Iran bans Bitcoin too - page 5. | Bitcointalksearch.org

supine

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After China next is Iran so are we expecting anymore country to ban it too?
This news are creating FUD for the investors and I think OP should have given more information because one of the members cleared out the ban on Iran.

Quote from: ropyu1978 on May 28, 2021, 09:31:23 AM

Iran has not questioned the ban on buying and selling bitcoin, Iran only wants to ban bitcoin miners, not to ban bitcoin trading, because of electricity, energy and other problems,

Thank's for clarifying the issue about Iran Ban.

btc-room101

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Quote from: Zilon on May 27, 2021, 06:23:43 AM

I believe FUD should be a major factor why Iranian government had to make this decision on banning crypto. But considering the influence on cryto market I don't believe Iran has much to play in the industry.

The fear of uncertainty and doubt has made various nation panic over the how fast cryto currency has grown in the past. Although cryto is currency facing a big dip but many still believe it would retrace back thereby making new trend that might likely shake many nation's economy.

Offially Iran mines btc to bypass the USD embargo on IRAN

This post is 100% CIA FUD, probably to make the IRAN gov think about banning btc, which makes them more dependent upon usd fiat, where nobody on earth wants to be

Just like the china ban was BS, everybody in china, didn't get that memo, its funny how idiots in the west can be fed so much bile

Because of USA sanctions the people in Iran don't have a choice, its mine, or see their wealth lost to hyperinflation as the CIA has destroyed their economy.

hitsnorth

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Too bad. THe ones who want still gonna find ways to buy and use it. This isn't gonna last forever.

Shasha80

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Quote from: ropyu1978 on May 28, 2021, 09:31:23 AM

Iran has not questioned the ban on buying and selling bitcoin, Iran only wants to ban bitcoin miners, not to ban bitcoin trading, because of electricity, energy and other problems, let's see how the president will respond to bitcoin in the future

Even though Iran only prohibits Bitcoin mining, this FUD is quite bad for the price of Bitcoin. Hopefully this ban doesn't last long and the
Iranian government re-allow Bitcoin mining. It seems that the Iranian government has not yet realized the importance of Bitcoin for the future of
its country. Because if in the long run Iran doesn't support Bitcoin, it will only hurt the Iranian state itself. With the many benefits that Bitcoin
can provide, all countries should accept Bitcoin in everything.

Renampun

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Quote from: Mpamaegbu on May 27, 2021, 05:28:13 AM

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?

of course, this is another fud that is intentionally made by Iran to suppress bitcoin...

Iran, China, and several other countries just do things that are in vain forever because Bitcoin will definitely come out as the winner. Bitcoin cannot be stopped by anyone and any country unless the internet is dead.

ropyu1978

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Iran has not questioned the ban on buying and selling bitcoin, Iran only wants to ban bitcoin miners, not to ban bitcoin trading, because of electricity, energy and other problems, let's see how the president will respond to bitcoin in the future

humanvelocity

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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.

bitterguy28

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Quote from: acener on May 28, 2021, 06:54:57 AM

I expected more negative news to arrive ever since BTC drop down,

Actually the news comes even the price or market dumps so this is not the same issue.

Quote

I think it is a normal thing that happens in crypto the news regarding to BTC depends on it's price flow.
If it is flying high we would have so much great news spreading about it to create FOMO.

Depend on how you looks at it , and how you dealing with it.

Quote

If the price is dropping low there would be so many negative news to create FUD.
It is the pattern or whatever you call it that I've observe from the whole time that I have been on cryptocurrency.

Manipulating mate , that's what is happening .

acener

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I expected more negative news to arrive ever since BTC drop down,
I think it is a normal thing that happens in crypto the news regarding to BTC depends on it's price flow.
If it is flying high we would have so much great news spreading about it to create FOMO.
If the price is dropping low there would be so many negative news to create FUD.
It is the pattern or whatever you call it that I've observe from the whole time that I have been on cryptocurrency.

aysg76

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So they have banned Bitcoin mining for just 4 months due to blackout in major cities like Tehran and to they need to supply the energy to those cities.And this will not have any major negative impact on mining as they contribute nearly 4% of the total hashrate.They have just made this decision to electric shortage but not following any FUD because they maintain their foreign currency reserves with the help of regulated bitcoin mining.So don't worry about it.

Quote from: LoyceV on May 27, 2021, 06:01:05 AM

The reason for the ban is the energy shortage, partially caused by Bitcoin mining. The same article claims that most of the Bitcoin mining happens illegally, so I'm curious if the ban is going to help.
The main cause of the Bitcoin mining is of course the cheap electricity. If there's a shortage, it's too cheap.

Exactly the electric cost in Iran is comparitavely lower than major countries like US with 6.74% lower at 15,97 per Kwh which is beneficial for miners.But this is causing them shortages in major cities.

But yes how will they stop illegall mining farms who are using more than 2000 mwh energy as regulated ones are using only 300mwh energy as stated by the article.So how come this ban will help them in stopping those illegal mining pools?

Kelvinid

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I never expect a huge impact on the market, Iran is just a small country compared to and yet it has less impact on the price.

So no worries if Iran bans crypto, they will just turn it back again once they realize that Bitcoin has a good opportunity for their people (that only if the government will know it). To this time, the price isn't moving down, nothing has changed, so I was confident enough that the news won't bother us (if the rumor is true).

imstillthebest

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Quote

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

yes there is and its negative but its only minor given that iran only has small influence in btc and they clear it out that it wont last long .
they ban for a good cause but other countries can ban with a non pleasing reason ,
it will make them hated by the public . the follow up ban in iran after china and tesla can be a form of fud because this makes weak hands more scared .

samsul1234

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Quote from: Mpamaegbu on May 27, 2021, 05:28:13 AM

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?

hello sir, I think that Iran is banning bitcoin at this time maybe there are factors in its society that are frustrated because the market is going down dramatically at this time, and maybe Iran is keeping the electricity costs soaring while bitcoin is decreasing, I think this news is bad news for bitcoin, where people will definitely panic about this and will think in the future maybe other countries will follow to ban bitcoin

CryptopreneurBrainboss

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What's funny about this thread is that, just as the OP has titled it that how many enthusiast in the community will see the news not knowing the true intentions behind the ban. For starter, just as others have highlighted, bitcoin isn't been banned here. In fact bitcoin as a decentralized cryptocurency can't be ban.

Other related activities can be banned though like trading (only on centralized exchange but not peer2peer/decentralized exchange) or Mining like in the case above with the ban of bitcoin mining in Iran.

Is this act some fud attempt, probably as the negative news are coming in simultaneously. First it was Elon tweet then china and now Iran. There isn't no ccoincidence here it's clearly planned out.

Prettyjing34

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Due to power outages in Iran, President Hassan Rouhani has banned all cryptocurrency mining in the next four months. Some people speculate that it is because energy-intensive industries have caused power outages across the country, triggering a nationwide power outage. The public everywhere is dissatisfied.

Ozero

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Quote from: Jawhead999 on May 27, 2021, 05:46:08 AM

AFAIK Iran bans Bitcoin mining not bans Bitcoin itself, so people in Iran can still buy and use Bitcoin, they only can't mine again until September 22.

Iran is among top 10 mining countries, but it's only 4,5% from the world. I think it's only have less affect to the market or probably nothing.

CMIIW.

Well, banning Bitcoin mining in Iran until September 22nd isn't all bad news for cryptocurrency. The cryptocurrency will continue to circulate in this country without restrictions, and this is the main thing. It seems that after Elon Musk's statements about high energy consumption for bitcoin mining, many countries will begin to reconsider their attitude towards bitcoin mining, and above all bitcoin. However, this is unlikely to seriously affect the circulation of bitcoin.

In the silence

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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.

AniviaBtc

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It is no doubt when a middle-east country bans bitcoin because they are really against on something that is uncertain and they only settled on oil.

When a country is not that interested in a modern technology adoption then we have nothing to do with that.

Bitcoin will never become open or legal in most of the countries in middle-east and we should just focus on those governments who are open-minded towards it.

jinneas

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The mining industry has brought huge income to Iran, but due to the surge in electricity consumption for cryptocurrency mining in the country and the country’s current reduction in hydroelectric power generation, Iran is facing a shortage of electricity.
Iran’s four-month ban is to improve the current power shortage. It is just a countermeasure, but the impact will not be significant.

Tristan Bieber

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I don’t think Iran’s ban will have much impact on the cryptocurrency market. After all, its population base is small, and the number of people involved in cryptocurrency transactions is also very small, so we don’t have to worry or panic. From various data From the above, Bitcoin has a trend of recovery, and a short-term decline will not affect the future upward trend.

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