Indonesia bans Bitcoin

[budz0425]

They have banned bitcoin to eliminate it from payment system services that use virtual currency as the process as well as they were encouraging the companies not to work with any parties that facilitates with the currency transactions, they were just so afraid that bitcoin will eat and supersede their financial institution system.

[kingkats0803]

Maybe they just won't accept bitcoin for daily transaction for now.
But maybe in the near future they'll consider using it legally.
And maybe, they did not prohibit collection or it is not unlawful to collect bitcoins in their country. However, they ban the use in day to day trade.
Hopefully they will open it for those purposes someday..we'll never know

[daenarys_stormborn]

hallo, indonesian here, my country is not banned bitcoin, what is meant by our government is bitcoin is prohibited to be used for payment transactions, but if in the form of investment still allowed only be own responsibility

[coinSpecter32]

hallo, indonesian here, my country is not banned bitcoin, what is meant by our government is bitcoin is prohibited to be used for payment transactions, but if in the form of investment still allowed only be own responsibility

Nice to hear these kinds of clarifications because it can lessen the spread of FUD's. Actually the government can banned anything not just Bitcoin but they can't actually stop it, people will always make ways to gain access.

[gamechain]

Sooner or later, they will rethink their attitude towards bitcoin. Together with the adoption of the cryptocurrency by other states, everything will change exactly and they will have no choice.

Because Bitcoin transactions are peer-to-peer and cost-free, Bank Indonesia is also concerned that bitcoin will be used to raise money for terrorist activities, money laundering, drug trafficking and more.

[nmax21]

Bitcoin and other crypto-currencies are already forbidden to be banned. Too many rich and powerful people use this money. I think the issue of legalization will soon be resolved in most countries.

[lucas0909]

They have to rethink about Bitcoin and Crypto Currencies as a lot of people involved in making money from Bitcoin. Banning will surely make their livelihood disappointment. but to slightly help the economy of its people, bitcoin may be one option.

[vv181]

I believe any third world countries banning Bitcoin will not affect the price so much, but I believe its really bad for the Bitcoin ecosystem. the uneducated will think Bitcoin is bad because of government banning, while the truth is a really different perspective.

[avikz]

Sooner or later, they will rethink their attitude towards bitcoin. Together with the adoption of the cryptocurrency by other states, everything will change exactly and they will have no choice.

I believe so, but I don't expect bitcoin to be accepted by Indonesia. Instead they will move to the digital payment revolution through their own virtual currency which will be strictly centralized and regulated by the government. We all know that digital payment is the future and sooner or later every country will have to move to this facility. But probably not through bitcoin. A lot of countries are now debating to launch their own crypto currency which will be listed in their own stock market and will be strictly regulated. India is thinking about their own crypto currency called "Lakshmi". I think that's what is going to be case for many other countries.

[romero121]

Recently following Philippines Indonesia seems to show good support to bitcoin through different sectors. From such a support suddenly a ban seems completely an unbelievable fact. As few users mentioned surely the changes made will make them feel bad in the future when more countries progress through bitcoin.

[xugzr272186]

I think indonesia does not banned bitcoin, it's just prohibiting transactions using bitcoin and not forbid to own or collect bitcoin..

Bitcoin can not be banned. Just like China, the characteristics of bitcoin are anonymous, so it is hard to be forbidden. The state can only be restricted or regulated. It can not be completely tense. Indonesia may only limit the transactions of bitcoin. Because he threatened the interests of national banks and finance

[Thecryptocurrency09]

http://www.bi.go.id/id/ruang-media/siaran-pers/Pages/sp_200418.aspx     


https://translate.google.com/translate?sl=id&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.bi.go.id%2Fid%2Fruang-media%2Fsiaran-pers%2FPages%2Fsp_200418.aspx&edit-text=

I do not think it is really banned.Maybe at some points there are just implementations of rules that of course you have to follow but they could still not even take to control others to stop or do something they get use to. But of course, you could not expect that think could still be the same.

[Janation]

I believe any third world countries banning Bitcoin will not affect the price so much, but I believe its really bad for the Bitcoin ecosystem. the uneducated will think Bitcoin is bad because of government banning, while the truth is a really different perspective.

It will not affect so much but it will have an effect later on. Third world countries bitcoin users are not that many since there are only some people there who are exposed to the technology and know such thing as digital currency. I think the people are not misunderstanding the reason why the government are banning digital currencies in their country since they are explaining it to the people why.

http://www.bi.go.id/id/ruang-media/siaran-pers/Pages/sp_200418.aspx     


https://translate.google.com/translate?sl=id&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.bi.go.id%2Fid%2Fruang-media%2Fsiaran-pers%2FPages%2Fsp_200418.aspx&edit-text=

I do not think it is really banned.Maybe at some points there are just implementations of rules that of course you have to follow but they could still not even take to control others to stop or do something they get use to. But of course, you could not expect that think could still be the same.

Yes, I sees it at that way too.

[mi56374100]

I'm sorry if this news really happened.

If the government is wrong, then the people must obey the rules.

I think bitcoin is the trend of the future, not which country can ban it.

[Rrtt]

I think indonesia does not banned bitcoin, it's just prohibiting transactions using bitcoin and not forbid to own or collect bitcoin..

I think you are right mate, Indonesia does not ban bitcoin, it only proposed to ban the cryptocurrency exchange. My understanding is they ban the trading sites.

[hghcoin]

I think Indonesia will regret his decision. Historically, the countries that have witnessed the downturn and the collapse of the national currency have used the Bitcoin as their means of saving themselves: Cyprus, Argentina, Azerbaijan, Kenya, Venezuela and Zimbabwe. This shows that Bitcoin has a regulatory role in the national economy,if the country banned bitcoin, it would be a big loss to the country.

[sicnarfkswiss]

If bitcoins are good then why did they banned it?? What's their point? Is there any further explanation behind this post?

[gigatux]

http://www.bi.go.id/id/ruang-media/siaran-pers/Pages/sp_200418.aspx     


https://translate.google.com/translate?sl=id&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.bi.go.id%2Fid%2Fruang-media%2Fsiaran-pers%2FPages%2Fsp_200418.aspx&edit-text=

Upon reading the news, it shows that they banned all cryptocurrencies transactions. They are afraid that someone will used it for money laundering or funding a terrorism. It also shows that they did not think that cryptocurrencies is where our future is going. But they forgot to tackle the good side of Cryptocurrencies. Indonesian government needs to mellow down to this issue, it is much better that they created a regulation regarding cryptocurrencies than banning it.

[yuyuchain]

This is normal. There are still many countries that do not accept bitcoin now, but the banned countries still have people who participate in bitcoin transactions. Therefore, the bitcoin transaction will not stop even if the country prohibits bitcoin.

[coinSpecter32]

If bitcoins are good then why did they banned it?? What's their point? Is there any further explanation behind this post?

That is a normal recourse of a person/government/society of something "UNKNOWN" to them. The government thinks that Bitcoin is not a legitimate currency because of the fact that this currency is decentralized and not regulated.