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Author Topic: Pilipinas (Philippines)  (Read 1206091 times)
jimmy01
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October 03, 2014, 12:53:27 PM
 #1141


hahaha siguro hindi natin alam. Smiley

its better be safe than sorry.. cguro ng dito yang taong yan HOY SEANDANIEL!! cge patabain mo pamilya mo gamit ng pera ng ibang tao ng dito ka sigurado.. sayang ndi ko nakuha ang info mo sa localbitcoins.. SCAMMER KANG HAYOP KA HAHAHA!!

haha seandaniel ba user name nya bro? parang politiko lang ah pinapataba ang pamilya gamit pera ng ibang tao  Smiley
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October 04, 2014, 05:49:23 AM
 #1142

Buying bitcoins here, Sell to me before the price goes even lower! I am buying with 320'000.00PHP to 350'000.00PHP. (With Escrow like Dabs and other known).

Contact me today, Contact me now. Don't lose more and more.....

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October 04, 2014, 09:48:14 AM
 #1143

Hi guys meron po ako btc faucet, ako po ung owner, para po sa mga gusto ito un link ko fr33btc.is-great.net, every 15mins po yan
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October 08, 2014, 07:11:13 AM
 #1144

Who is interested in helping jump start a new dice site? I need some initial funding to pay for the salaries of two local developers I have already contacted.

This should be a full time job for them.

This is separate from any investments for the site bankroll.

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October 08, 2014, 08:50:08 AM
 #1145

Bill filed to create E-Peso for internet payments.


http://www.msn.com/en-ph/money/business/bill-filed-to-create-e-peso-for-internet-payments/ar-BB85Tuk
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October 08, 2014, 09:55:42 AM
 #1146


maganda gawin nila itong ripple based Cheesy
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October 08, 2014, 05:18:32 PM
 #1147

I'm in the market to buy BTC up to USD 100,000 at prices on BTC-e.com, converted to PHP via xe.com - I am also buying Tagcoin if anyone is mining or has stocks, at BTC 000.13500

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October 09, 2014, 12:50:35 AM
 #1148

Mark, what's wrong with stamp? (It seems the local exchanges are running out because a bunch of people are buying.) Or any other? (BTC-e?) Or are we avoiding doing wire transfers?

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October 09, 2014, 01:06:33 AM
 #1149

I checked out the E-Peso article. Some things I noticed:

1. Gov Premined? 1 Billion pesos worth.
2. Insta 27,986+ full nodes (all branches must have full nodes) There are 10,000 bank branches nationwide, and 17,000 non-bank financial institutions.
3. Possibly 27,986+ bank owned miners
4. 1 E-Peso should be equal to 1 Paper/Coin Peso
5. I wonder what algo. Maybe custom made. Maybe the gov will create E-Peso specific ASICs. Existing hardware means old SHA256 asics or scrypt ASICs or GPUs. A block erupter in every bank, while I have a farm of spondoolies. hahahah!

6. I still have 10+ Sapphire 270X and 270 for sale. Smiley

Quote
Bill filed to create E-Peso for internet payments
InterAksyon
Newsbytes.ph, InterAksyon.com

MANILA, Philippines — A lawmaker has filed a bill creating electronic money as a medium of exchange for use on the Internet and all other electronic and non-electronic means of communications.

Pangasinan representative Kimi S. Cojuangco, author of House Bill 4914, said there is an urgent need to enact the proposed “E-Peso Act of 2014″ since there is no official medium of exchange or money for the Internet.

“What exists is a patchwork of methods using traditional credit systems, which act in place of money on the Internet. The E-peso is the electronic equivalent to the paper peso,” Cojuangco said.

Cojuangco said the E-peso would be a legal tender and legal payment for debt, taxes, goods, and services transacted through the Internet.

Under the bill, the E-peso will be recognized as the electronic legal tender and will be available in all banks branches operating the country.

Cojuangco said the amount on circulation of the E-peso would be limited to P1 billion in the initial two years.

The Bangko Sentral ng Pilipinas (BSP) shall explore and study the technology of “bitcoin and post bitcoin cryptocurrencies” to expand the knowledge base, which it will use in deciding what technology to use in E-peso, the bill said.

The BSP will also choose a system that uses peer-to-peer processing of the log chain and shall exert its utmost to leverage existing hardware being used by the other leading cryptocurrencies such as bitcoin, according to the bill.

The proposed legislation mandates BSP to require all bank branches to dedicate at least one computer with adequate technical specification to serve as a local peer.

An initial amount equivalent to one percent of the total amount of Philippine currency in circulation will be minted by the BSP within one year from the enactment of the proposed act.

Emphasis mine.

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October 09, 2014, 01:52:34 AM
 #1150

So, if this E-Peso happens, I'm guessing Banko Sentral will pre-mine 200 million in the first two months while testing the coin, 100 million per month. Then decrease the block subsidy total per month by 10 million every two months, until in the 22nd month there will be 1 Billion e-pesos in circulation.

Or, the gov could just pre-mine all 1 billion on block zero, and miners have maybe 10~100 million total per month or something. Eventually, the coin should match a portion of the narrow (M1) or broad (M2) stock of Philippine legal money, which is currently at $40 Billion USD to $130 Billion USD.

In 10 years, there will be 10 billion E-Pesos.

*edit* Another article:
http://www.philstar.com/business/2014/10/05/1376516/solon-pushes-e-peso-act

It says 1%.

Quote
An initial amount equivalent to one percent of the total amount of Philippine currency in circulation shall be minted by the BSP within one year from the enactment of the proposed act, the bill outlined.

$40 Billion USD = 1,788 Billion Philippine Pesos.
1% of that is 1.78 Billion Pesos

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October 09, 2014, 02:02:16 AM
 #1151

So, if this E-Peso happens, I'm guessing Banko Sentral will pre-mine 200 million in the first two months while testing the coin, 100 million per month. Then decrease the block subsidy total per month by 10 million every two months, until in the 22nd month there will be 1 Billion e-pesos in circulation.

Or, the gov could just pre-mine all 1 billion on block zero, and miners have maybe 10~100 million total per month or something. Eventually, the coin should match a portion of the narrow (M1) or broad (M2) stock of Philippine legal money, which is currently at $40 Billion USD to $130 Billion USD.

In 10 years, there will be 10 billion E-Pesos.

*edit* Another article:
http://www.philstar.com/business/2014/10/05/1376516/solon-pushes-e-peso-act

It says 1%.

Quote
An initial amount equivalent to one percent of the total amount of Philippine currency in circulation shall be minted by the BSP within one year from the enactment of the proposed act, the bill outlined.

$40 Billion USD = 1,788 Billion Philippine Pesos.
1% of that is 1.78 Billion Pesos

Thanks for sharing this Dabs.. hopefully our local miners will have some opportunity to get a bite on the chunk on this, but by checking on history, it either get premined ( as in mined in full force for some months before releasing it officially or it gets instamined )

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October 09, 2014, 02:05:17 AM
 #1152

It will probably be insta-mined. The rest should be normally mined. At least the 1 Billion will be held by Banko Sentral. And you can go to any bank to exchange your PHP to E-PHP and vice versa.

Because if it's not insta-mined, and it uses SHA256 or even scrypt, I'm going to rent-a-bunch-of-hashes. As will every other miner out there. Suddenly these cloud miners look useful.

If it uses a new algo, then my GPU's might be useful later if I haven't sold them yet.

The larger banks should be major pool operators. There will, of course, be independent miners and solo miners. A centralized de-centralized coin, backed by fiat. Interesting.

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October 09, 2014, 02:11:03 AM
 #1153

It will probably be insta-mined. The rest should be normally mined. At least the 1 Billion will be held by Banko Sentral. And you can go to any bank to exchange your PHP to E-PHP and vice versa.

Because if it's not insta-mined, and it uses SHA256 or even scrypt, I'm going to rent-a-bunch-of-hashes. As will every other miner out there. Suddenly these cloud miners look useful.

If it uses a new algo, then my GPU's might be useful later if I haven't sold them yet.

The larger banks should be major pool operators. There will, of course, be independent miners and solo miners. A centralized de-centralized coin, backed by fiat. Interesting.

Once I noticed those high end GPUs on some popular computer outlets get sold out frequently, something is up! Smiley

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October 09, 2014, 02:22:17 AM
 #1154

Once I noticed those high end GPUs on some popular computer outlets get sold out frequently, something is up! Smiley

Don't worry, BSP will make an announcement. And the banks will have some sort of new equipment rolling in. Someone will notice.

The thing better be open source, and signed by some high ranking geek working inside BSP.

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October 09, 2014, 02:27:18 AM
 #1155

I doubt E-Peso will really happen. It's just a suggestion from 1 person in the gov right..? I don't think the bill will be approved. But I am not an expert in PH politics, so not sure how it exactly works.

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October 09, 2014, 02:30:15 AM
 #1156

I doubt E-Peso will really happen. It's just a suggestion from 1 person in the gov right..? I don't think the bill will be approved. But I am not an expert in PH politics, so not sure how it exactly works.

It boils down on a good sales pitch...

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October 09, 2014, 02:45:23 AM
 #1157

I doubt E-Peso will really happen. It's just a suggestion from 1 person in the gov right..? I don't think the bill will be approved. But I am not an expert in PH politics, so not sure how it exactly works.

It boils down on a good sales pitch...

Here's the sales pitch. If it's anything like bitcoin, you can hide your ill-gotten wealth. (Of course, don't remind them politicians that it's all in the blockchain.)

You will see 20+ senators, 200+ congressmen, and 50+ provincial governors approve the bill.

Then watch as our 1000 PH/s cloud miner insta-mines the first billion coins. Everyone will think the BSP is doing it.

I will have a new job description as "E-Peso Escrow Agent". My fee will still be 1%. But I'll be sure to buy bomb-proof Chevrolet Suburbans and put up my own security agency.

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October 09, 2014, 02:49:48 AM
 #1158

I doubt E-Peso will really happen. It's just a suggestion from 1 person in the gov right..? I don't think the bill will be approved. But I am not an expert in PH politics, so not sure how it exactly works.

It boils down on a good sales pitch...

Here's the sales pitch. If it's anything like bitcoin, you can hide your ill-gotten wealth. (Of course, don't remind them politicians that it's all in the blockchain.)

You will see 20+ senators, 200+ congressmen, and 50+ provincial governors approve the bill.

Then watch as our 1000 PH/s cloud miner insta-mines the first billion coins. Everyone will think the BSP is doing it.

I will have a new job description as "E-Peso Escrow Agent". My fee will still be 1%. But I'll be sure to buy bomb-proof Chevrolet Suburbans and put up my own security agency.

BRAVO!!! Smiley

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October 09, 2014, 05:54:26 AM
 #1159

I doubt E-Peso will really happen. It's just a suggestion from 1 person in the gov right..? I don't think the bill will be approved. But I am not an expert in PH politics, so not sure how it exactly works.

It boils down on a good sales pitch...

Here's the sales pitch. If it's anything like bitcoin, you can hide your ill-gotten wealth. (Of course, don't remind them politicians that it's all in the blockchain.)

You will see 20+ senators, 200+ congressmen, and 50+ provincial governors approve the bill.

Then watch as our 1000 PH/s cloud miner insta-mines the first billion coins. Everyone will think the BSP is doing it.

I will have a new job description as "E-Peso Escrow Agent". My fee will still be 1%. But I'll be sure to buy bomb-proof Chevrolet Suburbans and put up my own security agency.

I hope they will use darkcoin like system.

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October 09, 2014, 06:03:32 AM
 #1160

Mark, what's wrong with stamp? (It seems the local exchanges are running out because a bunch of people are buying.) Or any other? (BTC-e?) Or are we avoiding doing wire transfers?

Because the price on btc-e is usually the cheapest in the USD market...

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