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It sucks to be broke again.

My Lower-Middle Class Family
I grew up watching my mom and dad fighting over money. They weren’t two funny leprechauns fighting over a bag of gold. They were two adults yelling at each other about things I couldn’t understand.
My dad was the only one with an income at the time; my mom had quit her job to take care of me and my brother at home. Despite working at an office in an airport, my dad’s pay was small. Maybe something about being under a manpower company. Understandably, my dad wanted to be thrifty. He’s barely able to save money however. My mom on the other hand thinks its better to invest that money. She’s right but sadly she makes very bad investments.
My mom is basically a junkie for make-money-fast schemes. Multilevel marketing with magical supplements that can cure any ailment? She’s done it. Making commission off helping sell property? Yup. Hey, have you heard about bitcoin? Yeah, you should see the facebook groups and group chats she’s in. Did she make money off any of this? Yeah, a bit, but not enough to cover her own expenses and the time she spent attending events and meetings. Long-story short, she’s bad with money. To make things worse, she also buys a lot of crap we don’t need. In the Philippines we have a lot of thrift stores and my mom can’t stop spending money on clothes and kitchen appliances. She’s actually kind of a hoarder but that’s a story for another time.
So, it’s not a surprise that my mom and dad fight a lot about money. Well, not really fight. My dad just gets really upset when my mom asks him for money knowing that she’ll buy something stupid with it. He always angrily yells out things like “Magdahan-dahan naman kayo sa paghingi ng pera” (~“Stop asking for money all the time”) and “Di naman kayo ang nagbabayad” (“You’re not the ones who pay”). Note that ‘kayo’ in Filipino is the plural form of ‘you’ which means he’s addressing everyone at home.
That got to me. Even if I needed money for school, I’d refrain from asking my dad for money. The idea of stressing him out stressed me out too, so as much as I could, I tried not to ask for any money from him, other than my daily allowance of P100 (~$2) which was barely enough to get a snack and to pay the fares.
Our home might better show how broke we really are. For about three years now, our front door was kept shut by a bolt-lock when everyone’s inside and a padlock when everyone’s out. The door has rotten and fallen apart and my dad just haphazardly pieced it together. One good kick is all it will take to open that up then we’ll get robbed. I’m surprised we still haven’t been. Then there’s our ceiling which is literally falling apart, thanks to the many cats running around in it. We also have malnourished dogs; I’m not proud of that. I’m not proud of any of this.
Being Broke in College
Here’s a fun fact: about a year after my ex and I separated, I asked if I could get a loan from her because I needed to buy a laptop. A few months later I add another loan for an expensive project at uni. When I told my current girlfriend about this she was just like “Oh my god, David.” I’m guessing she won’t be lending me any money if we break up.
Kidding aside, I did have a lot of expenses in uni, and never enough money. The only reason I’m able to study in the university is my scholarship. I only bought a laptop in my fifth year in college, and yes, I really did borrow money from my ex for it.
I tried different thrifty strategies. I tried packing lunch. I tried walking instead of riding public tranpo, to save a few coins. Sometimes I’d walk home just because I didn’t have any money left at all. What small money I had saved was never enough whenever I had stuff to pay for. My only relief was my small stipend from my undergrad scholarship. It wasn’t a lot, but it certainly helped.
Realizing how broke I was, I wanted to make some money. I needed to. That’s when I started tutoring.
What I liked about tutoring is how easy it was for me. Oh, your son needs help with linear algebra? Easy shit. Polynomials? Pffft, nothing an engineering student couldn’t handle. World history? Wait, I’m gonna have to review that first. In all seriousness, I think I’m a good tutor. All my students have said so themselves. And the pay was good enough for me, at my highest I made an extra P2400 a week. It was nice being able to go to the canteen and not having to look for the cheapest item on the menu.
What I didn’t like about tutoring was the time it took from me. I could be working on that paper but here I am commuting on the train. I could be studying for that test but here I am teaching a kid how to combine variables. It was a necessary tradeoff. My grades suffered a bit but not enough that I had to worry about losing my scholarship. So, I tutored for a few years more.
The Climb Out
Eventually, I graduated, 2018. Finished cum luade, thank you very much (although I always regret not pushing a bit harder to make it to magna cum laude). Instead of preparing for the board exams and eventually joining the work force, I decided it would be better to take graduate studies, this time in computer science.
It was a good decision. The government offers scholarships for full-time graduate students with a competitive monthly allowance. This was it. This was the financial stability I was hoping for. I’ll finally be able to get that god damned door fixed.
A few weeks ago I signed the contract. I was officially a scholar. They gave me a bank account for the money they’ll give me every month. Never really had a bank account before. Neat. A few weeks later the first few allowances come in. I have five digits in my account, close to six. Nice. I pay off my debt to my ex (we’re in good terms, really). I buy a kindle to help me study; it’s secondhand. I’m still cheap. I also buy more dog food. I look at the price of doors online.
Most importantly, I was also planning ahead and considering making some investments. Banks won’t grow my money. I need to make an investment. I compare different trust funds, bonds, and investment options. I consider getting a small franchise, money I’m willing to lose. I also want to get my teeth done, and get my stomach checked. I install the moneylover app. I make budgets. I also tell my dad to stop giving my daily allowance. I don’t need it anymore.
I didn’t realize it at the time but I was genuinely happy then. I was finally getting my shit together. I was starting to be financially capable and I focused on my studies, no more tutoring on the side needed. Then suddenly…
My Mom Falls Ill
At first it was just a bad case of sinusitis. My dad had been able to save lately, with two kids out of college after all. He paid for the expenses and she was out in a day. The problem is, she doesn’t get better. She only gets worse. Three weeks after the first ER visit, we find a tumor in her head, a cyst in her liver, and a mass in her lungs.
Years of smoking. The results of her biopsy are not in yet but it’s most likely cancer, and it’s most likely spread from the lungs to different parts of her. The doctors warn us that treatment is gonna be pricey. Treatment hasn’t even started yet but our money is already being drained by the medical expenses. I withdrew most my cash and gave it to my dad. Right now there’s only enough there to keep the account open. My dad has been withdrawing most of his cash too. My brother is helping too, but he’s making so little money being a on-call photographer. We’re begging family and friends to help. The expenses keep piling up. One time I was at a pharmacy buying an antibiotic called ertapenem and when the pharmacist told me how much it cost I actually yelled out ‘WHAT?’, thinking that there must be some kind of mistake.
I’m not sure we can keep this up. I’m not sure I can. This is just pre-treatment expenses. There might be chemo, surgery, probably more things ahead. Our doctor gave us an estimate of how much her brain surgery might cost. Our combined bank accounts can barely cover a third of it. It’s stressing me so much that I’m getting migraines just thinking about it, and I constantly think about it. Other times I just want to break down and cry. I haven’t so far.
Big picture, I tell myself. Big picture. The money will probably come. Your relatives are well off; well better than you. Don’t worry about it. Help will come. You’ll afford it. Somehow.
But Will It Be Enough?
I was expecting my mom to get sick soon enough. She’s turning 63 this year and (was) an active smoker. I was just hoping it would be a few years from now, when I’ve had some money saved up, or some sort of business running, or maybe moved somewhere where healthcare is more affordable. I was hoping it would happen later, when I could take care of her better. Now, I’m just hoping it would happen sooner.
I just want her to go now. I just want her to fall asleep and not wake up. It would be so much easier that way. The expenses will stop racking up and we’ll be able to chip at it. Of course, that’s not what I really want. What I really want is for it to be over. I want her to be instantly healed, to be discharged good as new, as soon as possible. I want that so badly that I dreamt it a few nights ago. Sadly, that’s all it was. Just a dream.
Whenever I think about the brain surgery and the chemo she might go through, I can’t help but feel doubtful that any of it would help. Even if it did, her old age would just bring in more illnesses, more pains, more expenses we can’t afford. Her surviving this ordeal would just mean longer medical bills in the future.
I’m sorry for being selfish, reddit. I don’t want to be buried in debt; I don’t want to be financially disabled again. It’s really. Fucking. Hard. To live like that. I want financial security. I want to make investments. I want them now because growth takes a long time and I don’t want my future children enduring this pain I’m going through when I’m old. I want her to die. I’m sorry, mom.


(I also want that god damned door fixed.)


If you made it here, thank you.
First of all, don’t you have shit to do? Anyway, thank you for reading this. I really just wanted to vent out how I’m feeling about all that I’m going through. If you read most of what’s on here, thanks. I’m imaging us sitting in a circle like in AA meetings and talking about our problems, and this rant is my turn to speak. I feel devastated about all this. Having written this is a comfort.
For now, I don’t really have a choice but to go along with the motions. If the doctors say chemo might work, we’re probably gonna go for it. My mom also needs brain surgery to remove a tumor in her head, but that will have to come after the chemo, or way before. Most of my stipend will probably go to her medical expenses; I just hope it doesn’t arrive late when we need it. I’m just gonna have to go back to being thrifty again.
I’m also looking into government agencies and NGO's that can help. A kind lady at the hospital gave me some advice on how I can politely ask for help from senators and congressmen. Relatives abroad are also sending some money. If worse comes to worse, we might start selling some stuff at home. Well, this laptop is pretty old anyway.
submitted by AHarardLeap to rant [link] [comments]

Advice for American moving to Philippines?

I'm 40, semi retired. I sold my computer tech company in December and, while I'm not crazy rich, I have enough to survive and live much more comfortably.
With my daughter off to college in August, I have no ties where I live now... no family to speak of, no business, no child and no girlfriend. As such, I am looking to move to the Philippines in November of this year. Well, I'm going over for six months to see if I can "make a go of it" as it were... i.e., find enough income to pay just my expenses (which I estimate at 100k pesos per month).
I'm looking to see if someone can answer the one question I have and if anyone knows a lead on work I could perform while I'm there so bear with me, this one might be a little long:
Question: I was told that, if I do not have an outbound ticket when I come through customs, I may have to buy one on the spot... I have an outbound ticket for March, four months after arrival but since that's not within the 30-days of visa-free travel, I did not know if it would "count"... will I need to buy an outbound ticket within 30 days too or will this suffice?
Skills:
I currently teach Bitcoin and Crypto currencies over here in the states and online (website: www.mycrypto.guru - we are changing it next week over to a direct hourly consulting site and selling all classes on Udemy instead). I've emailed 15 colleges in Manila to see if they would like to add a Bitcoin class to their lineup but only one even has replied so far.
Former business handled anything computer related: fixing and building computers, repairing them, cleaning viruses etc all the way up to network engineering, data security, encryption systems, etc... over the last few years I handled the higher end projects we got in to but I'm capable of handling everything from start the finish.
Skilled in running a moderately busy Airbnb group of listings so hospitality is something I could work in as well... more "buy a resort" but I know I can't own land and I don't plan on getting married any time soon so this is off the plate for a while. Unless someone wanted to partner, I'm open to that idea.
I thought about several possible business ideas... I'm a pretty decent network engineer so one thought that occurred to me was hourly-charged public wifi. I realize this would not work for the Filipino people themselves as they have cellular Internet but tourists don't and my cell phone (from Verizon at the time) could not get Internet more than a few minutes at a time. I would pay $0.25 an hour to get it from restaurants in tourist areas just to have it when I needed to upload something or talk to my kid.
I also thought I would do well in real estate helping expats move to the country. As an American, I understand their concerns more, my English is more conversational, I know how they lived back home, etc. I thought it might be a good way to cater to a particular crowd but can I even get hired by a company for this? Is there anyone who would even want me? I know there's a Visa requirement but I'm asking more in the: would a Filipino company consider me since I'm not Filipino?
Any other advice you could offer would be great. I'd love to get feedback. All I know right now is that I can't stay here and everyone I met in the Philippines were amazing... friendly, happy, just great. It's hard to find here the happiness you guys seem to wake up with over there. You're the people I want to spend my time with.
submitted by comp21 to Philippines [link] [comments]

Philippine Bitcoin Wallet App Coins.ph Reaches 5 Million Customers

Coins.ph, a mobile payment app that offers a cryptocurrency wallet in the Philippines, now has more than 5 million customers, the company announced on its website.
Founded four years ago, Coins.ph operates a variety of financial services, including a cryptocurrency exchange. Ron Hose, founder and CEO, credited the company’s rapid growth to its focus on creating financial inclusion to Filipinos.
Customers use Coin.ph’s apps to access financial services such as cross-border remittances, purchasing digital currencies, topping up their beep stored value card, paying bills and buying “load” (mobile promotional networks) – all without requiring a bank account.
The wallet also announced it is now supporting Ethereum in addition to bitcoin in the interest of offering smart contract based financial services, and next month it will support Bitcoin Cash in order to support lower costing blockchain based payments.

Diverse Financial Services

The company noted that its blockchain based ecosystems allow customers to access a wide range of financial services.
A “Scan & Pay” QR code allows users to earn a 5% rebate up to Php25 at participating merchants that display the QR code. The website lists a number of participating merchants. For merchants, there is no fee for participating.
Customers can cash out using their mobile wallets at 450 participating ATMs nationwide. The service is facilitated by a third party, Security Bank.
The company also offers exclusive promotions on its website, as well as Steam game credits.

Cryptocurrency Exchange

Coinsph’s cryptocurrency exchange, called CX, offers trades for bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. Customers can buy cryptocurrency with Philippine peso, for as low as five basis points (0.05%) in fees per trade based on volume. There are no restrictions on trading volumes.
The exchange’s goal is to reduce the cost of buying and selling digital currency in the Philippines.
Coins.ph secured a certificate of registration from the Bangko Sentral ng Pilipinas, the Philippines central bank, in 2017 to operate as a cryptocurrency exchange, according to the Coin.ph website.
submitted by s_RAJs to BitcoinMarkets [link] [comments]

Best of Buttcoin: 2014

There's been some fantastic work done in this subreddit spreading disinformation researching, criticising, and debunking bitcoin and its sacred cows over the past year, which I would like to celebrate.
So here's some posts I saved on bitcoin-related topics. But I started saving things too late... So if you have and/or remember any great posts from the past year, dig them up and post them here.
Also, unironically, maybe someone should start a buttcoin wiki

First, three pieces of investigative journalism from Buttcoin's top minds. Here Charlie_Shrem examines the environmental impact of bitcoin mining. Key finding: For every Bitcoin transaction, 47 kilograms of CO2 is released into the atmosphere from the miners alone.
Current hash rate: 261,900,382 GH/s
Number of transactions per day: 71,331
If we assume rather conservatively that 1GH/s = 1 watt on average, then this would mean 261,900,382W is being used to power the network. We can simplify this to 261,900 kW.
Some miners can do better than 1W per 1GH/s, but many if not most do worse (i.e. 2W per 1GH/s to 10W per 1GH/s).
Going by the figure of 0.527kg CO2 / kWh found on this page,
0.527kg CO2 x 261,900 kW x 24 hours = 3,312,511.2 kg CO2 per day
Now,
3,312,511.2 kg CO2 / 71,331 transactions = 46.44 kg CO2 per transaction
For comparison, even going by this Coindesk Article, an ATM produces daily 3.162kg in CO2 emissions.
0.25kwH x 0.527kg CO2 x 24 hours = 3.162kg/day.
That means that the carbon emission for one Bitcoin transaction is equivalent to about 15 ATMs processing perhaps hundreds or thousands of transactions in a day combined.

Earlier this month Frankeh abruptly interrupted remittance-focused annular onanism by issuing a challenge: to find a single instance where bitcoin works out cheaper than a fiat alternative. In case you need to ask... Nope.
Right, there's a bunch of circlejerking happening in /Bitcoin right now so I think it's time to cut through the bullshit one way or another.
Country to send money to.
The biggest remittance markets are China, Indian and the Philippines.
I believe that since /Bitcoin often gives the Philippines as an example of successful Bitcoin remittance then it is the perfect country to use in our challenge.
Country to send money from.
According to this wikipedia article Malaysia and Canada have the biggest expat Filipino communities. 900,000 and 500,000.
So I think we should do the calculations based on both countries.
The methodology
Most people are not paid in Bitcoin. This is a fact. So for our calculation you must start with fiat, and end in fiat. We're not doing these calculations based on future utility of Bitcoin (No, neo. I'm saying...), we're doing them on the current utility.
We will also be doing a bank to bank remittance, because that is nice an constant. We don't need to take into account pick up locations Bitcoin remittance allows and pick up locations normal remittance allows. They'll vary too much.
Time will also not be taken into account, as time doesn't actually matter when it comes to remittance. Now, Bitcoiners might shout about this particular rule but let me explain my logic behind this.
A foreign worker gets paid every Friday. They start the remittance process on the Friday and regardless of if it takes 0, 3, or 5 days their family back in their home country just needs to base their life around money coming in on remitters pay day + 0, 3, or 5 days. Time taken is of no real value when it comes to remittance. All that matters is that it consistently arrives on day x.
As such, any remittance services that take over 5 working days are to be ignored for the sake of this challenge.
The amount
The amount is going to be 25% of the average wage in each of the countries. This isn't extremely scientific because it doesn't particularly need to be, and the figures are hard to come by.
So 1826.75 MYR for Malaysia and 1,398 CAD for Canada.
Don't bother complaining about these, they're just examples.
Few more ground rules
  • We're going to be going from bank/bank card to bank regardless, so we're not interested in banking fees on either side. They will be the same regardless of Bitcoin or WU (for example)
  • It must be from local fiat to foreign fiat.. You can't palm off the conversion fee to the receivers bank to keep fees down.
  • Any remittance service can be used, as long as Bitcoin is involved for people fighting the Bitcoin corner and Bitcoin isn't used for people fighting the WU (or similar) corner.
  • You must go through the process and document all the fees for each. Fees to look out for are currency spreads, transaction fees on exchanges, etc

Finally a recent thread, but commendable all the same. Hodldown presents some research leading to facts overturning years of knowledge in the bitcoin wiki. Even us shills have been laughing at bitcoin's pathetic capability of 7 transactions per second. It turns out, we were out by at least a factor of 2:
The average number of transactions per block right now is: 665 transactions
The average block size is 0.372731752748842mb.
That means the average transaction is 0.00056049887mb. Which means 1mb of transactions (the limit) is 1784 transactions
Assuming a 10 minute block (a whole other can of worms) that means there is 10*60 seconds.
1784/600 isn't 7. It's a 2.97.
Bitcoin at a technical level can not handle even 3 transactions per second.

In one of the frequent bitcoin user invasions, PayingWithActualMone outlines why the "solution in search of a problem" isn't that great of a solution to much either.
On the transaction side: the Bitcoin community seems convinced that banks are ripping them off (which imo they are not), and that it can be fixed by applying some magicsauce over a transaction that is facilitated by banks regardless. So far in practice I haven't seen any evidence of the 'fast' 'cheap' and 'easy' transactions, like most recently with Mollie. They usually compare the fees of BTC>BTC transactions to the fees of Chase Mastercard > a fucking nomad in the Sahara (with consumer protection) to prove their point. The community also seems convinced that the entire world banks the way America does, not realizing that in Europe banking has been dirt cheap for years.
And the security... oh boy the security. Half the population can't manage to go without a virus for one year (not an actual statistic), and now you expect them to secure their coins? People are dumb as shit, and software is always one step behind the exploits. We could of course create Bitcoin banks, but then there isn't much left of the original idea.
On the 'intrinsic value' side: what the hell is wrong with people. If the underlying product is no good in any aspect, why is it worth much? Right now (that's like 5 years after introduction mind you) BTC is used in 3 types of transactions: Silk Road, SatoshiDice & extremely questionable transactions. It does its job well in that aspect, and that's all it will ever be. The community just turned the technology into a giant ponzi, and they don't care as long as they get paid. The people actually doing business in Bitcoin probably don't care about the price that much.

Someone who deleted their account, on the argument that merchant adoption is a cause of the price drop:
That's just an excuse butters use for the price going down.
There's no real difference between selling bitcoin for fiat and exchanging bitcoin for goods and services. Both are a form of sale of bitcoin, an expression of preference for something other than bitcoin.
If on balance, there's more flow of bitcoin into fiat, goods or services than there is a corresponding opposing flow, then it is simply the market expressing the view that bitcoin is overvalued. Therefore, the reduction in the value of bitcoin (as valued in fiat) is a sincere expression of the market's view of what the correct price for bitcoin is.
Think of an example: A true believer has 20 BTC. He exchanges 10 BTC with Dell for a whizzy server. Dell (or another intermediary) sell the 10 BTC at an exchange in return for fiat. The market price of BTC goes down.
The price goes down, simply because a true believer cut his bitcoin holding, he got out. He thought having a server now was worth more to him than 10 tickets to the moon. Which is an expression of a negative view of the future value of bitcoin. A simple "aggressive" sale in trading parlance.

A late entry from jstolfi. A concise description of the Satoshi/Bitcoin origin story .
My understanding is that "Satoshi" had been trying to solve the technical problem of convincing a bunch of anonymous, volunteers to maintain and protect a distributed ledger, with no central authority.
He thought that he had a solution, in the form of a protocol that included PoW, miner rewards, longest chain, etc. The solution seemed to work on paper; but, as a good scientist, he started an experiment in order to check whether it would also work in practice.
For that experiment to be meaningful, it would have been enough if the coin was mined for several years only by a few hundred computer nerds, with the cooperation of some friendly pizza places and bars.
The US$ price of the coin was not important to the experiment, and it was never meant to be a weapon for libertarians, a way to buy drugs or evade taxes, a competitor to credit cards or Western Union, a sound investment or item for day-trading. All those "goals" were tacked onto it afterwards.

bob237 comments on the the absurdity of coinbase and it's touted 'rebuy' scheme,
It gets even better than that, actually. A lot of bitcoiners don't like 'losing' bitcoin, and so coinbase added a popular 'repurchase bitcoin' feature that automatically debits your bank account to replenish the BTC in your coinbase account after a purchase.
The ultimate result then is that you pay coinbase fiat, they take their cut, and then send that fiat on to the merchant. All 'bitcoins' used in the middle of the transaction are not really bitcoins, but just abstractions in coinbase's internal [off-chain] accounting system.
It's a crap version of paypal, no consumer protection and a ton of fees hidden in the spread when you buy your chuck-e-cheese tokens from them.

saigonsquare explains why ubiquitous tipping isn't the the killer app that it has been touted as, and why bitcoiners may fail to grasp this
Most people understand that there are different sorts of interaction. There are purely social interactions, there are quid-pro-quo interactions, and there are market interactions. Mixing those up causes embarrassment and insult. I wouldn't try to pay my mother-in-law ten bucks for cooking Christmas dinner, and I certainly wouldn't try to pay her ten cents. If a waiter suggests I try the raspberry tart, I won't get away with offering to bake him some cookies next week in compensation; if an office mate suggests I have a slice of her birthday cake, I'll be insulted if she brings me a bill for it. If I spend an hour helping my friend move apartments and he thanks me, I'm fine; we're friends helping each other out. If he pays me two bucks, I'm insulted; he's canceled the social nature of the interaction and instead simply bought my labor for a fraction of its going rate. I'm up two bucks but down a friend.
Ancapspergers, not particularly understanding any sort of interaction more complicated than buying a cheeseburger at Wendy's, assume that all interactions are a form of market transaction, and set pricing accordingly. Normal humans get offended by a penny shaving, because it cancels the social nature of the interaction and turns it into a market transaction--and then informs the recipient that his contribution to the transaction was of negligible value.
submitted by occasionallyrude to Buttcoin [link] [comments]

It has been six months since three of my friends and I decided to start a Bitcoin startup company, and about five weeks since we launched our first venture here in the Philippines called Bitmarket.ph. It has been one crazy, fast, and helluva fun ride so far. I just wanted to share our story.

Too long; Won’t read: Working in a Bitcoin startup is damn fun and pretty awesome.
What a ride this has been so far. IT MOVES SO FAST. It is absolutely exhilarating. We went from four friends thinking of starting a Bitcoin company to having a nine-person full time team of developers, designers, and marketing people in a span of a few months. From using a conference room to having our own office and then needing to expand into a bigger office soon. From talking about Bitcoin in obscure places with random people to explaining Bitcoin on National television and being featured in local publications. From thinking of selling local art for Bitcoin to starting Bitmarket.ph and many other Bitcoin related ventures down the pipeline to launch very soon. We’ve meet so many new people from everywhere in the world. It is so much fun, so dynamic, and the possibilities seem endless. All of this from where you might least expect it, The Philippines.
I am one of the co-founders of Bitmarket.ph, a Bitcoin payment processing company (in beta stages) and our first venture under the banner of Satoshi Citadel Industries Inc. (a holding company for different Cryptocurrency ventures). What’s different about what we are doing is that we are focusing on developing the local Bitcoin economy here in the Philippines.
For those unfamiliar with this country, it is a tiny archipelago of 7,107 islands in Southeast Asia with a population of 100 million. Why should Bitcoin matter here? Well, we love the Internet here. We are the number one users of social media in the world and until recently was the SMS capital of the world with over 1 billion messages sent per day.. Combining this with the fact that only a tiny amount of Filipinos have a bank account and even less have a credit card, it creates a unique recipe for what is considered e-commerce in the country. People actually sell products and services using social media sites like Facebook and Instagram. Thousands of small entrepreneurs who can’t afford hosting or buying a domain, much less afford the fees and requirements of accepting credit cards and/or paypal, rely on a cash transactions system where buyers have physically meet up or go to a bank and make a payment, and then send a photo of their bank slip to the seller before the seller can have the order shipped.
We put together a great team to actively seek these small entrepreneurs and educate them about Bitcoin, ultimately empowering them with this technology by allowing them to accept digital payments at no cost or risk, from anywhere in the world. This is an amazing and powerful thing. To really understand the power of the technology behind Bitcoin, you have to look at where it is needed most. We believe this is a step in the right direction towards Bitcoin’s success. Of course, we also go after regular merchants and even brick and mortar stores and restaurants as well. We even signed up Silk Road in the Philippines! The good thing about Bitcoin is that it does not care whether you have a million dollar business or a tiny facebook store. It works just the same for everyone.
It has been only about a month since we had our entire team on board. We spent January to May building, planning, brainstorming, preparing, hiring, and of course a lot of coding from our tireless developers. We now have 60+ merchants signed up and it is growing fast. We’re expecting to have hundreds more sign up, and are targeting at least 1,000 by the end of the year. People are now coming up to us asking about how they can accept Bitcoin. The overall reception here has been overwhelmingly positive, even with the mainstream media.
Another thing about the Philippines is that we have the third largest remittance numbers in the world, with first and second going to countries with ten times the population (China and India). Just last year alone, our remittance numbers reached almost $23 Billion. This is because more than 12 million Filipinos work abroad. Legacy payment systems like Western Union and others make a killing off of these remittances, taking 5-10% easily, plus 5-7 business days to even clear. Bitcoin can change this. Our team is actively pouring in the time and effort into creating a service to address this need using the Blockchain and Bitcoin as we speak.
Manila has also recently been crowned “The Selfie Capital of the World”. I don’t know if this is something to be proud of, but it is what it is! :) We’re taking advantage of this and are in the final stages of Alpha testing our website where you can turn “selfies” and “likes” into Bitcoin. Bitcoin isn't supposed to be all serious business! We believe in having fun and creating engaging applications too.
Another thing that surprised us is that we have also been approached by several venture capitalists both local and international, to ask about funding and what our plans are for the future. Nothing too big or crazy. So far we have been fully self-funded and remain so. We don’t know for how long but we hope until we at least have some “proof-of-work” and have shown our capabilities.
Last but not least, through this subreddit and the local Bitcoin community, we have collectively raised over $3,000 dollars worth of Bitcoin for two different charitable causes. The generosity of the people here is simply amazing.
It is amazing what can happen in such a short amount of time and seeing first hand the future applications and possibilities of the Bitcoin technology unfold right before your very eyes. And more importantly, we feel privileged that we are not just spectators but are actively participating in building the early foundations of what we believe to be an important step in making this technology mature and develop into something that can make a big difference.
The best part is that we know that almost everywhere in the world, the same thing is happening. A bunch of passionate people putting in the time, effort, resources, and brain power all focused on developing and applying the technology of Bitcoin and the blockchain for real world applications. If you put enough capable people on a mission to create something good, great things happen. The Price of one Bitcoin is truly the least exciting thing about it.
That's about it for now. Sorry for the wall of text. We're very excited about the next 12-24 months. Great things are going to happen!
If you guys have any comments, criticisms, or questions, please feel free to fire away. Thanks!
submitted by Godfreee to Bitcoin [link] [comments]

FIVE CRYPTOCURRENCY EXCHANGES APPROVED BY THE CENTRAL BANK OF THE PHILIPPINES

FIVE CRYPTOCURRENCY EXCHANGES APPROVED BY THE CENTRAL BANK OF THE PHILIPPINES

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Cryptocurrency has been on the rise in the Philippines. The central bank of the Philippines (BSP) and the Securities and Exchange Commission (SEC) are open for adoption of cryptocurrency and blockchain technology. They are working towards regulating cryptocurrencies to protect the Filipino people who will buy or invest in cryptocurrency. As of now, there are a total of five cryptocurrency exchanges that have been approved by the Philippine government.
The 5 cryptocurrency exchanges are:
  1. COINS PRO
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First on the list is Coins pro or CX, it was approved by the BSP last September 2017. Coins Pro is the first cryptocurrency exchange in the Philippines. It is a product serviced by COINS.PH, the most trusted digital wallet here in the Philippines.
Coins Pro is a digital currency exchange that operates in the Philippines that offers a secure and easy way for the customer to buy and sell their digital assets online. It is a platform where buyers can connect with sellers and exchange their digital assets at the prices determined by the market.
Customers can buy other digital currency using the Philippine peso. Unlike other exchange, Filipino Traders have to buy USD first then buy other digital currency. But here in Coins Pro, you can directly buy other digital currency using Philippine peso.
You can watch this video to know how to trade in Coins Pro: https://www.youtube.com/watch?v=Vpk5REQOyZk
Official site: https://pro.coins.asia/
2. REBIT.PH

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Rebit.ph received its license on October 2017. It is a service of Satoshi Citadel Industries one of the pioneers of blockchain companies in the Philippines.
Rebit.ph is a company that holds bitcoin-related ventures such as:
  • Buybitcoin.ph — Bitcoin buy and sell website
  • Bitbit — Peso and Crypto wallet
  • Rebit — Remit money to the Philippines using bitcoin
  • Citadax — Cryptocurrency Exchange
Official Site: https://sci.ph/
3. BLOOM SOLUTIONS
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Bloom Solutions approved by the BSP in May 2018. It supports three countries and hundreds of payout channels.
Using BloomRemit API, they offer the technology to other remittance centers in order to upgrade traditional platforms, and it combines technology like blockchain and cryptocurrency to make remittances faster and cheaper.
Official Site: https://www.bloom.solutions/
4. Virtual Currency Philippines Inc.

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Virtual Currency Philippines Inc. received its license in the BSP in February 2018. It supports millions of users around the world.
Virtual Currency Philippines Inc aims to provide its users with a safe and regulated trading environment. It is a virtual currency exchange that supports bitcoin and Ethereum, and soon they will support other tokens too.
Official Site: https://www.vhcex.com/
5. ETranss

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Etranss has been approved by the BSP in July 2018. The most secure way to trade fiat and crypto to facilitate remittances and also to provide financial inclusions to OFWs.
Etranss aims to lower the cost of overseas remittances through the use of digital currencies. They believe that everyone deserves an exceptional financial service, not only for the privileged and powerful people.
Official Site: http://www.etranss.io/
Soon, there will be more cryptocurrency exchange here in the Philippines since this country is adopting to cryptocurrency and blockchain technology.
The central bank of the Philippines Director Chuchi Fonacier said that there are more upcoming crypto exchange companies that want to have a virtual currency exchange license but acquiring a license may vary.
I hope you found this article informative, for more please visit: https://www.reddit.com/useJessyyyM
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submitted by JessyyyM to u/JessyyyM [link] [comments]

Bitcoin Guide for Amazon Affiliates and Mechanical Turks

Mechanical Turks (MTurks) and Amazon Affiliates provide valuable services empowering users globally to earn income by performing virtual surveys or advertising products on blogs and forums.
But both programs share a problem that Purse solves through Bitcoin. Research shows over 50% of MTurks and Affiliates reside outside of countries where Amazon operates, including India, Indonesia, and the Philippines.
While cash out methods for American and European residents are quick and free, in countries like Indonesia, users have two payout options: a USD check in the mail (1-2 months) or Amazon gift card balance (instant). So users are often left with having to wait for the check or receive credits for a site they can’t use without paying $30-40 in shipping fees.
Bitcoin and Purse offer a quicker and cheaper way to convert Amazon gift cards into Indian Rupees (INR), Indonesian Rupiah (IDR), or Filipino Pesos (PHP).
  1. When cashing out on Amazon, select the gift card or credits option.
  2. Sign up for Purse and click “Buy BTC.” After selecting an item that fits your budget, purchase the items on Amazon.
  3. Once items are delivered to the other party, you will receive bitcoin.
After receiving bitcoin, you can sell them at your local exchange.
submitted by PurseIO to Bitcoin [link] [comments]

Coigg Financial Group Inc. a Philippine Cryptocurrency Bitcoin Trading & Investment Group

The Philippines first order book cryptocurrency exchange backed by Ruby China! Implementing safest way to trade Bitcoins online, features opensource code, API, two factor auth, SMS verification, transparent asset review on paper fiat and cryptocurrency, KYC & Cold vault.
Overview Free trading fee - No commission deducted on buy and sell orders Open Source Code - The website is running in a safe open source code reviewable by user API Support - We provide price volume and other APIS Publicly Auditable - Reserves and company assets are accessible to its clients Instant Trades - Realtime order matching High-end Engines - Can handle upto millions of transactions a day Instant Transfer - 1 business day processing for deposits & withdrawal requests Cold Storage - Bitcoin deposits are stored in offline vault SMS Verification - All withdrawal needs to go trough a SMS verification to ensure only the owner of account made the transaction Service- Our team is consist of Filipino technologist, financial experts, venture capitalist & bitcoin enthusiast we aim to provide a secure and reliable cryptocurrency trading & investment opportunities to our valued clients.
Fees Trading Fee: FREE Deposit Fee: FREE Withdraw Fee: 1.5%
Withdrawal / Deposit ETA Bank - 1 business day Bitcoin - 1 confirmation (instant)
Join the Coigg Traders now! https://www.coigg.com/
submitted by attcebu to Bitcoin [link] [comments]

Where to buy and sell bitcoin in Philippine BUY & SELL BTC USING GCASH, PAYPAL ETC.  Earn by Trading BTC with Paxful COINS.PH BUY AND SELL BITCOIN TAGALOG TUTORIAL & REVIEWS ... How to Cash Out Your Bitcoins in the Philippines Paano kumita sa Coins ph sa pag Buy and Sell ng Bitcoin ...

1 Where to Buy Bitcoin in the Philippines – a Complete Guide: 1.1 Via Coins.ph, Buybitcoin.ph, or PDAX: 1.2 By buying Prepaid Bitcoin Cards: 1.3 By Bitcoin using Credit Card. 1.3.1 Using Cex.io: 1.4 Buy bitcoin through Crypto ATMS; 1.5 Buy bitcoin over-the-counter in the Philippines. 1.5.1 Through Moneybees; 1.5.2 Through Bloom Partners Where Can I Buy and Sell bitcoins in Philippines? BuyBitcoin . By BuyBitcoin.ph – You can now purchase bitcoins in any BPI or Bank of the Philippine Islands branch through the efforts of Sam Kaddoura, Daniel Walton, Lasse Birk Olesen, and James Florentino. This initiative aims not just to make bitcoins processes easier to Filipino techies but also to the public through raising awareness ... Buy or Sell Bitcoins from the Bitcoin Pioneers of the Philippines. Sign Up Log In. What is Bitcoin? How to buy bitcoins. Buying bitcoin done in three easy steps. Almost all online payment options and centers including banks are now available for you to deposit. See below and chat us if need us to walk you through. Input the amount you want to buy. Enter the amount of bitcoin you want to ... While there’s an extensive list of places you can buy Bitcoin online, we in the Philippines have the option to top up cash to popular crypto wallets like Coins.ph, which is where we can convert pesos to Bitcoin. One such website where you can buy and sell Bitcoins is BSP-accredited Coins.ph. Using their site, it is easy for you to convert ... The Philippines has many places you can buy bitcoin from. Not only has the Bangko Sentral ng Pilipinas licensed some cryptocurrency exchanges, but there are also peer-to-peer marketplaces, bitcoin ...

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Where to buy and sell bitcoin in Philippine

How To Buy And Sell Bitcoin On Paxful - Duration: 31:47. ... Philippines - Duration: 14:22. Jhazel de Vera 37,078 views. 14:22. EARN INSTANTLY W/ THESE PHONE APPS & WEBSITES! - Duration: 7:51 ... CoinsPh Register: https://coins.ph/m/join/nthxdw Etoro Register: https://etoro.tw/2IXtjRZ Tags: bitcoin philippines history bitcoin philippines how to earn b... Earn $10 via Cloudmining - - https://youtu.be/qK084Bxy5q0 Paano mag Futures Trading sa Binance - https://youtu.be/cn1xmgTJ5o0 Wanna earn while browsing the w... Welcome to my channel where I give information about bitcoin trading and cryptocurrency news in the Philippines. Bitcoin Trading Philippines: https://www.you... You can create bitcoin investment Philippines by simply buy low bitcoin and sell it high. Once, you earn from that arbitrage strategy your bitcoin to philippines peso converter simply sell back to ...

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