Topic: Indonesia’s Central Bank is Planning to Ban Bitcoin in 2018 - page 5. (Read 1532 times)
I think this country policy, goverment can only banned the activity. User still can use cryptocurrency to invest but not legitimate by the government. The issue here is government want to sweep mybe this will cause clash action from user.
If they can push it through i think the only thing that the citizen can do is to move on or move to other countries to start trading bitcoin if they really want to do it. But imposing bans on bitcoin in a country for me is a bad move since most of the businesses are going towards the blockchain era just like what you have said and your country might get behind in development matters with respect to other countries that are embracing the idea of cryptocurrencies.
i am starting to really like all these bans that different countries put up for bitcoin. although most of them are empty talk and never end up in any actions.
whenever a ban happens, it just means that particular country is isolating themselves from the rest of the world. 1 out of 195 countries bans bitcoin, congrats
and also more importantly it shows that bitcoin CAN NOT be banned even if the government says it is banned! it is a decentralized cryptocurrency, people will continue using it. it would be like saying they want to ban Torrent network! you are just embarrassing yourself...
whenever a ban happens, it just means that particular country is isolating themselves from the rest of the world. 1 out of 195 countries bans bitcoin, congrats
and also more importantly it shows that bitcoin CAN NOT be banned even if the government says it is banned! it is a decentralized cryptocurrency, people will continue using it. it would be like saying they want to ban Torrent network! you are just embarrassing yourself...
I think Bank Indonesia some time ago has stated that Bitcoin is not a currency and a means of payment. "But Bitcoin can be used as a medium of exchange ...
Looks like Indonesia wants to buy more Bitcoin...
will indonesia follow china step?initially they disagree but instead they use it for the benefit of the state?
as far as I know, central Bank of Indonesia never declared it would banned bitcoin.. they are just reminded to be careful when bitcoin users invest their money in bitcoin.. it's true if Indonesia don't accept bitcoin as a payment but the government never prohibit the people to earn or invest in bitcoin..
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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.
With news like this that sometimes drive inexperienced people in cryptocurrency or bitcoin to push the panic button. However I think that this is something that we should all prepeare and get used to by now especially that some countries are clearly not ready
A lot of countries have mentioned about their banks planning to ban bitcoin and its their own prerogative to even come up with that idea. Anyways, if bitcoin still keeps rising despite of the negative feedbacks, eventually these countries will eat their words out and will think about just legalizing cryptocurrencies instead of banning them.
This has been a hot news this few months, until now the restrictions is only for transaction and payment using bitcoin because the legal currency is fiat and the central bank has warned about the investment in bitcoin, seems like in 2018 there will be more strict rules, I dont see any discussion toward legalisation, so there's a big chance that central bank will be banning bitcoin, somehow I really hope that the government will see bitcoin as a useful thing not as a threat
The great country of Indonesia should think twice, before doing this. You can get tremendous real life benefits from cryptocurrencies. Do you want your citizens to pay big transaction taxes to the banks, do you want to make obstacles to the businesses to operate quick and secure with crypto transfers or you want to stay behind.
AFAIK, they forbid bitcoin because they want to protect people from corruption or money laundry.
For example : we can purchase drug anonymously with bitcoin , that's my government's fear if they decide to legalize bitcoin in the future
bi would prohibit payment transactions using bitcoin on the 2018. ban bitcoin this would set in the regulation of bi or PBI according to plan issued in the near future. head of the program transformation bi onny widjanarko said in PBI, electronic money will be out in the near future would set, one of them about bitcoin. "when there is no clear rules if the transaction bitcoin,"bitcoin not set specifically by bi. for it, this time, bi still assessment in depth related bitcoin, whether to set in PBI electronic money or separate, for example later included in the PBI cryptocurrency.
I think.there should be a clarification first from indonesia if they are.thinking about banning bitcoin or exchanges, since.this is what is usually is happening, the banning of exchanges ut not noy bitcoin. Mostly people who wants to get rid of bitcoin are bankers, and by this time, weshould only lisyen to their government and not banks, since the government.will always have the last word.
The great country of Indonesia should think twice, before doing this. You can get tremendous real life benefits from cryptocurrencies. Do you want your citizens to pay big transaction taxes to the banks, do you want to make obstacles to the businesses to operate quick and secure with crypto transfers or you want to stay behind.
We can't stop governments unless through elections and so the people of Indonesia should rethink and see if the decision is either going to go against them or for them and do justice when they next have the chance to elect their country's leaders. I don't think there is much we can do from here but if it's credible enough then the youth should rise up and defend bitcoin.
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.
From the article I read there, the central bank Governor and the task force Chief have only establish one thing that they have lost the battle to free will of the people and for them to still be relevant they need to result to blackmail which is about encouraging people to invest in legal ventures in other to develop the economy of Indonesia and if that did not work, go for the total ban by forcing them out of the market by blocking every route that could give them the access.
In all, I see them enforcing the rule to send a message to the entire crypto market there to establish how serious they are but at the end, let's see how they want to ensure that because after they must have blocked all the known loopholes they think, other opportunities will begin to surface.
The great country of Indonesia should think twice, before doing this. You can get tremendous real life benefits from cryptocurrencies. Do you want your citizens to pay big transaction taxes to the banks, do you want to make obstacles to the businesses to operate quick and secure with crypto transfers or you want to stay behind.
there are plenty of rumour regarding bitcoin and government in indonesia but most of indonesian people still can use bitcoin until today because own bitcoin not against the law and currently they only prohibit bitcoin to use to physical stores and daily transactions because indonesia government said they only consider bitcoin as digital asset but not as the currencies which is can use on everywhere
Its not about whether your country is ready for the blockchain era or not but how what matters is how your country perceives the blockchain era. Even the whole world isn't ready about it the whole world is just never ready but they began to adjust them according to the circumstances when the times come. Indonesia's central bank's misery is correct on their part considering that blockchain takes off a lot of control from their hands and increases tax problems in country too but complete ban would bring nothing more than misery to the country as their boat will be the last when the world adopts the ideology of blockchain.
Well I think they wanna gain the control they lost over their own currencies...when suddenly people become billionaires.. and the investments preferences shifts towards bitcoins there is no bank that would not flinch at all.. also this is what the..banks around the oworld wants.but the main thing is will they gain support from the genral public 
Thats really something that one shouldn't neglect and take onto consideration until and ubkess the country they are living in is not a democratic one..
Thats really something that one shouldn't neglect and take onto consideration until and ubkess the country they are living in is not a democratic one..
I think it's reasonable given the fact that most new projects are scams and most people don't do proper research before investing... so the easiest way to protect the majority of the population is to ban the entire industry... shame on all the scammers plaguing the crypto space
The central Bank of indonesia (BI) is very often issue policies that relate to the banning of bitcoin. I guess it has been often heard by many people.
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