Topic: Bolivia Bans Bitcoins! - page 4. (Read 6330 times)

I know there is some controversy here over whether it can be fairly said that Bolivia has banned bitcoin. In my defense:

1. The quote from the article above sure makes it sound that way.
2. The article goes on to say "The decision to fully ban bitcoin puts Bolivia in unique standing in the international community..."
3. The title was just too rhythmic to resist. It just rolls off the tonque. 

I do agree that edicts like this one will have little effect on the gray/black market use of BTC and will probably just wind up an embarassment to the government.

Vietnam did didn't they?

I thought I remembered hearing something like that, no?

Says here on wiki too. This this incorrect?

http://en.wikipedia.org/wiki/Legality_of_Bitcoins_by_country

lock this thread, sheeple are starting to think bolivia banned bitcoins from human use.

bolivia only banned the banks themselves from handing out bitcoins.. just like baked beans and gravy..

move on with your lives

Even if this news does mean that Bolivia really banned BTC - question is, to what extent this ban could be enforced. A lot of the economy in countries like Bolivia goes on in the gray/black area. Without the gray/black economy most people there simply can not survive. The government in Bolivia certainly has a lot less effective influence on everyday life than in western countries.

Of course it would be better if they realized the positive potential of Bitcoin to grow their economy.

...and nobody cares.

They were a lot of stories that a Central-bank from one country or another banned Bitcoin.
What does it mean concretely after my interpretation ?
(I am not a lawyer but I have studies in economy and trading.)
The Central-bank is nowhere a legal or executive organ. That would be the parliament or at least the finance minister.
I could also say also that the USD is illegal or banned but it doesn't have any compulsory consequence for anybody.
So if anybody is trading or accepting Bitcoin in a country where the Central-bank banned it, he doesn't make any illegal action just because the Central-bank says so.

However to avoid problems:
- Why should somebody exchange in fiat if he has his prices in BTC ? He can keep in BTC and spend in BTC then the Central-bank is not competent for that use.
- If somebody needs fiat then should show the fiat prices and those who are buying with BTC can use something like Bitpay. Then there is again no problem. I am not sure if it exists something like Bitpay for specific local currencies.

What can happen in worst case that the Bank will not make the clearing for a trading to exchange in fiat or will suspend the involved account.
This decision is made based on the interpretation that the involved person made an unlicensed financial transactioin what is not necessary a valid interpretation of the local law and could be fought in a court.
As Bitcoin is not considered money accepting Bitcoin is just like barter trading which is not illegal. It is like you would exchange your horse for a cattle.

People keep talking about this like Bolivia banned bitcoins.



Misleading title is misleading.

They have like, three IP addresses, right?

For a Bolivian to be here, they would have to know how to use a computer. Also, they would have to leave Bolivia in order to find a network port to plug into.

What are you? A science fiction author or something?

nobody cares
i never meet bolivians here in bitcointalk
i thought only few people use Bitcoin there
but usually after gov banned bitcoin, many people will know about it and interesting about bitcoin

the truth is they can't..! but if they get to know about it then they might do something..!

How do they control if people stil use it or not?

I like the title of the Post shared on Panampost which says " Bolivia Not Revolutionary Enough to Tolerate Bitcoin " this is exactly what i think , If i'm not wrong there GDP was 27.04 billion USD in year 2012 and bitcoin's market capitalization will surpass that in upcoming years .

Look into the link below . If that helps.
bitlegal.io

How many countries have banned bitcoins?

Crap.  There go coffee prices!

It's fun to ask Peruvians about pisco, especially what they think of Chilean pisco.

I though bitcoin banned Bolivia. 


This needs some clarification obviously but isn't a major issue either way. Bolivians will find a way to get bitcoin if they want it. This makes it more valuable there.