Quote from: Jating on January 04, 2020, 06:17:01 PM

Quote from: Jet Cash on January 04, 2020, 03:49:49 PM

Apparently the price has trebled on the local Bitcoins market. So is it rich people trying to preserve their wealth, or is it people using it for everyday purchases? Mohammad Reza Pourebrahimi, chairman of Irans economic commission, has stated that more than $2.5 billion has been transferred out of the country via Bitcoin. Will this be the primary function of Bitcoin as we creep towards World War 3?

This could be another use case for bitcoin if ever there's a conflict between Iran and USA.

Censor resistant BTC could be the only way that rich and wealthy Iranian can bring their money out of the country. I don't think that Iranians are going to use bitcoin for every day purchase though, I'm not really sure if there are stores that are going to accept bitcoin as mode of payment. So most probably, the rich and elite are going to bitcoin or crypto to hedge.

Its possible but it would be too late for that. They must have figured this will happen long time ago since Gaddafi and the rest, they must had purchased weapons long time ago. If the government are the ones buying BTC, this wouldn't be for weapons but to save the economy just like wealthy Iranian businessmen too afraid to lose their money when economy collapse.