Topic: bitcoin banned - page 4. (Read 651 times)
How can they ban an asset or currency that is not in their control?They can ban it from publicity but as long as bitcoin is alive it doesn't matter. It is decentralize and it will continue to grow but I think it somehow affect the market.
indonesian goverment banned bitcoin, affect the bitcoin price of the world ?
Nope. Bitcoin, in it's early days and even up to now, governments and financial institutions have tried to kill it for the longest time and have failed several times over and over again.
It's like trying to shutoff the internet. Nobody can do it once it has been unleashed.
I think it will affect the market. I'm totally sure that the price of BitCoin will be back to its true price, which is higher than it is at the moment.
Then you think the real price will be how much? I feel will have an impact, but the impact will not be so big.
Any ban in general might have some sort of effect "Short term" If anything I still feel like bad publicity is still good publicity as when bitcoin gets banned the people are left wondering "Oh, what is bitcoin anyway?" and even if it were to have a small effect on the price the price is almost guaranteed to recover as we have seen with other countries banning bitcoin.
If we can philosophize a bit, what is it really a digital currency? Because the official definition of the government of the Republic of Indonesia does not exist when this article was created. We take the closest definition according to Law no. 7 Year 2011 Article 1 Paragraph 1 which writes, as quoted "Currency is money issued by the Unitary State of the Republic of Indonesia hereinafter referred to as Rupiah." And if combined with Law no. 23 Year 1999 Article 2 Paragraph 2, as quoted "Rupiah currency is a legal means of payment in the territory of the Republic of Indonesia". Of the two definitions of cryptocurrency is certainly not official because it is not issued by NKRI and not a legal means of payment.So the impact of a bitcoin ban on a country can be said to defend its own currency, in the presence of bitcoin they may fear the price of its currency is not worth anymore.
I agree. But you are specifically talking about the national currency of the Republic of Indonesia. It is going to be Rupiah, the one agreed to be the official legal tender of the nation. With such basis, Bitcoin will of course find itself a total stranger. It is because Bitcoin is not a currency as we understand it traditionally. It is some kind of revolution in the payment system. It is even something that is against the way the world is working right now so how can it be in any way protected by law?
They are banning something that they cannot ban. Besides they have not expressed their desire to ban Bitconnect. That is the highest form of absurdity in this case.
indonesian goverment banned bitcoin, affect the bitcoin price of the world ?
Maybe it will affect the price a little bit that's why bitcoin price is now dropping, but as what I notice it is still prove itself and still on its average price so I think there is nothing to worry about that. I think it will affect the market. I'm totally sure that the price of BitCoin will be back to its true price, which is higher than it is at the moment.
Then you think the real price will be how much? I feel will have an impact, but the impact will not be so big. indonesian goverment banned bitcoin, affect the bitcoin price of the world ?
Of course not, Indonesia is a big country with a big population but not many people use bitcoin there and there is not a significant amount of exchanges where a lot of money is moving, taking that into account, I do not think we are going to see any kind of big crash or anything, most traders will keep their daily routine and will keep trading as usual. I think government can only impose laws and regulations to bitcoin users but not to ban the bitcoin because bitcoin is decentralized,it is totally freedom and government can't hold it. So bitcoin will continue to grow as long as people still believe in bitcoin.
I think so, Indonesia is not really prohibiting the use of bitcoin just trying to enforce regulations in order to prevent illegal use that can harm the country, they do not forbid anyone to use bitcoin, the freedom of everyone to act in accordance with their wishes, but with the existence of the rules can curb his society, and the effect on price changes I suppose is just a small scratch does not really impact on the serious decline
I think government can only impose laws and regulations to bitcoin users but not to ban the bitcoin because bitcoin is decentralized,it is totally freedom and government can't hold it. So bitcoin will continue to grow as long as people still believe in bitcoin.
Indonesia probably thought that bitcoin is a threat in some ways and trying to warn their people about it, still I believe its affect on the price of bitcoin is just a scratch.
China tried that before, it affected the price of Bitcoin for the few days then it bounced back. So not too much to worry about when Indonisia banning it to be honest.
indonesian goverment banned bitcoin, affect the bitcoin price of the world ?
\If cryptocurrency will work in Russia, China, USA, Japan and Europe, like now - cryptocurrency will never die.
Indonesia is simply not large enough to affect bitcoin's price somehow. I think if whole Europe banned bitcoin then we would see price's difference, but not now... It is silly that they are banning bitcoins though. Is there any reason why?
as long as Bitfinex through Tether are pumping fake money into BTC or other e-currencies, you won't see any price's difference.
indonesian goverment banned bitcoin, affect the bitcoin price of the world ?
\If cryptocurrency will work in Russia, China, USA, Japan and Europe, like now - cryptocurrency will never die.
Indonesia is simply not large enough to affect bitcoin's price somehow. I think if whole Europe banned bitcoin then we would see price's difference, but not now... It is silly that they are banning bitcoins though. Is there any reason why?
indonesian goverment banned bitcoin, affect the bitcoin price of the world ?
On the contrary, the banning of bitcoin will only make it more popular globally. From what I can tell according to a Google search, the Indonesian central bank and government have been very hostile to bitcoin and are trying to ban cryptocurrencies. This will have the effect of depressing economic growth in the nation.
If they ban in Indonesia then its their own loss honestly. China banned bitcoin and thr people suffered the losses.
According to my knowledge bitcoin will never banned.Indonesia alone can't affect the bitcoin, Indonesia doesn't really occupies any major share in the world of bitcoin.
indonesian goverment banned bitcoin, affect the bitcoin price of the world ?
With this kind of news the government forbids bitcoin, then the price of bitcoin today is indeed declining dratis. So friends bitcoin players then do not feel disappointed with the existence of firal as done by the government. indonesian goverment banned bitcoin, affect the bitcoin price of the world ?
Indonesia doesn't really occupies any major share in the world of bitcoin. Rupiah trading with bitcoin isn't a very common scenario. So I highly doubt whether this will affect bitcoin on a global level. But yes its quite astonishing to see ho these small countries keep on banning bitcoin. Jump to: