Bolivia Bans Bitcoins!

[stompix]

So this is another episode from the China Thailand Russia have banned bitcoin?

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[Elwar]

So this is another episode from the China Thailand Russia have banned bitcoin?

Yes, same episode where none of them banned Bitcoin.

[pummle]

Bitcoin doesn't care, bitcoin will go on without them. They are only hurting themself by stepping out of the world economy.

People will still use bitcoins, the more governments fight against bitcoin the more irrelevant they become.

[gbooz]

Bitcoin doesn't care, bitcoin will go on without them. They are only hurting themself by stepping out of the world economy.

People will still use bitcoins, the more governments fight against bitcoin the more irrelevant they become.

I think, that authorities are realistic - there is no fight against the bitcoin. There is a wish to control it and to charge taxes.

[Ashbite]

Bitcoin doesn't care, bitcoin will go on without them. They are only hurting themself by stepping out of the world economy.

People will still use bitcoins, the more governments fight against bitcoin the more irrelevant they become.
yep.

[pummle]

Bitcoin doesn't care, bitcoin will go on without them. They are only hurting themself by stepping out of the world economy.

People will still use bitcoins, the more governments fight against bitcoin the more irrelevant they become.
yep.

Please use the "quote" feature when quoting blocks of text.

[gbooz]

Bitcoin doesn't care, bitcoin will go on without them. They are only hurting themself by stepping out of the world economy.

People will still use bitcoins, the more governments fight against bitcoin the more irrelevant they become.
yep.

I would not be overoptimistic/overenthusiastic. Bitcoin is part of the interconnected economy, so it  "care" about the trends in its ecosystem. And the exchange price deviations are the sign of it.

[Elwar]

Bitcoin doesn't care, bitcoin will go on without them. They are only hurting themself by stepping out of the world economy.

People will still use bitcoins, the more governments fight against bitcoin the more irrelevant they become.
yep.

I would not be overoptimistic/overenthusiastic. Bitcoin is part of the interconnected economy, so it  "care" about the trends in its ecosystem. And the exchange price deviations are the sign of it.

Then it is only perception since BOLIVIA DID NOT BAN BITCOIN

[smashingpumpkin]

Then it is only perception since BOLIVIA DID NOT BAN BITCOIN

Finally  Big letters definately help to get the point.

Bitcoin the unbannable!!!

[KonstantinosM]

The only way to ban BTC is to ban:

Computer networks
Devices capable of creating such networks
USB storage devices
paperwallets
and the human brain

It's extremely imipractical to ban bitcoin... Taxing it on the other hand!

Taxing could be very beneficial to governments they tax, they hold, they get a stake in the matter.

[CrackedLogic]

banks are not governments, they can't ban shit.

[Nerazzura]

Bank bans bitcoin!

Alert the media!

And what is Bolivia's stance on Bitcoin?

Virtual Currency bitcoin world spotlight due to controversial existence. Unfinished issues related validity as the official medium of exchange, now according to a study hasi titled 'Financial cyber threats in 2013' released computational security company Kaspersky Lab revealed that Bitcoin has a big hand in enhancing malware attacks.
The results of the study also mentions the number of large financial cyber crimes happening in Afghanistan, Bolivia, Cameroon, Mongolia, Myanmar, Peru, Turkey and Ethiopia. -
what do you think

[Nerazzura]

I though bitcoin banned Bolivia. 


This needs some clarification obviously but isn't a major issue either way. Bolivians will find a way to get bitcoin if they want it. This makes it more valuable there.

true, but Bolivia also need strong parties or institutions to support them in the achievement of bitcoin. if bolivia fend for themselves for it is not impossible but it is difficult and takes a lot of time

[BADecker]

http://www.coindesk.com/bolivias-central-bank-bans-bitcoin-digital-currencies/

From the article:

“It is illegal to use any kind of currency that is not issued and controlled by a government or an authorized entity.”

I suppose we should be shaking in our boots that an economic powerhouse like Bolivia is banning bitcoin... or something. But I see a few problems with their plan. For one, a number of other nations have declared that bitcoin is _not_ currency. But it is considered _property_.

So Bolivia's central bank might have to defend the notion that bitcoin is currency against an international climate that has not reached such a concensus and may be rejecting it. And if bitcoin is just property, how can you ban trading it? Seems to me you'd have a difficult time banning bitcoin trades without banning all property-property transactions (such as trading a hammer to your neighbor in exchange for baseball tickets).

Thoughts on how this pans out? Personally I suspect it just shows the weakness of their fiat currency and they are trying to shore it up.

On a side note, I wouldn't be surprised if Argentina announces similar moves. In fact I wouldn't be surprised if bitcoin had another run to the moon based on news today that Argentina expects to default on their next debt payment. A few weeks ago there was news that bitcoin traders were beginning to establish boots-on-the-ground in Argentina, that could enable them to provide desperate Argentines with an alternative to their oft-collapsing currency.

"Illegal" comes from a position of power. There are a lot of things in my life that I consider illegal. Yet, even though I don't do them, lots of other people do. I don't attempt to stop them because (besides that it wouldn't do any good) I allow freedom, as long as it doesn't harm me or damage my property... but even then a little, once in awhile.

If Bolivia has the strength to stop or control Bitcoin within her borders, great. Personally, I don't think she has that kind of power. If she is a true republic, then she doesn't really even have the authority to try. Same said with the United States.



EDIT: Remember your Pledge of Allegiance. "... and to the REPUBLIC for which it stands ..." The United States is a republic, not a democracy.

[franky1]

if banks had the desire to prohibit individuals and businesses from using bitcoins.
if banks had the had powers to make laws to prohibit individuals and businesses from using bitcoins.
if banks had the an easy way to get government to make laws to prohibit individuals and businesses from using bitcoins.

then

banks would not be announcing that they wont touch bitcoins, baked beans or whoppers, only FIAT...
instead they would have made the laws that you tin foil hat wearing, government hating conspiracy theorists are fantasizing about.

but

they have not..

so move on with your lives, there is nothing to see here. bolivia has not banned bitcoins!.. end of

[unpure]

Is there any country out there that actually support bitcoin?

[Bit_Happy]

Visa and Mastercard have also banned sending bitcoins over their networks.

McDonalds has banned all Whopper sales!

What?
A Whopper with McDonalds fries sounds almost good right now. 


<"Bolivia Bans Bitcoins!">
@OP are you going to change the title to be more accurate?

[Dr. Sekxy]

TIL there's a country called Bolivia

[ebliever]

<"Bolivia Bans Bitcoins!">
@OP are you going to change the title to be more accurate?

If it was unambiguously wrong I'd do so. However:

1. The notion that Bolivia did so is clearly expressed in the Coindesk article.
2. It's unclear what relationship the Central Bank of Bolivia has with the government - as others have noted, their pronouncements may extend no further than their own operations. Or they may be backed up by the full force of the civil government with all that implies. I just don't know either way at this point.

My reason for posting the OP was not to have people blindly swallow it (I wouldn't expect the crowd around here to do so anyways), but to chew it up, toss it around and gain a better collective understanding or at least clarify the uncertainties.

[ajareselde]

<"Bolivia Bans Bitcoins!">
@OP are you going to change the title to be more accurate?

If it was unambiguously wrong I'd do so. However:

1. The notion that Bolivia did so is clearly expressed in the Coindesk article.
2. It's unclear what relationship the Central Bank of Bolivia has with the government - as others have noted, their pronouncements may extend no further than their own operations. Or they may be backed up by the full force of the civil government with all that implies. I just don't know either way at this point.

My reason for posting the OP was not to have people blindly swallow it (I wouldn't expect the crowd around here to do so anyways), but to chew it up, toss it around and gain a better collective understanding or at least clarify the uncertainties.

in the end, noone even cares about Bolivia.
north korea threats with nuclear strike, noone cares coz its funny, same thing with bolivia baning btc.
we just dont care about any of that.