Topic: Central of the Philippines Recognizes Bitcoin - page 4. (Read 9023 times)
This is good news for us Filipinos but does it also mean the government will impose taxes or fees for earning and using bitcoins?
It is awesome because it seems that the Asian countries are slowly getting into bitcoin and Philippines which is one of the richest country in terms of the natural resources also recognizes bitcoin and i hope that they will follow what the Japan did in bitcoin which they already accepted and implement it to their country and a lot of people are now getting great benefits with bitcoin.
Now that Bitcoin has been recognized by the Central Bank of the Philippines, I just hope that there will be progress soon. For instance, new areas of services where we can use it for exchange or Bitcoin to be accepeted as form of payment. That is really something to look forward as it is really a revolutionary step to start.
Normally, whenever government shows their interest in something and it surely gives the citizens even more benefit, it would create awareness for the product (bitcoin as a currency in this case). This is a welcome development and I so much believe it would bring so much great level of usage of the currency in the country and hopefully we start seeing merchants and shops seeing a reason to start accepting it soon, maybe after the scaling issue have been resolved.
I've just heard this news recently and this is a great news for all bitcoin holder residing in philippines. I think Philippines recognize the bitcoin as a payment system mainly because they considered the growing number of OFW's that sends money through remittance centers and by recognizing bitcoin it can help ease the way of OFW to send money since it has a peer to peer system which is really good thing to have.
Now that Bitcoin has been recognized by the Central Bank of the Philippines, I just hope that there will be progress soon. For instance, new areas of services where we can use it for exchange or Bitcoin to be accepeted as form of payment. That is really something to look forward as it is really a revolutionary step to start.
Normally, whenever government shows their interest in something and it surely gives the citizens even more benefit, it would create awareness for the product (bitcoin as a currency in this case). This is a welcome development and I so much believe it would bring so much great level of usage of the currency in the country and hopefully we start seeing merchants and shops seeing a reason to start accepting it soon, maybe after the scaling issue have been resolved.
i'm from Philippines, and i'm happy to here that news. and i'm happy to know that there's a lot of filipino here in this thread. and i hope someday 50 to 70 % of the filipino can earn extra income by using bitcoin.. 
Now that Bitcoin has been recognized by the Central Bank of the Philippines, I just hope that there will be progress soon. For instance, new areas of services where we can use it for exchange or Bitcoin to be accepeted as form of payment. That is really something to look forward as it is really a revolutionary step to start.
Normally, whenever government shows their interest in something and it surely gives the citizens even more benefit, it would create awareness for the product (bitcoin as a currency in this case). This is a welcome development and I so much believe it would bring so much great level of usage of the currency in the country and hopefully we start seeing merchants and shops seeing a reason to start accepting it soon, maybe after the scaling issue have been resolved. 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.
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 is a great news to the filipinos who are known bitcoin in the country. They can easily manage their bitcoin in the bank and we can easily invest money to the bank to bitcoin. I hope it will implented as soon as possible because it is not totally approve by the government that i expected. I imagine if the bank of thr philippines make bitcoin money and it been use to buy to stores and mall. Our economy will be high and our country fix the financial problems face of my country.
Wow. I think it will change many lives in the Phillipines since the USD is volatile these days and bitcoin can be transferred without a bank. I hope this will help the poor in the country.
We cannot say categorically that it would help all the poor people of the country. The rich will still end up benefit the most. We all know that poverty has categories and there are some level of poverty that makes those in question not to even have access to such information or even have any means to earn it.On the other hand, for those who learned, struggling to survive and having some information and opportunity to earn or start something for them without currency barrier for international trade, then it would be a great opportunity.
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.
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.
This is an honor for me because I am from the Philippines as well. Certainly big changes will be realized and many Filipinos will lose their poverty and become financially independent. Finally freedom is ours to enjoy.
Aside these, stages like this is the best, for the poor ones who have the information and are willing to make good use of it which still balls down to the learned and informed ones.
It is a good thing to know that our country recognizes usage of bitcoin and we know it is safe because government the government supports it. Sad thing is not all people here are not using bitcoin and there are are few people know about this. If fellow Filipinos are sharing this to others then it is good for us and many will see the benefits of using bitcoin. We just need to introduce it to the people clearly.
Even though they still don't recognize bitcoin as a true currency because the Central Bank didn't say so. It is still good to know that our Central Bank of the Philippines is now accepting bitcoin as a way of payment. And I hope one day they accept other crypto currency like altcoins so we don't have to convert it to bitcoin before we really use it. And after they implement this in February I think many things will change here in the Philippines about bitcoin and how the pinoys thinks about it.
This is a good news from BSP, it really has a positive impact on local economy, how much more if more and more people starts using Bitcoin as a part of payment system. I just hope it could not be used for terrorist activities in the country.
While on the other hand mainstream media started to talk about Bitcoin scams, this bias way of reporting ruined the reputation of bitcoin. It doesnt matter anyway when BSP itself speaks how legitimate Bitcoin can improve our economy.
While on the other hand mainstream media started to talk about Bitcoin scams, this bias way of reporting ruined the reputation of bitcoin. It doesnt matter anyway when BSP itself speaks how legitimate Bitcoin can improve our economy.
Well this is shocking news to me. This is a good thing for us here in the Philippines. I hope soon there would be many more companies accepting crypto currency for business. Right now bitcoin is the only recognized crypto currency. The only way for us here to liquidate crypto currencies like altcoins and others is to convert it to bitcoins first through bittrex or other exchanges. I hope soon ETH and other alt coins would be generally accepted here in business and trade. Good things are coming.
the fight now be between Philippines and Chinese to be leader of bitcoin users (many users here is Philippines or Chinese )
not know why Philippines use bitcoin but i think rules in that country allow to use it acd exchange it so they now effect in bitcoin price
not know why Philippines use bitcoin but i think rules in that country allow to use it acd exchange it so they now effect in bitcoin price
I have heard about the issue but not fully familiar about it. Little I know about this is that Central Bank of the Philippines (BSP) is encouraging business who accepts bitcoin as payment to be registered, central bank wanted to regulate the exchange in btc transaction but not the btc issuance per se. As long as there is conversion that happen from btc to fiat or vice versa then that would be the one that will fall w/in the ambit of BSP. But when when the scenario is a btc user holding their btc in their wallet (no conversion took place) the BSP can't take control of it. I think BSP is doing this to have a reliable and safe transaction and also to prevent money laundering and other policies related to that. I think for a country to recognize btc transaction is a good sign. Keeping up with the current trend and development happening in cyber world is a sign of a developing country. I just hope those in position will not abuse and take advantage of the scenario.
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.
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.
This is an honor for me because I am from the Philippines as well. Certainly big changes will be realized and many Filipinos will lose their poverty and become financially independent. Finally freedom is ours to enjoy.
Aside these, stages like this is the best, for the poor ones who have the information and are willing to make good use of it which still balls down to the learned and informed ones.
Bitcoin being recognized by the Bangko Central will also open doors for our Overseas Contract Workers to invest their hard earned money and earn additional income. At the same time, Bitcoin currency can be accepted as a form of remittance from different countries which is also good for our country as well. This is really an awesome news.
I think it will be more accepted as a payment system where they can use for remittances but not as an investment. Majority of the filipino still do not understand about bitcoin and our media is not showing the positive side of bitcoin, it will take time before they can understand and that will only happen when bitcoin are rampantly use in big countries and our government will support it.
I'm a Filipino also, I tried to pay bitcoin on "Bayad Center" for my bill on my Smart plan and it was accepted. I was amazed and think that Philippines now recognized bitcoin.
Some news from the TV about it.
But sadly some/few Filipinos know the benefits and value of it.
Some news from the TV about it.
But sadly some/few Filipinos know the benefits and value of it.
Yes, actually Cryptocurrency exchanges are now regulated by Central Bank of the Philippines for the benefits of the Filipinos. Most Filipino in other countries send money to remittances and banks but as the technology grows we have bitcoin now to send money to our loves ones
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