Iran bans Bitcoin too

[Mpamaegbu]

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?

[Lorence.xD]

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.

[Jawhead999]

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.

[hosseinimr93]

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

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

[newwest]

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.

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.

[Henrobakkara]

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?

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. 

[LoyceV]

AFAIK Iran bans Bitcoin mining

The reason for the ban is the energy shortage, partially caused by Bitcoin mining. 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.

[Zilon]

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.

[DaveF]

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

[Mpamaegbu]

AFAIK Iran bans Bitcoin mining not bans Bitcoin itself...

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

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

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.

[acroman08]

I believe FUD should be a major factor why Iranian government had to make this decision on banning crypto.

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.

[20kevin20]

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.

[int03h]

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.

[stompix]

I believe FUD

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.

The reason for the ban is the energy shortage, partially caused by Bitcoin mining. The same article claims that most of the Bitcoin mining happens illegally, so I'm curious if the ban is going to help.

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.

[ultrloa]

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?

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.

[buwaytress]

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.

[Vishnu.Reang]

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.

[Fundamentals Of]

Do you think this ban from Iran is another FUD?

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.  

[Bitstar_coin]

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 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.

[cabron]

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.