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Topic: Indonesian Ban - page 6. (Read 3529 times)

sr. member
Activity: 462
Merit: 515
November 05, 2017, 04:22:24 AM
Why does every country have different approach toward cryptocurrency??,, central banks officials has no common goals toward bitcoin because some show support and others is not.. There just showing that there is no proper connection with those banks or they’re just trying to tell us they’re not but in reality they’re just playing games with us.. It’s hard to tell and hope this insane propaganda against bitcoin will soon stop..

As to me, there is so much of hidden agenda and open propaganda because governments can't fight Bitcoin in the open. It is obvious that many governments like that of Indonesia, Venezuela, or even Russia can't embrace Bitcoin but they can't fight it openly either. They would look like black sheep in the eyes of the rest of the world, especially those countries which many refer to as developed countries and where Bitcoin feels quite at home.
full member
Activity: 462
Merit: 102
November 04, 2017, 09:56:05 PM
Why does every country have different approach toward cryptocurrency??,, central banks officials has no common goals toward bitcoin because some show support and others is not.. There just showing that there is no proper connection with those banks or they’re just trying to tell us they’re not but in reality they’re just playing games with us.. It’s hard to tell and hope this insane propaganda against bitcoin will soon stop..
hero member
Activity: 1708
Merit: 541
November 04, 2017, 09:51:44 PM
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/

Please don't make people panic. That statement contains no threat at all. They are just stating that business shouldn't accept Bitcoin in exchange for goods or services (i.e as a currency/payment system). Citizens are still allowed to own and trade Bitcoin into local currency. Indonesian Bitcoin exchanges are still operating as usual, withdrawal via bank is still enabled. That is not what community perceive as banning.

That reads to me as there is an inherent risk associated with bitcoin its just a warning not a outright ban on bitcoin.

True.

many of us know that in the country of Indonesia or in all countries the government will not prohibit people using bitcoin.
but they let citizens use bitcoin, even as a payment metode,

Not true. Indonesian government currently prohibits using Bitcoin as a payment method. That's why BitBayar, Indonesian version of Bitpay, recently shutting down their service.
full member
Activity: 630
Merit: 102
November 04, 2017, 09:36:38 PM
many of us know that in the country of Indonesia or in all countries the government will not prohibit people using bitcoin.
but they let citizens use bitcoin, even as a payment metode,
on their grounds, because bitcoin can help all the people around the world and is good for investing in earning a good income.
full member
Activity: 248
Merit: 100
https://exclusiveplatform.com/
November 04, 2017, 06:44:21 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/

I'm afraid not for bitcoin but for them rather because they see things differently as we sees them. They say there is a risk, but does they think that there is no things existing without a risk. Risks are nothing compared to success. And if bitcoin can bring success to their community then why would you think for risks. I guess they are really against on bitcoin and they're just making some excuses.
sr. member
Activity: 462
Merit: 515
November 04, 2017, 04:44:43 AM
That reads to me as there is an inherent risk associated with bitcoin its just a warning not a outright ban on bitcoin.
This is the bad news because it is not good to ban the bitcoin in Indonesia, I am really worried because at the start the china ban the bitcoin and now the Indonesia doing like this but the value and the price of the bitcoin can never get down because of this, the popularity and he value of the bitcoins is now increasing and the government of the Indonesia might be afraid of the paper moneys future.

It may work out any way in the long term. I mean the governments that choose to ban Bitcoin may make the situation in their countries even worse simply because they fight the wrong party. They might think that Bitcoin is their ultimate foe while they should actually try to improve the economic situation at home. By banning it, they might also think that they have solved their problems, while in fact they have just postponed them, if at all.
hero member
Activity: 644
Merit: 500
November 04, 2017, 01:55:01 AM
Yes, It's the same situation in Vietnam too, the goverment already made a law that prohibited guys who use bitcoin as the official payment and you could be busted by using it at a method payment.
Even though that's true, the ban only applies to situations where people try to use bitcoins to make purchases online. It doesn't apply to to people owning and saving bitcoins so I think this is rather very fortunate for the bitcoin network because the news didn't even affect the price as a whole.
Yeah all the people are believing the news but I think it is not true because the Indonesia is still using the bitcoin in some areas, I hope the news is fake and soon we will hear the Indonesia is using the bitcoin because the bitcoin users are still upset for the ban of the bitcoin in the chins and now this news made all the people really sad and upset so I hope the future will be better.
There is nothing authentic about this news. There are number of people who are saying this thing but there is no such news on record. Still there are number of people who are investing in bitcoin. Above all, they are also using their bitcoins in meeting their daily based needs in Indonesia. I don’t think so that this news has any existence and it is just a propaganda to bring down the value of bitcoin.
hero member
Activity: 1022
Merit: 538
November 04, 2017, 01:23:20 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/
all things are definitely risky but it should, I think Indonesia should have a foresight as well with this bitcoin. certainly should be able to follow the country that has legalized bitcoin and know the rules so as not to contain too much risk. so Indonesia is able to legalize bitcoin without thinking about the risks it carries.

First off, good article. I agree that there is definite risk in the bitcoin market, which is why, many governments and countries are very reluctant in including bitcoin in their market because of those risks. While other countries are pessimistic, others are optimistic as well and have already allowed bitcoins to penetrate their markets. I think it depends on the how a country views bitcoin usage and the advantages and disadvantages it can do to their own market systems.
I strongly oppose this risk factor now. People talk about digital currencies especially bitcoin and Ethereum like they are bubbles but let’s just face the facts now.

Is it really possible to stop the idea of digital currencies from spreading and defame the block chain technology when many tech companies are getting involved into them? The co-founder of Apple Company passed a statement in which he declared bitcoin better than gold.
hero member
Activity: 728
Merit: 502
November 04, 2017, 01:15:48 AM
That reads to me as there is an inherent risk associated with bitcoin its just a warning not a outright ban on bitcoin.
This is the bad news because it is not good to ban the bitcoin in Indonesia, I am really worried because at the start the china ban the bitcoin and now the Indonesia doing like this but the value and the price of the bitcoin can never get down because of this, the popularity and he value of the bitcoins is now increasing and the government of the Indonesia might be afraid of the paper moneys future.
sr. member
Activity: 462
Merit: 515
November 04, 2017, 12:26:06 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/

Indonesia can’t stop people from owning or using Bitcoins regardless of a ban. The citizens that want to hold Bitcoins will still hold them and there will be black markets where they are used. This is true for any country that tries to ban Bitcoin or other cryptocurrencies. The people will find a way to keep their money out of the control of the government or banks and since it’s not physical money, the government can’t really enforce a ban.

I second this view. But what I want to add is that it could be even more difficult for them to ban physical money. Of course, they can declare some paper notes as no longer valid and similar stuff like they did in India, but if they do something like that, ordinary people will just start to use foreign currency between them like it happened in Zimbabwe. Most likely, it will be the US dollar, the reserve currency of all the people around the world. Gold and silver coins could work too for bigger purchases.
legendary
Activity: 1932
Merit: 1273
November 04, 2017, 12:13:15 AM
the Indonesian government continues to monitor the development of bitcoin, I am very sure someday the government will legalize bitcoin in Indonesia.
in my opinion legalizing bitcoin in Indonesia, will have a bad impact in the country itself, because uneducated people about bitcoin will have a curiosity about it, why its bad instead of good? , because Indonesia Had high corruption rate, so it will a lot of people using bitcoin for tax evasion and money laundering. although its good for the bitcoin ecosystem because many people recognize bitcoin more.
member
Activity: 126
Merit: 11
One of a kind
November 03, 2017, 11:13:54 PM
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/

Upon checking the link, instead of having a say on indonesian banned to bitcoin, the country philippines is the one that catches my attention the most simply because I am from that country. It catch my attention due to that I like how the Philippines accepted the bitcoin and pioneers the regularization without limiting the benefit of using virtual currencies like bitcoin in investing and to its other services.
sr. member
Activity: 308
Merit: 250
November 03, 2017, 09:48:16 PM
the Indonesian government continues to monitor the development of bitcoin, I am very sure someday the government will legalize bitcoin in Indonesia.
hero member
Activity: 1008
Merit: 510
November 03, 2017, 09:25:08 PM
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/

Indonesia can’t stop people from owning or using Bitcoins regardless of a ban. The citizens that want to hold Bitcoins will still hold them and there will be black markets where they are used. This is true for any country that tries to ban Bitcoin or other cryptocurrencies. The people will find a way to keep their money out of the control of the government or banks and since it’s not physical money, the government can’t really enforce a ban.
sr. member
Activity: 700
Merit: 277
November 03, 2017, 08:40:26 PM
Do you think this will make bitcoin drop? Or will it have no effect?

Will not have any impact, the country that the biggest bitcoin users china does not have any impact, this is because bitcoin users are loyal and not affected with any negative issues.
newbie
Activity: 12
Merit: 0
November 03, 2017, 08:07:29 PM
I'm from Indonesia
I already asked some questions personally to CEO of biggest bitcoin exchange here bitcoin.co.id
They have plenty of company involving in Cryptocurrency not just an exchange, following the news that our central bank does not allow us using bitcoin as a form of payment the company decided to shut down few of their service.
This act is more like cooperative moves because after all here in Indonesia, we don't get that much attention and that the least we can do for now, we will try our best to educate a lot of people before really jump into this Crypto space.
sr. member
Activity: 588
Merit: 251
HELENA
November 03, 2017, 08:01:08 PM
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/

This is too much but it does not affect my point of view with bitcoin. This news doesn't effect the heart of many investors for the market of btc price keeps on growing faster.
hero member
Activity: 1092
Merit: 501
November 03, 2017, 07:35:22 PM
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.
We must understand that bitcoin is already very powerful, while for many people the forum bitcoin is still small, and they are right, we must remember that not every country is the US or China there are countries that are a lot smaller and their governments are going to suffer the consequences of widespread bitcoin usage in a deeper way than a first world country since they do not have institutions as strong and they are weaker economically, just look at what it is happening in countries like Venezuela where bitcoin is thriving despite the bans.
legendary
Activity: 1442
Merit: 1025
November 03, 2017, 02:24:55 PM
Its risky because they will not support it as a currency they have fear to use bitcoin that maybe in the future banks may collapse because of bitcoins.I cant see any reason why some governments ban using bitcoins it only needs to regulate.
They do not know how they want to go about the regulation yet apparently. And it really surprises me how a government that has never cared now comes out to show as if they have cared. Bunch of losers!

They have seen that it is getting out of hand for them and they are beginning to lose the control they have always had and then trying every means to stop it. We obviously do not want their care as we have always been caring for ourselves all these while anyway.
member
Activity: 113
Merit: 31
November 03, 2017, 01:39:24 PM
Do you think this will make bitcoin drop? Or will it have no effect?
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