Post
Topic
Board Economics
Re: How the situation in Iran might impact Bitcoin
by
figmentofmyass
on 04/01/2020, 20:49:33 UTC
price has already affect BTC on the localbitcoins in Iran, it was posted by some user in similar thread which the price reaches up to $29K.

maybe a few coins were exchanged at those prices, but by and large that story was fake. the $24k number was derived from the iranian central bank exchange rate for USD which is totally suppressed. real BTC prices in iran are apparently in line with the rest of the world:

according to this report, these claims about skyrocketing price are bogus too. they are based on the central bank's official USD exchange rate, which is inflating the BTC/USD exchange rate. spot prices in iran apparently actually reflect the global market:

Quote
“It’s only possible for few businesses and government with special procedure to get that rate,” explained a crypto expert Ali Beikverdi.

“The official rate is what the central bank says. But literally, no one except some government organizations can get that rate while no one can use it. It’s a joke.”

“So if you wanna buy USD today in Tehran, the price is about 140,000 IRR,” he says.

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.