Topic: Why the price in iran of bitcoin is manipulated (Read 370 times)
Did you read the article itself? There is no price manipulation of bitcoin. What is being manipulated is the Iranian rial (IRR). The article says it all. There are 2 rates published in Iran, the official rate which we all see everywhere and the actual market rate. Basically, if you go to the money changer and you buy dollars for IRR, the guy will see it to you at the rate you see which is basically 3 times the official rate. Nothing to do with BTC.
It is plain and simple, because of fear, people convert their fiats to crypto. In addition, people outside of iran take it as advantage and opportunity to spread news of a price increase which is in fact true, that is why it seems to be manipulated.
In countries where crypto exchanges are not present and banks don’t support fiat to crypto conversion, prices of bitcoin in such countries are always high at localbitcoins. In my country price of bitcoin at localbitcoin is way high. I didn’t checked localbitcoins of iran before this attack but I am sure it must be at high end.
Hmm yeah that's possible, the reason why news like this is popular now, it seems like there are people who want to manipulate prices through the tension between Iran and the US. But even so, this incident was able to drive the price of bitcoin rises.
Personally considering the entire nature of the bitcoin ecosystem, I don't really see any relation between the killing of the Iranian general to the sudden increase in the market value of Bitcoin. In the later part of 2019, the rise in the price of Bitcoin was associated to the China government embracing blockchain technology and its usefulness and now this. Why don't people get it that these news are just FUDs.
the two things you mentioned have inverse sentiments in my opinion.bitcoin prices actually dropped not long after xi jinping announced they appreciated the blockchain, but still had two sides where they continued to dismantle crypto activities that were considered to violate their policies, they did not change their attitude at all towards crypto. Then about news related to Iran, you can see in detail at localbitcoins. Fud or not is very clearly related to the panic situation, and the price of bitcoin is not proven to be down at this time.
In countries where crypto exchanges are not present and banks don’t support fiat to crypto conversion, prices of bitcoin in such countries are always high at localbitcoins. In my country price of bitcoin at localbitcoin is way high. I didn’t checked localbitcoins of iran before this attack but I am sure it must be at high end.
Hmm yeah that's possible, the reason why news like this is popular now, it seems like there are people who want to manipulate prices through the tension between Iran and the US. But even so, this incident was able to drive the price of bitcoin rises.
when the general of iran killed General Kasim, panic and chaos happens in iran
then the price of oil and bitcoin rises, i think there are people who is just capitalizing
on the situation like what happen before on other countries where in everythings price
skyrocket, since the government of iran is against bitcoin, and having caught mining
will result to something as a penalty, i dont think the people there will do such a risk
just to be rich, there are people i think that is just maybe not in the country or black
market trying to fuel this just to take advantage of the situation
Here is the link, saying it all that will show that bitcoin is being control in iran
by i think, group of organization trying to take advantage feel free to read
https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate
then the price of oil and bitcoin rises, i think there are people who is just capitalizing
on the situation like what happen before on other countries where in everythings price
skyrocket, since the government of iran is against bitcoin, and having caught mining
will result to something as a penalty, i dont think the people there will do such a risk
just to be rich, there are people i think that is just maybe not in the country or black
market trying to fuel this just to take advantage of the situation
Here is the link, saying it all that will show that bitcoin is being control in iran
by i think, group of organization trying to take advantage feel free to read
https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate
Personally considering the entire nature of the bitcoin ecosystem, I don't really see any relation between the killing of the Iranian general to the sudden increase in the market value of Bitcoin. In the later part of 2019, the rise in the price of Bitcoin was associated to the China government embracing blockchain technology and its usefulness and now this. Why don't people get it that these news are just FUDs.
Advantage to sell?
$24k is the buying rate.
So what is the selling rate?
$23k? It is an easy money if they will sell big amounts.
Then, they could just reason out that the dump came from the people who sold all their bitcoin together.
Yes, that might happen. Getting rich using the mayhem that is happening on their country. What a wise and evil mind they have.
$24k is the buying rate.
So what is the selling rate?
$23k? It is an easy money if they will sell big amounts.
Then, they could just reason out that the dump came from the people who sold all their bitcoin together.
Yes, that might happen. Getting rich using the mayhem that is happening on their country. What a wise and evil mind they have.
Maybe it could be Yes. or is it just linking the current problem with the rising price of Bitcoin ... Well! people can speculate anything about the price of Bitcoin whether manipulation or not. However, if we talk about the fact that the current movement of Bitcoin could have been influenced by Halving Day which is getting closer I guess
If this were the actual market at 3x the price, there would be massive plays into this to drive the price to equilibrium on arbitrage profit. But you won't see this really since it doesn't exist.
It's kinda hard to actually benefit from any sort of premium in countries like Iran, Venezuela, etc. The actual liquidity is so thin that you probably will waste more time than actually make money waiting for your orders to get filled. Every 1BTC you add to the ask pool will significantly increase the available supply and tank the premium hard.
Also, what we consider premiums are premiums over our spot price. For people in the aforementioned countries these aren't premiums, but their spot prices. There just isn't a way to acquire Bitcoin any cheaper. Not saying it's totally impossible to arbitrage back and forth, but people's glorified idea of arbitrage trading just doesn't come to fruition here. Can't make it sound any better.
In countries where crypto exchanges are not present and banks don’t support fiat to crypto conversion, prices of bitcoin in such countries are always high at localbitcoins. In my country price of bitcoin at localbitcoin is way high. I didn’t checked localbitcoins of iran before this attack but I am sure it must be at high end.
The events in Iran gave the opportunity to greatly inflate the price of Bitcoin to speculators on localbitcoins. Iranian citizens apparently can't buy Bitcoin on the Internet at the usual price, otherwise who would buy digital gold at such an inflated price.
-snip-
that "edit" is also wrong. nowadays they are turning Iran into China as far news goes (eg. China banned bitcoin!). they release some nonsense not at all researched article and people eat it up.
the fact is that the "official rate" of USD in Iran is around 12k which is also the street value of it and with that rate you can see that bitcoin is being traded around the same price that it is everywhere else. and nothing has changed over the past couple of days that this news keeps coming out.
as for 42000 it is not "official rate". USD has one rate but this low value is the rate that government sets for importing certain basic needs such as medicines so that it can prevent super inflation of these items.
It's a worthless article for sure, but how is their clarification wrong? From what I can tell by your explanation, you basically just said the "official rate" isn't the government rate, but rather the street value. If we take semantics a bit more loosely, you're both saying the same thing: that Iran's government has its own dictated forex value (which the article refers to as the "official rate", whereas you simply describe it as government-set value) separate from its actual value (which you refer to as the "official rate", or street value which you and the article agree with), and that no one really uses it.
...or did I misunderstand you somehow?
What going on price bitcoin in Iran and global country have far away, Iran bitcoin raise above $24k and global bitcoin price only above $7500, why more than $16,000 price gap between in Iran and global currency, how does not possible for bitcoin member arbitrage from global bitcoin and selling with Iran bitcoin, most profitable.
There are very few offers, when that happens you can manipulate the price. But that doesn't mean you'll sell many bitcoins at that price when people are aware of the value of bitcoins on the open market.
It was just sensational news, that's all.
It was just sensational news, that's all.
Yeah, clickbait gets all the clicks. Low liquidity. Potentially a shitty fiat currency that is highly speculative to devalue. In spots like this, you can see very weird price points. If this were the actual market at 3x the price, there would be massive plays into this to drive the price to equilibrium on arbitrage profit. But you won't see this really since it doesn't exist.
internet is the most liar among everything thats why dont just believe in what you are reading and sometimes is not worth the time.
it seems that the article is Fake because there are some claims above pointing that it isn't true as we knew Media mate,they will do everything just to sell their News.
it seems that the article is Fake because there are some claims above pointing that it isn't true as we knew Media mate,they will do everything just to sell their News.
It's normal that during war of some uncertainty, people are always scared of the aftermath, they just buy and sell in panic for unforeseen occurrences and people just make money while other loss.
try to read above conversation mate and you will find the right term to use about this matter.
It's normal that during war of some uncertainty, people are always scared of the aftermath, they just buy and sell in panic for unforeseen occurrences and people just make money while other loss.
when the general of iran killed General Kasim, panic and chaos happens in iran
then the price of oil and bitcoin rises, i think there are people who is just capitalizing
on the situation like what happen before on other countries where in everythings price
skyrocket, since the government of iran is against bitcoin, and having caught mining
will result to something as a penalty, i dont think the people there will do such a risk
just to be rich, there are people i think that is just maybe not in the country or black
market trying to fuel this just to take advantage of the situation
Here is the link, saying it all that will show that bitcoin is being control in iran
by i think, group of organization trying to take advantage feel free to read
https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate
Yes, bitcoin is actually controlled exclusively by forces in Iran and trying to sell bitcoin at a price three times higher than it currently is. This is an unacceptable act and it will have implications for the future of bitcoin. When there are many buyers with high prices for bitcoin, they will be willing to sell bitcoin at a reasonable price when it is growing again. Besides, this job will make many people poor because I believe that the price of bitcoin will soon increase, I am really urgent about this! then the price of oil and bitcoin rises, i think there are people who is just capitalizing
on the situation like what happen before on other countries where in everythings price
skyrocket, since the government of iran is against bitcoin, and having caught mining
will result to something as a penalty, i dont think the people there will do such a risk
just to be rich, there are people i think that is just maybe not in the country or black
market trying to fuel this just to take advantage of the situation
Here is the link, saying it all that will show that bitcoin is being control in iran
by i think, group of organization trying to take advantage feel free to read
https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate
Maybe It has depending on the situations on going in Iran or somebody utilized the situation to get the benefits from bitcoins and making bitcoin manipulations in Iran.
The price is driven by local demand, and not adhering in global market standard. Since the internet has been censored, and exchanges are also retricted, that gives the actual market price, P2P exchange have sellers that actually increased the price based on the 'need' of such an asset. Although in my opinion, it's a blown up news. Though it could be also that the price is reasonable, and the tension in Iran really is drastic compared to what most of us knows outside Iran.
Though there's already some claims that it isn't happened and the value of bitcoin still close to what it is from the whole market but the possibilities are there, since there's ongoing tensions and most of the time wealthy people are finding ways to hide or divert their money to other form of assets, aside from gold if they knew about this crypto currency they will use it as form of storing their assets.
The price is driven by local demand, and not adhering in global market standard. Since the internet has been censored, and exchanges are also retricted, that gives the actual market price, P2P exchange have sellers that actually increased the price based on the 'need' of such an asset. Although in my opinion, it's a blown up news. Though it could be also that the price is reasonable, and the tension in Iran really is drastic compared to what most of us knows outside Iran.
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