Price After Indonesian Ban

[hugeblack]

Some news Came from Indonesian  say

The head of Bank Indonesia, Indonesia’s central bank, has threatened action against bitcoin adopters if the cryptocurrency is used as a method of payment.

Are this news if be right will effect in Bitcoin price

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

[ihsanskanzaone]

I think after the ban of bitcoin in Indonesia as a valid transaction tool actually even increase bitcoin users in indonesia because firmly ceo bitcoin company in india firmly say that bitcoin is not a currency but digital object that can be used as medium of exchange. Bitcoin in say is similar to gold because gold is also an item that can be used as a medium of exchange where the exchange rate is not determined by the government.

[teilwalL05]

I think it is still in process the banning of Indonesian central bank to bitcoin, well they are scared of the risk involving Cryptocurrency payments and because of this I think their minds are clouded not knowing the thins Cryptocurrency can do with the process of transaction in their country, well in my opinion if the percentage of market cap towards Indonesia is at large there will be a huge impact involving with the value of bitcoin.

[Slow death]

They can do whatever they want, there are other countries that will accept bitcoin

" In his embracive approach to bitcoin, Bangko Sentral ng Pilipinas (BSP) deputy director Melchor Plabasan :

"It’s like any other monetary instrument [and even] an investment instrument. There are risks but essentially, it can be managed. If you want something that is fast, near real-time and convenient then there’s the benefit of using virtual currencies like bitcoin."

In August, the Australian government regulated the bitcoin industry for the first time. This week, new draft laws that offer an easier path for FinTech startups and initial coin offerings (ICOs) into the market has been proclaimed as a “game changer” by Australian Treasurer Scott Morrison. "

well they are scared of the risk involving Cryptocurrency payments...

they are worried about their political system, seeing many people make money freely is not something that all governments want

[JeffBrad12]

Some news Came from Indonesian  say

The head of Bank Indonesia, Indonesia’s central bank, has threatened action against bitcoin adopters if the cryptocurrency is used as a method of payment.

Are this news if be right will effect in Bitcoin price

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

the central bank of Indonesia is a banker, and you may understand about what already said by me. As the bankers and the digital currency will against the cryptocurrency and that means the fiat currency manipulator will try to hate the bitcoin. So this will not make any surprise for me about the Indonesia's central bank try to ban the bitcoin. This doesn't give impact to the bitcoin as this time bitcoin gets a little correction.

[GetOutOfMyLife]

Some news Came from Indonesian  say

The head of Bank Indonesia, Indonesia’s central bank, has threatened action against bitcoin adopters if the cryptocurrency is used as a method of payment.

Are this news if be right will effect in Bitcoin price

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

the central bank of Indonesia is a banker, and you may understand about what already said by me. As the bankers and the digital currency will against the cryptocurrency and that means the fiat currency manipulator will try to hate the bitcoin. So this will not make any surprise for me about the Indonesia's central bank try to ban the bitcoin. This doesn't give impact to the bitcoin as this time bitcoin gets a little correction.

I agree with you that Indonesian central bank ban or hate bitcoin not affect to bitcoin price so much. One, Indonesia not same as China who hold a huge of bitcoin mining. They can affect to capicity of market. The second, banker not whole of system, they can ban bitcoin as illegal monetary, but BTC is not included of their economy, Indonesian still can buy or sell BTC via ecurrency not Indosia Rupiah :3

[DaMut]

It's a bit complicated in my opinion,
Slowly the banker pressed Bitcoin adaptors to not use their coin to do the trade,
They said will make a move if Bitcoin adaptors use it as their payment method,which mean they're openly fight against it and they want to remove it slowly by saying it.
What will happen if Bitcoin can not be used in a real life ?
Indeed there'll be another country will accept it,but i am sure there will be another one who will be doing the same like this one.
Well at least it's not determined yet by the goverment,which mean it has a possibility to get used by people if it can show them its value and function.

The main problem is not about them,but the banker slowly made a move and prevent other people to use it.

[aardvark15]

They can do whatever they want, there are other countries that will accept bitcoin

" In his embracive approach to bitcoin, Bangko Sentral ng Pilipinas (BSP) deputy director Melchor Plabasan :

"It’s like any other monetary instrument [and even] an investment instrument. There are risks but essentially, it can be managed. If you want something that is fast, near real-time and convenient then there’s the benefit of using virtual currencies like bitcoin."

In August, the Australian government regulated the bitcoin industry for the first time. This week, new draft laws that offer an easier path for FinTech startups and initial coin offerings (ICOs) into the market has been proclaimed as a “game changer” by Australian Treasurer Scott Morrison. "

well they are scared of the risk involving Cryptocurrency payments...

they are worried about their political system, seeing many people make money freely is not something that all governments want

Correct, there are many countries that accept Bitcoin just like they do with credit cards and PayPal. Other countries fear it and want to stop it.

There is nothing inherently bad about cryptocurrencies so the will of the people will eventually prevail. The countries that lag behind will eventually have to accept it or miss out on innovation. They can’t really stop a grassroots movement that has almost 10 years of momentum.

[LFC_Bitcoin]

I doubt any ban by Indonesia will do anything, I can’t imagine that much bitcoin trafing/use even goes on there. Even China couldn’t keep the price down for long so Indonesia won’t.

[greeklogos]

From this thread I knew that they just pan to start the action against of bitcoin, but there is no necessary legislation to it would be like it should to be. For now it's only words, which we shouldn't scare and start to panic.

[gentlemand]

Why would anyone give the slightest shit about Indonesia?

And the only people who can ban anything are parliaments. Central banks have no power over this type of thing. All they do is bank.

[Ayiranorea]

I doubt any ban by Indonesia will do anything, I can’t imagine that much bitcoin trafing/use even goes on there. Even China couldn’t keep the price down for long so Indonesia won’t.

Even if the information seems true, we won't be experiencing any sort of big price crash or something similar to that, because Indonesia has a growing market whereas China holds a grown market. Recently China's issue itself didn't affect the bitcoin, so this time Indonesian ban too won't affect the growth.

[lili song]

Currently Japan and South Korea are still the lead who had the biggest bitcoin global market in the world so Indonesia will not affect to much as I know their global market transaction still less than 1 % it means that who own or trade bitcoin in Indonesia, still less than 1 million people

[jakagintiri]

Well, I've read it, in fact, they do not forbid bitcoin to be in Indonesia, but prohibit if bitcoin is used as a tool for transactions in a trade or other. I feel the Indonesian government will not ban bitcoin. They claim to use the only fiat to transact. Indonesia has no effect whatsoever so it can't be like Chinese which makes bitcoin prices drop drastically

[Kemarit]

Well, I've read it, in fact, they do not forbid bitcoin to be in Indonesia, but prohibit if bitcoin is used as a tool for transactions in a trade or other. I feel the Indonesian government will not ban bitcoin. They claim to use the only fiat to transact. Indonesia has no effect whatsoever so it can't be like Chinese which makes bitcoin prices drop drastically

Exactly, this is how I interpret the news. They are not banning bitcoin but gives warning or prohibits the used of bitcoin as payment method. So its not a outright ban just like China did. Well we have such a big Indonesian community here so I guess some of them will continue to do trade with bitcoin because it is really unstoppable now. We have gained so much momentum that no country can pull back what he have accomplished so far. So they can do whatever they want but as far as we are concern, their will be no dent in the price, maybe a minor price dip but it will be just temporary. And for Indonesian's who are earning through bitcoin by signature campaigns or trading, I think you can still continue because its not a banned but most likely the government just issue warnings about the implications of using bitcoin.

[sofi@]

This is like what happen when China decided to ban bitcoin it makes so much noise and speculation that bitcoin will soon die or will be dropping very low but it did not happen instead the value keeps appreciating and reach $6000. I don't Indonesia will ever make a difference with the pricing or it will not affect to bitcoin appreciation what was happening to bitcoin is just a normal fluctuations and no country will ever affects it

[shrikant7t]

I think it will increase price..there are very low chances of getting value down because of this

[InvoKing]

Some news Came from Indonesian  say

The head of Bank Indonesia, Indonesia’s central bank, has threatened action against bitcoin adopters if the cryptocurrency is used as a method of payment.

Are this news if be right will effect in Bitcoin price

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

The central bank of Indonesia which isn't controlling Bitcoin threats to ban it. Seems logic 
And they don't like to see the cryptocurrencies used as a payment method? What should it used to be? A food?
Even the food was used as a currency in order to trade it with clothes,....etc!

[mobnepal]

This news might not effect bitcoin's price just like how news about arrest in Nepal came out earlier this month hadn't affected the market. Indonesian crypto market is comparatively very small from what I know so it can't affect the price globally. But it is true that it will be hard for indonesian people to trade/sell their bitcoin for fiat and vice versa because of fear of getting caught by authorities.  

We want bitcoin to get regulated not to be banned completely without any logical reason.    

[kodtycoon]

Some news Came from Indonesian  say

The head of Bank Indonesia, Indonesia’s central bank, has threatened action against bitcoin adopters if the cryptocurrency is used as a method of payment.

Are this news if be right will effect in Bitcoin price

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

I guess if that country is banning bitcoin, I'm sure it will not have a big effect on bitcoin prices. Furthermore the news in that news quote only ban to be used of payment method and does not ban to use. In that case it means people in that country can still have bitcoin but with record, no support from the government and also government in that country does not say bitcoin is illegal.