Topic: Bolivia Bans Bitcoins! - page 5. (Read 6330 times)

Exactly my view too, minor countries banning bitcoin will only hurt their citizens, and will cause no harm to bitcoin.

In fact in the long to medium run it could even benefit bitcoin because people may try to get rid of these currencies being afraid of a collapse. As such measures are a sign of a weak currency being scared of bitcoin. Also it might once again stir up some discussion about bitcoin being a currency or not.

From the same Bolivian legislators who have also wisely made it illegal to have sex with a woman and her daughter at the same time.

Ah, Bolivia, the home of the llama, the dumbest of all pack animals. The country still hoping to build a tunnel to the Pacific Ocean. The country where driving a car is tantamount to suicide. Unfortunately, that has not resulted in the extermination of the Bolivians, because there are very few (functional) cars there, the reason being that whenever a car has a mechanical problem it becomes permanently inoperable due to the absence of anyone intelligent enough to be able to fix a car.

To their credit, they were eventually able to kill Butch Cassidy and the Sundance Kid, although it did take over 1,000 of them to do it.

Ah, Bolivia, the only country in which McDonalds is unable to operate, because the concept of a restaurant is too complex for their bird-like brains. Where airplanes are illegal, because, you know, it's impossible to fly. That's logical right: it's impossible to fly therefore airplanes should be illegal. Very logical. Based on that logical insight they were invited to submit a team to the world math olympiad, but that proved impossible because they were unable to find any Bolivians who knew what math was. So, instead they had a tortilla eating olympiad in La Paz.

La Paz, interestingly enough has a few buildings which are over 1 story in height, presumably built by foreigners. The Bolivian architects specialize in constructing soccer fields, because nothing is more important than soccer, and they are safe. Safe in the sense that noone has been killed by a collapsing soccer field, the soccer fields, being, well, flat. Some goalies have been injured, however, by falling goal crossbars, so that is their current focus: improving crossbar joining technology to avoid goalie head injuries. This is very important because the soccer field is the most important part of every Bolivian city. It's the law there must at least one soccer field every 5 blocks.

The Bolivians like soccer because it is simple to understand: kick ball. At one point some Americans tried to teach them baseball, but that didn't work, since it involves using the hands and legs at the same time and other complexities like requiring the use of tools. The Americans tried tying a glove on a llama to demonstrate that animals, and by extension people, could indeed use tools, but the indios remained convinced tool use in sports was impossible so they made baseball and any other sport utilizing tools illegal, because they are impossible.

Bolivia used to be a much larger country. In fact, at one time all almost all of South America was "Bolivia", but the Bolivians kept starting wars and losing them. Every time they lost, they would lose more territory. Other times they just gave away territory. For example, around 1900 it was discovered that a Bolivian region called Acre had a lot of rubber trees in it, so Brazil told the president of Bolivia, who, like all Bolivians was an idiot, that they would like to buy Acre. The president said, "How much?" The Brazilians knowing how stupid the Bolivians are, said, "How about 1 horse?" The Bolivian president said, "Hah, what do you think I am? An idiot? I have lots of horses." Then the Brazilians said, "O, but this horse is perfectly white." The Bolivian president not having any white horses readily agreed to that deal.

Here's another story about the same guy, Presidente Mariano Melgarejo. Melgarejo means "stupid" in Indian language. In 1870, Germany invaded France. Melgarejo was infuriated because he had heard how beautiful and elegant Paris was. So, he ordered his top general to send the army to France and defend Paris. The general complained that the army would have to swim across the Atlantic Ocean. Melgarejo angrily replied "Don't be stupid! We will go around the ocean and take a short cut through the brush!"

Anyway, its a good thing they have banned bitcoins because you know crypto currency is impossible. It involves math.

The media has been eagerly waiting for the next Bitcoin story. This spells rally.

other country don't ban ... but bank blacklist client that it transfer to exchange.
what the difference ?

Visa and Mastercard have also banned sending bitcoins over their networks.

McDonalds has banned all Whopper sales!

Like when Cyrus began taking peoples' money, BTC took off to the moon.  Could happen again when the next crap goes down.

still missing the proof that the banks are banning PEOPLE from holding trading bitcoin. as all im reading is that BANKS wont hold / trade bitcoins.

EG
banks dont trade baked beans.. people do..

More correctly tries to ban Bitcoin. http://www.fincen.gov/news_room/nr/pdf/20140130.pdf Sounds like regulations to me.

Edit: IANAL The reality here is that all it takes is one government somewhere in the world issuing regulations related to Bitcoin to kill the ban. Any Bolivian lawyers care to comment?

This just in: exhaling CO2 (greenhouse gas) is now "banned". Extinction-level genocide to begin in 3...2...

 

No country has banned Bitcoin (title should be changed).


Have banks gained such a foothold as to make people believe they have the power of guns, kidnapping and cages like governments?

man central and south america are not places i would like to be.. so much turmoil in that region, possibly 2nd behind the middle east. it could be similar/equivalent to africa.

Bank bans bitcoin!

Alert the media!

And what is Bolivia's stance on Bitcoin?

Wow, that makes them the first country to ban Bitcoin entirely.

I knew it would be one of those Banana Republic South American countries. Their monetary systems are rapidly falling apart and they are desperate to control capital. If I was a betting man, I would be betting on them failing miserably.

Here is the original Spanish:


From http://es.panampost.com/belen-marty/2014/06/19/bolivia-el-primer-pais-americano-en-prohibir-bitcoin/

Google Translation:


My Translation:


There is little doubt in my mind that this is an attempt to ban Bticoin and other crypto-currencies; however the ban is contingent on no other country in the world regulating Bitcoin. The key word here is "reguladas" translated as "regulated".

Thanks! Not sure how I missed this.


  Now we're getting somewhere!

Bad news for them.

can we for once ignore coindesks interpretation of the news which thy sourced from panampost.

can we ignore panamposts interpretation of the news..

and can someone translate the actual banks source info.. so that we can see the actual wording the bank has used.

coindesk has exaggerated far too often with russia, china, etc before. so can we read source material before spreading rumours

http://www.scribd.com/doc/230438003/Resolucion-del-Banco-Central-de-Bolivia

using google translate.. what i take from it is that bolivian central bank BCB are telling financial institutions that in article 124 they can move money digitally through mobile apps as long as they meet tight security restrictions and ensure data stays private. and that these institutions can only deal with FIAT..

it then says that BCB has

which to me is the standard "investment risk" warning EVERY country has published, and that the BCB RECOMMENDS the ban of financial instittions USING bitcoin.

again like all countries banks have contracts to supply only FIAT. banks tdo not store or hand out cars, tins of beans.. only FIAT.

though im still reading it and will edit this line later. i do not see anywhere that stops INDIVIDUALS from purchasing bitcoins privately. and i do not see PRIVATE businesses cannot handle bitcoins.

South Americans, in general, are much more acutely aware of the precarious nature of government-issued money than North Americans and Europeans.

If a central bank is actively denouncing Bitcoin, then many of them will automatically start taking it more seriously.

I was just about to post it too...  This is sad their immigrant workers wont be able to take the advantage of bitcoin, but it is not going to impact Bitcoin as such.

Here's a cross-link to discussion of the Argentine crisis, since I brought it up:
https://bitcointalksearch.org/topic/argentina-debt-crisis-us-demands-15-billion-cash-bitcoin-to-rescue-656019