Bitcoin Forum

until when will Indonesia be like this?... his government has not given the maximum permission to use bitcoin, whereas, bitcoin has given a new color for the people of Indonesia. bitcoin has changed the economy of Indonesian society.

i read news from indonesia :

Bank Indonesia (BI) reiterated that investments in digital currency or cryptocurrency are very risky. Therefore, BI advises people to avoid investing in this type of digital currency.
Agus Martowardojo, Governor of BI noted, there are currently as many as 1300 types of digital currencies circulating in the world.
The prohibition of this digital currency because it has an unclear underlying and from the side of consumer protection is still very low.
Moreover, according to BI, this digital currency can be misused as a means of money laundering and terrorism.

It is true that the Indonesian government has not yet decided or given permission to legalize bitcoin as an investment or payment, but the government also does not want if the Indonesian currency falls, but recently there has been good news about the future of bitcoin in Indonesia, if you want to know your latest news can open the Oscar twitter, on the last day they were talking about the problem of blockchain.

Here's a photo of them: https://s9.postimg.org/5zi4pjc7z/Screenshot_45.png

The Indonesian government only prohibits any kind of payment using bitcoin because the legal currency is used only Rupiah. However, the people of the country should be grateful because the government does not completely ban the use of bitcoins.

We cannot blame the Indonesian government to accept Bitcoin because as we all know, Bitcoin or cryptocurrency market really are very risky. The Philippines also have the same issue, They the government here doesn't encourage people to invest in any cryptocurrency because of the volatile of its price. But of course, it really depends on the people if they will really invest or not.

They just saying this for people to know the risk they are about to encounter if they join the cryptocurrency.

I really think this is just normal for the government to warn their people.

I read the news on one cool site, they put out in my language all the news that is in the world of crypto currency and then you can immediately decide where the course will go if you understand the basics of trade

we must realize that the government of Indonesia or BI currently not really understand the technology blockchain and bitcoin so naturally they say such things. even once when the CEO of indodax in the meeting with the BI in a television show, and in the event the CEO of indodax has explained a lot about the BTC, and that is not enough to convince them.
so I think Indonesia will legalize BTC when the government or BI plunge in bitcoin directly, because that's the only way that can give a detailed understanding on the parties.

No offense guys but I have a question: what's all this Indoensia talk? I mean everyone asks about their own country but there are a lot of topics about Indonesia all the time. What's that about?

The government of Indonesia should really give their citizen a break. What will they have them do? Since they can't provide for their every need and the people find shelter with cryptos, the least they can do is to encourage them to invest. Take a look at Zimbabwe, most citizens are able to live a good life all because of cryptos. If Indonesia really want to ban cryptos, they should first provide for their people!.

Yes, the digital currency can be misused but that shouldn't be an excuse for preventing them from investing in crypto. Even the popular fiat are also misused too cause some people are good at seizing every opportunity they have in making illegal money. If their government really want to encourage cryptos but are really concern about misusing it, then they should try regulating it instead of banning it.

Maximum permission is allowing Bitcoin to penetrate also your government payment system including contributions and all, you are likely forcing your government to fully accept BTC and the first place, ALLOWING you to enjoy BTC is a big win for everyone, consider also that government has their own reason especially when it comes to security, laws approval and amendments.

Oh yes, they should be grateful because the mighty power that decides what is good and what is bad for them has allowed them to keep cryptocurrencies instead of banning them. :D The government isn't there to decide what people can buy for their money, it's their freedom and their right and the power belongs to them. If they really wanted to be able to use cryptocurrencies, they would, and nobody would be able to stop them.
They shouldn't act like sheep that are being pushed around. The law is giving them enough power to sign petitions, protest in the streets, and take matters in their own hands.
I can understand that a government can refuse to accept cryptocurrencies as the legal tender, but it has no right to stop people from buying them if they choose to.

I'm not too surprised because the reason that issued by the Indonesian government is the same reason mentioned by countries that reject Bitcoin and cryptocurrency as a means of payment,
just respect the reason they say...

the government of the country are just concerned about their citizen and their investment, this is normal, so many things are happening in the crypto space when it comes investment. advice is welcome in as much as it is positive.

Nothing special about it, probably just same topic.

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Yes, you cant use bitcoin for buy stuff or something in indonesia but you can invest in bitcoin. Its still legal to have bitcoin but if you want to buy stuff you need to convert it to IDR. Tho, some online store still use bitcoin as their payment.

FYI, the lastest news from indonesia is Oscar Darmawan (Founder and CEO Indodax A.K.A VIP Bitcoin.co.id) just had a meeting with president's staff to discuss about blockchain and president's staff give a good respon, he post it on his facebook (https://www.facebook.com/oscardarmawan/posts/10160279643880215) .

Well I think governments help people through what they say because investing in cryptocurrencies really is very risky and you can lose a lot of money if you dont know what you are doing. No country can really restrict people from using cryptocurrencies because they would have to close all the network's. They can restrict people from using cryptocurrencies for shops in their country but thats still not going to stop people using them. Also it is pretty hard to make bitcoin an illegal thing since you cannot catch someone who has transferred bitcoin in your country. People are going to sell bitcoin for cash,not online so that at the end bitcoin will progress even more.

it is true what you have said, in Indonesia today has not legalized bitcoin for its reason as you said before. but many Indonesians who invest in dibitcoin, and I think it does not matter to them investors and bitcoin hunters. because at the moment we can exchange bitcoin with currency (rupiah). and I think if bitcoin is legalized in Indonesia, it will make investors and bitcoin hunters feel will be complicated. because it will be taxed by the government and I'm sure big value. then the bitcoin value we have will be taken partly on the grounds for the state tax.

Yes, you say that Bank Indonesia can not fully accept Bitcoin. however, the Indonesian government also did not forbid its people to play Bitcoin. I am Indonesian, and here Indonesians are also free to play Bitcoin. At the G20 summit yesterday, Indonesia was neutral with Bitcoin.

Because bitcoin entry into Indonesia is not allowed by the government, but bitcoin in Indonesia can make the economy slightly different for people who know about bitcoin.Padahal kalo government can legalize digital money like bitcoin greatly help reduce unemployment country itself. , because the risk of profit and loss is their responsibility.

Yeah, Indonesia is just reminding its people to be more careful on investing with cryptocurrency because its really risky. I know this kind of statement is just temporary because later on Indonesia will surely make bitcoin legal and more people can now use bitcoin without worrying about the government though taxes will be there for sure.

there will be a time that the government will accept crypto.. they can try to regulate it but they will never do it

To the extent that Indonesia will impress the digital currency until now can not be known, and I hope it will happen soon, and useful for the people of Indonesia in reducing poverty.

Indonesia is a developing country unlike Japan that has advanced first. Indonesia is wary of the country's economic downturn, the government or BI knows the risk of criptocurency, therefore Indonesia has not legalized this digital currency. Although the government has not authorized this crypto, I am grateful to be able to join bitcoin. Because bitcoin has helped a lot.

Of course, Indonesia simply reminds its people about investing with cryptocurrency. Because there is some risk to invest in it. It can be estimated as a temporary statement. Again, the Indonesian government can issue legal notice to legalize it anytime. Most people in the world now invest in bitcoin without any thought and deal. The government wants to ensure the tax.

their government did not give permission to use bitcoin currencies. and their government ordered to use money from their own country. Their original currency is the rupiah. bitcoin users is very unfortunate from Indonesia. very many users of bitcoin currency. this is my opinion

Never try to read news about bitcoin from Indonesian government, they have always give bad news and information about bitcoin, they have try more time to make bitcoin is bad on investment eyes. Every Time they have make bad news about bitcoin and claimed bitcoin is one of ponzi project system. They always said bitcoin is bubble where you will loss your money when you are invest there. I got when the government said bitcoin is never up to $8000 price in this month.

Yes, the Indonesian government is concerned about the misuse of cryptocurrency in illegal and criminal acts. So the use of cryptocurrency is limited as an investment tool only, as a means of payment is strictly prohibited. However, it should be thankful for cryptocurrency is not strictly prohibited, meaning the Indonesian government is aware that cryptocurrency also has a positive impact despite having a high risk as well.

bitcoin is not yet fully known to people from the state! on this they forbid! but do not worry, sooner or later bitcoin will be the first world currency! bitcoin has already taken a large capitalization of money and very much paid attention to itself! the whole world is watching its movement and development! now in America there is a big conference that will once again prove to the world about the need for bitcoin and the whole crypto world!

but that is not easy to legalize bitcoin and open their mind because the government and BI have not interested in bitcoin and they are always thinking that bitcoin is related about negative activities. as long as the government not totally banned bitcoin, I think the people of Indonesia do not need legalize of bitcoin.

They should copy their neighbour the Philippines who are legalising bitcoin and other crypto currencies. If Indonesia will not permit it, then fintech companies will simply move across the border to set up shop. It is not against Islamic principles so no reason not to encourage bitcoin development

for now the Indonesian government has not yet legalized bitcoin, but the Indonesian government continues to learn about bitcoin, and I am sure in the future bitcoin will have legal permission, because I think bitcoin is very good for the future, in some developed countries there are many who use bitcoin. ;D

I agree with your opinion, nevertheless (Indonesian government strictly prohibits people to use bitcoin / transaction with bitcoin) Indonesia has created LUNO wallet who can buy, sell and study currencies digital, such as BTC, ETH and other alcoins.

maybe this is just information about indonesian government and director of indonesian bank which forbids people to invest in cryptocurrency because many risk,
but unfortunately this post does not provide the address of a news link and this is an error

I've seen a lot of bitcoin news in Southeast Asia this year, which is a good trend to show that bitcoin has begun to spread in this densely populated area, and if Indonesia opens local encryption exchanges, it will have a strong impetus for community promotion.The government's statement in this news is not a ban on bitcoin.

and what they said?

Proof of bitcoin can still be used in Indonesia, which I know that the concern is about investing because it will be risky and will be detrimental. but if still can produce bitcoin in another way without investment why not. and bitcoin problems in Indonesia are still unclear and what I'm doing now uses bitcoin well as long as it can still be used to generate revenue.

You are still complaining at that? Some countries don't have this opportunity you have in Indonesia. At least, bitcoin isn't banned outrightly,that is a glimmer of hope that it will only get better.

I don't basically rely on news or governments policy. Because the national bank or government think of the whole population. I do business on my own risk. And many people from Indonesia also doing so. It's a global thing not only based on one country. I don't know about what the think and saying? I think bitcoin is growing and is going up.

Since bitcoin is not completely ban in Indonesia,prople should thank to the government.So they can inverse in bitcoin as an asset.Only thing is they can't pay the real payments in terms of bitcoin.And this may reduce the usage of bitcoin in Indonesia.

do u have the link of the news??/
i want to read the news
if its true than it will be very much risky

Banks in indonesia has warned not to use bitcoin as it could be problem and can lead to money laundering /terrorist activities. Hopefully they will revert back of the decision soon.

The Indonesian government simply does not authorize payments in digital currencies but the Indonesian government does not prohibit investing and does not prohibit its citizens from participating in bounty campaigns.

Same statement since 2 years ago from BI. We can not blame the government because it is still hindered by the regulations applied by the Indonesian government relating to currency. I am still grateful because the government does not ban but only suggest that we are still free to access bitcoin.

Cryptos are very risky. They're just trying to protect their citizens which isn't surprising seeing as a lot of people seem to think cryptocurrencies are a magical money making machine where you can't lose (protip: you can).

Indonesia banks has banned bitcoin by seeing the money has been used in different ways to fund to others in illegal way like  laundering and terrorist funds .Banks will legalize in due course of time.

Bank Indonesia is just saying that. They are making a statement, they are trying to make people aware of Cryptocurrency world. They are not banning anything. Clearly they are afraid of this Crypto world and they are doing the best they can do. What they are saying is true is a way but not what they are trying to prove is true. Yes, we all would agree that the crypto market is very unstable. But that doesn't mean that we should avoid getting in touch with it. I think our participation can make these currencies more stable.

No, no, you misunderstood. It’s not because the Indonesian government is afraid of its volatility but because the only currency that can be used by the community is Rupiah, even the USD is banned and this has been regulated by the Law means if Bitcoin allowed then it will violate the law.

Your information is very beneficial

Because they are Indonesian and they’re out of ideas to start a new thread so they take advantage of it, that actually many topics can be discussed.

indeed until now in Indonesia still has not neglected sale and purchase of bitcoin currency type digital. However, the Indonesian Bank has eaten a portion of the tax on the Market Sale and Purchase of other bitcoin and coin assets. I think bitcoin in Indonesia is still neutral (between prohibited or not) because there is no law or regulation from the Indonesian government

It is true that Indonesia has not received Bitcoin as a legitimate payment instrument, but the Indonesian government has not forbidden its people to play Bitcoin. And it is true that the person above me says, if the state of Indonesia is neutral towards Bitcoin. this can be seen from the G20 meeting a few months ago, that Indonesia has declared a neutral attitude towards Bitcoin. and In Indonesia who pay the tax cryptocurrency is only an exchange that exists in Indonesia only, and for people who have Bitcoin in Indonesia, it is Free of government tax.

Goverment support or not for crptocurrency for me doen not matter because I think I still here and grow it. Just waiting for the next step of the goverment.

yes this is true, legality in Indonesia has not got it, until now Bitcoin can only be used for investment and can not transaction or buy goods. yes hopefully the future bitcoin can be accepted by the Indonesian government, because really you say Bitcoin has given a new color for Indonesian citizens like me now, I can change my life specifically in terms of finance.

The government in Indonesia might be just cautious of the negative implications of cryptocurrency in their  nation. Like any other nations they dont want this platform be of advange to the criminals and other illegalities. But for sure they are also seing the great potential of this industry to the financial development of their country. So rest assured there will be a good development on the cryptocurrency at this area.

I'm Indonesian, my government just tell us to avoid investing in cryptocurrency because is risky and don't use Bitcoin and other cryptocurrencies as a payment option in our country because of only Rupiah that legal here. You can still invest or buy and sell Bitcoin and other cryptocurrencies in Indonesia but you should ready to take the risk...  :)

Indonesian projects I was very impressed, one PundyX worth. In terms of crypto-currencies and the introduction of blockchain technologies in everyday life, they are well done, honestly I did not expect from Indonesia.

For me personally as a native Indonesian citizen, the government to legalize whether or not Bitcoin here is not a problem. Most importantly for now and for the future, Bitcoin and other cryptocurrencies are not forbidden in circulation and Bitcoin can be turned into a fiat currency.

i also am up to date but some bad news are coming

This issue is always present,  wherein banks will speak against cryptocurrency and will say that it is very risky, this news is always FUDs, we should consider that banks will become obsolete once majority of the global population accepted cryptocurrency, and it is funny whenever they say there are a lot of cryptocurrencies and it can be used for scams, terrorisms and the like, wherein they do not considered therr are also a lot of bank notes (fiat money) being used accross the globe for the same purpose, we should not be discouraged by news like this, since the ones in power will always promote what is best for them and not for all, they are just in that position that they can influence a lot of people, but in reality they are doing what is good for business.

Suggestions of state governments are only concerned with their citizens and their investments. Indeed this is normal because many things happen in the crypto space today when investment comes. 8)

yes the Indonesian government does not take any action regarding bitcoin
they only prohibit transactions using bitcoin

The Indonesian state ban I think because of its fear in the crypto currency that could be misused in money laundering and terrorist financing, but I understand that the Indonesian people are still investing in bitcoin, because it is only a ban which is only a commemorative.

The Indonesian government still observing the situation, it's good that the government not directly banned crypto, but they give the warning to be careful to invest in this risky investment, I think the decision to do that is a normal move make by the government so the people understand the risk before investing

In Indonesia it is not allowed payment transactions by the government. If bitcoin is approved then Indonesia can create a different economy for people who know about bitcoin. Bitcoin can help reduce unemployment itself due to the risk of profit and rugo as their responsibility. 8)

Almost all countries say the same thing, and this is the biggest factor that makes users hesitate to invest bitcoin, I hope that all countries can soon legalize bitcoin for better purposes.

Indonesia is a large and sovereign country, and many tribes in it we can not solve the problem quite once with notice so bitcoin must be patient to use as a means of payment

in indonesia just forbid bitcoin for payment, why is that so? Indonesia already has rupiah currency GOVERNMENT does not want any means of payment other than the rupiah and does not want to weaken the rupiah the government must protect its assets so it is not replaceable

GOOD NEWS FROM INDONESIA:
* there are some observers or consultants from Indonesia who receive bitcoin circulating in my country and appear positive in the media and very helpful to promote bitcoin in my country that is INDONESIA

One of South Korea’s top three cryptocurrency exchanges, Coinone, is launching an exchange in Indonesia. Initially, six cryptocurrencies will be supported but the exchange plans to add more coins. Coinone is also launching an airdrop event for 10,000 pre-registrants.Coinone Indonesia wants to be the gateway that introduces people to the concept of blockchain and cryptocurrency, and facilitates access for users in Indonesia to have various types of digital assets or cryptocurrencies quickly and safely.

It is a normal action of a country. Of course they want to protect their peoples for some reasons likely scammer within the bitcoin field. As you say, considering the risk within this field and we know how actually risky it is. The second reason is being decentralized of a bitcoin which can't controlled by the government of Indonesia.  This was common issue of a county everywhere.

I think the coming years we will see many more governments showing interest in blockchain technology as well as cryptocurrencies. However they may look into impose regulations especially when cryptocurrencies get exchanged into fiat.

That's true i'm not against the decision of the Indonesian government to protect their people of the country to avoid losing of their money investing in virtual currency. but i really believe later on if the government official realized how to help using virtual currency for their economy growth and how to help people of indonesia working in bitcoin hoping someday decide crypto currency become legit.

The Indonesian government currently only limits bitcoin as a digital asset only, not as a currency that can be used like any other currency. For me this does not matter because the Indonesian government just wants to protect its people from false investments. Let's wait until the Indonesian government can legalize bitcoin as the currency in that country. If done now then it will not be possible because currently Indonesia is hit by high debt, and the situation of Indonesia is not conducive because the current government can not perform its duties properly.

I think governments of countries in the world won't support Bitcoin or digital cryptocurrencies because they even don't understand what is cryptocurrency......so for us it is already very good that governments don't oppose cryptocurrencies.

We still need more time.

Bitcoin in Indonesia I think it's more like no one care of it, but is still go on, and it's not getting ban but actually it feels like you can use it but there is no big movement for bitcoin. So, it's kinda lucky as bitcoiners here but sometimes you need to go to another level of bitcoinand you need to see a big movement of it.

as i know from indonesia is the central bank is restict the transaction with bitcoin, which is the government make a polixy that just local currenceis can used for a transaction, and bitcoin for investment and trading is okay in indonesia,

they (Bank Indonesia) fear with bitcoin that their project will down because investor and entrepreneur no more using bank.

Bank of Indonesia is clearly stating that the use of any crypto currencies is strictly prohibited in their nation and like India they clearly declared crypto currencies as illegal in their nation . According to almost all the countries, use of crypto currencies can put their national security at risk because bitcoin being decentralised and having no authorised regulating body over bitcoin and moreover bitcoin transactions does not involve any third party seizure so many social defaulters use it as illegal means like selling drugs, explosives and money laundering and this is the reason they the government of Indonesia is demotivating people from using crypto currencies.

Yess that's true. Indonesian only prohibits kind of payment using bitcoin. so we still allowed to invest on bitcoin.

I  think is much reason why the government in Indonesia not accepting the Bitcoin as payment especially for BI. For example, maybe Indonesian government afraid if citizens get a loss (protecting citizens), and soon. Indonesia needs to draft the legislation, regulations before legalized bitcoin.
But people in Indonesia is still can buy and hold Bitcoin.

this reason is not only happening in Indonesia but in the average country that rejects Bitcoin, this happens naturally because the development of Bitcoin has been very frightening for governments, let the time answer, because I'm sure in the future their opinion on Bitcoin will change...

Based on what I have read, Indonesian superiors have investigated the use of bitcoins on the island of Bali, in the wake of the largest economic central bank in Southeast Asia over the problems raised by real world currencies. There are some residents living in Bali saying that bitcoins have been used by foreigners on the island, namely Indonesia's tourism hub and have the largest expat community.

I think they are just right to educate their people that yes bitcoin is very risky. It is very volatile. Education is one way to inform people how to traverse through the risk and make it better in bitcoin or crypto in general.

The government does not officially prohibit bitcoin

What banned is Cryptocurrency transactions, not a ban of the Coin itself. Read this https://www.tripadvisor.com/ShowTopic-g294226-i7220-k8612496-Indonesian_ban_on_foreign_currency_payments_from_July_1-Bali.html
Dollar ownership is legal but if used as a medium of exchange it’s a violation.
Don’t talk much if you don’t know the truth.

Bitcoin not ban by any other people this is the main special features involved in bitcoin so the government are opposing bitcoin due to some economic reasons but not ban by government.

The government can also be understood. In the first place, this is an income that can not be taxed. Secondly, the cryptocurrency is sometimes used in terrorism and drugs.

I think every country has its own reasons for accepting and rejecting the existence of bitcoin. It is also related to the readiness of the country in controlling the circulation of digital currency in the country. If a country is not ready to regulate its regulation especially for its own country then it will reject it. On the other hand, we can see countries that accept the presence of bitcoin, they are ready to control the circulation of bitcoin in their country.

It can not be denied if until now bitcoin more benefits but not everyone enjoy it. Because many people are still not familiar with bitcoin in depth. Only a handful when compared with the many people in this world. Not only bitcoin that risks for money laundering and terrorism, but fiat money has also proven to be money laundering and terrorism. For this all back to its users.

I am from country India and just like bank of Indonesia, reserve bank of India also clearly stated that they are not responsible for any any kind of loses regarding bitcoin and moreover in the April of month they also banned the use of bitcoin from all the domestic exchanges of India and the reason behind all these prohibition of bitcoin from these countries is also because of illegal use of bitcoinlike in selling drugs, explosives, money laundering etc and these countries don’t want to legalise crypto currencies in their nation and also demotivating people, not to inv st in them.

banks are afraid because their investors are turning to bitcoin or cryptocurrecy as their money saver, since there is no need for additional costs and self-regulating money,

all the news is true, that's the reason why bitcoin is banned in indonesia as an investment tool. to protect its people from harmful investments.
but we can be more careful in investing, so that fear does not happen.

Maybe they are just saving their own currency which is also essential to the country. We all know that cryptocurrency and the natural currency hardly co-exists in many countries so that is the reason why government bans one. To that end, I hope that Indonesia will not fully ban crypto because it can do many things.  8)

My opinion the Indonesian government has its own view about bitcoin. the government is still afraid of the negative impact.
And I think the Indonesian government must be aware that bitcoin can benefit society and government.

is true that Indonesian Givernment banned bitcoin for every financial transactions. But, we can not blaming the government at all because the reason behind the banned is freedom of cryptocurrency that is not regulated by any organization or institutions and this make cryptocurrency very risky.