Indonesian Ban

[lordquanta]

Every country have own decision about bitcoin, they have own reason to ban bitcoin not tobe used on their region, bitcoin can still use on their region but government do not have obligation to protect user bitcoin.

Countries are afraid about their economy. Governments think that bitcoin would decrease the average economy of their country. They are doing right in one sense but the government seem to be selfish they don't think  that it facilitates the people and is helping them to do exchange easily and transfer money from one place to another but think only about the economy of the country. 

To be frank, the users of bitcoin is always a minority in the entire parts of the world. Saying that it's selfish for the government to decide banning the bitcoin in Indonesia as the means of payment method just can't justify your statement. By allowing bitcoin, it will only facilitates small parts of community in their country while banning it and only use legal currency in their country could bring greater good for their economy.

If bitcoin community is still significantly small in a country then there is no point in banning the bitcoin is first place. Because that small group or community wont be able to make much impact on the economy. So there is no harm to the economy. However banning bitcoin will definitely affect the people from that country from prospect of getting rich or improve their financial situation with legal means. I mean buying bitcoin and getting rich after value of bitcoin increases is profitable to the people. And they are not committing any crime nor any fraud as well. A country could collect the tax from the people when they encash their profit from the bitcoin.

[thoerz18]

Bank Indonesia has a single objective of achieving and maintaining the stability of the rupiah. This has two aspects: the stability of the value of the rupiah against goods and services reflected in the rate of inflation; as well as the stability of the value of the rupiah against the currency of other countries as reflected in the development of exchange rates. In terms of execution of duties and authorities, Bank Indonesia implements the principles of accountability and transparency through publicly delivering information to the public at large through the mass media at the beginning of each year on evaluating the implementation of monetary policy, as well as monetary policy plans and the setting of monetary targets in the coming year .

[Ardan17]

Bank Indonesia has a single objective of achieving and maintaining the stability of the rupiah. Bitcoin transactions in Indonesia are still relatively low, only about 4 percent of the total world transactions. But over time the number continues to increase. He believes the central bank regulation will not be too influential because of the universal nature of Bitcoin.

[TTITA]

Bank Indonesia has a single objective of achieving and maintaining the stability of the rupiah. Bitcoin transactions in Indonesia are still relatively low, only about 4 percent of the total world transactions. But over time the number continues to increase. He believes the central bank regulation will not be too influential because of the universal nature of Bitcoin.

The central bank's regulation will not have much effect on the regulation in Indonesia. Bank Indonesia's concerns are premature. Some countries have also received bitcoin and legalized it. Although this requires a long process, but the act of forbidding bitcoin as a tool of transactions in Indonesia is not too true.
If the forbidden is in the form of an open bitcoin investment advertised in the mass media, trading like this I will agree to be banned.

[maxxdxx]

Indonesia makes many funny news. The statement of the deputy Governor of Bank of Indonesia just an absolute shame. Meanwhile, Bitcoin is top 10 on google based Indonesian search

[bachtiar13]

Indonesia makes many funny news. The statement of the deputy Governor of Bank of Indonesia just an absolute shame. Meanwhile, Bitcoin is top 10 on google based Indonesian search

In my opinion, BI is worried about the risks associated with the use of bitcoin by the public. This is because BI is sniffing the potential for bitcoin cheating to be used as an unlawful act, such as terrorism, money laundering, prostitution, and drug trafficking. so in this case there is a concern from BI.

[Lorin]

Bank of Indonesia has a reason why they ban bitcoin. BI have their own policy for their country and for their people.The government think that Bitcoin had the potential for financing, terrorism and other negative acts.

[inanilujimi]

I think this news will only push up the higher bitcoin prices.
because no one can stop bitcoin because bitcoin is not set by anything.

[f150]

Bank of Indonesia has a reason why they ban bitcoin. BI have their own policy for their country and for their people.The government think that Bitcoin had the potential for financing, terrorism and other negative acts.

Indeed, BI (Indonesian bank) prohibits bitcoin as a means of transactions in their country, and the only transactions allowed in Indonesia are only rupiah. But if the government only think its negative course Indonesia will not progress, positive thinking should also be done so that Indonesian people can successful and prosperous.

[nightxglow]

Yes, a sad news really.
I dreamed that someday i can use my bitcoin to buy or transact something in my country. But what now? They banned bitcoin as payment. What a nonsense.
Well ... at least they don't ban us to invest and earn money from bitcoin. Since quite many indonesian people use bitcoin as their source of income, including me.
But as far as i know, there haven't any official rules already about it? They also only said we need to take the responsible ourselves if we still want to use bitcoin to transact. Not really banned it, i think?

[saffira]

I feel lucky because although it is not yet declared as legal in our country, the good thing is it is not banned. Maybe we have nothing to to with it, government rules.

[Harley29]

Every country have own decision about bitcoin, they have own reason to ban bitcoin not tobe used on their region, bitcoin can still use on their region but government do not have obligation to protect user bitcoin.

Countries are afraid about their economy. Governments think that bitcoin would decrease the average economy of their country. They are doing right in one sense but the government seem to be selfish they don't think  that it facilitates the people and is helping them to do exchange easily and transfer money from one place to another but think only about the economy of the country. 

To be frank, the users of bitcoin is always a minority in the entire parts of the world. Saying that it's selfish for the government to decide banning the bitcoin in Indonesia as the means of payment method just can't justify your statement. By allowing bitcoin, it will only facilitates small parts of community in their country while banning it and only use legal currency in their country could bring greater good for their economy.

Its same situation as we see in past because bitcoin have already faced such a banned from china and after that bitcoin come back and the way bitcoin fight against china so I will must appreciate bitcoin because bitcoin don’t believe and don’t accept any banned because bitcoin is such a powerful currency and its believe to survive and I’m quite sure that still some fork want to disturbed bitcoin but they will be fail same like china.

It’s not a big deal for bitcoin it happen before with bitcoin and now bitcoin don’t care about any banned because when china banned bitcoin so at that time that was a first ban for bitcoin and it disturbed bitcoin price but then the way bitcoin fight with against china so its unbelievable and now it’s a time for Indonesia I’m hundred present sure that Indonesia will also be defeated same like china so no need to worry about any ban.

[dificanovi]

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/

indeed the people of Indonesia can not use crypto currency as a means of payment but the people of Indonesia does not prohibit using bitcoin. the people of Indonesia can use bitcoin as a means of payment if they have exchanged it to the Indonesian currency

[Triffin]

I feel lucky because although it is not yet declared as legal in our country, the good thing is it is not banned. Maybe we have nothing to to with it, government rules.

Well it is not good to say that we cannot do anything because we can do everything. We should make bitcoin high in price by using more and investing more but even then if a country use to ban bitcoin it will not have any impact on the importance and the price of bitcoin, if the government will find bitcoin good and they will accept the presence of bitcoin then defiantly it will not be banned in any country including Indonesia.

[zarintasnim]

Every country has won rules and regulation to lead their own economy. Indonesia has try to risk free economic system. Because they have  no control about bitcoin.

[Gracechen17]

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/

lol! same in my country. the government is not publishing articles against bitcoin investment. that it is too risky to invest in bitcoin that there is no guarantee that our investments are going to returned because bitcoin is not backed by the government and banks. it is not recognized too.

[barabarian1]

in some source new here, they will release new regulation about cryptocurrent that cant make transaction with bitcoin in a short time (i dont know short time will be 1 month or until next year) but many bank here that accepted blockchain system and will apply in their system, and the funny one is government will asking tax for cyptocurrent

[brickafterbrickwalldpt]

Their country, their leadership that they've choosen, and now they've got to live with it unless their current government makes a 180 turn in their opinion on bitcoin. To be honest I'm not really fond of the hostility towards bitcoins and cryptocurrency, but with lesser developed countries while it will hurt them in the process it's kind of understandable why they would want to ban crypto. It's still a taboo subject, and central banks don't want to loose their hegemony, so no wonder this is happening. Give it a bit of time and they will flip over in no time.

[jwpoke]

Any country that bans crypto currency is closing its door on future. Bitcoin represents more than just a digital currency. One can have a passive, conservative attitude towards this technology, but straight up banning it. Not wise, Indonesia.

I'm guessing that they will lift the ban in the near future after seeing all those missed opportunities.

[mostkey]

I am not surprised to hear that many countries are banning bitcoins. because sooner or later they will reopen the ban because they see great opportunities can be created from the existence of this crypto currency. although at first they felt threatened by the existence of crypto money