Ukraine bans fiat currency

[Elwar]

I'm not sure 100% on the translation but does this mean that all fiat currencies have been banned in Ukraine?

The fiat currency Hryvnia can not be used in Ukraine as a means of payment on the Bitcoin network.

Reported official representative of the Bitcoin Network of Ukraine (BNU) on Facebook.

According to the regulator which has to ensure real value based on math, fiat currencies are "money substitutes."

Also, the Bitcoin Network of Ukraine stressed that the international payments using Hryvnia has made "this category of services attractive to illegal activities, including money laundering of crime or financing terrorism and war".

"In order to protect consumers' rights and security of the money transfer Bitcoin Network recommends that you use the services of only those payment systems, settlement systems, which are included in the blockchain, Bitcoin network,  and Bitcoin payment infrastructure" - the representatives of the regulator

http://www.coindesk.com/bitcoin-foundation-ukraine-central-bank-warning-isnt-ban/

[solomon]

The fiat currency Hryvnia can not be used in Ukraine as a means of payment on the Bitcoin network.

Confusing. I'm guessing that they mean you are not allowed to buy bitcoin with fiat?

[Elwar]

The fiat currency Hryvnia can not be used in Ukraine as a means of payment on the Bitcoin network.

Confusing. I'm guessing that they mean you are not allowed to buy bitcoin with fiat?

No, you cannot send fiat currency over the Bitcoin blockchain.

[Febo]

I think if you will find out what Hryvnia is you will find out what they talk about.

[Q7]

Could be misinterpreted. Probably what they mean is totally different. If they don't accept fiat currency in Hryvnia doesn't mean that they won't accept payment in other fiat currency to convert to btc. Euro should be the choice.

[Elwar]

Could be misinterpreted. Probably what they mean is totally different. If they don't accept fiat currency in Hryvnia doesn't mean that they won't accept payment in other fiat currency to convert to btc. Euro should be the choice.

I'm pretty sure the euro is not accepted on the Bitcoin blockchain either.

[Meuh6879]

20% of inflation ... run to bitcoin, ukranian people ! 

[Ron~Popeil]

You would think they have bigger fish to fry over there than bitcoin vs fiat issues. Like protecting their consumers from the Russians.

[Meuh6879]

war is not made by people ... but by army (or terrorist ...).

[LiteCoinGuy]

Could be misinterpreted. Probably what they mean is totally different. If they don't accept fiat currency in Hryvnia doesn't mean that they won't accept payment in other fiat currency to convert to btc. Euro should be the choice.

I'm pretty sure the euro is not accepted on the Bitcoin blockchain either.

no, bitcoin only 

[newIndia]

I think if you will find out what Hryvnia is you will find out what they talk about.

1 Ukrainian Hryvnia equals 0.063 US Dollar

[Zer0Sum]

You would think they have bigger fish to fry over there than bitcoin vs fiat issues. Like protecting their consumers from the Russians.

Actually, the hryvnia is the 3rd worst performing currency of 2014...
With the #1 spot held by Bitcoin... which is down from $800 to $300 or > 60%.

This forum should pull it's head out of the sand... and be asking HARD QUESTIONS about Bitcoin...
And why it's performing like the currency of a bankrupt country invaded by Russia.

[lyth0s]

You would think they have bigger fish to fry over there than bitcoin vs fiat issues. Like protecting their consumers from the Russians.

Actually, the hryvnia is the 3rd worst performing currency of 2014...
With the #1 spot held by Bitcoin... which is down from $800 to $300 or > 60%.

This forum should pull it's head out of the sand... and be asking HARD QUESTIONS about Bitcoin...
And why it's performing like the currency of a bankrupt country invaded by Russia.

Bitcoin has one year were its price declines and people think this shit is dead. If you think cryptocurrency or bitcoin is going to disappear you need to pull your head out of the sand. Such a small timeframe and picture perspective.

[Vessko]

I'm not sure 100% on the translation but does this mean that all fiat currencies have been banned in Ukraine?

What translation? There is nothing in the article you referenced (or in the links referenced by it) that says anything even remotely similar to the above.

[LiteCoinGuy]

I think if you will find out what Hryvnia is you will find out what they talk about.

1 Ukrainian Hryvnia equals 0.063 US Dollar

or 0.00019744 BTC or 197.393 bits.

[rz20]

Sure and then they went 100% bitcoin and we became millonaries.

[countryfree]

Ukrainian's currency is holding its value better than the Russian ruble, and that's something Ukrainians can be proud of!

http://finance.yahoo.com/echarts?s=UAHEUR=X&t=5d&l=on&z=m&q=l&c=

BTC is another matter, and I guess the average Ukrainian has more urgent worries than to deal with it. Sadly.

[BitcoinHeroes]

Is there not any translaters that can translate this?

[Wary]

Is there not any translaters that can translate this?

The text of the document is confusing. It sounds as a standard warning, but it also mentions that any other money and "money surrogates", including bitcoin, are forbidden in Ukraine. However, there is no mentioning of any penalties for it's usage, just words that the central bank takes no responsibility for any bitcoin-caused losses.

[exoton]

Ukrainian's currency is holding its value better than the Russian ruble, and that's something Ukrainians can be proud of!

http://finance.yahoo.com/echarts?s=UAHEUR=X&t=5d&l=on&z=m&q=l&c=

-snip-

even still there are a lot of risks to holding either the Russian Rubble or the Ukrain currency as they are both doing very poorly as of recently, and signs point to likely further declines. Both declines have primarily happened in the past few months, with declines accelerating in recent weeks.