Bitcoin Forum

Some news Came from Indonesian  say


Are this news if be right will effect in Bitcoin price ???

Source https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/ (https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/)

I think after the ban of bitcoin in Indonesia as a valid transaction tool actually even increase bitcoin users in indonesia because firmly ceo bitcoin company in india firmly say that bitcoin is not a currency but digital object that can be used as medium of exchange. Bitcoin in say is similar to gold because gold is also an item that can be used as a medium of exchange where the exchange rate is not determined by the government.

I think it is still in process the banning of Indonesian central bank to bitcoin, well they are scared of the risk involving Cryptocurrency payments and because of this I think their minds are clouded not knowing the thins Cryptocurrency can do with the process of transaction in their country, well in my opinion if the percentage of market cap towards Indonesia is at large there will be a huge impact involving with the value of bitcoin.

They can do whatever they want, there are other countries that will accept bitcoin

" In his embracive approach to bitcoin, Bangko Sentral ng Pilipinas (BSP) deputy director Melchor Plabasan :

"It’s like any other monetary instrument [and even] an investment instrument. There are risks but essentially, it can be managed. If you want something that is fast, near real-time and convenient then there’s the benefit of using virtual currencies like bitcoin."

In August, the Australian government regulated the bitcoin industry for the first time. This week, new draft laws that offer an easier path for FinTech startups and initial coin offerings (ICOs) into the market has been proclaimed as a “game changer” by Australian Treasurer Scott Morrison. "


they are worried about their political system, seeing many people make money freely is not something that all governments want

the central bank of Indonesia is a banker, and you may understand about what already said by me. As the bankers and the digital currency will against the cryptocurrency and that means the fiat currency manipulator will try to hate the bitcoin. So this will not make any surprise for me about the Indonesia's central bank try to ban the bitcoin. This doesn't give impact to the bitcoin as this time bitcoin gets a little correction.

I agree with you that Indonesian central bank ban or hate bitcoin not affect to bitcoin price so much. One, Indonesia not same as China who hold a huge of bitcoin mining. They can affect to capicity of market. The second, banker not whole of system, they can ban bitcoin as illegal monetary, but BTC is not included of their economy, Indonesian still can buy or sell BTC via ecurrency :) not Indosia Rupiah :3

It's a bit complicated in my opinion,
Slowly the banker pressed Bitcoin adaptors to not use their coin to do the trade,
They said will make a move if Bitcoin adaptors use it as their payment method,which mean they're openly fight against it and they want to remove it slowly by saying it.
What will happen if Bitcoin can not be used in a real life ?
Indeed there'll be another country will accept it,but i am sure there will be another one who will be doing the same like this one.
Well at least it's not determined yet by the goverment,which mean it has a possibility to get used by people if it can show them its value and function.

The main problem is not about them,but the banker slowly made a move and prevent other people to use it.

Correct, there are many countries that accept Bitcoin just like they do with credit cards and PayPal. Other countries fear it and want to stop it.

There is nothing inherently bad about cryptocurrencies so the will of the people will eventually prevail. The countries that lag behind will eventually have to accept it or miss out on innovation. They can’t really stop a grassroots movement that has almost 10 years of momentum.

I doubt any ban by Indonesia will do anything, I can’t imagine that much bitcoin trafing/use even goes on there. Even China couldn’t keep the price down for long so Indonesia won’t.

From this thread I knew that they just pan to start the action against of bitcoin, but there is no necessary legislation to it would be like it should to be. For now it's only words, which we shouldn't scare and start to panic.

Why would anyone give the slightest shit about Indonesia?

And the only people who can ban anything are parliaments. Central banks have no power over this type of thing. All they do is bank.

Even if the information seems true, we won't be experiencing any sort of big price crash or something similar to that, because Indonesia has a growing market whereas China holds a grown market. Recently China's issue itself didn't affect the bitcoin, so this time Indonesian ban too won't affect the growth.

Currently Japan and South Korea are still the lead who had the biggest bitcoin global market in the world so Indonesia will not affect to much as I know their global market transaction still less than 1 % it means that who own or trade bitcoin in Indonesia, still less than 1 million people

Well, I've read it, in fact, they do not forbid bitcoin to be in Indonesia, but prohibit if bitcoin is used as a tool for transactions in a trade or other. I feel the Indonesian government will not ban bitcoin. They claim to use the only fiat to transact. Indonesia has no effect whatsoever so it can't be like Chinese which makes bitcoin prices drop drastically

Exactly, this is how I interpret the news. They are not banning bitcoin but gives warning or prohibits the used of bitcoin as payment method. So its not a outright ban just like China did. Well we have such a big Indonesian community here so I guess some of them will continue to do trade with bitcoin because it is really unstoppable now. We have gained so much momentum that no country can pull back what he have accomplished so far. So they can do whatever they want but as far as we are concern, their will be no dent in the price, maybe a minor price dip but it will be just temporary. And for Indonesian's who are earning through bitcoin by signature campaigns or trading, I think you can still continue because its not a banned but most likely the government just issue warnings about the implications of using bitcoin.

This is like what happen when China decided to ban bitcoin it makes so much noise and speculation that bitcoin will soon die or will be dropping very low but it did not happen instead the value keeps appreciating and reach $6000. I don't Indonesia will ever make a difference with the pricing or it will not affect to bitcoin appreciation what was happening to bitcoin is just a normal fluctuations and no country will ever affects it

I think it will increase price..there are very low chances of getting value down because of this

The central bank of Indonesia which isn't controlling Bitcoin threats to ban it. Seems logic  :-*
And they don't like to see the cryptocurrencies used as a payment method? What should it used to be? A food?
Even the food was used as a currency in order to trade it with clothes,....etc!

This news might not effect bitcoin's price just like how news about arrest in Nepal came out earlier this month hadn't affected the market. Indonesian crypto market is comparatively very small from what I know so it can't affect the price globally. But it is true that it will be hard for indonesian people to trade/sell their bitcoin for fiat and vice versa because of fear of getting caught by authorities.  :(

We want bitcoin to get regulated not to be banned completely without any logical reason.   :-\  :-[

I guess if that country is banning bitcoin, I'm sure it will not have a big effect on bitcoin prices. Furthermore the news in that news quote only ban to be used of payment method and does not ban to use. In that case it means people in that country can still have bitcoin but with record, no support from the government and also government in that country does not say bitcoin is illegal.

I think it will increase price..there are very low chances of getting value down because of this

There isn't going to be any effect on the price, Indonesia is not a big customer of bitcoin by globally charts, they are not even a 1% of all the bitcoin usage all over the world, it is not going to affect anything.
There are been some little countries that did the same, and the price haven't move a single penny after those kind of news.
So stop creating fud, or at least, stop believing on them, because a lot of new users in here are feeling tempted to sell before this "ban" is released.

I do not know if this is the correct news or not. Not long ago, I read a news article, and it says that indonesia is a very bitcoin-friendly place. This is ridiculous, I think we need to verify its accuracy.

China was a massive player in the pre PBOC action days, where people till this day still think China is a very important factor when it comes to Bitcoin. The market went down, but it has gone up again to even higher levels.

I think this was the push the market needed, because Chinese exchanges not being part of the game anymore, means that whatever regulations against them will not affect the overall market anymore.

It wasn't coincidence that each time the price went up in a decent manner, the Chinese government stepped in and forced through certain regulations that on their turn were constantly affecting the overall market negatively.

It was a relief to see Chinese exchanges not being active, but they will slowly make their comeback. Huobi is the first to kick things off, and I'm sure that it won't take long before other exchanges show up as well.

I can't see this having any effect on the price at all.
We're higher than we were since the China ban.

Maybe for a moment it well affect the price of bitcoin but just a little but it will still recover since there are other countries that are starting embracing the cryptocurrency and legalizing it.

They've been pretty anti-bitcoin all those years so this does not come as a surprise to anyone in my opinion.

Still though this could potentially drive prices down if an official ban on bitcoin is imposed. Right now, they are threatening to act upon bitcoin users but i don't think that they are actually enforcing that just yet.

Indonesia isn't that big of a market anyways, compared to other asian countries.

I'm indonesian and that news is not that big here in indonesia. To be honest, bitcoin is not very popular in my country and there is still no official news about indonesia ban bitcoin. Even if indonesia ban bitcoin, bitcoin user in indonesia will still use bitcoin.

It really is unfortunate that all these countries are taking a hardliner stance against bitcoins and crypto currencies. It surely is a threat or a perceived one at the minimum to these governments.

All these bankers can do now is try to threaten people. They can never ban Bitcoin.

It is not banning bitcoin, a lot of people is misunderstood this news, bitcoin cant be used as payment in the store because the government hasn't legalized bitcoin, but the government not forbid you to keep it as  investment or used it for trading, so the government not banning bitcoin

I don’t know if your asking with this or just pointing out that the answer should be “banning can affect bitcoin price”.
When you posted it, you ask for our opinion and everyone is so optimistic that it won’t make changes on price but here you are questioning they’re position on the matter.

In the first place if you know the answer why would you ask for it. I have the same answers with them and I know that will be a question mark from you. It is our way of thinking. We are positive than being negative about it.

Even if it is true,it would not have any significant effect over bitcoin price as indonesia has just now started to use bitcoin and it has not yet contributed for bitcoin progress like japan.It would only have a very less share of bitcoin.

The indonesian central bank seems to follow china blindly without any analysis.Instead,it could have followed the stand of another south east asian country japan.

Even the dominant china's action against bitcoin has not been able to make an impact on bitcoin's price,we need not have to worry about indonesia's stand.

Bankers started fighting against Bitcoin with their ban, but I think Bitcoin ban in Indonesia is not very influential in Bitcoin price because Indonesian society can still make investments and trade bitcoin

Right now even though it was just a threat, the Bitcoin demand and price will be affexted negatively. But the affect is not great and will be recovered. This is because Bitcoin has already proven it's ability to absorb these big news and still manage to survive and not drop it's price. The event that made it proved is when China banned it. We can really see to it that even a big country has gone in the market it can still stay strong in value. And now even a smaller country might do the same, Bitcoin will most probanly overcome it easier.

in my opinion bitcoin will decrease if there's a huge demand of supply from there country . In this Scenario after indonesian  get banned i see that it fall a little bit not the same when china decide to banned some of there supplies. I think the demand of supply  from that country is not huge that cant fall deep the value of bitcoin now adays. As of now bitcoin is always fluctuating maybe later it will increase  again.

The price is still hovering within a few % of the ATH. I would say that this had very little affect on the overall price of Bitcoin.

Current biggest market still Japan so Indonesia doesn't affect too much !
As I know bitcoin enthusiast at Indonesia still quite low but the demand getting increase overtime but not as much as other country

I think it wont affect the price of bitcoin because a small country like Indonesia and its user base is not that great and there are big miners in Indonesia unlike what happen in china.
True or not i still think that i wont move the price of bitcoin just by banning it in one country.

Indeed I really know about this, because I am included the citizens in this country. But I don't think this can reduce bitcoiners in Indonesian, even still many miners from Indonesian are still doing mining and not only that.. many investors are still investing in bitcoin. Indeed bitcoin is banned to be used as a method of payment, but doesn't banned to buy or sell it to local currency, of course I think this is not so very influential on bitcoin price.

I really don't see any drastic price movement that can attributed to the Indonesian ban. Although they are very much active in the bitcoin scene, they haven't really that grasp on any significant market movement so I assumed that there's no effect, or to an extent maybe minimal and unnoticeable. They are not as big as China to really put a significant dent and negative news in our ecosystem.

Maybe if Indonesia really prohibits all activities related to bitcoin I think this will cause a price reduction in bitcoin. small countries can be very influential if the government stops everything. The Indonesian government is only afraid of its citizens who feel the loss of bitcoin. because of the huge digital asset bitcoin.

This will not affect the price of bitcoin, we have seen a big player in the market that has banned ICOs and exchanges, I'm talking about China that's even more giving a big effect to the market but it only happened for a while.

Indonesia is not seeing the good side of bitcoin, they are against to it probably their banks does have their own agenda or they can see bitcoin as a threat.

But I'll laugh at them if for the next months or years they'll accept bitcoin again.

Not only indonesia, after a long period of free activity, bitcoin is officially banned in my country, anyone using it will be prosecuted for criminal responsibility. It is a very difficult task. I think we need to take measures to use it secretly. However, the value of bitcoin is not affected when small countries like us banned bitcoins.

Being  a digital currency many countries have several doubts and other problems about bit coins so some countries ban bit coin which is a common thing but if we look into the probity of the matter it will have not a big impact on the prices of bit coin as other countries are also accepting bit coin as a legal crypto currency.

It is interesting that they would only ban it as a means of payment, it seems as if they are okay with bitcoin as long as it does not undermine their own currency.