bitcoin banned

[Aryadwipanggah]

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

I don't know whether they truly banned bitcoin or just regulated the crypto currency exchanges in their country.Nowadays lots of rumors coming around here that countries banning bitcoin but they are just regulating the exchanges so it is better to stop spreading fake news and if the news is true just provide the link of the official announcements.
I know only the Bangladesh recently banned bitcoins totally and if someone caught using bitcoins then there will be a severe punishment for them.But I didn't hear about Indonesian ban yet so wait until the official news.
But this kind of rumors will create down fall in the bitcoin price.

I think this news is in the interest of a group of people in Indonesia, my understanding is more on the rules of using bitcoin as an asset and forbidding bitcoin as a valid payment instrument in Indonesia, but this rumor is very influential the decrease of bitcoin price in Indonesia, especially for new bitcoin users will causing panic and thinking immediately sell all its bitcoin assets

[JTEN18]

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

I don't know whether they truly banned bitcoin or just regulated the crypto currency exchanges in their country.Nowadays lots of rumors coming around here that countries banning bitcoin but they are just regulating the exchanges so it is better to stop spreading fake news and if the news is true just provide the link of the official announcements.
I know only the Bangladesh recently banned bitcoins totally and if someone caught using bitcoins then there will be a severe punishment for them.But I didn't hear about Indonesian ban yet so wait until the official news.
But this kind of rumors will create down fall in the bitcoin price.

I think this news is in the interest of a group of people in Indonesia, my understanding is more on the rules of using bitcoin as an asset and forbidding bitcoin as a valid payment instrument in Indonesia, but this rumor is very influential the decrease of bitcoin price in Indonesia, especially for new bitcoin users will causing panic and thinking immediately sell all its bitcoin assets

Let them banned bitcoin, countries like that were just too greedy they don't want their people to earn at least some portion of money, they were not just thinking of what potential it will give to everyone they were just stating that they are the rules and if they said no so nothing can do about it.

[masphie]

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

If the issue really occur, i think no effect with bitcoin price.
if it happens, it is very small i think....

But, I hope it's just a hoax

[Deepiefface10]

indonesian is a small player and when ban bitcoin will never effect value.
they can ban sites with is less than to be added

[rain3798]

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

I was not surprise that other country would ban the bitcoin because I know that they are very much concern how this bitcoin affects their economy and because of this the price of bitcoin was affected. I am sure that the price of the bitcoin will going to high again because even the Indonesian ban the bitcoin there still more country that bitcoin is allowed.

[sgenuine]

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

There were unbelievable thing that South Korea will ban cryptocurrencies. It was occured that this is just desinformation. I don't want to know about indonesian scenario. Country with 400millions populations banned crypto! Unbeliavable!

[jebusmaster]

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

There were unbelievable thing that South Korea will ban cryptocurrencies. It was occured that this is just desinformation. I don't want to know about indonesian scenario. Country with 400millions populations banned crypto! Unbeliavable!

Actually, Koreans are still not simpy sure how to regulate the cryptocurrencies.
At first, they wanted to ban them, that was true. Not anymore, however, which I am sure lots of people are glad to hear!

[tegarp90]

indonesia has a small market compare then other country such as russia,korea,china,japan. so, it's not really affect that much, and also it's not confirmed news yet

[ucingucingan]

News is very influential on price movements of a commodity, although the news is not necessarily true, but it is very influential on the psychics of market participants to take a decision, if we look back time many similar news that a country will do ban against bitcoin but in fact news it is just that country's strategy to buy bitcoin when it's expensive, and automatically get a lot of bitcoin.

[DannyHamiltom]

Bitcoin is now traded around the world, and if it is banned in Indonesia, it has little impact because the share of transactions in Indonesia's bitcoin market is low.

[jinksters09]

Well as long as the major countries in the world like USA, China, Japan, and others not necessarily go up against bitcoin and try to ban in their country. Then it will go a long just fine because these countries are in terms of the growth of the country in business, stocks, and other income generating are the best among the best.

[Jaya1995]

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.

I agree with this opinion, it's just that I think crypto currency will not have a significant effect because we do not transact directly using the money ... again we convert it into rupiah ... so we keep using our own currency without risking the value of the eye money it self

[markdario112616]

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

To enlighten you up, The Government can ban Bitcoin or any other cryptocurrencies. The Government can block any websites that are related to cryptocurrency or Digital currency and etc. But Government has its limitation, It can't shut the internet down without any legal grounds (Depends if the leader of the Country has declared let say martial law or do social media blackout, including cutting off internet access) there are VPNs or Proxy sites in which one can use to continue it's crypto related activities.


Though it wouldn't affect the industry since Indonesia is a small market plus they can still engage in such activities if they only knew how to use VPNs. The big markets are still up and most likely will just compensate for that loss (not really), The players of the industry this year will most likely increase. Bitcoin already had built a good foundation before 2017 end and this year, there is a higher possibility that Bitcoin could make another history.

[BigTerror87]

The government can do whatever they want but they cannot stop the people from using it. Bitcoin will never be affected by this, as you can see with what happened when China banned the use of bitcoin.

[rickadone]

omg I am really surprised to hear this news. hopefully that does not really happen. I just a few days register in bitcoin. if so, what sanctions we get?

Don’t worry there is nothing to be worried upon. These news have been rumoring in the world since the production of bitcoins and even now when bitcoins are going towards success, the hater are there to just publish such fluffy news. If you are newbie in this world, you need more concentration on the coin and don’t just invite in this kind of notorious stuff that can harm you.

[syamster]

omg I am really surprised to hear this news. hopefully that does not really happen. I just a few days register in bitcoin. if so, what sanctions we get?

There is no chance that someone will ban bitcoin because bitcoin is here to help us and whenever it reached to any country so it bring changes there it reduced unemployment there so bitcoin is very use full for every one and I’m sure that every single country will make bitcoin legal bitcoin is not like other crypto it’s something different and I’m sure that bitcoin can help them a lot as now a days a lot of countries they are enjoying bitcoin.

[Kalatas]

I was also good and agree for the people said about USA, China JAPAN, RUSSIA. If those Country I mean they already have BTC. So I think well accepted the whole world cryptocurrency will be the money that can transact around the world.

[Adeyemi]

The Bitcoin banned news is just a way of bringing down its dollar value so that the bigger players can buy at a dip and dominate the crypto market. This is a good way of creating FUD among noobs. I believe that majority of those governments banning cryptocurrencies especially Bitcoin in their countries are big players in the market. This can be likened to the Big Brother's influence in book 1984 by George Orwell.

[cryptojoe]

I really don't think so.

[kamilah147]

I really don't think so.

if in my country bitcoin is indeed prohibited, but it's all there is no clarity from the government then there are still using bitcoin as income