Boom, Bust, Boom: Buying Bitcoin on Bali
TIPS AND HOT WARNINGS from the highly volatile alternative galaxy of cryptocurrency.
Buying and Trading Cryptocurrency in Indonesia
Is Bitcoin legal in Indonesia?
In a word, yes. It's legal to buy and trade cryptocurrencies on an online exchange – Indonesia has its very own Indodax, formerly Bitcoin.co.id – but it's illegal in Indonesia to ask for or accept payments in anything but Indonesian rupiah, so you won't be paying for a smoothie or your hotel bill with Ripple or Dash while you're here.
Can I buy Bitcoin in Bali?
Yes. Grab your passport and cash, go down to your local Bali Bitcoin office – in Denpasar or Ubud – and sign up with Indodax. The staff will take your details and take your photograph for their records, and you're good to go.
Just don't spend it all at once...
... And the current price of Bitcoin in Indonesian Rupiah (IDR)
Essential Crypto Trading Tools
If you're trading in rupiah on the Indonesian cryptocurrency exchange – www.indodax.co.id – you're going to want to keep a close eye on the BTC/USD pair at the same time. While there's a live ticker at Indodax giving Bitcoin's price over a number of popular exchanges, that doesn't cut it.
Bitcoin/USD interactive chart at Tradingview.com.
Go to TradingView.com, click on Bitcoin / US Dollar, and then Interactive Chart. Just sign up for free. The nice thing is that you can add trend lines or lines of resistance and they stay on your chart in between sessions – unlike the trading tools at Indodax.
For expert takes on the crypto world, head over to chart ideas.
The Chart Guys: Cryptocurrency Push-Notification Alert System
If you're planning on investing a large amount of money, or need a distinctly sharper edge to your scalping knife, you can always sign up to The Chart Guys' Cryptocurrency Alert System over at https://crypto.chartguys.com/.
The Chart Guys' cryptocurrency price alert push-notification service.
It's not free. The basic version sends you push-notifications via Telegram and/or e-mail alerts on RSIs, MACDs and IBs for $19.99/month — or you can go pro with the premium service for $34.99/month and also get volume climax alerts, price shear alerts, abnormal volume alerts and psychological level alerts.
(If you don't know your Golden Cross from your Death Cross, or an RSI from a MACD, Dan and Co. have got these price indicators covered in a series of succinct, easy-to-digest videos.)
It's like having a little parrot that's fluent in crypto sit on your shoulder and peck your ear every time the price looks as if it's going to do something significant. A useful animal.
Technical Analysis Tools and Tutorials
How to Use Fibonacci Retracements in Tradingview
Courtesy of TRADEPRO Academy.
Visualising the Crypto Market with Coin360
A handy visualisation of the cryptocurrency market's coins at Coin360.io.
The crypto world can be cruel. Coin360's bloody visualisation of the cryptocurrency market from January to March 2018.
And unless you're a maths genius, you'll also need a percentage calculator.
Percentage calculator by Jari Jokinen.
The Cryptocurrency Numbers Game: Up, Down, Sideways... Repeat
The Chart Guys
When you're entering as dangerous a space as the cryptocurrency market, it pays to have some reliable friends on your side.
The Chart Guys aren't just your dingo crypto pyjamas on a day out – they're a solid crew who have years of experience on the stock exchange, and also make a speciality of the crypto world. Their calls are spot on – look at what has happened in the crypto space in recent months and review what they predicted before the event – and you'll get an idea that they are definitely in this for the long ride.
The Chart Guys on YouTube.
Kristof's OK. A realist without bullshit.
He's also got a clear call on the current state of the Tin Dollar:
'... and you gotta remember, at least 10 trillion dollars of the traditional [stock] market is funny money, it's fake money. Remember we had 10 years of quantitative easing in the United States where you just printed more money that's not backed by anything.
Ten trillion dollars of our stock market is funny money, it's bullshit money, and it's a 24 trillion dollar market. So imagine if that collapses. It could quickly lose 10 trillion dollars, and that's gonna suck... It's not cool. There's gotta be a sense of awareness...'
If that isn't a call-out, I don't know what is. And you thought Bitcoin was a fragile little flower? Laugh on.
Mr. Kristof on Nixon's Fake Money Enterprise... and the potential of Stellar Lumens (XML) in 2018.
The Nixon Shock – and thanks for the fish, you bastards
The story of 'Tricky Dicky' Nixon's divorce of the US dollar from gold in 1971. Got to go get me one of them MAGA hats.
Carter's cool – he's his own man, and human with it. I like his take on the scene. Subscribe at YouTube, and give him a run.
Coinmastery on YouTube.
A thoroughly realistic, no-nonsense wild child with a hot little finger on the crypto pulse.
Crypto Kirby on YouTube.
And a handful of cool others on the wire...
Cryptocurrency News for Breakfast
Cryptocurrency and Bitcoin news at CoinDesk.
Bitcoin and crypto news at CoinTelegraph.
Treat yourself to a little luxury while you're in Ubud. Clean, quiet and spacious apartment conveniently situated in Ubud, Bali. Book direct through Booking.com.
Your Thoughts, Your Comments?
Please feel free to post as Guest.
Ubud Life ~ The Bali Blog
NEWS, VIEWS AND MUSINGS from Ubud ~ The Apple of Bali's eye.
Top Posts This Week
Tips and hot warnings from the highly volatile alternative galaxy of cryptocurrency... ➨
The latest news and updates on the on-going eruption of Mount Agung volcano in Bali, Indonesia. ➨
Top Five Bali Blog Posts
Top Articles This Week at Ubud High
The Big Picture
PHOTOGRAPHS FROM BALI – The Soul of Indonesia.
The Big Read ~ Bali
FEATURES AND STORIES from Indonesia's soul – the Island of the Gods.
RABIDLY ISOLATIONIST for more than a thousand years, Trunyan Village is best known for its open-air cemetery where corpses are left to decompose under a mystical banyan tree.
But as Ubud High discovers, Trunyan offers a lot more than just skulls and surly guides... ➨
BOOBS AND POLITICAL CENSORSHIP have never been far from the Silver Screen. In Indonesia, they're its bedrock.
IMAGINE A SCHOOL OF FISH swimming together. Go with it.
Anyone outside that flow is the one who's going to cause a road accident. Stick to an imaginary lane – and drive defensively.
Keep an eye on who's undertaking or overtaking you, and don't make any sudden moves unless you're about to hit something.
WE ALL HAVE TO PAY for our little slice of Bali Paradise.
And this often comes in the shape of our stinging, biting, crawling, flying cousins. It's the downside of environment-sharing.
Find out what to do when you come up against a scorpion, a jumping spider, an angry Balinese hornet or an unstoppable army of hungry marching ants... ➨