Bitcoin Forum

Bitcoin is getting banned in jamaica heard recent news
about this ban, stated by the Bank Of Jamaica avoiding this virtual
currency called bitcoin. if you have anymore news leave in post below.
👍 respect. :)

11 times out of 10 a central bank 'banning' Bitcoin truly means 'please be careful. We're not going to cover your arses' when people can be bothered to read the 2-3 actual sentences what they wrote. And rightly so. It's not their problem. I'll wait to be proven wrong. It's what almost every other central bank has done.

Another source of information that I used to refer is this

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Some peole just use fake news or FUDs so they can buy cheaper
price. But the current trend get's cheaper and cheaper. It's difficult
to prove the original reason though. Anyway, the people I know who
still hodling bitcoin does not anymore care with the news.

this may indicate that although bitcoin banned by some central banks.
but this will not close access for us to keep using bitcoin.
and for that there is no need to worry about bitcoin banned that is almost very risky happen in some world banks.
a little bit of a concern even though I'm sure bitcoin will never die

central banks are always agains bitcoin and crypto .i dont feel worry about this news.bitcoin is one and only.

Exactly so many news about countries banning bitcoin is just false.

Probably fake news, but who cares it's jamaica this isn't going to matter anyway. And in the long run they will cry when they see the big countries are actually adopting.

Who cares

I don't think this thing makes sense. Does Jamaica count? I mean it is not a big country, but banning of bitcoin only affects big countries such as China, USA and Korea. In which in those country, FUD has risen.

OH NO !!!

what are we gonna do now ???

Care to share your source(s)? Google brings me nothing. You didn't make this up, did you?

Back in August Bank of Jamaica seemed rather positive about cryptocurrencies, so I find it hard to believe.


"[insert Country] BANS BITCOIN!" generates more clicks + people like to simplify things.

Can you share the official news regarding this Ban? Lots of My Jamaican Friends dont know about it surprisingly

not of my interest about Jamaica, it's just a drop in the ocean

That is very shocking! Please share your sources because I haven't heard any news on this ban If the ban is true we are in for an uphill battle friends.

Here is a complete list of countries where the use of Bitcoin as currency for individual persons is illegal:

Algeria
Bolivia
Ecuador
Kyrgyzstan
Bangladesh
Nepal
Cambodia
Indonesia

and now.. maybe Jamaica


Yeah....


The ONLY significant country with a really negative legal stance today is China. And there is nothing illegal about possessing, buying or using Bitcoin for private persons - as of today only firms are prohibited from interacting with Cryptocurrency.

I didn't hear anything. Where does this information come from? I think it's just a lie

The only source is the OP's anus. As ever it's complete bollocks misinterpreted by a pinhead with the reading comprehension of a kitten after a stroke.

Going to Jamaica in 2 months - I will have some BTC on my iPhone wallet, I wonder if they'll let me in  ;D

Looks like you will be in trouble ;)

In all seriousness, the banning talk is more media driven then anything else. The word ban is more of a clickbait then "regulators are looking into managing" type of things.

You just hit it spot on. Sometimes ago when there was proliferation of ponzi scheme in the country there were several bans by all of the regulatory bodies that have to do with finance but still they were unable to stop any of such movement of money since they can't stop.people from sending money to each other. All of the bans were just for them to say "we are aware of what is going on" and invest at your own risk and eventually when all of the ponzi crashed, no one could hold government or its agencies responsible the same thing going down here.

Even if bitcoin was banned in Jamaica, it does not matter much anymore. This small island state does not have much influence on the crypto currency. This state will return to the world of crypto currency if it continues its victorious procession. However, while bitcoin shows shocking volatility, its last drop of 64 percent after 1800 percent growth last year will not leave anyone indifferent.

I am not worried whatsoever

I highly doubt border security will say "unlock your phone, prove there's no BTC on there", there is literally a million ways to hide it

is jamaica a big player in the bitcoin world? i dont think so. but this news of "banning bitcoin" pops up every time when the prize should go down. conspiracy?  :o ;D

Very sad thing One by one comes the news of the banned. Which is not good news for cryptocurrency. Besides, investor worries due to the decrease in bitcoin prices for several days.

Even if this is true, as harsh as it sounds: who cares? the BTC bans that we've seen some countries (some user posted a list) will barely have a significant impact in the btc market, does anyone even know how high is the btc volume in jamaica?

This is just following the trend of "X country bans BTC" whenever there's a massive downtrend..these lame attempts to spread FUD are really pathetic.

How is this shocking? honestly, do you even care about what happens with cryptocurrencies in Jamaica?

I don't know why ban bitcoin in the jamaica area but according to my research. because maybe they do not want  bitcoin to jamaica's country because they know it's a scam. The Jamaica Information Service (JIS) recently reported that the Bank of Jamaica (BOJ) is “building cryptocurrency awareness.” The statement was provided on Wednesday, by the Bank of Jamaica (BOJ) Deputy Governor Livingstone Morrison, at the central bank’s quarterly media briefing.

You have to wonder at times if banning is in the interest of the people /customers of banks or for keeping the banks safe and countries own economies.

 Hearing that the bank of Jamaica have also  ban bitcoin is not a surprising news, this news did not just start.It is quite clear that both the Government  and the banks  have been issuing out bad news about cryptocurrency, warning the general  public not to have anything to do with Bitcoin. The government might have consider the Volatility of bitcoin especially, the  decrease of bitcoin price to a   very low in price , this may also be a contributing factor for such news to be release  at the period of decrease in the price of bitcoin. However this will not affect bitcoin much.

So which means the people spreading fuds and fake news try to control bitcoin price and use it as their advantage. But anyway, even i dont believe that bitcoin and other cryptocurrency will be banned in all over the world. People will find ways to have access in cryptocurrency even if government classify it as illegal, scam or ponzi schem.

 why are all these countries banning bitcoin? am not relly sure this jamaica news is true.

What do you mean by that? I believe that once regulations come in Bitcoin will become more safe and institutional money will start flowing in.

You really have to double check if the news is fake or not, some just spreading fake news to be able to buy bitcoin in a lower price and that will affect the market of bitcoin. Whether the news is fake or not, for as long as bitcoin is still existing in this world then that might not be a problem in my view. If Jamaica really banned bitcoin then maybe their government is not fully aware of the advantages that it acquired rather they focusing on the negative side of it.

Can you give a specific link that people can refer to? As of now, I search on Google but do not see the information that Bitcoin is banned at JAMAICA by the government. Some governments prohibit the use of Bitcoin by influencing the economy, fearing that the currency of their country will devalue when Bitcoin is formally accepted. However, putting the information without linking proofs that it is unreasonable to cause psychological panic for everyone.

There were so many announcements from countries central banks about banning btc like this and to be honest if Jamaica bans or adopts btc it doesn`t have an impact on crypto market.

This is the grand scheme to enable bitcoins become irrelevant. Government and central banks don't want to see the bitcoin technology taking their role as determinant and control of money supply.

The crypto market is quite interesting at the moment, the same banks that are in the forefront banning cryptos are the same entities actually buying more bitcoins so that the keep this competition in their favour as they can manipulate it when the hodl a lot of coins but its just a matter of time bitcoin and others alts will roam the market freely...lets keep holding fellow cryptonians.

Not like those broke ass pot heads have any money any way, bitcoin not affected.

Governments are doing stupid things against cryptocurrencies instead of accepting its power...

What type of shock you have felt by reading that fake news? There's no source that he can give so what can you expect?
No, don't believe this fake one. Jamaica isn't banning bitcoin don't be so gullible with such news without proof of legitimacy. This is horrible to see that people nowadays are literally buying the fake news and starting to believe that bitcoin is banned in different countries.

This one is pretty easily debunked, just do a simple Google search and you won't find any recent results of this so called "news".
I really wonder why someone even tries to post something like this without a single source  ::)

Same Algeria and Maroco ... third world countries trying to close up on their people financial freedom at all cost ,because they feel treatened it might
wreck their economy . Really sad to see ,but I think after the big leading countries start making clear rules and regulations on cryptocurencies.
These countries will follow and change their stance about it.
Anyhow news like this won't really affect the market unless it's from the big dogs.

But seems in Jamaica the situation is more complicated and shady than Ponzi schemes. It's about human trafficking, that is what is worring the local authorities. Anyway, I didn't find anything about a total ban over Bitcoin (yet). I don't doubt in few weeks or months they ban it completely because the reason listed above. They are studying what can be done about the issue, and what comes next is a ban or a heavy regulation, no doubt about it.

this sad to heard but please give the link about your news sir? maybe this an black propagate to destroy the bitcoin as virtual cryptocurrency
have many times i heard about central bank ban the bitcoin in a differrent country but until now people continue to adopt bitcoin in their lives this the proof nobody can stop the cryptos being decentralized currency using internet.
ban in one location but in other location can use bitcoin in online transaction to buy things using the new technology of digital currency.

Your subject says bitcoin is banned in Jamaica and here you are telling that bitcoin is getting banned,which one is true. ::) Either way ,even if there is a ban,i do not see any difference in the market as i am not sure what their trading volumes are and more over a central bank coming out and declaring a ban in bitcoin,i am not sure about that.

This news is very fake , in fact the central bank has formed a committee to look into ways and means how crypto currencies might be beneficial and to build awareness . I think this is the right approach as a number of islands in the Caribbean lost their correspondent overseas banks who simply dropped them as they claimed they were putting their banks at risk by doing business with some Caribbean countries including Jamaica. Some of the smaller island would have no doubt found this to have a crippling effect on their economy as business would have to scramble to  form new linkages to get cross border transactions done. I truly hope they can find a solution to this dilemma in crypto currencies.

I think this guy is spreading more fud to screw around with people. I did a Google search and there was no mention of Jamaica banning bitcoin, but I did found that the bank of Jamaica is planning to launch a bitcoin exchange.

Well , we can't do anything about it, some countries will ban it and some not.

This news was really really sad, what if other countries will follow.. I hope Government will study deeply about bitcoin for them to understand that this bitcoin is very beneficial to us. Not because they dont know about this, means its illegal.

... another country

Bad news, it is so hard to imagine that someday cryptocurrency will fall under the governments' restrictions

The ban on bitcoin is taking place in many countries around the world. But that will not affect the bitcoin too much. Countries that have banned bitcoins will still have a lot of people in that country using bitcoin. Governments can not come to each household to check on the websites that people have visited.
So bitcoin will continue to grow and you should not be so worried about them.

I think the reason why banks are banning bitcoin is because they are not getting anything from it. Bitcoin is already a part of our life and it's giving us earnings as well. Banning bitcoin and other altcoins should be stop. We just need to focus on eliminating the scam cryptocurrencies.

it seems that every central bank really wants to destroy bitcoin, rejection of bitcoin occurs everywhere
but also not a few who accept it, I prefer what is done by japan, japan really understand the technology unlike other countries, and one day those who refuse will regret it.

This may indicate that although bitcoin is banned by some central banks. But this will not close our access to continue using bitcoin. I am not worried about this news so much news about countries that ban bitcoin.

It's obviously bad news, and every time I hear something like that it makes me feel uneasy. Although I have faith in bitcoin.

Jamaica's ban on bitcoin has little impact on the world. It is not China, the United States, and such a big country.

some banks are prohibited from using bitcoin one of them is jamaica bank because it keeps including big influence from some big country country like USA and china. this not necessarily jamaica population do not accept ,, most of this population still use bitcoin as investment place ..

It is not bad news it is called FUD.News that is not true
Analyzing something to see how to control it does not mean it is banned.Like trying to control a car when you drive it does that mean cars are banned?

I don't even know what's the name of their currency, just to say how much I care about this news  ;D

Well yes we have got to blame someone, anyone instead of the development team for sitting on it's arse for eight years knowing that
Bitcoin would not scale and cashing in as miners and charging $55 per transaction eight weeks ago.

I mean no one told us that the new lightning network was off-block, you know off the marvelous block-chain that we all love or that
it was based on a system of banking hubs that charge both transaction fees and interest on BTC needed to keep the channels open or
that the protocol that won't be accessible from wallets give them bankers privileges.

No sir, we got to blame de rasta man, dem smash up de network, steel from I and I  ::)

Yes investment place and it says in your advert "ADEPT Blossom Distribution" and I was wondering if you have
any tulips for sale because I want to get in and make an "investment" before everyone else rushes in.

Facts are that most of the population don't even have access to electricity let alone go gambling on
digital coins so stop taking FUD just to get page impressions on you comments.

I think jamaica can also be banned because many countries banned it, but then it is starting to support all countries in a state of understanding that it is indeed a huge and unavoidable situation.

What does it mean by users? If you are a Jamaican citizen and earn/cash out bitcoins using other methods than bank transfers they don't have control

I heard more info and I was wrong about the ban of bitcoin in jamaica,
the banks where just letting people know that this currency cant be taken
to court if you lost money investing in this virtual currency bitcoin, they
where just giving a heads up warning news.

Dorlan Francis, a financial consultant, criticized the decision of the Bank of Jamaica to open Bitcoin's first licensed exchange with the country.

Change is an important thing, but they are difficult to bring to life. Any changes encounter resistance, which is proportional to their strength. Bitcoin forever intends to change the monetary system. And it is natural that there are people who are going to resist this, believing that states should manage the economy, and the new monetary system is meaningless and harmful.

Dorlan Francis, an independent financial consultant and author of the book Economic and Financial Crisis of 2007, recently wrote an article in which he urged to limit Bitcoin and other crypto-currencies working in a similar way. He also criticized the Bank of Jamaica for wanting to start regulating Bitcoin's local exchanges.

This's reason why it's alway poor

Hatsoff to Jamaica. when all are backing this nation came forward atleast bitcoins a chance to prove its worth. :)

Can you or anyone post some official link to the announcement? I want to know on what basis did they do soo :(

damn, its a bad news for bitcoin and other cryptocurrency price, because its makes bitcoin and other cryptocurrency demand on market drop and i think if other country do this again the price of bitcoin and altcoin will drop and drop again, so i hope that bitcoin and cryptocurrency makes the good news and big project so the price of bitcoin can rising up again and leave the low price value

Rather a courageous and correct step btcs either way would have destroyed the jamaican economy totally :(

Even the rastas have seen that make-believe money is no good - and being virtual it can't even be smoked.....

If bob marley was alive he would be supporting bitcoin, even writing reggae tunes about it. No more government control, banks investing out money into risky investments and asking tax payers to bail them out. Come on Jamaica, the home of Marley should be all about freedom

Fake news this is how peplw spreaded that bitcoin has been banned in Australia and India. When read the complete news we can able to understand that warning and risk involvment has been explained there is no other issues mate.
If you read the mutual funds and share market funds then you will be able to see the risk involvement policy in every country. So we cannot say it is banned or something. Same applies on bitcoin too.

Only bank of jamaica is avoiding virtual currency so that means not the government?why you people are so over reactants?this is too far from the topic itself.stop doing this thread coz its not helping our cryptocurrency world.lets get together to make a growth,every post we made must be in favor of crypto annot those bad news

Many central banks are shutting down bitcoin recently but I think this will not made a huge impact. Bitcoin is not the center of Jamaica, it is nit their world. They are a herbal country (just kidding on this if you know what I mean), they will gonna use their resources in their country. I mean, Jamaica is a free country, anything will do.

I didn't see any news about a ban on bitcoin in Jamaica. Or maybe bitcoin is less of a media spotlight in jamaica. I think this is just some kind of behavior of people who want to spread FUD.

Can you please share the official source where Bank Of Jamaica said that? I searched but wasn't able to find any such news.
But if this is true, its nothing surprising to me and I see many more governments joining this list in future. Central banks owned by governments don't have much benefit in adopting the cryptocurrency revolution that's why they are placing a complete ban.

https://bravenewcoin.com/news/the-central-bank-of-jamaica-is-actively-building-cryptocurrency-awareness/

This was the recent news of Bitcoin in Jamaica in August 2017. No need to even click the link as what you can see in its specific article and also no need for explanation on what was the article all about. The article will speak itself for you, OP.  Stupid fear-inducing people these days, I swear. Posting blindly random crappy threads without even proving their point.

If the Bank of Jamaica stops providing services in the crypto currency, it does not mean anything for the whole country. Jamaica is a very small island country and does not have any influence on cryptoapple. In addition, as I understand, the circulation of the crypto currency will continue there. Therefore, there is nothing that deserves our attention.

Banning of bitcoins in other country does not really matter because there are still a lot of people in other countries who are interested on investing in cryptocurrency and as long as there is internet then bitcoins will continue to rise since the demand in the market is keep on increasing.

Exactly, seems like a fake news or just wanted to create FUD among people to lower the price nothing else. Tried to dig inside the news but still no sources on interest are confirming this news, which just indicates it as another rumor. Bitcoin is already struggling to make a upward move and such news can only degrade its status in local exchanges. Also, people are now more smart and they try to investigate rather than blind following which saves them from such fake news.

Perhaps you can still use your saved BTC on online store that accepts Bitcoin.

that's quite not surprising to me, since they're lack of general information about how bitcoin works. or they do know but meh whatever.

I think that one of the reasons for this ban was the increased use of bitcoins in the slave trade, which occurs in the territory of Jamaica. Slave traders increasingly use bitcoins and other crypto-currencies, and deals are concluded in darknet. At a conference in New Kingston to combat money laundering and the financing of terrorism, the Jamaican police stressed the need to eliminate the financial flows of slavers. I guess they found a way out of the current situation in the prohibition of Bitcoin.

It does not matter if they ban bitcoins or all the cryptocurrency because there are still big countries like russia, japan, korea who is allowing bitcoins on their area so people can still invest and bitcoins will grow even more and there's nothing to worry about the market.

Banned like "completely banned"? I really cannot believe that. Probably a totally non-legit fud, taken out of the context. Any Jamaicans to confirm?

a complete ban is not possible but they can have rights to close all local exchanges in their country. But who knows this is real or fake news there is no any official news from Jamaica government. Suppose if they announced means that news clip must be available on youtube. I think this is a fake news let's wait until any Jamaicans to confirm.

I feel not worried, because I know Bitcoin is still the most trusted investment. And it is the most valuable coin. So if there are some countries ban the Bitcoin, they lost the most important that can be earn even in a simple person.

The countries banning bitcoin obviously don't have much knowledge that is unbiased and fair. The officials may also do this because they understand it is coming to disrupt the status quo of what they are benefiting from.

Restriction ,regulation and banning of bitcoin may differ from different countries, territories or region. Some government will interfere the transaction that may passing thru their territories and some want to implement tax regulation or other might fear that it could be exploited for terror financing and some form of money laundering and for gambling purposes. Overall if bitcoin utilised properly and legally then there is no reason to ban it in other countries.

Another ban that I have not heard of. But it seems that bitkoinu to Jamaica do not care. In Jamaica, there are only 2.8 million people, so in the bitcoin, this prohibition should not be reflected in any way.

Its all done by central banks because their huge revenue going because of Remittance industry. Now they want to stop this even peopele are going for decentrelised lending platform this peopel cant bare that also . Central banks still fighting against bitcoin . My answer "I dont care"

Story for the gods,  all the central bank can do in the country is to hold any transaction having a description of bitcoin or crypto currency in it.  Bitcoin is anonymous and cannot be banned by a government or any Central Bank,  bitcoin don't care about what anyone says or even think.  They are only trying to create FUD in other to cause panic sell which will enable them buy as many coin as possible.

I think the ban is very strange .. maybe the government in jamaica do not know if bitcoin every year pay taxes to the country and in my opinion that is a good thing for jamaica country.

I don't think this is a big problem. i think if china or USA prohibiting bitcoin circulation that make big problem. actually, bitcoin is not a risk if we can predict bitcoin prices, like trading normally.

What you say is true, if China or the United States forbid it will certainly be so all the prices in the market are definitely down. And reduces investor.

Well a lot of banks does not accept bitcoin but i think that it would not stop its people from using bitcoin. Anyways, bitcoin will not die if Bank of Jamaica really do ban bitcoin from their country.

It's very sad to hear this type of news....but this is the truth. Some county will accept it like Japan,South Korea and other will banned it like Pakistan Jamaica....But eventually the Bitcoin will be widely accepted as the day passes and more and more public get attached to it's distruptive technology....So it's not a worry if some small county banned it...they will regret at some point

Central banks of some countries have recently closed Bitcoin. Now the news is banned by Jamaica's Kendriya Bank and it has been banned. But I think it will not create such a big impact. This is not a center in Jamaica, but it is nit in their world.
Besides Jamaica is a small island. I mean, Jamaica is a free country, they can do everything they want. Nevertheless, regret is to show that the use of a country will be reduced. Which will affect the Bitcoin community.

I think it is not a new thing that bank doesn't allowed cryptocurrency.
crypto can disrupt existing bank system in every countries. only a few bank accept crypto.

why did jamaica banned bitcoin , they must sell weeds for bitcoin and sell music for bitcoins and for crypto currency too :)

I don't why there are countries that are banning bitcoin because it doesn't make sense for a country to ban bitcoin since bitcoin is just here for become an option to be a payment method and if the governments are afraid of being into trouble because of anonymity of bitcoin then they can do regulation and not ban it because it is nonsense.

Even though Jamaica has announced that it prohibits citizens from holding bitcoin, I think no one will pay attention to this news. Jamaica’s influence on Bitcoin is almost zero and nobody cares. The most influential countries for Bitcoin are China, Japan, South Korea, the United States, and Germany. Influence represents the right to speak. As long as these countries are friendly to Bitcoin, Bitcoin will continue to develop.

each country has its own rules and can be bitcoin is considered a threat. such as bitcoin as a case of money laundering and drug transactions. this makes bad bitcoin so bad

This is a bad news for everyone. It will affect the psychology of investors. The bitcoin market will shrink. Bitcoin investors in jamaica will go bankrupt. I think the jamaican government was wrong when it banned bitcoin. It can affect the jamaican economy, especially the national currency system.

I think if more and more country are banning bitcoin then it would not be good for the price of bitcoin, because banning bitcoin in a specific counrty is a big loss of bitcoin investors and the reason why bitcoin price is rising. We hope that other country will have other ways to make bitcoin safe and secured that can't be also use to illegal activities so that it would be tolerated and accepted to most of the country.

Every country have their own reasons for regulating activities that for any reason they consider a threat their national economy. this is a blow to the Bitcoin community as Jamaica may have  had good potential investors, i however dont think the banning will affect The BTC value if the country's economic strength is anything to go by

Maybe fake news, but who cares it JAMAICA, this will not be a problem. And in the long run, it can show that although Bitcoin is banned by some central banks. but this will not close access for you to keep using Bitcoin. and for that there is no need to worry about Bitcoin being banned which is almost very risky in some World Bank. a bit of a concern though I'm sure Bitcoin will never die.

If it is real than it is very bad, one more country trying to stop digital development of the world.

If it is true then it will not affect bitcoin too much. Jamaica is a small country. there are not too many people who enjoy the electronic industry, the price of Bitcoin does not affect too heavy. So we do not have to worry too much about this fact.

Yeah, This banning is not new and it already in a lot of banks all over the globe but still, bitcoin is unstoppable and will continue to grow. There is only one thing about Bitcoin or other forms of crypto currencies why majority of the banks in the world would not accept it because of its volatile nature, It can easily go sky high and it can easily go down in a matter of minutes. Banks are afraid to lose a lot of profit if they will accept this kind of currency and that is why they are against crypto currencies. Even Bitcoin has this kind of flaws it is still one of the best technologies ever created for the sake of our monetary and payment system.  8)

Thats very surprising to me. I always find it strange when countries that could do with a capital infused in to their system straight up reject cryptocurrency. I can only imagine it is pressure from central banks or plain ignorance. One of the two

Impossible to kill BTC and regulate it ;) You right, who cares about Jamaica :D

Jamaicais not a big player in the cryptocurrency I believe it will not have an impact at all, the industry will go on as it is , but I'm sure many of our Jamaican brother will find a way to still buy and trade and get involve in the cryptocurrency this technology will still go on.

Change is an important thing, but they are difficult to bring to life. Any changes encounter resistance, which is proportional to their strength. Bitcoin forever intends to change the monetary system. And it is natural that there are people who are going to resist this, believing that states should manage the economy, and the new monetary system is meaningless and harmful.

Dorlan Francis, an independent financial consultant and author of the book Economic and Financial Crisis of 2007, recently wrote an article in which he urged to limit Bitcoin and other crypto-currencies working in a similar way. He also criticized the Bank of Jamaica for wanting to start regulating Bitcoin's local exchanges.

why do they do this?
whereas bitcoin can help a lot of human well-being. and if bitcoin were really banned all over the world what would happen to bitcoin.

Well actually I've got some news and to be honest it's almost a year , or should i say an old news.
And I think it changing the perspective as of now , but as you can see on the news it said that they just spreading the awareness.
Here is the link you can check it though , https://bravenewcoin.com/news/ethereum-scaling-solution-plasma-could-facilitate-billions-of-transactions-per-second/ .

Any negative news about bitcoin upsets me. Especially when countries for some reason prohibit it on their territory.

I hope that the government will reconsider its decision and accept cryptocurrency. I don't see any reason to forbid it.

What do you mean with banned in Jamaica? Does Jamaica not allow the possession of bitcoin or the usage of bitcoin or both or does the Bank Of Jamaica prohibit for other Jamaican banks the usage of it?

Whatever it is, it does not play much a role, because they have no access to the computers of the people at home and can not prevent them from using it. :D

Unfortunately, the ban each country has a negative impact on bitcoin. But I hope that the countries that banned bitcoin will be very, very few.

this is a warning for us all. not all central bank will support bitcoin but this does not mean that we or i will stop investing on bitcoin. i do not know any other countries banning bitcoin.

Exactly. And this comes as the same sort of news is coming from Iran. These are all non-news and to repeat them again and again is just a silly way of spreading an immotivated FUD.

What the,this is too much how would we cashout our cryptocurrency assets now? i could have leave this place if i have the chance.If it was declared illegal those bag holders will be criminal by the constitutional law? i dont know how the heck that happened,but this is a very bad news for all the people in jamaica.

Many countries in the African continent are still unaware of the bitcoin industry and a minority of people are invested in this field since a lot of those countries are living in wars and having a lot of troubles such as famine and diseases  .. Some of those countries lack the basics such as electricity , computers and internet access .. In addition electricity is very cheap in such countries and the governments don't know about cryptos yet in order to make regulations for them , so going there and launching a mining farm in such "crypto virgin" lands will be a good opportunity for whoever has the budget to do so .

Jamaica is a developing country in Central America. Perhaps, the government is concerned about issues related to tax evasion, corruption of some national leaders. In fact, if the government finalized the legal framework and accepted Bitcoin, it would probably be better for the people. As far as I know, the unemployment rate in this country is also relatively high, emerging issues of social negativity. Bitcoin collection is a positive way to reduce unemployment for employees. But the government manages the country. They have the right.

Dear, you have a mistake then. Jamaica is a country located in Central America, not Africa, but in the Caribbean. But I also agree with you that the administration of the Jamaican government to Bitcoin is extremely difficult. Bitcoin can be a viable means for crime in this country. Especially when Bitcoin is not really popular here. This is a bad news for people in Jamaica. Bitcoin can help a lot of people avoid unemployment.

It is as countries who banned it means their citizens get out of scope and the community become little lesser. If such things continue it means the community instead of widening will become so smaller that btc will crash and value may not rise then in such cases.

Unfortunately that is true which is already happen in this year two thousand eighteen.
Through some personal conflicts and interest the country called jamaica is already end to its decision to disclosed the operation of bitcoin permanently.

Bitcoin isn't banned in Jamaica by any means and it wouoldn't make any sense to ban bitcoin because of the size of the country and that very little people here know about the currency.


Jamaican is actually an english speaking Caribbean country, a great majority of the country has access to electricity, computers and internet access. Also, electricity in Jamaica is ridiculously expensive.

This is sad news, as any ban bitcoin slightly hinders its development.

Its sad that some countries continue to ban BTC even after it has made so much progress in the recent past. The efforts made in development go to waste when such things happen, which is very unfortunate.its a blow for the the crypto community for such thing to happen as we continue to make steps towards the crypto era

I was very upset, any negative news about bitcoin, especially when a country decides to ban the cryptocurrency in its teriitory. I do not understand why this should be done, it only hinders the development of the country.

More and more countries are banning Bitcoin then this will adversely affect the future of Bitcoin, hopefully this does not affect other countries. And bitcoin continues to grow even though many countries forbid. Bitcoin is a very modern payment technology, but why are they banning it ?! I am sure, the reason they forbid Bitcoin is that they are afraid of being rivaled, and the currency in that country does not sell because all are moving to Bitcoin.

Very sad news because Jamaica is big part of bitcoin contribution countries. Due to bann bitcoin it brings a huge change in total trading systems.

But this will not stop bitcoin, it will continue to develop despite the prohibitions, as this technology is very necessary for us, for our own development.

In the grand scheme of things, Jamaica has not risen to a level of influence in the crypto space that should get us concerned about this I think.

Bitcoin can go up without Jamaica,  everyday hundreds of noobs are joining the crypto bandwagon.  Some of them are investors of stocks and forex.

Yes they are akways saying bad things against Bitcoin and crypto. Sometimes it's also not a ban but a warning to the general populace. They do so just to warn them and tell them to be careful of digital/online/cryptocurrencies, but the media misinterpret and spread the FUD around. But in anyways they cannot kill Bitcoin and crypto

I dont think having Jamaica banning bitcoin will affect the overall moral of the market considering how irrelevant Jamaica is in the world economy let a lone the crypto economy.  Furthermore, having the Bank of Jamaica state that theyr avoiding crypto doesnt mean that the entire country is banning it.

I dont think that banning in jamaica will affect the other counties. Maybe thier are ristrictions why thier government baneed for many reasons. Please respect the government. Maybe some other days if the givernment sees nithing weing with bitcoin, maybe it will be back soon.

Yes, that is true mate. Banning is the most common issue they wanted to spread out but bitcoin users and investors are already aware on this. Considering FUD's or fake news is just a waste of time. I always believe that bitcoin price never get affected of the banning since it survived for more than six years now.

I am not easy to believe and trust the news related to banning bitcoin in various countries, because that often happens the news is just a FUD. even if the news related to jamaika that banning bitcoin is true, I do not think it has a significant impact on the crypto market and the community. jamaika is just a developing country that does not even have a track record of the crypto industry, so we need not worry.

There is a reason that government from every country is worried about Bitcoin and other decentralized crypto coins and as we all know that no one can ban Bitcoin/crypto transactions. Even in the worst case scenario, governments can just impose the ban on crypto to fiat and vice versa transactions. Bitcoin is based on a blockchain technology which relies on the principle of decentralization and that takes away power from the centralized authorities and transfers it to the users. Governments are always greedy for control and hence they are trying hard to eliminate the popularity of cryptocurrencies.

This is exactly like the beginning of the Internet, many of which prohibit the use of the Internet, because it is prone to make a crime media, but see what happens the greater the Internet.
The same thing happens to bitcoin and cryptocurancy.ini can show that although bitcoin is banned by some central banks.
but this will not close access for us to keep using bitcoins.
and for that there is no need to worry about banned bitcoins that are almost very risky in some world banks.
a bit of a concern though I'm sure bitcoin will never die.

You are not sure of this news. This is called speculation. The Jamaican government might be saying another thing but it may have been misinterpreted by the reporters. let us wait a bit for the official communique from the government of Jamaica.

Jamaica may banned bitcoin now in order to prevent their people from being scam, but i am sure they will review d ban whenever they see the through and genuine picture of the so call bitcoin

Yes there is no need of the banning of bitcoin without any reason it cause many people to loss their money so the government need to consider that from the banning of bitcoin and to support us.

Jamaica may ban bitcoin to prevent some kinds of illegal activities. on the other hand their government is unable to control it . soon or later I hope they will legal bitcoin,when they will see it dominate the world.

when that all people know about it's necessary . it wilmore than it was development. There will be a date they know, illegal commands will be ignored, i believe it

Bitcoin has been banned in almost all the countries, almost all the countries are against bitcoin , there are about 8 countries who has legalised bitcoin in their nation and has also legalised bitcoin transactions like in Florida, they are accepting bitcoin in payment of taxes by the people , in South Korea they are accepting bitcoin in exchange of selling car as stated by big car selling dealer and the reason behind banning the bitcoin is lack of proper authorised body over bitcoin and therefore these countries do not find bitcoin to be much trust worthy to legalise in their nation.

in jamaika like it is not very influential if bitcoin is banned in its circulation, which greatly triggers bitcoin price movement is a country that has a very good development and has a highly developed technology.

The nation of bitcoin should understudy and desire to know what is going on in the Asian countries and how they stand to benefit from the crypto movement, rather than allowing speculations and hearsay destroy the advantage they could leverage on the bitcoin.

The Jamaica Information Service (JIS) recently reported that the Bank of Jamaica (BOJ) is “building cryptocurrency awareness.” The statement was provided on Wednesday, by the Bank of Jamaica (BOJ) Deputy Governor Livingstone Morrison, at the central bank’s quarterly media briefing.

Morrison says the central bank must create opportunities for the exploitation of certain technologies, including cryptocurrency, while pointing out that such technologies should not pose undue risk to the local financial system.

The Bank has subsequently established an internal group of persons who are working to build awareness of these kinds of technological happenings across the world. The group are also guiding regional efforts.

Even if th currency is banned there it’s not going to cause a major issue at all because Jamaica is not a major player in the crypto world, it would have been a problem if Japan or Germany would have announced a ban.

several times bad news that tries to destroy bitcoin prices because I think bitcoin is still easy to attack some bad news like that and I hope for new players do not easily fooled.

You can’t ban bitcoin from a country!
You just can force people to keep btc in the wallet and wait for better days but that’s all “they” can do!
Don’t fear governments they’ll soon crumble under their own weight  8)

I just can't understand why poor countries are trying to block bitcoin, if they can make money on it)

Tony Morrison, director of communications at the Bank of Jamaica, stated in a press release: “The Bank of Jamaica is aware of reports of investments in virtual currencies and the use of these types of instruments for the settlement of economic transactions. In light of these reports, the Bank is advising the public to exercise caution in the use of virtual currencies (cryptocurrencies) given the associated risks and the absence of appropriate governance and consumer protection arrangements.”

Morrison reminds the public that Bitcoin or any other type of cryptocurrency is not legal tender in Jamaica.

Morrison explains, “The Bank is committed to the process of facilitating the enhanced use of technology in the provision of financial services, while preserving financial and payment system stability. In this regard, although virtual currencies with blockchain as the underlying technology may have benefits, such as the potential to promote financial inclusion, the following risks need to be taken into consideration:

1.Virtual currencies are not legal tender in Jamaica.

2. Bank of Jamaica neither issues nor backs virtual currencies.

3.Virtual currencies are not foreign currencies as there is no monetary authority that issues or backs them.

4. Bank of Jamaica does not regulate or supervise virtual currencies.

5. Bank of Jamaica has not authorised any entity to operate a virtual currency platform.

6.Transactions in virtual currencies, such as Bitcoin, are susceptible to abuse by criminals and may facilitate money laundering and the financing of terrorism.

Morrison continues, “In light of the above, Bank of Jamaica, while committed to supporting financial innovation, will continue to closely monitor the evolution and potential implications of virtual currencies. Regulatory strategies will be pursued where appropriate, and the requisite advisories will be issued if deemed necessary. Please be advised that there are no legislation arrangements under the purview of Bank of Jamaica that provide protection for loss arising from the use of virtual currencies.”

The country wants to remind their country men to be cautious on digital currencies, there are no banks that is trading digital to cryptocurrency but on the news they dont ban bitcoin. on what the statement of the director of Jamica Bank they don't closed the door on digital currency they are studying on it, every country knows the digital currency is the future of payment system

soure http://www.jamaicaobserver.com/business-observer/boj-advises-public-against-bitcoin-and-cryptocurrencies-money-backed-by-the-internet-not-the-government_124590?profile=1056

I think jamaica can also be banned because many countries banned it, but then it is starting to support all countries in a state of understanding that it is indeed a huge and unavoidable situation.

why bitcoin getting banned in jamaica?

These things are very normal. Each country has its own regulations. However, BTC still exists and develops.

Most governments all over the world are completely against bitcoin from the beginning, they consider bitcoin as a threat to traditional financial system, so this decision is not a surprise.

Well,  every country has it's own law that every man should follow,  that is their nation and their law.  But even if other countries officially banned from using bitcoin i believe that in the future they will surely used it too upon learning more about crypto.

Certainly we must obey the rules of the government, whether the ban or obligation as citizens ngara. it is unfortunate if JAMAICA countries prohibit Bitcoin, other countries such as the Philippines have legalized Bitcoin, of course JAMAICA will be left behind from the side of Economics, Technology and even from the political side will surely lag.
the JAMAICA government must be able to accept Bitcoin to avoid backwardness from other countries.

Correct, We need to respect their decision because every nation are different and they have a different point of view on different aspects or things. We can't expect every countriy in this world to accept Bitcoin or other forms of crypto currencies.  :)

I think you're wrong on what you are saying about Bitcoin in the Philippines, The usage of Bitcoin in the Philippines is not legalized yet but it is not illegal to use it or have it. There are difference between "Legal" and "Not Illegal" If Bitcoin is Legalized in the Philippines there should be rules and regulations passed by the government on how to use this crypto currency but there isn't, Am I right? This means The usage of Bitcoin in the Philippines is not legalized yet but citizens of this country are allowed to use Bitcoin. For example Japan, they already legalized the usage of Bitcoin because they already have rules and regulations on how to use and possess Bitcoin and it is approved by their law makers. It looks the same but they are totally different.  :D

I don't think that Jamaica's ban on cryptocurrencies will have a big impact on Bitcoin. The country itself is not so important to cryptocurrencies, so its attitude will not have much impact on cryptocurrencies.

Just shows their central bank sees bitcoin as a threat.

Unfortunately, the ban each country has a negative impact on bitcoin. But I hope that the countries that banned bitcoin will be very, very few.

May be due to black money issues of criminals. But we have to respect their decision

It will be quite unfortunate if it is really true that they have such a decision. I don't understand why some banks or government have a bad notion about bitcoin. I believe is all because of the fake news and impression people are creating about the coin. Bitcoin will continue to ruin.

Unfortunate for jamaicans, but looking at the big picture it doesn't really matter what Jamaica does or doesn't do. They are small fish.