Brandon answered in another thread:
"There are 2 types of Banned Hashtags.
Full Ban: When ZERO results appear
Half Ban: When only the Top Posts appear. (With the occasional Latest Post)
There is never a point posting Full Ban hashtags.
As for Half Ban hashtags, they are one of my favorite for higher authority IG accounts.
WHY ON EARTH WOULD YOU USE HALF BAN HASHTAGS?
Great Question! If your pictures are getting 500+ likes, 5+ comments and your accounts are growing at a good pace 100+ Followers/day your pictures have a good chance of being featured under the Top Posts section. Think about it... the competition is low so its easier to get featured, and second, there will be only 9 pictures under that hashtag so the chances of your picture being seen is much higher.
I dont recommend using all 30 Half-Ban hashtags, but a few will make a positive difference."