Iran bans Bitcoin too

[iTradeChips]

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? 

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.

[1714840527]

1714840527

[1714840527]

1714840527

[Prettyjing34]

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

[Sithara007]

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.

[Xinarae*]

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.

[secretgirl]

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?

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.

[zanezane]

This Ban Can't Stop Users To Use Bitcoin, Still Users Will Use Bitcoin, they will Find Another Way And Will Start Using Bitcoin

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.

[snipie]

Me too, didnt find details about Iran ban of btc. Speculations only maybe, cos I dont see confimation yet.

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.

[Vishnu.Reang]

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.

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. 

[iTradeChips]

Me too, didnt find details about Iran ban of btc. Speculations only maybe, cos I dont see confimation yet.

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.

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.

[mrongoz22]

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

[todiefor17]

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.

[BITCOIN4X]

This Ban Can't Stop Users To Use Bitcoin, Still Users Will Use Bitcoin, they will Find Another Way And Will Start Using Bitcoin

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.

[capcaypro]

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.

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.

[ropyu1978]

Me too, didnt find details about Iran ban of btc. Speculations only maybe, cos I dont see confimation yet.

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..

[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.

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.

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.

[tabas]

Me too, didnt find details about Iran ban of btc. Speculations only maybe, cos I dont see confimation yet.

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..

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.

[Hypnosis00]

Me too, didnt find details about Iran ban of btc. Speculations only maybe, cos I dont see confimation yet.

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..

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.

[tabas]

Me too, didnt find details about Iran ban of btc. Speculations only maybe, cos I dont see confimation yet.

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..

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.

[Bitcoin-Eco]

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

[Sithara007]

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.

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.