Indonesia’s Central Bank is Planning to Ban Bitcoin in 2018

[btcone111]

Well do whatever they want to do.
If big countries like Jpn and Korea have not completely banned btc, btc will stay and it would only become a secret way for people to hide their money in illegal countries.

[JohnnyCashers]

this is bad news, it can prevent the spread of bitcoin in the world.

[expert4knowledge]

I think this will have 0 effect on the market, Indonesia is such a small player in the game of cryptos

[Iqram fahmisyi]

He went on to detail additional restrictive measures by the bank, stating:

We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.

detail here https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/

what do you think about this ?

i think my country not ready to growing with this blockchain era.

Indonesian banks do not prohibit bitcoin but merely state that bitcoin is not a legitimate means of payment in Indonesia and bitcoin Indonesia has already stated that bitcoin only digital currency so will not replace the rupiah as the currency of the Indonesian state .

[Dexville]

He went on to detail additional restrictive measures by the bank, stating:

We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.

detail here https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/

what do you think about this ?

i think my country not ready to growing with this blockchain era.

This news release out of date, because Indonesia authority looking for taxes from every bitcoin transaction or profit. Thwy plan to include bitcoin as audit report items to tax payers. Right now bitcoin community still strong. If Government agencies really want to Ban bincoin maybe the biggest exchanger in Indonesia - bitcoin .co .id will be forced to close.

[Mr.X(999)]

They can't do it. They even didn't have any power to ban users. How could they stop technology? now days is modern and we need a good e-money like bitcoin. Even they block up the IP of users, we could do VPN or another IP changer to fake it out and access bitcoin site normally.

[omonuyak]

I keep on saying this that bitcoin was not discover for the purpose of it been used by the governments as most of it structure are anti-government!. If they like let them ban bitcoin and we are going to see another seriously rise in price again as many have seemed that bitcoin and other crypto currencies is the major ways the can break the hold from political office holders and elites, therefore we should not expect that Indonesia will allow bitcoin be.

[Flor1982]

He went on to detail additional restrictive measures by the bank, stating:

We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.

detail here https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/

what do you think about this ?

i think my country not ready to growing with this blockchain era.

Bitcoin can be use in illegal activities that is correct but we have the power to regulate it so that it cannot be used such illegal activities and for their other reason by your government to ban Bitcoin is because they want to make your currency to be strong and stable against any other currencies especially Bitcoin will if they are really true patriotic they should ban also the use of all other currencies including the US dollar too so that they will just rely alone on rupiah currency. This reasoning is a discrimination because the truth is they only hate the digital currencies but not the other currencies.

[zulkarnaen]

I don't think this is the right policy if the government is subject to the regulations proposed by the Indonesian bank to ban bitcoin transactions in the country, and this isn't a solution to improve the economy of the country that is still developing, in fact with the presence of bitcoin in the country this has provided a hope for a better economic future in the future

[ptan7703]

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[sordinihandbag]

Share some threads so that I can venture about the news -_-

[thrushzodiac8]

Is it even true? I think someone is tried to discourage the btcsians by such false news

[eurobend6]

That's a greatly discouraging step for real because indonesia is one of the principal economical bation of the world

[potterbean5]

Share some threads so that I can venture about the news -_-

[lastnumber]

Indonesia has too many problems in this country. Crime, corruption, bribery of officials ... I think the government has a reason to issue Bitcoin bans because Bitcoin is too secure and confidential for users. But the ban on Bitcoin is not a problem, as it is against the trend of e-commerce in the future. Maybe at some point, the government will adjust.

[lastnumber]

They can't do it. They even didn't have any power to ban users. How could they stop technology? now days is modern and we need a good e-money like bitcoin. Even they block up the IP of users, we could do VPN or another IP changer to fake it out and access bitcoin site normally.

May. They can not ban people from working and collecting Bitcoins because Bitcoin is always secure and safe for users. But the government has the right to prohibit the use of Bitcoin in trading activities. At the same time tightening management of banks involved in the conversion, exchange Bitcoin to cash. They are responsible for their country. And they have the power to issue bans. Hopefully in the future, the government will have a more positive solution.

[IMAR]

This is not a good news for Indonesians citizen who is involve in cryptocurrency. But I'm sure things will be ok with them. In this digital world, people find ways and the workaround on every situation even there will be sort of ban. Being in the Philippines who is supporting the technology, we are lucky as we can easily encash our earning through a legit exchange company. I'm sure the Indonesian government will find it way through a proper reconciliation regarding bitcoin/cryptocurrency in general.

[Yakamoto]

this is bad news, it can prevent the spread of bitcoin in the world.

Well no kidding it prevents the spread, but that's just to one small region that, in the end, likely doesn't even really have an effect on a majority of the markets that exist globally. I don't even think that there are enough people within the country in order to have an effect on the market within their region, let alone the world. Those who care enough about Bitcoin in Indonesia will likely get it one way or the other, and I will be surprised if there is a significant drop because of this. I don't believe the drop we just experienced is indicative of this news at all.

[Kez1817]

    Bitcoin is unstoppable,people who use bitcoin will continue to find a way in times like this that a central bank or a country planning to ban bitcoin. And sometimes those plans will not happen if they know other countries are now a growing country of cryptocurrency and the also found out that bitcoin help to increase the economic growth of other countries.

[endut15]

Indonesia has too many problems in this country. Crime, corruption, bribery of officials ... I think the government has a reason to issue Bitcoin bans because Bitcoin is too secure and confidential for users. But the ban on Bitcoin is not a problem, as it is against the trend of e-commerce in the future. Maybe at some point, the government will adjust.

indonesia btc prohibit it must have a clear reason. for example that is, Indonesia does not want if this country is getting destroyed. because most people are sometimes criminals to get results from btc. basically the indonesian is mostly not willing to try but it wants real, and it can not happen as well. because the work also requires effort.