This is one of the gimmicks of government to kill Bitcoin and we hope to see how this will work out. Government want to control bitcoin but it will not work.

Is this another reason to stop believing in bitcoin or crypto as a whole? LOL, I always laugh at those news, even those are legitimate news, the effect to the bitcoin community is so small that the price wont even dip more than 10%. If the country state is a huge country with a huge crypto investors like US, China or Japan it could have a huge effect in the price. But until not all country ban bitcoin, the bitcoin will still continue and could even be more prosperous. I think their government just want to create their own coin and stopping current crypto transaction is a beneficial step.

I think that statement is only for payment purpose, and if we trade bitcoin, i think its should be fine. Many central bank in the world ban bitcoin if used for payment purpose but they can not ban if bitcoin used for trading

So that's why they ban bitcoin because they want to control bitcoin. We can blame them because that is their decision to protect their currency and their people but I think they need to consider the benefit that people will get in bitcoin.

This is very old news, But it is not suitable for Bolivia. Because, the world is moving forward using Bitcoin.

To me, the most scary thing about this is that some cou tries might just be led on by the actions of the other first world countris. While China and some other of the notable countries have been busy in their efforts on banning and completely trying to shut down cryptocurrency in their borders. This is a big change to what we are used to seeing as the third world countries dont even stand a chance as they are just copying or imitating what their actions are setting

Someone update him or her the status of Bitcoin and altcoin in Bolivia since his or her problem was before, I think most of the country now is opening little by little with Bitcoin and that makes me happy to see some people and more people are coming to invest in our crypto world.

I do not really understand the background and the exact reason the bolivia government banned the use of bitcoins. but as a third world country, their decisions and regulations will not have a significant effect on bitcoin markets and communities. the decisions of developed countries are more of a concern, because basically when developed countries start receiving bitcoin, developing countries are slowly starting to believe and follow it.

This is a minor speedbump and i dont think it'll have much impact.

Yes, I heard this news last year, The country government and central bank are very scared that they will lose the control and power by allowing Bitcoin and cryptocurrency.
Bolivia services industry is still underdeveloped and Inhabiting one of the poorest countries in South America, the government had to take this step.