Bitcoin Forum

These Laws is just made recently by my govt.

It's indonesian , please use google translate.

Check it out :
http://bisniskeuangan.kompas.com/read/2010/06/08/10562982/Transaksi.di.Indonesia.Harus.Rupiah. (http://bisniskeuangan.kompas.com/read/2010/06/08/10562982/Transaksi.di.Indonesia.Harus.Rupiah.)

http://www.analisadaily.com/index.php?option=com_content&view=article&id=97865:transaksi-keuangan-gunakan-dolar-terancam-pidana&catid=26:nasional&Itemid=44 (http://www.analisadaily.com/index.php?option=com_content&view=article&id=97865:transaksi-keuangan-gunakan-dolar-terancam-pidana&catid=26:nasional&Itemid=44)

The quick summary translation :

Its called financial repression.
http://en.wikipedia.org/wiki/Financial_repression (http://en.wikipedia.org/wiki/Financial_repression)

This is an information, not an offender message  :)
Don't worry, keep printing US dollar is a no problem, US dollar still have its values somehow
but just don't forget to exchange it first  ;) jail. . . is not comfortable place to sleep
Again, this is an information, not an offender message, and don't worry, US dollar is still OK!

That's very unfortunate, but not surprising. Central banks, like Bank Indonesia, control the supply of money through legal monopolies enforced by police rather than by competition on the free market. I wrote about this just recently, "Central banks are the scam--not bitcoin" (http://astrohacker.com/ahc/central-banks-are-the-scam-not-bitcoin/).

interesting, thanks for the post.
some of us Americans are trying not to use the FEDs dollars either.

best of luck,

Maybe your government doesn't like the dollar, but if the people in your country actually didn't trust it then your government wouldn't have to make a law against it. People would just refuse to accept it for payment.

This is an important distinction because it could happen with bitcoin. When an old fat politician writes down that we shouldn't use bitcoin anymore it will mark the point where lots and lots of people trust bitcoin more than the dollar, not the opposite.

The title is incorrect.  Your country has NO trust issue with the dollar. They either fear it or don't like the fact that they don't control it.

I think your govt trusts it too much is the actual point.

Financial repression is about keeping the money for themselves... they are afraid that people will use USD to skip them... meaning they really trust the USD more than their own.

Well, a thing that I remember from Indonesia is that they took every load of bullshit FED could put into them. Starting for the USD bills to be "in mint condition", otherwise they were refused.

I'm not sure if it's because your govt doesn't trust it. How's political/financial stability in your country at the moment ?

In "sovjet"-states (such as eastern europe) it was also illegal to own dollars. (it was a desperate way for them to try to dampen the hyperinflation, they forbid not only dollar but all foreign currencies)

Just tried to comment the case with my wife, which happens to be Eastern Javanese, she started to talk about some guys a while ago buying iPads from Singapore with USD and then sell them at Indonesia for USD but without bhs Indonesia instructions... and then 2 of them were arrested and they passed a bill about forbidden trading with USD within ID.
Kind a confuse story...  :o ...sounds like an ad-hoc law.

Anything of this checks out?!

Indonesia has aging oil fields and rising local demand.  In other words, your country is a net oil importer and thus in the eyes of the US, we don't give a shit.  Buy our debt or sell us oil.  Otherwise, no one cares about you.

Ya, you are right sir.

no worries, the new laws is not turning US Dollar holders into criminals
it's just, hotels, motels, stores, malls, don't do US dollar anymore

but, you can still using it as a transaction tools  ;D

it's just . . . don't get caught  ;)

it's difficult for us to make tactical market decissions , like buy US debt and/or selling Oil to United States
a country who loves to print more money LOL LOL LOL sorry, please don't feel offended.


using US dollar is ok sir  :D
don't be mad.



it's just . . . don't get caught  ;)

hey...

Looks what i've found on google news :

Obama Losing Canada's Oil to China
http://www.newsmax.com/Headline/BarackObama-FredUpton-China-Oil/2011/07/02/id/402295 (http://www.newsmax.com/Headline/BarackObama-FredUpton-China-Oil/2011/07/02/id/402295)

US own neighbor won't sell oil to US LOL LOL LOL Your dollar suck sorry, please don't feel offended.

IMF have told The Fed to print more money, if you don't print more money, it can cause economic chaos in the US.
And
IMF Calls For Alternative To Dollar As World Currency
http://www.huffingtonpost.com/2011/02/11/imf-calls-for-dollar-alternative_n_821795.html (http://www.huffingtonpost.com/2011/02/11/imf-calls-for-dollar-alternative_n_821795.html)

Hahaha you're funny.

I hope we do not see laws against BTC like this strange law soon .... and I feel sad for what happening in Indonesia. at least airports and hotels should still accept ANY foreign currency.

airports and hotels do accept ANY foreign currency, no worries.
it's just the steps for them is change.

the ussual steps :
receive dollar -> put it into coffer -> exchange it later.
those steps change to :
receive dollar -> exchange it to local currency (gets an addon extra charge inflationary rates) -> put it into coffer.

You're missing one important step:

receive dollar -> exchange it to local currency (gets an addon extra charge inflationary rates) -> give some to the local corrupt police -> put it into coffer.

Otherwise you end up in jail...  ::)

lol, this is classic. I love how he acts all casual about it, we all know the US dollar sucks and we all hate it anyway. That's why we are here, on the Bitcoin forum.  ;)

This tread needs to be moved. No one cares if you country is not allowed to trade dollars internally. The only thing that matters is that international trades will be settled in dollars. Now please move this thread to the economic section.

I grew up in the Bahamas and there was a similar law there. Tourists could spend USD but it was technically illegal for Bahamians to spend USD without special govt permission. It is because they wanted control, not because they did not trust the USD.