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Bitcoin Currency Not Recognized in Indonesia

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Bank Indonesia (BI) confirms bitcoin virtual currency and other booming middle of last year is not a currency or legal tender in Indonesia.

The assertion was made BI refers Act ( Act) No. 7 of 2011 on Currency and Act No. 23 of 1999 which has been amended several times and the latest by Law No. 6 of 2009 .

" People are encouraged to carefully for the virtual currency Bitcoin and others , " said Director of the Department of Communication BI , Peter Jacobs in a statement on Thursday ( 02/06/2014 ) .

According to Peter , all the associated risks of ownership or use of Bitcoin borne by the owner . users .

Previously , CEO of Bitcoin Indonesia , Oscar Darmawan , explaining bitcoin like digital gold offers two options, namely as an investment tool and payment . However , it is not correct to say bitcoin as a means of payment . That's because people can not accept bitcoin as payment and unstable .

He explained that the tendency bitcoin exchange rate strengthened by more than down . That's because the number of bitcoin is limited . Total circulation in a global , bitcoin is only 12.2 million . When you look at Bitcoin exchange in Indonesia , bit coin buying rate and the selling rate reached 10.6821 million 9.571 million .

"It happened over supply , prices tend to fall , but not higher, " said Oscar , when contacted Liputan6.com . ( Shd )

SOURCE : Liputan6

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