I have to say that if someday by some miracle one of the top 10 most advanced countries in the world publicly announces that they are accepting bitcoin as a currency to deposit and open accounts solely with bitcoin itself then price will really skyrocket like %500. but still any country with 5m+ population is a good thing to let their people take advantage of the benefits bitcoin is offering them.
That would have both positive and negative consequences. I'm not sure if it's better for Bitcoin to be recognized as an actual currency or rather an asset. 
Topic: Central of the Philippines Recognizes Bitcoin - page 19. (Read 8965 times)
I have to say that if someday by some miracle one of the top 10 most advanced countries in the world publicly announces that they are accepting bitcoin as a currency to deposit and open accounts solely with bitcoin itself then price will really skyrocket like %500. but still any country with 5m+ population is a good thing to let their people take advantage of the benefits bitcoin is offering them.
This is really interesting, we are now moving forward to our continuing development of the economy. So I am excited to have our own Bitcoin ATM here in our country. This is a great news ahead of us especially to those who are already involved in BTC and also for those who are still curious, I hope they can now understand and accepts bitcoin as a currency.
We already have our own Bitcoin ATM somewhere in Makati. It was available since last two years as far as I know. I don't know if it is still functional since I have not even went where it is to see it for myself. And in my opinion there is nothing to get excited about this news. This only means that the exchanges will function like a bank where they need our identities and proof of identities to be able to make a transaction especially converting Bitcoin to local fiat. And worst, the possibility of imposing tax to all exchange transaction is inevitable.
This is just to trying to legalize bitcoin, but they does wanna to know who is dealing at crypto world, but im pretty sure some of us able to make a good money at crypto dont wanna money frozen at the banks because they wont accept the dark marketplaces were we did used to get those coins, knowing that those are the exchanges that already pay fees to their respective countries.
The Philippine Central Bank has already regulated bitcoin. This is a step towards making bitcoin a legal tender in their country. We will just have to wait and see how things went out in Philippines, whether taxing it or not is up to the government of Philippines.
It's the only reason why they would legetimize btc xD
Why taking the time and effort to create new laws including btc if not to tax it
They have a lot of reforms. The new president wants to improve the lives of their people. And I think that these steps are very wise. Bitcoin also benefits from it
I do not see how bitcoin benefit from the reform of the government since they are not Bitcoin directed. Besides The Banko Sentral ng Pilipinas wants to ride the profit from the Bitcoin users thru eschanges. But for the benefit of the doubt, it will indeed boost Bitcoin adoption somehow.
Well lets see the actual scenario in the future effect of these bitcoin plans specially in central of the Philippines. Actually this bank have in control with the profit of entire country and as I have observed they see that bitcoin is really profitable, thats why they allowed the wallet site in the country to be a mediator of digital currency exchanged with fiat money currency.
The Philippine Central Bank has already regulated bitcoin. This is a step towards making bitcoin a legal tender in their country. We will just have to wait and see how things went out in Philippines, whether taxing it or not is up to the government of Philippines.
It's the only reason why they would legetimize btc xD
Why taking the time and effort to create new laws including btc if not to tax it
They have a lot of reforms. The new president wants to improve the lives of their people. And I think that these steps are very wise. Bitcoin also benefits from it
I do not see how bitcoin benefit from the reform of the government since they are not Bitcoin directed. Besides The Banko Sentral ng Pilipinas wants to ride the profit from the Bitcoin users thru eschanges. But for the benefit of the doubt, it will indeed boost Bitcoin adoption somehow.
The Philippine Central Bank has already regulated bitcoin. This is a step towards making bitcoin a legal tender in their country. We will just have to wait and see how things went out in Philippines, whether taxing it or not is up to the government of Philippines.
It's the only reason why they would legetimize btc xD
Why taking the time and effort to create new laws including btc if not to tax it
They have a lot of reforms. The new president wants to improve the lives of their people. And I think that these steps are very wise. Bitcoin also benefits from it
The Philippine Central Bank has already regulated bitcoin. This is a step towards making bitcoin a legal tender in their country. We will just have to wait and see how things went out in Philippines, whether taxing it or not is up to the government of Philippines.
It's the only reason why they would legetimize btc xD
Why taking the time and effort to create new laws including btc if not to tax it
there is nothing to improve in bitcoins situation in our country, BSP doesn't really care about what BTC does so long as the users get to be taxed. there will be no different to using paypal over btc due to these taxes and we possibly be the usual suspects too for all the extortions going on.
Well the idea is that BTC can't really be taxed unless you want it.
So recognizing BTC is a big progress in stoping this "extortion" as you're saying.
can't be taxed of course it can't be. thanks for letting me realize that. its probably our accounts to the remittances and exchanges that will be taxed to which every time you will cashout, some usd will be deducted from the total amount.
Government could tax everything if they like it . we cant control government because they are powerful but first they should recognize bitcoin in their country then after that they can do tax bitcoin but lets hope that they will not do it
beside that, there is only few country that already approve bitcoin and the adoption is not fast like many people thinking but i am sure that in someday, if many government doing what Philippines do, then bitcoin will be approve too and guess what, we can use bitcoin in many places and we can see bitcoin ATM is available too like ATM machine.
i think the government is already learning about bitcoin and trying to use bitcoin for secret and they are not yet giving statement anything about bitcoin because they still studying bitcoin until they sure about bitcoin.
The Philippine Central Bank has already regulated bitcoin. This is a step towards making bitcoin a legal tender in their country. We will just have to wait and see how things went out in Philippines, whether taxing it or not is up to the government of Philippines.
there is nothing to improve in bitcoins situation in our country, BSP doesn't really care about what BTC does so long as the users get to be taxed. there will be no different to using paypal over btc due to these taxes and we possibly be the usual suspects too for all the extortions going on.
Well the idea is that BTC can't really be taxed unless you want it.
So recognizing BTC is a big progress in stoping this "extortion" as you're saying.
can't be taxed of course it can't be. thanks for letting me realize that. its probably our accounts to the remittances and exchanges that will be taxed to which every time you will cashout, some usd will be deducted from the total amount.
Government could tax everything if they like it . we cant control government because they are powerful but first they should recognize bitcoin in their country then after that they can do tax bitcoin but lets hope that they will not do it
beside that, there is only few country that already approve bitcoin and the adoption is not fast like many people thinking but i am sure that in someday, if many government doing what Philippines do, then bitcoin will be approve too and guess what, we can use bitcoin in many places and we can see bitcoin ATM is available too like ATM machine.
i think the government is already learning about bitcoin and trying to use bitcoin for secret and they are not yet giving statement anything about bitcoin because they still studying bitcoin until they sure about bitcoin.
there is nothing to improve in bitcoins situation in our country, BSP doesn't really care about what BTC does so long as the users get to be taxed. there will be no different to using paypal over btc due to these taxes and we possibly be the usual suspects too for all the extortions going on.
Well the idea is that BTC can't really be taxed unless you want it.
So recognizing BTC is a big progress in stoping this "extortion" as you're saying.
can't be taxed of course it can't be. thanks for letting me realize that. its probably our accounts to the remittances and exchanges that will be taxed to which every time you will cashout, some usd will be deducted from the total amount.
Government could tax everything if they like it . we cant control government because they are powerful but first they should recognize bitcoin in their country then after that they can do tax bitcoin but lets hope that they will not do it
beside that, there is only few country that already approve bitcoin and the adoption is not fast like many people thinking but i am sure that in someday, if many government doing what Philippines do, then bitcoin will be approve too and guess what, we can use bitcoin in many places and we can see bitcoin ATM is available too like ATM machine.
i think the government is already learning about bitcoin and trying to use bitcoin for secret and they are not yet giving statement anything about bitcoin because they still studying bitcoin until they sure about bitcoin.
there is nothing to improve in bitcoins situation in our country, BSP doesn't really care about what BTC does so long as the users get to be taxed. there will be no different to using paypal over btc due to these taxes and we possibly be the usual suspects too for all the extortions going on.
Well the idea is that BTC can't really be taxed unless you want it.
So recognizing BTC is a big progress in stoping this "extortion" as you're saying.
can't be taxed of course it can't be. thanks for letting me realize that. its probably our accounts to the remittances and exchanges that will be taxed to which every time you will cashout, some usd will be deducted from the total amount.
Government could tax everything if they like it . we cant control government because they are powerful but first they should recognize bitcoin in their country then after that they can do tax bitcoin but lets hope that they will not do it
This is really interesting, we are now moving forward to our continuing development of the economy. So I am excited to have our own Bitcoin ATM here in our country. This is a great news ahead of us especially to those who are already involved in BTC and also for those who are still curious, I hope they can now understand and accepts bitcoin as a currency.
We already have our own Bitcoin ATM somewhere in Makati. It was available since last two years as far as I know. I don't know if it is still functional since I have not even went where it is to see it for myself. And in my opinion there is nothing to get excited about this news. This only means that the exchanges will function like a bank where they need our identities and proof of identities to be able to make a transaction especially converting Bitcoin to local fiat. And worst, the possibility of imposing tax to all exchange transaction is inevitable.
This is actually a good news to the Philippines. If the Central Bank did not see the merits of bitcoin but instead its potential to be used in money laundering and other illegal activities they will move for the banning of bitcoin in the country. But the fact that they see merits in bitcoin, banning is now out of the picture and bitcoin can now be accessible to anyone in the country without any hindrance from the government.
I am a proud Filipino citizen and I am glad that we are really adopting this crypto currency ,
And we are supporting it hope that we could use our bitcoin to buy in some supermarkets .
And we are supporting it hope that we could use our bitcoin to buy in some supermarkets .
there is nothing to improve in bitcoins situation in our country, BSP doesn't really care about what BTC does so long as the users get to be taxed. there will be no different to using paypal over btc due to these taxes and we possibly be the usual suspects too for all the extortions going on.
Well the idea is that BTC can't really be taxed unless you want it.
So recognizing BTC is a big progress in stoping this "extortion" as you're saying.
can't be taxed of course it can't be. thanks for letting me realize that. its probably our accounts to the remittances and exchanges that will be taxed to which every time you will cashout, some usd will be deducted from the total amount.
Government could tax everything if they like it . we cant control government because they are powerful but first they should recognize bitcoin in their country then after that they can do tax bitcoin but lets hope that they will not do it
This is really interesting, we are now moving forward to our continuing development of the economy. So I am excited to have our own Bitcoin ATM here in our country. This is a great news ahead of us especially to those who are already involved in BTC and also for those who are still curious, I hope they can now understand and accepts bitcoin as a currency.
We already have our own Bitcoin ATM somewhere in Makati. It was available since last two years as far as I know. I don't know if it is still functional since I have not even went where it is to see it for myself. And in my opinion there is nothing to get excited about this news. This only means that the exchanges will function like a bank where they need our identities and proof of identities to be able to make a transaction especially converting Bitcoin to local fiat. And worst, the possibility of imposing tax to all exchange transaction is inevitable.
This is really interesting, we are now moving forward to our continuing development of the economy. So I am excited to have our own Bitcoin ATM here in our country. This is a great news ahead of us especially to those who are already involved in BTC and also for those who are still curious, I hope they can now understand and accepts bitcoin as a currency.
We already have our own Bitcoin ATM somewhere in Makati. It was available since last two years as far as I know. I don't know if it is still functional since I have not even went where it is to see it for myself. And in my opinion there is nothing to get excited about this news. This only means that the exchanges will function like a bank where they need our identities and proof of identities to be able to make a transaction especially converting Bitcoin to local fiat. And worst, the possibility of imposing tax to all exchange transaction is inevitable.
I get your point man, and you are right exchanges would be moderated and controlled the government which may not be a good news to all of the users and I think it is already happening since the last few months because coins.ph is already requiring for further information about our Identity and it seems they are getting more strict with their users . well in terms of taxes, the government have the rights to impose a tax on us whenever we are going to make a transaction whether we are going to exchange it out local fiat or whatsoever and I know that this is the disadvantage of what is going to happen in the near future but still the good thing is they do not have the rights to manipulate bitcoin .
This is really interesting, we are now moving forward to our continuing development of the economy. So I am excited to have our own Bitcoin ATM here in our country. This is a great news ahead of us especially to those who are already involved in BTC and also for those who are still curious, I hope they can now understand and accepts bitcoin as a currency.
We already have our own Bitcoin ATM somewhere in Makati. It was available since last two years as far as I know. I don't know if it is still functional since I have not even went where it is to see it for myself. And in my opinion there is nothing to get excited about this news. This only means that the exchanges will function like a bank where they need our identities and proof of identities to be able to make a transaction especially converting Bitcoin to local fiat. And worst, the possibility of imposing tax to all exchange transaction is inevitable.
This is really interesting, we are now moving forward to our continuing development of the economy. So I am excited to have our own Bitcoin ATM here in our country. This is a great news ahead of us especially to those who are already involved in BTC and also for those who are still curious, I hope they can now understand and accepts bitcoin as a currency.
We already have our own Bitcoin ATM somewhere in Makati. It was available since last two years as far as I know. I don't know if it is still functional since I have not even went where it is to see it for myself. And in my opinion there is nothing to get excited about this news. This only means that the exchanges will function like a bank where they need our identities and proof of identities to be able to make a transaction especially converting Bitcoin to local fiat. And worst, the possibility of imposing tax to all exchange transaction is inevitable.
This is really interesting, we are now moving forward to our continuing development of the economy. So I am excited to have our own Bitcoin ATM here in our country. This is a great news ahead of us especially to those who are already involved in BTC and also for those who are still curious, I hope they can now understand and accepts bitcoin as a currency.
We already have our own Bitcoin ATM somewhere in Makati. It was available since last two years as far as I know. I don't know if it is still functional since I have not even went where it is to see it for myself. And in my opinion there is nothing to get excited about this news. This only means that the exchanges will function like a bank where they need our identities and proof of identities to be able to make a transaction especially converting Bitcoin to local fiat. And worst, the possibility of imposing tax to all exchange transaction is inevitable.
I saw the news too on google and it is really something great for us, bitcoin users because it can be the first step for bitcoin to get worldwide recognition because bitcoin would spread way more than how it is doing right now if the countries officially start accepting it as a payment method in their wide areas. Congrats to the people of Philippine and hoping to see more of this in future.
Jump to: