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Author Topic: Pilipinas (Philippines)  (Read 1310357 times)
Dabs
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October 10, 2014, 08:07:59 AM
 #1161

If the BSP don't work on the epeso I idea, I might do it anyway, just as an experiment to see if it can be done - These are the general ideas:

  • PoW / PoS (2%) coin
  • 1 epeso = 1 peso
  • I billion premined, with option to add more in future as need arises, but mining is done centrally. You cannot just have everyone printing money..:-)
  • Very transparent Block Explorer - other sites will no doubt spring up showing the amounts that public personas/politicians have if they have shared their public address, otherwise rich list would show patterns anyway. In other words, some control of AML.
  • Network of computers (probably AWS) to handle PoS and Stability of network, double spend etc.
  • Coins transferred through Tagcash network with no costs in our out (via Bank), or via cash, via EC Pay network (7/11 etc), for which there is a 1% charge to get the money into the network to buy the ePeso (their charges not mine). Tagcash revenues come from flat fees from merchants who do over 100 transactions a month in epesos, pesos, points or actions like stamps in the stamp books etc
  • Remittances would be easier, as BTC can be purchased abroad and there would be ways to purchase ePesos on exchanges but the rate would be fixed for cashout to bank in Philippines, so exchange rates on external sites would not fluctuate too much. We would handle KYC and AML through Tagcash or an exchange we ourselves would create to convert between BTC and ePesos
  • The amount of money held in the bank in Pesos should equal the amount of ePesos in circulation, possibly under supervision of a bank or us if we obtain an EMI. However, operating as EMNSP under UnionBank or SecurityBank are also options.

We would make 2% of the coins in stock via PoS, which would pay for the overheads of computers to handle PoS and therefore stability of network. Over time, this would be dispersed and the holders of ePesos would be making 2%, including the banks who would offer to hold coins in exchange for say 1 to 1.5%. Banking would not really be affected too much, but transfers of money would be much easier using the system. Anyone without computers or smartphones can use Tagcash to transfer back and forth using SMS. If there is a need to introduce more money into the system, that can be done. If the BSP want to take over the operation that also is not a problem.

So there's a few ideas - anyone have any constructive criticism?..Wink

Can you post that in my other thread?
https://bitcointalk.org/index.php?topic=816977.0

I have a few ideas about specifications, but I haven't mentioned them yet. Even though this will be an experiment, we need to sit down on this a few times. I'll try to get in touch with that legislator from Pangasinan.

My kid's pediatrician has the same surname.

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October 10, 2014, 02:00:18 PM
 #1162

Sa tingin nyu guys maipasa ang bill about Epeso?
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October 10, 2014, 04:11:08 PM
 #1163

Sa tingin nyu guys maipasa ang bill about Epeso?

What is money?
Money is a social convention in the sense that it is not valuable in itself, but valuable because people agree to take it as valuable. It is a medium of exchange, a tool that allows us to trade with one another without having to resort to barter, which inefficiently depends on the double coincidence of wants.

so in short explanation, magtatagumpay ang E-peso if people here in the philippines are willing to use it.
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October 10, 2014, 04:27:16 PM
 #1164

Sa tingin nyu guys maipasa ang bill about Epeso?

What is money?
Money is a social convention in the sense that it is not valuable in itself, but valuable because people agree to take it as valuable. It is a medium of exchange, a tool that allows us to trade with one another without having to resort to barter, which inefficiently depends on the double coincidence of wants.

so in short explanation, magtatagumpay ang E-peso if people here in the philippines are willing to use it.

Yun ang tanong kong willing ba na gumamit. Halos lahat gumagamit na ng internet hindi malayo na gagamit at gagamitin natin to.
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October 10, 2014, 04:45:58 PM
 #1165

If we give plenty of reasons to use it, it will happen...but it probably won't be quick, it will take a few years..:-)

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October 10, 2014, 04:54:50 PM
 #1166

well on what i have observed kasi sa crypto currency, most of the coins aim to make money rather than to be money.
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October 10, 2014, 08:12:59 PM
 #1167

If you make the coin only mineable via PoS at 1 to 2% ( I am thinking 1% is better since cash to back it up has to earn a little more for payouts), and pegged for buy in or cash out at 1 peso with no transaction fees, then it would end up being used as a money substitute. It would act the same way as Gcash or Smart Money, but decentralized in its use.

I am curious to see if a bank will handle the cash reserves to balance the issued crypto, as they want that cash, but the BSP may recommend that bank not to handle it...

If there are locations that handle KYC for cash in and cash out to bank accounts only, then that should satisfy the BSP for AML and should not require an EMI or banking license.

Alternatively,the ePeso could just be premined and given out to people who supply valid ID, a bit like the experiments in Iceland and elsewhere and then let the value settle itself.  A lot less hassle, no worries on the regulation front. Same idea tho for algo, probably based on Blackcoin.

Either way, if the coins are not used by enough people then it will be a waste of time. as is the situation with most coins, if there is no community or use case scenario then it will fizzle out.

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October 11, 2014, 02:21:38 AM
 #1168

mga tropa,, baka naman pwede nyo ako turuan about this bit coin, i already bunches of info about this coin, i already register in an online wallet , and it still confusing me, baka pwede makisali sa pool nyo. what ba mga kailangan gawin para maka-mine?
ang ginagawa ko palang now is Bitcoins4me pero every 1hour ang free sashori. help me here please Huh Huh
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October 11, 2014, 11:37:49 AM
 #1169

Haven't been updated about the latest happenings in our country. I don't know anything about this ePeso thing. Is this another form of digital money? If it is, who are the devs responsible for this? Sorry po medyo na curious lang ako bigla. First time reader of the Philippines thread. 4th year high school student from Pasig City. Hello po mga kababayan! o/

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October 13, 2014, 08:01:41 AM
 #1170

@dothebeats - Just search google for e-Peso bill in Philippines and take your pick of various stories. My personal feeling is that the e-Peso will never get off the ground as government controlled currency, but it does increase awareness and knowledge of crypto in general, which is also good for Bitcoin.

Bitcoin and crrypto will be the future of remittances into the Philippines, but the country has a long way to go for the average man on the street to use - he will want Pesos, either in Fiat money or something similar to Gcash / Paypal, which is what I am developing with Tagcash.com

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October 13, 2014, 08:23:14 AM
 #1171

@dothebeats - Just search google for e-Peso bill in Philippines and take your pick of various stories. My personal feeling is that the e-Peso will never get off the ground as government controlled currency, but it does increase awareness and knowledge of crypto in general, which is also good for Bitcoin.

Bitcoin and crrypto will be the future of remittances into the Philippines, but the country has a long way to go for the average man on the street to use - he will want Pesos, either in Fiat money or something similar to Gcash / Paypal, which is what I am developing with Tagcash.com

and im sure politics will be the first user of this e-peso bill Cheesy
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October 13, 2014, 08:41:47 AM
 #1172

@dothebeats - Just search google for e-Peso bill in Philippines and take your pick of various stories. My personal feeling is that the e-Peso will never get off the ground as government controlled currency, but it does increase awareness and knowledge of crypto in general, which is also good for Bitcoin.

Bitcoin and crrypto will be the future of remittances into the Philippines, but the country has a long way to go for the average man on the street to use - he will want Pesos, either in Fiat money or something similar to Gcash / Paypal, which is what I am developing with Tagcash.com

and im sure politics will be the first user of this e-peso bill Cheesy

Just wait until I can do a "private" presentation to some of the top politicians here. ALL of them did not budge about the foreign currency accounts, because that's probably where all of them keep their money.

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October 13, 2014, 09:59:24 AM
 #1173

@dothebeats - Just search google for e-Peso bill in Philippines and take your pick of various stories. My personal feeling is that the e-Peso will never get off the ground as government controlled currency, but it does increase awareness and knowledge of crypto in general, which is also good for Bitcoin.

Bitcoin and crrypto will be the future of remittances into the Philippines, but the country has a long way to go for the average man on the street to use - he will want Pesos, either in Fiat money or something similar to Gcash / Paypal, which is what I am developing with Tagcash.com

and im sure politics will be the first user of this e-peso bill Cheesy

Just wait until I can do a "private" presentation to some of the top politicians here. ALL of them did not budge about the foreign currency accounts, because that's probably where all of them keep their money.

ohh  i think they will probably approve it sir dabs it will be another option to hide their money
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October 13, 2014, 05:01:47 PM
 #1174

@dothebeats - Just search google for e-Peso bill in Philippines and take your pick of various stories. My personal feeling is that the e-Peso will never get off the ground as government controlled currency, but it does increase awareness and knowledge of crypto in general, which is also good for Bitcoin.

Bitcoin and crrypto will be the future of remittances into the Philippines, but the country has a long way to go for the average man on the street to use - he will want Pesos, either in Fiat money or something similar to Gcash / Paypal, which is what I am developing with Tagcash.com

and im sure politics will be the first user of this e-peso bill Cheesy

Just wait until I can do a "private" presentation to some of the top politicians here. ALL of them did not budge about the foreign currency accounts, because that's probably where all of them keep their money.

Sabihin mo na rin sa kanila na wag na wag silang magkukurakot gamit ang epeso dahil siguradong huli sila  Grin
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October 13, 2014, 10:34:31 PM
 #1175

Sabihin mo na rin sa kanila na wag na wag silang magkukurakot gamit ang epeso dahil siguradong huli sila  Grin

that would be impossible, for they can have their hands as many machines and proxies they want to conceal their identities.
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October 14, 2014, 02:13:20 AM
 #1176

hi guys pls. check our proposed project  https://bitcointalk.org/index.php?topic=822443.0  Sir dabs to be our escrow, this is made by several ppl though this might not be as big as what Sir Dabs is planning but hopefully it will help out in anyway especially sa value ng living ng mga kababayan natin dito ^^, .   This coin is created by several altcoin enthusiast, majority of them are Filipino, namely n3lzon who is incharge in tech development,  dearbesz in charge in operation and marketing same with dukektm a fil greece person, and of course ang inyong lingkod lol, anyway the project were created months before the epeso issue, well seems it's unlucky for us to coincide with 3 more IPO announcement today, if you have suggestion and idea or question please feel free to pm us, thanks and have a great day!


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Bakal
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October 16, 2014, 08:38:26 AM
 #1177

sino may usb miners jan...
baka pwede kong bilhin (pm niyo lang po ako sa presyong abot kaya)...gawin ko lang pong keychain, lapit na kasi christmas.
thank you.

btw, mabuhay ang Pilipinas!
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October 16, 2014, 12:14:01 PM
 #1178

This e-Peso thing might be another way of politicians to hide their ill-gotten wealth. Seeing that tracing an account and linking it to a person is a daunting task in itself, these dudes may use it to their advantage. Hmm, politics, how I hate thee.

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October 16, 2014, 01:32:41 PM
 #1179

This e-Peso thing might be another way of politicians to hide their ill-gotten wealth. Seeing that tracing an account and linking it to a person is a daunting task in itself, these dudes may use it to their advantage. Hmm, politics, how I hate thee.


im on your side bro Cheesy
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October 16, 2014, 07:36:02 PM
 #1180

This e-Peso thing might be another way of politicians to hide their ill-gotten wealth. Seeing that tracing an account and linking it to a person is a daunting task in itself, these dudes may use it to their advantage. Hmm, politics, how I hate thee.


im on your side bro Cheesy


ako din,  Smiley
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