Indonesian Government Banned Bitcoin

[Javathon]

I am Indonesian, after about 6 years living with bitcoin life, mining, trading and join bitcoin community, from mining and trading i got more income and others benefit but what  happen now? bank central of indonesia will ban bitcoin, Fucking stupid  Indonesian government

https://news.bitcoin.com/indonesia-media-urge-bitcoiners-to-cash-in-ahead-of-coming-crypto-ban/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Why would the government hinder the financial growth of other people, and why do they see bitcoin like a poison in the economy? It helped many people I know and there are more people who will benefit in bitcoin and in cryptos if the government will allow the circulation of cryptocurrencies.

[cosmoo]

I am Indonesian, after about 6 years living with bitcoin life, mining, trading and join bitcoin community, from mining and trading i got more income and others benefit but what  happen now? bank central of indonesia will ban bitcoin, Fucking stupid  Indonesian government

https://news.bitcoin.com/indonesia-media-urge-bitcoiners-to-cash-in-ahead-of-coming-crypto-ban/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

You must to leave this country, I don't know what else you can do. Move to country that accepted or will accept bitcoin in future.

[retnoanjani]

actually the only prohibited to be used as payment, because the legitimate currency in Indonesia is only rupiah. so, the ownership of bitcoin investment is not prohibited, but the risk of loss etc. is not guaranteed by the government.

[ace4549]

The government always provide what is the best for the both parties and I think Indonesian government has a reasonable reason why they banned the company and management of bitcoin.
As far as I know most of Indonesian are cash-based which they consider only cash in all traction which in this kind of trade bitcoin cannot survive because there will be small market that will cover their product.

[jak3]

Instead of judging over the government of any country or their decisions I would like to accept the fact that Bitcoin has some defects which are harmful for normal citizen. Let's face the fact Bitcoin cannot beat cash till now because the transactions are very slow the fees are high and also people are getting scared frequently. All these points are enough to prove that Bitcoin is still now risky. Now let's talk about their decision as well I am sure government has thought about this decision before making it but it's true that Bitcoin has a lot of potential and is necessary to remove the corruption from any country.

[subSTRATA]

Indonesian Central Bank is only bluffing. They dislike Indonesian people holding currencies other than rupiah. They don't want us Indonesian people benefiting or being rich from bitcoin. We Indonesians will not subdue to these centralized & corrupt scumbags. I still hold my bitcoins and my other alts. I couldn't wait what they are going to do next week.

Most govenments are missing it. Trump knows he cant stop it...hes just like we are watching the bitcoin. Cause knows the reality. But i this some gvt just say things they have no idea of

Another suppressive country who's inhabitants specially need Bitcoin to free themselves from the tirany of their corrupt, control freak, selfish, extortionating leaders, who keep 98% of the population poor by enriching themselves shamelessly.

and this sort of oppression is something that the idea of bitcoin goes against, resists even. the decentralization of bitcoin puts its strength in the numbers of its users, and prevents one single entity from taking control of the network without an unreasonable amount of effort and investment. ideally, i'd like to see bitcoin win over this sort of oppression, but it only goes as far as the people and users are willing to. that being said, im not too familiar with the indonesian government and how it operates, and this ban might not be the result of oppression, but bitcoin is fully capable of weathering through much more than this.

[CrowdFunder]

actually the only prohibited to be used as payment, because the legitimate currency in Indonesia is only rupiah. so, the ownership of bitcoin investment is not prohibited, but the risk of loss etc. is not guaranteed by the government.

In other words trading and speculating is allowed but shops aren't allowed to accept is as a form of payment? That is still very restrictive but I don't think many physical shops in Indonesia were accepting bitcoin as a payment method anyway.

[Karen23]

Do not worry, people in Indonesia who have bitcoins in their pocket will surely make a way to continue their bread and butter.  Do not panic.  If this is true and officially release their will be a crash for days or weeks but this will also good to some investors who will benefit the correction.  So do not worry store your BTC.  Do not sold them yet.

[enterprevic1]

This probably happened because it helps aid money laundering

[Shenzou]

I am Indonesian, after about 6 years living with bitcoin life, mining, trading and join bitcoin community, from mining and trading i got more income and others benefit but what  happen now? bank central of indonesia will ban bitcoin, Fucking stupid  Indonesian government

https://news.bitcoin.com/indonesia-media-urge-bitcoiners-to-cash-in-ahead-of-coming-crypto-ban/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

from what i understood in the article is that they are afraid of bitcoin being used in the wrong way, as bitcoin provides total anonymity to the person usi,g and banks and goverments will not be able to track down the money entering or leaving the country or wether it is legit or not, many countries are having the same prespective but some of them are afraid of it so they ban it, like  maroco and indonisia and russia to name a few, and others relized that they are unable to stop it so they embrace it and try to use it for their advantages.

[emberbekas]

As I understand, the government will ban the use of bitcoin as a means of payment. But to make everything clear, let's wait what the rules will look like. Whether we are still allowed to store bitcoin as an asset or not.

[HashieNewb]

I think Indonesian government has a reasonable reason why they banned the company and management of bitcoin.
As what I read most of Indonesian are cash-based which they consider only cash in all traction which in this kind of trade bitcoin cannot survive because there will be small market that will cover their product.

If a government bans Bitcoin then it might look like they are trying to purchase Bitcoin without anyone openly knowing about it.

[SHAWN-MIDWAYS]

I am Indonesian, after about 6 years living with bitcoin life, mining, trading and join bitcoin community, from mining and trading i got more income and others benefit but what  happen now? bank central of indonesia will ban bitcoin, Fucking stupid  Indonesian government

https://news.bitcoin.com/indonesia-media-urge-bitcoiners-to-cash-in-ahead-of-coming-crypto-ban/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

I can only imagine how much time you have invested in cryptos and all the knowledge you have attained that can be passed on to others, this really is a blow to the crypto community in indonesia and the crypto world as a whole as this should have been used as a platform for financial litercy. From the article it sounds like digital currencies are extensively used in Indonesian such that the governor says the ban is done to maintain the sovereignty of the rupiah as legal tender   but afaik btc is in this equation as a supplementary.

[chris molty]

How to take it? after china ... bad news starts for bitcoin?

[Karen23]

Do not worry, people in Indonesia who have bitcoins in their pocket will surely make a way to continue their bread and butter.  Do not panic.  If this is true and officially release their will be a crash for days or weeks but this will also good to some investors who will benefit the correction.  So do not worry store your BTC.  Do not sold them yet.

[Pasabm]

Let's wait what will happen if the Indonesian government forbids bitcoin. So far the government only claims that bitcoin is not a valid means of payment. What prohibition will they set, whether the bitcoin can not be used. Then how the fate of investors who invested bitcoin.

[habibruis]

Bitcoin does not care any government ban. We will support bitcoin forever.  Let's support to bitcoin without any government abstractness. I hope all the governments of the world will be forced to approve Bitcoin one day.

[danggoron]

Let's wait what will happen if the Indonesian government forbids bitcoin. So far the government only claims that bitcoin is not a valid means of payment. What prohibition will they set, whether the bitcoin can not be used. Then how the fate of investors who invested bitcoin.

The Indonesian government forbids bitcoin to be used as payment, because according to the legitimate currency law is rupiah. however, I believe that the government will not completely ban it, because the government is getting interested in blockchain technology, and some big banks will adopt the technology.

[MD Milon]

[quote aunow globally bitcoin user are increasing ,also in Indonesia.this government banned bitcoin,because of lakings of information,digital currency crashed,but ,now bitcoin popularity also so much in Indonesia.

[zais]

I am Indonesian, after about 6 years living with bitcoin life, mining, trading and join bitcoin community, from mining and trading i got more income and others benefit but what  happen now? bank central of indonesia will ban bitcoin, Fucking stupid  Indonesian government

https://news.bitcoin.com/indonesia-media-urge-bitcoiners-to-cash-in-ahead-of-coming-crypto-ban/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

according to news news that i know indonesia will BANNED bitcoin 2018 .... i am native indonesi ... whether the news is true or just hoax wait for more news