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PHCoin: First Digital Currency of and for the Philippines?

ferrariEverest · 59 · 20048

ferrariEverest

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Nababasa ko na yung tungkol sa Bitcoin dati, kasi may ibang forex brokers na nag-ooffer na ng Bitcoin trading. While doing my research, I stumbled upon PHCoin. Has anybody else heard about this? Or baka yung iba sa inyo na meron nito?

Let's discuss it here. I'm continuing my research. Based on what I've read, magkakaroon ito ng jobs platform (parang oDesk at Elance), pwede ring pang-remittance sa OFW, at pwede rin pangbuy and sell ng products and services (just like Paypal).

Mukhang may magandang future sa digital currency na ito, kasi para siyang Bitcoin, pero Bitcoin ng Pilipinas!
« Last Edit: Jul 28, 2014, 03:57 PM by ferrariEverest »


ferrariEverest

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Sabi nung naka-email ko, ang usap-usapan daw is launching ng PHCoin jobs platform this week o kaya next week. Ang alam ko original launch nun ay ilang linggo na nakaraan. It seems may problema or inayos sila kaya na-postpone. Dapat ayusin talaga nila kasi ang hirap kalabanin at sabayan ang gaya ng oDesk at Elance. :D

Ang kinaganda lang ng PHCoin jobs website ay wala daw fees, unlike sa oDesk at iba na may charges bawat transaction. Kung totoo yun, malaki matitipid ng freelancers once they get to work in PHCoin.

Konti pa lang kilala ko na may alam sa PHCoin. Kaya naghahanap ako dito sa PMT baka may ibang nakakaalam. May iba pa bang nagri-research dito? Kung meron, post lang kayo or PM nyo ko! Kung konti nakakaalam sa forex, I think mas konti nakakaalam sa digital currencies, kaya I don't expect marami magpopost dito. Lagi ko i-update itong thread para lumaki chance mahanap ko yung ibang PHCoin and digital coin users pati fans! Tingin ko malayo mararating ng PHCoin, lalo na pag naintindihan ng maraming Pinoy ang benefits nito at dahil PH (Philippines) Coin ito! Nabasa ko nga, ang Ecuador, gagawa ng sariling digital currency ang gobyerno nila!


foolishorient

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grabe,, gets na gets mo ang punto ng phcoin

Kung tatangkilikin ito ng lahat ng pilipino lahat tayo ay MAKIKINABANG,, kase ang network ay para sa ating lahat walang boss na kakaltas sa mga fees na pinaghihirapan ntn sa trabaho. At kahit nasa third world tayo kayang kaya natin to, computer at internet lang ang kaylangan mo.

Uulitin ko, ung gumawa ng bitcoin ay anonymous, nwala na syang bigla at di na nakilala, ibigsabhin walang CEO ang bitcoin, gamitin mo pangalan nya walang magagalit sayo, dahil ang may ari nito ay ang lahat ng gumagamit nito!  :yoohoo:
« Last Edit: Jul 30, 2014, 11:21 AM by foolishorient »


ferrariEverest

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May sumagot agad! :D Akala ko aabot ng isa or dalawang linggo bago may sasagot dito.

Mukhang marami ka na alam sa Bitcoin at PHCoin, Sir foolishorient? Mukhang hindi ka naman foolish, so hindi bagay ang username mo sa iyo. :D Kung pwede, tambay ka lang dito Sir. Sana mai-share mo ideas mo.

Bunga ng pagsisikap, mas marami na ko oras ngayon, kaya open ako sa mas maraming opportunities at pag-research. Tingin ko talaga magandang opportunity itong PHCoin lalo na para sa ating mga Pinoy, kaya bibigyan ko ito ng panahon. Mahilig ako sa currencies, digital or fiat man!


george88

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bajoyjoy

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PHCoin? I agree with George. I am very suspicious of this fE, I am not touching this with a 10-ft pole and I advise everyone the same.

Bitcoin from which PHCoin is apparently being modelled, is not regulated by the govt or the central bank. A real currency is guaranteed and a liability by the govt and the BSP. Just look at your Php20 it declares “Ang salaping ito ay bayarin ng Bangko Sentral at pinanagutan ng Republika ng Pilipinas”. Among other features, that guarantee is what makes a currency such, and a legal tender therefore.

Bitcoin fans may argue, since it is not regulated by any central bank or government, then it is free for use by anyone who would accept it. Granted that’s true, but how will you obtain a bitcoin/phcoin? Di ba you need to transfer cash from your bank account to the bank account of the counterparty/exchange? That’s where the law will get them (or you) sooner or later. The World Bank, financial newspapers and publications, and Dr. Roubini among others already called bitcoin as a "ponzi game". Various governments have issued their respective public warning on bitcoin, lets exercise prudence and be very careful with our decisions. There are various legit money-generating endeavors online, yun na lang ang pag-aralan at tangkilikin.

Spare yourself the headache and losses. Don’t get into this, PMT folks have gotten very smart over the years (and that includes you and me, fE), am sure you will all come to your senses.

BTW, there is already a public advisory issued by the BSP against bitcoin/virtual/cryptocurrencies. Caveat to all.

http://www.bsp.gov.ph/publications/media.asp?id=3377

Warning Advisory on Virtual Currencies
03.06.2014
It has come to the attention of the Bangko Sentral ng Pilipinas (BSP) that virtual currencies like Bitcoin are now being exchanged in the Philippines.  The public is hereby warned that such exchanges are not regulated by the BSP or by any regulatory authority in the country at this time.  Thus, there are no existing regulations which would specifically protect consumers from financial losses if an organization that exchanges or holds virtual currencies fails or goes out of business.  Moreover, there is no assurance that the value Bitcoin or any virtual currency would be stable.  In fact, its value can be highly volatile.
The BSP will be closely monitoring developments on these virtual currencies particularly on their possible use for money laundering and other illegal purposes, and will adopt appropriate measures as needed.
In the meantime, the public is enjoined to familiarize themselves with some basic information on the subject.  Further understanding can be gained through personal researches on the internet and other forms of media.
What you need to know about virtual currencies
A virtual currency is a form of unregulated digital money, meaning it is not issued or guaranteed by a central bank.  It allows purchase of both virtual goods (such as in online gaming environments and social network) and real goods and services (such as in retailers, restaurants and other establishments).  Unlike electronic money, which is backed by cash for 100% of its stored value, virtual currencies are not backed by any commodity like cash, gold or silver.  Rather, they are merely valued subjectively according to one’s ability to exchange them for goods.
Things to think about before buying, holding or trading virtual currencies
1.   You can lose your money through a virtual currency exchange – Exchange platforms are unregulated.  If a virtual currency exchange loses or fails, there is no legal protection that covers you for losses arising from any funds you may hold on the said exchange.  At present, there have already been a number of cases where virtual currency exchange platforms have gone out of business or have failed.
2.   Virtual currencies in your digital wallet can get stolen – When buying virtual currencies, the same are stored in a “digital wallet,” on a computer, laptop, PC tablet or smart phone.  This digital wallet makes use of public and private keys or passwords that allow you to secure your wallet.  Still, there have been a number of reported cases whereby consumers lost large amount of virtual currencies from their wallets through hacking.  Further, since virtual currencies do not have central organizations that hold and re-issue keys or passwords, losing the key or password to your digital wallet would mean losing your virtual currency forever.
3.   You are not protected when using virtual currencies for payment –Payments made through virtual currencies like Bitcoin are immediate, direct and non-reversible.  Further, since the use of virtual currencies is not regulated, there are no existing regulations to protect you in case of unauthorized or incorrect debits made from your digital wallet.
4.   The value of your virtual currencies cannot be guaranteed and can change quickly – The value of virtual currencies has shown several sharp increases for the past year, and several sharp decreases as well.  If you buy a virtual currency today, it is quite possible for its value to drop sharply and permanently the next day.
5.   Virtual currencies may be used for money laundering and other illicit activities – Virtual currencies provide consumers with high degree of anonymity and therefore may be used for money laundering and other illicit activities.  This illegal use can affect you, as law enforcement agencies may decide to close exchange platforms and prevent you from accessing funds that the platform may be holding for you.



foolishorient

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@bajoyjoy

that's  true, please dont consider this a debate, just want to explain why im still on the other side.

kinopya ko lang to sa coindesk.com

Indeed. Bitcoin is a commodity of limited supply that has a practical use e.g. precious metals. The practical use includes reduced transaction fees, convenience, transaction speed. In addition there is significant potential for growth in usage as an efficient transfer of title of property e.g. deeds, mortgage paper etc.
If we look back in history there are metals that were considered of low value until new uses came about e.g. lithium for batteries. Those people who speculated early made a lot of money. Bitcoin is no more a ponzi scheme than any other speculation in a commodity.
Ironically for the IMF FIAT is closer to the definition of a ponzi scheme or a fraud scheme than bitcoin. It is run by the commercial banks based on issuing debt. Commerical Banks create more FIAT simply by issuing more debt thus diluting the value of FIAT money created the day before. FIAT relies on an ever increasing flow of debt to sustain the banks and target inflation rate (dilution) of 2%.

Di ko kayo hinihikayat gusto ko lang iparating sa inyo kung bakit susuportahan ko pa din to.

btw, thanks for the info.
« Last Edit: Jul 31, 2014, 08:47 AM by foolishorient »



Prospera

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^Not so fast, guys. I think it behooves us to keep an open mind about these things.

http://leaprate.com/2014/07/30/apple-caves-in-to-popularity-and-reinstates-availabilty-of-bitcoin-wallet-blockchain-on-app-store/

So while I appreciate bjj's well-intentioned caveat, I think the above article sums it up quite well:

Today, things are somewhat different, with regulatory authorities in financial safe houses such as Switzerland and the United States having set out an entire framework for Bitcoin infrastructure, and many Bitcoin-related ventures having been backed by seasoned venture capital experts, giving rise to the notion that virtual currency is not only here to stay but represents a future means of conducting worldwide business.


ferrariEverest

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Finally, may pro and anti na! We now have people on both sides of the PHCoin. :D I am glad to have Ma'am Prospera and Ma'am bjj on both sides of this coin.

I will address yung points ni Ma'am bjj pagbalik ko, may lakad lang ako. Saka basahin ko muna yung subpoena este advisory and buong post nya before I make a comment. :D

Magandang punto yung nasabi ni Ma'am P and Sir foolishorient. Apple, Baidu (China's Google which is owned by a billionaire who is the richest person in mainland China), Newegg, Dell (owned by a billionaire) are some of the big names na tumatanggap ng Bitcoin. There are even websites now kung saan luxury items and properties are sold exclusively using Bitcoin. Samantalang dati hindi pinapansin ang Bitcoin. Bitcoin opened up opportunities, kaya mayroon na ngayong several hundred kinds of digital currencies (kasama na ang PHCoin).

If big businesses, billionaires and millionaires, and several respected individuals in global society accept virtual currencies gaya ng Bitcoin, even countries welcome its use (Ecuador gumawa na ng sariling digital currency), ano sa tingin nyo mangyayari? What makes us think that PHCoin and other digital currencies will not have a chance to prosper, considering marami sila benefits (mabilis na transaction pati zero or konting fees unlike banks, Western Union, Paypal, etc.)?

Tama si Ma'am P. Dapat open ang mind. An open mind welcomes a lot of opportunities. I missed a great opportunity sa Bitcoin since hindi ko ito pinansin at nabigyan ng oras a few years ago. Ngayon may second chance ako at tayong lahat with PHCoin, and I believe opportunity rin ito para sa mga Pilipino.

Mag post din ako ng articles dito (gaya ni Ma'am P and Sir foolishorient) in the next few weeks and months para sabay-sabay tayo marami matutunan.


foolishorient

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True!

Pero tanong ko lang, tama naman ang BSP pero

di ba sya the same kung wawarn nila ang tao sa mga ridin tandem na nag aabang sa mga businessman na mag withdraw sa bangko?

same din sa mga sindikato na nagdduplicate ng mga credit card ?

same din sa mga naghahack ng facebook gamit ang keylogger?

yun lang naman ang punto ng BSP wala nman tlagang masama both side.
« Last Edit: Jul 31, 2014, 01:01 PM by foolishorient »


george88

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Mahirap kasi yan sir FE para mo ng sinabi na ang load eh gagamitin mong currency have you play online games? Do you know kung anong sumira ng mga online games...


bajoyjoy

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True!

Pero tanong ko lang, tama naman ang BSP pero

di ba sya the same kung wawarn nila ang tao sa mga ridin tandem na nag aabang sa mga businessman na mag withdraw sa bangko?

same din sa mga sindikato na nagdduplicate ng mga credit card ?

same din sa mga naghahack ng facebook gamit ang keylogger?

yun lang naman ang punto ng BSP wala nman tlagang masama both side.

Yes its only a PUBLIC WARNING/ADVISORY (Babala in tagalog) because although it claims to be a form of "money", virtual currency is technically not within BSP jurisdiction, not within the purview of BSP charter and no existing regulations prohibiting it. And since its not yet regulated, consumers will not be protected.

@bajoyjoy

that's  true, please dont consider this a debate, just want to explain why im still on the other side.

I understand, I don't hold it against anyone kung gustong pasukin ang anumang bagay so long as naiintindihan nyang lahat ang risks. Pag kasi hindi naintindihan ang risk at nagkaroon ng loss, hihingi ng tulong sa gobyerno, then pag walang mabigay na tulong kasi nga labas naman sa jurisdiction, magagalit sila at yung gobyerno ang sasabihang pabaya o walang silbi. Pag pinigilan as preventive measure naman, sasabihin kino-control ang buhay nila. In the end, lagi govt ang may kasalanan, laging mamamayan ang biktima even if they were willing victims to start with.

I am not against virtual currency or digital payment systems (btw, inabot ko ang e-gold, alertpay and moneybookers, meron ako lahat nyan nung kabataan ko. e-gold account can be set up in 5mins using bogus email address and identity, but for moneybookers, i had to send identification documents to moneybookers’ principal office in UK, because they wouldnt activate the account until they verify my identity, pero in the end hindi ko din nagamit hahaha). All these e-currencies or online payments have specifica and named owners. That said, I am against bitcoin because it is and insists on being anonymous (despite the recent Mt Gox crash/failure) and lacks transparency and accountability, its unregulated and thus no way of protecting the consumers/users.


Quote
kinopya ko lang to sa coindesk.com

Indeed. Bitcoin is a commodity of limited supply that has a practical use e.g. precious metals. The practical use includes reduced transaction fees, convenience, transaction speed. In addition there is significant potential for growth in usage as an efficient transfer of title of property e.g. deeds, mortgage paper etc.

How about the risks involved?  One of the market they are targeting is OFW remittances by offering lower transaction fees, mind you. Sino ang hahabulin nila kung hindi makarating yung remittance sa pamilya nila? Para lang makatipid ng P500-1k, they are being lured na isugal ang perang pinaghirapan at ipagkatiwala sa ... kanino nga ba ipagkakatiwala? :scratch: 

Quote
If we look back in history there are metals that were considered of low value until new uses came about e.g. lithium for batteries. Those people who speculated early made a lot of money. Bitcoin is no more a ponzi scheme than any other speculation in a commodity.

Why compare to metals or commodity? What is bitcoin made of anyway--corn, wheat, silver, gold, megabyte or air? That's one problem about something supposedly of value  but not having any physical representation and no unit of measure for its value, rather, it will just be based on the "belief bitcoin has value" whatever "bitcoin" may be.

I'll continue my answers some other time, tgif e... :D

« Last Edit: Aug 01, 2014, 06:18 PM by bajoyjoy »


foolishorient

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Yes its only a PUBLIC WARNING/ADVISORY (Babala in tagalog) because although it claims to be a form of "money", virtual currency is technically not within BSP jurisdiction, not within the purview of BSP charter and no existing regulations prohibiting it. And since its not yet regulated, consumers will not be protected.
I understand, I don't hold it against anyone kung gustong pasukin ang anumang bagay so long as naiintindihan nyang lahat ang risks. Pag kasi hindi naintindihan ang risk at nagkaroon ng loss, hihingi ng tulong sa gobyerno, then pag walang mabigay na tulong kasi nga labas naman sa jurisdiction, magagalit sila at yung gobyerno ang sasabihang pabaya o walang silbi. Pag pinigilan as preventive measure naman, sasabihin kino-control ang buhay nila. In the end, lagi govt ang may kasalanan, laging mamamayan ang biktima even if they were willing victims to start with.

I am not against virtual currency or digital payment systems (btw, inabot ko ang e-gold, alertpay and moneybookers, meron ako lahat nyan nung kabataan ko. e-gold account can be set up in 5mins using bogus email address and identity, but for moneybookers, i had to send identification documents to moneybookers’ principal office in UK, because they wouldnt activate the account until they verify my identity, pero in the end hindi ko din nagamit hahaha). All these e-currencies or online payments have specifica and named owners. That said, I am against bitcoin because it is and insists on being anonymous (despite the recent Mt Gox crash/failure) and lacks transparency and accountability, its unregulated and thus no way of protecting the consumers/users.


How about the risks involved?  One of the market they are targeting is OFW remittances by offering lower transaction fees, mind you. Sino ang hahabulin nila kung hindi makarating yung remittance sa pamilya nila? Para lang makatipid ng P500-1k, they are being lured na isugal ang perang pinaghirapan at ipagkatiwala sa ... kanino nga ba ipagkakatiwala? :scratch: 

Why compare to metals or commodity? What is bitcoin made of anyway--corn, wheat, silver, gold, megabyte or air? That's one problem about something supposedly of value  but not having any physical representation and no unit of measure for its value, rather, it will just be based on the "belief bitcoin has value" whatever "bitcoin" may be.

I'll continue my answers some other time, tgif e... :D



to sum it up. "DONT USE DIGITAL CURRENCY IF YOU DONT WANT TO TAKE THE RISKS,"

End this Debate.

Ok, As a Miner and Crypto Trader, may mga kaalaman ako na pwede ko pang ishare dito, sa mga susunod na kabanata. :watchuthink:

FIRST ETO MUNA .. GUYS PLEASE READ THIS

http://finance.yahoo.com/news/uro-completes-world-first-commodity-035900449.html

Satire? hoax? This is yahoo news!!!
« Last Edit: Aug 02, 2014, 08:23 AM by foolishorient »


ferrariEverest

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Sir foolishorient, you can't really end the debate sa topics gaya nito (since technology-based ang PHCoin, Bitcoin). Mahaba-habang usapan yan, until PHCoin flops, or progresses along the path that Bitcoin is currently taking.

Marami ka pala alam. I look forward sa mga kwento at share mo sa amin.

Some other time na rin ako magdagdag, kasi weekend ngayon. Hanapin ko muna tambayan ni Ma'am bjj, hahaha! :D

Quote
I am not against virtual currency or digital payment systems (btw, inabot ko ang e-gold, alertpay and moneybookers, meron ako lahat nyan nung kabataan ko.
Ayun pala, may experience ka ma'am bjj! Ako hindi ko nagamit yan. Teka subukan ko nga compute yung age. Research muna ako. :D
« Last Edit: Aug 02, 2014, 10:02 AM by ferrariEverest »


ferrariEverest

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www.baltictimes.com/news/articles/35182/

Latvian national airline AirBaltic has become the world’s first airline to accept Bitcoin payments
"Bitcoin, a software-based payment system introduced in 2009, means payments are recorded in a public ledger with bitcoin as its unit of account. Bitcoin payments are accepted by other companies including WordPress.com, Overstock.com, Expedia, Dell, and others."

Imagine using PHCoin pag babyahe tayo sa PAL or Cebu Pacific. Gamit lang tayo ng PHCoin mobile wallet app o kaya scan yung QR code. Ok yun!


Wills

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Bitcoin.....



Is Bitcoin An Investment Or A Cult?


   
Bitcoin’s buckets of media attention — way out of proportion to its roughly $6.9 billion in value (assuming there are 12.34 million minted Bitcoins trading at $556 a piece) – leads me to conclude that the force is strong with the argument that it’s a cult.

After all, this week Tokyo-based Mt. Gox, Bitcoin’s once-dominant mechanism for exchanging real money for the virtual currency, appeared to have collapsed — in the wake of a reported theft of 740,408 Bitcoins worth about $414 million — which represents about 6% of all Bitcoins.

With Mt. Gox ceasing to process transactions, anyone with an account there is probably out of luck — after all Tokyo financial regulators are declining to help Mt. Gox customers, saying that since Bitcoins are a product rather than a currency, the regulators have no authority over it.

And that collapse is reinforcing my basic belief about Bitcoin — it’s a cult that is almost completely immune to logic. I would have expected that Bitcoin proponents would view Mt. Gox’s collapse as great news.

That’s because it would draw more media attention to Bitcoin. And that media attention would make people who own Bitcoin feel even more special — probably causing their brains to release a reinforcing dose of Dopamine.

What would it take to deprogram Bitcoin cultists? I could imagine that if I had sunk most of my savings into Bitcoin and lost it all to the Mt.Gox collapse, my wife would not be very happy with me. And perhaps there are some individuals out there who have been shaken out of their Bitcoin reverie by the realization that losing all their money would cause their personal life to collapse.

Bitcoin believers view as good news that Mt. Gox has lost market share over the last year. While it handled 80% of all Bitcoin transactions at one point in 2013, Genesis Block, a virtual currency research firm, reports that newer exchanges such as Slovenia’s Bitstamp and Bulgaria’s BTC-e have taken over where Mt. Gox left off.

I would derive less comfort from dealing with an exchange in Bulgaria — famous for its skills at hacking — than one in Tokyo. But obviously hackers know no geographic boundaries.

It’s just that if you wanted a legal authority to help you get back your Bitcoins if they were stolen, you might prefer an exchange in a country with a well-developed legal system. But if you think that way — you aren’t a Bitcoin believer.

Bitcoin has a long history of volatility due to hacks — after which its price seems to rally. After all, back in June 2011 a hacker crashed the crypto-currency — bringing its value from $17.50 down to pennies. Anyone who bought Bitcoin after that is now sitting on huge profits — even after Mt. Gox’s collapse — it trades at $556 according to CoinDesk.

But I have interviewed many Bitcoin enthusiasts and they view all bad news as good. Consider my April 2013 interview with Kent Liu – a Master’s in Material Science student at Cornell. He told me that Bitcoin has superior “fundamental principles” and prefers investing in Bitcoin to stocks “because no company can change the world.”

Another believer is Rick Falkvinge, the founder of Sweden’s Pirate political party who told the New York Times, “My thoughts and my heart go out to all of those others in the community who lost a lot more than me today. [Despite losing $80,000 in Mt. Gox I remain] absolutely bullish on Bitcoin.”

Despite all this bad news, electronic currencies could become mainstream. On the surface, they appear to be cheaper to produce than paper and coins. But governments would only adopt electronic currency if they could control its creation, assure that it could not be hacked — a feat that may be impossible to achieve, and encourage businesses to accept it as a means of payment.

But a central tenant of Bitcoin believers is that it is a stateless currency — meaning that no government can control how it is created, traded, or used.

The consequences of that belief are becoming clear to anyone who used to be able to access their Bitcoin account at Mt. Gox.

Still — the possibility that there are people who bought their Bitcoins for pennies on the dollar after the price collapsed in June 2011 and have stored them on an exchange that has not been hacked suggests that there is money to be made.

So as an investment, what separates Bitcoins from privately held stock in a start-up? Barry Silbert, who founded SecondMarket to trade such shares is now trying to set up a Bitcoin exchange.

Just as he makes money running a market to trade  private shares of hot tech start-ups, he sees potential profit in running a more mature place to trade Bitcoin.

There are important difference between Bitcoin and private shares of hot tech start-ups. There is absolutely no way to estimate what a Bitcoin should be worth — just the knowledge that there are people who want to own Bitcoin because they believe in it and the fact that there are others happy to sell them virtual picks and shovels.

There is also no way to be sure what private shares of a hot tech start-up ought to be worth. But at least a hot tech start-up has lots of people who use its product, a growing base of highly talented employees, and venture backers whose conduct is regulated by the government.

One lesson that applies to all investments that Bitcoin shares is not to put all your eggs in one basket. Bitcoin trader Kolin Burgess put all his eggs in Mt. Gox. According to USA Today, Burgess has been picketing the Tokyo officer tower housing Mt. Gox since February 14.

Quoth Burgess: “I may have lost all of my money. It hasn’t shaken my trust in Bitcoin, but it has shaken my trust in bitcoin exchanges.”

If Bitcoin cultists like Burgess cling to their desire to be free of government intervention, they should take their losses without a whimper. I just hope they have no dependents.


http://www.forbes.com/sites/petercohan/2014/02/26/is-bitcoin-an-investment-or-a-cult/2/


ferrariEverest

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Interesting article Wills. I'm not sure about the intention of the author though. :D

Kung bilang investment, risk is always inherent, so hindi dapat mag 100% sa Bitcoin.

Bitcoin, as a digital currency, is way beyond an investment. There is more to digital currencies like Bitcoin than meets the eye. Maraming pwede gawin sa digital currencies.


Gox

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I did a bit of research on PHCoin as well, and it keeps me wondering... why do they need to create PHCoin when they can just use Bitcoin? It serves the same purpose. You could also pay freelancers without fees through Bitcoin. Aside from that Bitcoin has tons of miners keeping the network secure (while PHCoin has near zero for now), and infrastructure allowing buyers to conveniently get coins through Bitcoin ATMs and exchanges.

Don't get me wrong, I support someone making the lives of freelancers better. However, he's gonna start from scratch when there is already Bitcoin. With minimal miners, the network is not gonna be secure and attackers could double spend or destroy confidence in the currency.
« Last Edit: Aug 05, 2014, 01:39 AM by Gox »


foolishorient

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Ang mt.gox ay isang third party website. Government website nga nahahack e? Pero di ako sure parang nang scam ata sila.
Kung ako tatanungin di ako maglalagay ng coins sa  website as my online wallet. No.

KAYA NGA WALLET E? wallet HINDI account! Ipapatago mo sa website ang laman ng WALLET MO!
Takot ka din baka may makialam ng pc at laptop mo?

Meron tayong paper wallet. Print mo lagay mo sa kahon lock mo at ibaun mo sa lupa ng hindi mawala. Bakit ba takot na takot ka madami bang magnanakaw jan? biro lang  :hihi:

okay. Bakit may Phcoin pa? Di  nalang bitcoin

1. Ang tagal ng confirmations ng Bitcoin to make the coins spendable. 10 min. per block kasi. Phcoin is 1 block per minute
2. Mission, wala ang bitcoin nyan
3. Ang Algorithm ng Phcoin used by the miner ay mas maganda. Compare natin.

Bitcoin's Sha256d algo
1. Malakas sa kuryente
2. Mahal ang ASIC para sa miners. Actually nalulugi na ang mga miners.

Phcoin's X11 algo
1. Tipid sa kuryente, cost effective
2. Video card lang pare.

Kung ayaw mo mag mine eto  - Proof of jobs (freelancing) proof of distribution (giveaways etc)

Bakit PHcoin talaga? Parang dinisenyo sya para satin. Gusto mo ba Darkcoin ang ipalaganap dito ginagamit sa drug dealings meron din (dopecoin, gaycoin, titcoin, sexcoin) oh yan mamili kayong lahat.

"Minimal miners" kase wala pa halos value. Kung magkakavalue yan ng mataas automatic na yan.

Isa lang naman ang ayaw kong mangyare sa PHCOIN , pag dumating ang mga CHINESE MINERS, NGANGA!

kaya kung ako sa inyo mag mine na o magtabi tabi na jan  :D
« Last Edit: Aug 05, 2014, 03:43 PM by foolishorient »


george88

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Is this spreading awareness of digital currency? Don't you know that a 28y/o successful woman in SG committed suicide after losing $400M of Bitcoin without knowing where it goes...


Gox

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Is this spreading awareness of digital currency? Don't you know that a 28y/o successful woman in SG committed suicide after losing $400M of Bitcoin without knowing where it goes...

Sorry, but hundreds (if not thousands) of people also commit suicide due to losses in the stock market. I don't think its a good enough reason to avoid digital currencies.

I know there are plenty of scams out of there. However, there's a reason why VC firms in Silicon Valley and hedge funds are putting in millions in Bitcoin...



george88

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It is good to the 1st world country with strict law implementation but not in a 3rd, lawless and corrupt country how can you purchase in a digital currency world if there will be a blackout like yolanda or glenda? Will you brag to the store owner hey I have million of Bitcoins I need rice, water and food  :rofl: :rofl: :rofl:


Wills

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However, there's a reason why VC firms in Silicon Valley and hedge funds are putting in millions in Bitcoin...



Speculation.


Gox

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Yes, and money is made when you speculate along side smart money.


Gox

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It is good to the 1st world country with strict law implementation but not in a 3rd, lawless and corrupt country how can you purchase in a digital currency world if there will be a blackout like yolanda or glenda? Will you brag to the store owner hey I have million of Bitcoins I need rice, water and food  :rofl: :rofl: :rofl:

Bitcoin doesn't even try to replace PHP or USD. It is a digital currency that allows transfers from any country in the world to another without fees. It allows OFWs to remit money for free rather than pay western union 5-8% on transactions, or sell goods online without paying Paypal or credit card companies. That is its purpose.

It doesn't try to replace a country's local currency, but offers a way for people to make cheap international payments. For sure, it would accrue to huge cost savings for those who use it.
« Last Edit: Aug 05, 2014, 09:45 PM by Gox »


george88

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Gox

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Newbie talaga ako dito sa PMT. Registered last March. Bakit fishy?  :D


george88

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Bitcoin doesn't even try to replace PHP or USD. It is a digital currency that allows transfers from any country in the world to another without fees. It allows OFWs to remit money for free rather than pay western union 5-8% on transactions, or sell goods online without paying Paypal or credit card companies. That is its purpose.

It doesn't try to replace a country's local currency, but offers a way for people to make cheap international payments. For sure, it would accrue to huge cost savings for those who use it.

So how can I have bitcoins without exchange of real money? For FREE so facebook style of services sounds cool... you mean western union or bank will give you free transaction withdrawing money in ATM for free and unlimited.


pulubing_palaboy

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Yes, and money is made when you speculate along side smart money.
are you saying you can't lose money when you speculate so long as you are alongside  smart money?


Gox

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So how can I have bitcoins without exchange of real money? For FREE so facebook style of services sounds cool... you mean western union or bank will give you free transaction withdrawing money in ATM for free and unlimited.

There are two ways to get Bitcoins: 1. Mine it, or 2. Buy it.

Here's an example of what happens when an OFW remits money from the US to the Philippines. (unfortunately, there is still minimal cost due to the spread of 1-2%, but that will get smaller in time. It's still way better than western union's 5-8% fee.)

1. Bitcoin ATMs are available in a lot of places in the US. The remitter will place $200 in the ATM machine and get 0.3436 bitcoins in his online wallet (1 bitcoin = $582).

2. The remitter will send the 0.3436 bitcoins to his family here in the Philippines for free.

3. Family in the Philippines will exchange the bitcoins from local buyers or exchanges. (one choice could be localbitcoins.com)

4. Current rate at localbitcoins.com is P24,975 = 1 bitcoin so the family will receive P8,582 or roughly $197 (1.5% fee) 


are you saying you can't lose money when you speculate so long as you are alongside  smart money?

Nope, of course you can still lose but your chances are probably better.


Wills

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Gox

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Does the rate of bitcoin moves on a daily basis?

Yes it does. You could opt to change it to your local currency quickly though to not deal with the fluctuations as the transfer time for bitcoin is just a few minutes. There are also services like Bitpay that automatically convert your bitcoins to local currency so you don't have to deal with price fluctuations if you are a merchant.


pulubing_palaboy

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Nope, of course you can still lose but your chances are probably better.
probably better? remember, the only way to know you're with the smart money is after the fact. it still boils down to speculation no matter how much research and analysis you do.


foolishorient

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bakit newbies account tagasagot dito somethings FISHY

Signed up to support FE and myself.

Im holding a lot of coins and PHcoin is the greatest of them all . :rakenrol:
« Last Edit: Aug 06, 2014, 09:27 AM by foolishorient »


Gox

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probably better? remember, the only way to know you're with the smart money is after the fact. it still boils down to speculation no matter how much research and analysis you do.

Agreed. That is a good point.

I'm just betting on these VCs and that they are the smart money, because of their track record and very strong arguments for Bitcoin.

I guess thanks for the warning.


george88

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Agreed. That is a good point.

I'm just betting on these VCs and that they are the smart money, because of their track record and very strong arguments for Bitcoin.

I guess thanks for the warning.

VC's always speculate their money grows in taking high risk on startup company 80-90% failure rate...Without VC's no Facebook, no paypal, no firefox, etc etc

If bitcoins is another form paypal goodluck read the history of paypal they almost shutdown their company due to SECURITY factor imagine of losing $1M per day...


ferrariEverest

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Dami ko na dapat backread dito. Ok yan, magbalitaktakan tayo lahat! :D

probably better? remember, the only way to know you're with the smart money is after the fact. it still boils down to speculation no matter how much research and analysis you do.
Talking about speculation or trading, we can ride the smart money moves and be in before the fact, however this is unlikely for most people. Having said that, I agree with your notion of precaution.


ferrariEverest

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Naka-beta na pala yung PHCoin jobs platform. Mag-observe muna ko.

https://www.phcoinjobs.org/

Meron sila opening for beta testers kaso full-time. https://www.phcoinjobs.org/job/phcoin-foundation-full-time-beta-testers-for-phcoin-jobs/

Maganda kung maging successful sila kasi wala silang fees gaya sa oDesk. Tapos, mabilis makukuha ang earnings sa PHCoin (minutes or seconds lang since digital currency). Sa oDesk kasi, maghintay pa ko ng minimum 5 days (pag fixed-price projects) or 1.5 weeks (earnings from hourly projects) - hindi pa kasama jan 2-4 days na pag-process ng earnings (transfer ng oDesk earnings to PayPal then to my bank or oDesk-bank transfer).


bajoyjoy

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Let's discuss it here. I'm continuing my research. Based on what I've read, magkakaroon ito ng jobs platform (parang oDesk at Elance), pwede ring pang-remittance sa OFW, at pwede rin pangbuy and sell ng products and services (just like Paypal).

I do not think it’s comparable to Paypal or other online payment methods. These are properly incorporated entities with real offices and official representatives who are subjected to all kinds of prudential regulations, and can be sued for any wrongdoing. Bitcoin do not have these features and insists on being anonymous. Whoever is/are behind bitcoin, why don’t they come out, ayaw ba nilang maging sing-yaman ni Mark Zuckerberg ng facebook, kung wala silang ginagawang masama or walang tinatago? If they really have a noble purpose of providing alternative and viable payment system, for the benefit of humankind, why not come forward and openly devote their life towards that goal? Can anyone answer this please? Dahil kaya, sa umpisa pa lang alam na nila they were violating some law in some way? And if so, any time they come into the open,  a cause of action will immediately arise. Look at Snowden, the whistleblower from Wikileaks. He risked his life because he believed he is doing the right thing even if unlawful under US laws (leaking confidential information affecting national security). We may not agree with everything he did but I can’t help but admire him for sticking his neck out and continued his crusade.

Another obvious difference is, ang Paypal and other e-payment systems are not being traded in an exchange. Even the basis for bitcoin’s tradability is questionable but since it is not regulated, anything goes.  But the trouble there is, everything will be based on trust on a stranger whom you cannot even see or touch, and no redress mechanism?

Quote

Ironically for the IMF FIAT is closer to the definition of a ponzi scheme or a fraud scheme than bitcoin. It is run by the commercial banks based on issuing debt. Commerical Banks create more FIAT simply by issuing more debt thus diluting the value of FIAT money created the day before. FIAT relies on an ever increasing flow of debt to sustain the banks and target inflation rate (dilution) of 2%.

This is oversimplifying things and just the author's opinion or spin on the economic concepts behind money and banking. It shows how narrow and lacking his understanding of the system is. There are various reliable and unbiased resources online that you can read, rather than relying on coindesk.com.  Is that even an authority site on money and banking?
However, assuming that the statement above is true, then my question is, aren’t they contradicting themselves? Coz if they really believe that, then why do they need cash/fiat in exchange of bitcoin when these users are openly condemning the evils of the fiat. Hindi ba dapat bitcoin ang inaacumulate nila at dinidispose naman ang lahat ng cash na meron sila. But that is not the case. Isn't it because in reality, it is the cash or fiat transferred to their account that has value and the bitcoin is--well hindi ko talaga alam what to make of bitcoin.


Uulitin ko, ung gumawa ng bitcoin ay anonymous, nwala na syang bigla at di na nakilala, ibigsabhin walang CEO ang bitcoin, gamitin mo pangalan nya walang magagalit sayo, dahil ang may ari nito ay ang lahat ng gumagamit nito!  :yoohoo:

That is not a plus point for bitcoin/phcoin but a strong testimonial against it because as you've explained very clearly, no one will be held accountable if something goes wrong. Anonymity is the bedrock of online crimes and scams, and also why fraud is easy to perpetrate on the internet. What happened to the former biggest bitcoin exchanger, Mt.Gox? They simply said their site or server got hacked. Ganun lang. Where are the bitcoins now?  GONE. The affected users were left ng naka-nganga and had to resort to filing fraud cases in court, not to get their money back because that surely will not happen, but just to hold someone responsible and maybe rot in jail. Here’s the latest news on Mt. Gox and I got it from a site that is most-likely a sympathizer of bitcoin,
Quote
http://www.cryptocoinsnews.com/news/tokyo-police-will-investigate-mt-gox-loss-850-000-bitcoins/2014/07/30
Tokyo Police will investigate Mt. Gox and the loss of 850 000 bitcoins
30/07/2014
Tokyo Metropolitan Police have finally launched an official investigation into the collapse of Mt Gox and the question of the missing bitcoins, abet, several months after the event.
Mark Karpeles, the CEO of Mt. Gox, has claimed that a series of alleged hacking attacks led to the Bitcoin exchange, once the World’s biggest, losing an alleged 850,000 bitcoins with a value of around half a billion US dollars. A quantity was later ‘found’ in cold storage disks. According to the Wall Street Journal, the police suspect that 27,000 of these coins were illegally removed from Mt. Gox’s systems.  Mark Karpelès stated in March that Mt. Gox had submitted documents to police requesting that the matter of the ‘disappeared’ bitcoins be investigated as a criminal act.
“We decided to launch an investigation as we concluded this case could be connected to criminal activity,” a spokesman for the Tokyo Metropolitan Police department said.
Last week a creditors meeting for Mt Gox met with Karpeles in Tokyo, but other than demanding that their payments be received in bitcoins, came to very little little resolution as to how the vast quantities of bitcoins went missing and how the matter should be addressed going forward. Toshiya Takahashi stated:
The [creditors] meeting was designed to discuss the bankruptcy process itself and they separated that from what happened to the bitcoins. What people wanted to know was what happened and why.
“I felt that they didn’t give out the answers they should have done,” claimed another unknown investor.
It remains somewhat unclear the shape and form that the police investigation will take but Mt. Gox’s court appointed trustee stated that it will most likely take “a considerable amount of time”.
Mt. Gox’s CEO Mark Karpeles blamed the Mt Gox collapse on a “weakness in our system”, but predicted that Bitcoin would continue to grow.
“First of all, I’m very sorry,” he said. “The Bitcoin industry is healthy and it is growing. It will continue, and reducing the impact is the most important point.”
The Mt. Gox exchange was used overwhelmingly by foreigners, lost 750,000 of its users’ bitcoins and 100,000 of its own. This represented about 7 percent of the estimated global total of bitcoins. People have been asking questions and openly disputing the Mt Gox version of events. They want to know the answers to a number of questions:
1.        What exactly was happening?
2.        Where did the missing bitcoins go?
3.        Can they ever be recovered?
If the Tokyo police complete a criminal investigation into the 27,000 stolen bitcoins, they will have merely scratched what may well prove to be a very deep sore. 27,000 is small potatoes in the Mt Gox scheme of things. The fact that it took Mt Gox potentially years to realize that 744,408 bitcoins had been wiped is frankly unbelievable.
We’re still waiting for the answers Mark…

You know what I think the biggest mistake and downfall of the owner of Mt. Gox -- making his identity known. Same reason for e-gold’s death in the late 2000s. Had they chosen to be plain internet characters without traceable identity, just like the bitcoin maker/s, they should now be enjoying the fruits of their accumulated virtual currencies somewhere in the Bahamas.


Gox

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I don't think its right to jump to the conclusion that someone is doing wrong if he/she wants to be anonymous. There could be countless reasons why Satoshi wants to be so. Simplest reason could be safety. If you know how Bitcoin works, you just need the wallet's private key to access all the Bitcoins in that wallet (for Satoshi, his wallet is worth about $500 million). If people knew where he lives, think of the consequences.

Second, as someone used to say: "men are weak, but ideas are forever." Maybe he wants the idea to stand for itself... Maybe he's a nerdy programmer without charisma, and he's afraid he would bring down Bitcoin?.. There could be a lot of reasons that wouldn't make him a bad guy.

As for "gusto ba niyang yumaman?", I don't think so. I read somewhere that he doesn't plan to touch his Bitcoin stash, and this could be confirmed just by checking the blockchain (Bitcoin's public ledger). Ever since the start of Bitcoin in 2009, not one Bitcoin was sold.


« Last Edit: Aug 12, 2014, 12:46 AM by Gox »


Gox

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Regarding Mt Gox....

Bitcoin is still in its infancy. As with any emerging industry, there will be failures and bad players. Just wait for it to mature, the companies that will dominate it will be stronger and more experienced.

Just a trivia, Mt Gox actually means Magic the Gathering Online Exchange... you know... the card game. These guys are just kids running an exchange. Obviously, there will be incompetencies.

Today, the SEC in the US is processing COIN, a Bitcoin ETF to be listed on NASDAQ. That one will be run by professionals with decades of experience.


foolishorient

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You know what I think the biggest mistake and downfall of the owner of Mt. Gox -- making his identity known. Same reason for e-gold’s death in the late 2000s. Had they chosen to be plain internet characters without traceable identity, just like the bitcoin maker/s, they should now be enjoying the fruits of their accumulated virtual currencies somewhere in the Bahamas.


Bitcoin's transaction is transparent as well as the 3100 lines of code in it, that's why it is called an OPEN source software. So, everyone can change the code everyone can see it, BUT in order to make it work you have to get the majority to use it. How many nerd programmers we have in the whole word which can read those codes? The only thing you should not trust here is third party websites/software like mt.gox.

Ok now, try this, you can hack bitcoin.
1. Change the code, every 2% of a certain transactions must go to your address
2. Compile it for windows/mac
3. Tell the whole world "Guys! this is the latest version please use this!"
4. Get atleast 51% of the users use your new version of wallet.
 

Satoshi can only get bitcoin in the way as what others do, buy it or mine it. Sorry there are no fruits for satoshi nakamoto unless they kept their first bitcoins.

I heard phcoin's freelancing site has escrow for more security. All of us can mine it and earn some money. Think about those other freelancing site. They charge 10% or 7%? Now who is sitting somewhere in the bahamas?
« Last Edit: Aug 12, 2014, 12:01 PM by foolishorient »


bajoyjoy

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with regulatory authorities in financial safe houses such as Switzerland and the United States having set out an entire framework for Bitcoin infrastructure

Prospera, that article got me very interested, had to take some time to study it a little. Did you agree with the author? My question is, if indeed regulatory authorities will come in (issue licenses to virtual currency firms), doesn't that defeat bitcoin's reason for being: to operate an independent/alternative currency beyond the reach of regulators? If I am a bitcoiner I will totally reject this proposed rules because if they participate or allow regulators to step in, isn't that hypocrisy  aside from the fact that it’ll inevitably mean compromising their anonymity? I don't think they'd want that... but do they have a choice?

I researched about it, and here's a link to that proposed "framework" for US/NY state - http://www.dfs.ny.gov/about/press2014/pr1407171.html

I wonder how the bitcoiners or industry players responded to that, if at all. Funny kaya ateh, meron pa talagang capital requirements, books and records, examinations, anti-money laundering, consumer protection. Ok lang sila, aren’t those exactly the things bitcoin and its users were avoiding in the first place? Any bitcoin operator based in NY should get out of that state, right now. Dahil kung susundin nila yung framework na sinasabi, mawawala na lahat ng attractive qualities ng bitcoin pati supposed benefits na naooffer nila gaya ng low cost and convenience. Imposing a capital requirement would effectively make these virtual currency firms into quasi-banks or non-bank financial institutions, therefore, under the state's direct supervision! Not so fast talaga, akala ko ba ayaw maregulate? hahaha!

If they are serious with that regulatory framework, then I think it is actually an underhanded way of killing bitcoin operators/exchangers – they are attacking not the currency system per se but the benefactors/persons. NY ang pasimula but I’m sure magsusunuran na rin ibang states, ganyan naman usually, maghihintay lang ng makokopyahan. kung ma-adopt na yang framework, either they succumb to the jurisdictional reach of the regulator/state,  or they will operate their business as in dark alleys so to speak , but that would give the regulator more reason to track them down, violation na yun e. The proposed rules is actually short of outlawing bitcoin transactions. As opposed to the author, I think this framework will be the end of anonymous virtual currency transactions, unless they obey the rules.

Anyway, here’s what’s stated in the last page of the New York State’s Department of Financial Services proposed framework:

Quote
Section 200.21 Transitional Period
A Person already engaged in Virtual Currency Business Activity must apply for a license in accordance with this Part within 45 days of the effective date of this regulation. In doing so, such applicant shall be deemed in compliance with the licensure requirements of this Part until it has been notified by the superintendent that its application has been denied, in which case it shall immediately cease operation in this state. Any Person engaged in Virtual Currency Business Activity that fails to submit an application for a license within 45 days of the effective date of this regulation shall be deemed to be conducting unlicensed Virtual Currency Business Activity.



Just like any business, to be stable and legal, it will always operate according to the terms prescribed by the relevant regulator. That's the cost of having an organized society. Once regulators come in (through this proposed framework), bitcoin as it is known today na anonymous, will cease to exist, and the question there is, may tatangkilik pa ba kung hindi na anonymous? If anything, dahil ayaw nila pasakop sa central bank ang maaring mangyari na lang dito ay ilipat ang jurisdiction from federal reserve (supposedly for banks and financial institutions) to dept of financial services (per state/locality) until magsunuran na ibang jurisdictions. but just the same bitcoin or virtual currencies (its about time, don't u think?) will be regulated and non-compliance to the prescribed rules would be considered an unlawful activity. So I think party’s gonna be over soon for US-based bitcoiners.

For bitcoin users, don't worry, I think somehere in the regulation merong exceptions, like if the bitcoin transaction is purely of purchase of products or services. just as i mentioned in my previous posts, if bitcoin has value in the mind of the users then its logical that they accumulate bitcoin and not cash. With this regulation, siguro as long as it will not entail conversion/exchange from the mythical bitcoin into physical cash/dollar, then hindi kailangan kumuha ng license or magparegister. I didn't read it fully but parang you can use bitcoin as a medium of exchange but since its not cash/fiat, its not legal tender. So pwede lang if a thing (bitcoin) is tendered in exchange for another thing (product or service) - it's like a barter. also exempt kung NY chartered exchanger yung operator. hindi rin covered if used purely for online games.

Now dito sa atin… I think I have to thank fE for bringing this (PHCoin) to our attention. :D  some months ago, buybitcoin.ph pa lang ang nakarating sa amin e.


bajoyjoy

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Ayun pala, may experience ka ma'am bjj! Ako hindi ko nagamit yan.

Yes, been there done that, kaya medyo wala ng appeal sa akin ang bitcoin.

For those na hindi ito inabutan, e-gold ang gamit naming noon sa mga online high-yield investment programs = HYIPs, yung tipong nag-offer ng 3-50% interest PER DAY. It was fun but scary dahil kahit alam namin na lokohan lang ang lahat sumasali kami as long as hindi kami ang huling papasok. Sugal talaga. And dito mismo sa PMT meron tayong official exchanger, not only e-gold but other e-money/virtual currencies, I think he profited well in that business because of his unblemished reputation. Oh well, those were the days.

Anyway, goodluck to everyone. :hello:


I don't think its right to jump to the conclusion that someone is doing wrong if he/she wants to be anonymous. There could be countless reasons why Satoshi wants to be so. Simplest reason could be safety. If you know how Bitcoin works, you just need the wallet's private key to access all the Bitcoins in that wallet (for Satoshi, his wallet is worth about $500 million). If people knew where he lives, think of the consequences.
Syempre naman, lahat tayo sa PMT anonymous, ok lang yan, wala namang perang involved e!  But try to find out kung meron dito nakipagdeal ng kahit anong transaction without knowing the other party's identity or atleast feedbacks from previous transactions or counterparties (for online store buyers and sellers). Those who proceeded based solely on trust, most likely na-scam. Kahit yung mga OFWS na nagdedeposit ng pera to another PMT member soliciting investments , somewhere down the line they will reveal themselves. Good faith ang tawag doon in legal terms, mahihiya or mattakot kang manloko kasi alam nila totoong pangalan at address mo. Pero kung talagang swindler ang pagkatao, walang pangalan na ipprotect, go lang. But the most scary is kung talagang tuso, why even give your identity diba?

Satoshi is a codename/pseudonym correct?

If he is thinking of his security, wala nga syang pwedeng ipagmalaki about his objectives here. Unahin nya ang sarili nyang kapakanan syempre, bakit naman aasa ung users ng "idea" nya na he will provide them sufficient protection and recourse? Bahala kayo sa buhay nyo ang motto right?

Quote
Second, as someone used to say: "men are weak, but ideas are forever." Maybe he wants the idea to stand for itself... Maybe he's a nerdy programmer without charisma, and he's afraid he would bring down Bitcoin?.. There could be a lot of reasons that wouldn't make him a bad guy.

As for "gusto ba niyang yumaman?", I don't think so. I read somewhere that he doesn't plan to touch his Bitcoin stash, and this could be confirmed just by checking the blockchain (Bitcoin's public ledger). Ever since the start of Bitcoin in 2009, not one Bitcoin was sold.

I said ayaw ba nya. Hindi naman yung pag-cash in nya sa bitcoin nya ang sinasabi kong way ng pagyaman. Yung LEGIT businessman or program developer or company sa silicon.

After all, once he cashes out his bitcoins, then that would again put a big dent on the bitcoin supply. more importantly, it will create panic, just like in any stock market - if the principal holders or the owner himself pull out, it causes a chain reaction and give birth to speculation that it's value has significantly deteriorate or he himself has lost confidence in it.

But still, i respect everyone's choice to put your trust in it. :)


foolishorient

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dell is now accepting bitcoin.
http://www.eweek.com/servers/dell-gets-50000-server-order-paid-in-bitcoins.html

 just sharing, ok, back to phcoin    :applause:

i hope it will be added on https://coins.ph/   as soon as possible. I cant say on buybitcoins.ph because of domain name haha

my coins are waiting!
« Last Edit: Aug 13, 2014, 07:17 PM by foolishorient »


Wills

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Wills

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ferrariEverest

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Isn't it risky for businesses to accept bitcoin? Too volatile.
Not as volatile as other currency pairs! As more businesses and companies accept bitcoin and other digital currencies, volatility will eventually ease.

In terms of volatility, PHCoin is not volatile yet. Tahimik pa siya, kaya maganda pasukin ngayon. As a speculator and professional trader, I like buying low and selling high. PHCoin is a massive opportunity for those who are ready for it.

Quote
Dell is desperate that's why.
Why desperate? Does it mean Google and Apple are desperate too?

Several big and small businesses and companies welcome new technologies and try to be ahead of the curve. The same thing applied to the Internet when it was starting out. Yahoo and Google made a lot of money off of the internet. Google remains number 1 until now. Early adopters, early bloggers, programmers, and web developers made a ton of money.

Bitcoin and other digital currencies are the Internet of money.
« Last Edit: Aug 20, 2014, 03:49 AM by ferrariEverest »


ferrariEverest

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I recommend this. Lagpas 30 minutes lang. The present state of Bitcoin https://www.youtube.com/watch?v=ggB0Wh_g33M

Andreas Antonopoulos is Blockchain.info's Chief Security Officer and ex-member and ex-committee head at Bitcoin Foundation


dicktator

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meron po ba dito nagt-trade ng BTC? kamusta naman ang behavior nya? anong time frame gamit nyo? TIA :thankyou:


Wills

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From what I know, Apple is accepting Bitcoin only to their app store. Are they accepting bitcoin for their gadgets?


foolishorient

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to all FREELANCERS out there, check out this vid

https://www.youtube.com/watch?v=IVqzQgzTAQQ


ferrariEverest

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First Bitcoin ATM in our country. PHCoin could be next!

cointelegraph.com/news/112440/indonesian-and-filipino-startups-striving-to-bring-bitcoin-to-the-mass


ferrariEverest

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More adoption means good for PHCoin holders like me and would help the economy and the Philippines as a whole. ;)

http://cointelegraph.com/news/112305/phcoin



PHCoin is a digital currency introduced as the Philippines coin.

It is impetus for a new ecosystem for a complete end-to-end solution for existing challenges that residents face. PHCoin is the affordable way to make payments in the country, and adoption from the people seems to be growing rapidly compared to the Bitcoin or other digital currencies.

It is beyond just a coin, the job economy is suffering a bit, and the phcoin team introduced PHCoinJobs.org to allow employees to begin finding a job with an escrow contract system. Escrow is built in to satisfy and protect Employees and Employers.


ferrariEverest

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May PayPal din ako. More doors will open for other digital currencies because of this news :)

http://cointelegraph.com/news/112593/us-paypal-merchants-can-accept-bitcoin-starting-today

The excitement around PayPal’s first foray into Bitcoin via Braintree is barely over, but now the company has announced its merchants will be able to opt to accept Bitcoin as payment – from today.

In a unexpectedly quick move, PayPal Senior Director of Corporate Strategy Scott Ellison announced partnerships with Coinbase, BitPay and GoCoin to facilitate immediate Bitcoin functionality to the first round of merchants based in North America.

“Today we are announcing PayPal’s next step in helping merchants accept Bitcoin payments. PayPal has entered into agreements with leading Bitcoin payment processors BitPay, Coinbase and GoCoin,” Ellison writes in a press release. “Starting today, these agreements let PayPal digital goods merchants accept Bitcoin with a simple integration through the PayPal Payments Hub.”

The advancement will take the form of an opt-in feature merchants can enable, and PayPal makes it clear that the process is not tantamount to complete integration.

“… Today’s news does not mean that PayPal has added Bitcoin as a currency in our digital wallet or that Bitcoin payments will be processed on our secure payments platform,” Ellison says. “PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers. Our approach to Bitcoin is no different.”

He added however that the options for future development remain very much open:

    “That’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop.”

The press release contains what appear to be reassurances that any dealings with Bitcoin are being carried out according to the letter of the law, and that adherence to legislation will be the main conditioning factor governing the pace and extent of future roll-outs.

Given the international presence of its Bitcoin industry partners, however, it seems safe to say that the North American market will not be alone for long.

GoCoin, which recently rolled out its payment processing service to over one thousand international businesses, is a particularly interesting addition, working extensively with Litecoin and Dogecoin payments.

“GoCoin will be launching a number of new coins in the coming month. It will be the option of the merchants which they elect to accept. From our perspective they should accept all because we insulate them from the risk,” GoCoin CEO Steve Beauregard told CoinTelegraph via email.

PayPal’s strategy would thus indeed point to consideration of the community beyond Bitcoin. Making any acceptance optional provides a significant test environment, where uptake will be measured without risk.

“In my view, PayPal has done their homework to understand the benefits to their merchants of accepting digital currencies. They are also being very strategic in partnering with the big three industry leaders each with very different approaches and with different vertical market focus,” Beauregard continues.

“The ultimate decision which digital currency payments processor is selected will be in the hands of the merchants yet PayPal will benefit in all cases.”

PayPal meanwhile also mentioned it will continue its preexisting support for Bitcoin mining equipment sales, but will stop short of working with providers who pre-sell prior to release.

“This is consistent with our approach to pre-sales of other goods; we hold off anytime we determine that pre-selling may not provide a good buyer experience,” Ellison explains.

The latest news is set to reshape the community response to Bitcoin acceptance among major fiat-based payment entities. The classic discussion of how Bitcoin ‘is better’ than PayPal, in particular, will take on a different form as the two options slowly become more extensively amalgamated.

What remains to be seen is how Bitcoin, or indeed other currencies in future, will be supported at the customer level; whether the knowledge is in place to deal with a new area of queries, complaints and disputes, and the realities of integrating Bitcoin’s ideals with PayPal’s own.


ferrariEverest

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The growing popularity of digital currencies is becoming more evident. Malaking news yan kasi PayPal has about 200 million accounts in +/- 200 countries. Mas lalawak ang market ng Bitcoin and other digital currencies like PHCoin. Yun ang dapat hintayin natin!

China has its own payment processors like PayPal and may chance na gayahin nila ang PayPal.

3 months ago, Ebay CEO expressed inevitable integration of digital currencies
http://cointelegraph.com/news/111705/ebay_ceo_paypal_will_have_to_integrate_digital_currencies
This is expected. They operate a business and they want to widen market share.
« Last Edit: Sep 25, 2014, 01:51 PM by ferrariEverest »


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GomerMagtibay

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Anyone can invent his or her own coin and tell the world it has a lot of potential. But the question is, what's the infrastructure supporting it? Will there be merchants accepting it? How about the mining and verification?


 


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