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Author Topic: Indonesian now in the top 10 bitcoin market in world...  (Read 2796 times)
elyas772
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November 11, 2015, 03:45:19 AM
 #1



source : http://coinmarketcap.com/currencies/bitcoin/#markets
market : https://vip.bitcoin.co.id/

Indonesian is the next potential Asian power ?
we can see now indonesian market is the second largest market after China in Asia
and now in the top 10

what do you think about Bitcoin In Indonesia in future ?

for all investor are you interesting to open bitcoin ATM in Indonesia ? now we have only 2 place Bali and Jakarta
http://coinatmradar.com/country/100/bitcoin-atm-indonesia/

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danielW
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November 11, 2015, 03:55:41 AM
 #2

In Bali now, it has a thriving Bitcoin scene.

Buy and sell Bitcoin in Australia at my exchange, Hardblock.net .

Serving Australian customers since March 2014.
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November 11, 2015, 04:00:55 AM
 #3

good news .... i like it

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ronaldo40
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November 11, 2015, 04:02:28 AM
 #4

The moment I see rate vip.bitcoin.co.id always have the lowest rate of another exchanger, this is good for you do arbitrage Smiley

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blackmachinegun
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November 11, 2015, 04:11:37 AM
 #5

The moment I see rate vip.bitcoin.co.id always have the lowest rate of another exchanger, this is good for you do arbitrage Smiley
Woww congrats! 4k bitcoin volume. Also yeah i see low rates there , it could be arbitraged with kraken or huobi as they had higher rates.

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November 11, 2015, 07:01:53 AM
 #6

over 1,000 bitcoin has traded at market Indonesia at last week. it's very amazing in  Indonesia within 1 month
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November 11, 2015, 07:31:37 AM
 #7

The moment I see rate vip.bitcoin.co.id always have the lowest rate of another exchanger, this is good for you do arbitrage Smiley
Woww congrats! 4k bitcoin volume. Also yeah i see low rates there , it could be arbitraged with kraken or huobi as they had higher rates.

Now the volume has reached 5.071,3BTC wow Shocked. yeah I have also already tried arbitrage to BTC-e Smiley

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ETFbitcoin
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November 11, 2015, 07:56:03 AM
 #8

The moment I see rate vip.bitcoin.co.id always have the lowest rate of another exchanger, this is good for you do arbitrage Smiley

Not really, sometimes it's higher than USD exchange & more volatile than any bitcoin exchange out there Roll Eyes
So, based on my experience, arbitrage is quite dangerous.

There are many bitcoiner in Indonesian, but there aren't too many physical shops which accept bitcoin.
So, bitcoin business potential in indonesia is very big, and i'm sure it'll be popular quickly.

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November 11, 2015, 07:57:09 AM
 #9


source : http://coinmarketcap.com/currencies/bitcoin/#markets
market : https://vip.bitcoin.co.id/

Indonesian is the next potential Asian power ?
we can see now indonesian market is the second largest market after China in Asia
and now in the top 10

what do you think about Bitcoin In Indonesia in future ?

for all investor are you interesting to open bitcoin ATM in Indonesia ? now we have only 2 place Bali and Jakarta
http://coinatmradar.com/country/100/bitcoin-atm-indonesia/

So Japan is not in Asia, what a news ! Japanese exchanges (JPY) are getting a bigger volume. BTC/JPY is probably the third or fourth most traded pair now.

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November 11, 2015, 09:36:41 AM
 #10

Well, Bitcoin is currently booming in popularity in Indonesia especially after the bomb incident, no surprise to see it getting to top 10 Tongue
The problem is, there's a big population of BTC users in Indonesia still getting the Bitcoin from Faucets which is a waste of time
I tried to tell them they can get better BTC on Sig campaigns but they seem don't care about it at all Sad
Maybe it's not the time for them to join sig campaigns Tongue

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November 11, 2015, 09:43:37 AM
 #11

I'm proud for this news !
but since indonesian economy still unstable, it's quite difficult to gather bitcoin holder.
Also recently , There are some incident like these one :  Indonesian bomber try asking for ransom and want to get paid for bitcoin. Because of this incident, bitcoin will received bad reputation  Sad http://www.thejakartapost.com/news/2015/10/30/alam-sutera-bomber-says-he-was-trying-repay-debts.html

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November 11, 2015, 10:28:15 AM
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I'm proud for this news !
but since indonesian economy still unstable, it's quite difficult to gather bitcoin holder.
Also recently , There are some incident like these one :  Indonesian bomber try asking for ransom and want to get paid for bitcoin. Because of this incident, bitcoin will received bad reputation  Sad http://www.thejakartapost.com/news/2015/10/30/alam-sutera-bomber-says-he-was-trying-repay-debts.html

This will always happen as bitcoin is currently the safest way to demand your ransom..

Really cool that Indonesia is starting to embrace bitcoin. Economic instability is a good motitvator to get in. But can also make it hard to enter as you don't have cash to spare and buy bitcoin with.

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November 11, 2015, 10:31:18 AM
 #13

IIRC bitcoin is illegal in indonesia.  Huh
how can bitcoin be tradable in indonesia?

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November 11, 2015, 10:41:16 AM
 #14

IIRC bitcoin is illegal in indonesia.  Huh
how can bitcoin be tradable in indonesia?

From which source have you learned this stuff? If it is illegal then why would there be an exchange having thousands of bitcoins being traded openly? Roll Eyes Russia is one country I know that prohibits any bitcoin-related activity.

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November 11, 2015, 10:42:07 AM
 #15



source : http://coinmarketcap.com/currencies/bitcoin/#markets
market : https://vip.bitcoin.co.id/

Indonesian is the next potential Asian power ?
we can see now indonesian market is the second largest market after China in Asia
and now in the top 10

what do you think about Bitcoin In Indonesia in future ?

for all investor are you interesting to open bitcoin ATM in Indonesia ? now we have only 2 place Bali and Jakarta
http://coinatmradar.com/country/100/bitcoin-atm-indonesia/

That's a great news. Not very unexpected though, considering the fact that population of Indonesia is over 255 million now.

I think the future of Bitcoin in Indonesia is bright because nowadays Indonesia's governmental structure is based on economic and political co-operation with Western nations.

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November 11, 2015, 10:45:41 AM
 #16

IIRC bitcoin is illegal in indonesia.  Huh
how can bitcoin be tradable in indonesia?
Indonesia's law is pretty neutral regarding bitcoin
Meaning they will let people do a transactions with bitcoin
But
If you somehow got scammed with Bitcoins you can't ask for the help from the law
Sad
That's what i heard from my fellow Indonesians Wink

But the good news is The citizen of Indonesia is accepting Bitcoins, There's a Bitcoin Cafe in Bali, Bitcoin ATMs in Jakarta
Too bad there aren't anything like that in my city Tongue

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November 11, 2015, 10:55:21 AM
 #17

Indonesia's law is pretty neutral regarding bitcoin
Meaning they will let people do a transactions with bitcoin

I believe it is not illegal to own bitcoin in Indonesia. Last year, Bank of Indonesia states that "bitcoin and other virtual currency are not currency or legal payment instrument in Indonesia". Things could have changed now in 2015, the legality of bitcoin in Indonesia is still unclear.
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November 11, 2015, 02:42:27 PM
 #18

IIRC bitcoin is illegal in indonesia.  Huh
how can bitcoin be tradable in indonesia?

let me explain little fact,i know this from any news about bitcoin in indonesia.yes thats right that bitcoin illegal in indonesia,but there was many bitcoin traded there,it because bitcoin have a good community they also have CEO of bitcoin indonesia,bitcoin illegal but not prohibit to be traded,they able to have bitcoin,but they cant use bitcoin for payment,indonesia govenor just legalize payment with local currency (IDR). that whyso many bitcoin traded in indonesia.
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November 11, 2015, 02:48:29 PM
 #19

i'm glad to see my country includes the top 10 biggest market of bitcoin in the world

and i'm really hope the volume still increase again every day
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November 11, 2015, 03:20:37 PM
 #20

Indonesia's law is pretty neutral regarding bitcoin
Meaning they will let people do a transactions with bitcoin

I believe it is not illegal to own bitcoin in Indonesia. Last year, Bank of Indonesia states that "bitcoin and other virtual currency are not currency or legal payment instrument in Indonesia". Things could have changed now in 2015, the legality of bitcoin in Indonesia is still unclear.

Not only bitcoin and other virtual payment,but dollar or other curency is illegal in Indonesia, you can't buy anything on store with dollar directly or you will get the punishment, but you can keep using bitcoin as comidity which is like gold,silver etc and you able to trade them.
 
here statemant of the Bank Indonesia

"Each party, either an individual or a corporation, must use the Rupiah (IDR) in every transaction in cash and/ or non-cash transactions in NKRI (Indonesia)"

And the statement about bitcoin

"In view of the Act No. 7 Year 2012 concerning Currency and Act No. 23 Year 1999 which has been amended several times, the latest with Act No. 6 Year 2009, Bank Indonesia states that Bitcoin and other virtual currency are not currency or legal payment instrument in Indonesia.
 
The society is encouraged to be careful toward Bitcoin and other virtual currency. All risks related to the ownership/use of Bitcoin should be borne by the owner/user of the Bitcoin and other virtual currency."

Official link : http://www.bi.go.id/en/ruang-media/siaran-pers/Pages/SP_160614.aspx

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