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Jian_Liux
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October 22, 2018, 03:58:06 PM |
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It is true that bitcoin in Indonesia is illegal. This means that in Indonesia there are no legal rules governing bitcoin, but there is also no government ban on the use of bitcoin. This shows that bitcoin in Indonesia is not protected by the government but not banned, and every bitcoin user is responsible for the bitcoin problems they face, such as theft and so on. If this is the case then it will not have a negative impact on bitcoin and in my opinion it has a positive impact where bitcoin can develop in Indonesia, and now it appears that many Indonesians have bitcoin and do bitcoin transactions in Indonesia.
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Ladysmith
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Activity: 179
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October 22, 2018, 04:04:08 PM |
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Bitcoin's illegality can only be enforced if people perform transactions on exchanges. Governments can shut them down. Once these are no longer necessary governments won't be able to have any power over its use aside from preventing brick-and-mortar shops from accepting bitcoin, places where less and less people make purchases.
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Triwiyono
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October 22, 2018, 04:06:34 PM |
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indeed bitcoin in Indonesia is still illegal, but in my opinion it doesn't matter because the government hasn't banned bitcoin. in Indonesia we can still search for bitcoin, although bitcoin cannot be used like the rupiah. although illegal, there is no influence for crypto investors.
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SoiledDove
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October 22, 2018, 04:12:27 PM |
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Bitcoin in Indonesia is not legal yet, all buying and selling activities must use rupiah. In the past many sellers offered payment with bitcoin, now they can't. the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?
Whether the outcome is good or bad, it cannot last. Many governments in the world are closing the door on crypto currency as they perceive a threat to their banking systems. But the fact is, crypto currency is here to stay. It's only a matter of time before it's adopted on a widespread basis. So my advice to you is to wait and watch. |
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T o x i c a l
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SCARCITYDEFI.ORG
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October 22, 2018, 05:06:43 PM |
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Bitcoin is not yet a legal currency in many countries, but this does not prevent people living in such countries from continuing to use cryptocurrencies. No one can forbid you to have internet at home. And in order to use cryptocurrency, you only need the Internet and nothing else.
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Wodomi
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November 07, 2018, 06:52:23 AM |
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Indonesia is not such a big country to have a serious impact on bitcoin. Therefore, its ban will not have much importance for the crypto-currency world, although this news is still negative.
Indeed, bitcoin in Indonesia is not legal, but it is not prohibited. It can be used as an investment, but all the risk of loss is borne alone because the government considers bitcoin to be too high in fluctuations. Even in Indonesia there is a place to exchange bitcoin for fiat money. |
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shamc
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November 07, 2018, 07:11:31 AM |
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I don't see how they can enforce such a law, there are many street markets in Indonesia and they are unable to collect taxes and monitor what people use for payments.
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emberbekas
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November 07, 2018, 07:50:13 AM |
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Bitcoin in Indonesia is not legal yet, all buying and selling activities must use rupiah. In the past many sellers offered payment with bitcoin, now they can't. the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?
For bitcoin, of course it will have a bad impact because with this rule, it is possible that bitcoin will not develop very rapidly in Indonesia. But for the Indonesian people, it might be the best way for the government to protect its citizens. We should obey the government and trust them with all the rules they made. At least we still can use crypto as an asset. |
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Susan Smith
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November 07, 2018, 06:41:54 PM |
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Not only Indonesia but many countries around the world are taking steps to stop Bitcoin development because the government says that if btcoin develops too strongly they could threaten the viability of money. paper as well as the benefits that the government receives from central banks from borrowing money
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blocklancer8
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November 21, 2018, 02:10:59 AM |
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That's not true in my opinion, because if bitcoin is illegal, of course there will be a lot of convenience that will be given to bitcoin to move freely to the community. The government is still overseeing or monitoring the existence of bitcoins that are currently in demand by the people of Indonesia and this has no effect, bitcoin will still be sought after by many people.
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KKH84
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November 21, 2018, 03:33:56 AM |
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Bitcoin in Indonesia is not legal yet, all buying and selling activities must use rupiah. In the past many sellers offered payment with bitcoin, now they can't. the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?
there will be no impact at all Indonesia is not a country that has a large volume in crypto transactions so i don't think it will affect the price of crypto at this time I agree with you, legal or illegal bitcoin in Indonesia has no impact on the current market conditions, but will have a positive value if payments can be made with Bitcoin because it will indirectly introduce bitcoin to the public who do not know about the existence of crypto currencies . |
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SimonJones
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November 21, 2018, 03:51:14 AM |
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Bitcoin in Indonesia is not legal yet, all buying and selling activities must use rupiah. In the past many sellers offered payment with bitcoin, now they can't. the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?
Is it true? If it is then I must say that many people of Indonesia must be very sad because I know many of them are very interested in crypto currencies and like keeping them up to date with technical advancement. |
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MbakNarti
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November 21, 2018, 04:04:41 AM |
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The currency of the Republic of Indonesia is rupiah, so of course all buying and selling transactions in Indonesia are more applied to the use of the rupiah. I have not seen any legal rules that prohibit the use of bitcoin in Indonesia, and I have also never heard a law that requires the use of bitcoin in Indonesia, this means that in Indonesia every citizen can still buy or sell bitcoin transactions, but the country will not guarantee the rights of every bitcoin user if there is theft or fraud against everyone's bitcoin assets. Of course, the freedom to use bitcoin in Indonesia for me has a positive impact, where bitcoin can develop better in Indonesia and also shows that the state gives freedom to every citizen to invest in bitcoin.
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turkandjaydee
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November 21, 2018, 04:40:41 AM |
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The currency of the Republic of Indonesia is rupiah, so of course all buying and selling transactions in Indonesia are more applied to the use of the rupiah. I have not seen any legal rules that prohibit the use of bitcoin in Indonesia, and I have also never heard a law that requires the use of bitcoin in Indonesia, this means that in Indonesia every citizen can still buy or sell bitcoin transactions, but the country will not guarantee the rights of every bitcoin user if there is theft or fraud against everyone's bitcoin assets. Of course, the freedom to use bitcoin in Indonesia for me has a positive impact, where bitcoin can develop better in Indonesia and also shows that the state gives freedom to every citizen to invest in bitcoin.
The thing is the indonesia goverment just forbid us from using bitcoin as a payment/transaction currency in this country, only IDR is allowed. But you still can sell your bitcoin for IDR and use it. There was a case where there are some people in Bali use Bitcoin to pay travel and hotel service and the government rebuke them. |
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demonz666
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November 21, 2018, 05:00:24 AM |
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which I know the Indonesian government only refuses to use bitcoin for payment instruments. but for investment and bitcoin trading it is still permitted. but if one day the Indonesian government banned crypto trading I thought this would not have a major impact on crypto. because the volume of crypto trading in Indonesia is not large. and also I think Indonesia will not ban crypto trading because Indonesia is a democratic country and there are quite a lot of users of bitcoin in Indonesia. if the crypto trade is banned, surely the bitcoin holders will protest.
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BigBos
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November 21, 2018, 05:26:36 AM |
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Bitcoin in Indonesia is not legal yet, all buying and selling activities must use rupiah. In the past many sellers offered payment with bitcoin, now they can't. the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?
Is it true? If it is then I must say that many people of Indonesia must be very sad because I know many of them are very interested in crypto currencies and like keeping them up to date with technical advancement. according to the news that I know, it is indeed illegal, but also not illegal, because I feel that they only warn crypto users that the risks they will receive, the state is not responsible for that. |
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SaveOurSea
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November 21, 2018, 11:02:34 AM |
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Bitcoin in Indonesia is not legal yet, all buying and selling activities must use rupiah. In the past many sellers offered payment with bitcoin, now they can't. the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?
Is it true? If it is then I must say that many people of Indonesia must be very sad because I know many of them are very interested in crypto currencies and like keeping them up to date with technical advancement. according to the news that I know, it is indeed illegal, but also not illegal, because I feel that they only warn crypto users that the risks they will receive, the state is not responsible for that. yep indeed like that, and what is forbidden is to trade using other bitcoin and coin cryptocurrency, because the regulations in Indonesia are very strict not only cryptocurrency which is prohibited from being used for transactions like other currencies dollars is also not allowed in Indonesia, because regulation in Indonesia only use the country's currency to transact buying and selling in the country of Indonesia. |
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valisa
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November 21, 2018, 01:49:51 PM |
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in my opinion it will not have an impact on bitcoin even though bitcoin users in Indonesia are quite large, but we can still use bitcoin in trade, what we have to do is wait for government policies to change about bitcoin, so we can use bitcoin for payments before government
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cokroalif
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Activity: 434
Merit: 10
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November 21, 2018, 02:13:19 PM |
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Bitcoin in Indonesia is not legal yet, all buying and selling activities must use rupiah. In the past many sellers offered payment with bitcoin, now they can't. the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?
Is it true? If it is then I must say that many people of Indonesia must be very sad because I know many of them are very interested in crypto currencies and like keeping them up to date with technical advancement. absolutely right, the Indonesian government has not agreed to legalize bitcoin as a digital currency, arguing that bitcoin has a changing value with very high risk, but the crypto market is still a way in Indonesia |
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gilangIDR
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Merit: 1001
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November 21, 2018, 02:17:44 PM |
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In Indonesia there has been no official decision regarding crypto circulation so that no one can declare legal or illegal. Indonesian society is waiting for the government's decision, this is because the government will determine how the best regulations might be made to be able to support crypto users and how to make the country's economic system stable.
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