Topic: Iran bans Bitcoin too - page 4. (Read 1262 times)
Iran is not suppressing the crypto market because of its suspicion of the crypto market. It is because in order to ensure the use of electricity for Iranian citizens, it has introduced a suppression policy of only four months to restrict the mining of Iranian Bitcoin miners.
The root cause of the ban is the country's electricity use, but most of the miners who mine in Iran are not supervised by the Iranian government. Therefore, Iran's policies cannot completely solve Iran's domestic electricity problem.
The root cause of the ban is for the country's electricity use, but most of the miners who mine in Iran are not supervised by the Iranian government, so the policies issued by Iran cannot completely solve the problem of Iran's domestic electricity use.
Iran recognizes the value of Bitcoin and the virtual currency market, and Iran itself is responding to its own electricity demand.
The purpose of Iran's prohibition of Bitcoin mining is not to suppress virtual currency or not to recognize the value of virtual currency. Iran has a small proportion of cryptocurrency in the mining field, so its impact on the market is also very small.
This is just another FUD. But I don't think that Iran's actions could affect this market deeply. Still, I don't understand why these countries are doing whatever China does to try to damage this market. Rather than banning, they can benefit from cryptocurrencies a great deal if they just make regulations.
Iran bans Bitcoin a few days after China did. This is coming after what seemed like an aftereffect of the Chinese action that saw Bitcoin dip severely (it still hasn't recovered from it).
I'm wondering if there are going to be any side effects or consequences for the Bitcoin community with the action taken by the Iranian government or is it just another case of "the snail shouldn't talk where animals with horns are asked for opinions"? Iran isn't such a big name in the crypto space, by the way.
According to report, the ban is a temporary one which will last only four months to enable the country correct its power blackout.
Do you think this ban from Iran is another FUD?
I'm wondering if there are going to be any side effects or consequences for the Bitcoin community with the action taken by the Iranian government or is it just another case of "the snail shouldn't talk where animals with horns are asked for opinions"? Iran isn't such a big name in the crypto space, by the way.
According to report, the ban is a temporary one which will last only four months to enable the country correct its power blackout.
Do you think this ban from Iran is another FUD?
Iran actually said the ban was only temporary, roughly 4 months, because people are mining illegally (either without government approval or stealing from the grid) are causing power cuts in large parts of the country. It is the only sensible decision the government could take really as it definitely would not be fair for the average citizen to be affected by the activities of a few seeking money. Bitcoin is actually a very useful tool to the Iranian government so I don't think they've taken this decision very lightly at all, because they have relatively few ways of raising money internationally and this was one of them. If I recall correctly Iranian bitcoin miners were responsible for roughly 6.5% of all activity, which considering they country is a pariah is very high and shows previous support from the government.
I personally think that Iran bans Bitcoin because of electricity, and does not say that it is forbidden to hold Bitcoin, because the weather is hot now and many places are unable to use hydroelectric power generation due to drought.
Iran banned Bitcoin because of insufficient electricity in their country. Bitcoin needs a lot of electricity. At the same time, Iran has ushered in the summer. There is very little rain and it is unlikely to use hydroelectric power. Therefore, Iran has banned for four months. I think when the Iranian goose winter comes, there will be a lot of precipitation. At that time Will they revoke their ban.
They just banned Bitcoin mining because of power shortages, but did not prohibit the purchase and use of Bitcoin, which will not affect the entire cryptocurrency market.
I think the news itself has little effect on the price of Bitcoin, but it is used by people to lower the price in order to buy more Bitcoin at a low price.
With the rumors that bitcoin will be banned in China and now in Iran, the value would surely be affected a lot which means the bearish market might last for a while. Considering that the energy consumption due to bitcoin mining was one of the cause, it is somehow understandable and also Iran is not really fond with the use of bitcoin. A lot of people in there will surely be affected but we all know they will still make a way on how they can gain profit and use bitcoin amidst the current restrictions being summoned upon them.
These banning news have all over been in the market for a long time and it keeps on affecting the market. Well, it's not really new and it has always been affecting the market regardless where the news is coming from. As long it's a negative news, see to it that there will be the negative impact of it afterwards.
im sure if every country will make regulate this coin, the effect can make them shaky. it can make shake every economy country, and some of them ban to save their way. and people still use this coin, for investing or whatever it is to grow their life.
impact just for that country.
If it's only temporary ban, then i don't think there will be any impact from that, even if there is, it wouldn't be to significant. Ae you said, Iran is not that big name, not trying to look down Iran, but unlike china who hold a big power in the economy, and will be able to impact things, Iran doesn't have the same impact. Even, the dip from China is still bearable though, not that severe that we're desperate for it. I guess everything will be just fine.
impact just for that country.
And besides, I am not surprised with this move from Iran. This country seemed to move backward instead of forward. As you said, they have no significant impact in the market. Even if they totally ban the usage of crypto, a lot more countries are very open with crypto market. So it is not the loss of the market, but the loss of their people. They should think of the welfare of its people especially during this pandemic.
im sure if every country will make regulate this coin, the effect can make them shaky. it can make shake every economy country, and some of them ban to save their way. and people still use this coin, for investing or whatever it is to grow their life.
impact just for that country.
If it's only temporary ban, then i don't think there will be any impact from that, even if there is, it wouldn't be to significant. Ae you said, Iran is not that big name, not trying to look down Iran, but unlike china who hold a big power in the economy, and will be able to impact things, Iran doesn't have the same impact. Even, the dip from China is still bearable though, not that severe that we're desperate for it. I guess everything will be just fine.
impact just for that country.
With the rumors that bitcoin will be banned in China and now in Iran, the value would surely be affected a lot which means the bearish market might last for a while. Considering that the energy consumption due to bitcoin mining was one of the cause, it is somehow understandable and also Iran is not really fond with the use of bitcoin. A lot of people in there will surely be affected but we all know they will still make a way on how they can gain profit and use bitcoin amidst the current restrictions being summoned upon them.
Iran ban Bitcoin mining but not bitcoin at all. I think mining Bitcoin is the Huge amounts of energies consumptions loss. Many countries governments already declared to ban mining but not bitcoin any more. Iran governments also ban Bitcoin mining.
Iran Banning Bitcoin rise the value of bitcoin to $40,000? These news are getting ignored by the hodlers, Im sure whoever push that up is very eager to buy bitcoin at low prices more.
Because there are no important exchanges or companies that accept Bitcoin in Iran.
If you heard that Mongolia or Zimbabwe banned Bitcoin, would you really care? That's unless you live in those countries of course
Most people care only about world superpowers and the places they live in, that's all. There are countries that mean something and countries that nobody cares about economically. Iran used to be a great country before the revolution. Now it's only known for its nuclear weapons that officially don't exist
Misleading title of the topic.
-snip-
The government needs to find ways as it is there obligations to their people, it isn't personal with the mining industry but more on the issues with country's power shortage.-snip-
If it's only temporary ban, then i don't think there will be any impact from that, even if there is, it wouldn't be to significant. Ae you said, Iran is not that big name, not trying to look down Iran, but unlike china who hold a big power in the economy, and will be able to impact things, Iran doesn't have the same impact. Even, the dip from China is still bearable though, not that severe that we're desperate for it. I guess everything will be just fine.
It is a temporary ban. No Iran has a weight in the mining ecosystem, 4% if I am not mistaken.China is another complicated story and has a heavier weight indeed.
If it's only temporary ban, then i don't think there will be any impact from that, even if there is, it wouldn't be to significant. Ae you said, Iran is not that big name, not trying to look down Iran, but unlike china who hold a big power in the economy, and will be able to impact things, Iran doesn't have the same impact. Even, the dip from China is still bearable though, not that severe that we're desperate for it. I guess everything will be just fine.
They definitely did not ban Bitcoin because as far as I know they only you can not do any sort of crypto mining during the summer to save electricity but surely that would'nt effect much on the price and meanwhile they can continue buying or selling coins of their choice.
The funny thing is nobody actually mines btc, as you need special purpose asic machines, which cost a fortune in Iran, lets say that when they say 'mine' they're probably meaning gpu mining, which most of us can do, in a closet in the house.
Even CHIA, has taken all of ASIA by storm, which is hard-disk mining; most btc mining 90% is done in coal burning regions of china, that's where the mining hw is built, & deployed.
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