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Bitcoin => Bitcoin Discussion => Topic started by: cheezcarls on September 20, 2022, 12:24:18 PM



Title: Bitcoin island in the Philippines?
Post by: cheezcarls on September 20, 2022, 12:24:18 PM
Source: https://coinpedia.org/crypto-live-news/cryptocurrency-wallet-provider-pouch-to-turn-philippines-resort-into-bitcoin-island/

When I saw this news for the first time coming from a crypto friend of mine, it was really mind blowing. The adoption of Bitcoin and cryptocurrencies in the Philippines has taken to a whole new level in which a Philippines resort may be turning into a “Bitcoin island” by a crypto wallet provider.

What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

Thanks in advance!


Title: Re: Bitcoin island in the Philippines?
Post by: BlockChainMentor on September 20, 2022, 12:49:21 PM
I think they will create a new world of bitcoin where all transactions will be by bitcoin ...In casino,in pool , in beach, everywhere no tension of carrying money in your pocket..nice one


Title: Re: Bitcoin island in the Philippines?
Post by: autumnleaf on September 20, 2022, 02:08:10 PM
Boracay draws tourists from many different nations as one of the top tourist spots. I want to see how this plays out, because I think this is a tremendous step toward the Philippines adopting Bitcoin and other cryptocurrencies, which might eventually elevate the country to the status of "Bitcoin Island."


Title: Re: Bitcoin island in the Philippines?
Post by: Wapfika on September 20, 2022, 02:18:41 PM
This is a big news because Boracay is the number tourist spot in the Philippines and most of them are foreigners around the globe which is a good promotion for Bitcoin to spread globally. I’m planning to do a vacation there soon and I hope that they will be offering discount to all Bitcoin payment because it’s still useless to accept Bitcoin if they will not give promo offers to attract people to use Bitcoin. I’m using traveloka app that gives me discount when I book using fiat so it will be waste to use Bitcoin if I can’t get any discount.


Title: Re: Bitcoin island in the Philippines?
Post by: mk4 on September 20, 2022, 02:42:59 PM
I'm currently in the Philippines and I haven't even heard of Pouch. With that said, seems like a decent wallet. I don't know how they can say "Ultimate Privacy" on their homepage while at the same time the wallet being custodial though.

https://i.imgur.com/FMmvDwQ.png

https://i.imgur.com/5BrGGR5.png


Title: Re: Bitcoin island in the Philippines?
Post by: arwin100 on September 20, 2022, 02:45:55 PM
Source: https://coinpedia.org/crypto-live-news/cryptocurrency-wallet-provider-pouch-to-turn-philippines-resort-into-bitcoin-island/

When I saw this news for the first time coming from a crypto friend of mine, it was really mind blowing. The adoption of Bitcoin and cryptocurrencies in the Philippines has taken to a whole new level in which a Philippines resort may be turning into a “Bitcoin island” by a crypto wallet provider.

What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

Thanks in advance!

For sure there's something huge brought by NFT and it awakes the curiosity of the people to participate then earn in the world of crypto. And for seeing this posted by media for sure this could create more noise to the government so that they will do something good on it terms of regulation.

For now this is good news but for sure BIR is now looking at this statistic and I will not get surprise if they came and ask about taxes on it.


Title: Re: Bitcoin island in the Philippines?
Post by: Yatsan on September 20, 2022, 02:56:58 PM
This is simply a resort which would accept cryptos or Bitcoin to be more specific, a mode of payment. Indeed a great contribution with crypto adaptation but people in PH are mostly unaware of what this blockchain, really is. There's still this image of it being a "fraud" due to instances wherein investors lost huge amount of money from investing into it. Also, there's no assurance yet whether this plan on the article would last for a long period of time because in the same country, there are establishments who once accepted such mode of payment but eventually chose to stop.

Quite unsurprising still, the days for this technology is still young and is still separated with stocks. Businesses who would use such payment method will have a hard time dealing with volatility and maintaining profit for their businesses given how fast market prices moves, especially during bearish market, wherein they will either be forced to just hold, or to 'stop before it get worse' situation. A matter of tolerance with this market's nature.


Title: Re: Bitcoin island in the Philippines?
Post by: cr1776 on September 20, 2022, 02:58:46 PM
The more people that use bitcoin the better.  Anyone who owns some bitcoin will be well served in times of economic turmoil so if this plan is successful, the people involved should be better protected later.  Will one small place change the world?  One never knows, the world is made up of small places with people who each want to be free.


Title: Re: Bitcoin island in the Philippines?
Post by: traderethereum on September 20, 2022, 04:17:58 PM
I think that is good news for bitcoin because the option of paying with it will make it easier for people who have bitcoins to make transactions.
This will open up opportunities for bitcoin to be more accepted by people and maybe they will never think that it is an option to transact other than using fiat or something else.
If they can implement well like what they want, cities around the Philippines will follow suit.
If it is also successfully implemented, more people will use bitcoin and feel the benefits.


Title: Re: Bitcoin island in the Philippines?
Post by: kryptqnick on September 20, 2022, 04:30:55 PM
I've just recently seen a list of countries ranked by Bitcoin adoption, and the Philippines were at the top of the list, so I'm not surprised with this news. I am a bit skeptical to the ideas of Bitcoin islands, though, as I've heard of several such projects in different countries, but not a single one that was actually successful. Of course, maybe it will be different in the Philippines, but I'm not sure. If it's going to be a luxurious resort, I doubt many citizens will actually be able to afford it.


Title: Re: Bitcoin island in the Philippines?
Post by: Leviathan.007 on September 20, 2022, 04:37:44 PM
I can feel this new world after bitcoin and especially recently during its adoption. The Philippines is not the first and it's not going to be the last country going through this because I see many other countries trying to step forward into bitcoin and they will start this by having a bitcoin island or a bitcoin city, regarding the Philippines as far as know there is much demand for bitcoin and cryptocurrencies there and people are from the government side there is the interest for accepting and using bitcoin, that's why it's not surprising to see this article about Philippines and bitcoin.


Title: Re: Bitcoin island in the Philippines?
Post by: YOSHIE on September 20, 2022, 04:56:11 PM
Would love to hearing some feedback, reactions or opinion from you all here.
If the Philippines is the first to make all services payable with digital currency like Bitcoin, I hope all the islands in the Philippines, especially tourist attractions can be made like Bitcoin Island, which they want to create now.

I once read in one of the news that tourists who come to the Philippines a lot, namely foreign tourists rather than local, even though I am not originally from the Philippines, but I understand some Filipino characters, maybe the idea of ​​adopting Bitcoin and making a small Bitcoin island in my opinion is a sporting and good act of all time, honestly I like to see the unique things that Bitcoin users do to the way Bitcoin works for the community.

An example that deserves support and motivation for what is being done in Filipino.


Title: Re: Bitcoin island in the Philippines?
Post by: tomos81 on September 20, 2022, 06:30:08 PM
Filipinos are very wary of Bitcoin or Cryptocurrency. E Philippines has been a huge response to Bitcoin since the past. The Philippines has big investors and legends. It's only natural that one's wallet can turn to Bitcoin because the Philippines has a lot more than a country full of e-investors from the past. and high officials and elders The people of the Philippines are in charge.


Title: Re: Bitcoin island in the Philippines?
Post by: bocyaj on September 20, 2022, 06:37:32 PM
It was happy to see all this adoption of bitcoin all over the world.Most of the crypto currency was accepted as the payment for the shops in many countries.I had read some thread,they had started the shop with the crypto currency payments.It Will increase the flow of the crypto currency in the market.People with less know,don’t inverse in the crypto currency,it’s their flaw and not all the people mistakes.


Title: Re: Bitcoin island in the Philippines?
Post by: Japinat on September 20, 2022, 07:20:02 PM
I've just recently seen a list of countries ranked by Bitcoin adoption, and the Philippines were at the top of the list, so I'm not surprised with this news. I am a bit skeptical to the ideas of Bitcoin islands, though, as I've heard of several such projects in different countries, but not a single one that was actually successful. Of course, maybe it will be different in the Philippines, but I'm not sure. If it's going to be a luxurious resort, I doubt many citizens will actually be able to afford it.
Yes, Philippines is just a small country but I'm quite positive that they aren't that left behind that's why they are even on the list when it comes to bitcoin adaptation and the same reason why I also think that there's already many Filipinos out there who are already in this forum and been observing the news about bitcoin in other parts of the world, Philippines is a great location and I think it's just waiting to be unlocked.

And about that Bitcoin Island, that's great if it's indeed true but I don't think that it will be located in Boracay because I've been there and it's quite pricey, so like you said, if it will be placed there, most of the people might not afford the place and what it has to offer.


Title: Re: Bitcoin island in the Philippines?
Post by: The Cryptovator on September 20, 2022, 07:43:37 PM
I heard from the Philippines is a crypto-friendly country. Once I was abroad there were Filipinos with me and discuss crypto. However, it's a good initiative, especially encouraging crypto users to visit their resort. Definitely, this is a real Bitcoin adaption. If it draws attention from people then more adaption would be happening there. Let's think positively and visit the resort whoever is nearby to share the real experience.


Title: Re: Bitcoin island in the Philippines?
Post by: rhomelmabini on September 21, 2022, 01:09:06 AM
Probably Pouch knows that Philippines is crypto-friendly but if I were to be asked it's more like on the grey area. Boracay has lot of foreign national visitors and it's no surprise thinking these folks around in the area would be interested in crypto or know about crypto.


Title: Re: Bitcoin island in the Philippines?
Post by: electronicash on September 21, 2022, 01:30:03 AM
I heard from the Philippines is a crypto-friendly country. Once I was abroad there were Filipinos with me and discuss crypto. However, it's a good initiative, especially encouraging crypto users to visit their resort. Definitely, this is a real Bitcoin adaption. If it draws attention from people then more adaption would be happening there. Let's think positively and visit the resort whoever is nearby to share the real experience.

most tourists who visits Philippines always include Boracay on their itinerary and owners of businesses in the island are often foreigners of this country also. if more of these tourist influences the local to adopt BTC, i don't see it not possible. i remember there was a blockchain event in the island years ago. so that might have influenced businesses and people in the island.

Pouch however is not widely known in the country, its coins.ph is the most popular wallet.


Title: Re: Bitcoin island in the Philippines?
Post by: peter0425 on September 21, 2022, 01:53:52 AM
I've just recently seen a list of countries ranked by Bitcoin adoption, and the Philippines were at the top of the list, so I'm not surprised with this news.
yeah , with Philippines being one of the ranking country in favoring bitcoin will surely provide more of this in the coming days .

and also this is not New as there are also some establishments that accepts and use bitcoin .

Quote
I am a bit skeptical to the ideas of Bitcoin islands, though, as I've heard of several such projects in different countries, but not a single one that was actually successful. Of course, maybe it will be different in the Philippines, but I'm not sure. If it's going to be a luxurious resort, I doubt many citizens will actually be able to afford it.
Well, the said place is actually a luxurious Island and one of the most popular tourist spot in the world, so calling it a Bitcoin Island for me is fair and better.


Title: Re: Bitcoin island in the Philippines?
Post by: Darker45 on September 21, 2022, 02:17:54 AM
If the news is true, then it is indeed a good thing that there are already around 120 businesses on the island that signed up to accept Bitcoin payment. So in terms of Bitcoin acceptance, that wouldn't be a problem at all. But in terms of whether there will be a significant Bitcoin payment turnout or an increase in revenue or tourists following this, it's something that's beyond their control.

However, I don't think it is easy or even possible to establish "a micro-economy running entirely on bitcoin." Boracay has been catering international and domestic travelers all year round. It isn't an isolated island where activities are very low. So, quite frankly, I doubt this would be feasible.

On another note, it feels good that Pouch is a lightning wallet. At least it could easily support small transactions on the island.


Title: Re: Bitcoin island in the Philippines?
Post by: 2stout on September 21, 2022, 05:14:20 AM
All of this is nice and good or at least it sounds so.  But I wonder how many of these islands/resorts/countries are Bitcoin True or Bitcoin Fairweather?  Are they all in when the next bear market hits or will they temporarily or permanently close shop for Bitcoin.


Title: Re: Bitcoin island in the Philippines?
Post by: Kakmakr on September 21, 2022, 05:38:32 AM
I have some Philippine friends and I spoke to them this morning via Skype and they said that wallet is not known to them, so I think this is a small startup company that are doing this for publicity.  ???

A lot of the Libertarian groups have tried to create islands and boats and floating islands with the same concept, but it failed. The governments get wind of someone trying to compete with their local Fiat currency ....and they simply shut it down with guns.  :P


Title: Re: Bitcoin island in the Philippines?
Post by: Darker45 on September 21, 2022, 05:54:38 AM
I have some Philippine friends and I spoke to them this morning via Skype and they said that wallet is not known to them, so I think this is a small startup company that are doing this for publicity.  ???

A lot of the Libertarian groups have tried to create islands and boats and floating islands with the same concept, but it failed. The governments get wind of someone trying to compete with their local Fiat currency ....and they simply shut it down with guns.  :P

I'm also from the Philippines and while I have heard of a number of crypto wallets being popularly used locally, this one I just encountered now. But I understand because, as per the articles, this was just founded in 2021 and the wallet itself is still in Beta. So the efforts here are clearly for the brand to at least gain recognition. But, again, creating an El Zonte on Boracay might not be easy.

Anyway, this is definitely not about a libertarian group attempting to create an independent island. For one, the island is very popular and is already home to many 5-star resorts. It is really difficult to transform it into something else.


Title: Re: Bitcoin island in the Philippines?
Post by: danherbias07 on September 21, 2022, 06:17:43 AM
Never heard of this news (until now) and even about Pouch. The most widely used here in our country if I am right is either Coins.ph or Binance with the power of p2p transactions.
Whoever Mill is (according to the article) he is not wrong about saving more money in remittances because I currently do it but there should be a note too about the volatility of Bitcoin.
Yes, they may have saved some money but there is also the risk of their Bitcoin value going down anytime. That's an important detail that should be put in.


Title: Re: Bitcoin island in the Philippines?
Post by: bakasabo on September 21, 2022, 07:23:37 AM
As I understand correctly, this "Bitcoin island" is just an area on Philippines, where only currency is Bitcoin? And it was stated that this was a resort place. How many of you, when spending time at the hotel on a vacation, spend a lot of money directly at the resort area? I think a lot of people prefer to make a payment at their own country, and enjoy all included services. Enjoy a place where you dont care much about paying for stuff, as everything is already prepaid. I see no real future of that resort Bitcoin island.

But if they want to make a free economic zone, zone with special services for crypto users, then El Salvador were first to create such benefits for crypto users, investors and etc, and so far they arent doing great.


Title: Re: Bitcoin island in the Philippines?
Post by: ajiz138 on September 21, 2022, 07:42:35 AM
If the news is true, then it is indeed a good thing that there are already around 120 businesses on the island that signed up to accept Bitcoin payment. So in terms of Bitcoin acceptance, that wouldn't be a problem at all. But in terms of whether there will be a significant Bitcoin payment turnout or an increase in revenue or tourists following this, it's something that's beyond their control.

However, I don't think it is easy or even possible to establish "a micro-economy running entirely on bitcoin." Boracay has been catering international and domestic travelers all year round. It isn't an isolated island where activities are very low. So, quite frankly, I doubt this would be feasible.

On another note, it feels good that Pouch is a lightning wallet. At least it could easily support small transactions on the island.
https://i.ibb.co/L0v08Yf/Fcwmwc-X0-AAD-hz.jpg
https://pouch.ph/bitcoinisland

This is a Map of Boracay Island where a lot of businesses have grown to accept bitcoin as a means of payment using Pouch as Lightning, I think it will continue to be significant in its improvement judging by this twitter https://twitter.com/BitcoinIslandPH micro merchants continue to show that they can pay Bitcoin which continues to be promoted on twitter to attract many tourists, especially foreigners.

Well maybe microeconomics will not be completely above bitcoin but some have accepted bitcoin from the lower to upper classes meaning Boracay Island will continue to develop what has become their goal to become a Bitcoin Island.


Title: Re: Bitcoin island in the Philippines?
Post by: bitzizzix on September 21, 2022, 09:55:13 AM
I haven't heard this news but Boracay is one of paradise city in Philippines, it's all about amazing islands, water sports activities, nightlife which fascinates many tourists come from all over the world especially from Europe to explore.
and besides its beautiful and exotic beaches, delicious food, there is one more thing that makes this location attractive to foreign tourists is because they can easily and cheaply get sexual gratification.
and if the news is true, boracay will become a bitcoin island, this is very good news and also a good place to make bitcoin a payment option in every way, because boracay is the best choice vacation place for foreign tourists especially from Europe, because for sure they know bitcoin and own it too.


Title: Re: Bitcoin island in the Philippines?
Post by: Ayers on September 21, 2022, 10:18:06 AM
It was happy to see all this adoption of bitcoin all over the world.Most of the crypto currency was accepted as the payment for the shops in many countries.I had read some thread,they had started the shop with the crypto currency payments.It Will increase the flow of the crypto currency in the market.People with less know,don’t inverse in the crypto currency,it’s their flaw and not all the people mistakes.

it's only a matter of time, mate. nothing can stop the strong flow of bitcoin
a few years ago bitcoin was still something very foreign, not many people were willing to listen to it, but since 2020 when the pandemic raged, the search term bitcoin has become more popular and since then bitcoin has become more popular than ever
nowadays, bitcoin is not so strange to everyone, even the elders in my hometown start hearing about bitcoin even though they still don't know how it works, this is something that surprised me quite a bit and i feel was right in choosing bitcoin as an investment for the future


Title: Re: Bitcoin island in the Philippines?
Post by: SFR10 on September 21, 2022, 03:40:46 PM
What are your thoughts about this one guys especially Filipinos here on this forum?
A part of me is hoping for it to be on the same trajectory as El Zonte, but that's me being over-optimistic for something that will probably go the other way.

it’s still useless to accept Bitcoin if they will not give promo offers to attract people to use Bitcoin.
You have a point but technically, they're still going to get fiat currency [by default], so most likely they're not going to try hard in persuading customers to pay with Bitcoin:


Businesses who would use such payment method will have a hard time dealing with volatility
Not if they opt for the fiat currency route [refer to the above quote].

As I understand correctly, this "Bitcoin island" is just an area on Philippines, where only currency is Bitcoin?
No, you still have the option of paying with other methods on that island.


Title: Re: Bitcoin island in the Philippines?
Post by: Asiska02 on September 21, 2022, 04:52:10 PM
The bitcoin community will always have hope when it hears news like this. Over time, more and more nations have come to see the value of using bitcoin as a means of transaction and savings. The gradual widespread acceptability of bitcoin continues to grow around the world, making its investors happier with their investment. Philippines have made a significant step, and I hope they fully grasp its advantages.


Title: Re: Bitcoin island in the Philippines?
Post by: freedomgo on September 21, 2022, 06:36:24 PM
Quote
I am a bit skeptical to the ideas of Bitcoin islands, though, as I've heard of several such projects in different countries, but not a single one that was actually successful. Of course, maybe it will be different in the Philippines, but I'm not sure. If it's going to be a luxurious resort, I doubt many citizens will actually be able to afford it.
Well, the said place is actually a luxurious Island and one of the most popular tourist spot in the world, so calling it a Bitcoin Island for me is fair and better.

We never know, Boracay Island or soon to be known as Bitcoin Island will be a successful project in the future that will be the 1st for the Philippines or anywhere in the world, for now they haven't launched it properly and it was stated that they are still trying to talk to the small-medium business owners to start collecting payments in the form of BTC.


Title: Re: Bitcoin island in the Philippines?
Post by: Jating on September 21, 2022, 09:54:48 PM
I guess this is similar to Bali Island in Indonesia if I'm not mistaken. I read that the island is taking bitcoin as payment because there are a lot of tourist in there. Unfortunately, there was a crackdown and we don't know what happened after that.

The Philippines though is very welcome to crypto, so I will say that this is good to hear that they are going to allow it in Boracay, another tourist destination for the country.


Title: Re: Bitcoin island in the Philippines?
Post by: dunfida on September 21, 2022, 09:56:00 PM
Source: https://coinpedia.org/crypto-live-news/cryptocurrency-wallet-provider-pouch-to-turn-philippines-resort-into-bitcoin-island/

When I saw this news for the first time coming from a crypto friend of mine, it was really mind blowing. The adoption of Bitcoin and cryptocurrencies in the Philippines has taken to a whole new level in which a Philippines resort may be turning into a “Bitcoin island” by a crypto wallet provider.

What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

Thanks in advance!
Anything that is related to recognition and adoption is always been a good thing or good news.Reading up on the link provided it is  been said about integrating micro-payments on 100+ small businesses around
on an island which does simply shows that they are really that too positive on what would be the outcome and affecting countries GDP as mentioned.It would really be a big convenience into those people
who had known bitcoin or crypto already and create out some buzz and curiosity into those people who do lurk around or come into that place which its impossible for it not to be noticed out.


Title: Re: Bitcoin island in the Philippines?
Post by: rdbase on September 24, 2022, 11:18:03 PM
All of this is nice and good or at least it sounds so.  But I wonder how many of these islands/resorts/countries are Bitcoin True or Bitcoin Fairweather?  Are they all in when the next bear market hits or will they temporarily or permanently close shop for Bitcoin.
This is what I currently thought of when I first heard this news.
It is possibly the worse time to announce a new endeavour to begin another bitcoin island.
If this term sounds familiar thats because it is!
Bitcoin island was created by an architecture firm from hong kong that is located on Vanuatu in the Coral sea.
https://i.ibb.co/Dwg2vcR/BTCIsland.jpg (https://imgbb.com/)
"A small, private island—32 million square feet, to be exact—in the middle of the South Pacific Ocean will soon become a crypto-haven. Formerly a mini portion of Vanuatu, the lush 800-acre spread of land has since been named Satoshi Island, after the pseudonymous developer of Bitcoin."
source: https://www.architecturaldigest.com/story/tropical-island-developing-worlds-first-bitcoin-economy


Title: Re: Bitcoin island in the Philippines?
Post by: Vaskiy on September 24, 2022, 11:58:54 PM
These are private Islands that are being developed for the rich to enjoy their holidays. Philippines being much into cryptocurrency, makes this news a big attraction. I see these moves make some spread about the word bitcoin. Someone reading this will try to understand what is bitcoin. This is how these adoptions help and nothing big, because these are attractive terms for the elite.


Title: Re: Bitcoin island in the Philippines?
Post by: GreatArkansas on September 25, 2022, 01:26:15 AM
All of this is nice and good or at least it sounds so.  But I wonder how many of these islands/resorts/countries are Bitcoin True or Bitcoin Fairweather?  Are they all in when the next bear market hits or will they temporarily or permanently close shop for Bitcoin.
This is what I currently thought of when I first heard this news.
It is possibly the worse time to announce a new endeavour to begin another bitcoin island.
If this term sounds familiar thats because it is!
(.....)
Exactly! For sure they are just using these kinds of phrases or ways to promote their project. There is already lof of cases like these, like "Bitcoin City, Bitcoin Country, etc."
That way seems they will lure people's attention, even just a headline on some articles.


Title: Re: Bitcoin island in the Philippines?
Post by: BRINIRHA on September 25, 2022, 03:48:32 AM
wow for me this is great news and warms my feelings. because in the source you included above I read in it that "about 120 large and small businesses in Boracay have so far signed up to allow users to make payments in BTC.". Isn't that evidence of a fairly positive response from large and small business owners there. they show good enthusiasm. And I'm sure it's not just in the Philippines. In other countries there are certainly many business owners who are enthusiastic about bitcoin payments but they just haven't found the opportunity to channel and realize their enthusiasm. because in some countries there are still many strict regulations related to bitcoin.


Title: Re: Bitcoin island in the Philippines?
Post by: jrrsparkles on September 25, 2022, 07:52:09 AM
Source: https://coinpedia.org/crypto-live-news/cryptocurrency-wallet-provider-pouch-to-turn-philippines-resort-into-bitcoin-island/

When I saw this news for the first time coming from a crypto friend of mine, it was really mind blowing. The adoption of Bitcoin and cryptocurrencies in the Philippines has taken to a whole new level in which a Philippines resort may be turning into a “Bitcoin island” by a crypto wallet provider.

What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

Thanks in advance!
Its actually a good news, this is about bringing the payment system between customer and merchant with lightning network. Even though we have questions about the wallet providers the news can be good for the cryptocurrency community. However what is the state of government for this decision, do they support or any restrictionn?


Title: Re: Bitcoin island in the Philippines?
Post by: Taskford on September 25, 2022, 09:48:31 AM
All of this is nice and good or at least it sounds so.  But I wonder how many of these islands/resorts/countries are Bitcoin True or Bitcoin Fairweather?  Are they all in when the next bear market hits or will they temporarily or permanently close shop for Bitcoin.
This is what I currently thought of when I first heard this news.
It is possibly the worse time to announce a new endeavour to begin another bitcoin island.
If this term sounds familiar thats because it is!
(.....)
Exactly! For sure they are just using these kinds of phrases or ways to promote their project. There is already lof of cases like these, like "Bitcoin City, Bitcoin Country, etc."
That way seems they will lure people's attention, even just a headline on some articles.

One of the reason why I don't believe on certain headlines because for sure this will be another form of click bait for people to read their article but as well maybe to promote their project. The government have final say about this and this kind of plan will remain plan if no government acceptance especially on local will accept this plan created by certain individual. So even if this is a good plan still people need to be careful since for sure more hypes coming from it might it can cost them financial loss so they need to be careful on anything they can read on imternet.


Title: Re: Bitcoin island in the Philippines?
Post by: Wapfika on September 25, 2022, 10:13:31 AM
Probably Pouch knows that Philippines is crypto-friendly but if I were to be asked it's more like on the grey area. Boracay has lot of foreign national visitors and it's no surprise thinking these folks around in the area would be interested in crypto or know about crypto.
It is not a big news in my country but indeed crypto is fast growing in our country. There are mobile crypto wallet that allows to easily pay bills, book resorts since it converts traded crypto into fiat easily. There are small business who accepts BTC now. If they will really built a resort in Boracay it can influence more tourist spots to accept and will make wide adoption even in tourist. Hopefully it will be managed and run well to make it possible.


Title: Re: Bitcoin island in the Philippines?
Post by: Coyster on September 25, 2022, 10:40:44 AM
All of this is nice and good or at least it sounds so.  But I wonder how many of these islands/resorts/countries are Bitcoin True or Bitcoin Fairweather?  Are they all in when the next bear market hits or will they temporarily or permanently close shop for Bitcoin.
I am pretty sure they must have done their own research about Bitcoin before either accepting it, hodling it or incorporating it in their business; for merchants in these resorts/island, they really do not have anything to lose accepting Bitcoin payment since quite a lot of them use payment processors and they get fiat currencies at the end of the transaction, they only accept Bitcoin because it is tagged a Bitcoin island/resort or whatever, and it helps to attract crypto tourists and what have you, for such merchants, bull or bear period means nothing to them, whilst for those that will choose to receive Bitcoin directly and hold it, i am sure they know the risks involved and they'll surely be ready for it.

Having said that, the same things above goes for countries that have made Bitcoin a Legal tender, except of course if the country has also invested in Bitcoin with the nations funds (El Salvador did that), only then will market conditions bring the heat on them, but definitely before they take that step, they know the market is volatile, and ROI is for the long term, thus it is what it is.

For the Bitcoin community, we do not have anything to lose, all conditions is a win-win-win for us, they are contributing to mass adoption, and even if we lose some of them by the way side, that is very normal, they have played their own parts, and there will be other contributors that will definitely take their places as we progress.


Title: Re: Bitcoin island in the Philippines?
Post by: noormcs5 on September 25, 2022, 10:58:43 AM
Source: https://coinpedia.org/crypto-live-news/cryptocurrency-wallet-provider-pouch-to-turn-philippines-resort-into-bitcoin-island/

When I saw this news for the first time coming from a crypto friend of mine, it was really mind blowing. The adoption of Bitcoin and cryptocurrencies in the Philippines has taken to a whole new level in which a Philippines resort may be turning into a “Bitcoin island” by a crypto wallet provider.

What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

Thanks in advance!

The idea of opening a bitcoin resort on an island of Philippines is indeed a superb thought but I wonder whether bitcoin is publicly accepted in the Philippines at the moment. Can everyone buy and selll good in bitcoins ?

Anyhow, at this resort, everything will be sold and bitcoins and it will indeed be are a very new experience for the people visiting this Island. I wish i could plan a visit there too.  :)


Title: Re: Bitcoin island in the Philippines?
Post by: AmoreJaz on September 25, 2022, 11:52:04 AM

The idea of opening a bitcoin resort on an island of Philippines is indeed a superb thought but I wonder whether bitcoin is publicly accepted in the Philippines at the moment. Can everyone buy and selll good in bitcoins ?

Anyhow, at this resort, everything will be sold and bitcoins and it will indeed be are a very new experience for the people visiting this Island. I wish i could plan a visit there too.  :)

not that they will open a bitcoin resort, but the establishments in boracay island will accept bitcoin as form of payment. this island is one of the tourist destinations in this country. so a lot of foreigners will also benefit from this initiative. btc is publicly accepted in the PH, without any prob of doing their trading. they have local crypto exchange pdax. also, there's p2p in binance to convert crypto to PhP, their local currency. i guess, it is not too hard to introduce these to the people as smartphones and other digital gadgets are quite easy to access nowadays.


Title: Re: Bitcoin island in the Philippines?
Post by: Bitstar_coin on September 25, 2022, 12:04:33 PM
Any news regarding btc usage, and growing awareness is always positive news imo, only FUD is what is not welcome. Am assuming the Philippines is a btc friendly country and the government will not want to intrude in such news. A resort that accepts btc is a good start, it will attract tourists who are btc lovers to take a trip there and spend their btc.


Title: Re: Bitcoin island in the Philippines?
Post by: buwaytress on September 25, 2022, 12:22:12 PM
First thought when I saw this was: why would guy need to provide yet another wallet, probably inferior to anything else already out there? And then my second thought was: oh, but of course, it's business, the guy/company isn't really into Bitcoin, it's all marketing.

Sometimes I swear, I almost walk into traps when the simplest and most obvious answers are already out there haha.

But seriously: I probably need to look at Pouch first and see if it'd be as easy for me to use if I visited Boracay.


Title: Re: Bitcoin island in the Philippines?
Post by: blue_hurricanger on September 26, 2022, 09:39:28 AM
Seem like isn't a big deal as many make it out to be and the headline and article make it way too sensational to my taste. It's just an island with businesses now allowing BTC to be used as an alternative payment method. Heck, plenty of service jump on the BTC's train but they are never serious about it. They set a very high fee that is unrealistic to implement for fast and easy to use for the customers. That's only got BTC a bad name. Basically, they did it for the current trend or chance to be picked up in the news or shill on Twitter. Here, they even tried to shill some new wallet service to store and transfer BTC too.


Title: Re: Bitcoin island in the Philippines?
Post by: xSkylarx on September 26, 2022, 01:26:45 PM
What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

The article mentioned Boracay and it's not surprising if someone will make it into a bitcoin island. It's a place where there are more tourist than locals so it's a good marketing strategy if businesses will adopt bitcoin. It would attract more visitors especially crypto enthusiast to visit that place. If they own bitcoin, they can directly go there and won't need to exchange their cash to our local fiat. My friend recently went there and he said that most of his transactions were already cashless.

Quote
As per Pouch vice president Bill Mill, around 120 big and small businesses in Boracay have so far signed up to allow users to make payments in BTC.


Title: Re: Bitcoin island in the Philippines?
Post by: $crypto$ on September 26, 2022, 01:42:00 PM
What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

The article mentioned Boracay and it's not surprising if someone will make it into a bitcoin island. It's a place where there are more tourist than locals so it's a good marketing strategy if businesses will adopt bitcoin. It would attract more visitors especially crypto enthusiast to visit that place. If they own bitcoin, they can directly go there and won't need to exchange their cash to our local fiat. My friend recently went there and he said that most of his transactions were already cashless.

Quote
As per Pouch vice president Bill Mill, around 120 big and small businesses in Boracay have so far signed up to allow users to make payments in BTC.
Well I saw some news about Boracay Island which is nicknamed Bitcoin Island because most tourists come here just to enjoy the holidays and spend Bitcoin, even recently I saw tourists eating Burgers or other types of food only paying with Bitcoin using this QR code like this it's easy to adopt Bitcoin on this island, I'm also sure that more tourists will try how to spend Bitcoin on this island, almost all of this area already accepts Bitcoin.


Title: Re: Bitcoin island in the Philippines?
Post by: blockman on September 28, 2022, 08:17:48 PM
Good plan in a good place.
But let's see on how they're going to make it happen since there's still a lot of people that don't know what bitcoin is in our country.
Boracay island is already popular and they can probably get a lot of businesses their to get involved to this project that they want to do. I remember that this has happened first in El Salvador before they have fully adopted it as a legal tender.


Title: Re: Bitcoin island in the Philippines?
Post by: lalabotax on September 28, 2022, 09:59:12 PM
This is actually how Bitcoin is used.
Really impressed with what he is doing to make this happen. Bitcoin Island turned out to be not just an idea but actually a reality. This can happen, of course, because of the support from various parties, especially from the owner. This freedom to use Bitcoin is actually one of the goals of cryptocurrency, to be used as a transaction tool without any obstacles, anyone can enjoy, it anytime, and anywhere, without having to exchange it for the local fiat of a country. Because this is the goal of global cryptocurrency, without any limits or restrictions.


Title: Re: Bitcoin island in the Philippines?
Post by: goinmerry on September 29, 2022, 11:56:01 PM
What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

Just hype. It's not possible. Been in Boracay last summer and all I can say is, everything is now digital there. That's the wonderful development there where everything is now cashless and almost all establishments are accepting cashless payment.

Gcash is the popular payment method there and credit cards are as well. Adding crypto-payment is good though and I'm looking forward to that.


Title: Re: Bitcoin island in the Philippines?
Post by: budi691 on September 30, 2022, 01:41:11 AM
Boracay is a small island in the Philippines but on that island Bitcoin can be used freely and probably almost everyone uses Bitcoin to transact,
this is good news, Bitcoin adoption and adaptation can open everyone's eyes that Bitcoin thrives in the future, Barocay is a small island but can make something bigger about Bitcoin


Title: Re: Bitcoin island in the Philippines?
Post by: Yaunfitda on September 30, 2022, 07:47:52 AM
Good plan in a good place.
But let's see on how they're going to make it happen since there's still a lot of people that don't know what bitcoin is in our country.
Boracay island is already popular and they can probably get a lot of businesses their to get involved to this project that they want to do. I remember that this has happened first in El Salvador before they have fully adopted it as a legal tender.
Compared to most other Asian countries, Philipines is stated to be the one to have good awareness and people using it more. On that reason it is good to have bitcoin Island. By the time there is no clear data on how this island is gonna make positive move on the country's growth and economy needs to be analysed. Just because an island is named with bitcoin doesn't sound good without big things out of it.
You already said it yourself, Philippines is a bitcoin friendly country already, they have local exchange and other digital wallet like their Gcash and Maya and now this new wallet.

Definitely but if case you are interested:

https://bitpinas.com/feature/philippines-ranks-2nd-in-crypto-ownership-survey/
https://bitpinas.com/cryptocurrency/chainalysis-ph-second-crypto-adoption/

So I wouldn't be surprised if they will be very successful in the future, their new administration looks like they are as supported as the previous government of Duterte. They wanted the Philippines to be a crypto hub.


Title: Re: Bitcoin island in the Philippines?
Post by: yazher on September 30, 2022, 10:25:29 AM
It is not a big news in my country but indeed crypto is fast growing in our country. There are mobile crypto wallet that allows to easily pay bills, book resorts since it converts traded crypto into fiat easily. There are small business who accepts BTC now. If they will really built a resort in Boracay it can influence more tourist spots to accept and will make wide adoption even in tourist. Hopefully it will be managed and run well to make it possible.

The evidence is even the online payment wallet is now accepting cryptocurrencies and many more, no surprise that they want to create a bitcoin island in the Philippines because they know many people will gonna enjoy it and they can even attract some tourists from outside of the country. Now the problem here is, the current situation of the market where we are currently in a bearish market. if this is no problem for them, then they can really proceed with this big plan for bitcoin and I'm sure everyone in the crypto industry will like to see how will it be.


Title: Re: Bitcoin island in the Philippines?
Post by: Oasisman on September 30, 2022, 12:37:03 PM
My question is what happens at that crypto island? I mean why it is named so?
There only we can transact with Bitcoins or alts, for that reason it’s named so ? Or some great Bitcoin Scriptures have been made for which it is named so?
More details about the same was needed in the OP.
Nevertheless really feeling proud about Philippines brave decision regarding Bitcoins. More countries soon joining in after Philippines and I bet that.

It was all just a plan for now, but I'm not sure if more merchants have been accepting crypto in Boracay these days.
IMO, this will probably work as Boracay is one of the most heavily visited island for the tourist around the world. For sure, there are tourists who visits the island that owns crypto. That could be a good opportunity for the merchants to sell their products with an extra mile of payment options.
This could also be a good opportunity for the crypto wallet that promotes Boracay as a crypto island.


Title: Re: Bitcoin island in the Philippines?
Post by: justdimin on October 01, 2022, 08:44:30 AM
It is not a big news in my country but indeed crypto is fast growing in our country. There are mobile crypto wallet that allows to easily pay bills, book resorts since it converts traded crypto into fiat easily. There are small business who accepts BTC now. If they will really built a resort in Boracay it can influence more tourist spots to accept and will make wide adoption even in tourist. Hopefully it will be managed and run well to make it possible.
The evidence is even the online payment wallet is now accepting cryptocurrencies and many more, no surprise that they want to create a bitcoin island in the Philippines because they know many people will gonna enjoy it and they can even attract some tourists from outside of the country. Now the problem here is, the current situation of the market where we are currently in a bearish market. if this is no problem for them, then they can really proceed with this big plan for bitcoin and I'm sure everyone in the crypto industry will like to see how will it be.
Plus, there is a huge community that follows bitcoin in there, which means that there is going to be something that would benefit everyone there since it would be ready with a community in the long run.

That’s going to be a key element because it makes people realize that they could at least populate the place easily and could make a good profit from it as well. Doesn't mean they have to change anything, it would still be a problem with the general idea of it, but if somehow there could be an island, population problem would be solved and that’s a good thing, all the other things needs to be still solved since it’s definitely a big problem for sure.


Title: Re: Bitcoin island in the Philippines?
Post by: Oneandpure on October 01, 2022, 10:15:15 AM
Could be note my list destination one days later because have small town in Philippines are Boracay accepted payment using bitcoin, trough source link I read most excited get travelling to Boracay because have support around 120 big and small businesses accepted bitcoin as payment currency. Around Philippines is near from my country I am excited next year going there and made first purchase by using bitcoin although in my country still not allowed using bitcoin as payment transaction.

Still need checking about what the amazing place and destination in Boracay although have accepted bitcoin as payment transaction I think need to find placed view and another interested why have to go there. I think many tourist will go there because have accepted bitcoin around all business.


Title: Re: Bitcoin island in the Philippines?
Post by: qwertyup23 on October 01, 2022, 04:37:15 PM
Source: https://coinpedia.org/crypto-live-news/cryptocurrency-wallet-provider-pouch-to-turn-philippines-resort-into-bitcoin-island/

When I saw this news for the first time coming from a crypto friend of mine, it was really mind blowing. The adoption of Bitcoin and cryptocurrencies in the Philippines has taken to a whole new level in which a Philippines resort may be turning into a “Bitcoin island” by a crypto wallet provider.

What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

Thanks in advance!

This is very interesting- given that lots of countries have started to adopt cryptocurrencies in their financials as well, I guess the government of the Philippines saw it as a potential benefit in the long-run in our country. With this in mind, I do hope that the government would allow a more lenient on its application.

Our local exchange have started to adopt stringent regulations in terms of requiring KYC documents to be submitted + additional more documents that makes it counter-productive. If the government really wants to adopt cryptocurrencies in the country, I hope they make the application easier and convenient to all people willing to test it out.


Title: Re: Bitcoin island in the Philippines?
Post by: _BlackStar on October 01, 2022, 05:44:32 PM
What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.
OP, I didn't know about this news until I actually read it from you. Of course this will probably be a good one for any user who likes bitcoin in the Philippines, I think they will definitely be interested in visit the island named bitcoin island. But one question, I may have heard that the Philippines is a crypto-friendly country, but does your country's law legalize bitcoin as a legal tender?

I'm not Filipino, but I support adoption wherever it is. Perhaps it would be better if there were other pioneers supporting bitcoin user privacy on the island. Their service will be in demand by users who care about privacy rather than just being spearheaded by a custodial wallet.


Title: Re: Bitcoin island in the Philippines?
Post by: Jeger.Kiting on October 02, 2022, 10:22:34 AM
The Philippines is indeed being turned into a "Bitcoin Island." For the past four months, cryptocurrency wallet service Pockets has been actively promoting the use of Bitcoin on the island. The main goal of the company is to take advantage of faster and cheaper Bitcoin transactions to compete in the third largest global remittance industry, which is the Philippines' multi-billion dollar market. Digital nomads and BTC advocates who feel right at home even on the move are also taken into consideration. Pouch has been granted permission by the Philippine central bank to conduct transactions in both local pesos and bitcoins.


Title: Re: Bitcoin island in the Philippines?
Post by: Techkoy407 on October 02, 2022, 01:58:05 PM
like that if the view about bitcoin is open,
open up opportunities, dare to try, and that is something cool and great.

because basically using bitcoin at a time like this is the right thing.

technological advances must be maximized,
making payments with bitcoin is very simple and safe, all you need is,

Stable internet connection

Be a person who advances, develops and is successful in all aspects.


Title: Re: Bitcoin island in the Philippines?
Post by: Fara Chan on October 03, 2022, 01:33:40 PM
I just hope that people in here in this country can be cryptocurrency literate, many people here doesn't even know the true thing about crypto, there's still a bunch of people see bitcoin as scam because it is always being used in scam and there is  many fake coins here in ph that made some people not to like bitcoin. But I am so happy that our country is progressing and we're now having that kind of businesses here.
We should not categorize countries in general, if we have the courage to calculate or make percentages, almost everyone in any country has awareness of bitcoin acceptance, and far from what people say that bitcoin has grown so big in the Philippines, it is evident from one of the an example of a resort adopting bitcoin in the Philippines and could turn into a Bitcoin island in the future, this is an innovative step in driving progress in the tourism sector


Title: Re: Bitcoin island in the Philippines?
Post by: GideonGono on October 04, 2022, 02:31:14 PM
Source: https://coinpedia.org/crypto-live-news/cryptocurrency-wallet-provider-pouch-to-turn-philippines-resort-into-bitcoin-island/

When I saw this news for the first time coming from a crypto friend of mine, it was really mind blowing. The adoption of Bitcoin and cryptocurrencies in the Philippines has taken to a whole new level in which a Philippines resort may be turning into a “Bitcoin island” by a crypto wallet provider.

What are your thoughts about this one guys especially Filipinos here on this forum? Would love to hearing some feedback, reactions or opinion from you all here.

Thanks in advance!
Proud to be a Filipino and I would love to visit it to relax and have some fun with my friends.
To be honest some of my friends are already planning to visit Boracay even before this news, so might as well enjoy it with them if it would happen anytime soon.


Title: Re: Bitcoin island in the Philippines?
Post by: jostorres on October 04, 2022, 03:31:21 PM
Could be note my list destination one days later because have small town in Philippines are Boracay accepted payment using bitcoin, trough source link I read most excited get travelling to Boracay because have support around 120 big and small businesses accepted bitcoin as payment currency. Around Philippines is near from my country I am excited next year going there and made first purchase by using bitcoin although in my country still not allowed using bitcoin as payment transaction.

Still need checking about what the amazing place and destination in Boracay although have accepted bitcoin as payment transaction I think need to find placed view and another interested why have to go there. I think many tourist will go there because have accepted bitcoin around all business.
I heard that Boracay is one of the best tourist destinations in the Philippines but it's great that they are now accepting bitcoins there. Paying would be less hassle and there is no need to carry a fiat with you whenever you do walk around but a phone is just enough. Traveling to some countries only for the sake of using your btc for local purchases seems not worth it in my opinion.

What will you do once you successfully bought an item there? Will you go back immediately to your country? It would be better if we travel for a major reason like we sincerely like the place. The experience of using our btc on that place can be only treated as a bonus.