Topic: Indonesian Government Banned Bitcoin - page 8. (Read 2016 times)

I can't understand why more and more countries are versus bitcoin, this isn't an illegal thing, it's only a digital cryptocurrency
Yes maybe is used for doing/pay illegal things, but it does not mean anything, the dollar is used too for this things.
The governments and financial institutes want to block our freedom.

Here we go, another country that decided to ban bitcoin after China, but they should already realized that there is no way to stop people from using bitcoins for transactions online unless the government decided to stop the internet usage for the whole country, people could still easily sell bitcoins via other ways.

Could you provide a link to a news article stating this?

Also, How strict are internet rights in your country? I'm sure you could work around the ban if you desired so.

Another country is doubting bitcoin to it's future. Bitcoin may be volatile and  decentralize but I think it may do good in the future when people are starting to use it in their normal or common transactions.

I don't think developers and other supporters will let bitcoin be the same when that happens, they will be having a lot of developments for sure that will help. They are just judging the bitcoin now, not what it will be in the future.

Perhaps the government will change its decision after a while. Let's hope for it.

 Sorry to hear that, Its really a very sad news.

Any source to back up this claims?
I really doubt it.


They are not banning bitcoin at internet level.
They are banning everything related to bitcoin.

The problem is that they have access to all banking accounts and they can easily see who is receiving money from abroad and from who. Exchanges use a limited number of bank account so it's pretty easy to learn who received or sent money from one.

Worse part is that all usage will go down the drain as no restaurant/shop/hypermarket will offer the possibility to pay with coins. Bitcoins ATMs will be gone and paypoints will stop selling coins.

E ban , if it's real and heavily enforced (and there is one crazy guy in power there) is nothing you can deal with a smile.
I'm waiting for the official statements and for the law that describes the punishments.
Will you still use bitcoin if the morons will charge you with 10 years in prison for that?

It is Bank Indonesia who is setting the regulations for the crypto currency, they are going to put a ban on it in 2018. Most probably their reason is because in their country almost 66% of their population don't have a bank account and tey are seeing crypto currency as a competition for their banking industry. This move to ban crypto currency will somehow force their citizens to become more actively involved in their banking system and at least limit their options.

In a statement,the central bank Governor Agus Martowardojo said that the top-dog cryptocurrency was not a legit means of payment and that if it utilized as such, action would be taken by the authorities,the government have not officially announcement the ban.

I think it is a bit old news, but yeah it is sad that the Indonesian government dont care about the people who are into cryptocurrencies.
May be it is too costly for them to handle the price of bitcoin because its price changes every minute and the main factor can be because of the value of the Indonesian rupiah.

Only countries which have an authoritarian mindset, or whose governments have really screwed up monetary policy, will be afraid of Bitcoin and try to restrict its growth. An open government will see that fintechs using Bitcoin bring efficiency to the system through competition with the legacy systems of existing banks. I expect more governments to act against Bitcoin, but that is not going to slow its growth.

Yeah I agree, this is just a government strategy because they know that they can get nothing from this. Maybe giving their community false news about Bitcoin didn't work so they are doing another option. Since a lot says that this wasn't an official announcement, maybe this is just also a part of the fake news circulating in the crypto world made by those who want to take down Bitcoin.

Don't let that happen. What will happen to the people who earn money from bitcoins and as their source of income? You should sign a petition for that. Im sure indonesian government will hear you out and hopefully they will totally accept bitcoins in your country.

Well that's why decentralized can't be controlled by anyone even a government, you can secretly use bitcoin, but it's really unfortunate that this country banning bitcoin, are they never somewhat researched what is bitcoin and how they could make a decision to ban bitcoin while other country which obviously way ahead of this country already considering bitcoin as a commodity, opening a market for it, and even accepting it as a legal tender.

I looked this issue as a result and side effect of many ignorant Indonesia bitcoiners
many Indonesians, regardless how small or big their income, are evading taxes deliberately
and government see the potential of losing more tax income from mass wide bitcoin adoption
aside the obvious reason fear of laundering money and terrorism related usage
many Indonesian people (read: bounty hunters) keep telling themselves that bitcoin income is NOT taxable
and neglecting their tax duties/responsibilities while their income already past the yearly non-taxable income (PTKP)
their reason is based on the idea no regulation no tax and I keep saying where there is income there is possible tax

Yearly non-taxable income is similar to Standard Deduction in US tax law
FYI our yearly non-taxable income for singles is Rp.54 million ~ $4,150
if not mistaken US Standard Deduction for singles is $6,300 please any US citizen cmiiw
many Indonesians here do signature campaign & trading as main source income but refuse to report and pay taxes
I explained clearly in a few threads in local boards, PAY YOUR TAXES... or at least report and clear your tax matter
we bitcoiners should set an example as a law abiding citizen to pay taxes on our bitcoin income

The more Indonesian bitcoiners pay their taxes related bitcoins
The more attention the government will facilitate or discuss about bitcoin matter on the legislation level
Remember Tax will be and should be imposed on any bitcoin income and realized capital gain on bitcoin
my post started sound like a rant than a discusion... I'll better stop now

you live with bitcoin for 6 years and have earned income? woow .. that's amazing and makes me jealous.
commenting on your statement about the Indonesian government's attitude prohibit bitcoin, I think we need not fear and worry. because today we can still feel the result of bitcoin, by exchanging it to IDR.
as long as there is no firm rule of the government about ban bitcoin, we make a chance today to continue to mine bitcoin until our wallet is full.

Some countries are banning Bitcoin and Cryptocurrencies for one reason, they don't want their sovereign money to invest into a bubble item that is the volatility is high.
Imagine, the people will loose $10,000 in a blink just to own a single coin that is intangible.
They're not after with Crypto-Currency as the future of economy and trade, they just doesn't want to let their people loose their money and let western and European countries dissolve their money in the thin air.

It's bullshit

If they are not going to restrict Internet then simply use VPN service and keep, trade and move your Bitcoins or crypto via abroad based wallets & exchanges.
If you nee to get USD simply exchange your BTC to USD via e.g. Skrill.
Good VPN service is a powerful way to get access to services, restricted locally.
For example, a lot of countries block gambling websites locally but .... millions of people bet and gamble, using VPNs.

will ban, i dont think so. but it can be
government and the other still make research about blockchain, it have advantage to people or not.
i see comment below:
yes, smart people here will do anything to get profit, more profit. because we think the government is not fair to us. much corrupt but less punishment, different with chicken's thief that got many years in jail. fuck up