Today, without any prior notice, the Iranian government blocked all exchanges, which is alarming, as we now have no control over our own money. 🤦🏽♀️
Discussion
Fiat ?
No. Bitcoin and others
Any reason given?
The dollar’s price has skyrocketed and is increasing day by day. To control the currency market, they have frozen the accounts of all users attempting to exchange currency for the national currency or vice versa. So far, no definitive news has been released about lifting this restriction.
what money? if it was on an exchange?? also vpn an option??
bitcoin and cryptocurrency exchanges. it's not possible to change bitcoin to fiat or fiat to bitcoin
not your keys not your coins Pegah... 😟 hopeful for the best.
My friend, it's possible. Always has been. But most people slept on their fiat gains for a decade stopping adoption work on the ground.
This is haunting you now.
Look into Bisq and Haveno. And please, never store sovereign money on someone else's computer. It's beyond foolish.
Right now it's impossible to exchange your fiat to crypto in iran. It doesn't matter what exchange you use, whether it's bisq or whatever, you have to somehow give them fiat, so they give you bitcoin. Iran is under complete banking sanction. There is no connection between Iranian banking systems and the world . The only way to move money abroad is via crypto, but first you have to buy it. So if the Iranian exchanges Don't give you service, you can't do anything. Unless you know someone trustable that has bitcoin and he is willing to exchange it for fiat, which is rare.
Learn bisq, people. One by one, governments will get scared and block the off ramps.
Coming to an exchange near you soon.
Bitcoin scaling around CEX was a failure.
Glad we have Monero.
Glad we have Bisq.
Glad we have Haveno.
You never had control over "your" money [evil laughter] in an exchange. If that is news to you I don't know what you do in Nostr/Bitcoin?
But Monero is a shitcoin for being delisted from CEX, am I right?
We are no idiots. We understand we should use self custody, but here is something you don't understand. There is no way to move fiat out of iran. So you have to by bitcoin from an Iranian exchange and then move it to a self custody wallet. Iranian exchanges require a ridiculously high commission for that. The exchange that i use gets 40$ for one bitcoin transaction, and the minimum withdrawal is about 150$.
average monthly household income in iran is less than 250$.if you support a family you probably cant save anything. I'm a single man, living with my parents. I can barely save 40$ a month. I can't even reach the minimum withdrawal with that. After three months of saving I reach it, but I have to spend third of my savings on transaction fees. So the best thing I can do is buy bitcoin from the exchange every month for like 10 months, and then withdraw to a self custody, so I pay 10 percent for transaction not 35. So I have 10 month of my savings stuck in an exchange, and I can't do shit about it.
Mine?
Some years ago mining was a great idea. Now with the power shortage causing unannounced blackouts especially in the summer (in summers there is a 2 to 4 hour blackout almost every day), the government is very hard on mining and punishes it severely (unless you have connections in the government). There is a special cash reward for reporting miners to authorities. Still, Some people are doing it, especially if you can do it in a school or a mosque, it's almost free. (Public places get free utilities) Miners get discovered in such places a lot.
The Central Bank of Iran, in an effort to control exchange rates (effectively lowering the national currency's value), has decided to freeze the bank accounts of all cryptocurrency exchanges and payment service providers.
It seems to be fake news, since I don't see such thing on the exchanges that I know. Did you try it yourself?
Yes, I did. Anything is possible. I don't need to publish fake news on Nostr.
I didn't mean that you publish it for some specific reason, sorry if it sounds like that. I saw it has been stated on Digiato which is not a reliable source of tech news at all. The exchanges I know are still available and working. I know that they have blocked some exchanges since 2 years ago due to tax regulations.
Which exchange?
Can they withdrawal fiat to user's bank account?
I'm directly sending a message to CEO of one of those to check, I will update you. Nothing has been stated in IraniCard and some other exchanges. The news might be correct but still not reflected on their websites. I'm just waiting to get the answer.
He answered: "The accounts connected to the payment gateways are temporarily blocked, to control the fiat price."
So the news is correct. But it's weird that none of the exchanges reflect something in their websites.