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Author Topic: Indonesian Banks, Bitcoin Is Not A Valid Means Of Payment In Indonesia.  (Read 168 times)
totol05
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March 22, 2018, 01:36:07 AM
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although Indonesian banks have not yet acknowledged bitcoin and still prohibit users that bitcoin is not a valid means of payment in Indonesia, it will not stop bitcoin users in Indonesia. because already too many bitcoin users even looking for income through bitcoin. how opinion exists
 
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March 22, 2018, 02:06:47 AM
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it is true what you have said, I am an Indonesian. I see that dominating in this bitcoin mostly from indonesian people, they are looking for income here. but our government has not implemented or allowed bitcoin as a transaction tool. I do not think that would be a problem for these bitcoin users. and if later the government allows this bitcoin and legalize it. I think that there will be a huge tax return. because they see bitcoin more and more in demand by indonesian people.

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March 22, 2018, 02:11:35 AM
 #3

not just banks in Indonesia but around the world.
the more strict the prohibition against crypto the more curious about it.
and Indonesian government banks also have no final certainty for the ban cryptocurrency.
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March 22, 2018, 03:04:47 AM
 #4

My opinion about bitcoin is the prospect of bitcoin fore very good and promising.
let alone can be done by all circles and can improve the economy of society, especially the people of Indonesia.
and my hope in the future Indonesia can receive digital money like bitcoin.
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March 22, 2018, 03:14:28 AM
 #5

although Indonesian banks have not yet acknowledged bitcoin and still prohibit users that bitcoin is not a valid means of payment in Indonesia, it will not stop bitcoin users in Indonesia. because already too many bitcoin users even looking for income through bitcoin. how opinion exists
 

Even in India also government put some restrictions in Feb on cryptos trading. But none of the exchanges has stopped crypto trading instead I heard that they are adding more and more coins for trading. Governments are worried about tax and people may miss use it so as long as there is a system for them to track all the transactions going to exchanges then they will not worried much. I believe slowly over the time all governments will regulate these cryptos but it may take some time.
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March 22, 2018, 04:08:13 AM
 #6

at this day and age when a lot of big countries are adopting bitcoin and are considering it as a legal way of payment, if some random country decides to do something else in the opposite direction that would be like shooting themselves in the foot!
and that is what Indonesia is doing, they are preventing their advancement and falling behind in the wold of technology and cryptocurrency adoption. and that would just make things harder for their people, they won't stop using bitcoin anyways.

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March 23, 2018, 06:51:05 PM
 #7

banks dont bitcoin and bitcoin doesnt need banks.. thats the whole point of bitcoin

let the banks just hold and transfer fiat between people that want fiat.
its like asking why dont american banks allow euro to be withdrawn from american ATMS.

because american banks by laws and policies only handle dollars. this does not mean euros are illegal in america, it just means that you need to go to a bureau de change to get euros.

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March 23, 2018, 07:04:57 PM
 #8

although Indonesian banks have not yet acknowledged bitcoin and still prohibit users that bitcoin is not a valid means of payment in Indonesia, it will not stop bitcoin users in Indonesia. because already too many bitcoin users even looking for income through bitcoin. how opinion exists
 

I believe this is not something new. The central bank of Indonesia said the same thing during last year's bitcoin surge. I am seriously not surprised by this statement and expecting more banks to issue such statement in future as well. Bitcoin is directly affecting the busines of banks hence no surprise that they will try to discourage people from using it. At least they are not playing double faced game as USA.

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March 23, 2018, 07:09:15 PM
 #9

still prohibits bitcoin, because it can be considered dangerous to the local bank Indonesia
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March 23, 2018, 07:10:15 PM
 #10

although Indonesian banks have not yet acknowledged bitcoin and still prohibit users that bitcoin is not a valid means of payment in Indonesia, it will not stop bitcoin users in Indonesia. because already too many bitcoin users even looking for income through bitcoin. how opinion exists
 

the indonesian bankster cartel only wants to print money and enrichthemselves privatly they naturally hate cryptocurrencies.

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March 23, 2018, 07:29:23 PM
 #11

They wouldn't be changing their stance against cryptocurrencies anytime sooner, as it seems that the Indonesian government are somewhat keen on preventing money laundering and illegal trades happening in their soil with bitcoin as the medium. But the way I see it, the number of bitcoin users in Indonesia is growing day by day, as attested by their local board in here and circulating news from the web. Also, we need to understand that there are differences between each statements of the government. In this case, they simply just don't recognize the crypto as a form of legal payment, but that doesn't mean they would ban it or it is illegal to use it, so there's still a possibility that the Indonesian government would reconsider their stance.

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March 23, 2018, 07:43:04 PM
 #12

Bitcoin cannot be used as a means of payment in the country of Indonesia because the country has a special regulation related currency that is legal to use as a means of transactions society. However, the Indonesian government does not forbid its citizens to have bitcoin because its government also recognizes that bitcoin is a digital asset that phenomenon in the present day but its government advises people not to use bitcoin because it is very risky and the government will not be responsible for what happens to bitcoin to its users.

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sotoshihero
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March 23, 2018, 07:45:27 PM
 #13

although Indonesian banks have not yet acknowledged bitcoin and still prohibit users that bitcoin is not a valid means of payment in Indonesia, it will not stop bitcoin users in Indonesia. because already too many bitcoin users even looking for income through bitcoin. how opinion exists
 

I believe this is not something new. The central bank of Indonesia said the same thing during last year's bitcoin surge. I am seriously not surprised by this statement and expecting more banks to issue such statement in future as well. Bitcoin is directly affecting the busines of banks hence no surprise that they will try to discourage people from using it. At least they are not playing double faced game as USA.

Does it mean, it is illegal in Indonesia? I know we have many Indonesian friends amd very active in crypto too.Since it is not a valid mode of payment, no regulation to  be made as of the miment,isn't it?

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March 23, 2018, 07:47:12 PM
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It seems that mainly Asian countries have some issues without cryptocurrencies, especialy bitcoin. But I don't think they have something against cryptocurrencies in general, but they don't want to introduce them in their economy. Think they are too unstable and that could make damage to them.
Still I don't think this will influence bitcoin in negative way, Indonesia is not that important. And the good thing is that citizens are still allowed to use cryptocurrencies and that is all that matter actualy.

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March 23, 2018, 07:50:17 PM
 #15

The head of the Central Bank of Indonesia, threatens with actions against bitcoin supporters, if the crypto currency will be used as a method of payment.

In early 2014, the country's central bank issued a public notice stating that citizens should be careful with the use of virtual currencies. "The Bank of Indonesia states that bitcoin and other virtual currency are not valid currency or payment instruments in Indonesia," the bank's statement said at the time.

Head of the Bank of Indonesia Agus Martovardoggio confirmed the position of the financial regulator that bitcoin is not a legal method of payment in the country.
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March 23, 2018, 07:52:00 PM
 #16

banks dont bitcoin and bitcoin doesnt need banks.. thats the whole point of bitcoin

let the banks just hold and transfer fiat between people that want fiat.
its like asking why dont american banks allow euro to be withdrawn from american ATMS.

because american banks by laws and policies only handle dollars. this does not mean euros are illegal in america, it just means that you need to go to a bureau de change to get euros.
And that is a sovereignty in the prevailing financial system in a country. That is not a problem, as long as the ownership of the cryptocurrency assets is not prohibited, and as good citizens must also obey the rules by not making the payment process using cryptocurrency, especially in Indonesia only allowed to use rupiah.

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March 23, 2018, 07:56:45 PM
 #17

although Indonesian banks have not yet acknowledged bitcoin and still prohibit users that bitcoin is not a valid means of payment in Indonesia, it will not stop bitcoin users in Indonesia. because already too many bitcoin users even looking for income through bitcoin. how opinion exists
 


Not only Indonesia, this is the situation globally bro. We should not worry about that at all bro. You need to find the bitcoin has been implemented all the world countries with in 10 years for sure bro. There are very few world corporates only against the crypto currency emerging.
So we need to worry about this at all. I have few friends from Indonesia. Still they does not have any issue on exchanging cryptos into fiat cash buddy.
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March 23, 2018, 10:25:51 PM
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now many developing countries do not admit the legal status of the bitcoin, they believe that investment in bitcoin will cause a market bubble, once the bubble blown up, it will destroy a lot of investors, and most of investors are not much rich. once they loss their money which carrys their dreams and hope. But this misconception will be cleared very soon.
In addition, most governments are worried about the misuse of bitcoin as a crime tool, for example for terrorist financing, drug trafficking, illegal weapons, etc. And they do not have full control to prevent that.

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March 23, 2018, 11:06:21 PM
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now many developing countries do not admit the legal status of the bitcoin, they believe that investment in bitcoin will cause a market bubble, once the bubble blown up, it will destroy a lot of investors, and most of investors are not much rich. once they loss their money which carrys their dreams and hope. But this misconception will be cleared very soon.
In addition, most governments are worried about the misuse of bitcoin as a crime tool, for example for terrorist financing, drug trafficking, illegal weapons, etc. And they do not have full control to prevent that.
That's not the only problem, they're afraid that Bitcoin will do the bank's job also, so goverments have a chance to lose banks then they have no control on the economy of that country because they absolutely can't control Bitcoin at all.
Banning them is just a temporary solution for them and i do think they're planning to wipe Bitcoin out.
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March 23, 2018, 11:19:58 PM
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Yes I think some people now rely on bitcoin to become the source of living, the unemployment rate in Indonesia is quite high so btc could help some family to survive, for now btc still not yet being accepted but in the future I think it can be adopted, the President of Indonesia had spoken that the country need to prepare of btc implementation because in the future there will be more crypto currencies usage
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