Topic: Indonesia’s Central Bank is Planning to Ban Bitcoin in 2018 - page 2. (Read 1514 times)
As far as I remember, a lot of people in this country have invested in bitcoin. For a long time this prohibition can not last.
More than half of the year 2018 has passed, Indonesia’s Central Bank didn't ban. The report was issued by Agus Martowardojo: the governor of the central bank (Bank Indonesia). The officials are planning and drawing up regulation to enact the ban on all form of Bitcoin and cryptocurrency dealings.
Quote
He went on to detail additional restrictive measures by the bank, stating:
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
detail here https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/
what do you think about this ?
i think my country not ready to growing with this blockchain era.
I think i have seen that news for a long time already, but still i don't hear anything about it anymore?
Like they only say it the moment when bitcoin is being a hype and cause kinda controversial. But now, no move is being made. Good thing though, because i don't think it's necessary for them to make regulation about bitcoin. But like you say, sadly our country is not ready for blockchain era.
They should care about more important things though rather than wasting their time and energy to make something that actually doesn't matter much, and doesn't effect badly to the country.
I think it's just the news or maybe their government, do not understand the electronic money. This ban may be an immediate solution for them. They will solve all the problems that affect the country. At that time, they just started to get involved. I believe that every country must gradually gain not in a hurry. Like they only say it the moment when bitcoin is being a hype and cause kinda controversial. But now, no move is being made. Good thing though, because i don't think it's necessary for them to make regulation about bitcoin. But like you say, sadly our country is not ready for blockchain era.
They should care about more important things though rather than wasting their time and energy to make something that actually doesn't matter much, and doesn't effect badly to the country.
This decision will not make any difference to bitcoin but surely Indonesia is going to face the consequences of this
I think i have seen that news for a long time already, but still i don't hear anything about it anymore?
Like they only say it the moment when bitcoin is being a hype and cause kinda controversial. But now, no move is being made. Good thing though, because i don't think it's necessary for them to make regulation about bitcoin. But like you say, sadly our country is not ready for blockchain era.
They should care about more important things though rather than wasting their time and energy to make something that actually doesn't matter much, and doesn't effect badly to the country.
Like they only say it the moment when bitcoin is being a hype and cause kinda controversial. But now, no move is being made. Good thing though, because i don't think it's necessary for them to make regulation about bitcoin. But like you say, sadly our country is not ready for blockchain era.
They should care about more important things though rather than wasting their time and energy to make something that actually doesn't matter much, and doesn't effect badly to the country.
i think its will not happens (?) , the news after the conference indonesian is on netral posisiton and didnt make any regulation about banning the cryptocurrency
Quote
He went on to detail additional restrictive measures by the bank, stating:
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
detail here https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/
what do you think about this ?
i think my country not ready to growing with this blockchain era.
Quote
He went on to detail additional restrictive measures by the bank, stating:
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
detail here https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/
what do you think about this ?
i think my country not ready to growing with this blockchain era.
indonesia is developing economy i won't think Indonesia will take this drastic decision it will definitely effort the economy in large hopefully they take back decision of banning bitcoin trade
Banning of this mighty coin of the crypto market is really awful decision for the economy for the country and for the people of the state. Everyone these days want lavish life and more ways of making money. With day jobs, investing into bitcoin is going to make you rich beyond your imaginations and if people are rich, they will strat business which is automatically going to enhance the economic state of the country.
indonesia is developing economy i won't think Indonesia will take this drastic decision it will definitely effort the economy in large hopefully they take back decision of banning bitcoin trade
Honestly, this is extremely detrimental to Indonesia itself. Especially when crypto is a growing sector and you're essentially trying to ban BTC which is the major crypto. It means that essentially, businesses are forced out.
Regulation is much better than an outright ban in these scenarios.
I don't see a complete and utter ban of crypto a likely scenario for Indonesia though, as even though this was basically released months ago, no new action was taken, no new bans, etc. It's unlikely for any country to ban bitcoin itself. Much more likely for them to put some sort of restriction on exchanges within their country.
Regulation is much better than an outright ban in these scenarios.
I don't see a complete and utter ban of crypto a likely scenario for Indonesia though, as even though this was basically released months ago, no new action was taken, no new bans, etc. It's unlikely for any country to ban bitcoin itself. Much more likely for them to put some sort of restriction on exchanges within their country.
Quote
He went on to detail additional restrictive measures by the bank, stating:
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
detail here https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/
what do you think about this ?
i think my country not ready to growing with this blockchain era.
this is bad news, it can prevent the spread of bitcoin in the world.
Well no kidding it prevents the spread, but that's just to one small region that, in the end, likely doesn't even really have an effect on a majority of the markets that exist globally. I don't even think that there are enough people within the country in order to have an effect on the market within their region, let alone the world. Those who care enough about Bitcoin in Indonesia will likely get it one way or the other, and I will be surprised if there is a significant drop because of this. I don't believe the drop we just experienced is indicative of this news at all.Probably most bitcoin users taste in Indonesia but they are not the big holders of bitcoin so although the news is true it will not be a big influence on the price movement. Currently affecting the bitcoin price movement in the world is the activity of large exchange like bittrex, binance, hitbtc, and others.
Quote
He went on to detail additional restrictive measures by the bank, stating:
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
detail here https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/
what do you think about this ?
i think my country not ready to growing with this blockchain era.
because my country Indonesia is always like and the issue will disappear by itself
Indonesia has too many problems in this country. Crime, corruption, bribery of officials ... I think the government has a reason to issue Bitcoin bans because Bitcoin is too secure and confidential for users. But the ban on Bitcoin is not a problem, as it is against the trend of e-commerce in the future. Maybe at some point, the government will adjust.
indonesia btc prohibit it must have a clear reason. for example that is, Indonesia does not want if this country is getting destroyed. because most people are sometimes criminals to get results from btc. basically the indonesian is mostly not willing to try but it wants real, and it can not happen as well. because the work also requires effort.
Bitcoin is unstoppable,people who use bitcoin will continue to find a way in times like this that a central bank or a country planning to ban bitcoin. And sometimes those plans will not happen if they know other countries are now a growing country of cryptocurrency and the also found out that bitcoin help to increase the economic growth of other countries.
this is bad news, it can prevent the spread of bitcoin in the world.
Well no kidding it prevents the spread, but that's just to one small region that, in the end, likely doesn't even really have an effect on a majority of the markets that exist globally. I don't even think that there are enough people within the country in order to have an effect on the market within their region, let alone the world. Those who care enough about Bitcoin in Indonesia will likely get it one way or the other, and I will be surprised if there is a significant drop because of this. I don't believe the drop we just experienced is indicative of this news at all.
This is not a good news for Indonesians citizen who is involve in cryptocurrency. But I'm sure things will be ok with them. In this digital world, people find ways and the workaround on every situation even there will be sort of ban. Being in the Philippines who is supporting the technology, we are lucky as we can easily encash our earning through a legit exchange company. I'm sure the Indonesian government will find it way through a proper reconciliation regarding bitcoin/cryptocurrency in general.
They can't do it. They even didn't have any power to ban users. How could they stop technology? now days is modern and we need a good e-money like bitcoin. Even they block up the IP of users, we could do VPN or another IP changer to fake it out and access bitcoin site normally.
May. They can not ban people from working and collecting Bitcoins because Bitcoin is always secure and safe for users. But the government has the right to prohibit the use of Bitcoin in trading activities. At the same time tightening management of banks involved in the conversion, exchange Bitcoin to cash. They are responsible for their country. And they have the power to issue bans. Hopefully in the future, the government will have a more positive solution. Jump to: