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Indonesia’s central bank, has threatened action against bitcoin and say


Source of news 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/)

all things are definitely risky but it should, I think Indonesia should have a foresight as well with this bitcoin. certainly should be able to follow the country that has legalized bitcoin and know the rules so as not to contain too much risk. so Indonesia is able to legalize bitcoin without thinking about the risks it carries.

I think now days countries are not ready to accept btc as they cannot regulate this space and would not like such things to exists which is not owned or controlled by them. Due to which the ban is being placed and I think this is a bad thing from the bitcoin space for future if it continues this way only.

I think it's merely a warning that lacks effective enforcement. Still it's outright stupid by Indonesia taking a Bitcoin hostile stance considering that especially emerging countries have the most to gain from financial innovation in that regard.

doesn't look like the world central banks are too keen on letting their power and control over issuing currency slip out of their grasp.  they're colluding to limit the power individuals have outside of their system and we're going to see more countries begin to implement the same restrictions across the globe before Bank of International Settlement (BIS) issues their own universal digital currency in 2018. 

A country like Indonesia is starting to fear a large number of bitcoin users. they start to ban exchange sites and will do more in future.
bitcoin is more stronger than to be stopped by small country

every country has its own policy, some will regulate and embrace bitcoin and  some are not. most advance country are  capable and easily understood the importance of bitcoin as cashless system to their citizens, mostly in Europe they are now launching a Bitcoin ATM what i observed that countries with terrorist prone area like Indonesia are fearing to adapt bitcoin because they think that bitcoin will be exploited by the terrorist group and that's my opinion. Central Bank concern as just secondary.

Authorities are probably trying to sort out a method or regulatory system for now, and they feel that the growing transactions is making it hard for them. They'll change their mind, just wait.

It's a warning, it doesn't say anything about banning the use of bitcoin.
As we can see at the last words, it says " We see using bitcoin as a risk".
It's okay, most of the countries have announced that bitcoin is a risky investment, it doesn't mean that they have banned it, it just says that they want to give a warning to their people, but can't have a solid statement on the coin right now.

This is way too common statement by any bank. Banks are warning people about cryptocurrencies since ages. I am bored of it now. They only have warned and haven't yet imposed any rule against Bitcoin. So, I don't think people who understand Bitcoin at all would fall for that. Banks had been wary and will be too unless Bitcoin proofs itself in financial landscape. These banks who are today warning people will themselves be inheriting Bitcoin in future.

Its risky because they will not support it as a currency they have fear to use bitcoin that maybe in the future banks may collapse because of bitcoins.I cant see any reason why some governments ban using bitcoins it only needs to regulate.

Ahhh, governments trying to protect the 'best interests' of their people and acting as if they care. Using fiat also carries risk—heck, it carries more risk when transacting with large amounts. I remember one time back in 2016, I was buying an expensive watch for buy and sell when suddenly a motorbike pulled up in front of us and I was held at gunpoint. That is in front of a freaking restaurant with 2 armed guards roving around the restaurant's perimeter. The timing of that was so precise that they took the watch and the money without the guards being alerted. Luckily, a police checkpoint was way ahead of them just a couple of blocks away from where we're at and they were arrested immediately. With bitcoin, I can carry tens of thousands, or even millioms without having to fear for my safety. The only thing I should be aware of is if the machine I'm using to transact is not compromised by any malicious software that could steal.my money.

I think they are not banning bitcoin or cryptocurrency per se. They are just giving its citizens a heads up regarding the risk of involvement in bitcoin. Each country has different policies regarding bitcoin and Indonesia seems to be on the gray area for now, but totally banning it just giving a warning to its constituents. So there's nothing to be afraid of from their declaration. So if you are a Indonesia, which I think there are a lot here, you don't need to worry from your government. They have given you fair warning about the risk involved, it is up to you if you are willing to take that risk or get out of the ecosystem system now.

Exactly, and I believe it'll be ignored by the hardcore bitcoin users, and will
certainly do nothing to deter those who earn bitcoin, say, from bounties and such. 
This is just like Jamie Dimon saying he thinks btc is a fraud.  It's just words. 
Indonesians probably trust banks and government about as much as Americans
do, which is not at all.  And certainly the bitcoin using population won't trust either
and won't listen to such naysaying.

Not a great news, soon other similar third world countries would follow its steps to against cryptocurrency and it's very likely to happen in months or even weeks. What can we hope is their government would issue something more like a 'soft ban' rather like Bangladesh that jailing people from using it. Centralized decision are pretty selfish always, the richer would be always richer by restricting others to gain their own fortune, how difficult it is for their people to have another source of income legally without being harassed or live with pride? I think those with powers should regulate cryptocurrencies to prevent fake/scammy ICOs and embrace technology as whole, not going backwards with their monopoly business empire.

What the fuck kabayan? Is this for real?

Anyways, I agree with your point. Even fiat has more risk than bitcoin. I guess that Indonesian declaration was just a means for their Central Bank to somewhat step up because Indonesian are also a big bitcoin community out there. And I'm sure one way or another the government of Indonesia can't ignored the fact that bitcoin is gaining popularity in their country. Risk in bitcoin and fiat are always there. It's up to the individual on how to mitigate that risk. And if you know what you are doing then I don't see any reason for you not to transact bitcoin inside and outside of the country. And you have to thank the Central Bank of Indonesia for making such statement at least to quell the speculation that they are anti-bitcoin, which is not.

I think it is not a ban on anything but the Indonesian government has done a great job and has informed it's people to be aware of any kind of dealing in bitcoin. This is like you can't draft an agreement with declaring bitcoin as a mean of payment.
They have just declared it that bitcoin can't be used as an official payment. I don't think that it's a great matter of concern to bitcoin users in Indonesia.

That doesn't even make sense as a statement, really. It boils down to "We don't recognize it thus everyone should make sure that they aren't using it in a way that we don't want them to". It's not like a statement that is as vague as that is something people will actually recognize, at least in Canada no-one has ever responded to something as weak as that with anything more than a shrug.

I'm surprised Indonesia cares so much, but, according to the title of the article, they seem to care a lot more than one would think.

Probably another instance of trying to control the internals of a country by controlling their currency with a tighter fist.

the title is too extreme, not like that actually.
the Indonesian government simply does not recognize bitcoin as a means of official payment, not bitcoin ban.
because the official payment instrument in Indonesia is only IDR.
everyone also knows that bitcoin has the risk of being stolen, therefore the government is not responsible for the loss of bitcoin we have.

It is true that there are risks, but I think that some risks are manageable in bitcoin use. I imagine the start of credit cards and other online banking and online payments, how these things also faced skepticisms and oppositions before.

I guess we all know that already that having bitcoin is a big risk at all, especially if you put all your money into it. Nothing is complicated if you know how to handle things with it, on how to manipulate abd how to make things worth with bitcoin at all.
And so many banks forsee that bitcoin is a big threat to them so they jumo to conclusion of making a negative news with bitcoin now.

At my country, after 1/1/2018 if use or provide altcoin is illegal. So maybe government cope up with cryptocurrency hardly. I dont care about them. But i really want sell, buy, trading cryptocurrency as legal way. Our government cannot control this market so they ban. LOL

The Indonesian government forbids bitcoin to be used in direct transactions because to keep the rupiah exchange rate, because if bitcoin is used in a direct transaction it will make the rupiah weakening and even no value.

So now Indonesia has stepped up to ban bitcoin. Bitcoins decentralization making it not possible to regulate bitcoin by any government or organization, maybe is striking a good fear in the hearts of the government. It's good to see how governments are fearing the potential and power of bitcoin and to stop the spread in their nation, they are trying to ban it. But i don't think that's gonna change anything, people would still continue use of bitcoin using VPN's.

They just want to ban the bitcoin as a payment method because it impose such risk and volatility because they are not ready yet to adapt this kind of currency and it can be a tool to used for scamming and stealing. But at the same article Philippines already legalized and acknowledge the use of bitcoin by the Philippines central bank issuing a regulation to its exchanges. well i hope some countries in Asia also follow this step. on another page Indonesian central banks threatened by this currency not just because of its negative features but because they fear it will replace their businesses.

That just means that the Indonesian Banks are aware of the potential of BTC and are threatened by it. Scaring people is their way of shutting down bitcoin users in their country. We all know how the government works, they disapprove anything that they are out of control and those they cannot profit from. Besides, this is what banks always tell people. They always present the bad side of btc as if fiat money has no negative features. Anyway, I don't see this as something to be worried about because I believe that each of us here already knows the risks of btc.

I think that is not a ban, it's just BI doing its duty that official payment in Indonesia is using Rupiah, BI just want to give explanation To the citizens that they do not intervene on risk and negative impact of bitcoin

that's true, I know that the country is not prohibited from using it, but it commemorates the citizens about the risks of cryptocurrency technology. So in other words, the government allows to use but please bear its own consequences. Besides, although in the country forbid bitcoin, I don't think it has a big effect on bitcoin. because the country is still a developing country and has no major contribution to the development of bitcoin.

The indonesian govt wants to maintain control over every economical aspect that their citizens are involved with, the govt doesn't have a way of generating income from Bitcoin, therefore, the ban was bound to happen sooner or later.

That's what a corrupt governments does, they criminalize every activity they don't control and profit from. Once they realized they were left behind the rest of the developing world, they will unban btc.

Oh, and the statement comes from the Central Bank, just like the rest of news we've heard over the past months, corrupt central banks in asia (China, Indonesia, Vietnam, South korea) are becoming aware of Bitcoin and its implications and have decided to act upon it. Bastards.

This decision of banning Bitcoin payments coming from the central bank has caused exchanges like Bitbayer and Toko Bitcoin to shutdown its operations. Bitbayer has officially announced that it will shutdown all its operations starting from the 1st of November and existing users are requested to withdraw all its funds by the closing of this month. Took Bitcoin too is said to have followed the same line of action like Bitbayer.

Another country has understood what this threatens and introduces a ban. Very good, I believe, this will knock down the record bitcoin at times and people will think.

The price for a Bitcoin is quite high but users do not have to buy a whole dong. In addition, the potential of this virtual currency is also great.

According to the news that I read, the shutdown was not due to an intervention by the Bank of Indonesia but rather an independent and voluntary decision by the companies. The bank of Indonesia statements just mean bitcoin is not official payment system but still can be used by anyone.

Politicians play this card all the time, they try to ban things by playing the this is for your own good card, it is obvious that at the moment there are many scams going on on bitcoin no one is going to deny that but only a handful of people are going to fall for this and the rest are going to benefit with the use of bitcoin, but we know they are forbidding bitcoin for their own benefit they do not want bitcoin to win any support in their country but the truth is that is beyond their control.

sad to know that the country you mentioned are totally has no intend to adopt/accept bitcoin as a digital asset/currency to be use on that county. but we didn't hide the truth that all kinds of investments projects are has a high risk to grab, I think they don't know the real facts and the real benefits of this bitcoin on their country if they implement this. don't worry sooner or later they realize that they need to accept this bitcoin because of its benefits on us people.

While it may have some influence on other countries, I don't think that there can be a trend for countries to ban Bitcoin and cryptocurrency. It is just a number game meaning that some will be open to Bitcoin and there would be some who are close-minded enough not to allow Bitcoin to enter their respective jurisdictions. And we have no choice but to respect these countries since they have the sovereignty of their own.

We  have to remember that Indonesia is dominantly a Muslim country and I can sense that many of these countries are doubting and fearing as to what Bitcoin can do to their country since it is beyond their own control and influence once they let it come in. Maybe it is not yet time for Indonesia to be a part of the Bitcoin club and hopefully the right time can be coming in the future. Anyway, what is important for now is that Indonesia is not yet an influential part of Bitcoin and its rejection of Bitcoin will just be taken as an ordinary story.

No need to panic at least at this stage. Because the ban or warning is against the bitcoin being used as currency or mode of payment in the Indonesia. It does not mention that purchase, selling, holding of bitcoin as illegal. This gives a hope for people from the Indonesia that they could still use the bitcoin as tool or investment. Only problem is they might not be able to use bitcoin as mode of payment. It is ironic that Govt has banned a currency in a country from being used as mode of payment. However they have not made holding, purchasing, selling of currency as illegal.
Till bitcoin selling, purchasing, holding is not a crime is a country one can enjoy major benefit of it. Majority of People are not using bitcoin for payment, they are using it as investment.
So lets remain calm at this stage.

This has been brought up before. To clarify, nowhere in the statement does it actually say ban. What is prohibited is to accept is as payment. This is only natural, as has been the same, unchanging stance for the central bank since 2014. This is exactly the same as with neighbours Malaysia in the same year - both central banks are historically on the same page when it comes to digital currency. They had the exact position with e-gold a decade before this, and with Paypal years earlier.

All these positions have actually been the result of use by groups linked to pyramid/ponzi/hyip schemes who use these currencies/payment processors.

Since 2014, not a single action has been taken against those using the prohibited currencies for personal, OTC, or private transactions. All known exchanges are still operating today, and localbitcoins volume has not been affected.

So don't worry. If you aren't doing anything naughty, you're good.

They should have atleast given them time to convert their bitcoins into fiat if this law will be long term, they should refrain from using it for the meantime.
Glad to know that they will give time to withdraw all their funds. Let just wait, if a bigger country will be opened on Bitcoin and advertises it to other country, then Indonesia will surely think about their decision regarding Bitcoin.

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EDIT:
Thank you for Clarification, then after all the Indonesian Government just doing nothing for their law? Therefore the Law is just for "person who used bitcoin on bad activities" ?

Indonesian seem to be the most active participants of any ICO.. So Indonesian ban might have quite advesary  consequencies

Well not every country really agree with bitcoins system or the idea of digital currency because i think it is a threat to them their being cautious and vigilant only because as you know bitcoin can be used in every transactions and it doesnt apply the term traced because it is anonymous. Theyre only preventing the mass damage or the crime acts as possible

First off, good article. I agree that there is definite risk in the bitcoin market, which is why, many governments and countries are very reluctant in including bitcoin in their market because of those risks. While other countries are pessimistic, others are optimistic as well and have already allowed bitcoins to penetrate their markets. I think it depends on the how a country views bitcoin usage and the advantages and disadvantages it can do to their own market systems.

Maybe the heads up they need to be giving us is the risk involved in holding fiats or their centralized currency. In so many countries, people have suffered from the government's hand based on the ways they have manipulated things, controlled the people and their standard of living and make the less privileged suffer for it. Well, the time is getting over for them and now, they should better start expecting so many things changing and start realizing that people are getting wiser by the day as we are going to take the power stolen from us a long time ago away from them.

Indonesia ban bitcoin as method of payment and they have a big reason that's why they take an action about this. Based on the news of CNN early of 2014 the central bank of Indonesia issue a public notice that giving warning to there own citizen to be careful in using virtual currencies as method of payment. Meaning since 2014 bitcoin is illegal currency  including other crypto's in Indonesia and it is not valid currency of payment instrument in any transaction conducted of any person using bitcoin in Indonesia. These reason why Indonesian government keeping ban bitcoin and any crypto currencies  is to protect there own legal currency and avoid unnecessary transaction through illegal activities in digital activities.

Well this seems like just more FUD that has been coming up the last few months. I dont know which country will be next but seems like every other country is going to spread FUD about bitcoin. However they will accept it in future because fiat will not be able to run the economic needs to the people as the time passes. So then they will also swallow their words and accept bitcoin.


This may the case that the government wants people to be careful of their investments in the crypto market and that is why they released this article.

However I still a feeling this is just more FUD.

That blows. At least they are not banning the use, just discouraging it. It is true that it is risky for non-tech savvy people. Maybe they just do not want their citizens to be victimized by scams. Those who are already using it can continue to do so.

What I get from this is not that the government necessarily wants to ban crypto in Indonesia, but the big players in banking and lobbyists are pushing to make it illegal to keep their monopoly on the finance sector. They do not want to see something like Bitcoin or another crypto take over their business like robots are doing to lower-class workers these days.

Ah, it makes sense now, it all boils down to greed and personal gains and that has been the problem of many around the world especially the corrupt guys who don't like competition and will fight tooth and nail to push their agenda at the expense of the masses.

Most countries prefer ignoring the mere fact that btc exist and are currently more and more used. Seems that in Indonesia, the government has made it an official statement but actually in general bitcoins are not really acknowledged, rather tolerated.

For the moment, bitcoins are quite linked with the deep/darkweb but as the use of this money gets larger, government will no longer be able to ignore it or even refuse it as means of payment!

 Indonesia became the latest country  to ban the use of the Bitcoin virtual currency.Since its launch in January 2009, the digital currency has grown popular with those with doubts about using the traditional banking system. But there are also concerns that the system is being used for money laundering.“Bitcoin and other virtual currencies are neither currency nor legal payment tools in Indonesia. People are advised to be careful about Bitcoin and other virtual currencies,” the central bank said in a statement.

Indonesia not ban bitcoin, Indonesia just not legalizing bitcoin but not mean bitcoin is illegal. bitcoin user in Indonesia still allowed to earn bitcoin and bitcoin users should accept all the consequences when they try to invest their money in bitcoin..

It seems that Vietnam too has banned bitcoin as a mode of payment (link (https://www.cryptocoinsnews.com/vietnam-bans-bitcoin-payment-method-adopters-face-9000-penalty/)), but the good thing is they could still buy bitcoin and hold them until the ban gets lifted. But seriously, those guys need to realize that using fiat has risk too and that is no different than using bitcoin as payment.

The topic is very sinister than the fact.
I think it's unwise if the ban is said to be a threat.

while the title of www.cryptocoinsnews.com is "Bitcoin Banned as a Payment Method, Adopters Will be 'Dealt With': Indonesian Central Bank"

The purpose of the prohibition is as follows:
1. It is prohibited to use bitcoin as a method or means of payment, for example: we buy something and pay it using bitcoin directly (not rupiah).

2. BI will take action against the bitcoin adopters, for example: Stores, Supermarkets, Banks, Markets that serve the payments with bitcoin directly.

But, this prohibition I think doesn`t apply to bitcoiner Indonesia, because the means of payment used by bitcoiner is Rupiah (not bitcoin). The Rupiah is obtained from the sale of Bitcoin in the wallet-online, from the proceeds of the sale, bitcoiner transferred the amount of rupiah into a bank account and took it using ATM.

The government only ban bitcoin to be used of payment tool and the government does not ban to have bitcoin, so bitcoin can still be owned and the government only reminds us to remain cautious to use bitcoin of payment tool because according to the government bitcoin is still not safe and unfit for use of payment tool. I personally don't care if the government ban bitcoin just for payment tool, we are still allowed to own and store bitcoins.

That's what i thought when i readed the thread, but after taking a look at the original article i found that OP forgot to quote the most important statement which is: "The head of Bank Indonesia, Indonesia’s central bank, has threatened action against bitcoin adopters if the cryptocurrency is used as a method of payment."
Bank Indonesia is threatening any one that accepts Bitcoin as payment method. Such statements will, for sure, have an impact on Bitcoin value.

most likely the rule was made by the Indonesian government to anyone who made payment transactions using bitcoin without first switching to local currency that exist then it could be very risky and violate the existing law because the official payment transaction tool in Indonesia only use rupiah instead of bitcoin .

But some say that bitcoin is prohibited only for the means of payment because it is required to use their currency is not bitcoin for buying and selling bitcoin exchanger Indonesia is still operating

All I'm saying is, the typical Bitcoin user should have nothing to worry about. These central bank warnings are not new in our part of the world, and serve as cautionary advice to people unfamiliar with it - as they are usually hearing it for the first time as a "get rich scheme", and then when they lose their funds they turn to the central banks, who in some part guarantee the safety of funds stored in regulated banks (BI and BNM for example guarantee all customer funds in banks, up to a certain limit).

Of course there is always a risk when the government steps in, but if they really made moves, you'd hear it first from the exchangers you're likely using. Luno and Localbitcoins come to mind. The motives behind these statements are unclear, made worse by media who don't understand them.

In worst-case scenario, the banks will want to ensure citizens have a chance to act before just seizing anything to avoid fallout.

This is the kind of "oficial" statement central banques are issuing around the globe. The countries have rules and the monetary system as well. Here in Portugal our central bank issue something similar trying to stress out "the risk" of crypto as it is not regulated nor considered a valid currency. What i see a little diferente here is the "threat" to the adopters. Do they mean it? or is it just FUD?

Another FUD to bring price down so that they citizens can buy it at cheap prices!  I will hold my coin as I did not see any risk in it. Bitcoin has been surviving without any support or suggestions from our governments and central bank. Indonesia is not even all that popular with bitcoin and others cryptocurrencies. This attack will continue but one thing that I used to encouraged myself is that bitcoin is a discovery and with time our governments and leaders will come to see it as a helping tools to humanity intead of treating it as an enemy.

yet another bitcoin ban story.
i wonder why the likes of indonesia are moving in the opposite direction to japan and australia?
there can be benefits to adopting crypto as the report states about australia who are looking to attract fintech startups,
they obviously see a benefit to their economy from it.

This is just normal, since bitcoin is just new to them, central banks will make sure that they understand how cryptocurrencies work, i think there should be a word from their government bannig bitcoin itself, rather than the central bank, though it is ruled by the government, the government itself still has the final say for it. This is always what happens to countries who recognizes bitcoin, their central bank will first try to regulate it and we might see it happenig in the future, considering thr fact that its nrighboring countries welcomed bitcoin, and is being used now.

I just now got this knowledge that bitcoin was banned in indonesia.But i hope this is not gonna make any big defects in bitcoin value like what happened in china ban.This is because the china is most populated country and an well devoloped country in technology field so many people will use bitcoin in china but in indonesia its is not a big country and it is devoloping nation i think there are many people in indonesia don't know about bitcoin so it will not be a problem for bitcoin,but it is problem for their country people because the bitcoin will help the people in devoloping the living style.

I just saw this news thread now but the report mentions
that the initial announcement was made back in 2014
so i take it the central bank there is re-issuing its warning.

Maybe Bitcoin is actually getting more popular there?

Anyway as with the China ICO and Bitcoin ban it will not
have a negative effect long term.

I think it means Indonesian people not use bitcoin to payment but they must transaction with rupiahs. So, Indonesian people can change bitcoin into rupiahs with exchanger :)

That reads to me as there is an inherent risk associated with bitcoin its just a warning not a outright ban on bitcoin.

i have just read about that news but i want to remind you all that bitcoin is the decentralized currency and no one can affect the rate of bitcoin because we can see the example in previous history like china. they has also tried about bicoin banned but it had no affect on bitcoin rate.

bitcoin not baned in indonesia
all indonesian people still can use bitcoin, local exchanger still open without problem , indonesia central bank just forbid bitcoin use payament method

I think they are just renewing the 2014 argreements in which the indonesian government banned cryptocurrency as methods of payment.They did not totally banned bitcoin in there country but they are just allowing their citizen to earn bitcoin through encashment instead of paying it directly.

I think Indonesian ban did not that affect on bitcoin as Chinese ban did, I think Indonesian Govt. did not take bitcoin as an opportunity.
BTW Indonesian currency is one the down currency in the world, I think this is only reason to ban the Bitcoins.

Funny, I would even say that the likes of Indonesians are the ones I normally see accepting Bitcoin.

By the way, I don’t think they did anything wrong or maybe banned Bitcoin. It says they banned Bitcoin as a payment method, and not that they banned it as a whole. Well, in my own understanding, they were right, bitcoin is never a payment method but just an investment. People are taking this too far.

I think bitcoin is now used to with these kind of banned because when china banned bitcoin so that was a very hard for bitcoin and the way bitcoin fight with this banned I will must appreciate bitcoin and now it’s not a very big challenge for bitcoin I hope bitcoin will handle this situation very easily so my best wishes are with bitcoin all the time.

Yes, It's the same situation in Vietnam too, the goverment already made a law that prohibited guys who use bitcoin as the official payment and you could be busted by using it at a method payment.

Those countries are moving a step back with regards to this new technology. Their argument is very dumbfounded. Indonesia and Vietnam has a large user based and banning it as payment method is not right. Again their is nothing in nothing bad in having bitcoin being used as payment method. I guess they want to follow China on this, but we already know that no nation can really stop bitcoin, if they think that they can stop it, wait till they found out that bitcoin will continue to exist in their country underground.

We have seen talks like this in the past and I am surprised they are just getting to that stage of considering it as a huge risk. Definitely, there is a risk which no one can ascertain but if anyone is willing to take the risk, I guess the choice is theirs.

They already know bitcoin is one huge community that is so strong and getting stronger by the day for them to challenge which is becoming a lot of threat to their normal system of government related to controls and manipulations. But they are not seen anything yet.

Vietnam really does that? then that is sad for its citizens but I think there is still a way for them to pay or use Bitcoin as a payment if they want to and they can still earn Bitcoin in every possible way as they can still use their own personal computers with safety precautions to block some monitoring agents. Most of the people says that countries is banning Bitcoin but I think some are just regulating exchanges and that is different from ban.

Even though that's true, the ban only applies to situations where people try to use bitcoins to make purchases online. It doesn't apply to to people owning and saving bitcoins so I think this is rather very fortunate for the bitcoin network because the news didn't even affect the price as a whole.

Yes, it is true. such regulations only prohibit the use of bitcoin as a valid means of payment. because the government does not want to bear the worst risk if it happens

From what I read Indonesian government only banning Bitcoin as a means of payment not until ban overall. The local exchange is fine and I think it does not need to worry more for Bitcoin investors on this issue.

They are just talking and cannot ban a crypto currency with todays tech.
People can use VPN or remote desktops to access blockchains. they are just fighting with their own shadow.

we already talking about this before at Indonesian Local board and there is misleading thought here that actually Indonesia doesn't ban bitcoin and if this is true i think there will be no more Indonesian people who being bitcoin users and Indonesian bitcoin exchange won't be available anymore because use bitcoin against the law but the truth is Indonesia central bank do not recognize as a valid payment instrument and not to recommend bitcoin for every  physical transactions but use bitcoin still allowed in this country

I think it's time for their government to recognize bitcoin and make it legal in their country because they do have a lot of bitcoin user's. And if the government is banning bitcoin for some reason i guess it's not that totally banned by which i mean is they just ban it because they were worried about of the their economy. I've read some of the news that the government don't recognize bitcoin because it doesn't have any natural value, but what their government doesn't know is that it is being used worldwide and the price is unbelievably increasing.

I wonder what they're doing this for. For as long as adopters are registered and are doing legal business, why should they stop accepting bitcoin? Is it because it will be harder to tax? This is stupid, really.

Same thing happens on China they won't accept bitcoin as a legal tender and it seems Indonesia does not like the idea of crypto currencies they are also afraid of manipulation that can take place if bitcoin will be use since they cannot control it maybe they are afraid that bitcoin can be use to enter their economy and make illegal things thay may not learn or prevent.

Title is kind misleading, many countries doesn't see bitcoin as official currency and many countries doesn't see bitcoin as payment method, but also many countries said that if buyer want to accept bitcoin he can. Many countries doesn't really know what to do with bitcoin.

The fact is that the official recognition of Bitcoin is a matter in many countries. Even if there are some prohibitions, they should not affect the overall state of affairs. I think that these are only legal moments inside the state but not the general picture of everything that is happening.

Yeah all the people are believing the news but I think it is not true because the Indonesia is still using the bitcoin in some areas, I hope the news is fake and soon we will hear the Indonesia is using the bitcoin because the bitcoin users are still upset for the ban of the bitcoin in the chins and now this news made all the people really sad and upset so I hope the future will be better.

The government is paying the best and the huge level of bitcoin buy now almost the bitcoin is famous for the people who have the value and the importance of the bitcoin so if you are buying the bitcoin and the bitcoin, I hold the bitcoin and a lot of the other people are having the bitcoin as the side source of the money. So if the bitcoin will be the world currency as the best currency for all.

If that's true.
They are only worried that they can not take taxes from the trading of crypto currency transactions in Indonesia. They're still not ready to facing this era. Because technology is always changing ahead, the country should also participate in improvisation.

The statement of doing something to those who defy the statement means bullshit. They are just going to end up missing out eventually and no one would apparently listen to them. If they are blind enough to look around them and see the adoption going on among their neighboring countries, then they really are just some bunch of ignorant set of leaders or they just do not want to stand the threat that bitcoin poses to them.

but why Bank in Indonesia very insist to ban transaction bitcoin to grow so if this problem really happened definitely will make the fate of the population also add more difficult because it is very difficult job search the real world later as successor. hopefully this problem will soon resolved and do not make great pressure to bitcoiner in the future.

Its not actually surprising for this kind of news which i do already anticipated that some government would really act such thing which they would banned bitcoin and would threat its citizens to punish if they would plan to violate on such rules and regulations by them but i would say no matter how indonesia would decide to prohibits its citizens then im sure it wont really be completely stop knowing bitcoin transactions can be done underground or untraceable.If they would try to trace then its near impossible which they would realize later on that it is not really effective at all.They might not able to use on their country but yet they can still able to make money.

I come from Indonesia so I know why our government banned Bitcoin,

they are average old, so they still do not understand what is technology Blockchain :D :D :D

Well, that is the government the population chose, no? So are they average old too?  :D
Next time you will have a new chance to choose your representants, make sure to choose one that will be friendly to Bitcoin and its technology for the developement of your people as individuals. Bitcoin can be a good proposal for candidates and it can even decide a poll if Bitcoin is important for people in your country.

It is quite hard to establish a government where it has circulation of inflation currency such as bitcoin , becasue just like you say governemnt or the whole country would not have enough power and strength to regulate crypto-currency in transaction or apart on their economical state. Some may result to low cost transaction or the total dump of the price of the local currecny becasue of the support for cashless transaction such as bitcoin or any altcoin. That may be the reason why Indonesia banned bitcoin but there are some point that they pass always the future not trusting on the system of the possible future money.

Those who are afraid of bitcoin at this time I am sure they will praise bitcoin and future as Indonesian thinks that their culprits are using it they can freeze their assets so that they cannot use it, don’t give punishment to the whole region if some of individuals are involved and bitcoin is the main way to the bright and developed future for every region so banning it is saying goodbye to progress and profit.

I belong to the one of this citizens, and I don't really concern about it, it's okay, also I don't think at all.. with that news, Bitcoiners Indonesian will be reduced, it's not very influential I guess. Bitcoiners Indonesian is still a lot, and there are still many people who can still sell bitcoin to regular currency, including me.

That's all in this country have ended crypto-currencies. I wonder who's next, I watch the trend the waterfall went. It is seen not all as well as they tell us and there are pitfalls and problems in their application.

Maybe, they are afraid of losing their grip on power?


This may not be as easy as you think. I'm not even sure that the Indonesian people are allowed to choose their "representatives". Have you ever thought that they might not have a say in such matters? Not that people's opinion is worth much anywhere in the world, but in this case it may matter even less than that. They obviously have an authoritarian government which can outright ban Bitcoin without a second thought that it just proves how authoritarian they are.

The title is bad. This is NOT A BAN; it is just an advice.

Even an online retailer could accept bitcoin as "exchange" for goods as long as there is no explicit legal ban. 

I think maybe bank indonesia is not ready and can not accept btc. But I believe one day btc can be accepted by the bank Indonesia. Why can I say it because I am sure that later that currency will change with electronic money, it is something that will happen sometime

If indeed the central bank indonesia do banned against bitcoin, it isn't a big problem for the users of indonesia. Because of the nature of the data that I always make the analysis (indonesia) to buy bitcoin, they have a sufficient level of rescpet against the bitcoin. So it's not bad news for the growth of the bitcoin, this is now the most important is our motivation to strengthen the network of bitcoin: that is known by most people and they are happy to use it
 

It could be something like that. It could be possible that indonesian people aren't pursuing crypto as their government went into that decision. Anyway, life will goes on and crypto currencies were gaining more supporters to proved its power to dominate over fiat in field of online transaction. Maybe Indonesian government doesn't make feel with this, but believing they will bring back crypto in their backyard.

When the BI has asserted Bitcoin is not a valid payment instrument, those who use it will be dealt with. what is wrong with bitcoin?

It seems that, the central bank there just forbid the usage of bitcoin, the citizens still have the right to save it and convert it to local fiat there by their own decision but without the protection of government's law.
Already read it somewhere else in the cryptonews website and that's not an actual ban. The government seem just trying to keep their citizens from any scamming activities but unfortunately misunderstood the real concept of bitcoin.

This is available in Indonesia, but not in the rest of the world, and since Indonesia is not a world powerful economy we, the cryptocoins users, are safe.

Yes it's right, bank indonesia is not ready to accept bitcoin, because they say bitcoin has a high risk of volatility. so they're not ready to take this risk.
but this prohibition does not give any effect. the use of bitcoin in indonesia is still legal and many people use bitcoin, but it's just forbidden to use as payment. but it's not a problem for me, because I never use bitcoin for payments.

We need to emphasize that the ban for Bitcoin is only for its function to become a payment method. Which means becoming as a currency in Indonesia will not be allowed, the government may be trying to avoid the loss of income due to the less taxes they will receive if Bitcoin will ever be a popular payment method in their country. But other than that they didn't prohibit other related actions related to Bitcoin such as mining and also trading which for people who want to earn with cryptocurrency is a huge upside for them.

this will not have any impact, look at bitcoin prices have skyrocketed and has now reached $ 7400, users are not concerned with the issue of bitcoin banned because this has happened before that is china, india, russia and so forth.

He said from the side of the course the original government has not implemented the article about the law,so far still safe there has been no continuation the ruler of the country.The chat party of Bank Indonesia vigilant but not clear about banned by all that only news from the side of the not yet fig government interference.

I read the article. Looks like there is yet an outright ban on bitcoin though I suppose it might no longer be used for some transactions. Weird that us here in the Philippines had no problems with it. I use it to pay for our monthly home utilities for example. I expected Indonesia to be more accepting of this since it's a more advanced country than us.

So, is Indonesia only banning this for payments but they can still be used for trading? What about the exchanges? Would be bad if they missed the cryptotrain...

Apparently, you think it would be that easy ?
Some of them are beginning to understand the fact that the people have started realizing why the control should be in their hands and why they are there to serve us in the first place.

Now, the case is totally different, they are never there for the masses and they have always done things just for their own best interest while monopolizing the whole system. With a stronger community, the less likely it is for them to drop threats as it ends up being an empty one.

Actually Indonesian currency is very week and it makes problem to them in future on handling their own currency. So the Indonesian government play a safe side and ban bitcoin so that they can be safe from the future problems

If you can't control it, better you ban it , that how the goverments are doing with Bitcoin nowadays. It's actually someways has the opposite effect. More and more people will looking for Bitcoin maybe cause people want to do things that it's prohibited.

Do you think this will make bitcoin drop? Or will it have no effect?

They do not know how they want to go about the regulation yet apparently. And it really surprises me how a government that has never cared now comes out to show as if they have cared. Bunch of losers!

They have seen that it is getting out of hand for them and they are beginning to lose the control they have always had and then trying every means to stop it. We obviously do not want their care as we have always been caring for ourselves all these while anyway.

We must understand that bitcoin is already very powerful, while for many people the forum bitcoin is still small, and they are right, we must remember that not every country is the US or China there are countries that are a lot smaller and their governments are going to suffer the consequences of widespread bitcoin usage in a deeper way than a first world country since they do not have institutions as strong and they are weaker economically, just look at what it is happening in countries like Venezuela where bitcoin is thriving despite the bans.

This is too much but it does not affect my point of view with bitcoin. This news doesn't effect the heart of many investors for the market of btc price keeps on growing faster.

I'm from Indonesia
I already asked some questions personally to CEO of biggest bitcoin exchange here bitcoin.co.id
They have plenty of company involving in Cryptocurrency not just an exchange, following the news that our central bank does not allow us using bitcoin as a form of payment the company decided to shut down few of their service.
This act is more like cooperative moves because after all here in Indonesia, we don't get that much attention and that the least we can do for now, we will try our best to educate a lot of people before really jump into this Crypto space.

Will not have any impact, the country that the biggest bitcoin users china does not have any impact, this is because bitcoin users are loyal and not affected with any negative issues.

Indonesia can’t stop people from owning or using Bitcoins regardless of a ban. The citizens that want to hold Bitcoins will still hold them and there will be black markets where they are used. This is true for any country that tries to ban Bitcoin or other cryptocurrencies. The people will find a way to keep their money out of the control of the government or banks and since it’s not physical money, the government can’t really enforce a ban.

the Indonesian government continues to monitor the development of bitcoin, I am very sure someday the government will legalize bitcoin in Indonesia.

Upon checking the link, instead of having a say on indonesian banned to bitcoin, the country philippines is the one that catches my attention the most simply because I am from that country. It catch my attention due to that I like how the Philippines accepted the bitcoin and pioneers the regularization without limiting the benefit of using virtual currencies like bitcoin in investing and to its other services.

in my opinion legalizing bitcoin in Indonesia, will have a bad impact in the country itself, because uneducated people about bitcoin will have a curiosity about it, why its bad instead of good? , because Indonesia Had high corruption rate, so it will a lot of people using bitcoin for tax evasion and money laundering. although its good for the bitcoin ecosystem because many people recognize bitcoin more.

I second this view. But what I want to add is that it could be even more difficult for them to ban physical money. Of course, they can declare some paper notes as no longer valid and similar stuff like they did in India, but if they do something like that, ordinary people will just start to use foreign currency between them like it happened in Zimbabwe. Most likely, it will be the US dollar, the reserve currency of all the people around the world. Gold and silver coins could work too for bigger purchases.

This is the bad news because it is not good to ban the bitcoin in Indonesia, I am really worried because at the start the china ban the bitcoin and now the Indonesia doing like this but the value and the price of the bitcoin can never get down because of this, the popularity and he value of the bitcoins is now increasing and the government of the Indonesia might be afraid of the paper moneys future.

I strongly oppose this risk factor now. People talk about digital currencies especially bitcoin and Ethereum like they are bubbles but let’s just face the facts now.

Is it really possible to stop the idea of digital currencies from spreading and defame the block chain technology when many tech companies are getting involved into them? The co-founder of Apple Company passed a statement in which he declared bitcoin better than gold.

There is nothing authentic about this news. There are number of people who are saying this thing but there is no such news on record. Still there are number of people who are investing in bitcoin. Above all, they are also using their bitcoins in meeting their daily based needs in Indonesia. I don’t think so that this news has any existence and it is just a propaganda to bring down the value of bitcoin.

It may work out any way in the long term. I mean the governments that choose to ban Bitcoin may make the situation in their countries even worse simply because they fight the wrong party. They might think that Bitcoin is their ultimate foe while they should actually try to improve the economic situation at home. By banning it, they might also think that they have solved their problems, while in fact they have just postponed them, if at all.

I'm afraid not for bitcoin but for them rather because they see things differently as we sees them. They say there is a risk, but does they think that there is no things existing without a risk. Risks are nothing compared to success. And if bitcoin can bring success to their community then why would you think for risks. I guess they are really against on bitcoin and they're just making some excuses.

many of us know that in the country of Indonesia or in all countries the government will not prohibit people using bitcoin.
but they let citizens use bitcoin, even as a payment metode,
on their grounds, because bitcoin can help all the people around the world and is good for investing in earning a good income.

Please don't make people panic. That statement contains no threat at all. They are just stating that business shouldn't accept Bitcoin in exchange for goods or services (i.e as a currency/payment system). Citizens are still allowed to own and trade Bitcoin into local currency. Indonesian Bitcoin exchanges are still operating as usual, withdrawal via bank is still enabled. That is not what community perceive as banning.


True.


Not true. Indonesian government currently prohibits using Bitcoin as a payment method. That's why BitBayar (https://bitbayar.com/), Indonesian version of Bitpay, recently shutting down their service.

Why does every country have different approach toward cryptocurrency??,, central banks officials has no common goals toward bitcoin because some show support and others is not.. There just showing that there is no proper connection with those banks or they’re just trying to tell us they’re not but in reality they’re just playing games with us.. It’s hard to tell and hope this insane propaganda against bitcoin will soon stop..

As to me, there is so much of hidden agenda and open propaganda because governments can't fight Bitcoin in the open. It is obvious that many governments like that of Indonesia, Venezuela, or even Russia can't embrace Bitcoin but they can't fight it openly either. They would look like black sheep in the eyes of the rest of the world, especially those countries which many refer to as developed countries and where Bitcoin feels quite at home.

maybe the cause why indonesia has slightly fear with the risk of bitcoin users because possibly if bitcoin legalizing in indonesia this is will increase the activities of illegal acts such as corruptions or money laundering but i think we cannot only seeing this for one side only and if indonesian government could change their mind i think bitcoin can be considering as a part of important financial in this country and i believe admitted or not some people has helped from financial side during using bitcoin

Not only indonesian government do have the fear on those possible effects to its vicinity but on all governments for sure are already seeing on this kind of possibility that might happen if they would decide to adopt it and let their citizens knows about bitcoin because sooner or later they would really know the other usage of bitcoin which can lead up on illegal doings.

meaning that using bitcoin to pay in indonesia is an illegal activity and the government does not allow. However, I think the people there are still able to participate in Bitcoin and convert fiat to the currency in that country and use it normally. We always find a way to keep up with what's going on without being bothered by all of the information on the forum, so no one will know who you are, including the government.

Yes I just hope that Indonesia will not ban bitcoin until whenever So that people's life can be guaranteed in fulfilling all the basic needs Because bitcoin now has a high exchange rate in which we must be able to utilize well.

either want to make regulation about it, but sadly Indonesia got high corruption.
so it worries if it legalize can be another way to do illegal transaction which doing by some people power group.
on my opinion let it be bitcoin as decentralize as its nature without government involved.

It is very obvious to me that if the government went through all of that to ban bitcoin then it is likely that adoption is growing in Indonesia and that is causing a discomfort in the government big enough to ban bitcoin, but like most bans it is going to be ineffective especially against something like bitcoin that does not have a physical form, so unless they can block bitcoin traffic, people from Indonesia will be able to keep using bitcoin as they want.

Bitcoin don’t care about any these kind of banned because bitcoin have already faced such a banned before If you remember about china when china banned bitcoin so nothing happen to bitcoin although at that time bitcoin was not used to for world but after that incident bitcoin has been accepted by other countries and still more countries are going to accept bitcoin.

I think it’s now normal for bitcoin everyone know about china when china banned bitcoin so nothing happen to bitcoin and I think bitcoin is now accepted by more countries and still other countries are going to accept bitcoin even neighbor countries if Indonesia they have also accepted bitcoin so I’m sure Indonesia will review his decision.

Indonesian are doing wrong to themselves they are only seeing toward negativity but not toward the brighter side still improvements are under process and their concern will be sorted out but it will be late at that time, bitcoin is the leading way toward the development and progress and this coin has capability to give boost to the economy as well and banning it means saying goodbye to development and progress.

Every country have own decision about bitcoin, they have own reason to ban bitcoin not tobe used on their region, bitcoin can still use on their region but government do not have obligation to protect user bitcoin.

In our own perspective, Indonesian ban is very wrong and they have stated the obvious that many Indonesians now are into bitcoin and the government  are really fell threaten by it. If the government will just look at the bright side let say for remittance purpose, we all know that they are a lot of Indonesians working abroad, whether in shipping or factory worker or even domestic helpers, bitcoin being use as remittance will bring millions of dollars in the Indonesian economy. Unfortunately they didn't see this kind of help to them. They only see the other side, which is the negative impact of bitcoin.

Well it doesn't seem that the government is letting the people decide here. They're not allowing the use of btc transaction. Though i think in the future, countries who are against btc like indonesia and china would be left with no choice but to accept it.

If this happen, that will be really a bad and foolish act by Indonesian government. They must know the importance of bitcoin in next coming years. And when all the other countries will enjoy their economical ups, Indonesian then just sit and cry for their banning time. So better for them is to carry on bitcoin and even go for the legalizing it. Else things will be on bad in future.

Ban on the use of a bitcoins in Indonesia is something quite shocking. Actually I think that the government has planned to stop the usage of cryptocurrencies for their own personal narrow interests. This kind of behavior is quite common when the flow of digital asset becomes excessive. The ban is temporary obviously and it would not survive a long time.

We can only hope for the best and as Bitcoins are of decentralized nature then any such rule is no harm to the BTC but to the country itself.

from the above topics it is concluded that if you use bitcoin in buying and selling transaction then it will violate BI regulation.
 

Governments are making the bitcoin in the whole world so I hope the bitcoin will give the beset of the money and this is the reason why a lot of the people are buying the bitcoin and they are selling it at the low price the income of the bitcoin is now very high and I can see the bitcoin increasing in the present and the tomorrow, I can see how fast the bitcoin is increasing and how fast the bitcoin I hope this will buy the bitcoin.

But that is not bitcoin fault that is the fault of the people, technologies are neither good or bad, the Internet has opened many doors to many people and yet there are many people using the internet to do bad things all around the world and yet we do not ban the internet and in my opinion the same logic applies to bitcoin.

Indonesian not banned bitcoin, but not believe bitcoin as payment.
no clarity take by government. but many people still use bitcoin for transaction.
they afraid bitcoin will defeat bank ;D. and i think its funny reason

Well its not funny for them because for them, bitcoin is really a big threat to banks. You will noticed that a lot of CEO of big banks are now bashing bitcoin wherein last year you don't hear them talking negative or not talking about bitcoin in particular. But since bitcoin is soaring and became popular it makes sense for them to really attack because it is a perceived threat. However, for us, bitcoin enthusiast, bitcoin is no threat because it can't harm them but instead it just offer as a alternative payment for common people like you and me. But Indonesia government think otherwise. They have already believed what others said about bitcoin that why they don't like it.

There are lot of talking about this Indonesian ban in the market since past few days. The thing there is no such kind of news officially by the government of Indonesia. In fact, there are lot of people who are living in Indonesia and they are investing in bitcoin.

There will certainly be some reasons behind this news but there is no need to worry about anything due to such kind of news.

Yeah, i'm Indonesian and I don't even heard that news in my country here. Fyi, bitcoin is not popular here. Only some people know about bitcoin and Indonesian is not ban bitcoin. People here still can use bitcoin freely and no need to afraid to use bitcoin in our country.

That’s absolutely right that banning bitcoin means to ban development and progress in the region and one thing is sure that Indonesian government will regret on this decision and soon they will hold their ban because they will not cutoff their trade from the outer world and bitcoin is now become the most secure way of payment and bitcoin doesn’t care about them because Indonesia needs bitcoin for their progress.

the decision of Bank Indonesia is very disappointing for bitcoin users in Indonesia.
 should the bank Indonesia provide the best solution about bitcoin because bitcoin has helped many people in Indonesia earn income in the economy is still low in Indonesia

If they want to ban bitcoin let them they are the ones that are going to lose in the end, bitcoin is the future and there is no way to stop it and the more they resist the more painful it is going to be in the end since they are not going to get a lot of benefits that bitcoin brings, many times people talk about the benefits early adopters got but the benefits to countries that adopt bitcoin early are going to be huge as well that is why Japan legalized bitcoin because they understand this.

I think that their government got surprised by the popularity of Bitcoin in their country and, considering the bad financial situation, they are trying to control the market by banning it. Let's hope that tomorrow will be a better day.

Because the government there are very corrupt they know that bitcoin will be popular. and no matter what happen it will keep on pumping weither you like it or not. soon their government will realize bitcoin has something to do to their economy..

even in Indonesia there is only little issue of terrorism. you can compare with terrorism in France or wherever isis there.
BI (central bank of Indonesia) said that they prohibit Indonesia's citizens to use bitcoin as payment for protection.
although 'risky' of bitcoin about illegal transactions is one of the reasons as well

Well if the government is factoring the interest of his citizenry into this decision i think its best because many of these illegal guys are using our precious currency for many bad stuffs that we are not proud of and i think the Indonesian government thought through all the ramifications before effecting this ban.

Well I think it’s not a big deal for bitcoin and I think bitcoin is now use to with these kind of challenges and now bitcoin don’t care about any banned because bitcoin have now a very big support by countries and some of them make bitcoin already legal so now bitcoin is very strong and powerful with high price the ever so nothing will happen to bitcoin.

I do not think that that is a bad thing because a lot of Indonesian people on this forum cannot even speak English and they get easy stakes just because they google translate their posts and put it in here or even when they write articles in Indonesian language.

BI didn't prohibit the use of bitcoin but BI stated that bitcoin and all other cryptocurrencies are not currency or legal payment instruments in Indonesia.

The possible reasons behind the ban put by Indonesian government are yet to b framed. They have taken a very wrong step at most crucial time. In my view the bitcoin has been banned because the national currency of the country is losing its value and they have tried to attempt for making the future of paper money safe.

It would affect the economy of the nation in a bad way and obviously the ban would get eradicated in the next few months as the china did.

I think Indonesian government is afraid of their economy because bitcoin decreases the use of bitcoin, thus discouraging the banking system. This procedure decreases the amount of tax people pay because when people use bank, the pay bank charges and also tax but bitcoin is helping people to get rid of banks and do all the work of bank free of coast. The government is worried about their economy but is not looking to the facilities that bitcoin is providing to the people.

I don't think it's a big deal. In most of the countries only the fiat of that country is allowed to use when buying and selling goods.

Rather pity but quite expected. More and more countries are trying to control cryptocurrencies.
Glad to see that this new didn`t influence on BTC price at all.

It's mainly because they only ban the usage of bitcoin in the country as tools of spending or so called currency, Indonesia stated oftenly that they didn't recognize bitcoin as a legal payment method but rather giving their responsibilities to the respective users without law protections, it's fine to keep bitcoin as investment but for spending inside the country, it's prohibited.
The trading volume in the local exchanges itself still stay stable and not decreasing at all.

But that is the issue, you control a market by regulating it not by forbidding it, now those that want to adopt bitcoin in a country where it is banned have to face a difficult decision of obeying the law or not, but if the situation in their country is really that bad then people are going to adopt bitcoin despite the risks, this is happening in countries where there is a deep economic turmoil.

Expected that not all country will be pleased with the use of bitcoin. Others are overwhelmed and welcoming with the usage of bitcoin but not all of it will be good for using bitcoin and including it to their economy. If Indonesia is threatening about bitcoin it's because they can see that bitcoin is a big threat to their business as it is a decentralized currency where the gov't has no control.

I think this ban is only temporary, sir, I am Indonesian, so I know how the government of my country, they make this ban because they do not want to be responsible in case of obstacles with our bitcoin

Indonesia ban bitcoin as a payment method in their country. The head bank Indonesia, Indonesia central bank has threatened action against  bitcoin or other CryptoCurrency holder if they use their virtual money as a payment method. In 2014 CNN first reported that central bank of Indonesia published a public notice that warning their citizens who use bitcoin. Bitcoin might be effect their economic,  so in the very last week governor of bank of Indonesia at jakata emphasize that Bi doesn't see bitcoin as an official payment tool in Indonesia so their is a risk that payment with bitcoin.

I think bitcoin is now use to with these kind of things and bitcoin know very well how to face these challenges so I think bitcoin now don’t care about any ban I remember when china banned bitcoin so he way bitcoin fight against china I will must appreciate and now bitcoin is very stable with high price in market so no need to worry about Indonesia.

Countries are afraid about their economy. Governments think that bitcoin would decrease the average economy of their country. They are doing right in one sense but the government seem to be selfish they don't think  that it facilitates the people and is helping them to do exchange easily and transfer money from one place to another but think only about the economy of the country. 

its a every governments right to know what is good or bad for the people and besides the government of Indonesia only warned their people not to use bitcoin as payments for transactions mean mining trading and gambling still allow.so we must not bother and just give respect to whats their governments think is better for the country

Please don't generalize, indonesian people can speak english too.

FYI the news about bitcoin in indonesia here is not that big, people here don't even care about that news and bitcoin is not popular in indonesia. Indonesian people still can use bitcoin here and indonesia is not ban bitcoin.

Lol, funny, so you mean because they don’t know English, that means they should be ban? Lol, I don’t think so. There are some people in Indonesia that are very good in English, despite that fact that most of them can be uneducated. By the way, they haven’t done so, they said it shouldn’t be used as a means of payment, so I think they will be allowed to just invest or trade in it.

To be frank, the users of bitcoin is always a minority in the entire parts of the world. Saying that it's selfish for the government to decide banning the bitcoin in Indonesia as the means of payment method just can't justify your statement. By allowing bitcoin, it will only facilitates small parts of community in their country while banning it and only use legal currency in their country could bring greater good for their economy.

to be honest I was very sad when I saw the news some time ago .. I see it seems a lot of countries are already tire bitcoin somehow there dipikiran them .. for Indonesia itself may be worrying if the corruptors make bitcoin as alatt in their money laundering ..

after the news came up that I saw more and more indonesian people who were interested in bitcoin .. even many forex players are now trading bitcoin.  :)

Yes you are right, some countries may have rejected bitcoin because of the reason that they afraid that bitcoin will decreases the economy power, not only Indonesia but some other countries still do not know about the fact of bitcoin. I am sure that when they will know about the importance of bitcoin they will surely start accepting bitcoin as legal currency and will give more importance to it.

Sounds bad! This is really bad news because bitcoin is the way to help people and make their life easy. Bitcoin helps people to make their life easy in ways like to transfer money from one place to another or to earn money online. Bitcoin make a lot of life changes and about Indonesia I feels weird that bitcoin has been rejected there.

Sounds bad but if you read the article, bitcoin in Indonesia will not be banned, they just warn those who use bitcoin for payment. Perhaps the central bank of Indonesia can not regulate the bitcoin because it is very risky, bitcoin can be use as money laundering of unknown people if the goverment of Indonesia can't handle it.

They can clearly say that bitcoin is not official for payment tool but they cannot stop someone from using bitcoin because they cannot verify who uses bitcoin.

right indonesian government must have foresight that bitcoin wont give them risk instead would gove them help to fasten the transaction and at the same time make another way of income provider for their people.i think there is a lobbyist in indonesian government  to get rid of crypto for there own interest or their business not to be affected by this community

I think if it is true that Indonesia has banned bitcoin then I must say that they have followed China decision about bitcoin, but as we know that china once banned bitcoin in 2013 but soon they allow their people to trade in bitcoin and once again they banned bitcoin in 2017 but it will also be for the time being and so the Indonesian government will do in the near future. I do not know any reason for banning bitcoin why they took such a step?

This is an obvious fact, Indonesia just realized what it could be threatened with by bitcoin, and that it will take a lot to do this. For example, if you take bitcoin it was necessary to regulate it somehow, and the national currency would have to be revised, and so much easier and in principle more correct.

When we hear that when a country banned bitcoin we think that it's another bad news that can affect for the image of bitcoin and there will be a lot of trollings and many will believe without hearing the other side. Indonesia just want to stop the illegal fund raising of money as their people victimized by it and bitcoin is just use as instrument.
Indonesian government is just being careful with its people not to be a victim of the rampant fraudulent.

I think.. the prohibition of Indonesian central bank has no effect on bitcoin users in  his country.
proven, bitcoin users in Indonesia don't stop to continue to buy and use bitcoin.
and I think, as long bitcoin as still exists, as well media for buying and selling or exchange's media can still be accessed, this will continue.

I think it is just a snapping because cryptocurrency is not yet legal in Indonesia. Even so the user bitcoin in Indonesia is quite a lot and mutually reinforce each other.

This is the main problems how regulation can't be creates since we can open bitcoins wallet in many platform, we can move amount Btc to many ways wallet and exchanges. The government can't monitoring and verify this easily.
I think as long bitcoins doesn't using for illegal transaction i think we as bitcoin holders shouldn't worried againts the laws.

i think the indonesian government is not already learn with bitcoin so they can give warning for every people in indonesia to not use bitcoin. and if their people decide to use bitcoin then they should know the risk and they will take the responsible if somehow they are loss their money. the government will not give any statement yet as bitcoin is not legal in indonesia but i hope soon their government will give approval for the people so they can use bitcoin with safe.

I am embarrassed by the State of Malaysia, they have started discussing the rules about Bitcoin while Indonesia has not been interested and even banned the use of Bitcoin.
I'm sure Bitcoin users in Indonesia are very much, they are waiting for new rules for the use of Bitcoin legalized.

Well not only the Indonesia but almost all the countries should give the space to the bitcoin, now I am buying the bitcoin and in my country the bitcoin is not the famous currency I can have the fun with the bitcoin if the bitcoin will the regular currency in my country as much as the Indonesia concerned the bitcoin is not going to be ban in because it has a lot of the value now.

Indonesia will ban BitCoin somewhere in 2018 by Bank of Indonesia Governor !!!

"BI Governor Agus Martowardojo said that, in their bid to protect the rupiah as the legal tender in the country, the central bank will ban Bitcoin and all forms of cryptocurrency sometime in 2018, which includes prohibiting any party from facilitating their transactions."

https://coconuts.co/jakarta/news/indonesia-ban-bitcoin-value-popular-cryptocurrency-soars-us10000/

HUGE NEWS for 300 milion people market !

Now more countries that are afraid of bitcoin will make more and more people curious, Indonesia is a big market and I'm sure this will not have any impact on the development of bitcoin in local Indonesia or bitcoin in general.

I think for bitcoin in Indonesia is not prohibited, because the government also has not issued regulations to not play bitcoin. and until now there is no regulation governing it.

In the month of October central bank of Indonesia declared that it will not accept Bitcoin as a form of payment. As a result two major exchanges TokoBitcoin and BitBayar have to shut their operations from 1st Nov.2017. Indonesian trading volume was accounts for 0.18 percent of total trading volume worldwide. Now it is necessary for the bicoin holders from Indonesia to incash their assets to fiat cash. This is happening in the time when bitcoin has crossed $10000 mark. Indonesian Governor have taken these steps to protect Rupiah, the legal tender of their country. They fear that cryptocurrencies could potentially be used for money laundering and even funding terrorism.

Its same situation as we see in past because bitcoin have already faced such a banned from china and after that bitcoin come back and the way bitcoin fight against china so I will must appreciate bitcoin because bitcoin don’t believe and don’t accept any banned because bitcoin is such a powerful currency and its believe to survive and I’m quite sure that still some fork want to disturbed bitcoin but they will be fail same like china.

If bitcoin community is still significantly small in a country then there is no point in banning the bitcoin is first place. Because that small group or community wont be able to make much impact on the economy. So there is no harm to the economy. However banning bitcoin will definitely affect the people from that country from prospect of getting rich or improve their financial situation with legal means. I mean buying bitcoin and getting rich after value of bitcoin increases is profitable to the people. And they are not committing any crime nor any fraud as well. A country could collect the tax from the people when they encash their profit from the bitcoin.

Bank Indonesia has a single objective of achieving and maintaining the stability of the rupiah. This has two aspects: the stability of the value of the rupiah against goods and services reflected in the rate of inflation; as well as the stability of the value of the rupiah against the currency of other countries as reflected in the development of exchange rates. In terms of execution of duties and authorities, Bank Indonesia implements the principles of accountability and transparency through publicly delivering information to the public at large through the mass media at the beginning of each year on evaluating the implementation of monetary policy, as well as monetary policy plans and the setting of monetary targets in the coming year .

Bank Indonesia has a single objective of achieving and maintaining the stability of the rupiah. Bitcoin transactions in Indonesia are still relatively low, only about 4 percent of the total world transactions. But over time the number continues to increase. He believes the central bank regulation will not be too influential because of the universal nature of Bitcoin.

The central bank's regulation will not have much effect on the regulation in Indonesia. Bank Indonesia's concerns are premature. Some countries have also received bitcoin and legalized it. Although this requires a long process, but the act of forbidding bitcoin as a tool of transactions in Indonesia is not too true.
If the forbidden is in the form of an open bitcoin investment advertised in the mass media, trading like this I will agree to be banned.

Indonesia makes many funny news. The statement of the deputy Governor of Bank of Indonesia just an absolute shame. Meanwhile, Bitcoin is top 10 on google based Indonesian search

In my opinion, BI is worried about the risks associated with the use of bitcoin by the public. This is because BI is sniffing the potential for bitcoin cheating to be used as an unlawful act, such as terrorism, money laundering, prostitution, and drug trafficking. so in this case there is a concern from BI.

Bank of Indonesia has a reason why they ban bitcoin. BI have their own policy for their country and for their people.The government think that Bitcoin had the potential for financing, terrorism and other negative acts.

I think this news will only push up the higher bitcoin prices.
because no one can stop bitcoin because bitcoin is not set by anything.

Indeed, BI (Indonesian bank) prohibits bitcoin as a means of transactions in their country, and the only transactions allowed in Indonesia are only rupiah. But if the government only think its negative course Indonesia will not progress, positive thinking should also be done so that Indonesian people can successful and prosperous.

Yes, a sad news really.
I dreamed that someday i can use my bitcoin to buy or transact something in my country. But what now? They banned bitcoin as payment. What a nonsense.
Well ... at least they don't ban us to invest and earn money from bitcoin. Since quite many indonesian people use bitcoin as their source of income, including me.
But as far as i know, there haven't any official rules already about it? They also only said we need to take the responsible ourselves if we still want to use bitcoin to transact. Not really banned it, i think?

I feel lucky because although it is not yet declared as legal in our country, the good thing is it is not banned. Maybe we have nothing to to with it, government rules.

It’s not a big deal for bitcoin it happen before with bitcoin and now bitcoin don’t care about any banned because when china banned bitcoin so at that time that was a first ban for bitcoin and it disturbed bitcoin price but then the way bitcoin fight with against china so its unbelievable and now it’s a time for Indonesia I’m hundred present sure that Indonesia will also be defeated same like china so no need to worry about any ban.

indeed the people of Indonesia can not use crypto currency as a means of payment but the people of Indonesia does not prohibit using bitcoin. the people of Indonesia can use bitcoin as a means of payment if they have exchanged it to the Indonesian currency

Well it is not good to say that we cannot do anything because we can do everything. We should make bitcoin high in price by using more and investing more but even then if a country use to ban bitcoin it will not have any impact on the importance and the price of bitcoin, if the government will find bitcoin good and they will accept the presence of bitcoin then defiantly it will not be banned in any country including Indonesia.

Every country has won rules and regulation to lead their own economy. Indonesia has try to risk free economic system. Because they have  no control about bitcoin.

lol! same in my country. the government is not publishing articles against bitcoin investment. that it is too risky to invest in bitcoin that there is no guarantee that our investments are going to returned because bitcoin is not backed by the government and banks. it is not recognized too.

in some source new here, they will release new regulation about cryptocurrent that cant make transaction with bitcoin in a short time (i dont know short time will be 1 month or until next year) but many bank here that accepted blockchain system and will apply in their system, and the funny one is government will asking tax for cyptocurrent ;D

Their country, their leadership that they've choosen, and now they've got to live with it unless their current government makes a 180 turn in their opinion on bitcoin. To be honest I'm not really fond of the hostility towards bitcoins and cryptocurrency, but with lesser developed countries while it will hurt them in the process it's kind of understandable why they would want to ban crypto. It's still a taboo subject, and central banks don't want to loose their hegemony, so no wonder this is happening. Give it a bit of time and they will flip over in no time.

Any country that bans crypto currency is closing its door on future. Bitcoin represents more than just a digital currency. One can have a passive, conservative attitude towards this technology, but straight up banning it. Not wise, Indonesia.

I'm guessing that they will lift the ban in the near future after seeing all those missed opportunities.

I am not surprised to hear that many countries are banning bitcoins. because sooner or later they will reopen the ban because they see great opportunities can be created from the existence of this crypto currency. although at first they felt threatened by the existence of crypto money

im indonesian and i know about this news, and right now the banning of bitcoin is for the transaction, because the transaction is can created by real money that distributed by central bank only. its okay if we trade and sell our bitcoin in indonesia

Aside from a small peer of users for bitcoin transactions it really cant affect the economy of a country. I think the government are too afraid without realizing the potential of the blockchain technology. They are also not knowledgeable of the good benefit  of the blockchain which in the future they can control it by the law of the government.

More and more countries are banned bitcoin then this becomes a free publication that will make a lot of people curious and finally buy bitcoin, I think bitcoin banned from Indonesia will not affect anything because previously there has been the largest country of bitcoin users that is china.

And what happened after Bitcoin was banned in mainland China? Most of the users joined crypto-exchanges based in Hong Kong and South Korea. Exchanges based in South Korea in particular have seen their user base getting multiplied by many times during the past few months. The same will happen with Indonesia as well. The users will just join exchanges based in Singapore.

There are some countries that are not accepting bitcoin probably due to corruption that they will never say in the media. It's a sad thing, really.

While Indonesia will likely ban bitcoin and altcoins in general, there is no way for the government to crackdown on citizens buying and selling on exchanges. They may only crackdown on bitcoin transactions between merchants and such.

Just like other countris, Indonesian was also in a lists of countries who will likely to ban bitcoin as we all know Indonesia is one of the top countries wherein bitcoin was widely using, so the government became alarmed with that and they begun to research about it, and as for them bitcoin was just a big mistake and just like a ponzi scheme as well so they don't trust it.

Bank of Indonesia have put a complete ban on bitcoin currency from 1st January, 2018. Bank Indonesia head of transformation Onny Widjanarko said the regulation on e-money would be issued in the near future. He further appealed to vendors and merchants not to accept Bitcoin transactions stating that it would not be held responsible for any losses incurred. According to Indonesian government bitcoin is largely used in illegal activities like terrorism, money laundering, prostitution, and drug trafficking in their country.

Oh well, its really sad to see that a nation think that bitcoin is really used for illegal activities. They could at least put a tighter regulations on it instead of a total ban. Some of its Asean neighbors though are bitcoin friendly, that's why I'm still surprise to find out that Indonesian's government decision. Again, its not bitcoin's fault that criminals are taking advantage of its psuedo-anonymous nature, but there are a lot of cryptos suited for them. And the bottomline here is who are going to be affected? its their citizens who have been enjoying bitcoins for many years. And I'm sure that a lot of our Indonesians bitcoiners are really unhappy with the government decisions. I don't know if they can still go trade or purchase bitcoin around because of this news. But I'm sure that they will find a way, however, there are risk because once the government find it there's a penalty for sure. Just be careful.

Countries are not directly mentioning that they are going to ban the Bitcoin. Cryptocurrency are very risky trade them at your own risk, so i think government are expecting tax from the people who trading cryptocurrency.

I read the news on the crypto blogs with a lot of information saying that many countries in Asia started issuing bans on Bitcoin. The countries there are more negative about Bitcoin and Altcoin that prevent investors from joining the crypto.

In Asia , Japan is the country which has legalized the cypto currency and making its way forward in this space. Their trade volume is huge and also it is helping their economy as well and their citizens as they get an opportunity to earn income from this cypto currency and in return pay the taxes to the government.

Same goes to neighbouring country, which is Malaysia. Use of crypto in the country is on the rise, and I expect the central bank to introduce some sort of regulations in the coming months or so.

in every country has its own government. And the Indonesian government is still afraid of the risks that exist in bitcoin. So Indonesia still considers the bitcoin of illegal transaction tools and no taxes associated with bitcoin.