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

[ClayDouglas]

How could anyone ban Bitcoin anyway. At least how can they stop a person from using it. They can't. It would just hurt that people can't make transactions with it, or easily convert it into fiat.

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[farwellbit]

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 are bad news, i don't know what kind of Government you have over there but i have a strong believe that after all, even if it will take some time, the Indonesian Government will realize the value of blockchain technology.

If it is real news so Indonesia cannot doing bad with bitcoin they will only suffer their masses and I hope people will insist in favour of bitcoin against the government. China have banned many time bitcoin in their country but later on China reopen block chains in the country so it is not a bad news for bitcoin, it is just a bad news just for Indonesians. Bitcoin  will not loss his value even the world accept it being a legal currency in all over the world or not.

[vonnyaries]

im indonesian, right now im in indonesian and hear about the issues, after i do some research i can get some point, the great point is as i know that bitcoin is banned to be the currencies for payment, to buy or sell something, and as i know that bitcoin can used for trading

[ansh_848]

Its not a good news for indonesians. Right now they can only sell their bitcoin if they have any because its a waste for you if government will ban it. There is another option for you, you can transfer your bitcoin to your friend which is in another country.

[PhucS]

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.

I know this information. While Bitcoin is volatile, the Bank of Indonesia Governor said the country will issue a ban on Bitcoin and other digital money, which will be enforced by 2018. It appears that your country take strict and thorough measures for digital money, this may make it difficult for people who are using Bitcoin in your country. I think they have a negative opinion about Bitcoin, they fear that it will cause the economy to go down and cause more risk in investment.

[Starone1]

I guess this whole blockchain technology brings a lot of threat to banks and the government because of it being decentralized and anonymous. I understand their stand of protecting their market and investors. But I think that technological advancement and creating regulations could go a long way as well. This said, where the balance between security versus advancement arises, I'm sure there are other ways where we can make both ends meet.

Nothing will happen to bitcoin because bitcoin don’t care about any ban in past bitcoin already faced ban from china and every one knows how bitcoin fight against them bitcoin is now very strong and stable because there is a very support to bitcoin by some rich countries and bitcoin know to make itself stable with high price in market so Indonesian will be most welcome for ban because we will support bitcoin forever and I wish that bitcoin will become more strong than ever.

[laguseklik]

Its not a good news for indonesians. Right now they can only sell their bitcoin if they have any because its a waste for you if government will ban it. There is another option for you, you can transfer your bitcoin to your friend which is in another country.

I'm indonesian and I'm following to this news a few months ago... From what I have read from various sources so far is "Indonesia’s Central Bank" just ban bitcoin for transactions... and not recommend people to have it because of high risk of the prices and they don't responsible for the resulting of loss.

[ajmapalo22]

I don't think Indonesia will really go over it because I believe what bitcoin is heading now will continue to succeed and I'm confident that it will recieve support from many countries soon enough after seeing how it can make a difference in the economy and lives of many individuals. Maybe some countries were afraid or confused with regards to digital market but I'm sure this issue will soon be settled

[Nana_Marini]

Really that Indonesia ban bitcoin in 2018? Blockchain is one superior technology right? Be patient and respect all of law guys we hope all is fine

[moynul2050]

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.

I know this information. While Bitcoin is volatile, the Bank of Indonesia Governor said the country will issue a ban on Bitcoin and other digital money, which will be enforced by 2018. It appears that your country take strict and thorough measures for digital money, this may make it difficult for people who are using Bitcoin in your country. I think they have a negative opinion about Bitcoin, they fear that it will cause the economy to go down and cause more risk in investment.

I do not even care about this news, and even China. Bitcoin is unlikely to be affected by this issue.
I strongly agree with your statement, this is a problem for the people of Indonesia who use Bitcoin. I'm sure many people will panic with this news.
I want to respond to this casually.

[etron]

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 is due to a rejection letter from the ministry of religion and they consider this to be a big gambling event in the world. and I think this is a big mistake because with the bitcoin in disbursement, the tax is huge, and it will also increase the country's foreign exchange. "Very disappointing with this ban, hopefully it will not happen."

[imdabest239]

It would probably be a good hit to the Indonesia community in here, so i wouldn't be surprised if they really ban bitcoin in a near future, but yes, the banks really need to stop spreading fud about it.

[AbyssLagiaz]

This goes for the bad news for Indonesia. I wonder how many are panic selling their Bitcoins right now in Indonesia. This is one of the things I've expected the government will do if they started to put an attention to cryptocurrencies. They can either ban it or put tax into it. If they will really plan on doing it, then it isn't really the end. It will encourage a lot more users to use VPN to continue their use of cryptocurrencies.

[neite99]

Even if they ban it I am sure people would figure a way to invest in it and earn money from it. Furthermore if they ban it and if a neighbor country adopts it they would have no choice but to adopt it.

[finthebar]

Many governments dont like bitcoin because it poses a percieved threat to their power. They might try to ban it but doing so might not have the desired effect. It is pretty difficult to isolate bitcoin traffic on the internet and stop that, while leaving other traffic through.

[syaripudin]

this is really very unfortunate once Indonesia indeed really do prohibition on bitcoin activity that exist in Indonesia country. but as I know that the state of Indonesia is as one country that has a high rate of unemployment. if this prohibition is not balanced with a thing that can overcome the problem of unemployment rate in the country of Indonesia I think this is not a right decision. because I am convinced that the existence of bitcoin activities at this time at least can reduce the level of unemployment in the country of Indonesia and of course this will be able to improve the progress of the country of Indonesia.

[achsan fauzy]

there are plenty of rumour regarding bitcoin and government in indonesia but most of indonesian people still can use bitcoin until today because own bitcoin not against the law and currently they only prohibit bitcoin to use to physical stores and daily transactions because indonesia government said they only consider bitcoin as digital asset but not as the currencies which is can use on everywhere

yes indeed a lot of rumors that are issued by the government of indonesia about bitcoin, but I am sure it does not affect bitcoin users in the country of indonesia.

[vintages]

Whoa! This is not a welcoming news. Does that means Indonesia is moving herself away from modern technology? And then everyone was complaining about China banning ICOs, nobody ever think Indonesia will take this turn. I guess this opens the door to Japanese as a led in modern technology. They should rethink this issue, Bitcoin may not be a currency, but countries should learn to embrace it.

[Shenzou]

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.

I think that the cryptocurrency is going to faced with a big probelm in the next couple of years, and that is regulation, since cryptocurrencies and bitcoin in particular have seen a massive increase of use, and this has made it to be under the spotlight of goverments who in their part need to take regulations concerning it, because people can mke tons of moeny from it without paying taxes, and others can use it for illeagal activites without being tracked down, so with it not being able to be controlled, it is no suprise for us to see goverments today banning it.

[spyerf]

there are plenty of rumour regarding bitcoin and government in indonesia but most of indonesian people still can use bitcoin until today because own bitcoin not against the law and currently they only prohibit bitcoin to use to physical stores and daily transactions because indonesia government said they only consider bitcoin as digital asset but not as the currencies which is can use on everywhere

yes indeed a lot of rumors that are issued by the government of indonesia about bitcoin, but I am sure it does not affect bitcoin users in the country of indonesia.

That's right, because they can feel the benefits of bitcoin. As we know the unemployment rate in Indonesia is still high, with bitcoin they can earn income to meet daily needs.