⚠ LOCAL RULE ⚠: No signature spammers will be tolerated. I will delete spam that will ensue. I have the right to decide which are spam and not. The purpose of this thread is for academic purpose and not for anything else.

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I am writing a Legal and Business thesis paper about bitcoin and how it can be used by the public secured by a legal framework. I am stumped on my legal issue for my topic. So I'd like to ask the community for a bit of help.

A little background. In the Philippines there is no regulator framework that guides the use of bitcoins. What we have is just plainly a regulation issued by a government agency that is saying that Digital Currency exchanges should be registered with the Central Bank of the Philippines for purposes of checking for money laundering and anti-terrorist financing. There is no mention about anything that will involve the use of bitcoins in commercial activities.

In my paper, I would like to push for or convince regulators that we could implement bitcoins as something that could replace credit cards, debit cards, money remittances, payments, and all other financial systems. Not really replace though, but probably give the people a clear alternative. However, the legal issue is that since there is no legal framework, in case it will be used for commercial activities the buyer and sellers are not protected as there is no clear procedures to how they can be protected by law.

So that assumptions are,
A. Yes there is no legal framework for bitcoins to be used for commercial activities
B. Yes it must be regulated

My question is,

Since there is no legal framework and it must be regulated, so what?
What are the the consumer risks that poses a problem in the use of bitcoins in commercial activities that the law should address?


It would be better if you have sources to back up your answers. Looking forward to all of your responses. If you guys have any suggestions, feel free to post it.

This would still be a candidate for the lowest paying signature campaign in the forum.

$30 = 0.0065 btc

If equated,

0.0065 btc / 75 posts = 0.00008724BTC per post.

Oh well, good luck to you guys. I do hope someone will be willing to advertise for your cause.

So basically you are paying 0.002 ($9) for a senior to post 75 posts per month? Which means that would be 0.000027BTC per post?
Well, I don't expect a faucet can earn that much but you might not really get anyone to advertise for you. That's pretty low. You guys might need to think about this again.

So you are just paying

Jr Member: 3 spots - $6
Member: 3 spots - $7
Full Member: 3 spots - $8
Sr Member: 3 spots - $9
Hero: 2 spots - $12
Legendary: 2 spots - $13

per month? Not per post?

For a Sr Member, you are paying $9 for the whole month with 75 posts? If this was per post then people might consider, but if this is the monthly pay then you're really over your heads.

I will not stop criticizing loan scammers on this forum, ever! Which you are part of.

Are you still hoping that anyone will give you a loan? LOL.

Just lock this stupid thread because no one will ever fall for your shit.

The lock button is on the lower left-hand side of your own thread.

The only scammer here is you btw.

You really believe the shit you claim? You came here trying to scam for sure, you posted a loan request without collateral thinking someone will just fall for your ad and give you a loan? Well tough luck scammer, no one gives a loan here to scumbags like you. And you edited your post after I pointed out that you did not offer collateral, there is a record that you edit it if you didn't know. Then you did edit it, and you offer collateral way below what is required! Actually you offer collateral which is only half of what you are asking.

LOL you fucking scammer go away. You just wrote it after I pointed it out, you stupid fuck.
Also SIGT coins are shit coins that don't trade well. 3,000 SIGT coins are also just 0.03btc and your shitty iPhone 5s is shit all over the world that just cost about $60 or less which is just 0.014btc.

Your collateral is just 0.044btc? How the hell will you get a 0.08btc loan fucker? :/

Did you really think that someone will just blindly send you money because you said you have free electricity?
Offer collateral, or just GTFO.

Verified using https://tools.bitcoin.com/verify-message/.

Lending Status update:

Account Tagged
TX: https://blockchain.info/tx/d9f603e911b1c0bbb8ccd39d12d53e4bea8a5c12df3960a0e207a642571abf53

Repayment Status update:

Notes:  Wanted to bring interests down for long term and big loans. You can check the main page about it, I have a new matrix about interest.

Really? After you lost 1 bitcoins, you are saying you are confident in managing your own risks? That's really hypocritical to say that, don't you think?
You won't get any from anyone. So again, GTFO.

Yeah coz you are stupid to believe these fucking hyip sites will pay you shit tons of money every single day just because you invested in their site! What was their value proposition? "Oh, we will double your bitcoins because we invest in stocks ourselves and we found a way to consistently do a strategy that beats the system." Sound familiar?

You invested 1BTC for fucking scams? Well, I would say that it is your fault for falling for such lies.

No one will lend you bitcoins here. It is your first post here on the forum, and the first thing you do is ask for a loan? GTFO!

Was just kidding with the slavery. For sure these people voluntarily submitted themselves to solving captchas. I also tired using it, what I hate about it is that it solves every damned captcha that comes out. It is good and bad. Since I sometimes go on gambling sites and use their faucets, after claiming the faucets recaptcha comes out again and the app solves it again. I wish they have some sort of way that it will only solve a captcha when I click a button or something.

Approved Loan Amount: 0.0200BTC

Loan Details:
  Principal                 0.0200BTC
  Base interest @ 0.60%/day 0.0039BTC
  Repayment amount          0.0239BTC
  =================================

Repayment deadline: Wednesday, 27 September 2017
Collateral:         

By signing the below message you agree to all terms and conditions of this loan.

So you have a loan of 0.025 + 10%  for extension interest (or 0.0275)? It might be expensive to pay zazarb the 10% interest and then I would be charging new interest on  that 0.0275.

Maybe you can ask zazarb how much you should pay today on your current loan and I will refinance that loan for you.

You can also add that 0.01 additional loan too.

How bout I give you a loan to pay off zazarb and that 0.01?
I'll send the 0.025 for payment to zazarb and the 0.01 to your address.

Can you share the link to you current loans?

There is a bump bot somewhere in the forum. I wasn't able to save the link but you can just search for it at the digital goods sections, maybe you'll find it there.

Yeah, currently still out of funds right now. I might probably get some if my campaign pays us or I can increase the limits on my poloniex, so my funds are all tied up right now. Sorry, if you want I can talk to condoras about it, send me a pm about it.

1. There are services that you can just deposit convert then withdraw. That just depends on your country if there are any there. I believe you can use GDAX, if am not mistaken. You can send using SEPA. Not very familiar with the process though, since I haven't tried and I am not from the EU.
Bonus: I believe Kraken can also do this too. Not sure though how you will deposit there. Just do your research.

2. You can't set custom fees if you are using online wallets, exchange sites (such as GDAX, Poloniex, Bittrex, Kraken, etc.). They fix their own transaction/miner's fees.

3.The only way you can optimize fees or set a custom one is using your own non-online wallet like electrum, bitcoin-qt, armory, etc. However, the problem goes back to, how can you get bitcoins first? Then you will have to submit yourself back to those services that set large enough fees so that you transactions pushes through quickly.

4. If you somehow were able to put some bitcoins in your electrum wallet, yes you can set a low fee. You can actually set 0 fees, if you want. It may confirm, but it is more likely that it will not. It is not lost, since you can still accelerate it, the child pays for the parent (research this if you are interested, it's quite complicated), or finally it gets dropped from the memory pool of the network and the bitcoins go back to its original wallet.

Tip: To save on fees. Here are some steps,

1. Try to buy bitcoins from an exchange like Kraken.
2. Convert your bitcoins to some other cryptocurrency like doge or anything that has really low price per coin (which is also available on poloniex)
3. Then move that cryptocurrency to poloniex.
4. Convert it back to bitcoins,
5. Then you can withdraw the bitcoin for 0.0001BTC fee to any bitcoin address.

Short explanation: Kraken has high fees to move bitcoins, poloniex has only 0.0001BTC fees. Doge coin probably charge 0.001 doge to move, but that's really cheap when translated to btc.

So you are paying in Skrill but you want the Escrow to send you btc? That's a crazy deal you want. Skrill is also a reversible payment option and no one will accept it from you.

I would accept to be your escrow, but I will only accept btc to be escrowed and btc as payment with minimum of 1mbtc for my service.