SAUDI Bitcoin Trading on LocalBitcoins TO THE MOON

[Doms]

I think we can expect the same or even better growth in neighboring countries and even in other parts of Asia, most especially East Asia, where Japan and China are leading the way. Even Southeast Asian countries are starting to warm up on bitcoin with more local exchanges popping up, which was unheard of three or five years ago.

[mutiarabaswedan]

I think we can expect the same or even better growth in neighboring countries and even in other parts of Asia, most especially East Asia, where Japan and China are leading the way. Even Southeast Asian countries are starting to warm up on bitcoin with more local exchanges popping up, which was unheard of three or five years ago.

True its growth in east and southeast asia is very rapid and big. I myself lived in southeast asia already know bitcoin long enough and my friends also many who already understand with bitcoin

[kintuull]

Saudi is looking to improve its sluggish economy due to lower oil prices, maybe bitcoin could be a consideration for saudi to improve the economy and not depend on oil

[AjithBtc]

This might be an good news that the Arabs have started using bitcoin as investment and for different needs. They are wealthy people who have the ability to invest huge. Also these people lack in knowledge but they with the wealth make use of others for their requirement. So soon several blockchain projects too can be found in Saudi. Already few East Asia Countries are using blockchain specifically Dubai is leading.

[CraigWrightBTC]

That is good Saudi bitcoin trading on localbitcoin maybe it will makes price of bitcoin to the moon
 but i am doubt about that because bitcoin's price on localbitcoin is always to the moon (expensive)
 the peoples on Saudi will makes bitcoin's price to the moon, if they have market of bitcoin on their country.

[Kemarit]

I think we can expect the same or even better growth in neighboring countries and even in other parts of Asia, most especially East Asia, where Japan and China are leading the way. Even Southeast Asian countries are starting to warm up on bitcoin with more local exchanges popping up, which was unheard of three or five years ago.

Yeah. The Philippines, which recently put up regulations on bitcoin, Indonesia, HongKong and Singapore which is in South East Asian region are already prepared for bitcoin undertaking. I'm not surprise that Saudi Arabia joined the scene. Dubai has already embraced Blockchain technology, executing executing all of its transactions on a blockchain by 2020. Even Bitcoin wallet and block explorer resource Blockchain has focused its expansion efforts with investment in the Middle Eastern region as well.

Although $100,000 is minimal, but I think this is significant and we can used it to gauge how Saudi bitcoin trading will be in the future. We might also see an increase of members from Saudi Arabia here in bct, which is also a good sign that more and more users are into bitcoin from there.

[Kakmakr]

The question is, why are trading volume increasing via LocalBitcoins and not on Bitcoin exchanges. Someone are trying to move money and wealth and doing this outside of the regulated environment. It might be some workers from the West that are sending money home to avoid the expensive remittance services.

How strict is the capital controls of these Arab nations? 

[Mumbeeptind1963]

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Maybe yes, everyone has a privilege to use bitcoin whenever they need it and whatever they want it. Bitcoin is for everybofy, it is for those individuals that want to earn more for their needs.

[c789]

Yes, BTC volume will increase. Bitcoin is perfect for transactions where the details of the transaction need to be public. For private transactions, Monero is the best choice. Both will see rising volumes.

[hardtime]

Too bad they're buying on LBC. That means they're not moving the price.

Right here guys, this isn't going to be helping the whole hodl movement as the price is just going to stay around where it is. I also think the exploding of prices on here is coming from the government not regulating Bitcoin yet as they haven't seen it as much of a threat to their Fiat economy, so at some point this will all die down because of government intervention.

It surprised me that the countries in the Middle East are now adopting and starting to use Bitcoin. We all know that people there are super rich because of their "monopoly" in oil and this will bring positive uptrend for BTC in the future. I don't know the reason behind this increased trading of BTC in these countries but it is always good that many people are starting to get involved with cryptocurrencies.

The superrich are going to follow whatever is best for them, I doubt they're getting involved in Cryptos.

[Sadlife]

So that's why bitcoin price is increasing. This is good
I hope this decentralized trading platform doesn't get compromise with their local government by interfering with the trades or banning btc
This could be a wake up call for india and realize that bitcoin not risky as an investment.

[geopolisch]

With the governments as there are now and the conditions, bitcoin will definitely be quite popular in middle east. And subcontinental Asia too.

I think that would be a big advantage for countries that are not so developed yet, to implement bitcoin as a another way to make a payments.
It is a great opportunity, because even if the percent of  population using bitcoin is really small, that still may give great returns, also thanks to the taxes.

But all of us need to admit, that paying taxes is something that many people dont do over where, they try to avoid it, because it is fairly easy with cryptocurrencies, however that is still against the law.
You should always consider paying taxes, as a help to your country, and a help for the nation. After all, some of this money go to health service, and to help the poor part of society.

It is no surprise to see some of the countries that I don’t say not developed but rather still behind in some fields especially when it comes to international economy since using bitcoin helps them develop and improve their quality of life, since their local currency is lower compared to the dollar some of them earning 10$ covers a lot for them.

[btcdevil]

With the governments as there are now and the conditions, bitcoin will definitely be quite popular in middle east. And subcontinental Asia too.

I think that would be a big advantage for countries that are not so developed yet, to implement bitcoin as a another way to make a payments.
It is a great opportunity, because even if the percent of  population using bitcoin is really small, that still may give great returns, also thanks to the taxes.

But all of us need to admit, that paying taxes is something that many people dont do over where, they try to avoid it, because it is fairly easy with cryptocurrencies, however that is still against the law.
You should always consider paying taxes, as a help to your country, and a help for the nation. After all, some of this money go to health service, and to help the poor part of society.

It is no surprise to see some of the countries that I don’t say not developed but rather still behind in some fields especially when it comes to international economy since using bitcoin helps them develop and improve their quality of life, since their local currency is lower compared to the dollar some of them earning 10$ covers a lot for them.

Ya it is true that this type of country whose fiat currency price is lower then bitcoin so when they are earning bitcoin and converting to their fiat currency they are earning very good , if i am not wrong better then their day job payment. So this country will soon accept bitcoin and its technology to improve their financial position

[ekoice]

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Given the statistical data that you have mentioned it is a clear fact that bitcoin can really be famous in the middle east. Given the resources and money of the people from the middle east it is not a question on whether they can afford or not but on how much bitcoin are they planning to purchase. This oil rich countries have seen the value of bitcoin and will enlist bitcoin in their feasible investments.

giving them enough knowledge for sure they will adopt this system, oil and gold can be transact using bitcoin as they are really
rich with both venue lets see how this news will bring new momentum  in the middle east.

Yes,middle east is already filled with oil rich people and if they start adopting bitcoins,then bitcoin price would go more.More over,if the workers in middle east know about bitcoins,then surely they will benefit much by sending their hard earned money through bitcoins thereby saving higher exchange fees.

[Haladay]

It's already very popular in there, I think. Because some people try to hide some money from that semi kingdom type despot governments.

[gondes21]

wow, if btc still soaring for the next 50 years. They will be still wealthy without the oil.

[giveen]

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

There is a slight chance for bitcoin becoming popular in middle east but in the future only. If you see currently bitcoin trade does occur in dubai also but the buyers are mostly the same people. Bitcoin is expanding in middle east but process is slow for now.

[mimini0147]

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Definitely.

I think that P2P trading activity is going to always be an indicator of the actual user engagement.

Because most of the volume that comes from bitcoin exchanges like Bitfinex or Bitstamp are made by speculators instead of real users. So it doesn't really count if you think about it, as they trade back and forth.

But P2P trading means that people are actually buying and selling, for their personal purposes generally.

[ekoice]

Bitcoin trading volumes in Saudi Arabia via peer-to-peer trading platform LocalBitcoins have never been higher. For the first time, trading volumes topped USD $100k in bitcoin traded over a week through the decentralized platform. According to data from Coin.Dance, trading volumes last week soared nearly 3x compared to the previous week, with over SAR400,000 in bitcoin traded during the week ending on April 15, a new all-time high.

More details below:

https://www.cryptocoinsnews.com/saudi-bitcoin-localbitcoins-all-time-high/

Do you agree that Bitcoin will become popular in the Middle East soon?

Thats a great news from the middle east.Already,there are more oil rich people in middle east.If they start adopting bitcoins,then bitcoin's price would rise more.If the workers in saudi arabia know about bitcoin,it would me much helpful for them to send their earnings to their countries.

[JENREM]

wow, if btc still soaring for the next 50 years. They will be still wealthy without the oil.

quite right @gondes21. but even if the price of bitcoin will rockets for the next 50 years, i dont think that they will stay wealthy just by depending in bitcoin. for me oil is still one of the best way to stay with a good economy. as we know oil is more stable. but i dont reject your opinion too because we dont know what wil happen in the upcoming years.