Central of the Philippines Recognizes Bitcoin

[faceoff97]

I'm from Philippines also. Yes its good news to us! Because many Filipino heard that news they might been interested to invest to bitcoin. So the price of bitcoin will pump to high.  What if big investor can read that and invest big money the bitcoin price go to the moon. Thanks to bank central ng pilipinas for publishing like that news. Many people the job is bitcoin and many (ofw) overseas Filipino workers the sideline in bitcoin. I think it will not end this year bitcoin will become popular in my country.

Yes! This is a good news to us and even for the Filipinos who aspire to discover more about bitcoin for their own investments. I'm glad that Banko Sentral ng Pilipinas or BSP is recoginising bitcoin in the Philippines now. It can surely help the Philippines' economy moreover the Filipino's way of how they can earn more.

Well, whether central bank is recognising it or not bitcoin will still go on and will continue to pump and rise. Lets hope that they are doing this because they really want to develop cryptosystem and not just for personal interest. There is no denying that this recognition will help to increase the demand of bitcoin, it just that I dont trust politician. Bitcoin should remain its feature of having no one controling over it.

Im not surprised that this just happened, this is a new milestone for bitcoin. This only proves that bitcoin's future is bright.

[BTCeminjas]

The article is misleading. I am from this country and I study law, the fact that OP declared something false here is misleading people into believing the statement. The true meaning of these news is that BSP (central bank of the Philippines), is only recognizing Bitcoin Exchanges as an entity. They are only dealing with buying and selling cryptos for fiat. They are not the government agency that will be able to declare that bitcoins would be a currency that can be used for actual payments. BSP only regulates flow of money, which means it can only deal in AML policies, anti-terrorist funding polices and monetary policies for the state.

That was a clear information sir, yeah its true we are in the same country. As what he said BSP only regulate the money that comes in and out to our country they are not like our goverment politician who to control bitcoin crypto currency.

[Shanmatthew]

Its a good news to us Philippine citizens  that the bitcoin is recognize the potential of this crypto currencies. I hope this bitcoin is also recognize all over the world and accept this kind of currency .its very helpful to everyone knows.

[farwellbit]

Nice, that is a fresh breeze for the future of bitcoin. I hope all countries can do the same. In my country bitcoin is forbidden to be used as a transaction tool and in my opinion the central bank in my country is issuing news about very confusing and very obscure bitcoin. Lol

Oh that’s good, but why haven’t for once seen a big country accept Bitcoin as a payment system. All I see is countries like Venezuela, Philippines and the rest of them. Well, it doesn’t make sense, Bitcoin still remains an asset.

[upsidedown75]

This is great I'm seeing new investors in bitcoin since it's being recognizes as one of payment system. and many rich people in the philippines would invest so expect the demand of bitcoin to increase also the price. SEA will be one of the reasons why bitcoin will goes to bubble anytime.

I hope people will be educated with bitcoin that is not a HYIP because majority of the people in the Philippines does not have the right idea about bitcoin.
They actually viewed it as an investment rather than a currency, but with this regulation by the government or the BSP in particular, I hope this will give them confidence to use and trust bitcoin in their transactions.

I really hope so too, but I believe eventually as we start seeing more merchants adopting it and accepting it as form of payment, that idea will keep disappearing bit by bit for most of those who consider it as such. Sure, we cannot out rule the fact that bitcoin is a digital asset but that notion from anyone thinking it is all about the increase in value alone is what makes us to have weak hands during panic which is not good.

[mrcash02]

I think it's not the best way to recognize Bitcoin. Bitcoin should bring banks to decentralization, not banks take Bitcoin to centralization/regulation. People are euphoric about it thinking they will have lots of benefits, but I don't doubt after sometime people start complaining about this decision and remembering how easy and better was to use Bitcoins before... What I can see here is that Bitcoin is gaining power on Philippines and that is calling the attention of their authorities.

[blckhawk]

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.

That's pretty cool, I am a filipino and being accepted the bitcoin as a payment system is a good idea because the demand of bitcoin will increase and its price will be more higher. But having this scene has a bad effects like it will be tough for us to join in signature campaign because it will be crowded. But having this also is an advantage because there will be some store will accept bitcoin as mode of payment.

[salihno71]

I think this is a very good news for the bitcoin and generally for the cryptocurrencies. We will see how the locals will benefit on this decision.

[pecson134]

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 a good sign for bitcoins being recognized by the government. At least it was not considered as a hinder but a way for a better financial solution for the Filipinos when it comes to their living. I think bitcoins would now be safe to say legal in the country because of the blessing given by the government which means that we can entertain bitcoin transactions now without legal problems.

[rickadone]

This is great I'm seeing new investors in bitcoin since it's being recognizes as one of payment system. and many rich people in the philippines would invest so expect the demand of bitcoin to increase also the price. SEA will be one of the reasons why bitcoin will goes to bubble anytime.

It is really great and this is the kind of development that we want which would even make the whole bitcoin ecosystem stay even more relevant as we keep moving on. The demand will really soar high from this news among the Philippines and will also keep sending message to other part of the world and nearby countries until one day we see that the recognition and adoption is worldwide.

[Asmonist]

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.

I haven't read that article but if that is so then its great news! I think they really see the potential of bitcoin in the economy. Its significance to the fast changing digital economic status. I think this is the start of bitcoin regulations to make it more secure and legalized.

[bitgolden]

For real ? Ive just read about this topic today and im surprised. For us filipinos, this will become a great opportunity to focus on our cryptocurrencies. Keep on evolving

Believing that this would be a start of crypto involvement in our citizens. I know our people will have this as a great opportunity for us to earned more, instead of working all day in the farm. As it will be embrace by the community and having a support of the central banks, it could be possible that their will be a smooth operation in ou country.

Everyone surely are. You know that joy of being part of something big even makes it more interesting when you see that some of the things you have imagines and dreamed of are really coming to reality. I am impressed at the way the Asian continent as a whole have taken the whole bitcoin thing and it is very impressive. I really hope every other continent as well end up seeing this and seeing the benefits that can be derived over time as these countries keep making the lead.

[rocketbits]

Its a good news to us Philippine citizens  that the bitcoin is recognize the potential of this crypto currencies. I hope this bitcoin is also recognize all over the world and accept this kind of currency .its very helpful to everyone knows.

This is in fact the best news to hear in the past few days. This is really a very good thing that the government of Philippines have declared it as legal and now people are free to invest in bitcoin which will help them in making as much of money as they want to earn from bitcoin. It is no doubt a very good step and this will also encourage other countries to declare it as legal in their own countries.

[ongels]

Its good to hear statements from central bank about bitcoins, Im also filipino, so overwhelming to hear their decision especially im using bitcoins to cater  my daily needs. Its really true that bitcoins revolutionize payments, and in so many ways, this is the answer of all problems financially. Im looking forward that it will also lift up the value of btc in the up coming days.

[nydiacaskey01]

Philippine Government is indeed recognizing Bitcoin and they already issued a few license permits to operate a Bitcoin exchange. Problem is the Philippine media is not giving Bitcoin the kind of media exposure that it needs. Few days ago an investigative show discussed use of Bitcoin, if its a scam or not, they only interviewed those that joined HYIPs and ponzis and did not interview those who earns Bitcoin in legit way.

[BabyBoss]

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 because we have wallet called Coins.ph that  we need to follow the rules and don'ts of the Bangko Sentral for us to confirm our bitcoin wallet. They already recognized it amd we are free to use bitcoin here.

[Theb]

I'm from Philippines also. Yes its good news to us! Because many Filipino heard that news they might been interested to invest to bitcoin. So the price of bitcoin will pump to high.  What if big investor can read that and invest big money the bitcoin price go to the moon. Thanks to bank central ng pilipinas for publishing like that news. Many people the job is bitcoin and many (ofw) overseas Filipino workers the sideline in bitcoin. I think it will not end this year bitcoin will become popular in my country.

Yes! This is a good news to us and even for the Filipinos who aspire to discover more about bitcoin for their own investments. I'm glad that Banko Sentral ng Pilipinas or BSP is recoginising bitcoin in the Philippines now. It can surely help the Philippines' economy moreover the Filipino's way of how they can earn more.

Well, whether central bank is recognising it or not bitcoin will still go on and will continue to pump and rise. Lets hope that they are doing this because they really want to develop cryptosystem and not just for personal interest. There is no denying that this recognition will help to increase the demand of bitcoin, it just that I dont trust politician. Bitcoin should remain its feature of having no one controling over it.

Im not surprised that this just happened, this is a new milestone for bitcoin. This only proves that bitcoin's future is bright.

Lower down your expectation Question123. The Philippines recognizing Bitcoin does not make the price go up for any reasonable means. It won't even create in any demand of some kind. The Philippines just has recognize Bitcoin but it didn't tell any kind of support they are giving on their end. Look at how Korea and Japan do by supporting and accepting Bitcoin in their country even that is not enough to make the price move. For Bitcoin to grow in terms of price people must start buying and using it.

[terrenceschroeder]

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.

Instead of according to a random article and giving to this community a link, i think you should better giving us a short summary about this article is more helpful than just doing like this. By the way this is a helpful new too.

[coin_1122]

Its a good news to us Philippine citizens  that the bitcoin is recognize the potential of this crypto currencies. I hope this bitcoin is also recognize all over the world and accept this kind of currency .its very helpful to everyone knows.

Chances are there, very soon many countries will follow the Philippines country because they are seeing the potential and technology behind it. We should wait in the year 2018 many countries will start accepting Bitcoin as a payment method.

[blackhawkeye1912]

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, i heard that news and it is a good news for us for recognizing bitcoin by philippines’ bangko sentral. Many filipino investors will come in bitcoin. And it will help surely the value of bitcoin to pump up.

Wow!That's a good news to know. It will surely be a great help to Filipinos because this country is not that modernized of everything and it is still a developing country. Somehow,this will have a big impact to those small businesses knowing that they have a very nice target in the market. As I've heard from many sources,foreigners are so loved the country because of its beauty and prices of the commodities. All in all it's nice to know that Central of the Philippines recognizes bitcoin.

For me once Bitcoin become legalize in the Philippines, I doubt that there is a good impact for the bitcoin enthusiast about this matter. Because, as I can see once bitcoin be legalize of course there will going to have a restriction regarding about the transaction, the tax that we don't have before it could be happen once it become centralize. This is my opinion only