Bitcoin Forum

I'm not sure 100% on the translation but does this mean that all fiat currencies have been banned in Ukraine?


http://www.coindesk.com/bitcoin-foundation-ukraine-central-bank-warning-isnt-ban/

Confusing. I'm guessing that they mean you are not allowed to buy bitcoin with fiat?

No, you cannot send fiat currency over the Bitcoin blockchain.

I think if you will find out what Hryvnia is you will find out what they talk about.

Could be misinterpreted. Probably what they mean is totally different. If they don't accept fiat currency in Hryvnia doesn't mean that they won't accept payment in other fiat currency to convert to btc. Euro should be the choice.

I'm pretty sure the euro is not accepted on the Bitcoin blockchain either.

20% of inflation ... run to bitcoin, ukranian people !  ::)

You would think they have bigger fish to fry over there than bitcoin vs fiat issues. Like protecting their consumers from the Russians.

war is not made by people ... but by army (or terrorist ...).

no, bitcoin only  ;)

1 Ukrainian Hryvnia equals 0.063 US Dollar (http://lmgtfy.com/?q=Hryvnia)

Actually, the hryvnia is the 3rd worst performing currency of 2014...
With the #1 spot held by Bitcoin... which is down from $800 to $300 or > 60%.

This forum should pull it's head out of the sand... and be asking HARD QUESTIONS about Bitcoin...
And why it's performing like the currency of a bankrupt country invaded by Russia.

Bitcoin has one year were its price declines and people think this shit is dead. If you think cryptocurrency or bitcoin is going to disappear you need to pull your head out of the sand. Such a small timeframe and picture perspective.

What translation? There is nothing in the article you referenced (or in the links referenced by it) that says anything even remotely similar to the above.

or 0.00019744 BTC or 197.393 bits.

Sure and then they went 100% bitcoin and we became millonaries.

Ukrainian's currency is holding its value better than the Russian ruble, and that's something Ukrainians can be proud of!

http://finance.yahoo.com/echarts?s=UAHEUR=X&t=5d&l=on&z=m&q=l&c= (http://finance.yahoo.com/echarts?s=UAHEUR=X&t=5d&l=on&z=m&q=l&c=)

BTC is another matter, and I guess the average Ukrainian has more urgent worries than to deal with it. Sadly.

Is there not any translaters that can translate this?

The text of the document is confusing. It sounds as a standard warning, but it also mentions that any other money and "money surrogates", including bitcoin, are forbidden in Ukraine. However, there is no mentioning of any penalties for it's usage, just words that the central bank takes no responsibility for any bitcoin-caused losses.

even still there are a lot of risks to holding either the Russian Rubble or the Ukrain currency as they are both doing very poorly as of recently, and signs point to likely further declines. Both declines have primarily happened in the past few months, with declines accelerating in recent weeks.

This.

Wow, that went over almost everyone's head.

You can't send fiat over the Bitcoin network people! And you can't send bitcoin over the bank fiat network (try it, I'm sure your bank's manager will be confused when you hold up your private key and ask to send bitcoins to another bank over ACH or SEPA).

The original warning was from the Ukraine Central Bank saying they would not allow Bitcoin to be sent over their banking networks (I just changed bitcoin to fiat and vice versa). And yet this was translated by all articles to "Ukraine bans Bitcoin?". Even Ecuador where everyone has been convinced that Bitcoin is banned, the actual law states that it is illegal to send cryptocurrency over their national fiat payment network (not only is it illegal, it is physically impossible).

A little lesson: Banks banning bitcoins from their banks does not equal Bitcoins are illegal. McDonalds banning Burger King hamburgers from their restaurants does not equal Burger King hamburgers are illegal.

The Central Bank made the "announcement" on Facebook for God's sake...if Facebook posts can make things illegal, we will all be forced to buy kittens and puppies.

Where you got this datas from? I assume you use only official government fiat currencies. I cant believe there was none of such currencies that lost more then 60% of its value.

There are, two of them - that's why he said that BTC is the 3rd worst. The Russian ruble has bounced off the bottom, so it is now "only" 78.5% down (compared to the US dollar) for the past 12 months. The Ukrainian currency is down 94.9%. The closest crappy currency is the Argentinian peso, down "only" 33.2% for the last 12 months.

Well the difference between bitcoin and the other two currencies is that bitcoin is coming off a very strong previous year (going from ~$10 to ~$1,000 as of the end of 2013). On the other hand Both Russia's and Ukraine's currency was more or less stable (or declining) in 2013 and previous years.

What is fiat?  :-X

That's perfect ! In this way maybe Ukrain could be accept Bitcoin for payment and bitcoin price will raise over to 5.000$ ! Goood to hear it !

https://www.youtube.com/watch?v=tGk5ioEXlIM

Funny how in Russia, the ruble has dropped massively even though BTC is officially outlawed.

Folks exchange the ruble for USD or IKEA furniture, creating price bubbles. It is like it is, protecting something that has no value from dropping, is very difficult. Governments would be well advised to embrace crypto, as a way out of the fiat nightmare!!!  ;D

It is time to give people a choice what currency or money to transact in, instead of creating pieces of paper like little children do, when they play grocery store.

ukrainians are moving into bitcoin, as are russians .. means price is headed for a major spike

I thought even bitcoins are banned in Ukraine:
http://www.reddit.com/r/Bitcoin/comments/2luxm5/ukraine_bans_bitcoin/

So it seems those currencies had good year. Next year will have for sure more of such.

Bitcoins are banned from the fiat payment system.

Such games they play. I also heard that e-mail is banned from postal delivery.

What ???

I know, crazy right? I pushed a dollar into my USB slot and opened my Bitcoin wallet and everything.

Instructions unclear, got $100 stuck in USB slot.