 20% profit per year in Iran, is because there isnt profit for all!!
I think, you have to look in BTC more as a way to get out money from Iran, for student, or for all as a fast and secure way
Thanks for share
DaniloM
Is not possible what you are planning. the reason:
1) Have to wait 1 year, for 20% interest rate.
2) Need to find a investor that wait 1 year, with his money in a risky country
3) Iran have an "official" 32,3% inflation (must to be more, the real one)
4) You cannot free exchange $ vs Rial, and the black market is is around 25% more than "official" very fluctuating
If you solve (1) and (2) and find the way to exchange without problems BTC/USD/RIAL, after a year... still must to work to obtain 12,3% (maybe more) diff between what you put in the bank, and what you get 1 year later, after inflation make his job.
Also, i want to say something: if you dont look any US/UE/World citicen making deposit to "obtain" a 20% profit per year in Iran, is because there isnt profit for all!!
I think, you have to look in BTC more as a way to get out money from Iran, for student, or for all as a fast and secure way
Thanks for share
DaniloM
Thank you for your great feedback. I'll start small and see where it goes. 
To complement your post, ISIS kill Shia's, Iran is the only Shia government in the world.
Didn't know that. You learn something new everyday.
But back on the subject:
Nothing banned or allowed here yet. The government hasn't even noticed the movement. The idea of the exchange has been going through my mind. The problem here is that every exchange needs a constant flow of both currencies to be able to exchange. Even if lots of people use BTC to buy embargoed goods here, the exchange has to have a flow of BTC coming in. As there is no ecosystem of mining here, I don't know if thats even possible.
Bitcoin in this country is not recognized yet, I wonder what should I do first to promote.
Bitcoin in this country is not recognized yet, I wonder what should I do first to promote.
If it's not banned then it's allowed. But to be on the safe side, always enquire with the relevant authorities and do everything in full compliance with the law.
Off course low BTC inflow to Iran is a problem. But you can start small, and hope for a steady, organic growth. There are other ways to get BTC other than mining/buying with USD. You can provide services over the internet such as web/graphic design, coding etc in exchange for BTC, you can participate in signature campaigns, or get BTC through Iranian international students/relatives.
Lack of awareness is big issue. But you can spread the word on the popular forums and see how it goes. You can create Iranian sub forum on bitcointalk. If you could get at least 1000 people into bitcoin and get them together, that would be a solid starting point.
The biggest issue imho are the regulations, if BTC gains in popularity in Iran, the government can see it as a threat to local currency and ban it overnight.
Anyway, best of luck.
So if anything Iran fights ISIS.
To complement your post, ISIS kill Shia's, Iran is the only Shia government in the world.
Quote
The stated goals of JTJ were: (i) to force a withdrawal of coalition forces from Iraq; (ii) to topple the Iraqi interim government; (iii) to assassinate collaborators with the occupation regime; (iv) to remove the Shia population and defeat its militias because of its death-squad activities; and (v) to establish subsequently a pure Islamic state.
ref: http://en.wikipedia.org/wiki/Islamic_State_of_Iraq_and_the_Levant
Then again one could counter argue that the transfer between individuals could go unprecedented to boycott sanctions and to fund such groups as ISIS but if in the end it needs to go to an exchange it raises some interesting legal questions.
Let's not make this thread turn into discussion on "who's the real terrorist", but let's get this straight. Iran does not support ISIS. ISIS fights with Syria, Syria (pres. al-Assad) get political/military support from Iran. So if anything Iran fights ISIS.
ISIS is basically formed from rebels fighting al-Asaad in Syria, who initially got political support from USA and financial support from "Muslim Brotherhood" particularly Kuwait and Saudi Arabia (are those countries under any sanctions for supporting terrorism?).
http://www.bbc.co.uk/news/world-middle-east-24179084
Quote
The US said the fall of Iraq's second city posed a threat to the entire region. It may also have made ISIS the most cash-rich militant group in the world.
Initially, the group relied on donations from wealthy individuals in Gulf Arab states, particularly Kuwait and Saudi Arabia, who supported its fight against President Bashar al-Assad.
Today, IS is said to earn significant amounts from the oil fields it controls in eastern Syria, reportedly selling some of the supply back to the Syrian government. It is also believed to have been selling looted antiquities from historical sites.
Initially, the group relied on donations from wealthy individuals in Gulf Arab states, particularly Kuwait and Saudi Arabia, who supported its fight against President Bashar al-Assad.
Today, IS is said to earn significant amounts from the oil fields it controls in eastern Syria, reportedly selling some of the supply back to the Syrian government. It is also believed to have been selling looted antiquities from historical sites.
legendary
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I personally think Bitcoin is a good alternative currency choice for countries with embargoes and restrictions like Iran. For example, no one in Iran can buy anything online, even a virtual service like a web host. Unlocking opportunities like this with Bitcoin for people seems the right move, as Bitcoin is advocating financial freedom and no government control over currency.
Well in this case it is blame the government not blame the citizens for the actions of the country.
Whether that stands in the legal system is another question as one could argue that a privately held currency used by individual citizens who can be identified would not fund terrorism or be boycottable against a sanctioning state especially if some limits were set on how much they could have in that account, aka enough to live and get buy but not enough to buy a few WMD's
.Then again one could counter argue that the transfer between individuals could go unprecedented to boycott sanctions and to fund such groups as ISIS but if in the end it needs to go to an exchange it raises some interesting legal questions.
Briefcase of money from bankers for Bitcoins at a discount lol like the offhand exchange of a drug deal
Then again pseudo anonymous the taint is strong there if someone follows those coins lol.
Same as a US dollar bill ^_^.
http://www.cnn.com/2009/HEALTH/08/14/cocaine.traces.money/
I personally think Bitcoin is a good alternative currency choice for countries with embargoes and restrictions like Iran. For example, no one in Iran can buy anything online, even a virtual service like a web host. Unlocking opportunities like this with Bitcoin for people seems the right move, as Bitcoin is advocating financial freedom and no government control over currency.
legendary
Activity: 2758
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
Anyone doing this would be violating the sanctions that the US has on Iran. They are there for a reason, because the Iran government is associated with terrorism and because of their pursuit of nuclear weapons. If you were to do this then you would be essentially be funding terrorism.
Possibly however alternative banking systems is a necessary requirement for the citizens in those countries
A mechanism of exchange that is psuedoanonymous like Bitcoin could fill that niche one because addresses can be associated to people if they register an account at those exchanges and two it can be altered in a way to allow trade to commence without to many legal complications between individuals.
Anyways as a point Bitcoin is considered Sharia Compliant but you can't call it interest as thats Usury ^_^.
by indirectly depositing money at Iran banks you are giving the government additional funds to borrow from to finance terrorism.
Many banks in Iran are not governmental. How would they pay off people if their money is funding terrorism ?
If you were to do this then you would be essentially be funding terrorism.
I assume you're joking, right?
Why do you think it is illegal for US citizens to have deposits at Iran banks?
If you cannot freely exchange IRR/USD then the chart you linked may not be very helpful.
This kind of exchange is done routinely, as lots of students outside Iran need USD. Their families are funding them using exchanges.Iranian bank interest % - estimated inflation % = X. If X is noticeably higher than the interest % offered by US/European banks, then it can be profitable.
I completely agree with this.What's the Iran stance on bitcoin and cryptos? Have they forbidden it? If not, maybe you could try your luck and set up the first BTC/IRR exchange?
Nothing banned or allowed here yet. The government hasn't even noticed the movement. The idea of the exchange has been going through my mind. The problem here is that every exchange needs a constant flow of both currencies to be able to exchange. Even if lots of people use BTC to buy embargoed goods here, the exchange has to have a flow of BTC coming in. As there is no ecosystem of mining here, I don't know if thats even possible. Bitcoin in this country is not recognized yet, I wonder what should I do first to promote.
Very good point, but the fluctuations in IRR/USD are not as high as %20. Here is a good chart http://www.xe.com/currencycharts/?from=USD&to=IRR&view=1Y. There is a sharp price increase during the Ahmadinejad presidency, but other than that it seems fairly stable.
If you cannot freely exchange IRR/USD then the chart you linked may not be very helpful. The basic formula would be:
Iranian bank interest % - estimated inflation % = X. If X is noticeably higher than the interest % offered by US/European banks, then it can be profitable.
But then you have a legal aspect, both investor and you would be breaking a law (and it's not even because of the embargo). Then you have the aspect of trust...
Plus, how are you going to convert BTC to IRR and back, if according to you:
Also there is no BTC/IRR here.
So nope, it's not a good investment idea.
What's the Iran stance on bitcoin and cryptos? Have they forbidden it? If not, maybe you could try your luck and set up the first BTC/IRR exchange?
If you were to do this then you would be essentially be funding terrorism.
I assume you're joking, right?
Anyone doing this would be violating the sanctions that the US has on Iran. They are there for a reason, because the Iran government is associated with terrorism and because of their pursuit of nuclear weapons. If you were to do this then you would be essentially be funding terrorism.
Thank you for your response.
No, they don't. That's why the profit should be calculated as BTC/USD -> USD/IRR -> Deposit to Bank -> IRR/USD -> USD/BTC. Also there is no BTC/IRR here. I think it still may be profitable, but maybe for bigger sums of money.
Very good point, but the fluctuations in IRR/USD are not as high as %20. Here is a good chart http://www.xe.com/currencycharts/?from=USD&to=IRR&view=1Y. There is a sharp price increase during the Ahmadinejad presidency, but other than that it seems fairly stable.
Quote
First of all, do Iranian banks allow to deposit in USD?
No, they don't. That's why the profit should be calculated as BTC/USD -> USD/IRR -> Deposit to Bank -> IRR/USD -> USD/BTC. Also there is no BTC/IRR here. I think it still may be profitable, but maybe for bigger sums of money.
Quote
If you intend to convert $100 into Iranian rial and deposit rial in the bank for 1 year with 20% interest, assuming the inflation is also at 20%, after 1 year you'd still have only $100.
Very good point, but the fluctuations in IRR/USD are not as high as %20. Here is a good chart http://www.xe.com/currencycharts/?from=USD&to=IRR&view=1Y. There is a sharp price increase during the Ahmadinejad presidency, but other than that it seems fairly stable.
Hello,
As a fact the banking interest rate is different between countries. For example in the country I live in, Iran, the banking profit rate is as high as 20% profit a year. If you deposit $100 in your account, you will have $120 at the end of the year (see http://en.wikipedia.org/wiki/Banking_and_insurance_in_Iran#Rates). This is a result of high loan interest rates and inflation in our country. As another fact, people in other countries don't have access to Iranian banks, as they are embargoed. Also Iranian banks only open bank accounts for Iranian residents.
As a fact the banking interest rate is different between countries. For example in the country I live in, Iran, the banking profit rate is as high as 20% profit a year. If you deposit $100 in your account, you will have $120 at the end of the year (see http://en.wikipedia.org/wiki/Banking_and_insurance_in_Iran#Rates). This is a result of high loan interest rates and inflation in our country. As another fact, people in other countries don't have access to Iranian banks, as they are embargoed. Also Iranian banks only open bank accounts for Iranian residents.
First of all, do Iranian banks allow to deposit in USD? If so, will the interest rate still be at 20%? I highly doubt it.
If you intend to convert $100 into Iranian rial and deposit rial in the bank for 1 year with 20% interest, assuming the inflation is also at 20%, after 1 year you'd still have only $100.
If the inflation is a bit lower, say 16%, that's still only 4% gain (excluding effect of USD inflation). So doesn't make much sense really.
Hello,
As a fact the banking interest rate is different between countries. For example in the country I live in, Iran, the banking profit rate is as high as 20% profit a year. If you deposit $100 in your account, you will have $120 at the end of the year (see http://en.wikipedia.org/wiki/Banking_and_insurance_in_Iran#Rates). This is a result of high loan interest rates and inflation in our country. As another fact, people in other countries don't have access to Iranian banks, as they are embargoed. Also Iranian banks only open bank accounts for Iranian residents.
Idea: Open an Iranian bank account for people living in other countries and give them their interest.
Before Bitcoin this was impossible, as foreigners couldn't have financial transactions with Iranian people. Now it is possible, but there are many complications:
How would you trust me (as a business) with your hard earned BTC ?
As I know I am not running a ponzi scheme (interest is built by the bank) how can I prove it ?
Any other ideas are appreciated !
Thank You
As a fact the banking interest rate is different between countries. For example in the country I live in, Iran, the banking profit rate is as high as 20% profit a year. If you deposit $100 in your account, you will have $120 at the end of the year (see http://en.wikipedia.org/wiki/Banking_and_insurance_in_Iran#Rates). This is a result of high loan interest rates and inflation in our country. As another fact, people in other countries don't have access to Iranian banks, as they are embargoed. Also Iranian banks only open bank accounts for Iranian residents.
Idea: Open an Iranian bank account for people living in other countries and give them their interest.
Before Bitcoin this was impossible, as foreigners couldn't have financial transactions with Iranian people. Now it is possible, but there are many complications:
How would you trust me (as a business) with your hard earned BTC ?
As I know I am not running a ponzi scheme (interest is built by the bank) how can I prove it ?
Any other ideas are appreciated !
Thank You
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