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Iran: Use of Bitcoin Increases

Sunday, January 7th, 2018 | bitcoin updates

According to media reports, the use of Bitcoin by the Iranian population has increased dramatically since the beginning of the demonstrations. Danger for the local economy, because the US government recently threatened Iran further sanctions. Parts of the population fear a devaluation of their currency, the Iranian Rial. According to recent statistics, Bitcoin's nationwide trade has increased by over 1,000% since Christmas 2017. The Iranian missile program is freezing the assets of five companies suspected of being actively involved in the country's rearmament. In addition, the US wants to take action against persistent human rights violations. In this regard, a special meeting of the UN Security Council was scheduled for Friday afternoon in New York. In Iran over 1,000 demonstrators were detained and more than 20 people were shot in the street. Add to this the increasing restriction of telecommunications. For example, the messenger services Telegram and Signal were blocked in Iran in order to prevent the demonstrators from encrypted communication. The cause of the protests was the increased rental costs associated with high unemployment, social injustice and the country's persistent poor economic situation. After the outbreak of the protests, the country's army was sent to three districts to bring the situation under control. The general uproar seems to push the crypto currencies hard. For example, Tehran blockchain expert Ziya Sadr told the International Business Times that he had invested his fortune in various cryptocurrencies. He cited the unstable economic situation in Iran as the reason. Sadr believes that the belief in the national currency is dwindling more and more. In his environment, several people would have done the same to come before a possible devaluation of the currency before. Sadr recommends that all Iranians invest their money in Monero because of their anonymity. So far, there was no indication that the Tehran government wanted to ban the use of Bitcoin or Monero. The members of the community are certainly in a position to circumvent the state censorship measures. In addition to constant Internet failures it is also more likely to come to the failure of telephone lines and mobile. Apart from that, various technical measures to block social networks were not installed until yesterday. Therefore, within the crypto community, using the Tor network or a VPN, one can handle the censorship quite well. A Coin Dance statistic shows an increase in Iranian trade volume of 1,000% since December 23, 2017 compared to November. Bitcoin worth over $ 70 billion is said to have been traded in Iran. The number of state-owned P2P trading platforms is said to have doubled in recent weeks. Although blocked in Iran for a long time, is also called on Twitter, the country's own fiat currency to turn their backs. As the economic situation worsens as a result of protests and US sanctions, a further increase in the use of cryptocurrencies is very likely in Iran.BTC-ECHOAbout Lars SobirajLars Sobiraj began in 2000 as a career changer for various computer magazines. In 2006, gulli.com added new priorities: network policy and copyright. After leading the editorial team until October 2012, he now works freelance for various online magazines and of course for his own project, Tarnkappe.info. In addition, Lars Sobiraj teaches students on Sustainable Marketing & Leadership (M.A.) at Cologne University of Applied Sciences Fresenius how to use the Internet and social networks. Some time ago, there was a growing interest in cryptocurrency, which fortunately works without the control of central banks. He would like to do his part to ensure that Bitcoin & Co. are of interest not only for pure speculators, but also for the woman and the man next door. All posts by Lars Sobiraj Image Sources iran_bitcoin_shutterstock_641379091: https://www.shutterstock.com/ de / image-photo / bitcoin-currency-symbol-on-flag-iran-641379091? src = LMdYaj7oHyS9ISnt5eiSxw-1-1

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