Iran Changes Law to Use Bitcoin For Imports

Iran Changes Law to Use Bitcoin For Imports

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  1. Im Iranina . Iran has 4% of btc hashrate which is huge . The biggest farms are for government (of course not announced officially) . Police captures not licensed btc farms and takes ascis to government farms .
    Iran now has no choice . The government has to use btc for import . Mostly from china .

  2. This is the beginning of the final form of Bitcoin – State actors mining to defend their own international transactions.

    And when this arms race picks up, that’s when the moon will be nothing but a small dot in the sky, as we admire Jupiter passing us by.

  3. Now I want to know, when will Iran sell oil to those who pay with ₿? There are those who are interested in bypassing the USD. What would the US do if China started buying oil from Iran with ₿?

  4. Huge. We knew Iran was probably going to be the first one:

    > Iran has become the first country in the world to use cryptocurrencies at a state level for value exchange.

  5. > The Iranian Cabinet has amended legislation to redirect cryptos into the **Central Bank of Iran**’s funding mechanisms for imports,

    what? can someone breakdown what this means?

  6. I can’t say I wouldn’t have preferred some other country leading the way, like Norway or New Zealand.

    If we are **lucky** this leads to a competition.

    If we are **unlucky** this leads to a smear campaign that makes bitcoin pretty much noninvestible for other states or public companies.

  7. And what exporter would accept bitcoin unless he’s some whale. Bitcoin can’t be a currency to be used in trade because it’s too volatile to be used as a means of exchange. I wouldn’t want to be paid in a currency that moves 10% in a day, too risky. It’s an asset, not a currency in my opinion.

  8. They’re doing this to get around US sanctions, I doubt it works. Don’t exactly know how it would be taken care of but I would imagine the US would just go after the people paying Iran in Bitcoin or the miners processing the illegal payments. Iran won’t be able to get it back into Fiat, It will be interesting to see how this plays out though.



What do you think?

Iran to use Bitcoin for imports