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

[tominsoto]

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 it will only be an issue that will disappear by itself
because my country Indonesia is always like and the issue will disappear by itself

[daarul50]

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.

Probably most bitcoin users taste in Indonesia but they are not the big holders of bitcoin so although the news is true it will not be a big influence on the price movement. Currently affecting the bitcoin price movement in the world is the activity of large exchange like bittrex, binance, hitbtc, and others.

[Dmitry.Vastov]

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.

We all are very much aware with this fact that whenever the new technology introduces, there comes the new haters and this is same happening with the bitcoin also. A very wise man once said that “ initially they will welcome you, then they will ignore you, tether they will hate you, then we will win” and now we are in hating period. And I am very much sure for this thing also that as soon as people will come to know about bitcoin potential, they will start loving it.

[timerland]

Honestly, this is extremely detrimental to Indonesia itself. Especially when crypto is a growing sector and you're essentially trying to ban BTC which is the major crypto. It means that essentially, businesses are forced out.

Regulation is much better than an outright ban in these scenarios.

I don't see a complete and utter ban of crypto a likely scenario for Indonesia though, as even though this was basically released months ago, no new action was taken, no new bans, etc. It's unlikely for any country to ban bitcoin itself. Much more likely for them to put some sort of restriction on exchanges within their country.

[weeklyeth]

indonesia is developing economy i won't think Indonesia will take this drastic decision it will definitely effort the economy in large hopefully they take back decision of banning bitcoin trade

[nightways]

indonesia is developing economy i won't think Indonesia will take this drastic decision it will definitely effort the economy in large hopefully they take back decision of banning bitcoin trade

Banning of this mighty coin of the crypto market is really awful decision for the economy for the country and for the people of the state. Everyone these days want lavish life and more ways of making money. With day jobs, investing into bitcoin is going to make you rich beyond your imaginations and if people are rich, they will strat business which is automatically going to enhance the economic state of the country.

[stayeduptolate]

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.

Not Indonesia there are many countries who has banned crypto currencies in their nation and who are in completely against of legalisation of bitcoin in their nation, bitcoin has always been in controversy because of its flactuation in the valuation and its illegal use two, these two factors are responsible for not legalising bitcoin in their nation but for them my advice is that they should once talk with those who has legalised crypto in their nation and now experiencing a new way of development in their nation.

[checkmatesir]

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.

We all are very much aware with this fact that whenever the new technology introduces, there comes the new haters and this is same happening with the bitcoin also. A very wise man once said that “ initially they will welcome you, then they will ignore you, tether they will hate you, then we will win” and now we are in hating period. And I am very much sure for this thing also that as soon as people will come to know about bitcoin potential, they will start loving it.

It is not good for Indonesian people because they would not be able to trade in bitcoin freely but on the whole it will not affect the bitcoin popularity and investment. In my country bitcoin is also banned by the government but still thousands of people are trading and investing in bitcoin. We are facing just a small problem and that is converting bitcoin in our local currency.

[brotherwood12]

i think its will not happens (?) , the news after the conference indonesian is on netral posisiton and didnt make any regulation about banning the cryptocurrency

[nightxglow]

I think i have seen that news for a long time already, but still i don't hear anything about it anymore?
Like they only say it the moment when bitcoin is being a hype and cause kinda controversial. But now, no move is being made. Good thing though, because i don't think it's necessary for them to make regulation about bitcoin. But like you say, sadly our country is not ready for blockchain era.
They should care about more important things though rather than wasting their time and energy to make something that actually doesn't matter much, and doesn't effect badly to the country.

[chosenboy4]

This decision will not make any difference to bitcoin but surely Indonesia is going to face the consequences of this

[Deubila]

I think i have seen that news for a long time already, but still i don't hear anything about it anymore?
Like they only say it the moment when bitcoin is being a hype and cause kinda controversial. But now, no move is being made. Good thing though, because i don't think it's necessary for them to make regulation about bitcoin. But like you say, sadly our country is not ready for blockchain era.
They should care about more important things though rather than wasting their time and energy to make something that actually doesn't matter much, and doesn't effect badly to the country.

I think it's just the news or maybe their government, do not understand the electronic money. This ban may be an immediate solution for them. They will solve all the problems that affect the country. At that time, they just started to get involved. I believe that every country must gradually gain not in a hurry.

[toolucky98]

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.

if they said that digital currencies potentially used for terrorism financing and money laundering. they don't remember the fact that fiat is misuse by the people to do corruption, they only see the bad side of the crypto, they don't want any changes and take steps to the future.

[shadyrifles]

More than half of the year 2018 has passed, Indonesia’s Central Bank didn't ban. The report was issued by Agus Martowardojo: the governor of the central bank (Bank Indonesia). The officials are planning and drawing up regulation to enact the ban on all form of Bitcoin and cryptocurrency dealings.

[satana_igor666]

As far as I remember, a lot of people in this country have invested in bitcoin.  For a long time this prohibition can not last.

[raking]

I think the banks as well as the government are not ready to accept Bitcoin as a real currency. Because of the properties it brings, it is difficult to control it. In addition, illegal activities will take place more and more. So they are planning to ban it completely on their territory

[itsik78]

There is no positive news. Official requests for closure from the bank have not yet been received, the statement of the central bank's chairman Agus Martovodoho against bitcoin and those who use it, can be regarded as a signal.
Because of the central bank's actions, payment bitcoins-platforms, such as BitBayar and TokoBitcoin, were badly affected. BitBayar issued a statement on the termination of its activities from November 1, and TokoBitcoin decided to completely refuse to accept bitcoins as payment.

[Sasha Grey]

More and more countries are planning to be banned from bitcoin, and this is what makes bitcoin prices difficult to rise, but I am sure that bitcoin will continue to shine even if all countries in the world are banned.

[BitRentXx]

old news, I keep abreast of this in the media.
the last statement of the Indonesian finance minister Sri Mulyani, he said, bitcoin was banned as a means of payment because Indonesia had a legal payment instrument, namely the rupiah. but the government only interesting on people, if bitcoin is an investment that is very risky. that is it.

[chosenboy4]

You i came back to this new thread just to tell people that news are just to brain wash you and rewrite your brain with the decisions of news reporting agency. always listen your heart