IRAN COULD BECOME FIRST COUNTRY FORCED TO USE BITCOIN

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IRAN COULD BECOME FIRST COUNTRY FORCED TO USE BITCOIN

Wed Jul 11, 2018 9:37 pm

THE MONEY IN YOUR BANK ACCOUNT IS NOT YOURS
On Tuesday, U.S. ambassador Richard Grenell revealed that the U.S. government is extremely concerned about Iran’s plans to withdraw 300 million euros in cash held in German banks, Reuters reported. “We encourage the highest levels of the German government to intervene and stop the plan,” said Grenell.

Iran seems to be feeling the pinch of new U.S. sanctions imposed after Washington withdrew from the 2015 nuclear agreement. However, as the Trump presidency ramps the pressure on Tehran, Iran’s population has been increasingly turning to Bitcoin as a safe-haven due to its borderless and apolitical nature.


In other words, the Bitcoin network does not care who you are or why you’re making the transaction. It is revolutionary in that it’s the first neutral form of money that can be freely transacted with anyone across the globe. What’s more, it can be easily stored — unlike gold — and control of the private key ensures that you have complete control of your money.

It is for these reasons that cryptocurrency is becoming increasingly attractive, according to Weiss Cryptocurrency Ratings analyst Juan Villaverde, who explains:

In the past, when corrupt governments devalued their local currency or seized assets from citizens, investors ran to the US dollar or gold. […] Today, many are moving into cryptocurrencies, where their money sits on a global distributed ledger that no central bank or government can touch.


https://bitcoinist.com/iran-first-count ... e-bitcoin/

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