Indonesian Ban - page 11. | Bitcointalksearch.org

loragean03

full member

Activity: 403

Merit: 100

Quote from: hugeblack on October 27, 2017, 10:02:52 AM

Indonesia’s central bank, has threatened action against bitcoin and say

Quote

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

sad to know that the country you mentioned are totally has no intend to adopt/accept bitcoin as a digital asset/currency to be use on that county. but we didn't hide the truth that all kinds of investments projects are has a high risk to grab, I think they don't know the real facts and the real benefits of this bitcoin on their country if they implement this. don't worry sooner or later they realize that they need to accept this bitcoin because of its benefits on us people.

Omega Weapon

hero member

Activity: 1092

Merit: 501

Quote from: dothebeats on October 27, 2017, 12:56:57 PM

Ahhh, governments trying to protect the 'best interests' of their people and acting as if they care. Using fiat also carries risk—heck, it carries more risk when transacting with large amounts. I remember one time back in 2016, I was buying an expensive watch for buy and sell when suddenly a motorbike pulled up in front of us and I was held at gunpoint. That is in front of a freaking restaurant with 2 armed guards roving around the restaurant's perimeter. The timing of that was so precise that they took the watch and the money without the guards being alerted. Luckily, a police checkpoint was way ahead of them just a couple of blocks away from where we're at and they were arrested immediately. With bitcoin, I can carry tens of thousands, or even millioms without having to fear for my safety. The only thing I should be aware of is if the machine I'm using to transact is not compromised by any malicious software that could steal.my money.

Politicians play this card all the time, they try to ban things by playing the this is for your own good card, it is obvious that at the moment there are many scams going on on bitcoin no one is going to deny that but only a handful of people are going to fall for this and the rest are going to benefit with the use of bitcoin, but we know they are forbidding bitcoin for their own benefit they do not want bitcoin to win any support in their country but the truth is that is beyond their control.

vv181

legendary

Activity: 1932

Merit: 1273

Quote from: trucdev88 on October 30, 2017, 02:15:44 AM

This decision of banning Bitcoin payments coming from the central bank has caused exchanges like Bitbayer and Toko Bitcoin to shutdown its operations. Bitbayer has officially announced that it will shutdown all its operations starting from the 1st of November and existing users are requested to withdraw all its funds by the closing of this month. Took Bitcoin too is said to have followed the same line of action like Bitbayer.

According to the news that I read, the shutdown was not due to an intervention by the Bank of Indonesia but rather an independent and voluntary decision by the companies. The bank of Indonesia statements just mean bitcoin is not official payment system but still can be used by anyone.

meomeo2

newbie

Activity: 9

Merit: 0

The price for a Bitcoin is quite high but users do not have to buy a whole dong. In addition, the potential of this virtual currency is also great.

Gurdos

member

Activity: 65

Merit: 10

Quote from: hugeblack on October 27, 2017, 10:02:52 AM

Indonesia’s central bank, has threatened action against bitcoin and say

Quote

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

Another country has understood what this threatens and introduces a ban. Very good, I believe, this will knock down the record bitcoin at times and people will think.

trucdev88

newbie

Activity: 8

Merit: 0

This decision of banning Bitcoin payments coming from the central bank has caused exchanges like Bitbayer and Toko Bitcoin to shutdown its operations. Bitbayer has officially announced that it will shutdown all its operations starting from the 1st of November and existing users are requested to withdraw all its funds by the closing of this month. Took Bitcoin too is said to have followed the same line of action like Bitbayer.

tomahawk9

hero member

Activity: 2086

Merit: 994

Cats on Mars

Quote from: hugeblack on October 27, 2017, 10:02:52 AM

Indonesia’s central bank, has threatened action against bitcoin and say

Quote

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

The indonesian govt wants to maintain control over every economical aspect that their citizens are involved with, the govt doesn't have a way of generating income from Bitcoin, therefore, the ban was bound to happen sooner or later.

That's what a corrupt governments does, they criminalize every activity they don't control and profit from. Once they realized they were left behind the rest of the developing world, they will unban btc.

Oh, and the statement comes from the Central Bank, just like the rest of news we've heard over the past months, corrupt central banks in asia (China, Indonesia, Vietnam, South korea) are becoming aware of Bitcoin and its implications and have decided to act upon it. Bastards.

zarados

full member

Activity: 364

Merit: 130

Quote from: BillCoin on October 27, 2017, 11:14:53 AM

It's a warning, it doesn't say anything about banning the use of bitcoin.
As we can see at the last words, it says " We see using bitcoin as a risk".
It's okay, most of the countries have announced that bitcoin is a risky investment, it doesn't mean that they have banned it, it just says that they want to give a warning to their people, but can't have a solid statement on the coin right now.

that's true, I know that the country is not prohibited from using it, but it commemorates the citizens about the risks of cryptocurrency technology. So in other words, the government allows to use but please bear its own consequences. Besides, although in the country forbid bitcoin, I don't think it has a big effect on bitcoin. because the country is still a developing country and has no major contribution to the development of bitcoin.

Al Amin

full member

Activity: 294

Merit: 100

I think that is not a ban, it's just BI doing its duty that official payment in Indonesia is using Rupiah, BI just want to give explanation To the citizens that they do not intervene on risk and negative impact of bitcoin

macchiato

full member

Activity: 420

Merit: 103

That just means that the Indonesian Banks are aware of the potential of BTC and are threatened by it. Scaring people is their way of shutting down bitcoin users in their country. We all know how the government works, they disapprove anything that they are out of control and those they cannot profit from. Besides, this is what banks always tell people. They always present the bad side of btc as if fiat money has no negative features. Anyway, I don't see this as something to be worried about because I believe that each of us here already knows the risks of btc.

krauzzer02

full member

Activity: 378

Merit: 101

They just want to ban the bitcoin as a payment method because it impose such risk and volatility because they are not ready yet to adapt this kind of currency and it can be a tool to used for scamming and stealing. But at the same article Philippines already legalized and acknowledge the use of bitcoin by the Philippines central bank issuing a regulation to its exchanges. well i hope some countries in Asia also follow this step. on another page Indonesian central banks threatened by this currency not just because of its negative features but because they fear it will replace their businesses.

Sasuke102001

full member

Activity: 280

Merit: 111

So now Indonesia has stepped up to ban bitcoin. Bitcoins decentralization making it not possible to regulate bitcoin by any government or organization, maybe is striking a good fear in the hearts of the government. It's good to see how governments are fearing the potential and power of bitcoin and to stop the spread in their nation, they are trying to ban it. But i don't think that's gonna change anything, people would still continue use of bitcoin using VPN's.

yusupjatigumilar

full member

Activity: 644

Merit: 100

The Indonesian government forbids bitcoin to be used in direct transactions because to keep the rupiah exchange rate, because if bitcoin is used in a direct transaction it will make the rupiah weakening and even no value.

PDAngel

full member

Activity: 574

Merit: 100

At my country, after 1/1/2018 if use or provide altcoin is illegal. So maybe government cope up with cryptocurrency hardly. I dont care about them. But i really want sell, buy, trading cryptocurrency as legal way. Our government cannot control this market so they ban. LOL

UCHCHILD

sr. member

Activity: 490

Merit: 250

I guess we all know that already that having bitcoin is a big risk at all, especially if you put all your money into it. Nothing is complicated if you know how to handle things with it, on how to manipulate abd how to make things worth with bitcoin at all.
And so many banks forsee that bitcoin is a big threat to them so they jumo to conclusion of making a negative news with bitcoin now.

fishbonez11

full member

Activity: 322

Merit: 116

It is true that there are risks, but I think that some risks are manageable in bitcoin use. I imagine the start of credit cards and other online banking and online payments, how these things also faced skepticisms and oppositions before.

nurlela

sr. member

Activity: 434

Merit: 254

the title is too extreme, not like that actually.
the Indonesian government simply does not recognize bitcoin as a means of official payment, not bitcoin ban.
because the official payment instrument in Indonesia is only IDR.
everyone also knows that bitcoin has the risk of being stolen, therefore the government is not responsible for the loss of bitcoin we have.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: hugeblack on October 27, 2017, 10:02:52 AM

Indonesia’s central bank, has threatened action against bitcoin and say

Quote

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

That doesn't even make sense as a statement, really. It boils down to "We don't recognize it thus everyone should make sure that they aren't using it in a way that we don't want them to". It's not like a statement that is as vague as that is something people will actually recognize, at least in Canada no-one has ever responded to something as weak as that with anything more than a shrug.

I'm surprised Indonesia cares so much, but, according to the title of the article, they seem to care a lot more than one would think.

Probably another instance of trying to control the internals of a country by controlling their currency with a tighter fist.

nidacoinlove

sr. member

Activity: 588

Merit: 254

I think it is not a ban on anything but the Indonesian government has done a great job and has informed it's people to be aware of any kind of dealing in bitcoin. This is like you can't draft an agreement with declaring bitcoin as a mean of payment.
They have just declared it that bitcoin can't be used as an official payment. I don't think that it's a great matter of concern to bitcoin users in Indonesia.

TravelMug

hero member

Activity: 2632

Merit: 833

Quote from: dothebeats on October 27, 2017, 12:56:57 PM

Ahhh, governments trying to protect the 'best interests' of their people and acting as if they care. Using fiat also carries risk—heck, it carries more risk when transacting with large amounts. I remember one time back in 2016, I was buying an expensive watch for buy and sell when suddenly a motorbike pulled up in front of us and I was held at gunpoint. That is in front of a freaking restaurant with 2 armed guards roving around the restaurant's perimeter. The timing of that was so precise that they took the watch and the money without the guards being alerted. Luckily, a police checkpoint was way ahead of them just a couple of blocks away from where we're at and they were arrested immediately. With bitcoin, I can carry tens of thousands, or even millioms without having to fear for my safety. The only thing I should be aware of is if the machine I'm using to transact is not compromised by any malicious software that could steal.my money.

What the fuck kabayan? Is this for real?

Anyways, I agree with your point. Even fiat has more risk than bitcoin. I guess that Indonesian declaration was just a means for their Central Bank to somewhat step up because Indonesian are also a big bitcoin community out there. And I'm sure one way or another the government of Indonesia can't ignored the fact that bitcoin is gaining popularity in their country. Risk in bitcoin and fiat are always there. It's up to the individual on how to mitigate that risk. And if you know what you are doing then I don't see any reason for you not to transact bitcoin inside and outside of the country. And you have to thank the Central Bank of Indonesia for making such statement at least to quell the speculation that they are anti-bitcoin, which is not.

Topic: Indonesian Ban - page 11. (Read 3515 times)