Central of the Philippines Recognizes Bitcoin

[19spawnfeed]

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

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states  sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

This is the start of the bitcoin regulation. When this news will scattered all around the country i am so sure that mor investors will invest in bitcoin. BSP (Bangko Sentral ng Pilipinas) statements has a great impact to all investors who has a doubt about bitcoin and this is a big help to widen their knowledge and trust bitcoin again.

It's good to hear that the " Bangko Sentral Ng Pilipinas " will recognize bitcoin as a payment system. Many Filipinos are joining in bitcoin to support their financial problem and because of that good news hopefully the big or small companies here in the Philippines will adopt too to the bitcoin as the payment system. And hopefully other countries are recognized also to the bitcoin to continue the popularity of the investors bigger and bigger.

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[Hallmader]

Even if The Philippines is not really a developed country, it has shown here that it is still keeping abreast with the latest technology the world can offer. Even if this beautiful country is relatively small, this is still one big good news for me. I am sure the neighboring countries will take notice of the country's central bank. They may not immediately do the same, at least this step from a country's central bank is made clear and that other central banks may proceed to study such progressive step.

[Wandika]

Even if The Philippines is not really a developed country, it has shown here that it is still keeping abreast with the latest technology the world can offer. Even if this beautiful country is relatively small, this is still one big good news for me. I am sure the neighboring countries will take notice of the country's central bank. They may not immediately do the same, at least this step from a country's central bank is made clear and that other central banks may proceed to study such progressive step.

That's good about Philippines, they just keep on reminding their people how it can be risky but still supports knowing that it gives their people some chance of living, it gives their people to have some investment that only possible in crypto currencies.

[Marrionbitcoin]

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

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states  sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

Wow! That's a great news for the Philippines. It shows that Bitcoin is the new thing in a society. Bitcoin is really a game changer that can improve our economy and helps many people to earn extra income and it can reduce the povery rate. Bitcoin is our future investment so we need to cope up with it. Many people have already changed their lives better to we might as well to experience the same as well. So, we better to invest to Bitcoin now and wait for the price to go up again.

[Royal Jelly]

Actually this is very good news. It's just that the question is how will the government control and monitor the banks that receive bitcoin as a means of payment? If there is a solution then it will be very useful for all parties

[hkdfgkdf]

I'm a Filipino and it's a good thing that here in our country, the government and the central bank recognizes the cryptocurrency. Hearing the news made my fellow countrymen into it. Most of the overseas Filipino workers prefer the blockchain technology(bitcoin) as transaction to send money from abroad to their families here in the Philippines. Plus, I know also people here who became financially stable because of bitcoins.

[markdario112616]

I'm a Filipino and it's a good thing that here in our country, the government and the central bank recognizes the cryptocurrency. Hearing the news made my fellow countrymen into it. Most of the overseas Filipino workers prefer the blockchain technology(bitcoin) as transaction to send money from abroad to their families here in the Philippines. Plus, I know also people here who became financially stable because of bitcoins.

I must agree, I've known a lot of OFWs that are engaging in crypto in which they also use to send money to there family's. It's an advantage for them as it is easy to transact with a low fees unlike going to a respective store that you need to pay for a transaction and additional fees just to send money.

Though, BSP already announced or made a bill that acknowledged the use of cryptos as for of payment here in the Philippines. This was published around 2013-2014 though I noticed that BSP didn't literally broadcast it. That's why a lot of people thought that Bitcoin is acknowledged by BSP recently.

[rachelia13]

Good news because it has a positive and profitable impact on long-term growth in the bitcoin industry in Philippines. And hopefully can help boost the bitcoin price. Unfortunately this is not happen in my country, where the government of my country still prohibit bitcoin transactions because there is no underlying asset the price of virtual currency and the trade value is very volatile so vulnerable to the risk bubble and prone to be used as a means of money laundering and financing terrorism, and it can affect the stability of the financial system and harm the public.

[tambok]

Good news because it has a positive and profitable impact on long-term growth in the bitcoin industry in Philippines. And hopefully can help boost the bitcoin price. Unfortunately this is not happen in my country, where the government of my country still prohibit bitcoin transactions because there is no underlying asset the price of virtual currency and the trade value is very volatile so vulnerable to the risk bubble and prone to be used as a means of money laundering and financing terrorism, and it can affect the stability of the financial system and harm the public.

A great news for all the people here, as this really makes us strong as a regular member of this forum and a holder of bitcoin, so for me it was a good point in our country that our government allows us to do it although it is not yet legal it is okay for as long as they are beginning to recognize it.

[bitlyra]

This is the start of the bitcoin regulation. When this news will scattered all around the country i am so sure that more investors will invest in bitcoin. BSP (Bangko Sentral ng Pilipinas) statements has a great impact to all investors who has a doubt about bitcoin and this is a big help to widen their knowledge and trust bitcoin again.

[Btcwashu]

This is the start of the bitcoin regulation. When this news will scattered all around the country i am so sure that more investors will invest in bitcoin. BSP (Bangko Sentral ng Pilipinas) statements has a great impact to all investors who has a doubt about bitcoin and this is a big help to widen their knowledge and trust bitcoin again.

It's a good news for the Filipinos who are involved in bitcoin and not only the Filipinos can be benifited with the new payment system through bitcoin in Central Bank of the Philippines, also the foreigner who are visiting the Philippines. I'm sure this is the good opportunity to all people who are living in the Philippines because some of the big companies and small companies are also adopting the new payment system called the bitcoin.

[mpetyunov10]

With risks of using crypto currency you can cope, otherwise - it's a regular instrument of the money market and the object of investment. This opinion was expressed by the deputy head of the Central Bank of the Philippines Melchor Plabasan in an interview with the local news television channel ABS-CBN. In this he stressed that the central bank considers bitcoin as a payment and settlement instrument. Also, a representative of the financial regulator warned about the risks of using crypto currency for accumulation and investment, which are caused by high volatility of the exchange rate.
It should be noted that the monthly volume of crypto-currency transactions in the Philippines reached $ 6 million.

[vhinzkie]

With risks of using crypto currency you can cope, otherwise - it's a regular instrument of the money market and the object of investment. This opinion was expressed by the deputy head of the Central Bank of the Philippines Melchor Plabasan in an interview with the local news television channel ABS-CBN. In this he stressed that the central bank considers bitcoin as a payment and settlement instrument. Also, a representative of the financial regulator warned about the risks of using crypto currency for accumulation and investment, which are caused by high volatility of the exchange rate.
It should be noted that the monthly volume of crypto-currency transactions in the Philippines reached $ 6 million.

Considering the fact that it is risky to invest and volatility is inevitable. I think Central bank of the Philippines see through it, and they just see that bitcoin and other cryptocurrency positively.

[Falmera]

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

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states  sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

It is a good news for us. This maybe the beginning that the country will embrace bitcoin. And more others will do the same. And its good to know that bitcoin will now be used by many.

[Vinalians]

As of today there still no news about this one. maybe because they not predicted that  value of bitcoin will decrease at this moment and not seeing a possible reason to increase because they are lack of knowledge about bitcoin. in the future they can understand it for sure.

[Prettyme]

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

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states  sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

It was a great news that Philippines is now recognizing bitcoin as a means of payment. This only means that more Filipinos will going to deal with bitcoin and many of us will become more expert when it comes to cryptocurrencies. So I think as a Filipino we need to educate people about it so that they will cope up with the changes.

[Kokoy]

Overall this is good news. Recognition of Bitcoin and regulations to help the nascent industry grow should be welcome.
Philippinos are one of the most active communities here. The remittance industry in Philippines is also big and Bitcoin should see some growth there.

I agree with what you said, I think this one which enlightened our fellow countries to acxept Bitcoin which is proven to be good to the people who might be involve in this platform with the accordance of proper assistance and guide to know the right way in orddr for you to earn here, I think we should be now working for it to basically include here to our currencies to be used.

[tyronecoinbit]

On that news was very true, well many Filipino get benefited on bitcoin as long as they believe on it and to make them to convince what is bitcoin they must should search first about it of when gonna be the exact history of bitcoin. So that they can relate what going on now then if they did that I'm sure there's no doubt they start immediately invest in bitcoin or work here in the forum which many campaign could they want join as long as it is legit.

[kalawang]

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

According to this article the Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states  sees the virtual currency’s potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.

yes that was so true. Philippines are already accepting cryptocurrencies. especially bitcoin cause philippine government knows and sees a lot of good changes will be if their accept crptocurrencies in our country especially bitcoin. it is good on our economy cause it reduces the numbers of employment. someday it will reduce the number of in poverty

[genixye]

Thanks to the central bank for publishing such news, this is good news for all bitcoin users.

I expect that bitcoin and blockchain will generally have high rules for finance and politics in the future world economy.