The development of Bitcoin or computerized currency has not been long, only since 2009. However, as a worldwide crypto payment and payment system, it has gained worldwide interest. This year Bitcoin prices have increased more than 15-fold until December 8th.
As of February 2015, more than 100 thousand merchants and merchants received Bitcoin as a method of payment. This can be redeemed for currency, products, and other services. He can also be an investment. The add-on capitalization of the cryptographic market to 443 billion US dollars. Bitcoin generated 298 billion US dollars. In addition, the daily value of the Bitcoin spot market is around 2.1 billion US dollars on December 8, 2017.
Now, Bitcoin has become one of the means of investment. Compared to other investment products, Bitcoin pretty much give more value. Moreover, the growth of Bitcoin's value throughout the year is fantastic, more than 600 percent. With these developments, the market capitalization of Bitcoin penetrated 115.3 billion US dollars or equivalent to 1.56 trillion rupiah.
The development of Bitcoin can not be separated from the number of plans of several parties, among them will be the Bitcoin futures exchanges. Reportedly, this application-based exchange is only awaiting permission from the controller. In addition, transaction settlement for Bitcoin futures contracts will be made in cash (money settled) with reference to CME CF Bitcoin Reference Rate (BRR) which was launched in November 2016 ago.
That is, the emergence of advanced currency support regulations in various countries became a catalyst for Bitcoin price increase. Earlier this year, the Japanese government issued a regulation allowing dealers to accept payments with Bitcoin.
Even so, the existence of Bitcoin should not be considered great. Because, some parties have warned that Bitcoin is a mere intention that would harm the owner of the funds. The governments of Russia, China, South Korea and Singapore have firmly banned the operation of the advanced money market in the country.
Similarly, Bank Indonesia (BI) has issued a ban for licensed payment system providers to process transactions with advanced currencies. Therefore, the rupiah is the only legal means of payment in Indonesia.
BI asks the public not to regret the use of Bitcoin in the event of undesirable risks. This means, the risk of something not to be taken lightly and then regretted if there are people who want to know more about Bitcoin.
BI actually has a BI Regulation (PBI) No 19/12 / PBI / 2017 on the Implementation of Financial Technology dated November 29, 2017. In this rule, BI prohibits money related technological actors using Bitcoin. In fact, in the near future BI will also issue a PBI that prohibits using Bitcoin in 2018.
BI is concerned and is still looking at the risks of using Bitcoin. This is because BI is sniffing the potential for Bitcoin misappropriation for unlawful acts such as terrorism, money laundering, prostitution, and drug trafficking.
We hope, the monetary authority firmly against advanced Bitcoin money. Because, in perkembangnya there are parties trying to align Bitcoin with gold or other commodities.
Again, the oversight of the companies that manage Bitcoin must be rigorous. This means that not only does BI have to act, but agencies like the Financial Services Authority (OJK) and the Ministry of Trade must also be able to sniff out the bad faith of Bitcoin. The Ministry of Communications and Information Technology should also proactively block sites offering and managing Bitcoin.
