First of all I want to apologize to everyone about the grammar of the article! I am from vietnam and my main language is Vietnamese, so english is not my strength.
Thank you everyone for reading and following my post.
The importance of Bitcoin as a neutral and borderless currency is becoming increasingly apparent as the United States blocks Iran from accessing bank accounts.
The money in your bank account is not yours
US ambassador Richard Grenell revealed that his government expressed concern about the plan to withdraw 300 million euros of cash from Iranian banks in Germany, Reuters reported. "We encourage top government officials to intervene and stop this plan," Grenell said.
Iran seems to be swamped with new US sanctions after Washington withdrew its nuclear deal in 2015. But with President Trump putting pressure on Tehran, the Iranians were forced to move. Go to Bitcoin as a safe haven.
In other words, the Bitcoin network does not care who you are or why you make the transaction. It was a revolution in the form of the first neutrality that could be traded freely with anyone in the world. Bitcoin is easy to store - unlike gold - and you have complete control over your private key to ensure access to your assets.
Because of these reasons, electronic money is becoming more and more attractive, said Weiss Cryptocurrency Ratings analyst Juan Villaverde.
On the other hand, your bank account balance is for display purposes only. Even banks can freeze your account and the money will no longer be yours - which Iran is in.
The Iranian people and the US sanctions (and their government)
Despite these benefits, the Iranian government has not yet adapted to Bitcoin . In April of 1818, Iranian banks were forced to end their relationship with domestic electronic money exchanges - among rumors that Iran could issue a national electronic currency .
Senior market analyst at eToro, Mati Greenspan, believes that e-money can thrive ahead of government persecution and capital controls:
While trading volume LocalBitcoins to anchor price according to Bitcoin, the milestone also coincides with the peak period of economic instability.
The biggest increase occurred between December 2017 and January 2018 and the second increase in May 2018, when the US said it would not extend its nuclear deal with Iran.
Capture or let go
Chinese invented gunpowder nearly 1,000 years ago, and they actually used it when Europeans invaded the colony with guns in the 19th century. History has repeatedly proven, or you apply technology Or someone else will use it against you. Many times in history - whether it be guns, tanks, planes, bombs, banks, computers, internet ...
Some Iranian officials have discussed the possibility of using electronic money as a substitute for traditional international banking systems such as SWIFT and spying on international sanctions. Unfortunately, Iran's idea of a national electronic currency seems to be a farce.
National electronic money can not be boundlessly defined by definition, and is not neutral. Even if IranCoin is said to have oil patronage, such as Venezuela's 'Petro' , other countries can not accept it, at least with the United States .
So, sooner or later, Iran will realize the value of a global, decentralized and neutral currency where transactions are not censored and funds can not be frozen. With increasing pressure from the United States and its allies, Iran may become the first country to use Bitcoin as a financial engine.
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