Bitcoin's Use in Indonesia Pick up

[bornil267645]

There's a fresh air for the bitcoin community. At least some part of community is staying active rather than posting frustrated posts on the forum. Without being considered as legal tender in Indonesia, bitcoin transactions continue to rise from year to year. Number of circulation have only reached 150-200 bitcoins. Last year, it was around 10 bitcoins per day.

http://e27.co/bitcoins-use-indonesia-picks-albeit-no-recognition-20150603/

[NorrisK]

Nice development! If it starts picking up like this around the world, bitcoin will start growing again and maybe we can leave this stagnant phase.

[shulio]

There's a fresh air for the bitcoin community. At least some part of community is staying active rather than posting frustrated posts on the forum. Without being considered as legal tender in Indonesia, bitcoin transactions continue to rise from year to year. Number of circulation have only reached 150-200 bitcoins. Last year, it was around 10 bitcoins per day.

http://e27.co/bitcoins-use-indonesia-picks-albeit-no-recognition-20150603/

Still on topic, I found that there is only 1 main exchanger in Indonesia vip.bitcoin.co.id https://bitcointalk.org/index.php?topic=854408.0 and the daily volume for it is about 75-200 bitcoin on average per day. It is still very low but atleast they are increasing since last year as well

[LFC_Bitcoin]

Every small step is a positive, I have no knowledge on the Indonesian bitcoin market but if I take what you say as gospel then of course it's positive.
We need to keep increasing awareness & step by step, year by year we are getting there.

[Buttknuckle]

Really interesting.  There is a huge black market in Indonesia because the government there is very strict.  Alcohol is illegal as are other fun things.  It is a Muslim culture (except for Bali and a few other places) so I wonder if the adoption of bitcoins has something to do with this.  Hopefully it has a positive impact on their economy because they could use it.

[cysive]

4.5 million Indonesians work abroad. http://en.wikipedia.org/wiki/Indonesian_migrant_worker

It could become a huge remittance market for Bitcoin.

[anderson00673]

4.5 million Indonesians work abroad. http://en.wikipedia.org/wiki/Indonesian_migrant_worker

It could become a huge remittance market for Bitcoin.

That is a significant number.  I didn't realize there were so many people from Indonesia working abroad.  Is this unusual for a country?  It seems like more than an average country would have working abroad.  I think you are right and perhaps this is the reason for bitcoin's recent popularity in Indonesia.

[michietn94]

Just proud being indonesian and it's so nice to see this news. We should promote bitcoin ever better than before so we can show how powerfull bitcoin is
Long live bitcoin

[jmurjeff]

Really interesting.  There is a huge black market in Indonesia because the government there is very strict.  Alcohol is illegal as are other fun things.  It is a Muslim culture (except for Bali and a few other places) so I wonder if the adoption of bitcoins has something to do with this.  Hopefully it has a positive impact on their economy because they could use it.

This government might be strict but there are a lot of people breaking their laws. Drug use is quite high and drug smuggling is high in that country as well. I wonder if bitcoin becomes popular there will the government step in?

[--Encrypted--]

4.5 million Indonesians work abroad. http://en.wikipedia.org/wiki/Indonesian_migrant_worker

It could become a huge remittance market for Bitcoin.

That is a significant number.  I didn't realize there were so many people from Indonesia working abroad.  Is this unusual for a country?  It seems like more than an average country would have working abroad.  I think you are right and perhaps this is the reason for bitcoin's recent popularity in Indonesia.

considering the population plus the fact that indonesia is a third world country, it is not really that surprising for our people to search for an outside jobs for more income. the average monthly wages in Indonesia is very low. now I don't know about the whole country, but on my city 70% of the jobs only pays $200-$300 a month (the minimum pay is about $160, in case anyone wondering).

[BillyBobZorton]

4.5 million Indonesians work abroad. http://en.wikipedia.org/wiki/Indonesian_migrant_worker

It could become a huge remittance market for Bitcoin.

That is a significant number.  I didn't realize there were so many people from Indonesia working abroad.  Is this unusual for a country?  It seems like more than an average country would have working abroad.  I think you are right and perhaps this is the reason for bitcoin's recent popularity in Indonesia.

considering the population plus the fact that indonesia is a third world country, it is not really that surprising for our people to search for an outside jobs for more income. the average monthly wages in Indonesia is very low. now I don't know about the whole country, but on my city 70% of the jobs only pays $200-$300 a month (the minimum pay is about $160, in case anyone wondering).

Are you form indonesia? then a signature campaign would be a huge plus for you since it can pay a decent 0.1+ a month. Have you cashed out money into your local fit? did you pay taxes over your BTC gains?

[Amph]

it's nice to see that more countries are adopting bitcoin instead of banning it, without any real reason(criminal reason are stupid because they can use local fiat fot that too)

if this trend continue it will be only a matter of time until the the right propagation will happaen

[cysive]

4.5 million Indonesians work abroad. http://en.wikipedia.org/wiki/Indonesian_migrant_worker

It could become a huge remittance market for Bitcoin.

That is a significant number.  I didn't realize there were so many people from Indonesia working abroad.  Is this unusual for a country?  It seems like more than an average country would have working abroad.  I think you are right and perhaps this is the reason for bitcoin's recent popularity in Indonesia.

considering the population plus the fact that indonesia is a third world country, it is not really that surprising for our people to search for an outside jobs for more income. the average monthly wages in Indonesia is very low. now I don't know about the whole country, but on my city 70% of the jobs only pays $200-$300 a month (the minimum pay is about $160, in case anyone wondering).

Yeah, plus Indonesia has the 4th largest population of any country in the world. The 4.5m is only about 2% of the population. Just FYI. http://simple.wikipedia.org/wiki/List_of_countries_by_population

[--Encrypted--]

4.5 million Indonesians work abroad. http://en.wikipedia.org/wiki/Indonesian_migrant_worker

It could become a huge remittance market for Bitcoin.

That is a significant number.  I didn't realize there were so many people from Indonesia working abroad.  Is this unusual for a country?  It seems like more than an average country would have working abroad.  I think you are right and perhaps this is the reason for bitcoin's recent popularity in Indonesia.

considering the population plus the fact that indonesia is a third world country, it is not really that surprising for our people to search for an outside jobs for more income. the average monthly wages in Indonesia is very low. now I don't know about the whole country, but on my city 70% of the jobs only pays $200-$300 a month (the minimum pay is about $160, in case anyone wondering).

Are you form indonesia? then a signature campaign would be a huge plus for you since it can pay a decent 0.1+ a month. Have you cashed out money into your local fit? did you pay taxes over your BTC gains?

yes, I am from indonesia. I've been doing  sig campaigns for a while now, but I almost never cashed out my earnings cuz I wouldn't know what to do with them (I have better wage than most, I guess). so I just use them to buy digital "things" like pulsa (kind of like pre-paid credit for phones) and such.

[blablaace]

bitcoin is most useful in third world countries where people lack reliable access to banks...

[manselr]

4.5 million Indonesians work abroad. http://en.wikipedia.org/wiki/Indonesian_migrant_worker

It could become a huge remittance market for Bitcoin.

That is a significant number.  I didn't realize there were so many people from Indonesia working abroad.  Is this unusual for a country?  It seems like more than an average country would have working abroad.  I think you are right and perhaps this is the reason for bitcoin's recent popularity in Indonesia.

considering the population plus the fact that indonesia is a third world country, it is not really that surprising for our people to search for an outside jobs for more income. the average monthly wages in Indonesia is very low. now I don't know about the whole country, but on my city 70% of the jobs only pays $200-$300 a month (the minimum pay is about $160, in case anyone wondering).

Are you form indonesia? then a signature campaign would be a huge plus for you since it can pay a decent 0.1+ a month. Have you cashed out money into your local fit? did you pay taxes over your BTC gains?

There's this guy developing a SIM card that works in old non smartphone phones and allows blockchain operations through SMS. Is pretty awesome for every underdeveloped countries stuck with pre-smartphone era phones.

[dollarneed]

iam very proud of being  an indonesian,and i love bitcoin at least there are more than 57k people are signed up on vip.bitcoin.co.id  including me and my parents and using bitcoin for our transaction ,thats the only for one exchanger there are other exchanger to, but you know there are more than 255 milion people live in this country and its geting higher from time to time, indonesian rank in  number 4  in the list of countries by population, i hope we could make 1 milion indonesian using bitcoin for their transaction

[Amph]

bitcoin is most useful in third world countries where people lack reliable access to banks...

some of those countries also luck speed connection, or internet, so it's not always good for them but preferible yes

even if you see all these good news about poor countries getting involved into bitcoin, i still think that bitcoin will spread faster into the industrialized countries first and then propagate to the poor ones