The Philippines Officially Legitimize Bitcoin as Payment Method by sergey44

crypto-news · @sergey44 · Feb 12 '17

$0.13

The Philippines Officially Legitimize Bitcoin as Payment Method

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<p><img src="https://cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9iZTM1MTc2NThlZWNlMzA4NjIwYTMyOWMyNjhhOGVhZi5qcGc=.jpg" width="725" height="483"/>&nbsp;Bankgko Sentral ng Pilipinas (BSP) is officially regulating local Philippine Bitcoin exchanges as remittance companies and recognizing Bitcoin as a legitimate payment method. &nbsp;Espenilla emphasized the exponential growth of Bitcoin within the country, stating that monthly Bitcoin volumes increased from $1 mln to $6 mln a month in a year. &nbsp;For the long-term growth of the Bitcoin industry in the Philippines and <a href="https://cointelegraph.com/news/bitcoin-price-will-skyrocket-if-it-becomes-worlds-reserve-currency-by-2020">mainstream adoption</a>, the transparent and clarified regulatory framework for Bitcoin users and companies will ultimately be beneficial. https://cointelegraph.com/news/the-philippines-officially-legitimize-bitcoin-as-payment-method</p>
</html>

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@timothyb · Feb 12 '17

I hope the Philippino people, and culture greatly benefit from this decision, not just materialistically.

👍 sergey44

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@nigelmarkdias · Feb 12 '17

That's great news, @sergey44
As a hedge against inflation, Filipinos can also protect their earnings & savings with  [honest, sound money.](https://medium.com/gold-is-money/honest-sound-money-ddf1a1c9aa58?source=linkShare-395c1b751e76-1486919959)

👍 sergey44

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@sergey44 · Feb 12 '17

the UK government also gives permission Blockchain currency.Mark Avetisyan, the founder of the laboratory of these guys said:
“Automation of calculations using the Blockchain and smart contracts will reduce the transaction costs, allowing for the adaptation of this solution in many different areas such as insurance, real estate and government, to name just a few. Previously missing link was the lack of regulation – these guys laboratories are very proud to provide a controlled environment where digital payments can be made in a safe and transparent way.”

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@jacobtothe · Feb 12 '17

Government regulation is a problem, not a solution.

👍 jaredandanissa

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@jaredandanissa · Feb 12 '17

Exactly.  Anytime I hear regulation in the same sentence as Bitcoin alarm bells ring.  The point of bitcoin was to be decentralized to a point where it couldn't be regulated or controlled by a central entity, especially governments.

👍 jacobtothe, sergey44, cmtzco

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@englishtchrivy · Feb 12 '17

@sergey44 two things - wow amazing finally Pinas is doing this 
2nd thing - hopefully nobody pulls off a "hacking game"

👍 sergey44

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@tanemahuta · Feb 12 '17

cool

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@screenname · Feb 13 '17

Re: The Philippines Officially Legitimize Bitcoin as Payment Method

<p>This post has been ranked within the top 50 most undervalued posts in the second half of Feb 12. We estimate that this post is undervalued by $6.37 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-feb-12---part-ii">The Daily Tribune: Feb 12 - Part II</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>

👍 sergey44

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