Bitcoin introduces a new and open internet value for hard money. Nowadays, with the growing awareness about the superior properties of Bitcoin, it is increasingly being accepted by financial institutions worldwide as initial collateral, long-term reserves and endless money. We believe that Bitcoin was not formed in a vacuum. Like other technologies, Bitcoin was invented to solve problems; In this case, the global economic problem.
Indonesia represents the fourth largest population in the world, with 60% of citizens owning a smartphone. As a country experiencing hyperinflation in the past, it is important for Indonesians to understand what bitcoin means. At the moment most Indonesians see and consider Bitcoin as a rich-fast project. Due to the lack of information and extensive education in Bahasa Indonesia, many have fallen into scandals associated with the words bitcoin, blockchain, “crypto” and mining.
Indonesians willing to invest have also fought mismanagement and corruption. Over the years, we’ve seen cases of fund managers and property developers (like crypto space) who were unable to deliver on their promises and failed to repay their customers. This has happened in both the private and public sectors. News in this field is easily available online in both Indonesian and English. Even some Kovid-1 relief funds in Indonesia were embezzled. For these reasons, Indonesians desperately need savings that not only perform, but are also reliable.
Over the years, Indonesians have preferred gold and savings in property; Now Bitcoin, a good alternative, has dawned. Since Covid-19, all other markets have experienced stagnation. The yield on the latest government bond SR015 is 5.1%. The economy has been in recession since the third quarter of 2020 and is currently struggling to recover. In the meantime, Bitcoin continues to gain, with YTD (October 2021) gaining an estimated 90% as an indicator of its impressive performance.
We believe the majority of Indonesians will jump directly from the gold and property market into digital assets (bypassing bonds and securities). This would be similar to how most Indonesians surpassed the use of PCs and the most accepted Android smartphones. Official data shows that by the end of May 2021, the number of people in digital assets had already reached 6.5 million, much higher than the 5.4 million people in the stock market. The 20-year user growth in the stock market has easily surpassed 1 year of user growth in digital assets.
Indonesia Bitcoin Conference: A Leap for Advanced Education
There are many challenges to adopting Bitcoin as the best savings technology in the country. Bitcoin is not easy to understand and requires a versatile approach. The Indonesia Bitcoin Conference is a way for Indonesians to get accurate information and education about Bitcoin. The conference was attended by speakers from Indonesia and abroad, such as Sefedian Ammas, Robert Bridlov and Danny Taniwan.
With issues such as the future of Bitcoin through crypto exchanges, mining, retirement with Bitcoin, the Lightning Network and the Islamic lens, we hope to change the mindset of Indonesians about Bitcoin.
The Indonesian Bitcoin Conference will take place on October 1, 2021, the same day that Satoshi Nakamoto published his Bitcoin White Paper as the beginning of the financial revolution.
Visit the conference website for ticket information: http://indonesiabitcoinconference.com
This is a guest post from Konsultan BTC. The opinions expressed are entirely their own and BTC, Inc. Bitcoin Magazine.