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Last 15 Transaction


Claim ID User Name Amount Time
1403 Abdul0350 0.00000020 BTC 1h ago
1402 saddan 0.00000010 BTC 1h ago
1401 cffxxdfdf 0.00000010 BTC 2h ago
1400 Krzysztof88 0.00000010 BTC 2h ago
1399 Abdul0350 0.00000010 BTC 3h ago
1398 syahidgunz 0.00000020 BTC 3h ago
1397 syahidgunz 0.00000010 BTC 3h ago
1396 syahidgunz 0.00000020 BTC 4h ago
1395 syahidgunz 0.00000020 BTC 4h ago
1394 syahidgunz 0.00000010 BTC 4h ago
1393 syahidgunz 0.00000010 BTC 4h ago
1392 syahidgunz 0.00000020 BTC 5h ago
1391 syahidgunz 0.00000020 BTC 6h ago
1390 syahidgunz 0.00000020 BTC 6h ago
1389 syahidgunz 0.00000010 BTC 6h ago


684

Registered Users


1,403

Transaction Made


0.00001466 BTC

Total Amount Collected (In BTC)

BITCOIN AS A DIGITAL ASSET IN ELECTRONIC TRANSACTIONS

The use of information technology with the internet in the economy has provided many benefits in various people's lives, both in trade and investment. Currently Bitcoin is not considered a means of payment or crypto currency. Bitcoin is considered a digital asset that has economic value for its users. Based on the decision of the minister of commerce which stipulates bitcoin as a digital asset that is included in crypto assets that can be traded on the Futures Exchange. However, before going further into the realm of futures exchanges, there are no special regulations that discuss digital assets themselves. Regulations regarding electronic transactions only discuss in general about everything related to electronic media. For this reason, this study will analyze the concept of using bitcoin as a digital asset that can be used for electronic transactions and investments. And the absence of a legal umbrella certainly adds to the problem of the unclear accountability of the parties in dealing with the risks that will occur. For this reason, the author will conduct research by linking the concept of Bitcoin as a digital asset with the laws and regulations in Indonesia. Keywords: bitcoin, electronic transactions, digital assets For this reason, the author will conduct research by linking the concept of Bitcoin as a digital asset with the laws and regulations in Indonesia. Keywords: bitcoin, electronic transactions, digital assets For this reason, the author will conduct research by linking the concept of Bitcoin as a digital asset with the laws and regulations in Indonesia. Keywords: bitcoin, electronic transactions, digital assets


One of the results of digital products that can be used in electronic transactions is Bitcoin. Bitcoin was developed by a programmer under the pseudonym Satoshi Nakamoto. Bitcoin does not have a physical form but is only contained in an electronic account in the form of an electronic wallet (e-wallet). Bitcoin is a peer-to-peer and open source digital currency. It is based on Cryptography principles to validate actions and control the production of Bitcoin itself. Bitcoins are not generated or issued by an official institution, they are generated by the software itself and can only be accessed within the bitcoin system itself. Bitcoin is not dependent on real world currency exchange rates, its exchange rate depends on supply and demand in the market. Since being known and developed in Indonesia in 2013, Bank Indonesia as the controller of the monetary system in Indonesia issued an appeal on November 6, 2014, Bank Indonesia gave an official notice stating that Bitcoin cannot be used as a means of payment in Indonesia. This does not affect its users to leave Bitcoin, until now members who are registered on the largest exchange site in Indonesia, namely on the PT. Indodax Nasional Indonesia has reached 1,625,889 users. Until 2017 was the peak of the increase in the price of Bitcoin which reached 200 million per BTC. This has caused the government through Bank Indonesia to reaffirm the same appeal through press release number 20/4/DKom on January 13, 2018.


Other countries that have legalized Bitcoin for use in their country have taken steps to make bitcoin a commodity not a currency, one of them by the State of Japan. In 2016 Japan has passed the Law on Virtual Currency by the Japanese Financial Services Agency, namely the Japan Payment Services Act. The law includes regulations regarding digital currencies and digital currency exchanges. This Act defines Bitcoin and other virtual currencies as a form of payment method, not as a legally recognized currency such as the Yen. Bitcoins are treated as assets unless there are future revisions or changes to the Japanese Tax Laws. This was later adopted by Bitcoin users in Indonesia, currently Bitcion is not considered a currency as the currency used in payment transactions in a country but as a digital asset that has material properties in it. By treating Bitcoin as a digital asset, it is hoped that Bitcoin will get legal protection that is easier to adjust and does not interfere with the existence and stability of a country's currency. Bitcoin as a digital asset can only be used through electronic media. Bitcoin as a digital asset can be used as a means of sending money or remittances and used as a commodity in investing. Bitcoin as a digital asset in its function as a commodity is also related to Bapebpti's decisions considering Bitcoin has been designated as one of the objects that can be traded on the futures exchange based on the Regulation of the Minister of Trade of the Republic of Indonesia Number 99 of 2018 concerning General Policy for the Implementation of Crypto Asset Trading. For this reason, this study will analyze whether the concept of Bitcoin as a digital asset is in accordance with the material elements based on material law and regulations relating to electronic transactions in Indonesia and the legal relationship between Bitcoin users as digital assets in Indonesia.


1. Bitcoin In the Legal Perspective of Objects Material law based on Article 499 BW states that what is called material is every item and every right, which can be controlled by property rights. Broadly speaking, BW divides objects into several groups, one of which is tangible objects and intangible objects, then immovable objects and moving objects. In this case, bitcoin is included in Article 505 BW, namely movable objects due to their nature where goods can move themselves or the goods can be moved. This explanation is in accordance with the nature of Bitcoin where it can be transferred or moved digitally. Bitcoins can be stored in electronic devices and servers and can also be transferred from one wallet to another using electronic networks and the internet, Bitcoins can also be moved from cold storage to a mobile wallet as desired. Article 22 paragraph (2) of PP PSTE explains that in the operation of an Electronic System intended for electronic information and/or transferable electronic documents, electronic information and/or electronic documents must be unique and explain their control and ownership. In the use of Bitcoin, which is based on a virtual wallet address that can only be accessed by Bitcoin owners through a private key, each bitcoin address is a unique code that is different for each address. So that the bitcoin address cannot explain who the owner is because it does not explain the name, address or domicile of the owner, so that ownership is only clear on one side, not openly to others. The definition of intangible objects is almost the same as objects that cannot be seen in shape but have value, such as securities, shares, receivables, billing rights, claim rights and so on. Bitcoin can be categorized as an intangible object because bitcoin is in the form of electronic data. Bitcoin has one of the characteristics as an intangible object that is digital and does not have a physical form. Based on the explanation above Bitcoin has met the requirements as an object. So it can be concluded that bitcoin is a movable object that can move or be transferred from one user to another and is an intangible object because it can only be used digitally through electronic media with the internet network. The definition of intangible objects is almost the same as objects that cannot be seen in shape but have value, such as securities, shares, receivables, billing rights, claim rights and so on. Bitcoin can be categorized as an intangible object because bitcoin is in the form of electronic data. Bitcoin has one of the characteristics as an intangible object that is digital and does not have a physical form. Based on the explanation above Bitcoin has met the requirements as an object. So it can be concluded that bitcoin is a movable object that can move or be transferred from one user to another and is an intangible object because it can only be used digitally through electronic media with the internet network. The definition of intangible objects is almost the same as objects that cannot be seen in shape but have value, such as securities, shares, receivables, billing rights, claim rights and so on. Bitcoin can be categorized as an intangible object because bitcoin is in the form of electronic data. Bitcoin has one of the characteristics as an intangible object that is digital and does not have a physical form. Based on the explanation above Bitcoin has met the requirements as an object. So it can be concluded that bitcoin is a movable object that can move or be transferred from one user to another and is an intangible object because it can only be used digitally through electronic media with the internet network. such as securities, shares, receivables, receivables, claim rights and so on. Bitcoin can be categorized as an intangible object because bitcoin is in the form of electronic data. Bitcoin has one of the characteristics as an intangible object that is digital and does not have a physical form. Based on the explanation above Bitcoin has met the requirements as an object. So it can be concluded that bitcoin is a movable object that can move or be transferred from one user to another and is an intangible object because it can only be used digitally through electronic media with the internet network. such as securities, shares, receivables, receivables, claim rights and so on. Bitcoin can be categorized as an intangible object because bitcoin is in the form of electronic data. Bitcoin has one of the characteristics of an intangible object that is digital and does not have a physical form. Based on the explanation above Bitcoin has met the requirements as an object. So it can be concluded that bitcoin is a movable object that can move or be transferred from one user to another and is an intangible object because it can only be used digitally through electronic media with the internet network. Bitcoin has one of the characteristics as an intangible object that is digital and does not have a physical form. Based on the explanation above Bitcoin has met the requirements as an object. So it can be concluded that bitcoin is a movable object that can move or be transferred from one user to another and is an intangible object because it can only be used digitally through electronic media with the internet network. Bitcoin has one of the characteristics as an intangible object that is digital and does not have a physical form. Based on the explanation above Bitcoin has met the requirements as an object. So it can be concluded that bitcoin is a movable object that can move or be transferred from one user to another and is an intangible object because it can only be used digitally through electronic media with the internet network.


2. Bitcoin as a Digital Asset Digital asset is an item or object contained in an electronic system that has value that can be owned and controlled by a legal entity or individual. Digital assets are a form of development of the concept of assets which were initially only limited to the real world but developed into the cyber world. Digital assets are assets or objects whose ownership is recorded digitally which is controlled directly by the owner. So it can be concluded that bitcoin is a digital asset, where bitcoin is a collection of data or electronic documents contained in an electronic system and has economic value, which can be used and owned by legal entities or individuals. This is the basis for Bitcoin users to make it not only as a means of payment but as an asset for investment. The function and use of Bitcoin as a digital asset can be used to carry out activities in the cyber world ranging from sending money or remittances, investing or electronic trading quickly, comfortably, without the difficulties of using a cryptographic system. Bitcoin can now also be used as remittance4 . According to Muhammad Deivito Dunggio, sending money using bitcoin media does not violate Bank Indonesia regulations, this is because the remittance transactions that have been carried out by PT. Indodax Nasional continues to use the rupiah currency, which is then exchanged into Bitcoin through the website www.Indodax.com. After that, it can be sent bitcoins which can then be used or exchanged back into the currency of the recipient country. This delivery can only be made from Indonesia to other countries, not vice versa. Remittance at PT. The majority of Indodax Nasional is carried out by foreign nationals. 5 If based on these provisions the object in the delivery is money which in this case is Rupiah or other fiat currency. The problem that arises is the remittances made in PT. Indodax is a transfer between Bitcoin and Bitcoin which was initially exchanged through Rupiah. Which means that the transfer is not between currencies that are generally made or transfers between emoney created by the monetary party. There is no prohibition on the legality of using digital assets in Indonesia. Even for shipping activities carried out in the cyber world using virtual property, there are no regulations that specifically regulate this. The application of Bitcoin as an e-commodity (digital gold) will automatically change the payment model with Bitcoin which was previously considered a different currency and will switch to a barter trading system. 6 Bitcoin has all of the same characteristics as gold. At first Bitcoin was traded in its largest unit, namely BTC (2009-2012), but the higher the price of bitcoin reached hundreds of dollars, the units used in trading also became smaller to facilitate transactions. Bitcoin as an investment is very attractive to many people because its price is almost always increasing. Bitcoin has increased many times since it was first introduced in 2009. It is historically why many users invest their money in cryptocurrencies as a digital asset class, in order to expand their portfolio of traditional investments such as property, securities and gold.7 So that new users do not consider the initial purpose of Bitcoin to be used as an alternative payment transaction system but they tend to only think of Bitcoin as an alternative investment. As an investment tool in trading crypto currency is considered a commodity. This commodity can be traded. Bitcoin has increased many times since it was first introduced in 2009. It is historically why many users invest their money in cryptocurrencies as a digital asset class, in order to expand their portfolio of traditional investments such as property, securities and gold.7 So that new users do not consider the original purpose of Bitcoin to be used as an alternative payment transaction system but they tend to only think of Bitcoin as an alternative investment. As an investment tool in trading crypto currency is considered a commodity. This commodity can be traded. Bitcoin has increased many times since it was first introduced in 2009. It is historically why many users invest their money in cryptocurrencies as a digital asset class, in order to expand their portfolio of traditional investments such as property, securities and gold.7 So that new users do not consider the original purpose of Bitcoin to be used as an alternative payment transaction system but they tend to only think of Bitcoin as an alternative investment. As an investment tool in trading crypto currency is considered a commodity. This commodity can be traded. in order to expand their portfolio of traditional investments such as property, securities, and gold.7 So that new users do not consider the original purpose of Bitcoin to be used as an alternative payment transaction system but they tend to only consider Bitcoin as an alternative investment. As an investment tool in trading crypto currency is considered a commodity. This commodity can be traded. in order to expand their portfolio of traditional investments such as property, securities, and gold.7 So that new users do not consider the original purpose of Bitcoin to be used as an alternative payment transaction system but they tend to only think of Bitcoin as an alternative investment. As an investment tool in trading crypto currency is considered a commodity. This commodity can be traded.


3. Use of Bitcoin in Electronic Transactions in Indonesia One form of action that is generally carried out in cyberspace is trading. Trade is a form of economic event that is part of business activities. Business is a transaction that is oriented towards financial gain and which is a business activity which can be in the form of buying and selling trade or exchange. Not only done in real or face to face, currently this business activity can also be done electronically. Electronic business or e-business is a business process related to the existence of internal and external data where the process runs more efficiently and flexibly via the internet, so that the relationship between suppliers or business partners and customers is more satisfying and closely based on the desires and expectations of customers.8 Broadly speaking, business is not only limited to trade but can also be in the form of leasing, insurance, investment and others. So if there is a term regarding electronic business in general which is carried out through electronic media (not only the internet but also television, cellphones, etc.) it can be in the form of buying and selling, exchanging, investing or other economic transactions. Electronic commerce is known as electronic commerce (e-commerce). Electronic commerce is trading or buying and selling activities carried out on limited internet media supported by elements of the internet media itself. The development of e-business through e-commerce is inseparable from the rate of growth of the internet, this growth is a fact that the internet is an effective means to introduce or sell products in the form of their goods or services to prospective buyers around the world. In addition to electronic trading, there are also forms of investment made using the internet network. Like investing in crypto assets.