Topic: Indonesia, the second largest crypto adopter without legality. - page 3. (Read 1166 times)

cannot be denied if Indonesia is one of the countries that has the largest percentage of bitcoin usage. now Indonesia only needs legality from the government, I'm sure if Indonesia has these legalities it will certainly continue to be able to make cryptocurrency increasingly large, especially bitcoin.

And this is where they are going wrong. First of all, bitcoin is not the safest option to invest your hard money on. At least if you are thinking of short term investment. The price fluctuation is very high and the price might skyrocket or get dumped without any prior notice. And they are using bitcoin just to make profit. They will cash out and go back to fiat once their profit goal is reached. So this means that they have not adopted it usage, they are just using it as a form of asset storage.

Indonesia dont have cryptocurrency regulation but having local exchanger and daily transaction big enough. Many people in Indonesia knowing about cryptocurrency or bitcoin and many of them investing their money in crypto because people in Indonesia can deposit and withdrawal with local banks

I strongly agree with your opinion which says that crypto users in Indonesia are very much because they realize that crypto is one of the best and most profitable investment places so that many Indonesian people who enter the crypto world just want to reap huge profits.

This is about true because they're one to have the most population country here in ASIA. They also know a lot about technology this days. I am not surprise that most of Indonesian known cryptocurrency as alternative way to earn money/profit. Its's just maybe because same as my country the salary they got was not enough to make a living.

Indonesia, the fourth most populous country in the world, stands behind the United States, with a strong and vibrant Bitcoin community. The vast majority of Indonesia's population do not use banks, and the Rupiah is one of the most heavily traded Bitcoins in the world.

it's true because in Indonesia it holds a lot of crypto without being legalized by the government because the Indonesian bank still prohibits the existence of transactions using bitcoin and other crypto

When a high-quality cryptocurrency control apparatus appears, legitimize exchange operations in Indonesia

I happen to be an Indonesian citizen, bro. and I am very happy to collect crypto, the price is falling sharply. so that I can make a profit even if only a little.

introducing bitcoin and the world of cryptocurrency is important, I think because I am also an Indonesian, of course the most important thing in bitcoin is not just a value, but also introducing them about bitcoin or other crypto currencies through writing or explaining to them directly, I I think there will be many other adopters who grow up there, of course, in that way it will grow faster

If large portion of the Indonesian population are in crypto and other countries while the Asian countries are also coming to the crypto world and bitcoin is useful but those who understand that crypto is important to them they are availing every opportunity of crypto and if Indonesian allow this as legal then 95% of them will use it.

as an Indonesian citizen, I can say that the survey can be said to be true. that the cryptocurrency market here is able to run without any definite legality or regulation from the government. around the beginning of 2018, Indonesian banks (government central banks) briefly issued a statement to ban bitcoin. but over time, that did not happen. the central bank only limits crypto use as an investment in digital assets / trading, crypto is not permitted for transaction tools, and this is indeed not yet possible, because there are no goods companies that accept crypto payments. besides the Indonesian president, In his speech, Mr. Joko Widodo stated that everyone must be ready to accept blockchain technology (which is used by crypto), because this is a future innovation, you can find it on youtube.

but if the data says 63% of Indonesians know the crypto world I think that number is too excessive. even in big cities like the capital city of Jakarta, or in the academic environment of universities, there are still many people who don't know the crypto industry in depth, maybe they simply know what bitcoin is from the news in the media. then what about the village community? without reducing respect, I'm not even sure they know Bitcoin especially crypto as a whole.

Indonesia's total population at the end of 2017 is 264 million. 63% means around 166 million. I doubt the results of the survey with two assumptions. First, the crypto currency in Indonesia is still not recognized as a legitimate payment instrument. Second, the average of Indonesian population lives in the village and with a low economic level. I don't think people will invest their money in crypto currency while their lives are still low. Indeed, the number of people who knows and invest in crypto is big but the percentage isn't that huge.

This is a good percentage for Indonesia and this will increase in the years to come considering their literacy rate at 95%. I just hope that mass adoption has implemented to increase the demand of cryptocurrency as mode of payment not just a commodity.

Don't say it is illegal, in Indonesia bitcoin have no regulation not means illegal. We still can use it even we can't get law protection when we get scammed or anything related about it.

yes you are right, actually there are a lot of indonesian people who are compatible with bitcoin if they have the intention and want to give up effort they will surely succeed with bitcoin. in Indonesia the majority are villagers whose economy is lacking and bitcoin can be used even though it is illegal.

but Indonesia does not have a big effect because of the lack of large investors that nest in Indonesia
the majority of Indonesians use cryptocurrency as a tool to make money, without understanding the uniqueness of blockchain technology
indeed when there was an ICO originating from Indonesia launching, the related project was usually successful, because the support of the cryptocurrency community from Indonesia was so great

I disagree with that. The percentage is too high, not many people in my country who know about bitcoin, here in my circle only few people who know bitcoin I live in big city in indonesia and people here are only focus to work in company. Government still don't legalize bitcoin yet, but government also don't ban it.

I am sure 63% of Indonesians know crypto, especially bitcoin, but I think only 30% really understand bitcoin and the rest they are only limited to know without learning more, here education will be very important about bitcoin so they don't misstep if they want to invest in bitcoin.

Yes, the Indonesian government seems to want Indonesians to find no losses caused by Cryptocurrency. So the Indonesian government has not legalized Crypto in Indonesia until now. But in my opinion, if Crypto users are already very much in Indonesia, it is better for the Government to legalize bitcoin as the second currency after IDR. Of course the government must also make a law on the use of Bitcoin in the country of Indonesia.