Bitcoin Forum

Iran bans Bitcoin a few days after China did. This is coming after what seemed like an aftereffect of the Chinese action that saw Bitcoin dip severely (it still hasn't recovered from it).

I'm wondering if there are going to be any side effects or consequences for the Bitcoin community with the action taken by the Iranian government or is it just another case of "the snail shouldn't talk where animals with horns are asked for opinions"? Iran isn't such a big name in the crypto space, by the way.

According to report, the ban is a temporary one which will last only four months to enable the country correct its power blackout.

Do you think this ban from Iran is another FUD?

People will still probably use bitcoin even if there is a ban, pretty sure that the Iranian bitcoin users will be able to find a way. This ban could be bad for the prices but I am optimistic that the effect of the ban is going to be minimal.

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

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

CMIIW.

It would be better to share the reference when posting topics like this.

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Iran hasn't banned bitcoin and I don't think there's any legal prohibition against buying and selling bitcoin in Iran.
They have only banned mining. The decision was made due to the shortage in electricity supply.

Visit the link below for more information.
Iran bans cryptocurrency mining for four months to stave off blackouts (https://www.cnbc.com/2021/05/26/iran-bans-bitcoin-mining-as-its-cities-suffer-blackouts.html)

Mining is banned is fine unless they ban completely just like China which is more worst thing to happen. Atleast miners could still trade or hold bitcoin and make money just they used to do with mining only thing for a large setups they end up now in a loss as they will need to sell their units unlike ban is revoke from it.

If this happened au you mentioned a few days after china took their decision then Irans news didn't or followed the dip already. I don't think Iran has that much influence on the cryptocurrency market anyways but since it was around the same time, I don't think there will be a different effect from that again. 

The reason for the ban is the energy shortage, partially caused by Bitcoin mining (https://www.cnbc.com/2021/05/26/iran-bans-bitcoin-mining-as-its-cities-suffer-blackouts.html). The same article claims that most of the Bitcoin mining happens illegally, so I'm curious if the ban is going to help.
The main cause of the Bitcoin mining is of course the cheap electricity. If there's a shortage, it's too cheap.

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

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

There is also the difference between banning something and doing something about the ban.

If they announce the ban, shutdown one or two small farms and then stop doing anything it's a lot different then shutting down any large farms and working their way down to the person running an old S3 in their home.

As has been said, unlike China they are not a big player in the BTC mining field at the moment so it's not going to do much to the hasrate.

-Dave

Yeah, sorry it escaped me. You're right.

Of course. The news was on several sites (I read from)  and I didn't think it would be in doubt or difficult for anyone who wanted to verify it. That was why I left that out. But I will make it a duty to include links for similar articles next time. Thanks.

Iran didn't ban bitcoin or other cryptocurrencies, and it wasn't due to FUD why they only banned mining, and they only banned mining for four months. check posts above yours, there are links to articles as to why they banned mining for four months.

Get ready for banning & unbanning waves coming from multiple countries. There are various interests behind these actions, mostly political or economical..

When some countries will ban it, others will welcome it. Anyway, it's not like you immediately cannot use Bitcoin no more. There are lots of people still using Bitcoin undercover with Tor in banned countries. Even where Tor is banned, there are alternatives: Tor through bridges..

Bans will only affect weak hands. We all know governments don't like decentralized assets, and banning is like a targeted attack against us all. I'm going for the long term, because I know they simply can't stop something that is now spread like wildfire around the world. How do you stop all nodes from functioning? You can't, so Bitcoin will never cease to exist. :D

The fact that Bitcoin mining plants cause continuous blackouts in IRAN is the main reason because the electricity produced is not enough to supply.
The Northern Hemisphere is now entering summer and drought occurs in these countries.
Hydroelectric projects do not have enough water to supply electricity to the national electricity grid so banning Bitcoin mining in IRAN is one of the policies that I consider reasonable.
When winter enters the rivers will have more water so hydroelectricity will be more active and Bitcoin mining activities will be resumed.

Seriously, stop with the FUD nonsense.
Every time something bad happens everyone screams FUD even without checking what the news is about. Price goes down, it's FUD, it doesn't matter if they are really down for radical deniers even those charts, even the current price, even the high tx fees, everything is FUD.


They've banned it so they could take out everyone that was without a license which was supposed to be mandatory theoretically in Iran, and stop an inflow of miners that might take advantage of that subsidizing energy on which Iran spends a lot and it is aimed at the general population, not businesses. If those miners would mine legally and declare in advance where they set up and who much they are requiring the authorities could have planned for it but when you suddenly have gears burning MWs in villages that had just two fridges and one air conditioning of course there will blackouts.

I think it will work, tracing large consumers is easy, nothing works 24/7 at the same power consumption like bitcoin mining, and the risks of ending with all the gear confiscated is a way too heavy blow, the ones with dealing with over 100KW of equaipment will probably seek a license or sell their gear altogether.

Lol another fud we should get used to it, those kind of strategy made by manipulator is so used maybe we should move on and not try to listen if something like this spread.

If people will just calm and doesn't care about those unverified news I'm sure we can see bitcoin pump up more and the six digit target will possibly achievable.

Iran's been see-sawing back and forth numerous times since 2018 on Bitcoin. They will know by now they can't control trading as people there are anyway still doing p2p as I can see right now. Businesses dealing in crypto have also not run into trouble as far as I know.

It's the use of energy for mining that's always the problem for them. It's heavily subsidised, so if you're using power for commercial purposes, you're paying cheap residential rates and that's the problem. It's not just mining, it's any other industry, mining happens to be power hungry so that's what's being clamped down now.

Unless the OP gives a link from a reliable mainstream media article, I am going to treat this as fake news. Iran needs Bitcoin much more than the other way around. Recently, the regime even encouraged Bitcoin mining inside its jurisdiction, in order to earn valuable Forex and circumvent the sanctions. For the last few weeks, cryptocurrency sector has been flooded with FUD, and this rumor is the latest one being used for that purpose. Iran contributes to around 5% of the hash power and any ban could potentially bankrupt the miners there.

Whether it is FUD or not, it does not matter. Let the government of Iran ban Bitcoin. We will see how much hold they have over its citizens in terms of something which could easily be bought online P2P. Nigeria made their decision to ban Bitcoin. That resulted to a spike of P2P transactions there. Turkey did the same but all to no avail. Its citizens continue to buy and sell Bitcoin.

The more the governments react this way, the stronger Bitcoin gets, the more relevant it appears to the people. This is nothing but a confirmation that Bitcoin is indeed disrupting the traditional control system.  

People are already use to China baning btc, it hardly make any huge impact like the Elon tweet,  of course the recovery process will take time just like the pump process,  we can't expect the market to go back up as quickly as it went down,  and as for Iran,  I don't know how big the btc community over there is, if enough to cause any major dip in the market, however, still not the kind of news to see at this time when btc in the recovery process. We want to hear good news to boost the community spirit.

Just like China they are also cracking bitcoin miners due to blackout that had been happening several times in Tehran. They're blaming this to the illegal miners. The article says they have been confiscating miners devices since the start of the year. It appears like they are doing this before China did.

So they could be fixing things since they plan to unban after september.

Every post and title can be edited, so it would be good to edit the title - for the truth, but also for those who do not read anything but the OP and the title.

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As for all these things that have been going on for the last week, I think we’re giving them too much attention and just adding fuel to the fire completely unnecessarily. Musk is one man, China is one country, and Iran doesn’t play a big role anyway given that it has been under sanctions for many years.

After all, all of this together has only slowed Bitcoin down a bit - and I think the price is quite realistic for those who understand the market - for those impatient who just want to profit quickly things of course look tragic.

Are Bitcoiners such a Cult that they refuse to see what the news is plainly putting in their face?

Let me explain it then.

Proof of Work energy waste is causing too many problems for the environment and people living on the same power grids.
As such , to protect their people and power grids , Bans on PoW mining are happening.

It is that simple, it is not fud but FACT.
Until Bitcoiners solve the PoW energy Waste issue, more Government Bans of Bitcoin PoW mining will happen.

One viable Solution is Proof of Stake, like Ethereum has chosen.
But if Bitcoiners don't want that, then they need to come up with something else instead of ignoring the issue and hoping it just goes away.

I think it serves the purpose, to correct the power outages, but why it has power outages? I thought Iran has an ample supply of electricity coming from the combined output of fossil fuels and nuclear power plants, it seems that we don't really know what was happening around, by the way, if Iran bans Bitcoin completely I don't think it can influence the whole market, because Iran is not major crypto users it seems that the tweets are true about relocating the Bitcoin mining farm to Iran from China.

This makes sense :) But if the license was mandatory already, then basically nothing changed for the miners without license.

Not mining for 4 months will have a serious impact on the ROI. Difficulty keeps rising, and 4 months could mean they won't earn back their investment at all.

I was under the impression the sanctions against Iran would have stopped them from getting mining equipment in the first place. Buying second hand mining equipment from Iran might also be a risk, sanctions are serious business.

This particular ban has clearly impacted the market in a small way since Iran isn't a major player in the crypto world. Their reason for the ban makes sense. Saving our environment matters more than earning a few bucks.

Many big mining companies are trying to tackle this important issue by developing and improving environment-friendly machines.

Nah man, it's just nonsense. Just think of how many bombs and new weapons are being tested every year by the world's armies. Is that good for the environment? Does banknotes production not pollute the air? Do banks not use energy at all? Because as far as I know, there are millions of banks all around the world...

Humans will always leave a footprint. Calling out Bitcoin for using energy to exist is plain bullshit and underlines the true intentions of a government.. instead of banning BTC, they should've joined it and tried to find a way to make it exist while finding a solution to make it more eco-friendly. As long as a proper solution is proposed, we'd go for it! Nobody wants to pollute. This argument is plain crap.

Well, since the news is not touching the important part of this ban I assume they have introduced tougher penalties for those caught doing this during those 4 months, that would be logical and that's what I would do if I was aiming at cutting mining down, again, assumption.


Mining gear comes from China, there is nothing sanctions can do against this, as long as there is somebody willing to sell to you and send it to Iran miners will get into the country, just how around 10 million smartphones were imported with Samsung dominating the market. And for getting it out of the country, I doubt too much of that gear will be sold to western countries, except Canada and the US the rest are not a really good place for miners so I think if indeed sold most of it will go to Russia and the ex soviets state with low prices per kWh, and those couldn't care less about sanctions.

There is no "PoW energy waste issue". The energy is not 'wasted', it is being used for a purpose: Securing the blockchain. Why is that a less valid reason to use energy vs any other large industrial-scale usage of energy?

 Before going on about the power used for mining BTC you *might* want to check some facts about it...
A couple good links regarding power usage:
Mining power usage (https://cbeci.org/)
Power usage comparisons (https://cbeci.org/cbeci/comparisons)
On that comparisons page they looks at the power used in the US alone to power always-on but idle devices (https://www.nrdc.org/sites/default/files/home-idle-load-IP.pdf): result is that power used for idle devices would power the entire BTC network for 1.9 years.

Iran is not permanently banning Bitcoin mining, there are few hours where they will stop it. Plus use your common sense , if they are not mining , the supply of BTC will decrease and hence increasing the demand.
Also, Sir we know that Iran is having power issues in case of Bitcoin mining & BTC mining is helping Iran avoid USA sanctions.

With the exception of a handful of countries and some institutions, most countries and institutions in the world have not yet accepted Bitcoin as an acceptable medium of exchange. Moreover, world politics has an effect on it. Whether or not China is convinced that Iran has banned bitcoin in their country is not entirely in its hands. Bitcoin has had its own features since its inception, and although its popularity has been curtailed by restrictions, its use has not been fully controlled. So let's see how the ban on bitcoin in different countries affects it and how it regulates the use of bitcoin. But I don't think it will have much effect on Bitcoin.

Misleading title of the topic. Kindly correct it.
I read it in several articles that due to electricity shortage and recurrent cut, they decided to stop mining activity temporarily for 4 months, until September. I can understand such decisions, they can't produce enough energy to cover the extra usage in hot summer. source (https://www.theverge.com/2021/5/26/22455264/iran-cryptocurrency-mining-ban-annual-summer-bitcoin-spies)

As far as I can see, the Iranian government has nothing on crypto its ban mean absolutely nothing. And do you know why?

Well, let me ask you, how many casinos or IDOs have you come across where Iranian citizens are able to participate? That's right, NONE.

So this news is nothing but FUD.

Iran placed a four months ban on Bitcoin and other cryptocurrency mining, and not a permanent ban. Their president, Hassan Rouhani said the country is facing major power outage in most of their cities. About 4.5 percent of all Bitcoin mining do take place in Iran, which affects their electricity. This action will really affect the cryptocurrency community.

This is the right decision, if they've seen that mining is one of those factors where shortage in their electricity is happening, the best thing to do is to cut it and assess if they'll needed to completely ban this activities to save up or find alternatives to assure that their people won't suffer more with this shortages.

The government needs to find ways as it is there obligations to their people, it isn't personal with the mining industry but more on the issues with country's power shortage.

lets not rush to conclusions, lets wait for the dust to settle and get a clear picture


This is something you dont see everyday and i find to be  interesting, so this ban is being enforced to prevent miners from using power from the main power grind

but if you say there is a blackout does that not mean these guys are using alternative sources of electricity to mine??

Anyway not sure about the FUD part but If this is temporary then no need to be alarmed its just one way of sharing the available resources and a preventive measure to avoid an over load .

Elon Musk and the newly created North American Bitcoin Mining Union disagree with you.  :)

https://www.businesstoday.in/current/corporate/bitcoin-price-recovers-to-38403-after-elon-musk-meeting-with-miners/story/439914.html

If their was no bitcoin PoW energy waste issue, their would have been no meeting.

First time to hear that when they've implemented a ban, they've already said that it's temporary because of energy problems. In the community, it's not going to be a problem.
But in the market, there will be for sure backfire because of this news once it's published again by the media outlets.

As you said, if the ban is temporary then sure, it's not a big deal since we a have to agree, electricity and environment>>>crypto. I don't think Iran will achieve anything good by banning crypto, but maybe they have reasons we don't know about, like lots of criminals using crypto for terror activities? Maybe, we don't know, hence can't comment. But if it's due to power restart, then why not, it's a good decision for the country :)

I think this is real populism, because under sanctions, Bitcoin allowed Iran to buy a lot of goods and services. I think this will continue, perhaps Iran wants to play along with China in its global strike on bitcoin, but I do not see any reasonable reasons for this. When something is prohibited somewhere, it instantly creates a black market and takes money away from government control, which at least somehow could manage the process through regulation.

What i find amusing is that the countries that already banned BTCitcoin are banning them again and everyone is panicking that China and Iran and any other country that already banned a few years ago comes out with another statement:D.
China recently started taking action against miners but some are reporting as if China banned BTCitcoin trading recently.

I have seen some big players from Iran in the past but they were already facing issues trading in exchange for the past 4 years as many exchanges ban people from Iran trading in their exchanges and it was hard for them for several years and there are communities which engage in trading using escrows, so generally it wont have a huge impact on the market.

After China's actions, some other countries also started to impose a ban on Bitcoin. But I don't think that Iran can have an important affect on the market by this action. It could be another FUD.

Iran, although it does not have much significance in the crypto segment, it still reserved the right to negative news. And they are most likely not doing it for fun, they have been at war for many years, and I think that the government sees some connection in cryptocurrencies.

People are repeating FUD even in this thread.

OP said that Iran banned Bitcoin right after China, but China did not ban bitcoin this month. It only reminded that the ban is in place. China banned bitcoin years ago by not allowing banks to work with cryptocurrency companies and stopping people from exchanging their fiat currency to bitcoin.

People act like it's a new thing that suddenly bitcoin is banned in China. Like it's such a big news that nobody could predict.
Last time I checked they only warned that coal mining will be banned in future, but people are saying that china is banning mining and panicking. This is what FUD is all about.

When it comes to governments, I might think that Iran's most recent ban is due to protect its investors or maybe it is because the elites, and some governments want to participate with bitcoin, and since bitcoin already had a high price. They have wanted get it down with these FUDs to get into the game.
This Cointelegraph post has cleared up some doubts on that topic for me.

Here may be the exact news about banning Bitcoin mining, not Bitcoin itself.
https://www.bbc.com/news/world-middle-east-57260829

The ban is caused by the energy consumption by mining cryptocurrency. This ban will run around 4 months later.
So, it seems that it is not a permanent ban. Maybe they will evaluate again whether the blackouts end or not after this banning.

There are currently 14 big bitcoin mining "factories" in Iran, managed by Chinese. They consume together 450 MW.

https://www.computerbase.de/2021-02/bitcoin-ethereum-china-miner-iran/

At the beginning of the year, the idiots from the energy ministry of Iran even called it "BitCorn".

With the Corona Virus lockdown, currently the streetlights are also off in the night-time. It is simply dangerous to walk nights.

Currently every day Tehran has about 3 h blackout. The economical issues are bigger than any mining profit.

Imagine how many simple people get fucked by this, as their refridgerated food gets destroyed. In a country, where you have a minimum income of 3 Mio. Toman per month, while even the iranian parliament estimates that the poverty-line is about 10 Mio. Toman per month.

Also... in few weeks are presidential elections. So people have to be appeased... Thats perhaps why the ban is also limited till 22nd september...

Since this is just a temporary ban for bitcoin mining and not bitcoin itself, i think this won't affect the market that much. Unlike China that bitcoin as a currency is what they are banning so it probably leave a huge impact on the crypto market.

But as we all know, bitcoin may create a huge decline of price but it will always find its way to recover. We have witnessed its past struggles and it even made bitcoin gained more support from the community.

I doubt it's going to affect the market much. Even if it does, its going to be temporary. And like others said, they didn't ban bitcoin, they just banned mining to recover from power shortage which makes enough sense. It's even a temporary ban. So nothing big. No FUDs are being spread. But a thread title like yours spreads FUD. Change it to "Iran temporarily bans bitcoin mining", and you are good to go.

Iran has long had (since 2018) a banking ban for Bitcoin, which prohibited any financial institutions to get involved with crypto. So I figure they never were much of fans. Basically, all they needed is a little push, a sign after which they would enforce a full ban.
And taking into account close economic relations between Iran and China (supported by the fact, that China put in billions of dollars to help Iran develop the oil industry) we can assume that there had been some kind of inside agreement between these countries, that made Iran follow the lead.

If I remember correctly a few months ago Iran confiscated all Bitcoin mining machines they could lay their hands on.   And then turn around and started mining for themselves and now have declared Bitcoin mining illegal for everybody but The Government.  And the reason for this is it gets around some of the sanctions applied to them


/Tinfoil off

i don't see any significant effect from this news, In fact, for almost three days the market condition has continued to improve and is stable. maybe there the influence isn't too big so we don't need to worry about it

This will just be for North America. They are not the authority when it comes to mining, they may be able to persuade governments to ban BTC mining and provide licenses to miners but there will be more miners hiding instead, the motivation to earn BTC is just going to be alluring.


They've been sanctioned many times in the past and if BTC could get them around, it makes sense, it's good which means they really are going to adopt BTC.

Iran only preserving what they knew can benefit them. They not totally against crypto, as you can read on the article its about the bitcoin mining, they wanted it to stop for a while and they even set the date for it. I'm not sure about it being a fud. Clearly they are still into crypto, it's not like China that have hidden agenda over the market.

Iran contributed its shortage in electricity to the mining of Bitcoin then banned it to make for more electricity allocated in the solution of drought and civil comsumption. it's not Bitcoin to blame but Iran's impotency in electricity supply. in terms of its effect, I believe it will surly affect Bitcoin to some extent, but not as severely as China has done since Iran is not so big or influenncial as China...comparatively smaller one. Besides, China together with Iran will ban Bitcoin mining for a short run temporarily. if you are doing long-term investment, there's no need to worry about this. prohibition will retreat someday and it won't be too long. The two countries are just adjustment its policy to suit Bitcoin trend for a more lucrative future of Bitcoin :)

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

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

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

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

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

Iran Banning Bitcoin rise the value of bitcoin to $40,000? These news are getting ignored by the hodlers, Im sure whoever push that up is very eager to buy bitcoin at low prices more.

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

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

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

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

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

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

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

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

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

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


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

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

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

Actually the news comes  even the price or market dumps so this is not the same issue.
Depend on how you looks at it , and how you dealing with it.
Manipulating mate , that's what is happening .

They definitely did not ban Bitcoin because as far as I know they only you can not do any sort of crypto mining during the summer to save electricity but surely that would'nt effect much on the price and meanwhile they can continue buying or selling coins of their choice.

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

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

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

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

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

Offially Iran mines btc to bypass the USD embargo on IRAN

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


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

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

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

The funny thing is nobody actually mines btc, as you need special purpose asic machines, which cost a fortune in Iran, lets say that when they say 'mine' they're probably meaning gpu mining, which most of us can do, in  a closet in the house.

Even CHIA, has taken all of ASIA by storm, which is hard-disk mining; most btc mining 90% is done in coal burning regions of china, that's where the mining  hw is built, & deployed.

If it's only temporary ban, then i don't think there will be any impact from that, even if there is, it wouldn't be to significant. Ae you said, Iran is not that big name, not trying to look down Iran, but unlike china who hold a big power in the economy, and will be able to impact things, Iran doesn't have the same impact. Even, the dip from China is still bearable though, not that severe that we're desperate for it. I guess everything will be just fine.

Iran endorses mining activity and I think it is backed by gov tol as a way to pass sanctions even partially. The problem is when random people and non-gov companies are mining too and the level of electricity consumption jumps a lot at a point there will be electricity shortage then prohibiting them from mining in the hot summer can make things better for their electricity system. Of course if the gov is mining too, it won't shut its own ;)

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It is a temporary ban. No Iran has a weight in the mining ecosystem, 4% if I am not mistaken.
China is another complicated story and has a heavier weight indeed.

Because there are no important exchanges or companies that accept Bitcoin in Iran.

If you heard that Mongolia or Zimbabwe banned Bitcoin, would you really care? That's unless you live in those countries of course ;)

Most people care only about world superpowers and the places they live in, that's all. There are countries that mean something and countries that nobody cares about economically. Iran used to be a great country before the revolution. Now it's only known for its nuclear weapons that officially don't exist ;)

Iran ban Bitcoin mining but not bitcoin at all. I think mining Bitcoin is the Huge amounts of energies consumptions loss. Many countries governments already declared to ban mining but not bitcoin any more. Iran governments also ban Bitcoin mining.

With the rumors that bitcoin will be banned in China and now in Iran, the value would surely be affected a lot which means the bearish market might last for a while. Considering that the energy consumption due to bitcoin mining was one of the cause, it is somehow understandable and also Iran is not really fond with the use of bitcoin. A lot of people in there will surely be affected but we all know they will still make a way on how they can gain profit and use bitcoin amidst the current restrictions being summoned upon them.

im sure if every country will make regulate this coin, the effect can make them shaky. it can make shake every economy country, and some of them ban to save their way. and people still use this coin, for investing or whatever it is to grow their life.


impact just for that country.

And besides, I am not surprised with this move from Iran. This country seemed to move backward instead of forward. As you said, they have no significant impact in the market. Even if they totally ban the usage of crypto, a lot more countries are very open with crypto market. So it is not the loss of the market, but the loss of their people. They should think of the welfare of its people especially during this pandemic.

These banning news have all over been in the market for a long time and it keeps on affecting the market. Well, it's not really new and it has always been affecting the market regardless where the news is coming from.
As long it's a negative news, see to it that there will be the negative impact of it afterwards.

I think the news itself has little effect on the price of Bitcoin, but it is used by people to lower the price in order to buy more Bitcoin at a low price.

They just banned Bitcoin mining because of power shortages, but did not prohibit the purchase and use of Bitcoin, which will not affect the entire cryptocurrency market.

Iran banned Bitcoin because of insufficient electricity in their country. Bitcoin needs a lot of electricity. At the same time, Iran has ushered in the summer. There is very little rain and it is unlikely to use hydroelectric power. Therefore, Iran has banned for four months. I think when the Iranian goose winter comes, there will be a lot of precipitation. At that time Will they revoke their ban.

I personally think that Iran bans Bitcoin because of electricity, and does not say that it is forbidden to hold Bitcoin, because the weather is hot now and many places are unable to use hydroelectric power generation due to drought.

Iran actually said the ban was only temporary, roughly 4 months, because people are mining illegally (either without government approval or stealing from the grid) are causing power cuts in large parts of the country. It is the only sensible decision the government could take really as it definitely would not be fair for the average citizen to be affected by the activities of a few seeking money. Bitcoin is actually a very useful tool to the Iranian government so I don't think they've taken this decision very lightly at all, because they have relatively few ways of raising money internationally and this was one of them. If I recall correctly Iranian bitcoin miners were responsible for roughly 6.5% of all activity, which considering they country is a pariah is very high and shows previous support from the government.

This is just another FUD. But I don't think that Iran's actions could affect this market deeply. Still, I don't understand why these countries are doing whatever China does to try to damage this market. Rather than banning, they can benefit from cryptocurrencies a great deal if they just make regulations.

The purpose of Iran's prohibition of Bitcoin mining is not to suppress virtual currency or not to recognize the value of virtual currency. Iran has a small proportion of cryptocurrency in the mining field, so its impact on the market is also very small.

Iran recognizes the value of Bitcoin and the virtual currency market, and Iran itself is responding to its own electricity demand.

The root cause of the ban is for the country's electricity use, but most of the miners who mine in Iran are not supervised by the Iranian government, so the policies issued by Iran cannot completely solve the problem of Iran's domestic electricity use.

The root cause of the ban is the country's electricity use, but most of the miners who mine in Iran are not supervised by the Iranian government. Therefore, Iran's policies cannot completely solve Iran's domestic electricity problem.

Iran is not suppressing the crypto market because of its suspicion of the crypto market. It is because in order to ensure the use of electricity for Iranian citizens, it has introduced a suppression policy of only four months to restrict the mining of Iranian Bitcoin miners.

 Its because of minig that always the reason of black out of many city in iran not the bitcoin itself mate. highly recommend to must use google before jumping to some fake news around the internet.. Because its not good and you will always looks like some of those fuds trying to spread some sort of negative when it comes bitcoin. No offence mate but that's true wherein always make research before making such post to prevent fakes news around the internet.. Regards

Even if the ban is a temporary one, I still don't find it right to do. They could have solved the blackout problems by imposing some restrictions on Bitcoin mining. But they just took the easy way out.

I  will  be  surprised  if  they  ban  Bitcoin.  I've  read  before  that  the  Iranian  government  use  Bitcoin  to  avoid  international  sanctions. 

We have seen so many FUDs lately and it is really frustrating. I think this should be enough already. Cryptocurrencies are already having a really unproductive period. There is no need to manipulate the market more, right?  ;D

Iran only banned bitcoin mining and that too for only few months of summer.  They never banned bitcoin itself. I don't understand why media always gives fake news only to create attentions towards them. Also its people fault who do not read the whole news and start to believe in the fud.

Maybe there is a need for the whales to manipulate the market to make bitcoin dump more. who knows  ???
Bitcoin is so much strong fundamentally and only fuds like these can bring the bitcoin price down temporarily.

Nah, this is not going to be having any effect in the cryptocurrency. And also placing a ban on cryptocurrency cannot stop people in that country from making use of cryptocurrency. They can still buy and sell it at this time, so this is not an end. This is not the only country that we have seen this year that has banned cryptocurrency.

Nigeria is one of the big investors in cryptocurrency and they still ended up banning it, but that stop their citizens from investing in it, and it also didn’t cause the price to crash, the price continued to increase. Then we saw china ban it again of course that did affect the price and that’s because china holds a large percentage of mining Bitcoin. So none of these can really crash that price, and if they do , it is not going to be much.

Iran bans bitcoin this is not a new matter but we see small country  came into crypto currency and accept it.In this time Iran left it there will be some political Issues or Mining crypto which has lots of electricity losses and they have not enough power supply in summer.Instead of all those things i think this Change  will be not very affects on Bitcoin.Bitcoin Walk his own Way who wants to walk with will be benefitted.Since all thouse Years bitcoin is the king of all crypto currency.

Bitcoin due to its speculative nature is greatly affected by news. Bitcoin has already gone down from 50k and now trading in between 30 to 40k. If Iran ban on bitcoin mining has some effect it would be visible by now but nothing has happened till now. So I too like others believe that it won't affect bitcoin in days to come.

This won't remain forever. Currently whales are holding majority of the bitcoin and they are able to manipulate the market with such news. Once the marketcap of bitcoin will reach near the gold and there are many more people holding bitcoin, the manipulation power for the whales will become lesser with time.

More than a half of Bitcoin miners were located in China.n I don't think that Bitcoin ban in Iran will lead to such consequences. 

Recently anywhere from 4% to 5% of the mining hashpower was coming from Iran. For the Iranians, Bitcoin was one of the ways to circumvent the sanctions and embargoes. But now it looks as if the mining farms were using too much electricity and the other users were complaining about it. Hopefully, this measure is a temporary one, and as soon as Iran finds a way to convert a part of its surplus petroleum to electricity, these mining farms will be back to operation. It makes sense, doesn't it? They can't sell their crude oil and natural gas as a result of sanctions. Then why can't they use these resources to mine Bitcoin and profit from it?

They don't ban Bitcoin, they just ban Bitcoin mining for a few months. I found that the news that Iran banned Bitcoin mining did not affect the market too much. The market has fallen deeply in the last two weeks, the recovery in June is expected by a lot of people right now.

Iran does not prohibit bitcoin mining, but Iran prohibits bitcoin mining, because of the blackout problem in that country, Iran and China are compact in banning bitcoin mining, maybe in the future Iran will provide more opportunities for bitcoin miners, because we see Iran as the crypto money of Syria. .
even though without them I think bitcoin will be fine, because bitcoin has been working for 13 years, and will find solutions to all the problems that exist ..

I am not going to read the comments here and I am going to give my own opinion first based on what I have understood about the issues with China and cryptocurrency. Now for one, we all know how close the ties are between Persia and China right now. The have a common enemy, the West, and they have already forged some military related ties together. Now China has been bragging lately about their development of the Digital Yuan, which in my understanding is the reason why they want bitcoin out in China. Iran being an ally of China, or maybe at the behest of China is also doing the same tactic to help their ally be able to achieve their goals in cryptospace and maybe Iran might be able to get a sizable chunk of Chinese support.

Yes, they banned only the mining activity. But it will be too early to claim that it will not be having any impact on the market. Because Iran had a considerable share of the mining power. And I am more worried about the miners there, who made huge investments in terms of mining equipment and cooling systems. If they are forced to suspend the operations for 3 months, then they will be short of cash. These miners will be forced to sell whatever reserves they have, and it will further push down the Bitcoin prices.

Well, that span of banning mining activities could certainly affect the market price but that was not what I worried about, I care about the financial support that these miners might be in trouble. I mean, where they could get their daily necessities if that be going to happen, I hope they could back up more but during this covid-19 time, it was pretty challenging. And might be you're right, they will sell their mining equipment before they will resume their operation.

Good thing that Iran only banned a bitcoin mining and not the bitcoin itself also for a short period of time only. Though we may tell that it may not greatly affect the cryptocurrency market but it has still an impact. Like what happen when China announced to banned the legal circulation of bitcoin in their market and Tesla announced that they would not going to accept bitcoin as a payment to purchased Tesla car it really made a huge impact to the market. I just hoping for a day to come that bitcoin will be accepted all over the globe not just bitcoin but the whole cryptocurrency market.

This ban will be lifted because the Bitcoin market is a general trend.

Your opinion is correct, miners will dump their crypto holdings to maintain warehousing, staffing and other costs. The market can freeze for a short time. I trust they will pass soon as they have been mining Bitcoin for a long time so they will be fine.

Most of the miners are going to sell their mining equipment and quit. Because if they can't mine Bitcoin for three months, then they can't sustain the operations. It becomes financially unviable. And also, there is no guarantee that such bans won't be imposed again in the future. But there will be a small section of the miners, who will continue with their business despite the ban. And it is this group which worries me the most. If they are caught, then you know the harsh punishments they may receive under the Iranian law.

I don't know if this news is true or not, because I have searched for information from various forums and sources but did not find any news about it, at least reference input from where this news source is and can it be trusted or not because I know that Iran only bans mining bitcoin because of this impact on power outages there, in addition to this mining is also banned for only 4 months until September 22.
sources about the ban on bitcoin in iran if possible it is included so that I can add the latest information about bitcoin

I think you are wrong, get used to reading the news correctly because in Iran there is no ban on bitcoin. What currently exists in Iran is a ban on bitcoin mining because it resulted in power outages because the electricity supply was so wasteful that bitcoin mining was banned and even then, only 4 months were counted in the last few days until September.
get used to reading news and information thoroughly so that you do not spread false news because there is no ban on bitcoin in iran and this can be a hoax, my friend. at least if this is true please provide a clear source from which to get this news

You're right with that and there's one from CNBC that appeared quickly to my search result. The article was published last May 26. It was indicated on the OP that it's temporary due to that reason but he probably forgot that it's bitcoin mining.
News: Iran bans bitcoin mining as its cities suffer blackouts and power shortages (https://www.cnbc.com/2021/05/26/iran-bans-bitcoin-mining-as-its-cities-suffer-blackouts.html)

I don't really care about it. Many countries already ban bitcoin and many countries accept it. Many negative sentiments that spread now, I think it is mean that bitcoin price will go lower and lower. I already have plan to anticipate it, I am very careful to take action in trading now. I think there is a bull trap. It will be good if I can buy bitcoin at 20k price level. But don't be afraid mate, volatility is a common thing in cryptocurrency market. Our psychology is hardly tested in this market.

The fact they can be banned but they don't have totally have full control of bitcoin, people can still use bitcoin there anonymously and even trade-in P2P exchange. This is not new to me, there's always a country that bans bitcoin but right after how many months they will lift the ban knowing that they will not totally control it.

Just let them be, someday they will realize that instead of banning, acceptance and put regulation is much better. Government always finds ways how to tax cryptocurrency but the sad fact that decentralized nature will hardly seize it.

Why is it that people tend to say "enough" like they have the power to control what governments or corporations say. I can say "enough of this already" but I can only say that straight in the face on someone who is my own level or stature, like a colleague at work or a friend or my parents. But saying "enough" to something you want to stop, but literally you know in your heart you cannot stop it is pure frustration and honestly I find it funny as well. We can simply rant all we want, but as long as these governments and corporations do their thing against Bitcoin, then there is nothing you can do but rant.

Every measure is introduced, there will be his reason, Iran's measure, in my opinion, is quite reasonable.

How can it be called reasonable? Bitcoin miners are not stealing electricity from anywhere. They are paying for the electricity they use, as per the prevailing rates. If there is a shortage of electricity, then the solution is not to shut down all the power consuming sectors. The government should introspect why there is a power shortage, despite Iran being so rich in energy sources such as natural gas and petroleum. Bitcoin is one of the few remaining forex sources for Iran, and they should think twice before taking these sort of measures.

Most countries in the world have had such a bad effect on the price of bitcoin to ban bitcoin and the price has started to go down. But even though there is no information about the ban on bitcoin in Iran has banned mining of cryptocurrencies such as bitcoin for four month bitcoin's activities run through blockchain which is actually a digital ledger of transactions. Miners audit these ledgers in the hope of making a bitcoin profit and the whole process requires incredibly high computing power which is why the power consumption is so high.

maybe the news is FUD, so many people are afraid and maybe behind it there are some people who want to make a profit. I've read that Iran is also called a crypto paradise, Iran offers cheap electricity fees, and Iran offers miners to sell their bitcoins to the central bank. the country also allows the mined currency to be used to pay for legal goods. and recently there was news that iran banned bitcoin because many cities in the country had power outages binding. so I myself feel that all this is FUD, and I will not be affected by this news.

Agree, humans always find a way to get out of things and this ban is just a piece of cake for them, although the market will definitely get affected by these ban even if the people are crafty when accessing bitcoin.

This news was reported in barely every news agency and even in international TVs and you are still talking about speculations. That country risks electricity shortage in the hot summer with the enormous rise of power consumption in this season + illegal mining activities will cut electricity from large parts of the country and this will destabilise the fragile situation there. It is normal to restrict or temporarily ban mining until September. End of the story.

Nope. It is not easy. If the ban was on Bitcoin trading, then I would say that there are ways to get around. But they have banned Bitcoin mining (the OP wrongly posted as "Iran bans Bitcoin"). Now it is not that easy to anonymously mine Bitcoin. Trading can be done digitally and therefore it is easy to use a VPN and hide your identity. But this is not possible with mining. Physical hardware is involved and you need electricity and cooling. It will be impossible to do Bitcoin mining in a 100% anonymous manner. 

That really makes sense when you said that it might be possible that the possibility of electric shortage is very high and that might be the reason why the Iranians have temporarily banned Bitcoin for the time being so that they would be able to save on electricity and they will be able to save power for the summer when it gets very hot. That is really logical in my opinion and definitely not a big blow on Bitcoin. So I guess I will not bother nor be worried for Bitcoin.

Iran is a crypto paradise,, Iran has only banned bitcoin miners for a few months, because of the energy waste problem, in 2018 Iran did the same,, China has banned bitcoin miners, now Iran is following in China's footsteps, what do you think for the future, which country again that will also ban bitcoin minin

This news comes after the ban from China and its impact does not appear to have affected the crypto market.
Iran's ban has a limited time and we can hope in winter miners can return to their mining.

You may have to read some of the post on the first page before you start answering. What you need to know is that there is no ban on the use of bitcoin in Iran and they can trade it as usual because the ban only applies to bitcoin mining. This can trigger the emergence of FUD in the market so that the price of bitcoin can be affected because Iran is one of the countries included in the list of the top 10 bitcoin mining countries. However, this mining ban is only temporary until a solution is found.

because indeed this news actually does not exist and indeed iran does not ban bitcoin which iran prohibits that is mining is only temporary, only 4 months because they lack electricity supply and when bitcoin mining occurs iran is increasingly short of electricity so it causes power outages.
we don't know what will happen after 4 months but there is definitely no statement from the iran government banning bitcoin.

what you say is true bro, there is no bitcoin ban in iran,, as i know iran only prohibits bitcoin mining for reasons of wasting energy, and the occurrence of power outages in several iranian countries, just like china also prohibits bitcoin mining
they can't ban bitcoin investment, because bitcoin has become a crypto haven in iran..

The title given by the OP was wrong, because Iran never banned Bitcoin ownership or trading. All they did was to temporarily prohibit the mining of Bitcoin for a specific duration due to power shortage. When posting these sort of news, the users need to be careful (or rather more honest). Here a ban on the mining of Bitcoin is given as an overall ban on BTC. The OP might have received a large number of replies and views, but in the long term these sort of posts are not good for us.

But there are a few other things that need to keep in mind. According to the Iranian government, 85% of the mining is being done illegally. The authorities need to check why this proportion is so high. Perhaps the licensing system is corrupt or inefficient and that is why most of the mining is done in a discrete way.

I've said in my past post here that you guys are right and OP probably have forgotten to conclude that it's about a temporary bitcoin mining ban. But there's no outright ban of bitcoin on Iran.
And that's actually a good news because they're recognizing the power of bitcoin on their country and they're doing something to make their country better and didn't just put a total ban on it.

That means that sooner or later, mining companies will turn back to their normal operation. I hope this will never take so long as it wasted a lot of time with no income and I believe these people are in need of money especially during this crisis time.

I do believe that Iran government are also doing their part to legalize crypto/Bitcoin. And by giving their support towards crypto industry the more it gives opportunities for their people and helps improve their living. I hope this could be their mindset, not being greedy to collect taxes for small market players.

Yes, it's temporary. It's stated on those articles how long the stoppage will be made. It's not all about banning bitcoin but they're just giving a way to their country to preserve their electricity.
And so far there are no other countries that has done this but the bad news is that instead of temporary ban on mining for the sake of electricity consumption, they're really banning bitcoin.

The world in general is looking towards any way to cut down on carbon emissions. Bitcoin mining is a huge target and will be the undoing of Bitcoin if not properly evolved to a more environmentally conscious Bitcoin

Do you have any proof on this? As far as I know, the ban covers only the mining activity. Trading is not prohibited by the regime. And I do believe that this is a temporary measure, because from what I have heard, Bitcoin is one of the few options available for the regime to get their hand on some foreign currency. So if they are able to regulate the industry, it can benefit the Iranian economy in a big way. But it was really surprising to hear that Iran is facing power outages, despite being so rich in petroleum resources.

So basically they want to keep out of bitcoin production but still keep the circulation right? We should start looking into renewable energy and nuclear energy so we don't experience any power outages anymore.

it banned Bitcoin mining, not Bitcoin. and it just banned Bitcoin mining for a short time. the ultimate reason behind this is Iran's weakness in power provision, not mining to blame :P I'm sure it will reopen it soon when electrical problem get resolved, so is China. unless the world and explore another thing to take place Bitcoin in function, otherwise Bitcoin is an unstoppable trend, anyone who bucks the trend will bear the consequence followed. no need to get affected by those negative talk, hold your coin and await ;D Bitcoin is on the way to renaissance and it's just a matter of time

Even though Iran has banned bitcoin, I don't think the current situation will last long. the price will recover. Iran is not a country to be reckoned with in the crypto world. Everything needs a process.

I stand corrected. It's just that they're only banning the mining of bitcoin. I have no idea with their electricity facilities but if they think that it's the reason and it is disrupting their whole countries, electricity supply.
Then, they shouldn't look only to bitcoin mining but also in other industries that's consuming a lot of electricity.

maybe in their country there are many who mine bitcoin, the government bans botcoins for a while maybe this only lasts temporarily as long as electricity repairs run if electricity is normal then ban it and withdraw it again.

it's true like you said mate, iran only banned bitcoin mining for a while, because of the electricity in their place being repaired, but once everything is back to normal, maybe they won't ban bitcoin miners anymore, because in iran is a crypto paradise, if iran continues to ban bitcoin mining , I think th

hopefully what you say can happen in accordance with what can be expected for the miners there, electricity problems always create their own obstacles for miners, they should create solar electricity so that they are not dependent on the state electricity supply.

The main problem in a country that consumes a lot of electricity by large miners is indeed felt, such as China has also experienced this and almost all countries whose miners are indeed very large. The solar electricity solution carried out by the US is certainly very reliable, while the price of crypto is indeed high so that it can cover the cost of making solar electricity which is clearly not cheap, but can be prolonged.

That may be true, but it needs to be seen whether the miners can recover from this extended period of closedown. Even if they are not allowed to operate, they need to take care of other expenses such as rent, maintenance and upkeep. For a while, they may be able to survive by selling their reserve coins. But eventually that will run out and they will be forced to make some tough decisions. One option would be to take a loan, which will be risky since we don't know whether or not the ban will be reimposed after 3 months. Another option is obviously to sell their mining rigs and make the exit.

It is true that there is so many people who mines crypto in Iran almost 5% of miners came from them, but the electricity consumption could be critical since the fossil fuels scarcity are pretty rough the governments really have no choice but to take actions and the fact that some can illegally manipulate electricity and use it for mining is affecting their electricity circulation meaning there would always be an outage in some place if there are a lot of miners in one place.


This is a good option but I think police confiscates some rigs and probably give it back after the problem being solved.

Undoubtedly it is a FUD. At first Elon Musk created FUD to say that coal is used in Bitcoin mining which is not Eco-friendly. Shortly afterwards, China banned companies trading in Bitcoin, and the next day Iran's FUD of crypto bans was heard. It is clear that these are pre-planned, everyone is simultaneously spreading FUDs so that the price of Bitcoin goes down and they can buy more deep.

It is amazing, that whenever any news not good for bitcoin comes out,
all a bitcoiner cultist mind can answer with is fud.  :D

In a bitcoiner cultist mind, when a government bans a PoW mining process,
it is because that government is trying to scam the market so they can buy bitcoin cheaper.

How stupid are you bitcoiners?
* Note: Many have been warning of Bitcoin Proof of Waste since 2013, don't be surprised that the bans are starting in 2021.
After 8 years Bitcoiners have ignored the ever growing power waste problems and now governments are having to shut your ignoring wasteful mining arses down to protect their people.

That you think Governments of China & Iran & New York have nothing better to do that manipulate your coin price.
They ban bitcoin mining , because the bitcoin mining is causing the local power infrastructure problems such as potential blackouts.
It is nothing more than that.

Fix Bitcoin lousy Proof of Waste issues, and the bannings stop.
Keep crying fud like a bunch of retards claiming Proof of Waste is not straining power grids,
and the bans and falling price will continue.
It is that simple.


FYI:
Solutions to Proof of Waste
Best Solution:  Proof of Stake  (Like Ethereum Devs are smart enough to recognize.)

If however , the stupidly to remain with PoW is that great, other options are available.
1. WorldWide Regulation on the # of ASICS and the locations allowed to mine bitcoin
Agreed upon limited number amount of Wasteful ASICS.
Number of ASICS world wide would have to be regulated and divided per power grid,
so at no point are they ever a threat to crashing that power grid,
even during stress period like heat waves or sub-zero temps.

2. Find and Design a new Energy efficient Proof of work that is not based on electricity wasted.

Bitcoiners need to get off their collective arses and choose a solution, before no one cares.

Personally I don't care , as Cardano is already appearing to be the Proof of Stake that will unseat bitcoin on CMK,
and it has performance and features that bitcoin will never even dream of.  ;)

Choices are being made Bitcoiners, make yours, before others make it for you.

I don't care about the news or the FUDs, but I saw it really brings impacts to crypto prices. It is the real problem, buddy. As long as the FUDs won't impact the crypto prices, we can ignore it. However, FUDs are everywhere right now, even Elon Musk is spreading FUDs with his tweets. For me, it is a serious problem and we should care about it. Moreover, it is not only Iran, big countries like the USA and China also spread FUDs currently.

These are the games from the big players in the market. Elon Musk who is well known for his profit making plans. Where there is money, he'll make big money out of it. A plan of execution is his words.

China being a big market for cryptocurrency, particularly for mining has got big power to make disturbance in the market. Possibly soon we can expect some inspection to be done by the Chinese government on exchanges.

Followed by that is the Iran's ban on bitcoin. Do you think just on the ban people stop using bitcoin. The same volume can be seen on Iran trading platform even after the ban. So, these are ways of market manipulation.

This is a bad move for them since their economy is not doing well and they are looking to this kind of opportunity like bitcoin to divert their assets. With their decision, the only people will suffer are their citizen because they've just lost one opportunity that might turn the table of their current situations.