Boasting 40 meetups a month and a broad estimated neighborhood of 55,000 bitcoiners, the Bitcoin Indonesia ecosystem is perhaps some of the energetic and profitable Bitcoin adoption tales on the earth right this moment.
Indonesia is a nation made up of 17,000 islands with over 380 completely different tribes and cultures. The nation, positioned between Australia and China, has a inhabitants of over 280 million folks, which has been ravaged by inflation and financial repression, seeing the Rupiah collaps 61% since over the previous 30 years versus the greenback. Because of this, its inhabitants is keenly conscious of the issues with fiat forex and infrequently open to alternate options, fertile floor for Bitcoin adoption.
At present, the Bitcoin Indonesia circular economy has a number of ongoing schooling and adoption efforts throughout the nation. In response to Dimas, a former supplies science engineer turned Bitcoin evangelist and one of many founders of Bitcoin Indonesia, there are roughly 55,000 people partaking with Bitcoin in a technique or one other by means of their efforts. The 40 meetups a month are hosted throughout 40 completely different cities all through the nation, with Fedi, Blink, and Wallet of Satoshi as standard wallets. Bitcoin Indonesia’s Fedimint Federation — a Bitcoin ecash funds infrastructure — is estimated to have between 10,000 and 20,000 members, although particular numbers usually are not accessible given ecash’s strong privacy properties.
They’ve over 3,600 members in Telegram, over 27,000 on Instagram, and over 10,000 on TikTok, social platforms by means of which they distribute Bitcoin schooling content material in a mixture of Bahasa Indonesia and English to the native inhabitants. They’re additionally one of many greatest My First Bitcoin nodes, having graduated 500 students by 2025 of the Bitcoin certification and schooling program initially born in El Salvador. They purpose to double the variety of graduates by the tip of 2026.
Surviving a Authorities Ban
Whereas Bitcoin Indonesia’s success is spectacular, it isn’t the primary time Bitcoin adoption has swelled within the nation. Again in 2014, there was a Bitcoin adoption initiative that acquired some worldwide consideration known as the Bitcoin island, which centered totally on the attractive vacationer island of Bali. The initiative noticed as few as 42 retailers accepting bitcoin as much as ‘hundreads’ in keeping with Dimas, together with the acquisition of a high-profile luxury villa with bitcoin, value $500,000 on the time or 800 BTC.
The momentum and adoption should have been robust as a result of the Indonesian authorities responded to it, however not properly. In 2017, the federal government unleashed a crackdown on various currencies within the nation by the Financial institution of Indonesia, which issued a Regulation banning cryptocurrencies like Bitcoin as fee devices, efficient January 2018. It didn’t simply goal cryptocurrencies but in addition overseas fiat currencies just like the greenback or euros for funds. The BI cited dangers to monetary stability, cash laundering, and volatility, guaranteeing in flip the continued impoverishment of its inhabitants beneath a collapsing Ruphia. The crackdown was no paper tiger both; companies promoting various currencies like Bitcoin noticed undercover probes result in store closures beneath the specter of arrest and even jail time for operators.
The crackdown coincided with the 2017 bitcoin bull market as properly, which noticed on-chain charges go as excessive as $50 {dollars}, an financial occasion in Bitcoin which shook the business and led to the event of the Lightning Community, designed for high-speed, low-cost funds and which is used right this moment all through Bitcoin Round Economies. Because of this, nonetheless, adoption quieted down for years on this asian nation of islands, till after COVID hit, when the founders of the Bitcoin Indonesia neighborhood considered a brand new approach to spur bitcoin adoption within the nation.
Motivated by the post-COVID political and financial disaster, in addition to the meteoric rise of bitcoin from a low of $4,000 to as excessive as $70,000, a small group of Indonesian Bitcoiners kickstarted the native Bitcoin neighborhood once more, utilizing a brand new authorized technique that had protected bank cards and airmiles rewards applications from the 2018 authorized restrictions. Seems in case your fee system is a “closed loop” then you aren’t a ‘forex’. Bitcoin possession was nonetheless authorized as a retailer of worth; it was solely the medium of trade utilization that was restricted. But when as a substitute of shopping for one thing with bitcoin you’re redeeming bitcoin for a services or products, then it’s, legally talking, a good sport. This loophole, which protects the native banks and different main legacy monetary gamers, additionally gave cowl to Bitcoin.
Right here’s Fedi came in to provide infrastructure, resulting in an actively used Bitcoin ecash mint, estimated to have 10,000 to twenty,000 members. In Bitcoin Indonesia, folks don’t spend bitcoin; they redeem it in shops which might be members of the community, maintaining using bitcoin legally compliant with the native legal guidelines, whereas unlocking service provider adoption.
With the authorized technique sorted out, it was a matter of reactivating the community of Bitcoin OGs within the nation, many seemingly created in that 2014 period of “The Bitcoin Island” in Bali. One second specifically stood out to Dimas, trying again on the bootstrap section of the neighborhood. He reached out to a neighborhood “Bitcoin whale” and talked about he needed to begin a neighborhood My First Bitcoin node. Quickly sufficient, the whale acquired again to him and supplied a business location at a close-by mall to host the occasions; “owned by a son-in-law,” he mentioned, “you should use it without cost”. Surprised, Dimas requested, “Does he personal the shop or one thing?” The whale mentioned, “No, he owns the mall”. An instance, Dimas says that “something can occur in Bitcoin”. This similar initiative finally led to the five hundred college students graduating from the My First Bitcoin program in 2025.
Pillars of a Profitable Bitcoin Meetup
Leveraging his expertise within the broader crypto business, internet hosting schooling occasions for exchanges like Tokocrypto in 2021, Dimas and the area people additionally began internet hosting Bitcoin meetups. In contrast to a lot of the competitors within the nation on the time, these instructional occasions have been free reasonably than costing attendees a whole bunch of {dollars} to entry. Ultimately, Bitcoin Indonesia developed a template for creating profitable Bitcoin meetups, which they printed as a guide on GitHub for free.
The principle pillars of a profitable meetup, in keeping with Dimas and the Bitcoin Indonesia neighborhood, are:
- Be a real Bitcoiner with strong information.
“First, it’s important to be a Bitcoiner. It’s a must to know sufficient about Bitcoin.” Dimas defined. The chief should have an actual understanding to coach and encourage others authentically.
- Be prepared to grow to be a long-term neighborhood chief.
“Second, you’re prepared to grow to be a frontrunner, which signifies that you need to be capable of increase. Handle your neighborhood, and make it greater. You don’t simply run meet up and that’s it. It’s a must to grow to be like a job determine in your space.”
Success requires ongoing dedication past one occasion. It means being publicly seen, constructing, rising, and proudly owning the native Bitcoin presence.
- Safe a free venue with no limitations.
“Third one, it’s important to discover a place, an area, ideally a restaurant… that attendees don’t should pay to attend. There can’t be a minimal order of espresso or one thing like that.”The placement should be zero-cost and welcoming (no minimal spend), eradicating monetary hurdles so anybody can attend.
- Present free branding and supplies (with reimbursement).
“We offer the leaders with the flag, with the books, flyers, stickers, banners, and the whole lot. So that they print it themselves, after which we simply reimburse them.”Advertising and marketing and infrastructure help, like flags, books, flyers, and so forth, make the occasion look skilled and constant, whereas reimbursement retains the chief motivated. Ultimately, donations can help rising meetups.
- Hold it fully free for attendees.
“Our model is free, free meetup, free schooling.”Charging for schooling, like competing crypto academies that cost $1,000–$2,000, creates expectations of fast returns and infrequently results in disappointment or scams. Free entry builds belief and speedy development.
- Give attention to Bitcoin and monetary literacy.
“We attempt to educate that Bitcoin is a instrument that may actually empower you. That’s Bitcoin for everybody. First, what’s cash? After which what’s the historical past of the Indonesian Rupiah? Why are you feeling so poor? And the way Bitcoin may be one of many instruments that may assist folks to attain true monetary freedom.”By educating folks monetary literacy, they grow to be inoculated in opposition to Ponzi schemes and different crypto scams, which have ravaged the nation and seeded broad skepticism within the public in the direction of this business. Educating folks in regards to the historical past of cash and particularly their native forex helps them perceive why Bitcoin can assist them rise and break the cycle of fiat collapse.
The Bitcoin Indonesia round economic system has been supported by HRF, OpenSats, Block.xyz, and Mike Petersoin of Bitcoin Seaside fame.
