Topic: Indonesia’s Central Bank is Planning to Ban Bitcoin in 2018 - page 7. (Read 1532 times)
If the government really wants to build BITCOIN in this country the purpose is clear to solve the economic problems in this country, I agree if it happens in this country because it will have a positive impact on the people and that will definitely reduce poverty in this country. But what if BITCOIN will be disposed of the community will get poorer, if the field of work is not much and difficult to find a job, which adds unemployment, who do not earn.
USA, China, and now Indonesia? Seriously?? could this be another FUD?? Doesn't matter if they ban it actually, people will find another way to buy bitcoin and learn another way to cash it out. I hope this news wont affect bitcoin later 
Central banks know bitcoin would allow people to pay for things electronically with lower taxes and fees than is possible with their own banking systems. Bitcoin could also boast quicker transfer times, higher reliability and greater protection against identity theft, electronic attacks or hackers in comparison to competiting services offered by central banks.
This has nothing to do with "unhealthy business practices". Its central banks being afraid of competition. They're scared bitcoin could do the same job they do at lower cost with higher reliability and speed. Central banks can't compete with bitcoin and so banning btc is the option they are pursuing.
There is a precedent for this in africa where bitcoin was trading as high as $30,000 per bitcoin due to africans preferring crypto to central bank electronic payment systems which typically have hideously high fees, poor service and are uncompetitive in comparison to btc.
This has nothing to do with "unhealthy business practices". Its central banks being afraid of competition. They're scared bitcoin could do the same job they do at lower cost with higher reliability and speed. Central banks can't compete with bitcoin and so banning btc is the option they are pursuing.
There is a precedent for this in africa where bitcoin was trading as high as $30,000 per bitcoin due to africans preferring crypto to central bank electronic payment systems which typically have hideously high fees, poor service and are uncompetitive in comparison to btc.
Bank Indonesia bans bitcoin, bans if it is used as a medium of exchange because in Indonesia there is only one legal means of exchange and recognized by the government that is rupiah, so it is reasonable for Indonesian authorities to block bitcoin if used as a medium of exchange because if it happens then the rupiah exchange rate will weaken , and it is very dangerous for Indonesia's economic stability, bitcoin can still be used as an investment commodity such as precious metals and share letters, but whatever is in the mind of the government in 2018 to address Bitcoin, I hope that the government can support the existence of bitcoin, because after all bitcoin has a positive impact on business actors there and also boosts economic growth, although not much and not directly.
It seems that they are trying to get rid of all threats that could potentially threatening their local currency, they just too aware of nothing, bitcoin is digital currency, if internet is not fully covered the whole country, seeing that indonesia is 3rd world country with low internet coverage, there's nothing to worry about. Even the 24h market volume still low there, why bother.
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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.
I'm taking that as an aspect of news that will soon drive the bitcoin market some time next year either to bullish or dipping, and or, it might not make any negative impact to the movement of bitcoin. Indonesia should take a leap from China who has been trying to come back to there hold on icos etc.
Another example of a wrong individual given power. One man's views can influence others under him sadly what his views are flawed as he is protecting their own fiat currency just by banning Bitcoin as a payment method. He should be replaced by someone as their is no physical evidence that Bitcoin is really affecting their economy badly. Now Indonesians will be forced to travel other countries in order to convert their Bitcoin to Fiat currency. This mans are all claims with no factual evidence claims that Bitcoin is affecting their industry and economy can be laughable for people who really know what they are talking about.
They have already decided it and there is nothing new in that news.Central bank of Indonesia has said that severe actions would be taken against anyone if found using bitcoin.I think they are just following vienam,Bangladesh as role model.Instead they should take Japan as a good example to make use of bitcoin.They don't have any big role in bitcoin market and so,it would not affect bitcoin progress in any way.
Great, another one of these.
No matter how much banks and governments try, Bitcoin cannot be stopped.
They can declare it illegal all they want but it can still be used with an active internet connection no matter what. And it's not like any institution can find out about it either.
I guess the only problem is businesses but few of them want to accept Bitcoin right now due to its problems.
No matter how much banks and governments try, Bitcoin cannot be stopped.
They can declare it illegal all they want but it can still be used with an active internet connection no matter what. And it's not like any institution can find out about it either.
I guess the only problem is businesses but few of them want to accept Bitcoin right now due to its problems.
Looks like Indonesia wants to buy more Bitcoin...
I don't think they are going to go through with it, and even if they do Bitcoin is very censorship resistant. The people will still find a way to utilize the technology somehow, and the country will be left behind in the blockchain revolution we'll probably see in the next decade or so.
it is very unfortunate if it happens because we know bitcoin users in Indonesia is very much, do not let them move the bow just because what they have is prohibited while other countries can accept, I think this need a special study from the government again about 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.
I don't think they are going to go through with it, and even if they do Bitcoin is very censorship resistant. The people will still find a way to utilize the technology somehow, and the country will be left behind in the blockchain revolution we'll probably see in the next decade or so.
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.
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