Do Not Buy Cryptocurrency

TEHRAN (Iran News) Recently, the Hamshahri newspaper published an article stating: “The cryptocurrency market today mirrors the bitter experience of the 2021 stock market in Iran; a year when many people, hoping for quick and massive profits, poured all their assets into the stock market and ultimately suffered heavy losses.”

That experience showed that blind trust in advertisements and unreliable advice only leads to the collapse of one’s capital.

Now, the same scenario is repeating itself in a new form — the cryptocurrency market. Telegram channels and unlicensed exchanges, which have become even more active due to sanctions and the restrictions imposed by the Central Bank, play the same destructive role in fueling greed-driven excitement among the public.

In general, the roots of cryptocurrency production can be summarized in three layers:

A – Intellectual Layer:

The Cypherpunk movement and the belief in the necessity of privacy and freedom away from the gaze and control of governments and central banks.

B – Technological Layer:

Decades of research in cryptography, which led to the development of mechanisms such as Proof of Work.

C – Economic Layer:

The 2008 financial crisis and the resulting distrust in the centralized banking system, which provided a fertile ground for accepting the idea of an alternative monetary system.

Satoshi Nakamoto, with a completely hidden identity, combined the three layers mentioned above and, in the form of Bitcoin, laid the foundation not only for a digital currency but also for a technological revolution in the structure of global trust.

The identity of Satoshi Nakamoto remains one of the greatest mysteries of the tech world in recent decades. He is the creator of Bitcoin and the author of its original white paper (concept document) in 2008.

On January 3, 2009, Satoshi Nakamoto mined the first block of the Bitcoin blockchain, known as the Genesis Block. This date can be regarded as the starting point of the launch of the first cryptocurrency.

However, research indicates that the idea of “Bit Gold” had been proposed before Bitcoin.

Some speculate that Satoshi might have been part of a secret project of the U.S. National Security Agency (NSA) or the CIA. Although this theory is considered weak due to its contradiction with the interests of the U.S. Federal Reserve, some point out that the cryptographic algorithm SHA-256, used in the creation and distribution of Bitcoin, was designed by the NSA.

The enthusiasm of profiteers worldwide, and quite possibly intelligence agencies, led to the creation and release of other cryptocurrencies alongside Bitcoin to generate competition.

Given these points, entering such a hidden, unknown, and suspicious structure — whose very foundation is conceptually dubious — is purely risky. The rational recommendation is to refrain from entering it.