Topic: Bitcoin Island in the Philippines, Have you ever been there? - page 4. (Read 590 times)
Boracay has become quite a tourist hotspot and crowds can be overwhelming. It's a beautiful destination, but I havent visited it yet. I think the number of so many tourists to Boracay creates more opportunities for Bitcoin transactions and it could be a unique selling point for businesses and enhance the overall tourist experience. It could be a game-changer, attracting more tourists and boosting local businesses, or it might just fizzle out. Who knows
Since they have their own wallet e.g. pouch.ph which adopt lightning network, so there's no more complain about the high fees. It could be successful as long as the tax is not big, as long as they can offer many entertainment, it might be successful since the main traffic is the tourist.
The only thing that need to worry is privacy, I can't think there's other problem except that.
The only thing that need to worry is privacy, I can't think there's other problem except that.
I visited Boracay on one of my business trips. It is definitely beautiful and the weather was wonderful, especially since the weather in my country is very hot. However, their acceptance of Bitcoin, although it is a good step, I do not expect to spend with Bitcoin on my tourist trips, especially with the limited places that accept payment in Bitcoin, but it is a good step.
I just hope that they will be accepted using Bitcoin wallets and not through third-party applications, or that they will convert Bitcoin to dollars by the end of the day.
I just hope that they will be accepted using Bitcoin wallets and not through third-party applications, or that they will convert Bitcoin to dollars by the end of the day.
Boracay island already get another title as a "Bitcoin island" by Pouch a cryptocurrency wallet service provider here in the country. Bill Mill, the Vice President of Pouch stated that...
Source: https://bitpinas.com/cryptocurrency/pouch-ph-boracay-bitcoin-island/
You can watch foreigners exploring on Bitcoin island here:
https://youtu.be/TyDBiBMYP6M?si=FIWIBiQn0Xmq-BPn
https://youtu.be/n5sDNRuUiWg?si=C50MlpvmPlQLliZl
https://youtu.be/ftHLO9gaUb4?si=3aWNt1_8Eceuq9IA
Since Boracay is one of the most beautiful tourist destination in the world that accepts Bitcoin payment I think it will boost the country's economy by attracting more and more foreign crypto enthusiast and tourists around the world. And I can also see booming local businesses getting into Bitcoin transactions on that island.
So my question here is that, does the Bitcoin thing on this Island really has impacts to the country's economic growth in the long run? Do you really think that this kind of business model has potential in the future or just some kind of a trial and error? Is there any possibility for local remittances to worry about this innovation? Please share your thoughts.
Quote
If all the remittance markets were to switch to bitcoin as rails, it would increase the GDP of the entire country by 1%
Source: https://bitpinas.com/cryptocurrency/pouch-ph-boracay-bitcoin-island/
You can watch foreigners exploring on Bitcoin island here:
https://youtu.be/TyDBiBMYP6M?si=FIWIBiQn0Xmq-BPn
https://youtu.be/n5sDNRuUiWg?si=C50MlpvmPlQLliZl
https://youtu.be/ftHLO9gaUb4?si=3aWNt1_8Eceuq9IA
Since Boracay is one of the most beautiful tourist destination in the world that accepts Bitcoin payment I think it will boost the country's economy by attracting more and more foreign crypto enthusiast and tourists around the world. And I can also see booming local businesses getting into Bitcoin transactions on that island.
So my question here is that, does the Bitcoin thing on this Island really has impacts to the country's economic growth in the long run? Do you really think that this kind of business model has potential in the future or just some kind of a trial and error? Is there any possibility for local remittances to worry about this innovation? Please share your thoughts.
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