SAUDI Bitcoin Trading on LocalBitcoins TO THE MOON - page 4.

legendary

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Quote from: peter0425 on April 19, 2017, 02:43:49 PM

They have so much wealth that they don't know where to invest their money. Yeah, let see how it goes, if those rich prince or sheikh decided to invest in bitcoin then good for the bitcoin ecosystem. Otherwise, bitcoin is already doing fine as of the moment but if Middle East want's to join the fun, the better for us.

but i wonder what proportion of saudis have real money. you got the governing class of course who are crazy rich. i kind of get the impression everyone else is sitting around doing nothing being given oil money, but maybe not a great deal of it.

peter0425

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Quote from: Homunculah on April 19, 2017, 12:01:32 PM

Quote from: Denker on April 19, 2017, 11:48:28 AM

Well ~$110k isn't that much. However the increase percentage wise is something.
Let's see how this will develop in the future. Maybe some sheikh will find Bitcoin interesting enough invest some serious millions. These guys have more than enough money to play with.

hope so, saudi have invested large enough in china, saudi moderate enough economic problems, we hope that saudi could be one bitcoin bridge to the Arab world

They have so much wealth that they don't know where to invest their money. Yeah, let see how it goes, if those rich prince or sheikh decided to invest in bitcoin then good for the bitcoin ecosystem. Otherwise, bitcoin is already doing fine as of the moment but if Middle East want's to join the fun, the better for us.

tosmartak

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Well, from the way things are presently in the middle east, it is obvious the popularity of cryptocurrency is increasing by the day even though, in the interim, the the current legal status of bitcoin in the UAE is still blurry. Early in January 2017, the UAE Central Bank published the “Regulatory Framework For Stored Values and Electronic Payment Systems which focused on facilitating robust adoption of digital payments across the UAE in a secure manner,” but thesame regulation contains a statement “D.7.3. Provisions for Virtual Currencies – All Virtual Currencies (and any transactions thereof) are prohibited”, which is a little bit causing concern among the cryptocurrency community in the UAE.
Nevertheless, I see a great future for cryptocurrency in the UAE.

aTriz

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Tontogether | Save Smart & Win Big

Quote from: shamzblueworld on April 19, 2017, 07:38:04 AM

With the governments as there are now and the conditions, bitcoin will definitely be quite popular in middle east. And subcontinental Asia too.

I think that would be a big advantage for countries that are not so developed yet, to implement bitcoin as a another way to make a payments.
It is a great opportunity, because even if the percent of population using bitcoin is really small, that still may give great returns, also thanks to the taxes.

But all of us need to admit, that paying taxes is something that many people dont do over where, they try to avoid it, because it is fairly easy with cryptocurrencies, however that is still against the law.
You should always consider paying taxes, as a help to your country, and a help for the nation. After all, some of this money go to health service, and to help the poor part of society.

QuestionAuthority

legendary

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You lead and I'll watch you walk away.

Too bad they're buying on LBC. That means they're not moving the price.

European Central Bank

legendary

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maybe bitcoin's future there is gonna depend on how the religious cranks view it.

https://cointelegraph.com/news/is-bitcoin-halal-how-cryptocurrency-conforms-with-islam-and-sharia

it's easy to forget their view of money and whether it's halal or not.

bartolo

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The countries on that area are investing and researching on blockchain technology, they are aware that oil won´t last forever and they are looking for a site in the forefront of new technologies, as an example the Dubai smart city project. Therefore, an increase in the popularity of bitcoin in the area would not be surprising.

yosakahina

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saudi is the gateway to the Arab world and has ambitions of being strong enough to strengthen their economies. bitcoin is the right choice for it. we all hope saudi officially legalize bitcoin

Homunculah

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Quote from: Denker on April 19, 2017, 11:48:28 AM

Well ~$110k isn't that much. However the increase percentage wise is something.
Let's see how this will develop in the future. Maybe some sheikh will find Bitcoin interesting enough invest some serious millions. These guys have more than enough money to play with.

hope so, saudi have invested large enough in china, saudi moderate enough economic problems, we hope that saudi could be one bitcoin bridge to the Arab world

Wesimon

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https://gexcrypto.io

Quote from: mynhpark on April 19, 2017, 07:30:47 AM

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Having high trading volume, there is no doubt that bitcoin will become popular in the middle east sooner or later. Though the amount was not yet that big, this indicates that Saudi Arabia is beginning to fully accept the bitcoin technology, and it will take only a matter of time for its fame to burst throughout the middle east.

Having these type of news is so promising. We can clearly see how bitcoin's popularity had become in the past years. It would seem that we hear news about bitcoin left and right mostly every week. I think that it will not take too long for bitcoin to become famous worldwide.

FlamingFingers

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Quote from: joshy23 on April 19, 2017, 11:30:28 AM

Quote from: mynhpark on April 19, 2017, 07:30:47 AM

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Middle East countries are already known for it riches. I don't know if the volumes are real, if real then the rich people have found a new way to play around with their money with the btc playground and investment. Although 100K USD is still small, I think it will grow more as Middle East will find btc as good investment instrument specially for the rich oil nations citizen.

Not all Middle Eastern countries are rich – the Arabian Gulf countries only are (including Saudi Arabia, Kuwait, Bahrain, Qatar, and United Arab Emirates). They got Millions of Dollars from Oil selling, and they can easily play with them in the bitcoin field.

And yes, Bitcoin is getting more popular in these regions, but I hope, wish and pray my country doesn't know about bitcoin, or at least ignore/neglect it — they will use it as a way to profit from its users Undecided

.

Denker

legendary

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Well ~$110k isn't that much. However the increase percentage wise is something.
Let's see how this will develop in the future. Maybe some sheikh will find Bitcoin interesting enough invest some serious millions. These guys have more than enough money to play with.

izanagi narukami

legendary

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If they interest on bitcoin as much as Chinese investor, I think it will bring more impact on bitcoin value ( mostly will increase significantly)
They have biggest market on the earth ( oil company ) and with huge $ cap, it's really great ! Looking foward to see it

joshy23

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Quote from: mynhpark on April 19, 2017, 07:30:47 AM

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Middle East countries are already known for it riches. I don't know if the volumes are real, if real then the rich people have found a new way to play around with their money with the btc playground and investment. Although 100K USD is still small, I think it will grow more as Middle East will find btc as good investment instrument specially for the rich oil nations citizen.

gribble

hero member

Activity: 966

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Quote from: mynhpark on April 19, 2017, 07:30:47 AM

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Of course yes, i agree with bitcoin become popular in middle east soon and it will not just on there
but bitcoin will become more popular around the world,
will many people who adopt bitcoin for payment transaction or just investments long time
because as we know bitcoin is like gold of course with other beneficial.

mindrust

legendary

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It seems they finally realized bitcoin is a better choice than gold when it comes to hide your money away from the shady governments.

Most of you already know Saudi's are the biggest fans of Gold and USD. (They like USD even more than Americans) Cool

This kind of interest in bitcoins won't make USA very happy. Be careful for another bitcoin FUD may be incoming. Cool

BitcoinHodler

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HODLing is an art, not just a word...

bitcoin adoption has been growing in many different countries and with every positive news it grows a small bit. and then there is always price of bitcoin and how good a long term investment bitcoin is.
and this is not limited to one country or one region, it is everywhere. and remember than most people in other countries like Saudi Arabia and middle east are not using localbitcoins so their volume is not even considered.

gentlemand

legendary

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Welt Am Draht

When LBC volumes explode in a new country the first thing I normally do is check whether MMM has started up there.

Golftech

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Quote from: Xester on April 19, 2017, 07:40:43 AM

Quote from: mynhpark on April 19, 2017, 07:30:47 AM

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Given the statistical data that you have mentioned it is a clear fact that bitcoin can really be famous in the middle east. Given the resources and money of the people from the middle east it is not a question on whether they can afford or not but on how much bitcoin are they planning to purchase. This oil rich countries have seen the value of bitcoin and will enlist bitcoin in their feasible investments.

giving them enough knowledge for sure they will adopt this system, oil and gold can be transact using bitcoin as they are really
rich with both venue lets see how this news will bring new momentum in the middle east.

Xester

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Activity: 994

Merit: 544

Quote from: mynhpark on April 19, 2017, 07:30:47 AM

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Given the statistical data that you have mentioned it is a clear fact that bitcoin can really be famous in the middle east. Given the resources and money of the people from the middle east it is not a question on whether they can afford or not but on how much bitcoin are they planning to purchase. This oil rich countries have seen the value of bitcoin and will enlist bitcoin in their feasible investments.

Topic: SAUDI Bitcoin Trading on LocalBitcoins TO THE MOON - page 4. (Read 3351 times)