• The Forex, Binary Options Forum - welcomes you to our Community!

    DigitalCashPalace Forum is dedicated to discussions about Forex, Binary Options, commodities, stocks related.

    Please take a look around, and feel free to .

Indonesia have banned bitcoin as the payment system.

To me, I feel that this topic is not contradictory,so many country will not accept Bitcoin as currency,even my country does not accept it but it is accepted as E-currency. People in Indonesia do make use of Bitcoin to invest in HYIPs,so it is also accepted as E-currency in Indonesia.
 
It is accepted dude, but not as the cash of payment. Cash of payment still is Rupiah while Bitcoin still treated as commodity, you still can change it with rupiah or the other things that you really want.
That means that it is not much a problem in that case, as it can still be used online to buy or to sell one thing or the other.
Bitcoin is at 224.8 USD not pleasing.
 
That means that it is not much a problem in that case, as it can still be used online to buy or to sell one thing or the other.
Bitcoin is at 224.8 USD not pleasing.
That is right, even some people want to do bitcoin directly as the payment even government does not allow it, but the risk of doing that you won't get support especially if one company does not pay or going to be scam, it is like a high risk thingy in indonesia to use BTC.
 
Obviously none a Scam is not much questioned online.
Government knows why they left it like that, i also hear of China it is restricted over there
 
Obviously none a Scam is not much questioned online.
Government knows why they left it like that, i also hear of China it is restricted over there
China do that for the sake of their currency and also i think so for many countries that does not allow something like that into their country, actually each country defenition for what is money has slightly difference so that is why it turn out to be like this.
 
Yeah, and that is why different Countries uses different currencies, I guess they must have known the weight of their currency and known or checked if Bitcoin will depreciate it or appreciate it and try to work towards it in time, with no delay because of their Economy.
Anyway, it was like that because Bitcoin is another Currency and not a payment processor like Paypal.
 
Yeah, and that is why different Countries uses different currencies, I guess they must have known the weight of their currency and known or checked if Bitcoin will depreciate it or appreciate it and try to work towards it in time, with no delay because of their Economy.
Anyway, it was like that because Bitcoin is another Currency and not a payment processor like Paypal.
Well that is true but only country that want to lose their main currency to this popular bitcoin. BTC in the other hand also one of those different cryptocurrency such as litecoin or dogecoin. So this is just the other crypto which make some people think twice.
 
All those litecoin and others looks like a waist of time although it is used by many people but the main cyptocurrency: Bitcoin is deppreciating. I red on Forbes about the down fall of Bitcoin. Rather it might depreciate but rarely to be closed as it has influenced some Markets, although indonesia Banned it.
 
Because its liquidity is getting higher than before, also i think it is the why that BTC getting stabilized and not as fluctuative as we are using it for them first time, people are using it not because of it is fluctuative or not so they get profit from it but rather because no any government control it.
 
No Gov. Controls it but if I can not sell the fund at good rate like when it was at three to four hundred and something Dollars, that's why Some people now has stopped going for free Satochi. Now it is somehow improving up to 280
 
But it should be at around that way and what i said about decentralized feature it has which become their main advantage, but if you read in wikipedia that as time goes on the block will be halved more and more, which means that in future only someone who has big resource that could earn money through mining.
 
That means you hire someone's hardware just like buying a hosting site. That is risky we don't know what will happen later, before you only need not so fast computer to make profit by mining and since the amount of BTC is keep increasing for sure there will be some kind of limit to lowering the speed so inflation does not destroy BTC, this is why indonesia does not accept it as currency but as commodity yes.
 
This is why you should be careful and also i think this is one of the reason why Indonesia in this case my current government does not accept Bitcoin as currency but just as commodity, if there is counter measurement against this one i think that maybe indonesia accept it.
 
This made this processor to reduce its valuable quality as a payment processor, though they are ranking higher daily. But I keep wondering how this happened, to deactivate or block clients acct or money just because of server been overloaded. Bitcoin Scammed me...in another word. Anyway, Indonesia had foresaw its future to Ban it as a currency.
That is a very Bad Reputation indeed and I don't think if Bitcoin are considering a future refund to the affected clients, when their Server is working normal. Then it is Scam behaviours because of total lost of hard earn Money without Refund. Beware of Bitcoin!!!
 
I've seen in some changer, why bitcoin is so expensive epayment??
I prefer using Okpay for making deposit in Liteforex broker.
 
@karunafx: Because Bitcoin has lower total money and people valued it so much. Many people speculate about it and trying to make money from it thus raising the price to the higher place, and not to mention it is not easy to mine bitcoin which become the main way to earn Bitcoin.
 
I'm used to paying in restaurants and cafes with bitcoins in San Francisco. Does Indonesia allows paying by any alternative currency?
 
Top