Indonesia bans Bitcoin

[fuding12]

Well, it has been a long time .. Bank Indonesia (BI) prohibits Bitcoin as a means of payment. And the news is heavily in various local media. BI's decision is based on various factors. one of which is coming from the understanding that rupiah is the only legal means of payment in Indonesia. But I think, the Indonesian government through its central bank has a shallow understanding of bitcoin. Because, in fact, if Indonesia legalizes Bitcoin as a means of payment, Bitcoin will automatically involve the Indonesian currency.

[lani123lani]

Indonesia does not ban bitcoin users, Indonesia only prohibits transactions with bitcoin

[Xw73]

Speaking about bitcoin the most popular cryptocurrency today, and the latest technology to face a ban in Indonesia. However Indonesia central bankers warned that it posed a threat to the stability of the national currency and their economy. Despite this incident bitcoin remained popular in other countries.

[Ahmat faisol]

I think the government is too worried about the fluctuations that occur in Bitcoin.
It becomes a big problem if all people use it.
One thing they worry about the users will lose money or financial management becomes unstable.
The government still defend the law as the financial reference of Indonesia is rupiah instead of digital coin we know if we do not exchange goods with bitcoin but we trade coin and altcoin.
My hope the government can retype their ban, because here can be called the money fields of users.
if a favorable thing is always banned it must wait when our country will progress.

[Tukang Becak]

Based on the latest information right now there is good news that the president of Indonesia wants to make a study about blockchain, he said that the progress of time can not be unstoppable including the presence of bitcoin.

[sukoyomi]

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

it is true, Indonesia forbids bitcoin to transact, and nothing more. but although Indonesia forbids bitcoin, bitcoin will never die. because at this time very many other countries that prohibit bitcoin, but in fact bitcoin still progressing.

[stephylarde]

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

A warning has been issued by The Central Bank of Indonesia to investors not to sell, buy or trade any cryptocurrency because of “bubble risks" and susceptibility to be used for "money laundering and terrorist financing”.

[Veterock]

Indonesia hasn't large crypto market and their ban can't affect on cryptomarket, so it's not important news.

[Glorious04]

The government is just so closed minded and selfish. They think they are protecting their people by forbidding them to use bitcoin in all transactions and from holding, but they are not really protectng them. If they are really after the welfare of their people they will give them a chance to just be free in cryptocurrency, after all they cannot really support their people and take them out from poverty. If they dont have food to eat i doubt the government will make the effort to feed them and give them food to eat.

[cpoer2011]

I think the point from the article is Bank Indonesia prohibit the use of bitcoin as a payment method in Indonesia. It doesn't say that we can not trading it on cryptocurrencies market. So Indonesia not ban bitcoin and in Indonesia we only use fiat money IDR Rupiah. But, I think it will chance it's only a matter of time because I heard that Bank Indonesia is reviewing to make Digital Currency for our own it called Digital Rupiah. So, we will see for the next updates from the Indonesia Government.

this are the link for the references :

https://www.regulationasia.com/bank-indonesia-trial-digital-rupiah-2018/

http://jakartaglobe.id/bankingfinance/central-bank-mulls-possibility-issuing-digital-rupiah/

https://www.finews.asia/finance/26385-bitcoin-ban-indonesia-digital-rupiah

http://ekonomi.kompas.com/read/2018/01/29/120800126/bank-indonesia-buka-kemungkinan-adanya-rupiah-digital

I hope it will clear enough about the rumor about bitcoin banned.

thanks

[mayax]

Indonesia hasn't large crypto market and their ban can't affect on cryptomarket, so it's not important news.

who has a "big" market for digital currencies?

[udidrone]

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

A warning has been issued by The Central Bank of Indonesia to investors not to sell, buy or trade any cryptocurrency because of “bubble risks" and susceptibility to be used for "money laundering and terrorist financing”.

too  bad the government only look for bad thing that can bitcoin do. but they don't know about technology, the benefit for using it,etc. now we must blame government who only want to protect their people or who use it for bad things?

[Abete]

this is like an artificial issue, regardless of what strategy the Indonesian government and financial institutions are thinking about there. but until then bitcoin still bus in have in that country.

[untugede]

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

A warning has been issued by The Central Bank of Indonesia to investors not to sell, buy or trade any cryptocurrency because of “bubble risks" and susceptibility to be used for "money laundering and terrorist financing”.

too  bad the government only look for bad thing that can bitcoin do. but they don't know about technology, the benefit for using it,etc. now we must blame government who only want to protect their people or who use it for bad things?

yes, in Indonesia we are not prohibited to own or collect some bitcoin, indeed in Indonesia if suppose we use bitcoin transactions that reportedly not allowed, maybe every country has its own reasons for the rules given to its people, including in Indonesia and other countries that are not allowed transactions using bitcoin.

[LegendX]

It's bad that this kind of things happen around the world with bitcoin. In my opinion nothing will stop bitcoin from its growing

[bahula33]

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=

Indonesia as far as I know does not prohibit bitcoin, which I know Indonesia prohibits transactions through bitcoin,

[nightxglow]

I have read the news before, and it's not they banned bitcoin thorougly, i mean we can't access, or have bitcoin again. But they only banned the transaction using bitcoin, because they only approve rupiah as a payment.
It's still a good thing though, although it's just a hope to spend our bitcoin because there will be no way, no where to spend our bitcoin knowing the government already make the regulation.
At least we still can invest in bitcoin and make profits from it.

[huctalk]

maybe this is why all chat rooms are quiet now

[thaitea.deluxe]

Yes indeed they banned bitcoin, but for payment tools.
they do not banned bitcoin as a trading or investment tools.
So, it is not fully banned there.

[Bessta]

The bankers and other financial intermediaries in Indonesia surely are very happy with the banning of bitcoins and sad for the INDONESIANS who were denied to experience the beauty of decentralized payment. But I think Indonesian government would realize in the future the many benefits that bitcoin provides to the people. This can be a classic case of banks protectionism. Indonesian were not given an option where to transact their money faster and cheaper.