The Philippines has an excellent on/off ramp to Bitcoin and Fiat called coins.ph. Users can buy/sell bitcoin as well as transfer exact amounts of Philippine Pesos for no fee or danger of chargeback. As such, Bitcoin opens the possibility of Ecommerce and eliminates the current (very real) credit card fraud. The zero fee also makes it a better option than PayPal and banks which are terrible in the Philippines. Banks charge a fee for just about everything and can close your account for any reason. They also have horrendous queues at peak times with ridiculous waiting times. By comparison, coins.ph can be funded at any pawn shop or 7/11 grocery store. Mobile phone load for all networks can be bought instantly directly on coins.ph. Overseas workers can also send micro payments of money easily to their relatives where banks make this hardly cost effective.
In short.... the banks in the Philippines suck and coins.ph is better than a bank.
Edit: I forgot to mention that they also have zero fee withdrawal to a bank and zero fee cardless ATM withdrawals (basically a gift card via ATM... enter a 16 digit code to withdraw at Security Bank ATMs)
Topic: Why people from 3rd countries are crazy about getting cryptos? - page 3. (Read 1238 times)
December 02, 2017, 05:10:47 AM
December 02, 2017, 04:59:01 AM
I think one of the main reasons that these 3rd world countries are investing so heavily into BTC is because of their value in currency. Bitcoin's value surpasses the currency value of their own country and with a weak government, they turn to BTC.
This of course is only my thought, and you may think I'm spilling bullshit. But almost everyone that invests in BTC right is in hopes that it will generate a 100x return and make them rich in the near future.
This of course is only my thought, and you may think I'm spilling bullshit. But almost everyone that invests in BTC right is in hopes that it will generate a 100x return and make them rich in the near future.
Lol! what are you babbling about? Bitcoin is already worth 11000 dollars! It has kicked the dollar in its ass already. So how come it won't be worth more than their local currency? Also *weak Government has nothing to do with it.
As for your second part, i disagree. People are not investing in bitcoin because it will make them rich, instead they are investing in bitcoin because it is the currency of future.
December 02, 2017, 04:33:48 AM
I don't think you assessments is right and you were not truth in what you are saying as some developed countries are also looking for money even more than those from third world countries. China is a developed countries and it citizens hold over 40% of all the coins in circulation. American citizen are many on this forum more than any other country and all of us here including you are here for the opportunity bitcoin gives.
actually what it's a truth but not all of them,
also china is not a developed country,if you ever learned about global economy you will understand that they're a king or leader in global economy,
which mean they can not be considered as 3rd country but instead they're the 1st country,many country following their footstep in economy system.
in the surface we're seeing a lot of 3rd countries people and asians hyping it like a crazy,
but bear it in your mind,they can not do a shit if there're noone behind them or basically peoples from the 1st country feeding them with their money.
many people from 3rd country tried to change their real life by joining and hyping it,
that is why we saw a lot of thing like that for couple years.
lastly i think it would be best for you guys to KEEP it secret and do not mention some countries because it will only bring us a fight between one and another,i believe the mod will never allow such a thing or this thread will be deleted in the future.
December 02, 2017, 03:22:11 AM
I don't think you assessments is right and you were not truth in what you are saying as some developed countries are also looking for money even more than those from third world countries. China is a developed countries and it citizens hold over 40% of all the coins in circulation. American citizen are many on this forum more than any other country and all of us here including you are here for the opportunity bitcoin gives.
December 02, 2017, 03:15:57 AM
With the currency cost of a transaction ($5?), how could someone in a third world country use bitcoin? I think it's all fake or that's where some tor nodes are.
They don't pay the fees on their signature campaign payouts. And a lot of e.g. Filipinos just use their Coins.ph account (web wallet/exchange) to receive coins. If they want to transfer to other Coins.ph users, it's free. Otherwise, they might just want to dump their BTC on the exchange. In that case, no transaction fees, just standard trading commissions.
Google says the median salary in the Philippines is ~$7,660 per year (2014). With one Hero account, at the current BTC valuation, one could earn double the median salary. I'm sure some have multiple accounts, given the state of the forum....
December 02, 2017, 12:37:18 AM
With the currency cost of a transaction ($5?), how could someone in a third world country use bitcoin? I think it's all fake or that's where some tor nodes are.
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December 02, 2017, 12:34:12 AM
It is very simple. They are seeing in bitcoin a way out of poverty.
I don’t see anything wrong with that. The problem is the level of spam in this forum. But they are not the only ones to be blamed for that. The owner of this forum doesn’t seem willing to apply measures to deal with it, apart from the current ones: people report, and moderators delete posts and ban people. Some campaign managers have also to do with it: if they were only paying for constructive posts, written in decent English, the level of spam would be reduced drastically.
I don’t see anything wrong with that. The problem is the level of spam in this forum. But they are not the only ones to be blamed for that. The owner of this forum doesn’t seem willing to apply measures to deal with it, apart from the current ones: people report, and moderators delete posts and ban people. Some campaign managers have also to do with it: if they were only paying for constructive posts, written in decent English, the level of spam would be reduced drastically.
December 02, 2017, 12:15:34 AM
This is a serious problem, i dont have anything about those people, because it is not their fault to be borned in there.
But i have noticed that they all are just doing the same, introduce themselves into cryptos in order to have a better future.
Why you all are looking for the same? i mean, most of you are hoping to be millionaires and you are the first reason of why bitcoin has been so hyped lately.
Probably 1,5/3 of total forum population is from Philippines and Indonesia, and those are the majority in here, and you all are hyping bitcoin as hell.
Is there a reason to be buying bitcoins like crazy people? Or just trying to get them at any cost? Please, give me some explanations, maybe i am missing something.
This is not a racist thread, i just want to know more about your situation.
But i have noticed that they all are just doing the same, introduce themselves into cryptos in order to have a better future.
Why you all are looking for the same? i mean, most of you are hoping to be millionaires and you are the first reason of why bitcoin has been so hyped lately.
Probably 1,5/3 of total forum population is from Philippines and Indonesia, and those are the majority in here, and you all are hyping bitcoin as hell.
Is there a reason to be buying bitcoins like crazy people? Or just trying to get them at any cost? Please, give me some explanations, maybe i am missing something.
This is not a racist thread, i just want to know more about your situation.
It's simply because they are earning while at home or in streets. Most people in the Philippines and Indonesia are jobless , so instead of playing games and engaging in social media (at least here they can use their fb and twitter to earn) in their mobile phones they'd rather use their time earning while sitting. That is why we have so many Filipinos here and Indonesians.
December 01, 2017, 11:27:54 PM
Quote
This is a serious problem, i dont have anything about those people, because it is not their fault to be borned in there.
I dont see any problem here and for sure this thread will be a racist one.
Quote
But i have noticed that they all are just doing the same, introduce themselves into cryptos in order to have a better future.
Doesnt everyone in crypto including me and you want to have a better future, lets not single out 3rd world countries.
Quote
Why you all are looking for the same? i mean, most of you are hoping to be millionaires and you are the first reason of why bitcoin has been so hyped lately.
Again everyone who is connected to crypto currency want to make money and be a millionaire someday dont be a hypocrite.
Quote
Probably 1,5/3 of total forum population is from Philippines and Indonesia, and those are the majority in here, and you all are hyping bitcoin as hell.
Racist, what ever they say it wont affect the market value of bitcoin, let them hype and say what ever they want about bitcoin as long as its not spammy.
Quote
Is there a reason to be buying bitcoins like crazy people? Or just trying to get them at any cost? Please, give me some explanations, maybe i am missing something.
Yes you are missing a lot, try look widely at the situation and rephrase your question, its not just 3rd world countries everyone who is new to bitcoin or crypto currency are doing the same thing.
This is not a racist thread, i just want to know more about your situation.
December 01, 2017, 10:39:12 PM
This is a serious problem, i dont have anything about those people, because it is not their fault to be borned in there.
But i have noticed that they all are just doing the same, introduce themselves into cryptos in order to have a better future.
Why you all are looking for the same? i mean, most of you are hoping to be millionaires and you are the first reason of why bitcoin has been so hyped lately.
Probably 1,5/3 of total forum population is from Philippines and Indonesia, and those are the majority in here, and you all are hyping bitcoin as hell.
Is there a reason to be buying bitcoins like crazy people? Or just trying to get them at any cost? Please, give me some explanations, maybe i am missing something.
This is not a racist thread, i just want to know more about your situation.
But i have noticed that they all are just doing the same, introduce themselves into cryptos in order to have a better future.
Why you all are looking for the same? i mean, most of you are hoping to be millionaires and you are the first reason of why bitcoin has been so hyped lately.
Probably 1,5/3 of total forum population is from Philippines and Indonesia, and those are the majority in here, and you all are hyping bitcoin as hell.
Is there a reason to be buying bitcoins like crazy people? Or just trying to get them at any cost? Please, give me some explanations, maybe i am missing something.
This is not a racist thread, i just want to know more about your situation.
I understand that you don't mean to seem like a racist at this post but mind you, maybe what you have observed to them is just an impression. I know someone who comes from the third world and he is very dedicated in investing for his bitcoin account and knows a lot about it. The bottom line here is that, a third world country stays to its level not just because of the people but because of the government, its location maybe and many other factors.
December 01, 2017, 10:32:40 PM
I'm from the Philippines myself. Yep 3rd world.
The fast gains Btc provided this year indeed attracts allot of people-with majority suffering from unemployment or poor wages. Bitcoin is acting like a get rich scheme, but we all know how volatile Bitcoin is, crypto is more complex than that.
I admit when you're desperate, you tend to jump into things without understanding them first. Especially if these things involve less work and fast profits.
The fast gains Btc provided this year indeed attracts allot of people-with majority suffering from unemployment or poor wages. Bitcoin is acting like a get rich scheme, but we all know how volatile Bitcoin is, crypto is more complex than that.
I admit when you're desperate, you tend to jump into things without understanding them first. Especially if these things involve less work and fast profits.
This is mainly the reason. Wages are really low in the Philippines and Filipinos have been looking for ways to earn extra or get better jobs just to sustain their families (i.e. work abroad, become an overseas Filipino worker) and somehow, bitcoin has provided them with extra money or sideline income through signature campaigns. Because of this, a lot of Filipinos engaged into joining this forum with only the sole aim to earn through signature campaigns even without knowing about bitcoin entirely. Out of desperation, it has made them "go crazy over bitcoin".
I can't but deny that there are a lot of users in this forum who are like that. However, their financial situation in the Philippines and circumstance has made them this way. With the hopes of earning more, or to even just sustain their family, this has created the "hype" in third world countries such as the Philippines.
December 01, 2017, 10:23:39 PM
I think one of the main reasons that these 3rd world countries are investing so heavily into BTC is because of their value in currency. Bitcoin's value surpasses the currency value of their own country and with a weak government, they turn to BTC.
This of course is only my thought, and you may think I'm spilling bullshit. But almost everyone that invests in BTC right is in hopes that it will generate a 100x return and make them rich in the near future.
This of course is only my thought, and you may think I'm spilling bullshit. But almost everyone that invests in BTC right is in hopes that it will generate a 100x return and make them rich in the near future.
December 01, 2017, 10:20:31 PM
Quote
My problem is not with politics, countries, or what nationality someone is. It's with people's ability to communicate and their motivations for being members of bitcointalk. It's with shitposters in general. It just so happens that a majority of them come from Asia (non-English speaking countries) and they're decreasing the signal to signal ratio to a near-infinitesimal value.
Ah. Well most of us join bitcointalk primarily for the sig campaign lol word of mouth! I did at first, but eventually learned about trading / hodling etc.
I admit that it was beyond me at one point that I too could have potentially spammed bitcointalk with ridiculous topics and one liners just to UP my activity. I guess I wasn't willing to educate myself in crypto to give actual contribution in the forums? Maybe I didn't care about the community, and focused only on how to earn using this forum? I guess I didn't know any better? ...but soon found out that wasn't an excuse.
The prospect of a sig campaign as an easy "sideline" had blinded me to the fact that shtposts contribute to lowering the credibility of bitcointalk. I think what allot of us lack is not smarts or know hows.... but willingness to follow policies in the forum.
December 01, 2017, 09:56:19 PM
the lack of opportunities, political corruption, shitty economy and social injustices all make people desperate. in crypto we're all in the same playing field and the gains made from cryptocurrencies may seem small but they are life changing for people from the third world countries.
December 01, 2017, 09:41:36 PM
This is a serious problem, i dont have anything about those people, because it is not their fault to be borned in there.
But i have noticed that they all are just doing the same, introduce themselves into cryptos in order to have a better future.
Why you all are looking for the same? i mean, most of you are hoping to be millionaires and you are the first reason of why bitcoin has been so hyped lately.
Probably 1,5/3 of total forum population is from Philippines and Indonesia, and those are the majority in here, and you all are hyping bitcoin as hell.
Is there a reason to be buying bitcoins like crazy people? Or just trying to get them at any cost? Please, give me some explanations, maybe i am missing something.
This is not a racist thread, i just want to know more about your situation.
But i have noticed that they all are just doing the same, introduce themselves into cryptos in order to have a better future.
Why you all are looking for the same? i mean, most of you are hoping to be millionaires and you are the first reason of why bitcoin has been so hyped lately.
Probably 1,5/3 of total forum population is from Philippines and Indonesia, and those are the majority in here, and you all are hyping bitcoin as hell.
Is there a reason to be buying bitcoins like crazy people? Or just trying to get them at any cost? Please, give me some explanations, maybe i am missing something.
This is not a racist thread, i just want to know more about your situation.
I see that you have made it pretty clear that you don't intend for this to be a racist post, which I and I'm sure many others appreciate a lot. Thanks for that!
I think the reason for seeing people from third world countries is that bitcoin can have a much larger lasting impact on them rather than us in first world countries. In general, things in third world countries are cheaper as is the cost of living when compared to large areas in first world countries.
December 01, 2017, 09:41:14 PM
I have no problem with where they live (thousands of miles away from me, thankfully) or what they do for a living. The problem I have is that most of the ones I see on bitcointalk contribute absolutely ZERO to any conversations. Why? Because they're so desperate to make their required number of posts for their sig campaigns, and the campaigns have absolutely no quality control. They post the same phrases and sentiments about bitcoin over and over, and it's maddening. So I wish they would stick to the local board that most suits their language skills. Me, if the first 3 words of a sentence aren't in the proper order and I cannot understand where the post is going, I just skip it. Most of the posts I skip come from foreign posters. Asia, and the Phippines in particular, is the main culprit. And I'd say Russia is up there, too.
I can see your point.
I wish my brothers and sisters would simply look at the bigger picture, and not just obssess over their post count and not "how to be jr. Member?" Or "how to join sig campaign?".
Allot of us Filipinos,( not everyone of course!) have a spoon fed mentallity. I know this since I'm still struggling to break out of it. It probably stems from our tradition of living together in hard times, and thinking that being alone and self-sustaining in life is a prospect only for those who are lucky or already rich.
But it should go without saying that this could fit with anyone- not just east asians or whatever race. The tendency just sticks with 3rd world countries.
Just my probably faulty observation, please dont take my word as absolute.
December 01, 2017, 09:30:01 PM
I have no problem with where they live (thousands of miles away from me, thankfully) or what they do for a living. The problem I have is that most of the ones I see on bitcointalk contribute absolutely ZERO to any conversations. Why? Because they're so desperate to make their required number of posts for their sig campaigns, and the campaigns have absolutely no quality control. They post the same phrases and sentiments about bitcoin over and over, and it's maddening. So I wish they would stick to the local board that most suits their language skills. Me, if the first 3 words of a sentence aren't in the proper order and I cannot understand where the post is going, I just skip it. Most of the posts I skip come from foreign posters. Asia, and the Phippines in particular, is the main culprit. And I'd say Russia is up there, too.
I can see your point.
I wish my brothers and sisters would simply look at the bigger picture, and not just obssess over their post count and not "how to be jr. Member?" Or "how to join sig campaign?".
Allot of us Filipinos,( not everyone of course!) have a spoon fed mentallity. I know this since I'm still struggling to break out of it. It probably stems from our tradition of living together in hard times, and thinking that being alone and self-sustaining in life is a prospect only for those who are lucky or already rich.
But it should go without saying that this could fit with anyone- not just east asians or whatever race. The tendency just sticks with 3rd world countries.
Just my probably faulty observation, please dont take my word as absolute.
December 01, 2017, 09:05:03 PM
I agree with you at some point.
Imagine you hear about bitcoin on media and decide to make some research on the web to know more about it. You surely find about bitcointalk as it comes a lot in the SERP for some queries. Then you say "oh bitcoin has a forum, great! let me read"
After 1 hour you figure most of them are always telling bitcoin=moon! bitcoin will be $50k in 2 weeks hold, buy buy buy! Rich soon!
You also figure that most of them are under 18, housewife, don't give a fuck to bitcoin, but just want free money. you see that they making no sense posts, with the same question popping every day. Telling to people to buy bitcoin but never do themselves, why should they, they don't care about crypto. They just love rehashing the same question and answer all day long
I tell you this, it's not about racism, I tell you it because I have a friend who didn't know about bitcoin he ended here and started to read, the next day he told me "bitcoin is just for children in sandbox so they can buy video games, i don't want to look more about it"
But since you are making that comments and the example already appeared at the bottom of this thread. Imagine you hear about bitcoin on media and decide to make some research on the web to know more about it. You surely find about bitcointalk as it comes a lot in the SERP for some queries. Then you say "oh bitcoin has a forum, great! let me read"
After 1 hour you figure most of them are always telling bitcoin=moon! bitcoin will be $50k in 2 weeks hold, buy buy buy! Rich soon!
You also figure that most of them are under 18, housewife, don't give a fuck to bitcoin, but just want free money. you see that they making no sense posts, with the same question popping every day. Telling to people to buy bitcoin but never do themselves, why should they, they don't care about crypto. They just love rehashing the same question and answer all day long
I tell you this, it's not about racism, I tell you it because I have a friend who didn't know about bitcoin he ended here and started to read, the next day he told me "bitcoin is just for children in sandbox so they can buy video games, i don't want to look more about it"
At the time that the bitcoin was worth nothing, and a lot of people don't care about that.
A lot of the people from 3rd country needs the bitcoin.
That was not caused by they needed to buy it. They have required the bitcoin for free.
The 3rd will not give a lot of the support to the bitcoin caused by the economy was less than the developed country.
I'm from the Philippines myself. Yep 3rd world.
The fast gains Btc provided this year indeed attracts allot of people-with majority suffering from unemployment or poor wages. Bitcoin is acting like a get rich scheme, but we all know how volatile Bitcoin is, crypto is more complex than that.
I admit when you're desperate, you tend to jump into things without understanding them first. Especially if these things involve less work and fast profits.
The fast gains Btc provided this year indeed attracts allot of people-with majority suffering from unemployment or poor wages. Bitcoin is acting like a get rich scheme, but we all know how volatile Bitcoin is, crypto is more complex than that.
I admit when you're desperate, you tend to jump into things without understanding them first. Especially if these things involve less work and fast profits.
December 01, 2017, 08:55:08 PM
I'm from the Philippines myself. Yep 3rd world.
The fast gains Btc provided this year indeed attracts allot of people-with majority suffering from unemployment or poor wages. Bitcoin is acting like a get rich scheme, but we all know how volatile Bitcoin is, crypto is more complex than that.
I admit when you're desperate, you tend to jump into things without understanding them first. Especially if these things involve less work and fast profits.
The fast gains Btc provided this year indeed attracts allot of people-with majority suffering from unemployment or poor wages. Bitcoin is acting like a get rich scheme, but we all know how volatile Bitcoin is, crypto is more complex than that.
I admit when you're desperate, you tend to jump into things without understanding them first. Especially if these things involve less work and fast profits.
December 01, 2017, 08:47:35 PM
I have no problem with where they live (thousands of miles away from me, thankfully) or what they do for a living. The problem I have is that most of the ones I see on bitcointalk contribute absolutely ZERO to any conversations. Why? Because they're so desperate to make their required number of posts for their sig campaigns, and the campaigns have absolutely no quality control. They post the same phrases and sentiments about bitcoin over and over, and it's maddening. So I wish they would stick to the local board that most suits their language skills. Me, if the first 3 words of a sentence aren't in the proper order and I cannot understand where the post is going, I just skip it. Most of the posts I skip come from foreign posters. Asia, and the Phippines in particular, is the main culprit. And I'd say Russia is up there, too.
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