Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System

[malcovixeffect]

In the meantime,  to all cheering the news that their beloved
central bank has officially begun regulatory measures over Virtual
Currencies:

The response and comments being posted  by  local BTC users,
buyers, sellers i.e on localcoins etc, are about 95% in favor.

They just don't get it do they. They somehow think this is good.
They think it promotes BTC, It protects customers, it legitimizes
bitcoin they say.

They are proud of their central bank requiring AMLA/KYC procedures.

They are oblivious to the harms:

> The restrictions imposed on them.

> The Tax potential.

> The loss of privacy.

> The power to freeze your account.

> The potential limits on transaction size or monthly transaction
ceilings or some such limit not to be exceeded without further
requirements explaining to some local exchange why the large amount,
purpose excreta.

> The personal data leakage risk.

> The control over your money.

> The danger of government keeping tabs on your activity.

> The increased exchange fees expected, even if  regulation is only an
excuse to raise fees by the exchange to increase profits.

I am shocked and disappointed to witness the failure of so many to comprehend the whole picture. How many here really trust government to be reasonable, trustworthy, and to do the right thing? Stop look around you, think of all the things government can't or won't do right.
look around you to see the effects of "letting the government handle it".

Ditto

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[malcovixeffect]

This is good new for bitcoiners in the philippines. Ngayon makakahinga na yung mga natatakot last time ng lumabas ang balita na reregulate ng BSP ang bitcoin.

snip
Buti na lang ang pilipinas hindi masyadong mahigpit hindi katulad sa china parang gusto na nilang iban yung bitcoin, kung sakaling iban nga ng china siguradong baba yung price ni bitcoin karamihan pa namang investor eh galing sa china.

Whenever I see/read news about china banning bitcoin, I cannot stop myself from thinking, "Just another FUD". It has happened so many times now that I already ignore those news.

Hdi FUD yun, hdi kalang aware sa nangyayari.

[meemiinii]

Ito mas magandang article compare sa OP.  

The Philippines Just Released New Rules for Bitcoin Exchanges
http://www.coindesk.com/philippines-just-released-new-rules-bitcoin-exchanges/

Buti na lang ang pilipinas hindi masyadong mahigpit hindi katulad sa china parang gusto na nilang iban yung bitcoin, kung sakaling iban nga ng china siguradong baba yung price ni bitcoin karamihan pa namang investor eh galing sa china.

sa ngayon ay maganda pa ang pamamalakad ng bitcoin dito sa pilipinas. sana ay tumagal pa ang ganitong systema upang madali lang ang pag gamit dito. pero  sa oras na nakialam na ang gobyerno sa bitcoin ay tyak na medyo hihigpit ang pamamalakad dito lalo na sa seguridad ng lahat ng gumagamit ng bitcoin.

and sana di sya umabot sa ganyan na makikialam na ang goberno natin sa pamamalaka at pagpapatakbo ng bitcoin kasi pag ganun, posibleng mawala yung nature ng bitcoin na for freedom sya. and if incase makialam ang goberno is sana in benefit pa rin sa naararami na gumagamit ng bitcoin hindi yung sila lang ang nakakabenepisyo..

[theunbeatable]

Magandang simula yan para sa mga kababayan nating pilipino na bitcoiner at sa mga matututo pa lang. Alam nating malayo pa ang lalakbayin natin pero dahil sa unti unti nang merong pagyakap mismo ang bangko central, makakaakit ito ng iba pang pilipino at magkakaroon ng pagtaas ng popularidad and bitcoin.

[pecson134]

In the meantime,  to all cheering the news that their beloved
central bank has officially begun regulatory measures over Virtual
Currencies:

The response and comments being posted  by  local BTC users,
buyers, sellers i.e on localcoins etc, are about 95% in favor.

They just don't get it do they. They somehow think this is good.
They think it promotes BTC, It protects customers, it legitimizes
bitcoin they say.

They are proud of their central bank requiring AMLA/KYC procedures.

They are oblivious to the harms:

> The restrictions imposed on them.

> The Tax potential.

> The loss of privacy.

> The power to freeze your account.

> The potential limits on transaction size or monthly transaction
ceilings or some such limit not to be exceeded without further
requirements explaining to some local exchange why the large amount,
purpose excreta.

> The personal data leakage risk.

> The control over your money.

> The danger of government keeping tabs on your activity.

> The increased exchange fees expected, even if  regulation is only an
excuse to raise fees by the exchange to increase profits.

I am shocked and disappointed to witness the failure of so many to comprehend the whole picture. How many here really trust government to be reasonable, trustworthy, and to do the right thing? Stop look around you, think of all the things government can't or won't do right.
look around you to see the effects of "letting the government handle it".

I see your point. If ever bitcoin will be recognize there would be some restriction that can be imposed in using it. Moreover it will regulated and possibly they can even place tax in every bitcoin transaction made. We all know how the philippine government thinks. If they can impose tax on everything they can they would do it.

[J Gambler]

Nabalitaan ko nga ito magiging maganda ang kalakaran ng bitcoin satin kapag nag kataon na maging isang ganap na payment system na ang bitcoin saan syempre salamat nadin sa coins.ph nanaging daan sa lahat sa pakikipag connect sa security bank at sa ibang banko.

[paul00]

Maganda nga yan, magandang tax ng gobyerno para satin hahaha. Pero kung magkaka tax man, sana lang maliit. Shout out kay Duterte

[Snub]

Maganda nga yan, magandang tax ng gobyerno para satin hahaha. Pero kung magkaka tax man, sana lang maliit. Shout out kay Duterte

mganda nga purpose ng tax brad ang kaso e saan dinadala ? madami kasi di naman kasi bantay pa din ni duterte yan e , madaming tao pa din si duterte na corrupt talga kahit anong higpit nya meron pa din dyan kumukulimbat ng tax nating pilipino.

[Russlenat]

magandang balita ito para sa ating mga bitcoin earner.
para rin tayong mga OPW na humahakut ng dollar para sa pinas.
nakakatulong na tayo sa ating economiya gamit ang btc.
hope na mag tuloy-tuloy ito.

sana rin a accept na ng bitcoin si LAZADA dami kasing item doon na gusto ko bilhin gamit ang btc.

[Distinctin]

Maganda nga yan, magandang tax ng gobyerno para satin hahaha. Pero kung magkaka tax man, sana lang maliit. Shout out kay Duterte

mganda nga purpose ng tax brad ang kaso e saan dinadala ? madami kasi di naman kasi bantay pa din ni duterte yan e , madaming tao pa din si duterte na corrupt talga kahit anong higpit nya meron pa din dyan kumukulimbat ng tax nating pilipino.

Pero at least ngayon medyo nabawasan na ang mga corrupt.. Magaling na presidente is duterte at aggressive sa pagbabago
so tingin ko pabor siya sa crypto kasi gusto niyang mabilis na transaction at mura para sa masa.

[Yuhee]

Maganda nga yan, magandang tax ng gobyerno para satin hahaha. Pero kung magkaka tax man, sana lang maliit. Shout out kay Duterte

mganda nga purpose ng tax brad ang kaso e saan dinadala ? madami kasi di naman kasi bantay pa din ni duterte yan e , madaming tao pa din si duterte na corrupt talga kahit anong higpit nya meron pa din dyan kumukulimbat ng tax nating pilipino.

Pero at least ngayon medyo nabawasan na ang mga corrupt.. Magaling na presidente is duterte at aggressive sa pagbabago
so tingin ko pabor siya sa crypto kasi gusto niyang mabilis na transaction at mura para sa masa.

Sa bagay new generations naman na ang mga tao ngaun kaya matatanggap nila ang virtual currency. Mas ok na to ta walang makukuakot ang ibang mga politicians. Pero dba meron dn sa news na tatanggalin niya ang mga online gamblings? Sa bagay d lng naman gambling ang gamit ng BTC. Pero kau ba?

[fitty]

anybody seen this yet?

http://www.newsbtc.com/2017/02/08/philippines-bangko-sentral-recognizes-bitcoin-payment-system/

comments?

Well I have two sides after reading the article. First, I must say it is a great step with the legalization of Bitcoin in the Philippines. I'm glad that the BSP has shown their interest in Bitcoin. Thus, making it possible for other companies to see its potential here in the Philippines and will make us more convenient in terms of using it. In addition, I think this will bring more security for us, reducing the risk of being Scammed by other person because someone is regulating it and they can receive sanctions for that.

On the other side, I can say that regulating Bitcoin in the Philippines, it will be a mandate for us to pay tax and other fees making our earnings suffer a little. Although this is reasonable because we are insured by the Government. I think it will affect those people who are only earning a little in this thing. They should asses first whether they should collect tax in an individual based on the status of living of a certain person before collecting taxes from it.

[1mGotRipped]

ayos yan sir para madaming kitaan

[restypots]

Maganda nga talaga kunin na to ng Bangko Sentral ng Pilipinas, pero ang nakakatakot lang dito yung mga hidden charges o hindi natin alam kung san napupunta ang bitcoin natin. Mas maganda sana kung maging maayos lang ang pagtatakbo ng BSP para maging maayos din ang bitcoin payment system. Mas maganda kung gamitin na to ng Pilipinas, para nasa in track naman o updated tayo sa new technology.

tama naman talaga na tanggapin ng bangko sentral ang bitcoin dahil sila ang nuber 1 bank dito and for international na din so balang araw din lahat ng bangko dito sa pilipinas ay magkakaroon narin ng bitcoin at pwede mag invest kahit mag kano sa 10% every month siguro sobrang laki ng kita mo at ng bangko sentral

[0t3p0t]

Ito mas magandang article compare sa OP.  

The Philippines Just Released New Rules for Bitcoin Exchanges
http://www.coindesk.com/philippines-just-released-new-rules-bitcoin-exchanges/

Buti na lang ang pilipinas hindi masyadong mahigpit hindi katulad sa china parang gusto na nilang iban yung bitcoin, kung sakaling iban nga ng china siguradong baba yung price ni bitcoin karamihan pa namang investor eh galing sa china.

sa ngayon ay maganda pa ang pamamalakad ng bitcoin dito sa pilipinas. sana ay tumagal pa ang ganitong systema upang madali lang ang pag gamit dito. pero  sa oras na nakialam na ang gobyerno sa bitcoin ay tyak na medyo hihigpit ang pamamalakad dito lalo na sa seguridad ng lahat ng gumagamit ng bitcoin.

Eh di pati bitcoin makokontrol na rin ng rothschild kasi sila na din nagcontrol ng BSP diba? Yan yung mga nababasa ko na kinakatakutan ng ibang nagbibitcoin eh kasi nga kinukuha na nilayung personal info mo imbes na maging anonymous yung transaction at ang dahilan naman nila para daw maiwasan ang money laundering at iba pang illegal na transaksyon. Ano sa tinhin nyo guys? Malaki siguro epekto sa mga tulad nating bitcoiners kapag naghihigpit at malaki na nababawas sa fees dahil sa tax. Wag naman sana mangyari yan. Pero kung mangyayari man sa future yan sana malaki na rin ipon natin nun. Sana nga magiging maayos at maganda ang future ng bitcoin sa bansa natin para kahit papaano eh may magagamit tayo sa pang-araw-araw o sa oras ng emergency may madukot tayo.