Iran bans Bitcoin too

[perfect999]

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?

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.

[1714810309]

1714810309

[1714810309]

1714810309

[1714810309]

1714810309

[1714810309]

1714810309

[Rono]

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.

[Naficopa]

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.

[JohnBitCo]

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.

[PonZZ]

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. 

[bryant.coleman]

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?

[grabpopcorn536]

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.

[mrongoz22]

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 ..

[iTradeChips]

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.

[Vishnu.Reang]

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.

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.

[Yamifoud]

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.

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.

[molsewid]

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.

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.

[BETTY B]

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

[grabpopcorn536]

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.

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.

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.

[Vishnu.Reang]

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.

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.

[capcaypro]

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

[terrorJR]

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

[tabas]

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

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

[Nunoluck]

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.

[ReiMomo]

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.