Indonesia Banks Penalizing Bitcoin?

[dietmarfritz59]

Do you think this will affect the price of bitcoin over the next few days?

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[cellard]

Do you think this will affect the price of bitcoin over the next few days?

It is truly irrelevant. Just look at this news for instance:

https://www.theregister.co.uk/2017/10/30/vietnam_bans_bitcoin_as_payment_for_anything/

The Bank lists conventional payment mechanisms like cheques, payment orders and credit cards as permitted, but then adds (after translation) that “Bitcoin virtual currency and other similar is not lawful means of payment in Vietnam; The issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is prohibited in Vietnam.”

Fines of around US$9,000 apply to those who accept or offer payments in virtual currencies.

Meanwhile, bitcoin keeps hitting all time highs on a daily basis. I wouldn't worry about bans, the market no longer cares. Maybe if US banned it it would have an impact, the rest of the countries are pretty irrelevant.

[Hamphser]

Do you think this will affect the price of bitcoin over the next few days?

This would be nothing. Have you already seen the situation on where China did plan to ban bitcoin and do try to regulate ICO. What happened? Price did really decrease on some points but not totally the reason for it to dump. No matter how they would oppose bitcoin its success cant really be stop as of now which we are already seeing that it starts to fly again reaching out unexpectedly $7k usd in no time.

[clarkt]

Bitcoin is not easy to ban or curtail because it is transnational in nature. China dramatic ban few months ago did nothig to the price of bitcoin. Indonesia or other small Countries will do nothing to the price of bitcoin.

[DaMut]

i do not think it will affecting Bitcoin price,
also they're pelanizing or banning Bitcoin users in indonesian to use it as their payment.
what i mean is openly used in indonesian,
they did not allow that,also they said 'will' take an action if the users use it in their real life.
so that mean right now they're not totally banning it,it's just a warning for indonesian citizen.
nothing to worry about actually.
the real problem in their eyes is volatility,and because of that some countries started to 'keep' their citizen until it's a bit stable.
but they did not openly banning it,it's just a statement no law.

[avikz]

Do you think this will affect the price of bitcoin over the next few days?

Do you have any source of this news? because I didn't come across any such news recently. What kind of penalization you are referring here? Please explain. Banks will stand against bitcoin because it is hurting their business big time. But at most they can pass false statements about bitcoin to discourage people from holding it. Or they can block the account of a known bitcoin trader. But they can't stop bitcoin transactions in their country. So a little more details will help us to analyze this situation in a better and more meaningful way.

[ajqjjj]

Do you think this will affect the price of bitcoin over the next few days?

Bitcoin is the top most cryptocurrency. It price also high value in Indonesia. Many poor peoples are living in the city. So it will not support for all the area. In future all the countries are using cryptocurrency. Most of the countries already developing and some countries developed in the society. This cryptocurrency is possible in these types of countries only other countries take more time to grow a digital world. Some peoples are most richest person in the city. These peoples are invest in cryptocurrency and transaction also possible. Banks are not punished in Bitcoin.

[cotton ball]

If bitcoin banned in Indonesia, the first closed is the trading market. In fact, they (VIP market) have no problem with the government and still survive until now, Indonesia's finance minister does not know bitcoin legally, but in no way prohibits it, Indonesia is a country that appreciates technological innovations such as bitcoin and is just waiting for US and Russian attitudes to make strong rules. This in no way affects global bitcoin prices because their user volume is still below 20% overall.

[dothebeats]

No, Vietnam is also experiencing the same thing but I doubt it will ever cause a ripple in the waves of bitcoin's economy. The money is flowing in many countries at this point in time that it's hard to track who contributes what in terms of volume but surely it wouldn't be much of a loss of the indonesians and the Vietnamese gets lost in the trading action.

[Siren]

Do you think this will affect the price of bitcoin over the next few days?

This is an old news. Its like 3-4 days ago. To answer you, NO, it didn't put a significant dent on the market. If you just look at the price right now, its gearing towards market highs and besides Indonesia is not a big players as compare to like Japan or China. Although we appreciate Indonesians friends here, but with respect to them, they just comprises a small percentage in terms of bitcoin activities, trading/investing. But I know that they will continue to use bitcoin eventhough there is a ban from their country. I'm sure of that.

[pitiflin]

Do you think this will affect the price of bitcoin over the next few days?

Nah... Indonesia is a small country and has less amount overall contribution towards bitcoin I guess. So hardly it's going to influence anything. Whales are making sure bitcoin doesn't crash now and no wonder the price is not dropping heavily.
Penalizing will hardly affect the consumers of bitcoin, so no problem should arise. A little trouble Indonesian consumers might get, but it will be handled soon.

[alfs75]

Do you think this will affect the price of bitcoin over the next few days?

If indonesia banks penalizing bitcoin it would not affect the price of cryptocurrency because,it is very small country and also one part  of a third world country.by the way the banks and bitcoin have a different path in terms of service, so why should banks can make punish bitcoin?and even they have a right to punish the price of bitcoin will not affected because banks handlingbfiat money while bitcoin in digital currency unless in indonesia they collaborate each other.

[PokerDiceMan]

Do you think this will affect the price of bitcoin over the next few days?

indonesia bank not baned and not penalizing bitcoin , only bitcoin can't use payment in online store or offline, same use local fiat money in there
not big effect, because in indonesian exchanger, volume transaction in there not big, still standard you can read in coinmarketcap

[gabmen]

Do you think this will affect the price of bitcoin over the next few days?

Lol. If the chinese ban on crypto exchanges didn't slow bitcoin down, i don't think this penalizing would have any significant effect. If they're trying to make people panic sell again with that news then its not going to work anymore

[Buntel168]

Do you think this will affect the price of bitcoin over the next few days?

Lol. If the chinese ban on crypto exchanges didn't slow bitcoin down, i don't think this penalizing would have any significant effect. If they're trying to make people panic sell again with that news then its not going to work anymore

Nothing can stop Bitcoin, i think this it's just issue, it will be big losses in a country if it does not legalize bitcoin for transactions.

[Allan Ramanda]

Do you think this will affect the price of bitcoin over the next few days?

This is an old news. Its like 3-4 days ago. To answer you, NO, it didn't put a significant dent on the market. If you just look at the price right now, its gearing towards market highs and besides Indonesia is not a big players as compare to like Japan or China. Although we appreciate Indonesians friends here, but with respect to them, they just comprises a small percentage in terms of bitcoin activities, trading/investing. But I know that they will continue to use bitcoin eventhough there is a ban from their country. I'm sure of that.

i agree with you, the contributor in indonesian for bitcoin is not so big, so this will not be too big effect on bitcoin. for example it's just china that has a big contributor on bitcoin. and the results of bitcoin still have the highest price.

[ethereumhunter]

Do you think this will affect the price of bitcoin over the next few days?

This is an old news. Its like 3-4 days ago. To answer you, NO, it didn't put a significant dent on the market. If you just look at the price right now, its gearing towards market highs and besides Indonesia is not a big players as compare to like Japan or China. Although we appreciate Indonesians friends here, but with respect to them, they just comprises a small percentage in terms of bitcoin activities, trading/investing. But I know that they will continue to use bitcoin eventhough there is a ban from their country. I'm sure of that.

i agree with you, the contributor in indonesian for bitcoin is not so big, so this will not be too big effect on bitcoin. for example it's just china that has a big contributor on bitcoin. and the results of bitcoin still have the highest price.

yes because indonesian people which already knew bitcoin will still use bitcoin in many things. with the benefits from bitcoin, i am sure that they will trying to get more bitcoins so they can make money like us. although bitcoin in indonesia is not too big, but they will support bitcoin because they contribute too in bitcoin world. i think we can wait for the other news from the indonesia banks and i hope that their banks don't banned bitcoin.

[deadsilent]

This wont affect Bitcoin as a whole. Indonesia is not a big player of Bitcoin. Also i don't think there's a huge impact to Bitcoin if they ban Bitcoin as payment method since they don't even want to spend it for anything. They want to keep it than spend it. Besides, few stores and establishments are accepting there. If you look at the price. It doesn't affected by the news. Actually, it continues to hit it's all time high. But if they implement a total ban to Bitcoin. That's a different story. I think Bitcoin will drop a bit. Traders there are lucky though. The government didn't ban Bitcoin.

[CyberKuro]

I can't find any news regarding Indonesian banks penalizing bitcoin, you should share a link about it.
As far as I know, Indonesian central bank does not support bitcoin as legal payment and this is an old news.
First reported by CCN in early 2014, the country’s central bank issued a public notice warning citizens to be careful of adopting virtual currencies. “Bank Indonesia states that Bitcoin and other virtual currency are not valid currency or payment instruments in Indonesia,”
https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/
But, their government didn't issue a regulation which prohibit their citizens to use or trade bitcoin.
So, it won't be affect bitcoin price I guess, nothing at all.

[arakuns]

Bitcoin can be easily banned by any government because it is transnational money and no one controls it