Why the price in iran of bitcoin is manipulated - page 2.

CryptoBry

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Quote from: akirasendo17 on January 05, 2020, 10:24:11 AM

...bitcoin is being control in iran by i think, group of organization trying to take advantage feel free to read

There are many ways of manipulations, some ways can be visible or can be traced while others can be subtle. Now, even just holding Bitcoin and not selling at the current price can be in a way a form of manipulation. In case it is true that in Iran Bitcoin has already reached a very high premium price, it can be because there are people who are looking for this cryptocurrency maybe as a form of preserving their wealth in the face of a "possible" war with a big country like the USA. Had there been no demand there will be no such a surge in price. The same thing with oil. In any case of a sudden burst of price, there will always be people who can be benefited and that is just very normal. There will be people who are lucky enough that can turn problems into opportunities.

LUCKMCFLY

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The important events that occur in Iran, somehow the market speculators try to take advantage to sell more expensive, when in a very bad economy country, they usually have two exchange rates, the normal one that puts the government or Central Bank and the that imposes the so-called "Black Market", where it is the one that comes closest to reality when in a country it has exchange control.

This type of supply and demand that is created is alternate to that placed by the Central Bank, in every way it is handled is the black market tax, perhaps, taking into account this premise is that that price level was formed for Bitcoin in Iran usually does so when it is a country with high inflation and people want to safeguard or shelter their money there.

jseverson

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The article has been updated since you posted it:

Quote

In reality, it is not uncommon for countries with weak national currencies — such as Venezuela — to have dual exchange rates: one “official” rate set by the country’s central bank and the other, the actual market rate, or the real amount of dollars a regular person would get for their rials.
[...]
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.

So no, there's no manipulation going on, and there's probably no premium for Bitcoin either.

Yaunfitda

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Fake news: The Bitcoin Price in Iran Isn’t Even Close to $24,000 Despite Reports Claiming Otherwise. As per that article:

Quote

While that is the official Iranian central bank exchange rate, it is not the proper market value.

That exchange rate is only used by banks, and the government.

Everyone else used a rate which is roughly one-third of the official rate.

As such, the bitcoin price is Iran is just $8,000, not too far off from the actual global market value.

There is still a premium to be paid, but far from a steep one.

It is evident to put things like these in their proper perspective at all times.

Falsely reporting the bitcoin value in Iran is something everyone should avoid.

There is enough fake news on the internet as it is, and bitcoin’ reputation shouldn’t be tarnished by it.

MURONDI

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if you really understand the news then the price isn't really $ 24,000, In reality, it is not uncommon for countries with weak national currencies to have dual exchange rates: one "official" rate set by the country's central bank and the other, the actual market rate, or the real amount of dollars a regular person would get for their rials, here it is clear that these prices are not real prices, I'm sure no one really wants to pay this much per Bitcoin.

seoincorporation

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So, of a country decide bitcoin cost for that place it means two things:

1.-Government has a lot of Bitcoins.
2.-People can do a lot of money by buying cheap and sell them in Iran.

ralle14

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Quote from: southafricadude on January 05, 2020, 12:25:11 PM

Supply and demand. Maybe you dont want to sell your bitcoin, but everyone has their price.

It's not about the supply and demand. They mentioned in the article that the real price of bitcoin in iran is still close when compared to other countries. It only seem high at first because the rates are low for the exchanges but the truth is they're using a different rate and not the official one. The situation in Iran seems to be like that for quite some time as i've seen older discussions about having way different rates and now it's being brought up once again after what happened recently between them and the US.

th3nolo

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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.

southafricadude

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Supply and demand. Maybe you dont want to sell your bitcoin, but everyone has their price.

akirasendo17

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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

Topic: Why the price in iran of bitcoin is manipulated - page 2. (Read 386 times)