Iran bans Bitcoin too

[CryptopreneurBrainboss]

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.

[samsul1234]

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?

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

[imstillthebest]

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

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 .

[Kelvinid]

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).

[aysg76]

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.

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.

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?

[acener]

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.

[bitterguy28]

I expected more negative news to arrive ever since BTC drop down,

Actually the news comes  even the price or market dumps so this is not the same issue.

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.

Depend on how you looks at it , and how you dealing with it.

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.

Manipulating mate , that's what is happening .

[humanvelocity]

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.

[ropyu1978]

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

[Renampun]

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?

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.

[Shasha80]

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

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.

[hitsnorth]

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

[btc-room101]

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.

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.

[supine]

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.

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,

Thank's for clarifying the issue about Iran Ban.

[btc-room101]

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.

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.

[nightxglow]

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.

[snipie]

Misleading title of the topic.
-snip-

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.

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

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.

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.

[pixie85]

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.

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

[nhaila]

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.

[sapnu]

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.