bitcoin banned

[Mohamad Fiqri]

indonesian goverment banned bitcoin, affect the bitcoin price of the world ?

[Gerci]

If we can philosophize a bit, what is it really a digital currency? Because the official definition of the government of the Republic of Indonesia does not exist when this article was created. We take the closest definition according to Law no. 7 Year 2011 Article 1 Paragraph 1 which writes, as quoted "Currency is money issued by the Unitary State of the Republic of Indonesia hereinafter referred to as Rupiah." And if combined with Law no. 23 Year 1999 Article 2 Paragraph 2, as quoted "Rupiah currency is a legal means of payment in the territory of the Republic of Indonesia". Of the two definitions of cryptocurrency is certainly not official because it is not issued by NKRI and not a legal means of payment.So the impact of a bitcoin ban on a country can be said to defend its own currency, in the presence of bitcoin they may fear the price of its currency is not worth anymore.

[jtbcoins]

indonesian goverment banned bitcoin, affect the bitcoin price of the world ?

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If cryptocurrency will work in Russia, China, USA, Japan and Europe, like now - cryptocurrency will never die.

[ABIR HASAN]

I hope Bitcoin will never stop. According to my knowledge, it is high prise. So Everybody loves this bitcoin.

[teejaymuna]

No I don't think Indonesian governments ban of BTC alone will affect the price. Though some major governments are current active players on BTC, more governments will come on board and the BTC will have a more stable value.

[cryptocurrencyguru]

No govt can ban Bitcoin it is connected tocomputers decentralised nt in one control  govt form rules but can't ban completely

[Calumwilson]

We never know if the ban is just temporary until they finalise a law for their citizens. Bitcoin is still useable even online. The rise of bitcoin was quick and being young it hs achieved a lot already.

[biarox]

indonesian goverment banned bitcoin, affect the bitcoin price of the world ?

There's no event that can influence the fluctuation of BTC price in Brazil.

The BTC value in US can drop to 10K, in Brazil the price remains stable. That's why traders buy it in US exchanges for a cheaper price and resell it in Brazil, to profit from the price difference between countries.

[bitbunnny]

I don't think so. Don't get me wrong but Indonesia is not such important player on Bitcoin market so that this ban could influence price significantly.
Also, Bitcoin price has become more resilient to such events and doesn't react so havily anymore. But hope that this ban will be just temporary.

[freakingcat]

is Indonesia so big and has so many internet and bitcoin users in order to have such a big influence over it?

[Taqi Ahmad]

No govt can ban Bitcoin it is connected tocomputers decentralised nt in one control  govt form rules but can't ban completely

I so agree too if the government will ban bitcoin because it's a crypto currency system, moreover some countries still let it to do, such as Russia, China, Japan and Europe. For those countries still use the crypto currency, the middle country like Indonesia that it's still not banned.

[iRakic]

I think it will affect the market. I'm totally sure that the price of BitCoin will be back to its true price, which is higher than it is at the moment.

[freakingcat]

so basically as long as you have internet you're covered, right?

[ahmad21]

indonesian goverment banned bitcoin, affect the bitcoin price of the world ?

Indonesia doesn't really occupies any major share in the world of bitcoin. Rupiah trading with bitcoin isn't a very common scenario. So I highly doubt whether this will affect bitcoin on a global level. But yes its quite astonishing to see ho these small countries keep on banning bitcoin.

[Samueltalk]

indonesian goverment banned bitcoin, affect the bitcoin price of the world ?

With this kind of news the government forbids bitcoin, then the price of bitcoin today is indeed declining dratis. So friends bitcoin players then do not feel disappointed with the existence of firal as done by the government.

[Goldberg007]

According to my knowledge bitcoin will never banned.Indonesia alone can't affect the bitcoin, Indonesia doesn't really occupies any major share in the world of bitcoin.

[Captain_Planet]

If they ban in Indonesia then its their own loss honestly. China banned bitcoin and thr people suffered the losses.

[pushups44]

indonesian goverment banned bitcoin, affect the bitcoin price of the world ?

On the contrary, the banning of bitcoin will only make it more popular globally. From what I can tell according to a Google search, the Indonesian central bank and government have been very hostile to bitcoin and are trying to ban cryptocurrencies. This will have the effect of depressing economic growth in the nation.

[buyinbtc]

indonesian goverment banned bitcoin, affect the bitcoin price of the world ?

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If cryptocurrency will work in Russia, China, USA, Japan and Europe, like now - cryptocurrency will never die.

Indonesia is simply not large enough to affect bitcoin's price somehow. I think if whole Europe banned bitcoin then we would see price's difference, but not now... It is silly that they are banning bitcoins though. Is there any reason why?

[mayax]

indonesian goverment banned bitcoin, affect the bitcoin price of the world ?

\
If cryptocurrency will work in Russia, China, USA, Japan and Europe, like now - cryptocurrency will never die.

Indonesia is simply not large enough to affect bitcoin's price somehow. I think if whole Europe banned bitcoin then we would see price's difference, but not now... It is silly that they are banning bitcoins though. Is there any reason why?

as long as Bitfinex through Tether are pumping fake money into BTC or other e-currencies, you won't see any  price's difference.