Indonesia bans Bitcoin

[KingOfWinterfell01]

Just like every cryptocurrency ban for every country, this will be juat temporary. Until the Indonesian government finds a solution to regulate bitcoins and other cryptocurrencies, that's the only time they will lift the ban. I guess, it just goes to show that a lot of governments will do everything just to get theit hands on cryptocurrency without effort.

[reisuke24]

i know from news here, BI (Bank Indonesia) will accept and make alliance with some crypto for next time. i dont know when it will happen, maybe some month or maybe next year. its good and im sure Indonesia will accept bitcoin.
last year, they send out statement about dont use crypto as transaction, and will take step to ban bitcoin in next year. from news, they have regulation about cryptocurrent, and make sure to all people to dont use crypto as transaction. and now, the statement like take opposite side.
so far, we good here. and still use crypto as our income

[w33man]

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 think we just have to respect their decision. They are not entirely against bitcoin, and besides there are also other countries like China and South Korea that banned bitcoin. They must have had a very good reason as to why they did this. Eventually, if they'll find bitcoin really useful, then they would most likely legalize it.

[ciubix2]

They ban something they cannot manage. Actually I think the bitcoin itself is not banned and no government can do this, but only the exchange tradings.

[daduremi]

it's just a statement from bank indonesia (BI)
But today, Indonesia's finance minister sri mulyani made a statement that made me relieved
Bitcoin is prohibited as a transaction tool, as Indonesia has the official currency of RUPIAH, and if any party is proven to use bitcoin as a means of transaction, it will be in Criminal.
But the government does not forbid if the people of Indonesia want to invest with bitcoin, the government just appealed
If bitcoin is very risky, and if something happens to the detriment of investors, the government does not want to know it is the responsibility of the investor itself.
That's the news I read today

[johnniecarlson781]

Actually it will very helpfu if there are support from government to have a safe official or premisis operating. But moral of issue that no existing organisation is needed for bitcoin transaction. Many countries banned bitcoin but not  capable to stop its activity.

[topleskacah]

an official statement announced today by Indonesia's finance minister Sri Mulyani
the government does NOT prohibit the use of bitcoin as an investment tool, but the government will not help if there is a loss among investors, because this is a mutual agreement.
Second, bitcoin is prohibited as a means of buying and selling transactions, because Indonesia has its own currency is RUPIAH
If the violation is proven to be subject to criminal sanctions
according to a statement from the Indonesian government

[AniviaBtc]

Indonesian are conflicting financial and government sectors. Due to the unregulerity and uncontrollable increase of Bitcoin and other cryptocurrencies, it is sure that there are many dangers associated with the new form of money. At the same time, there are many new opportunities waiting to be explored by brave men to exhaust.

[mayax]

https://www.ccn.com/indonesia-undercover-bitcoin-bali/

anyway, BTC is useless as payment method. it's VERY expensive and VERY SLOW.

[BountyX]

This is not a ban of Bitcoin. A ban of Bitcoin would be if thet would close exchanges, and go after people who trade Bitcoin with each others. Indonesia has just said that Bitcoin is not money so it cannot be used to buy goods. Anyway, Bitcoin has stopped to be money the day it has become an asset that people buy as a store of value. So much ado for nothing.

[Sadnu]

My point of view here is that maybe bitcoin ban on their place because they fear they might scam their money. As the western world wakes up to the potential of blockchain technology and more institutions recognize it, the countries of Asia remain skeptical. The Asian trading session is always a good indicator of how the rest of the day is going and today BTC surpassed $14,000 for the first time

[zeze18]

as far as I know Indonesia is prohibiting users to make payment transactions using bitcoin and there is no prohibition to do business using bitcoin, but I think with the regulation is certainly a disadvantage for users to freedom of transactions using bitcoin

[SummonKing2]

So maybe ban the bitcoin in their place maybe they know that bitcoin is just a scam and it's a big mess. Bank Indonesia's new regulation explicitly mentions Bitcoin and the like, saying, "the use of virtual currencies in payment system [and] activities... is prohibited."

[thompson30]

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

I have no idea of that.  I hope its not,  because everyone can own bitcoin.  But you ysed your bitcoin in a good way.  Dont be greedy.

[Zachary1973]

if it happens it will force them to stop interacting also invest with bitcoin
but is not that just a claim from some parties and has not been issued official decisions from the government, I hope bitcoin will still be accepted, even around the world.I think the government sees in terms of losses incurred alone. they do not see from the user side. profits to be gained and employment opportunities for its citizens. government not looking at it sounds too authoritarian. Btw which I fear the worst is close the local exchange that is bitcoin.co.id..

[Kotone]

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


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based from my own research and some articles that I read I think Indonesia is still getting cautious of how bitcoin is progressing and not a total ban but just enough for them to control what goes in and out and to better understand the function of the bitcoin to people and especially to their government and country as well which is much more important to them than anything

[Bdstar]

If this news would be authentic then it must be a frustrating news for this platform. I think day by day Bitcoin is becoming a popular platform for trading and payment system But China and some countries are trying to influence their people to stay away from this platform. But I think they will realize very soon and they will get involved in this platform in the future.

[chipzeru]

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


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According to the source you have given, Indonesian Government only banned Bitcoin and another Cryptocurrencies to be used as a payment method. So far they are not banned bitcoin either as a store value or owning it. This is normal as there are still many countries that banned cryptocurrency as a payment method. I think many countries still not ready with the appearance of cryptocurrencies. Once they realize the benefit of cryptocurrency, i'm quite sure they will start accepting it. Even though they will banned bitcoin either as a payment method or as a store value, it won't stop people from that country from using bitcoin as bitcoin is decentralized and anonymous.

[Hmei777]

if Indonesia forbid bitcoin this is bad news, because some indonesian people are bitcoin users, and maybe Indonesia will experience financial problems. I hope this is a misnomer, because I am afraid if bitcoin is banned in indonesia.

[Hmei777]

If this news would be authentic then it must be a frustrating news for this platform. I think day by day Bitcoin is becoming a popular platform for trading and payment system But China and some countries are trying to influence their people to stay away from this platform. But I think they will realize very soon and they will get involved in this platform in the future.

you are right, if the news is there, surely many people are disappointed, but I have not heard that anyone is disappointed because of the prohibition of bitcoin in Indonesia.