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Ukraine Central Bank Bans Bitcoin "To Protect Citizens" From Financing Terrorism
The Hryvnia has collapsed to new record lows near 15/USD this morning. The Central Bank and bankers "agreed to keep UAH at 15-16/USD" but are "not planning on new FX market restrictions." However, there is one terrifying 'currency' that needs to be curtailed... Bitcoin. As The National Bank of Ukraine explains, "In order to protect consumers' rights," the virtual currency Bitcoin cannot be used in Ukraine as a means of payment.
With the UAH hitting new record lows...
The Ukraine Central Bank has decided the ban Bitcoin...
The virtual currency Bitcoin can not be used in Ukraine as a means of payment.
Reported official representative of the National Bank of Ukraine (NBU) on Facebook.
According to the regulator which has to ensure real value, virtual currencies are "money substitutes."
Also, the National Bank of Ukraine stressed that the international spread payments using Bitcoin has made ??this category of services attractive to illegal activities, including money laundering of crime or financing terrorism.
"In order to protect consumers' rights and security of the money transfer National Bank recommends that you use the services of only those payment systems, settlement systems, which are included in the register of payment systems, settlement systems, participants in these systems and service providers payment infrastructure" - the representatives of the regulator.
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Because there's nothing worse than your citizens having free reign to transfer the collapsing value of their Hyrvnia into a non-Hyrvnia alternative... especially when The IMF has leanty you money.
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Can you imagine how much safer they feel?
Buy gold.
It's the only way to be sure...
Bitcoin users affected?
Bitcoin users affected?
Shit no. They'll ignore this and use a currency that works for buying food.
This further legitimize the need for alternative currency options and crypto overall for transactions. Buy gold for wealth preservation.
Well said.
The idea that BTC and gold are oppositional is nuts.
HO LEE FOOKING BITCOIN!!!
SATOSHI WE LOVE YOU!!!
Telling that both sides of the conflict have now outlawed Bitcoin... TPTB are scared to death of cryptocurrencies.
lol, how in the world will they enforce this? is it even possible lol?
This is the greatest news ever for Bitcoin! Because it will show that government is totally impotent against Bitcoin. Government just can't get it up!
BC it just doing great, huh? Into the f'n $300s now. . .
Yes it is it's at $370 USD and who the fuck cares if it is $300, $3000 or $30000? Just buy more, nobody owns the world's most powerful currency.
Who cares? If/when the "world's most powerful currency" buys less than a Beanie Baby - the poor fuckers holding the bag are going to care.
Right now you've got a valuation history that's following a classical Bell Curve. Tulip anyone?
The old tulip argument. Bitcoin has utility contrary to the tulip bulbs.
Before you spread nonsense you should educate yourself a bit.
Same type of moron who said the internet was "a fad" in 1994.
The bag holders this time are going to be anyone left with paper currency...
Bitcoin was $1 five years ago.
Yes - and the smart money got the fuck out North of $1k.
Smart money or panzies who didn't know what BTC was in the first place? You recommend people to go into "dollars"? You are working with the enemy then....
Who said anything about dollars? I'm converting USDs into tangable productive assets as fast as I can.
Still $75 higher than last year at this time
Yeah.
And $800 lower than last December.
So what, it still buys $300 plus worth of stuff. If you are using it as money and not as a store of wealth it does the job fine. You looking for a magic investment asset to put down and watch increase your purchasing power (that's 100% sure); let us know when you find it.
To put that in perspective, I wrote and published an article about this topic for Bitcoin Magazine. Fitting for this conversation.
You might enjoy it!
http://bitcoinmagazine.com/18103/bitcoiners-prepare-for-these-words-i-sh...Gold is great for local trade and storage. What happens when you want to pay someone in another city or country? There goes your "no counterparty risk" ie, the mailman.
There is no way to be sure of anything. Gold is the surest in an increasingly unsure world. Diversify and shelter all kinds of productive assets you can manage yourself, including gold.
Ukrainians, buy London real estate! Like your masters. For example:,
"Britain's previous record for an apartment was set three years ago by Ukrainian billionaire Rinat Akhemtov, who paid 136 million pounds ($247.8 million) for a penthouse and apartment at One Hyde Park to knock together into one property."
Substitute the word "freedom" for "terrorism" and your news reports will make a lot more sense.
Wait, does this mean they will ban us dollar too? After all, lots of terrorists are financed with USD...
Rise of LTC?
I want to move to Ukraine now to feel some of that protection, like a warm cuddly blanket.
Yeah, like the protection you feel when you "voluntarily" pay to be in a protection racket.
"the virtual currency Bitcoin cannot be used in Ukraine as a means of payment."
Implying there are goods to buy. May blessed Putin liberal these heathens with the quickness.
he will be blessed in a NUCLEAR FIRE, if he does... Putin is a clown
How stupid are you? You think the U.S. will launch a nuclear attack over Ukriane? You think a nuclear attack would go unanswered?
You can think of Putin what you like, but if a clown, he is very dangerous one, and when he acts, you may find he really isn't very funny.
Implying there are goods to buy.
As long as there are farmers, there are goods to buy.
BTC, BTChez
Good luck enforcing the ban.
"Good luck enforcing the ban"
Thats correct, and good luck buying a pig hock from the hairy butcher wearing the bloody apron and knife belt with a explaination of Gonecoin.
Lemme guess, your special right?
Looks like a virtual standoff.
Gentleman at ten paces and pull your virtual weapons. "pew,pew"
Why is that simpletons hate btc the most? :)
Because its easier for them to yell "bitchez" than to apply themselves to learn anything. The currency debasement war is happening, and the whole WORLD is going to see what happens when every major power is gunning for the core of the planet as a price target for their currency.
Bitcoin is going to survive this, largely because it isn't run by a bunch of power-hungry idiots. But naturally, the fuckers here who thought Ebola was going to wipe out everyone by Thanksgiving, have no way to comprehend the forces at play, much less devise a strategy to succeed.
IKR? I ban thieving banksters from doing business.
Russian Rubles for the win.
UNFUCKINGBELIEVABLE!
Incidentlly; Central Banking "Is" Financing Terrorism / Fact
Political rule #1: Truth? What the fuck is that?
Political rule #2: The more bullshit the better. Confuse the suckers at all times.
#2 FTW
https://www.youtube.com/watch?v=G790p0LcgbI
Nothing like blowing smoke up the American voters ass...
Central Banking "Is" Terrorism
FIFY
Fascists in power there ...what do you expect !!
Ahhhh... But they haven't banned my SuperMegaBlasterCoin (generated real-time on my Android phone by my uncrackable algorithm). Please send $200/token (cheap, Cheap, CHEAP!!! bargain prices) to me and I'll...
Isn't it great being able to get rich speculating on methods of payment by vaporware?
Long live pretend money!!! Long live the FED!!! Generate/print away!!! </s>
I'd be buying silver like crazy. Who cares if it goes down 10% in a year. That piece of shit currency lost almost half of its value in a single year.
I am buying silver like crazy. There, fixed it for you.
Smart Ukies would have already bought USDs.
Its gonna get pretty interesting around here when the bankerz boyz in Congress decide to ban precious metals trading altogether "for our safety"
I spent a week in Kiev in 2005. The exchange rate was about 8 to 1 then, as i recall. I thought things were cheap then.
Good grief, 15 to 1. You could buy 2 Ukranian brides for the price of 1! Sweet!
Bitcoin Last Price $379 and climbing.
Totally awesome!... Oh, unless you bought Bitcoins when they were $1,242.
Wow.... MUCH worse than the Gold/Silver fall.
If we could go back to 2009? We would buy silver instead of Bitcoin? We are fucking idiots if we bought silver instead of Bitcoin.
Anyone who buys before something hits the market has a long shot at making big money. How well have all of the people done who have put everything into the Bitcoin alternatives that have failed? Very hard to make big gains on zero.
Think of btc as liquid money you need to use in trade or as an escape mechanism when nations try to use restrictions to trap you to their fiat. Any money, including gold, silver and btc is always somewhat speculative when held for the purpose of capital gains appreciation cause there is no sure way to know which way the wind will blow about what will become mainstream money. Bitcoin could exceed $1000000 usd per coin or hang around $300 to $400 for years while seeing increasing trade velocity, who is to know? It can also be somewhat manipulated because TPTB can slow buy and fast sell to supress prices, but with increased btc use their ability to move price will be overwhelmed. Every underground business that conducts trade in btc or any specie money is conducting true free enterprise and dealing a blow to the NWO club.
lol
Hey Ukraine, thanks for the bump in BTC price, however we need moar!!! Please give us a use case to proscute so other UKraines's can see how their cunsumer rights are violated...ha ha
This is interesting
actions of the head of the United Jewish Community of Ukraine, Igor Kolomoysky
With Jews we lose
With Kolomoisky we get his private nazi army shooting down a Malaysian passenger jet and trying to blame it on the Russians or Donbass militias.
It doesn't rhyme, but reality seldom does.
Ukranian comrades! We are from the government and we are here to help, bitchez!
This is pretty much exactly how the Bitcoin story is going to play out with all other fiat countries in the world... Until it's banned everywhere and everyone is using it.
Just imagine governments trying to collect taxes when nobody earns income in their fiat currencies anymore.
Yet more evidence that "Government" and "Fair Monetary Policy" are antonyms.
I always thought of Bitcoin as not such a good idea.
I'm starting to change my mind...
What is the source for this? As central banks are not granted authority to make law.
This is a non-story. Bitcoin isn't recognized anywhere here. Gold is priced well over the NY close; about $1300/oz, and few banks have it. The Russian invasion has certainly sowed fear, uncertainty and doubt.
Bitcoin goes up. So more the ban, the better.
To protect the citizenry...or to protect the banking cartel from the citizenry?
Ukraine Central Bank + "protect the citizens" = dog poop
de facto currency in Ukraine is USD
In Ukraine the USD is illegal as much as Bitcoin if used for payments, line in Russia.
In Ukraine the USD is illegal as much as Bitcoin if used for payments, line in Russia.
Sounds a lot like Bernard Von NotHaus whom the Feederele Attorney called a domestic terrorist for serving up real money.His crime so great even the SPLC got involved?
Convicted of counterfeiting even after the mint, a few years before said there was no problem with the coins. Some supposed ancient civil war law in 1871 that says competing with the dollar is illegal. . The Feederele's said amerikans could not distinguish between the two because they were..... round. Now I agree most amerikans are probably too stupid to see the difference but counterfeiting! Gimme a break.
I laugh everytime when I read articles or comments concernng real money especially circulated by "alternative news sites" or commenters on those sites. Not one of them turned up at his trial and he still is not sentenced going on four years.
I have read more defense of Bit Coins than ever the Liberty Dollar. And Mr. Ron Paul is a real treat. Would not go to Mr. NotHauses trial as a character witness even after NotHaus made a Ron Paul coin. Didn't want to tarnish his image I imagine. Then after the trial he suggeses making alternative currencies legal.... never pushed it. Now, everywhere, again, one hears about is alternative currencies.
When there was one many laughed and scoffed when it was shut down and looted by the Feederele's
Why would anyone be stupid enough to start up another?
start up another? you mean bitcoin?
with bitcoin there is no central point of failure, no one issues the currency, there is no website to shut down, no office to raid.
Well, Bitcoin is designed to be practically unstoppable. Moreover, there have been speculations that one of the reasons the author decided to publish his work under a pseudonym could be that he wanted to avoid similar persecution.
Bernard Von NotHaus' persecution is indeed very worrying and unacceptable. Anyone who stands for private property and non-aggression should offer him support, if possible. I think the right thing to do (including by NotHaus himself) is to defend outside of the courts that have proven their subordination within the centralized government. If I remember correctly, some of NotHaus' money was stolen by the government and not returned, so that should be demanded back, too.
Bitcoin/Bitcoin/blockchain haters:
Some thoughts:
Personal computers will be used for more than storing recipes and there will be more than just a few in use (ask Gates and IBM)
The earth is not a flat as your heads
Fiat is debt and no difference how many wars are contrived to defend it, fiat will continue to become more worthless with each passing year
There are not 400 trillion BTC derivatives trying to infest the next victim
You can't trust the government(s) or their financial overlords, although I can see how you would.
BTC technology is open source and relatively secure when implemented properly
2/3rds of the world have no access to banking "services" (financial rape), but many can gain public access to an Internet terminal
With BTC anyone can transfer the FRN equivalent of $1.25 ( or any amount) to Someone in Argentina or Singapore, or Luxembourg without the "services" of a Bankster.
Crypto will eventually be adopted by the Global Financial Thuggery -- check JPM patents.
What part of diversify did you not understand?