Philippine Bitcoin Market- Internet speed is slowing bitcoin industry down

[groll]

Philippines, a small country with very competitive people has loved bitcoins and everyday the bitcoin users are growing. A country with high potential to be one of the bitcoin leading countries to use bitcoin. With coins.ph giving a lead to smartphone mobile applications Pilipinos can access bitcoins using their mobile phones. But the biggest shortcomings in this country is the slow internet connection. It has been a problem for decades this is the block wherein Philippines should overcome to compete in the worldwide bitcoin industry.

[stiffbud]

You forgot to add the cost of electricity. Bitcoin as a currency which can be used and obtained online, the electricity is also a big factor why bitcoin adaption for Pilipinos' is being held back.

[CoinOcean]

Can u tell how high the costs for electricity is? Would be interesting to hear from your site

[groll]

You forgot to add the cost of electricity. Bitcoin as a currency which can be used and obtained online, the electricity is also a big factor why bitcoin adaption for Pilipinos' is being held back.

Yes thank you for adding. It is a fact that electricity fee is very costly in the Philippines. A reason why many miners have failed or stopped bitcoin mining in the Philippines due to high power consumption and a high electricity bill. Adding these two factors slow and costly internet and high cost electricity bills, bitcoin in the country is seen to grow slower compare to other asian countries.

[detzaw]

Philippines, a small country with very competitive people has loved bitcoins and everyday the bitcoin users are growing. A country with high potential to be one of the bitcoin leading countries to use bitcoin. With coins.ph giving a lead to smartphone mobile applications Pilipinos can access bitcoins using their mobile phones. But the biggest shortcomings in this country is the slow internet connection. It has been a problem for decades this is the block wherein Philippines should overcome to compete in the worldwide bitcoin industry.

Philippines is ranked 21st over 22nd country in asia who has the slowest internet services, despite the slow download speeds, the philippines also has some of the most expensive internet connections in the world. but as of july 2016 as President duterte administration take over there's a lot of changes are coming for the philippines one of that is the internet services this was quoted by president duterte during his campaign, isp in the philippines and the NTC (national telecommuncation center) must revised their Fair Usage Policy, the FUP limits the internet users bandwidth.

[Kakmakr]

You only need a little bit of electricity to charge your smart phone and to use a digital wallet or even a hardware wallet like Trezor to be able to use Bitcoin. You do not need to have massive Bitcoin mining farms to dominate the Bitcoin scene.

There are many other aspects you can dominate, for instance : Market penetration & adoption / App development / Merchant acceptance and having a government that supports Bitcoin as a currency, and not just another commodity. ^smile^

[akogwapo14]

You forgot to add the cost of electricity. Bitcoin as a currency which can be used and obtained online, the electricity is also a big factor why bitcoin adaption for Pilipinos' is being held back.

Pilipinos don't mine bitcoin its not profitable in this country to mine bitcoin because of high electricity bill. There is many way to had bitcoin not only for mining. Yes I agree to op the real problem of this country is slow internet connection it would help if the internet is fast.