Topic: Indonesia bans Bitcoin - page 5. (Read 1389 times)
I believe any third world countries banning Bitcoin will not affect the price so much, but I believe its really bad for the Bitcoin ecosystem. the uneducated will think Bitcoin is bad because of government banning, while the truth is a really different perspective.
They have to rethink about Bitcoin and Crypto Currencies as a lot of people involved in making money from Bitcoin. Banning will surely make their livelihood disappointment. but to slightly help the economy of its people, bitcoin may be one option.
Bitcoin and other crypto-currencies are already forbidden to be banned. Too many rich and powerful people use this money. I think the issue of legalization will soon be resolved in most countries.
Sooner or later, they will rethink their attitude towards bitcoin. Together with the adoption of the cryptocurrency by other states, everything will change exactly and they will have no choice.
Because Bitcoin transactions are peer-to-peer and cost-free, Bank Indonesia is also concerned that bitcoin will be used to raise money for terrorist activities, money laundering, drug trafficking and more.
hallo, indonesian here, my country is not banned bitcoin, what is meant by our government is bitcoin is prohibited to be used for payment transactions, but if in the form of investment still allowed only be own responsibility
Nice to hear these kinds of clarifications because it can lessen the spread of FUD's. Actually the government can banned anything not just Bitcoin but they can't actually stop it, people will always make ways to gain access.
hallo, indonesian here, my country is not banned bitcoin, what is meant by our government is bitcoin is prohibited to be used for payment transactions, but if in the form of investment still allowed only be own responsibility
Maybe they just won't accept bitcoin for daily transaction for now.
But maybe in the near future they'll consider using it legally.
And maybe, they did not prohibit collection or it is not unlawful to collect bitcoins in their country. However, they ban the use in day to day trade.
Hopefully they will open it for those purposes someday..we'll never know
But maybe in the near future they'll consider using it legally.
And maybe, they did not prohibit collection or it is not unlawful to collect bitcoins in their country. However, they ban the use in day to day trade.
Hopefully they will open it for those purposes someday..we'll never know
They have banned bitcoin to eliminate it from payment system services that use virtual currency as the process as well as they were encouraging the companies not to work with any parties that facilitates with the currency transactions, they were just so afraid that bitcoin will eat and supersede their financial institution system.
as long as the gov didn't ban internet, I think there won't be a problem for me. Beside that I think in that news the gov just banned it as a payment.
Well. we never know. after all they are still the governments and they have the power to ban or unban but i think it won't last forever they would change how they see the bitcoins, nothing is permanent. As of now, we live in a world full of technology, through technology everything is impossible so it's not impossible if our real money would become a digital money right.
As far as I know, our gov't doesn't ban bitcoin. It's only forbidden to use for transaction instead of using IDR (Rupiah) because if it does, then why they don't ban the local exchange?
Indonesia to ban Bitcoin transactions next year Bitcoin is a digital currency designed to obscure the identities of the people using it.
on a rather unrelated news, i think bitconnect also operated in several cities in indonesia and managed to get quite a lot of members. with bitconnect scam going busted and all, it doesn't help the cryptocurrency community here in indonesia. and BI will certainly warn more strongly against the usage of cryptocurrency in general.
as long as the gov didn't ban internet, I think there won't be a problem for me. Beside that I think in that news the gov just banned it as a payment.
Indo is not the only country banned bitcoin. in our country. Bitcoin is not recognized. They do not accept bitcoin as merchandise. and can not be exchanged.
USA banned Alcohol too, that didn't work either. lol
I suppose people of Indonesia will go on dealing with Bitcoins and trading. The latest news says that BTC holders in this country go on selling and buying crypto.
https://borneobulletin.com.bn/life-goes-on-for-indonesian-bitcoin-traders-despite-stricter-rules/
It's strange. Who does not like bitcoin in Indonesia? I thought they were good at crypto-currencies
It is not that they do no like bitcoin but the threat of it to the country's economy are the reasons. I think that is reasonable since bitcoin is really volatile and if a lot of people are holding bitcoin, that will be also affecting the economy of the country. I just hope our country do not do the same thing since a lot of people in our country are starting to know and use bitcoin. If you want to read more about Indonesia, here is the LINK.
I have said before, that while government may place a ban on cryptocurrency, It may not deter some top officials or some big shots to do their crypto trading quietly and use alternative routes to cash their pay. It may be more expensive say number of conversions to get their funds, but at the end of the day, it will be worth it.
If no one can ban the internet then they can't stop cryptocurrency or bitcoin in particular.
If no one can ban the internet then they can't stop cryptocurrency or bitcoin in particular.
This has been the trend this week. Countries are banning the use of bitcoin or making a regulations on it. I think this was the reason why bitcoin had made a sudden dip.
I mean, this is totally right.
So please government, don't be so harsh with us. This is what we need for the better Indonesia.
or maybe we should sign a petition??
Quote
Bank Indonesia menegaskan bahwa virtual currency termasuk bitcoin tidak diakui sebagai alat pembayaran yang sah, sehingga dilarang digunakan sebagai alat pembayaran di Indonesia. Hal tersebut sesuai dengan ketentuan dalam Undang-Undang No. 7 tahun 2011 tentang Mata Uang yang menyatakan bahwa mata uang adalah uang yang dikeluarkan oleh Negara Kesatuan Republik Indonesia dan setiap transaksi yang mempunyai tujuan pembayaran, atau kewajiban lain yang harus dipenuhi dengan uang, atau transaksi keuangan lainnya yang dilakukan di Wilayah Negara Kesatuan Republik Indonesia wajib menggunakan Rupiah.
Quote
Bank Indonesia affirms that virtual currency including bitcoin is not recognized as a valid payment instrument, so it is prohibited to be used as a means of payment in Indonesia. This is in accordance with the provisions of Law no. 7 of 2011 concerning Currencies stating that currency is money issued by the Unitary State of the Republic of Indonesia and any transactions that have a purpose of payment, or other obligations to be fulfilled with money, or other financial transactions conducted in the Territory of the Unitary State of the Republic of Indonesia shall be obliged using Rupiah.
We admit it that virtual currency isn't a "valid" medium of exchange, and what we've been doing is selling them as the thing not the currency (just like stock).So please government, don't be so harsh with us. This is what we need for the better Indonesia.
or maybe we should sign a petition??
I am very concerned about this news, the government does not support the existence of crypto-gurrency, but many positive can overcome inflation in a country.
I got the info a few days ago that some banks in Indonesia will implement blockchain
I got the info a few days ago that some banks in Indonesia will implement blockchain
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