Bitcoin Forum

"Bitcoin is banned in many countries"

I see lots of newer users and even some older, more experienced and knowledgeable users on this forum say it. Where did it come from? If you hand half a brain to read Bitcoin news (coindesk, cryptocoinsnews and news.bitcoin.com are my go tos), you would realise that all recent events regarding governments and Bitcoin are mostly just anti-money-laundering restrictions, not bans against cryptocurrency.

one word: FUD (technically it is 3 words :D )

those who are saying it are either spreading FUD because they have some agenda they want to meat or they are uninformed users who have read an article online or a topic on the forum and now base all their knowledge on that.
and not to mention news sites such as cryptocoinsnews that you mentioned are the ones that spread these things sometimes. they never say it directly but post articles that point to bitcoin being banned in country .... with a lie.

If you're referring to the Chinese scare, it's branded as anti-money-laundering most likely because the government doesn't know what stance to take on Bitcoin yet and doesn't want the investments to run off yet (still, dropped prices to 750 and that's scary).
On one hand it's a decentralized currency that they cannot control, it's heavily taxing the nation's power grid and they don't like that. But on the other hand it is bringing in the mula and encouraging economic activity amidst slowdowns.
Judging by Xi's almost bipolar behaviour for the past week no one's really sure if China will ban bitcoin or not, hence all the discussions. But then again rumors of the ban were circulating back when I first joined too (late 2013) so who knows.

I read that many times and I am always quoting it that it is not really banned, and just "not being endorsed by the government"... Maybe signature campaign posters/farmed accounts are the ones always stating that it is being banned...  :D

Maybe they just lack the time to research and just focuses on earning in campaign... Get used to it, there are much worst post than that that I encounter everyday...  :D

On that topic it's really getting annoying, the general discussion page is just 50% newbies posting generic or controversial topics followed by a flood of people spamming the same message for their sig campaign quotas because they never bother reading beyond the OP. Bet those newbies are all alt accounts made for this purpose (sigdumping) *puts on tinfoil hat*. But yes, there are worse, still doesn't excuse them though

probably they know some countries that do not accept bitcoin as money, and then they say such thing that bitcoin is banned in many countries without making sure the statement or look for more accurate information, or probably just lazy to read the same threads.

the notion came from the naive understanding and sheep whispering of theories.

the REAL NEWS is that national banks can and should only be handling FIAT (legal tender of that nation).
the real news is that while saying to national banks that they should continue to only handle fit and are banned from handing non-fiat.

stupid naive people could not understand the difference between the national banks vs private/commercial banks vs citizens.

so these naive people thought citizens were banned.

again all it is stating is that banks should remain handling fiat (legal tender) and leave it for other financial institutions (investment/commercial banks, etc) can offer stocks shares, assets, commodities, foreign exchange etc

Lots of garbage news sites need to generate traffic so they print FUD with explosive headlines.
Saying something is banned or dangerous is a great way to grab peoples attention.
Unfortunately these sites only care about the money from advertisers so they will publish half-truths as long as it fills their pockets.

I think this is understandable for newcomers because there is still a lack of knowledge. Coupled with a lot of hoax news that mention bitcoin banned in some countries. I think this case the main problem. But if people who have long experience in the world of bitcoin say something like that, I think he has a specific purpose. Thank you

This is one of the possible outcome of underdeveloped minds who mistood and mix different articles and give birth to such rumors. Don't forget, our forum even got those members' population who keep applying for campaigns which clearly state in title- 'FULL' or 'CLOSED'.  
Recent waves from China about exchanges meeting with Chinese authorities is another catalyst for such rumor. Just from meeting, people blown a balloon of Bitcoin ban in China, amazing  ;D

As to newbie maybe they were just curious about it that is why they were asking without reading bitcoin news regularly especially here in forum.
Yes! A lot of news saying that bitcoin was banned in some countries that is why  they are so confused, let us just understand and explain them so they will be enlightened.

These are statements that do not really make much sense, and I also have no idea where they got this information from. I think this comes from users who do not search properly before posting, or have probably seen other people comment on it, but have not looked for reliable sources to be sure.

People are running out of ideas for new posts in the Bitcoin discussion section and are posting the first things that come to mind to start yet another thread regurgitating the same old "Bitcoin is banned in many countries".

Well the status change daily for some countries... Currently, Iceland, Bolivia, Ecuador, Kyrgyzstan and Vietnam are the only countries that seem to have

some level of bitcoin ban in place. Russia and Thailand seemed to have outlawed digital currencies then backtracked... depending on the mood of their

different government departments. One day it's banned... the next day, the Bitcoin friendly again.  ??? ??? ???.... To make it even more complicated, we

have fud being distributed by the media.  >:(

Yeah it is generally FUD. I read the other day that Russia banned Digital Currency and because of that statement it seemed natural that Bitcoins are banned as well. They released a statement regarding that later stating that Bitcoins does not involve in the list of banned Digital Currencies. So, there's that.

I too think the same that government's haven't endorsed bitcoin as well other digital currencies feeling that it will affect the country's financial system. Another thing is the money laundering and other illegal activities for which bitcoin is used much during the starting time of bitcoin.

Every Government is only warning users against bitcoins due to its misuse and its irreversibility. They aren't planning to ban the currency till they get a solid reason but due to these news articles, many users do believe that this currency is illegal and is getting banned in the country. Just because it is being monitored, they believe that it would be considered illegal which is just FUD. Also, there are no licenses given by Reserve Banks for this currency which is another reason.

it is because of two things: people repeating things they heard and have no understanding of, and also the media spreading false information in form of click-bait articles to generate money in their advertising network.
and as you said it is also misinterpreted most of the time too. for example the latest Chinese news is only an argument of fighting money laundering. or in many cases it is about taxation and regulations,...

It's true that while a country is trying to regulate cryptocurrencies, people immedialty jump on the fact that those countries ban bitcoin ect. It is the feeling that Medias try to make in the eyes on the readers, no matter is they are bitcoin users or not.
Sometimes i wonder if having regulations from gov can help from them to accept bitcoin

Exactly, the governments of some countries are just warning the users that this currency is out of third party control and thus there is no mechanism for solving disputes, that's it.

Here is the latest news from India,

Reserve Bank Of India Offers Cautionary Note On Bitcoin (http://paymentweek.com/2017-2-7-reserve-bank-of-india-offers-cautionary-note-on-bitcoin/).

Reserve Bank of India won’t regulate virtual currency Bitcoin, yet [EconomicTimes] (http://www.indiabitcoin.com/reserve-bank-of-india-wont-regulate-virtual-currency-bitcoin-yet-economictimes/).

Governments are neither supporting nor discouraging the bitcoin or any cryptocurrency, they are just discharging their responsibility.

I'm also getting tired of all the "bitcoin is banned" threads. I've been reading threads here for like 2 months already and I haven't really found news of any country of significance that has outright banned bitcoin. Most of those in the news are either countries trying to put up some form of regulation, like in China's case (which I welcome) or warning their citizens to be careful in using Bitcoin, like India. In fact most of the news I'm seeing is starting to be promising. For example the Philippines is starting to regulate bitcoin. http://www.philstar.com/business/2017/01/30/1667297/bsp-regulates-bitcoin-usage Though it might sound a bit threatening regular users really need not worry. Some people are already using it to send remittances, the gov't regulating it might encourage other workers abroad to use it due to trust. Who knows business might become more willing to accept bitcoin for payments here, after all foreign remittance fuel consumption here (makes up at least 10% of gdp).




I've been reading stuff in this forum for some time now and have never started a single thread, mostly cause I'm still trying to learn more and most threads have enough answers (of course unless there's like 50-80 pages to scroll through, hard to read all that). I just find it a bit weird that newbies are allowed to start threads. The worst that I've seen are those that would just post a url. Not a single sentence, not even a word, just a url. IMHO members should be at least Jr. Member rank to start their own threads. That should probably reduce the amount of spammy threads since they'd actually have to hang out for some time here to reach Jr. Granted, some Newbies do post interesting stuff but they are outnumbered by the spammers.

Most times what people engage in is just hear say and sometimes what they just decide upon is just the headline without even going through the content of the news. Another thing which is the most common us the fact that some people are just designed to be carrier of bad news, they are the ones that will predict a crash or a government functionary that have said something against bitcoin but will not report the first bitcoin ATM is Dubai or the adoption in Israel etc.

The thing is, a lot of people get the news from the mainstream, and the mainstream is known for getting things twisted. For example, i've seen "bitcoin banned in russia" numerous times already. My russian friends which are into bitcoin but in a casual way, have told me about it a lot of times already.

Now you know what is funny? the reality in which no country with even limitless resources could track you down and pinpoint the exact location or link any bitcoins to you if you simply pay a few percents to a mixing service and go completely off the radar, and actually any government's agencies acting against bitcoin is because they are unable to keep track of coin owners.


ALSO if anyone feels like there are junk posts being submitted you can easily ignore the users and stop acting like you all have blood that is not red :D

In general, people like to talk without knowledge. They are not investigating exactly.
Some news are entering interesting news headlines to gain hits on sites. People believe this news immediately.
If they read the Bitcointalk site they will have the right knowledge.