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Is Iran Bicoinising?
140 sats \ 5 comments \ @spiderman 4h bitcoin
I recently read about the hyperinflation in Iran where a usd costs like a million units of their money.
Is not this a scenario bitcoin was made for? So anyone has any insight on whether at least some Persians, especially the tech savvy folks, learning and adopting bitcoin?
Or are they all dollarising instead? Or better still, yuanising (to keep their boss happy)?
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2 sats \ 2 replies \ @standard_sats 1h
Bitcoin and Iran is never ending story. I guess as everywhere stablecoins are more popular for payments, bitcoins may be for savings. But it is poor country anyway.
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2 sats \ 1 reply \ @spiderman OP 1h
But apart from federal reserve induced inflation, even tether can block usdt transfers selectively whenever and wherever it wants.
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0 sats \ 0 replies \ @Solomonsatoshi 1h
Iran sells its oil to China because China can ignore the US sanctions and can pay Iran outside of the USD/SWIFT/IMF structure. Ditto Russia. Iran is a member of BRICS and mBridge along with Russia, Saudi Arabia and UAE. They are all enabling digital payments trade payments based upon Chinese/mBridge because China buys most of the oil and China provides a viable alternative to the USD/SWIFT hegemony. China dominates global trade in commodities and manufactured goods and so China is the 'boss' and both historically and logically dominance in trade leads to dominance in trade payments protocols.
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0 sats \ 1 reply \ @DarthCoin 3h
Is not this a scenario bitcoin was made for?
No. Simply no. Bitcoin is not about inflation.
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0 sats \ 0 replies \ @Solomonsatoshi 1h
And yet you resolutely boycott the MoE use of sats on Stacker News while posturing to be a Bitcoin Maxi who lives on the BTC Standard.
I say you are a fake and a hypocrit.
Actions speak louder than words @DarthCoin your actions are not those of someone who wants to and is living on the bitcoin standard- your actions are those of an arsemilking parasite hypocrit.
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