The Concept of Blockchain Will Take Off for Sure

Indonesian BitcoinBitcoin combines the best of both worlds as a commodity and currency. But more importantly, it brings much needed legitimacy and an indication of public’s perception towards Bitcoin. Regardless, it’s great to see Bitcoin use being prominent and increasing around the world. We continue our discussion with Oscar Darmawan of Bitcoin Indonesia. You may read the first part here, the second part here, and his interview in two parts here and here.

On Alternative Cryptocurrency

I am not really a Bitcoin believer but I am a cryptocurrency believer since day one. I believe on the concept of virtual currency that runs based on a pair of public-private keys and the Blockchain technology behind it. The concept of Blockchain will take off for sure either with Bitcoin or other alternate coins. There are always possibilities that one day other altcoin may overtake Bitcoin if the “time”, “power” and “money” are right. It’s a cycle of life—something that goes up can go right back down and vice versa, repeating a never-ending cycle.

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On Gaming Laws and Regulation

Well, I know Bitcoin is a great tool for gambling platforms but our country does not allow any gambling activity within the borders, therefore we also not support any gambling activity with cryptocurrency.

On the Bitcoin Price

Due to its uptrend and the effects of block size halving this year, I would like to choose around $800 as the Bitcoin price prediction for this year. I really believe it will go up in the long run for these upcoming months.

Future Ventures

We are currently trying to focus in penetrating the Indonesian market. This country is really huge in market size therefore we are not thinking about the global market yet. We still need to do a lot of education within this market. I think that by being able to convert more people into the Bitcoin world even if it is only within this country, we can push our company forward and become one of the biggest Bitcoin exchanges in global ranking.

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To be concluded…

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