I have a question for your Filipinos on this forum, how is it I see so much news about Bitcoin adoption in your country, and so many Filipinos talk to me about Bitcoin (I meet many of them actually especially if you work with IT!) but actually not a single one of them spends Bitcoin like I do.
None are earning, all are buying their own, a few are trading but I don't consider that using. Basically, none of them earn or pay bills or anything. Is it because outside Philippines they are not really using Bitcoin? It doesn't make sense!
Topic: Bitcoin could be used to pay for Bills,load and for travel in the Philippines - page 12. (Read 18540 times)
March 03, 2019, 10:22:19 AM
March 03, 2019, 09:07:23 AM
Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.
With coins.ph wallet/platform you can eventually used these services which is really a great convenience specially for those people who do have crypto but on my partim not actively using up my coins for the sake of paying up bills and other expense that you can use up with your coin.Better to save up for longer runs rather than actively spending it.
This is just my personal preference though.
March 03, 2019, 06:51:51 AM
The Philippines has a large crypto followers and so it is not surprising that making daily payments in Bitcoin is just some steps away. It is a great way to say "Hello bitcoin".
Wow cool . thats good to know that philippines got a large database of crypto users but its not surprising that they have that kind of features as what on stated on the op because other country do have that too . generally speaking those services are not country specific but instead they are global because they can all be access online .
March 03, 2019, 06:28:18 AM
That is a good development and the Philippine has been a great supporter of cryptocurrency, being able to pay bills using bitcoin is a great eas for the whole community. But using bitcoin will always be a waist of a scarce commodity like bitcoin, and at that since you can pay for all this stuffs with fait currency.
March 03, 2019, 04:48:45 AM
Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.
Well, that's nice but isn't it a waste of Bitcoin if you start to use it now where we are at in this bearish market? When we are in a bearish trend, we are supposed to buy back and accumulate as much Bitcoin as we can. When Bitcoin starts to rise with the bullish market then that's the time that we have to spend some of it.Anyway, why not use cash instead of Bitcoin to spend on your bills? You can't accumulate more Bitcoin with that if you keep spending it every month.
March 03, 2019, 03:24:00 AM
Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.
Yes its easy to own and spend not just bitcoin but also eth, xrp and bch so Philippines is one of the best place for cryptocurrency. But I still don’t want to use it for some of my small transactions because I know bitcoin will become an expensive coin again very soon. March 03, 2019, 02:56:29 AM
Yes, I agree with this. Filipinos do have their facility to buy load exchange Bitcoin to fiat, pay bills and even book flights. They have this application or rather mobile application used in order for them to these things. The mobile application is called coins.ph. They are so lucky because they a separate application for local Bitcoin wallet.
March 03, 2019, 02:51:47 AM
The development of Bitcoin in the Philippines seems quite positive. The central bank document acknowledges the possibilities Bitcoin brings to the country. Moreover, the country has no plans to create independent licensing requirements for Bitcoin, which is good. The new scheme is expected to come into effect on February 21, 2017. What legal effects will Bitcoin have on its use in the Philippines?
March 03, 2019, 02:45:03 AM
Coins.ph being one of the the most used wallet around Philippines giving access to more services accepting bitcoin surely adds more user to the bitcoin user community. Already there were more and more marketplace with bitcoin acceptance, now paying electricity and other necessities with bitcoin will help in the growth of bitcoin.
As what mjglqw said the reply above of your's, Coins.ph users most likely used their fiat to pay bills and other necessities but not their own Bitcoin. I must prefer to wait when the market recovers and use my bitcoin rather than used in the unnecessary thing which is you just wasting profit with bitcoin opportunity. March 03, 2019, 02:41:17 AM
But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL. 
That's opinion mate. But sometimes for me, if its really in case of emergency especially if you are out of pocket money, and also need some bills to pay, need for food and for commuting too. I have been using bitcoin quite some time to pay those ones.
March 03, 2019, 02:33:06 AM
Unfortunately Bitcoin is not money. At least not yet.
It is still an asset and this is how it will remain until the volume that forms the BTC rates will come from those users that are paying bills with it and treating it as a currency and not an asset. Right now people are still trading it as an asset more than they use it as a currency.
It is still an asset and this is how it will remain until the volume that forms the BTC rates will come from those users that are paying bills with it and treating it as a currency and not an asset. Right now people are still trading it as an asset more than they use it as a currency.
Actually, by definition, money can be an asset. I see what you're trying to say though, and I disagree. Bitcoin is money; it's just a bit problematic how people are actually incentivized not to spend it.
And you said it yourself. Things will never change until people actually use it as money. I get that it's probably not financially wise to spend it because it could easily be worth 10x more in the future, but it won't actually get to that point if everyone just relied on everyone else to do the dirty work.
March 03, 2019, 02:31:13 AM
Coins.ph being one of the the most used wallet around Philippines giving access to more services accepting bitcoin surely adds more user to the bitcoin user community. Already there were more and more marketplace with bitcoin acceptance, now paying electricity and other necessities with bitcoin will help in the growth of bitcoin.
March 03, 2019, 02:10:38 AM
Yes. We can. But let's be completely honest and realistic here. Majority of the Coins.ph users use the app to buy all these things using their fiat wallet, not their bitcoin wallet. Not everyone wants to handle volatile assets, especially the poorer people as they'd definitely need money ready at all times.
Not saying that this is a bad thing though, having the option to pay with BTC is always good.
Not saying that this is a bad thing though, having the option to pay with BTC is always good.
March 03, 2019, 12:46:33 AM
But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL.
Agree with you here on all accounts. Just because you are physically able to pay with BTC doesn’t necessarily mean it’s the wisest idea.
It is still an asset and this is how it will remain until the volume that forms the BTC rates will come from those users that are paying bills with it and treating it as a currency and not an asset. Right now people are still trading it as an asset more than they use it as a currency.
March 03, 2019, 12:36:01 AM
But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL.
To be honest, Bitcoin is a payment system in its core and if we are not using it as a payment instrument then we are destroying it. This whole system is based on trust that someone will pay x amount or goods of equivalent amount against 1 bitcoin and if no one is spending it then no one will accept it on the other side this will reduce the value and trust on Bitcoin over the period of time. Hence in order to improve the utility value of Bitcoin, we must start using it as a payment instrument.
March 03, 2019, 12:24:24 AM
Well its an advantage to use this wallet compared to others due to its features and just like what op said you can pay your bills and top up your phone without the need of falling in line.
Its been 5 years since coins.ph were created and it is beneficial for the filipinos to have this local wallet with such features. The only problem that I see is you dont hold your private keys, thus they have the authority to suspend your account if you violate their rules.
Nevertheless, I prefer to keep hodling and buy additional bitcoins because the price is cheap. Thats why I refrain myself from spending it for paying bills and buying goods.
Its been 5 years since coins.ph were created and it is beneficial for the filipinos to have this local wallet with such features. The only problem that I see is you dont hold your private keys, thus they have the authority to suspend your account if you violate their rules.
Nevertheless, I prefer to keep hodling and buy additional bitcoins because the price is cheap. Thats why I refrain myself from spending it for paying bills and buying goods.
March 03, 2019, 12:18:23 AM
Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.
Hey that’s nice to hear but can you give more specifics of this local wallet, is it a secured wallet and most importantly a decentralised wallet?. Also what are the transactions costs you’re incuring when you’re paying it with bitcoins, and how soon does the confirmation takes place. Lastly op I would not advise you to use bitcoins for every small transaction, use it if it’s necessary you’ll earn more from it if you hodl it.
March 02, 2019, 10:55:51 PM
Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.
That's great to see bitcoin have more use cases over time, taking the place of fiat currencies to pay for goods and services. I believe bitcoin will be especially valuable in the developing world due to its economic and political instability leading to occasional hyperinflation.
This is very beneficial, as they do in some airlines that give the option of payment through Bitcoin, every service that can be paid with Bitcoin is excellent, it expands more and more and this makes the market in general begin to grow, simply because there will be people who will be integrated into the bitcoin world, and possibly investors.
March 02, 2019, 10:17:54 PM
Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.
That's great to see bitcoin have more use cases over time, taking the place of fiat currencies to pay for goods and services. I believe bitcoin will be especially valuable in the developing world due to its economic and political instability leading to occasional hyperinflation.
March 02, 2019, 09:35:16 PM
Yes, the Philippines is already adopting the concept of micro-transaction where people are able to use Bitcoin to buy small things. With this, anything can be possible. I'm amazed on how this country permits the usage of Bitcoin and cryptocurrency but the regulation is not that heavy.
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