Post
Topic
Board Economics
Re: Iran accepting cryptocurrencies to avoid US Dollar
by
stompix
on 30/10/2020, 21:16:10 UTC
What will the next move us USA you think?

Nothing. Why should they do anything?

People are misunderstanding how sanctions work!
The US is not putting nano bombs in dollar bills that will explode if Iranians touch them, Iran can use its own currency for those deals the problem for them is in a totally different place, nobody wants to deal with Iran since they might get enrage the US and they would end up cut themselves from the all the US financial services, if someone wants to sell or buy stuff from Iran they can do it via Chinese banks using rials, yuans Russian rubles  

Do you think Boeing is not selling planes and replacement parts because they can't get paid in $ but they will once Iran pays in BTC ?
It's pretty simple, Iran doesn't lack the means of paying its partners, it lacks partners!

Quote
This makes Iran the first country to legalize cryptocurrency use at a state level. The new law amended means that all the legally mined cryptocurrency in Iran can only be exchanged against funding imports to Iran from other countries. Here the miner will be directly supplying the cryptocurrency to the central bank within the permissible limit.

Oh yeah, the start of the crypto-kolkhoz.