Indonesian Ban

[bachtiar13]

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

[Sidas_Crew669]

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
 

[Hamstead]

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

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.

[zemb]

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?

[CuriousGeorge]

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.

[innocent93]

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/

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.

[bobyhodob]

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

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.

[Theb]

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.

[Paul Pogba]

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.

[Cacingkemi]

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/

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.

[merchantofzeny]

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 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...

[Kevin77]

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. 

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.

[Ayush rana]

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

[sheilasekarbumi]

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/

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.

[dietmarfritz59]

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

[wuvdoll]

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.

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.

[Omega Weapon]

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.

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.

[chichigirl]

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/

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.

[azmimgd]

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.

[Kisanaq]

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

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.