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Author Topic: Where did this notion come from?  (Read 945 times)
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February 11, 2017, 12:07:24 PM
 #1

"Bitcoin is banned in many countries"

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



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February 11, 2017, 01:31:31 PM
 #2

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

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














 

 

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February 11, 2017, 01:37:34 PM
 #3

"Bitcoin is banned in many countries"

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

If you're referring to the Chinese scare, it's branded as anti-money-laundering most likely because the government doesn't know what stance to take on Bitcoin yet and doesn't want the investments to run off yet (still, dropped prices to 750 and that's scary).
On one hand it's a decentralized currency that they cannot control, it's heavily taxing the nation's power grid and they don't like that. But on the other hand it is bringing in the mula and encouraging economic activity amidst slowdowns.
Judging by Xi's almost bipolar behaviour for the past week no one's really sure if China will ban bitcoin or not, hence all the discussions. But then again rumors of the ban were circulating back when I first joined too (late 2013) so who knows.
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February 11, 2017, 01:41:43 PM
 #4

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

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

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February 11, 2017, 01:49:49 PM
 #5

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

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

On that topic it's really getting annoying, the general discussion page is just 50% newbies posting generic or controversial topics followed by a flood of people spamming the same message for their sig campaign quotas because they never bother reading beyond the OP. Bet those newbies are all alt accounts made for this purpose (sigdumping) *puts on tinfoil hat*. But yes, there are worse, still doesn't excuse them though
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February 11, 2017, 01:50:38 PM
 #6

probably they know some countries that do not accept bitcoin as money, and then they say such thing that bitcoin is banned in many countries without making sure the statement or look for more accurate information, or probably just lazy to read the same threads.
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February 11, 2017, 01:57:48 PM
 #7

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

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

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

so these naive people thought citizens were banned.

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

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February 11, 2017, 02:01:14 PM
 #8

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

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February 11, 2017, 02:02:01 PM
 #9

I think this is understandable for newcomers because there is still a lack of knowledge. Coupled with a lot of hoax news that mention bitcoin banned in some countries. I think this case the main problem. But if people who have long experience in the world of bitcoin say something like that, I think he has a specific purpose. Thank you
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February 11, 2017, 02:05:08 PM
 #10

"Bitcoin is banned in many countries"

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

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

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February 11, 2017, 02:38:21 PM
 #11

I think this is understandable for newcomers because there is still a lack of knowledge. Coupled with a lot of hoax news that mention bitcoin banned in some countries. I think this case the main problem. But if people who have long experience in the world of bitcoin say something like that, I think he has a specific purpose. Thank you
As to newbie maybe they were just curious about it that is why they were asking without reading bitcoin news regularly especially here in forum.
Yes! A lot of news saying that bitcoin was banned in some countries that is why  they are so confused, let us just understand and explain them so they will be enlightened.

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February 11, 2017, 02:47:31 PM
 #12

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

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February 11, 2017, 02:50:33 PM
 #13

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

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February 11, 2017, 02:54:09 PM
 #14

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

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

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

have fud being distributed by the media.  Angry

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February 11, 2017, 03:04:19 PM
 #15

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

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

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

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

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February 11, 2017, 03:11:15 PM
 #16

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

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

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

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February 11, 2017, 03:29:20 PM
 #17

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


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February 11, 2017, 03:33:42 PM
 #18

"Bitcoin is banned in many countries"

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

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

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February 11, 2017, 03:51:23 PM
 #19

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

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February 11, 2017, 04:34:36 PM
 #20

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

Here is the latest news from India,

Reserve Bank Of India Offers Cautionary Note On Bitcoin.

Reserve Bank of India won’t regulate virtual currency Bitcoin, yet [EconomicTimes].

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

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