Another good news for cryptocurrency in the Philippines

[Unblock_news]

Iloilo properties for sale accepts crypto as payment

These properties are owned by cryptocurrency proponents who believe that a conversation on making cryptocurrencies a viable payment option should start.

The owners are both cryptocurrency proponents, and told CoinGeek that they believe that a conversation towards seeing cryptocurrencies as a viable payment option should start.

The owners also said that another reason why they accepted cryptocurrency payments is because of their plan to have the proceeds from the sale of the properties allocated into a cryptocurrency investment.

Read more here: https://www.unblock.news/news/iloilo-properties-for-sale-accepts-crypto-as-payment

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[Mometaskers]

I'm surprised this happened in the Visayas first. Might inspire the folks up north in Manila to do the same.

The owners also said that another reason why they accepted cryptocurrency payments is because of their plan to have the proceeds from the sale of the properties allocated into a cryptocurrency investment.

Well definitely better than gettting the payment in cash first and converting. The cash-in fees can also get quite expensive not to mention sometimes the exchange would lock your account over comparatively small amounts of money.

[Thanasis]

Already philippines have regulations for using cryptos?

If its still in the uncertain phase,then using bitcoin for buying properties without regulations may bring some difficulties later.

[Tamilson]

Already philippines have regulations for using cryptos?

I think the SEC had already reconsidering this and will soon to release an update. They're open for this kind of new technology since it's getting attention from the mass.

If its still in the uncertain phase,then using bitcoin for buying properties without regulations may bring some difficulties later.

I don't think so, it's already emphasize in the article that whoever want to buy the property they need to cash in through BSP licensed exchange such as bloom x, SCI and PDAX.

But the article didn't mention if the said amount will be base on the current price of btc or it will be fix in php and will just convert from php to btc.

[aoluain]

I think this is a good move for both buyer and seller. Buyers can
diversify some of their crypto investments to property and sellers
are attracting crypto buyers, it makes sense.

Property is a solid investment [excuse the pun].
Generally if purchased properly property rises in value over time.
Consider to purchase a number of properties and rent them out.

[mrdeposit]

Honestly, the adoption of cryptocurrency is spreading day by day even further and one of them is it, it is obvious that Philippine is crypto-friendly, because it is possible to see the most philippines in each project and AFAIK there are more crypto ATMs than others.

[1Referee]

The owners are both cryptocurrency proponents, and told CoinGeek that they believe that a conversation towards seeing cryptocurrencies as a viable payment option should start.

Not sure if CoinGeek is the best news outlet to consult in this case. They are known to be anti Bitcoin, and basically anti every other altcoin that isn't BSV.

Generally if purchased properly property rises in value over time.
Consider to purchase a number of properties and rent them out.

It's good in terms of wealth preservation, but it's not something I would be looking to do right now. Currently there are way more exiting options to invest in with Bitcoin and other types of projects, and of course, with much higher profits. Thus far, everything of significant value you buy with Bitcoin will make you regret having done so during the next mania.

[maemunah]

in Indonesia it is not good enough because there are many elements that are not clear I am happy my neighboring country is the Philippines there is good news about bitcoin I think it is good for them

[Ranly123]

Iloilo properties for sale accepts crypto as payment

These properties are owned by cryptocurrency proponents who believe that a conversation on making cryptocurrencies a viable payment option should start.

The owners are both cryptocurrency proponents, and told CoinGeek that they believe that a conversation towards seeing cryptocurrencies as a viable payment option should start.

The owners also said that another reason why they accepted cryptocurrency payments is because of their plan to have the proceeds from the sale of the properties allocated into a cryptocurrency investment.

Read more here: https://www.unblock.news/news/iloilo-properties-for-sale-accepts-crypto-as-payment

How was it a good news? Does it have something to do with the improvement for crypto? I see your post as a regular news and nothing is good to happen to us even if he is to sell his properties using crypto.

[Juggy777]

Iloilo properties for sale accepts crypto as payment

These properties are owned by cryptocurrency proponents who believe that a conversation on making cryptocurrencies a viable payment option should start.

The owners are both cryptocurrency proponents, and told CoinGeek that they believe that a conversation towards seeing cryptocurrencies as a viable payment option should start.

The owners also said that another reason why they accepted cryptocurrency payments is because of their plan to have the proceeds from the sale of the properties allocated into a cryptocurrency investment.

Read more here: https://www.unblock.news/news/iloilo-properties-for-sale-accepts-crypto-as-payment

Hey that’s an interesting news you have shared, I knew people were buying services with bitcoins but it’s good to see people are buying residential houses too with it. I wasn’t aware there was a huge demand for bitcoins in Philippines, but what about their local law does it allow such a transaction. I believe this news can inspire many others to buy and sell in bitcoins, and increase adoption of bitcoins which in turn can fuel a rally going ahead.

[wuvdoll]

Maybe the tax laws would require people to hold bitcoins or even use them like the regular fiat currency is used ? If that is the case I doubt there would be any difference between buying a loaf of bread or a whole house. I mean the logic is the same in both of them, you pay the person in bitcoin and they give you the product, it could be anything. If that is allowed than buying a house shouldn't be a problem.

When these kinds of laws pass they usually include places (exchanges) that you can actually exchange your fiat to bitcoin and bitcoin to fiat because governments regulate those exchanges heavily. Same applies to coinbase and USA for example, government can't keep track of everyone so they put the workload to coinbase and trust them to give all info on people who has bitcoin.

If Philippines does the same with certain exchanges I don't see a reason why person A can't buy a house from person B as long as its tracked.

[incomefromcoins]

The Philippines having a positive sign on the crypto front we can expect positive adoption happen from banks and government organizations in crypto

[boyptc]

Already philippines have regulations for using cryptos?

https://news.bitcoin.com/philippine-sec-approves-draft-rules-for-icos-and-crypto/

[Capt00]

The Philippines having a positive sign on the crypto front we can expect positive adoption happen from banks and government organizations in crypto

You are right, the government of the Philippines recognized Bitcoin as an internet currency since last year and I think there's no reason why some people there accept Bitcoin as a transaction payment like buying and selling poverty. Besides, the seller is already aware of crypto, because they are crypto enthusiast too. Well, this a great open source and have mass adoption in the Philippines.

[Unblock_news]

Honestly, the adoption of cryptocurrency is spreading day by day even further and one of them is it, it is obvious that Philippine is crypto-friendly, because it is possible to see the most philippines in each project and AFAIK there are more crypto ATMs than others.

Yes, Philippines is open to adopt cryptocurrency and blockchain technology. There are many events here in the Philippines about blockchain and cryptocurrencies. Hoping soon that all the Filipinos are knowledgeable about crypto and blockchain and start to adopt it.

[Reid]

Iloilo properties for sale accepts crypto as payment

These properties are owned by cryptocurrency proponents who believe that a conversation on making cryptocurrencies a viable payment option should start.

The owners are both cryptocurrency proponents, and told CoinGeek that they believe that a conversation towards seeing cryptocurrencies as a viable payment option should start.

The owners also said that another reason why they accepted cryptocurrency payments is because of their plan to have the proceeds from the sale of the properties allocated into a cryptocurrency investment.

Read more here: https://www.unblock.news/news/iloilo-properties-for-sale-accepts-crypto-as-payment

How was it a good news? Does it have something to do with the improvement for crypto? I see your post as a regular news and nothing is good to happen to us even if he is to sell his properties using crypto.

It is actually simple. If this goes in local mainstream media then it can open up minds of other people that there are other ways to pay something rather than just credit cards and the banking system.

Aint that what we are really aiming for? For every crypto currencies to be used as a "currency" and not just an investment.
Now that is being used as fiat like you are opposing it or questioning how was it good news?

I believe it is a good news. A small one but a good step ahead.

[PlusOne88]

If this is true this could have been a very good example of how one can really benefit from the use of cryptocurrency. I hope this starts as a good model to push others to use or do just the same. Philippines is a small country yet it has never been so full of surprises to see that from such a small country comes the love and acceptance of cryptocurrency.

[samcrypto]

Already philippines have regulations for using cryptos?

If its still in the uncertain phase,then using bitcoin for buying properties without regulations may bring some difficulties later.

There is no final regulation about this one and I think this is too risky for the investors. Its good to accept cryptocurrency as mode of payment as long you study the possible result of that one, I’d rather use my fiat money and hold my bitcoin and I know it will grow more. This is a great adoption though.

[playboy654]

Iloilo properties for sale accepts crypto as payment

These properties are owned by cryptocurrency proponents who believe that a conversation on making cryptocurrencies a viable payment option should start.

The owners are both cryptocurrency proponents, and told CoinGeek that they believe that a conversation towards seeing cryptocurrencies as a viable payment option should start.

The owners also said that another reason why they accepted cryptocurrency payments is because of their plan to have the proceeds from the sale of the properties allocated into a cryptocurrency investment.

Read more here: https://www.unblock.news/news/iloilo-properties-for-sale-accepts-crypto-as-payment

it seems good to be tall of the Bitcoin to the next level because the good moves will always been appreciated by the people who are using this field from a long period of time will definitely accept it.

[Indrawan77]

Well its surprising that Philippines took the crypto adoption seriously, its a very good news and good way to become example for other countries to adopt crypto, but I think its a bit forcing to make people must convert to bitcoin or litecoin to purchase the house, crypto suppose to be an option for payment so the government not misunderstand that crypto want to shift fiat usage, but I really happy to see another things can be bought using bitcoin, its mean we are near with the mass adoption and finally bitcoin could act as currency