Bitcoin Forum

BOLIVIA


the central bank of bolivia,el banco central de bolivia said in a statement:


"it is illegal to use any currency that is not issued and controlled by a goverment or an authorized entity."

Wasn't this very very old news though?

https://www.coindesk.com/bolivias-central-bank-bans-bitcoin-digital-currencies/

Yes it is a very old news and if I remember it correct it was done last 2014. I dont know why the author posted this topic possibly he have its own reasons why. Anyway to refresh us with this topic last May 2014, the declaration was made by the government including the central bank of bolivia to ban bitcoin and cryptocurrency since it is not controlled by the government. The problem is the other countries on South America such a Brazil and Argentina were permissive to cryptocurrency. If we look at it it was only Bolivia among all the countries who banned bitcoin and the rest were permissive.

I guess we should already lock this topic since it is very old.

I fully respect the decision of the government of Bolivia, and I also think that the government was thinking about the tax and everything that works here in the cryptocurrency, which means that bitcoin and other cryptos are freely roaming around without processing with the government, in simple words the government is not benefiting with the cryptocurrency but only the citizens of Bolivia are benefiting which may be the cause of banning bitcoin there, correct me if I'm wrong though.

The central bank of Bolivia said in a statement
"It is illegal to use any currency that is not issued and controlled by the government or authorized entities."
Which automatically prohibits the use of Bitcoin and other cryptocurrencies in Bolivia, as they are not official or belong to any particular government of any country.

According to the Legality of bitcoin by country or territory (https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory), by Wikipedia, Crypto is really illegal in Bolivia (https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Bolivia).
But I'm sure the list of countries where crypto is banned will significantly decrease next few years.

I dont think that this was a wise decision from their side. In my opinion, there is nothing illegal in using such currency. However, it is obvious that government can't approve such use due to their own reasons

We can do nothing but respect the decision of their government. However why they ban it without any details, how about the user of cryptocurrency. They lonely because of it. I think they didn't see the good value of Bitcoin to the people. How sad  :(

Thats no new topic...

such a bad news to open my day?

The statement of a country like that is usually a country that is afraid of the presence of bitcoin in its country, and I think someday bolivia will realize and will legalize bitcoin.

Is there any documents, news that can support this bold claims? I haven't read any news yet about this.

This is old news and also i think bolivia is not one of the biggest market in cryptocurrency world.
So it will not affect bitcoin price.
If china, korean, japan, russian has a bad news banning bitcoin, you know the market will crash like what happened before.

You have to think what Bitcoin being banned means: It means that a government is impotent against it, it cannot control it, and therefore has to go to the end and simply straight ban it completely.

THIS proves that Bitcoin has value, because it is an independent force that escapes the control of anything that isn't it's own hard coded rules and THIS is why it has value.

Now when it comes to this particular case, related to price, it has no impact on it, Bolivia is just too poor to matter market wise, just like Bitcoin being banned in Venezuela doesn't matter, these things cause no odd fluctuations in the price. It's just to be expected that these countries will ban them. A way to measure how fucked a country is is to watch how close are they to ban Bitcoin.

Perhaps they are planning to copy their neighbour and create a state backed crypto currency. Venezuela has oil so they have a good marketing angle to encourage investors. However bolivia doesn't have such a major resource to sell so perhaps they're just worried that their own currency will be abandoned.

Is this true? do you have links to reliable news, so we can read?

if this is really very unfortunate, bad news continues to hit bitcoin, this greatly affects the market price of bitcoin. what I fear is that this will be followed by other countries.

Lol spreading the old news trying to trick people and panic to sell there hodlings because of that okd news some weak hands already nervous. Maybe you just want to buy bitcoin in a low price LOL

When I see news like this I start usually thinking about that contry which banned crypto... It's always a small one. Moreover, I think small countries gotta allow crypto to escalate their economics...

its an old news but no one really care about centralized banks and goverement in algeria its banned and you can get in jail but we keep trading they cant stop us

A news is old because you have read it before but not to someone who just reading it. In between 2014 when the news broke and now, a lot of people have joined the crypto industry and where not opportune to have read the news at the time. I joined in 2016 and this would be the first time I will be reading on the forum concerning the stand of Bolivia against bitcoin and it has even been inexistence since 4 years ago.

I would really want to know how effective the ban has been and if the people engaged in bitcoin then or those who joined in that part of the world have been stopped totally because it seems most the countries that don't have the technical capacity to implement their laws against bitcoin are only doing it to make a statement and not really backed by any action.

I think the news is pretty old. Bolivia Central Bank has banned bitcoin back in 2014. But as of current situation of bitcoin I hope they will rethink their opinion and will take some positive initiative.  :o

As I can remember, that is a very old news.  There are many countries where cryptocurrency is banned from using.  Bolivia is one of them.

It is true and most countries have declared like a bolivia, and they think all should be with the government's permission, but I do not think they can stop the development of bitcoin.

I heard this news before. Bolivia banned bitcoin because they think bitcoin is a illegal currency because it is not controlled by government or central bank. It’s not a good news for crypto market.

I never heard of that country. this not affect the situation because Bolivia is only one of the small country in the world not having so many investor with them, they will be forgotten anyway.

this news has not been spread long, maybe you just know too late. any country that forbids bitcoin has the right of the bag for the reason that they have

This news was about month ago i think.
And i read a news about it that the bolivia government doubts bitcoin and think bitcoin as an illegal currency so they decided to ban it.
This may affect the bitcoin price. Hmmmmm

This is the first time I have ever heard of this news but as I read down, I learned that this news is very old. Central banks are always against cryptocurrencies since they are mainly connected to the government. Thanks for sharing this news by the way and I think this might not affect bitcoin at all. It is because all I am caring about is the price of bitcoin and the time that it will reach 15000 USD.  ::)

I know Bolivia but I never thought that they are a player in the cryptocurrency, but anyway it will not hard the industry or will it have an effect on the price of Bitcoin, compare to China and India where their people and some companies are very much involved in the cryptocurrency.

I guess the central bank of bolivia is not comfortable to works with bitcoin.The real treat is losing power to print money.Specially in a country where the vast majority are very poor.

oh no... game over then

this is going to happen more and more

I think they use for illegal activities.I hope Bolivia will revert its decision in the future as bitcoin continues to prosper in the rest of the world."

well, its an old news but really sad for Bolivian bitcoin lovers.

we can not blame if it's going to ban it overseas because everyone does not like bitcoin but we do not want to be discouraged because it's important we know it's true and it helps us to let them know what the importance here is that we earn and here we are rich because bitcoin is not a scam.

And its nonsense too,since bolivia is small and troubled country..
Even if they banned crypto it will not effect the market so nothing to be worry

And regarding to being post again since this was happend four years ago,maybe OP had something to explain here..or better lock this thread so posting will stop

Since this news is too old, I'm more interested in the question whether the citizens of Bolivia, as well as other countries where crypto-alaith is banned, are being used bypassing the government's prohibition. On this forum, I only once met mention that in his country only for talking about the crypto currency can be put in jail. However, the country was not indicated and how this prohibition is dispensed with and whether the use of crypto-currency is circumvented by a massive ban on the government. This will be a good experience for decentralized Crypto currency and for us. Can anybody share this information?

The official Bitcoin ban policy was launched on May 6, 2014. But there is no clear reason why not allow the use of Bitcoin.

This is again one of the same fake news repeated again and again. There is a big difference from considering non legal a currency and to ban it. Of course any country would consider legal only the currency it is issuing itself. But this does not mean you are not allowed to own other currencies.

This is a 4 years old news bro! Where were you these day? However, bitcoin is being legalised in many countries and the number is increasing day by day. So, I think one day will come that every countries will adopt bitcoin to deal with it.

hm, these weird countries that don't really seem to be built on democratic principles usually either try to exploit crypto for their own benefit (Venezuela) or try to ban it completely (China)

I think that the prohibition of bitcoin and Crypto as a whole in a country like Bolivia should not have a big impact on the market.

it's for sure but people in Bolivia can't earn money with bitcoin and it's a poor country as we all know. very bad that the local government cuts the opportunities for the citizens to earn some money.

Its unfortunate that some countries see no reason  in letting Bitcoin transact, and still consider  it a threat to their national needs. Bitcoin is the future currency and needs more help in realizing its potential, we need all the help we can, and countries banning BTC is not one of them. its such a sad thing for the industry

The central bank of Bolivia, El Banco Central de Bolivia said in a statement:

“It is illegal to use any currency that is not issued and controlled by a government or an authorized entity.”
The details of the ban are fairly draconian: They prohibit the use or ownership of third-party currencies, and prohibit the denomination of prices in any currency except the official currency of Bolivia, the Boliviano. That includes sending money out of the country via Bitcoin, or making most international purchases, effectively isolating the Bolivian economy from the rest of the world.

Not a big surprise. Bolivia is devastated by its socialist government. No wonder they are afraid of crypto which will expose all their drawbacks.

Read the comments  before your. It's an old news from a very long time now. The op is not-relevant to the situation

The decision to fully ban bitcoin puts Bolivia in unique standing in the international community, as other nations previously believed to be embracing restrictive policies including China, Thailand and Russia have since backed away from implementing similar measures.

Another FUD thread, isn't it?
No one cares about bolivia, and it does not change anything.

What, if we follow the statement, USD or any other currency would be ilegal too... came on.

Just the government of Bolivia does not understand that by doing so, they further alienate its place among the leading countries. The economy, imports and exports, trade and other issues will not be able to develop without digital technologies at an equal speed.

this is an old news already and i already read the article but i always wonder why the governments ban bitcoin? especially in some countries although bitcoin is used in crimes such as money laundering and stuff that involves with bitcoin. it became a tool for crimes but computer and internet is also used in crime such as child porn, buying and selling illegal drugs and firearms scamming and hacking why don't they ban computer instead since all online illegal activities is caused by computer.

Literally nobody cares about tiny countries that have no effect on the world, they make these statements as if they will have any effect on the bitcoin industry. Bolivia.... Really? Tell me when the USA bans it. Notice how it's always the most corrupt countries that look to ban it, their corruption is about to be undermined.

Each country that bans bitcoin has big influence to the market but this seem to be not effective and was ignored by many.

If you're going to read many posts on the first page this news isn't new.

This was even in wikipedia and it already acknowledged that crypto's there are ban.

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

ctrl + f + bol

This is not new and not surprising news. Bolivia has recently banned bitcoin, then again allowed its use. The country is not constant in its decisions.

many issues and some news are trying to make the bitcoin price collapse by making the issue of bitcoin circulation in some countries that make many people fear.

we can not blame the places that ban bitcoin because many do not like it but so thank you bitcoin because we are all expecting all bitcoin because we all know that it knows it is true that anybody is trying to keep us going it must be because it is the poverty problem.

Bolivia has banned Bitcoin long age in 2014. This is such a old incident that it has no effect on bitcoin right now. We can just expect that Bolivia will remove this ban soon.

thanks for the news, did not even know that already in Bolivia ban!

Yes. But it is a lot of old news. Many years ago, approximately 4 years ago. Then the Bolivia government thought many things. Tax are not found, the government can not control itself of bitcoin transaction . May be thinking that these issues may have banned.

Bolivia became the fourth country to completely prohibit bitcoin and crypto-currency, where you can go to jail.
In addition, such countries are Bangladesh, Nepal and Algeria.

as you say, crypto bans by local authorities may be caused by taxation they do not get from every transaction made using crypto, so they prohibit crypto used in their country, but I think if the government prohibits the use of crypto in their country, there are many people who are quite upset over the policies made by the government

This is very old news and it was published in 2014. Bolivia banned BTC their central bank El Banco Central De Bolivia of the South American Nation they think it’s an illegal issue because govt can’t control this issues and they also banned other some of crypto currency. But I don’t think it’s right decision because it will lead future currency also so it may help to their economy.

I think it does not matter the though old news, but for me, this is new news. this is a benefit of forum, sharing all information and knowledge.

is there any more specific reason why bolivia bans cryptocurrency?

Who cares what happens in Bolivia..lol
We should start worrying if this happens in one of the big EU/USA/Asian countries.
This is not going to happen, because smart countries understand blockchain (and crypto) are disruptive technologies that will replace current systems. They might not like it, but they also understand that you cannot prevent innovation in modern society.

this is old news in 2014, what is the purpose of the author to discuss the old news on this thread and the news is not good for the current bitcoin increase, I hope you discuss the news that impact on the increase of bitcoin price

The above article lists the prohibitions of any currency, and does not write "cryptocurancy".
I think this way is aimed at protecting the value of their currency.
And we must appreciate this, because it is a country's political problem.
This is not an obstacle to cryptocurancy, because in some developed countries in the American continent legalize the use of cryptocurancy.

What it has to do here as the subject line states that some country has banned the btc which means people are discussing on the factors, or its impact how it can effect the worldwide, will it have any impact etc. So how does your line fit in ?

Recently, Zimbabwe announces too to ban cryptocurrency trading. I think there economy is at risk with crypto as more people will use this as financial instrument and  their government will be left behind without  gain the form of taxes or whatsoever.

here is the link from last day : http://bitcoinist.com/reserve-bank-zimbabwe-bans-cryptocurrency-trading-financial-institutions-given-60-days-comply/

Since 2014, the Central Bank of Bolivia considers bitcoin and other crypto-currencies as financial pyramids. In fact, this South American country became the first state in the world to completely prohibit the use of any currencies that are not issued and controlled by the state, so that is not fresh news.

Increasingly a country that forbids Bitcoin, will this make the Bitcoin value fall again? hopefully this is not news that can affect people, because this news is long I hope all investors hold their bitcoin until the end of this year, because I want the value of Bitcoin rise high.

Hello everyone, this is very bad news. The fact that crypto-currencies are blocked in different countries makes me very upset.

Wow, another random country banning bitcoin that literally does nothing to anyone. I don't even know why these countries even do something, it's not like they're making a difference anyway, I legitimately think that these nations do it in an attempt to move the markets but then even the investors know that it is nothing.


You can start this if the US bans bitcoin, for now it's not necessary bud.


Not this country, who cares anyway. I doubt 99 percent of people can put Bolivia on a world map.

ok

The news is reliable but it not something new cause it have long ago but the country mention was not the only country which is ignorant about Bitcoin potentials. You read this  reliable LINK (https://news.bitcoin.com/five-countries-where-bitcoin-is-illegal/) for better explanation.

This is a very old news and this is 2018 already why we have to discuss that past.
And BOLIVIA banned bitcoin in 2014 and it has no effect on the current bitcoin price. What is even more frightening if a big country bans bitcoin completely and it could affect the bitcoin’s price then it would be a big news that create panic, like some time ago china banned all the ICOs and it made bitcoin’s price drop drastically for 2-3 months, which was not a very good news.

what are the reasons

Some countries have bitcoin banned due to some reasons. With all due respect to them they just did what they believe is good for the country and there people. We should understand and respect the laws and constitution of other countries like Bolivia.

This is a sad news. However, this will not have much affect on the prices as the place has got very less investors.

Perhaps in the Bolivian there were not so many big ICOs that could affect the bitcoin’s price when it’s blocked by the government. Dissimilar to the complete banning in India and China which greatly affected the bitcoin’s price at that time. ICOs in China and India may be so large that it can affect bitcoin’s price when banned completely by the government.

I think this statement of Bolivia government is misunderstood . The government of Bolivia clearly stating that it is illegal to use any currency that is not issued and controlled by government, it means that people in Bolivia will not use crypto currencies at domestic sites of Bolivia, it doesn’t mean that they could not international exchanges for buying bitcoin , bitcoin is decentralised crypto currency and no country could ban it internationally so owning bitcoin is still legal in Bolivia.

"If a law is unjust, a man is not only right to disobey it, he is obligated to do so."

I hope Bolivia will not regret their decision about this.
they are not aware of what bitcoin and cryptocurrency can give to those people who dont have job but computers and internet.
those who are just at home with kids.
i hope soon they will reverse their decision.

it was not a good decision i think because it is the future currency.

Then let them be. As soon as crypto currency and blockchain technology will rise, they will going to use it again somehow.

The Bolivia government and other Southern America countries i.e Bangladesh, Ecuador, Kyrgyzstan, and Nepal don't like bitcoin from the get go because they see it as a threat but the reason why the Bolivia government put a total banned on Bitcoin was because a certain investment scam occurred where investors were promised 300% profits within 60 days.

This is an old news already. It was already reported way back 2014(Im not sure correct me if I'm right). I remembered when I first heard of it. I think the government was foolish because there reason for banning it because it is uncontrollable. but anyway let's just hope for the best and for consideration.

Doesn't surprises me much. Bolivia is another shitty socialist country, like Venezuela. They have till now avoided a Venezuela-style meltdown thanks to the abundant mineral (especially Silver and Copper) and gas resources.

The only reason why a government would ban any crypto currency is because it doesn't want its citizens to progress in live. Governments can only govern people who needs them and once people start to realize we don't really need governments then the power will shift towards the people. We have moving towards and era where decentralization will liberate us from the shackles of poverty and governments don't want that. Well I say tough luck. All they can do at this time is to embrace crypto currencies because its not going anywhere.

This is old news, but Bolivia at the same time barely has the infrastructure to deal with drug dealers, I doubt they have the infracstructure to keep an eye on "bad BTC holder criminals".

with abundant produce in the country so as not to follow the trend that is popular in the world ,I just know even until now from you sir that the country has a good income

Yes Bolivia has banned the use of Bitcoin long ago. I do not think that it will throw a burden on the price of cryptocurrency. Because Bolivia cryptocurrency is not the largest market in the world. So I think it will be very costly to the price. The government of Bolivia does not benefit much from it, but it is the people of the country. So I think the government is banning it by thinking of its own interests.

is this true? Wow i didnt even know that Bolivia banned crypto currencies. May I know where you get this news from or can you link me the news?

This is old news you don't know.I think it's last year news because something i remember this news check this article: https://chesatochi.com/bolivia-ban-bitcoin/ i hope everything is clear about this matter and never mind if some countries banning Bitcoin or other crypto currencies that means BTC is not damage of those isolated incidents.

Yes, it's really 100% true news I ensure you.Bolivia banned Bitcoin & cryptocurrency.The government announced in 2017 I think this problem is created with central bank.You want to know details in here https://www.coindesk.com/bolivias-central-bank-bans-bitcoin-digital-currencies/

This is true news but I think old news. Because before I read it huge days. Actually this problem Bolivia country government and bank related.check it coindesk more and more information in here.

Most countries prohibit the use of Bitcoin for exchange or direct selling. So it's not too hard to understand when it's banned in Bolivia. It is difficult for the government to control it at the moment, so they choose to ban it. In addition, it involves too many illegal activities and also reduces the influence of the government and the central bank. So they do not allow it to work

Hi there Donotfoolme! It is not new when some of the countries ban bitcoin and other cryptocurrencies. The government always tell that it is illegal because there are numerous cases of fraud or scam that roots from cryptocurrencies. They always tell that they have to do it in order to protect their citizen from financial loss. On the other side, there are countries that want to start their own government controlled island in taihiti which will be a paradise for those who want to live in a technological and environmental friendly area. However, this is still in the process, but I do hope to see its success someday.

I think this should not be considered "News" since it's already old. This is way back 2014. I feel sorry for people in Bolivia though. Such a shame they are can't use Bitcoin.

It's quite alarming to hear this kind of news, because it can probably affect the price and the view of other people. Nevertheless, it's not new to everyone of us, it's not the first time it ever happened. We have to stay hopeful in spite of this issue and learn to respond to it constructively. Keep in mind that it's a normal trend and whenever other countries kick bitcoin away, others also keep it valuably. Bitcoin investors, traders or users come and go but Bitcoin will stay and will survive.

In many countries, bitcoin is blocked because it can harm the country itself and especially harm this country, because the new cryptocurrency is something Grand and new in the world.

I totally agree with your opinion

This is one of the gimmicks of government to kill Bitcoin and we hope to see how this will work out. Government want to control bitcoin but it will not work.

Sad but the authorities want to keep everything under control and cryptocurrencies will be under constant pressure from the government side.

Is this another reason to stop believing in bitcoin or crypto as a whole? LOL, I always laugh at those news, even those are legitimate news, the effect to the bitcoin community is so small that the price wont even dip more than 10%. If the country state is a huge country with a huge crypto investors like US, China or Japan it could have a huge effect in the price. But until not all country ban bitcoin, the bitcoin will still continue and could even be more prosperous. I think their government just want to create their own coin and stopping current crypto transaction is a beneficial step.

This ban started 4 years ago...

I think that statement is only for payment purpose, and if we trade bitcoin, i think its should be fine. Many central bank in the world ban bitcoin if used for payment purpose but they can not ban if bitcoin used for trading

I appreciate the Bolivian government's decision, and I also think that the government is thinking about taxes and everything that works here in cryptocurrency, which means that bitcoins and other cryptoes are free to roam without being processed with the government.

So that's why they ban bitcoin because they want to control bitcoin. We can blame them because that is their decision to protect their currency and their people but I think they need to consider the benefit that people will get in bitcoin.

this is old news in 2014, what is the purpose of the author to discuss the old news on this thread and the news is not good for the current bitcoin increase.

This is very old news, But it is not suitable for Bolivia. Because, the world is moving forward using Bitcoin.

One more government that wants to control everything and everybody in their country. No freedom at all.

Does anyone know any up-to-date news on the situation in Bolivia about a bitcoin? Any changes since 2014?

To me, the most scary thing about this is that some cou tries might just be led on by the actions of the other first world countris. While China and some other of the notable countries have been busy in their efforts on banning and completely trying to shut down cryptocurrency in their borders. This is a big change to what we are used to seeing as the third world countries dont even stand a chance as they are just copying or imitating what their actions are setting

maybe later the Bolivians use the overseas Exchange and melt Bitcoin into its Fiat via Exchange Personal.

And that's in my opinion Bolivia State will lose the fee for its own state exchanges as taxes. That's where Bolivia will review to get rid of Bitcoin.

very unfortunate !

Someone update him or her the status of Bitcoin and altcoin in Bolivia since his or her problem was before, I think most of the country now is opening little by little with Bitcoin and that makes me happy to see some people and more people are coming to invest in our crypto world.

Although in Bolivia Bitcoin is banned, but the public interest there is still very high for playing Bitcoin. they must have a way to keep playing Bitcoin and Getting money from Bitcoin. And we hope, there is no longer a country that prohibits Bitcoin, let Bitcoin quickly grow and its value can be high again, even higher than the end of 2017 yesterday.

I do not really understand the background and the exact reason the bolivia government banned the use of bitcoins. but as a third world country, their decisions and regulations will not have a significant effect on bitcoin markets and communities. the decisions of developed countries are more of a concern, because basically when developed countries start receiving bitcoin, developing countries are slowly starting to believe and follow it.

on this country this country is not economically developed, because it does not want to open its doors to anything else! I was in Bolivia, the country lives with its old foundations and does not try to move forward! I see how the more up-to-date countries are giving more and more importance to the crypto market, and that's enough for me to be sure of bitcoin!

This is a minor speedbump and i dont think it'll have much impact.

Well this is the government decision nothing can do with that lets respect the government decision and besides the government has a true power to ban bitcoin in every country, I think the government don't know how to put regulation on bitcoin and its hard to identify who are the users of it so its hard to implement to put tax on it and the there are many scammers who used bitcoin for their scheme so I think that is the right decision for their country.

Yes, I heard this news last year, The country government and central bank are very scared that they will lose the control and power by allowing Bitcoin and cryptocurrency.
Bolivia services industry is still underdeveloped and Inhabiting one of the poorest countries in South America, the government had to take this step.

Since June 19, 2014, the country located in South America is starting to ban the bitcoin circulating in the country. The central bank of Bolivia says that using an unpublished currency and issued by the state is one of the illegal acts.

This is really old news bro! Where were you these day? However, bitcoin is being legalised in many countries and the number is increasing day by day. So, I think one day will come that every countries will adopt bitcoin to deal with it.

, by 2014, Bolivia's central bank has declared it official to block bitcoin. In Ecuador bitcoin is also considered illegal. Not just bitcoin instead, but also other digital currencies. the government prioritizes transactions with the use of local currency that is the government-regulated dollar.

intersting news

 The problem is the other countries on South America such a Brazil and Argentina were permissive to cryptocurrency

Yes it is the major reason that government cannot control bitcoin that's why the banned it.

If they have ban Bitcoin, then that is something we should respect. Every country has the right to accept, allow and ban. Bolivia maybe worried about the volatility of Bitcoin and they wanted to protect the countrymen from losing their money out of investment. But we'll never know, they may revoke this in the future.

By doing this they just make a big mistake because it would become very useful for them.

Nobody cares that Bitcoin is being banned in some third world countries. Just look at Venezula which has banned Bitcoin. People are still using Bitcoin there because its their only chance to trade and keep their money valuable. Their government is investing huge amounts of money in cryptocurrencies mining and even confiscating mining equipment during custom clearance. This is getting more and more ridiculous.

I believe many countries are resisting bitcoin including Bolivia because they have not done extensive research on Bitcoin. The role of media is also required. More and more media expose bitcoin. then the more positive impact for many people who want to know more about bitcoin.

i haven't heard about this but I can't understand why the country banned it. They will understand that it would be much wiser to accept it than banning. It is my personal opinion but I think the reason is that they are afraid of massive changes

This news is old one.
I know many countries have banned bitcoin, but if all countries make research on bitcoin they will surely get positive aspects of bitcoin as well.

who cared about bolivia man. i don't even know where the country in world map :) just relax and don't think about it.

This is true, this is the basic principle of each country about its mass production. Although the use of Bitcoin is prohibited as a means of payment in BOLIVIA, this isn't necessarily can turn off the interests of its citizens against this digital currency and they can still perform its action by investing in the internet. In the internet era, their investors guaranteed will not find any meaningful constraints to deposit the check or withdraw funds online in global scope.

Sad to hear, I`m interested, why all the countries could not gather together and develop a unite overall worldwide decision!

Bitcoin banned in Bolivia, doesn't mean a thing to the rest of the world. It concerns only the population in this third world country and probably it only affects just a small number of people who are involved in cryptocurrencies and can afford bitcoin. And these people do not give up just because authorities have banned bitcoin.

Sad but the authorities want to keep everything under control and cryptocurrencies will be under constant pressure from the government side.

Like bolevia there are many other countries who thinks the same regarding crypto currencies like Bangladesh, karyzikstan, Nepal and somewhere in India also. These are the countries who consider bitcoin a fraud, a Ponzi scheme, a means by which many illegal activities has been carried out like selling drugs, explosives, money laundering etc and because of this only they have fear that introduction of bitcoin can bring all these activities to their nation also but for their kind attention, I would like to say that all these activities can be controlled of bitcoin will be legalised.

Soon everyone will change their minds and decision. Bitcoin can't be control by any government and that is what designed for.
It is time to have the peoples demand and voice with currency. This is not what they wanted. but soon they will just join.
They want to stop people investing their money in something the government does not have access or even can't monitor them.

They banned it but i think they should judge a little before take this strong step.

They are going to enable it again once all of this is going up. They are obviously doing some FUD to make the prices go down! It is so obvious.

Not a wise decision from their side. And we can do nothing but how to take. Very bad that the local government cuts the opportunities for the citizens

Literally nobody cares about tiny countries that have no effect on the world, they make these statements as if they will have any effect on the bitcoin industry. Because we are all expecting all bitcoin because we all know that it knows it is true that anybody is trying to keep us going it must be because it is the poverty problem.

This is not new and not surprising news. Bolivia has recently banned bitcoin, then again allowed its use. The country is not constant in its decisions.

Bitcoin the most utilised and most sustainable crypto currency among all and there are even few countries that has legalised bitcoin even like japan South Korea Florida etc and has been using bitcoin for daily base transactions but still there are several countries for that bitcoin is still a concept and they consider bitcoin a myth and a kind of Ponzi scheme and the Bolivia is one of them for them bitcoin is still a illegal currency and we have to create awareness among them for this

At present, Bitcoin is considered an illegal currency, it is reasonable. Because it is not protected by the government, there is no guarantee of safe transactions. It is a distinct and unacceptable component of the world.
Anyway, I still believe in the future of Cryptocurrency. Because it can change the whole world by the excellent Blockchain technology.

I don't agree with this because i think today or tomorrow they must accept this.

Yes don’t make any thought before they choose which is right because if a country does not accept a currency it is due to some economical reason otherwise there is no offence will be there for them .

no problem bolivia banned bitcoin because bolivia is not one of the countries with the use of bitcoin is great there are many other countries that use bitcoin as a means of payment legitimate

Bolivia is a liberal country so it would surprise most of us if they really did ban bitcoin and other cryptocurrencies. It's not like they have an extensive economy to protect, maybe it's to block drug traders from laundering money

I think that the prohibition of bitcoin and Crypto as a whole in a country like Bolivia should not have a big impact on the market. Although in Bolivia Bitcoin is banned, but the public interest there is still very high for playing Bitcoin. they must have a way to keep playing Bitcoin and Getting money from Bitcoin. And we hope, there is no longer a country that prohibits Bitcoin, let Bitcoin quickly grow and its value can be high again, even higher than the end of 2017 yesterday.

yes I think that is indeed happening in 2014, now we are already in 2018 I think residents in BOLIVIA still make money from working on bitcoin.
I think this news is outdated, presumably at this time some people in the country are making money by trading and investing in bitcoin.

its a bad idea to ban bitcoin in bolivia because bitcoin have high value and banned made bolivia economics weakness.

I think you did not know that it's already happened, as far as I know it in the 2014.
Actually it's an old news and as far as I know they ban in Bolivia because the government are can not control it, correct me if I'm wrong.