Central of the Philippines Recognizes Bitcoin - page 17.

Prettyme

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Quote from: Xester on February 10, 2017, 03:11:50 AM

http://www.newsbtc.com/2017/02/08/philippines-bangko-sentral-recognizes-bitcoin-payment-system/

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

It sounds impossible but its a good news for all of us as a filipino. Bitcoin has been increasing and become popular to the philippines so i think its a good idea that bitcoin has been recognize to our country. Bitcoin will really help the country philippines to rise up when it comes to economy.

Adbitco

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It's good to know that lots of Asian countries are recognizing bitcoin, it's not only going to make the lives of lots of Asian people better but also it's a good sign for the consistent growth of bitcoin and cryptocurrencies. It's to be noted that people of the Philippines are very hardworking and honest and I'm sure they are going to take bitcoin to next level in terms of adoption, acceptance and popularity.

deejhay

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That would be good for people in the Philipines if the bank recognize bitcoin. In fact it may draw lot of supporter in the country if the statement comes from the bank and will be benificial to those that might want to engage in trading as it have potential earning for common people.

omonuyak

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This is good and like btcc CEO has said bitcoin is resilent and it value did not come from governments acceptability.banning bitcoin will not be a good idea because people will go underground to do black market business with it. Philippines recognise bitcoin is a good development but bitcoin value did not come from governments acceptability but from it demands and supplies force. Bitcoin is decentralized and without government bitcoin has able to get this popularity and great development in technology and public acceptability.

karmakeddon

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I have actually seen some mom and pop stores here set up a payment system for bitcoin. They display a paper wallet option in front of the counter and you can just go ahead and scan the QR for payment. One such place is called Mr. Delicious, which is a cured meat shop where they offer assorted deli meats.

ajmapalo22

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It is nice to hear that some countries recognizes the financial help bitcoin has offer to many people with this kind of recognition chances that the value of bitcoin will continue to appreciate and the demand will likely to increase since there are published story regarding bitcoin more people will get interested that can lead to sudden increase in the market gap of bitcoin.

Kotone

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Quote from: Xester on February 10, 2017, 03:11:50 AM

http://www.newsbtc.com/2017/02/08/philippines-bangko-sentral-recognizes-bitcoin-payment-system/

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

As the Philippines is usually connected to Overseas Workers and other stuff. Remittance has really been made easier by Bitcoin and that is why that slowly and sirely Bitcoin is making waves at the Philippines. More and more are trying out bitcoin and trying and sayo g that bitcoin has been making it easier for them to send money.

syaripudin

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I think this is good news for Filipinos if their government is able to accept bitcoin. this will certainly be very profitable for those who do dibitcoin activities. I know that the Philippines is a country that does not develop much industrial systems in this country, which causes some percent of its citizens to decide to work outside the country. of course this will be an opportunity for them to buy bitcoin at a fairly low price and get bitcoin with a high enough value of course this will make them prefer bitcoin in sending money his country. of course this will be very profitable for them, not to mention the effect gained that of course will be more and more investors who want to invest in the country of philippines. this will be very beneficial for the citizens of the Philippines yes of course with the rules applied by the government of the Philippines.

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Quote from: Question123 on February 11, 2017, 11:15:35 PM

I'm from Philippines also. Yes its good news to us! Because many Filipino heard that news they might been interested to invest to bitcoin. So the price of bitcoin will pump to high. What if big investor can read that and invest big money the bitcoin price go to the moon. Thanks to bank central ng pilipinas for publishing like that news. Many people the job is bitcoin and many (ofw) overseas Filipino workers the sideline in bitcoin. I think it will not end this year bitcoin will become popular in my country.

That's true, amd I think it will be a good idea that Philippine Central Bank is recognizing bitcoin as one of the helpful sysem that may contribute a lot in our Economy unlike in the other coumtries, they banned Bitcoin in a unclear reason and I think that's because they dont see the potentials that bitcoin may acquire for their Economy.

ongels

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I'm from Philippines, and im glad to hear Philippines recognized bitcoin as a mode of payment. The fact that some areas in the Philippines are not yet reached by bitcoin community due to its limited access in internet, But it will be a great help in the economy. Lot's of Filipino's are jobless hoping this will be the tool to escape from poverty.

gunhell16

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Quote from: Dmitry.Vastov on February 12, 2017, 01:33:28 AM

Im Filipino also. But what i see in our country, only few people here in our country knows and appreciate bitcoin and only few companies or markets are accepting bitcoin. So this is a good news for all of us who use bitcoin. Hope this will intensifies the progress of bitcoin in our country so we all could benefit from it.

Wee just need to wait for the right time .. yeah! i think less than 5% of the population knows what is bitcoin is and 50% of the 5 are the one whos doing bitcoin, they dont know yet the gain in bitcoin.. though the banks now are really doing some jobs for bitcoin and if you will go somewhere in Makati there is an ATM machine for bitcoin. this good news from central bank hopefully will not pull the attention of the government by doing what china did !

Tubig

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Quote from: Question123 on February 11, 2017, 11:15:35 PM

I'm from Philippines also. Yes its good news to us! Because many Filipino heard that news they might been interested to invest to bitcoin. So the price of bitcoin will pump to high. What if big investor can read that and invest big money the bitcoin price go to the moon. Thanks to bank central ng pilipinas for publishing like that news. Many people the job is bitcoin and many (ofw) overseas Filipino workers the sideline in bitcoin. I think it will not end this year bitcoin will become popular in my country.

The bank recognizes bitcoin because bitcoin is becoming popular in the Philippines, and because poverty is a problem lots of Filipinos are willing and are interesed on how to earn in bitcoin. And as you said, its an advantage for the OFWs to transact using bitcoin because it has a low transaction fee. But I think the government will apply taxes to it so that they will also earn to the Filipinos industriousness.

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Quote from: Xester on February 10, 2017, 03:11:50 AM

http://www.newsbtc.com/2017/02/08/philippines-bangko-sentral-recognizes-bitcoin-payment-system/

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

Another good news. I am from the Philippines and I happy that the bitcoin is now accepted and recognize that the bitcoin as payment system. I know that the priceof the bitcoin will rise up again because of the good news.

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Quote from: Nerman on September 19, 2017, 08:17:49 PM

This is a very good news not only for the Philippines but for the whole Bitcoin community.

I Hope other countries approve or recognize not just Bitcoin but other reputable Altcoins.

It will be hard for Altscoins since it's too broad . There are plenty of alts and some are just shitcoin to be acknowledged. But there are really aome that are worth identifying.

Nerman

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This is a very good news not only for the Philippines but for the whole Bitcoin community.

I Hope other countries approve or recognize not just Bitcoin but other reputable Altcoins.

marjoree

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this is a great news! We Filipinos may now have an access investing here in bitcoin and then easily convert it into our currency. I bet many of us will get encourage joining Bitcoin. And sooner, our economy will rise up since this provides employment even if we are just in our homes!

dearbesz1219

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Quote from: Dmitry.Vastov on February 12, 2017, 01:33:28 AM

Im Filipino also. But what i see in our country, only few people here in our country knows and appreciate bitcoin and only few companies or markets are accepting bitcoin. So this is a good news for all of us who use bitcoin. Hope this will intensifies the progress of bitcoin in our country so we all could benefit from it.

That's the reality situation of your country's now, on which many of your citizens there was not quite familiar into bitcoin. And as far as I know bitcoin in your place was having a bad introduction in your country because of some investment scheme where they used bitcoin at their own self interest which is bitclub and The Billion Coins so the image of bitcoin was become bad to anyone because of those shit coins that has been arise in your country. Though the acceptance of BSP was a real good news to all Filipino out there its a good advantage that can be considered.

buharikx31

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I think Phillippines maybe the only country which are giving a lot potential to bitcoin. Mostly countries are scared to trust bitcoin,because of non-stable priceand non-decentalized system,which always make a big impact on political thoughts about bitcoin and real potential to inject it in different countries

Yakamoto

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That's actually pretty interesting to see, I would expect somewhere like the Philipines to recognize something like Bitcoin, but their most recent President/Prime Minister/Whatever seems to be pretty based and seems to be open to helping his people more, while cracking down on crime at the same time. This might be one of his ways of getting to that.

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Quote from: sportis on February 20, 2017, 06:26:59 AM

Quote from: lionheart78 on February 19, 2017, 08:56:25 AM

--snip--

Exchange like coins.ph have issues too on where you get your Bitcoin. If they found out or traced that you get your Bitcoin the illegal way, or in a shady way, they will freeze your account. Or if you have a numerous shady transaction. There is some inquiry in Coins.ph thread in Philippine Local Board about his relative's account being freezed. Same way how the BSP wanted to implement a more strict compliance by Exchanges like Coins.ph, Rebit.ph etc. on AML/KYC. They even implement a submission of yearly report of theses exchanges.

It's not strange for me. There are and other exchanges too, like as Coinbase which follows the same policy that is tracking how their users spend their bitcoins not only for illegal activities but to gambling sites too.

As far as I know aside from that Xapo also is the same as coinbase, the same rules and policies too. Since there are implementing this things most of their client users are abiding this rules and policy also.

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