Indonesian Ban

[cynical]

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.

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[ivrynx]

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.

[Burks]

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.

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.

[aoluain]

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.

[Nana_Marini]

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

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

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

[btcprospecter]

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

[amla]

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.

[ArdiPrabowo]

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

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

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

[Bitcoincole]

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

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

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.

[jatin729]

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.

[beerlover]

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.

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.

[wozzek23]

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

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

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

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.

[angelmavr]

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.

[Siren]

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.

[beerlover]

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

I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.

Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/

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.

[leonair]

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.

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.

[grermezter]

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.

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.

[preikaler]

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.

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

[mitchr4]

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.

[ask]

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.