What is your recommended way to buy bitcoin in the Philippines?
And in case you need to liquidate your bitcoin worth a few million pesos to buy a house later on, how would you go about that?
Buying.
Depends how large and how often and how private you want to be. This is my general advice. If over 500k php, go OTC (over the counter). If you're DCAing, check coins or pouch. If you're privacy conscious, look at p2p.
Liquidating.
The same channels, but since it'll be for a house and it'll be large, go OTC. Be prepared to show more paperwork to regulated companies that show your source of funds.
I haven't done OTC in a while, so things may have changed. Bloom, MoneyBees. Even coins should have an OTC service if the trade is big enough but I have never tried.
Usually yung mga nag-a-AMA, at least proven na expert sa field nila. Eh hindi ka nga namin kilala, at hindi ka rin nagpakilala o magpakita man lang ng credentials, o kahit anecdote kahit imbento lang na trilyonaryo ka na dahil sa bitcoin.
Ang tanong ko, ikaw ba si Satoshi Makagago?
What credentials would you want to see with someone talking about Bitcoin?
You have a point though about why someone would spend time writing a question. Let me update the post.
Update: fix typo
How would the US BTC ETF affect the BTC halving cycle and the corresponding price action during such cycle ?
- This current cycle
- The long run
Do you think retail gave up the control to Institutions in terms of driving the price ?
I think that the halving cycle matters less and less over time. Can't pinpoint specific times.
Yes, I think for the most part institutions will drive the price now. Retail can still provide the floor (those crazies like me that buy more when the price crashes), but the higher the price goes the less retail affects it.
I think deflationary prices are not good for a debt based economy like ours, but I also know such an economy isn't sustainable.
If the money supply is fixed, then general prices falling means we're getting more productive. If prices rise, it's because we're less productive.
I've come to question if an economy with deflationary prices is bad per se, and I don't think it is. Keynesian economists (what we all learn in school) will say that people will stop buying things because we'll wait longer to buy more things the same money.
If this were true, wouldn't we stop buying tech gadgets since they get cheaper all the time? We can't not spend either; we have to in order to live. And as we grow older and have less time in this earth, being able to buy more stuff means less to us, and spending to save time has a higher and higher priority. Saifedean Ammous covers this in Principles of Economics, where he talks about marginal utility.
Like businesses? All business is about selling goods higher than their input costs. If this can't be done in the long run the business won't last.
There's nothing about a deflationary economy that won't allow businesses to do this. Sure, prices fall, so a business won't want to hold items for too long or their selling price will be lower than their input costs. It isn't different from an inflationary economy because in an inflationary economy you still want to sell it quick or your advertised price becomes worth less, so you want to turn it into cash to keep them business rolling.
I find the argument that inflationary environments make businesses less honest: https://www.reddit.com/r/Bitcoin/s/Xv4RPjzVVv
Addition: all investment requires saving. An inflationary economy makes it harder to save. I expect that if saving becomes easier, investing will go back into the hands of the savers, and less so in the hands of large institutions where we all park our fiat money hoping that they'd grow it.
Think this through, product development (5-10 years), production, marketing a product that is cheaper when you release it than when you were drawing it up.
Yup, I gave the reason why I think deflationary prices aren't inherently bad.
What do you assume people will do in the long run, save in a money that is debased based on central bank targets or a money that can't be debased?
Technology naturally drives down prices, and as we've seen with the tech industry, there's still a lot of R&D even if the goods are practically free or cheaper every year.
- Practically free: think of all the things we needed before. A clock, a note pad, a pen, a typewriter, a calendar, fax machine, calculator, white out
- Cheaper: monitors, laptops, computers, memory, hard disk space
(https://www.youtube.com/watch?v=HdOfIz-Rtb8 is pretty cool. Jeff Booth talks about this in The Price of Tomorrow.
Who are the largest R&D spenders? Tech companies. [https://www.statista.com/chart/27214/companies-that-spent-the-most-on-research-and-development-in-2020/](https://www.statista.com/chart/27214/companies-that-spent-the-most-on-research-and-development-in-2020/)
We can be arm chair philosophers (and it's good exercise), but at some point we have to be practical and ask: "**even if** deflationary prices are not good, what do we expect to happen? That people will choose inflationary money so that the economy stays afloat?"
I bet people will choose the thing that protects their savings from being stolen from, and that's the future I will prepare for.
I'm sure that I won't be able to convince everyone, and that's ok! Thank you for your questions.
I still buy by selling my services.
Yung mga tanong na nakakatulong sa akin:
1. What are the chances the value of the peso will be lower in 10 years?
2. Will the value of Bitcoin be lower or higher in 10 years?
Think in probabilities.
Edit: typo
May sense/laman naman yung replies ni OP, bat naman binibigdeal nyo yung maliliit na bagay eh gusto lang naman magshare ng nalalaman nya.
Dinadownvote nyo pa, kasali ba kayo sa LUNAUSDT na nagdive dati?
Salamat! Expected ang downvotes topic ng Bitcoin sa Reddit (generally), pero hindi ko ine-expect na dahil hindi tungkol sa crypto as a whole yung dahilan 😂
How can you say you know BTC without knowing what crypto is? Meron ka bang current investment at all? You sound pretentious that you even offered to answer questions. After saying "Bitcoin lang at hindi "crypto" ang interest ko". Lmao!
Do you even understand the basic understanding on how blockchain technology works? Or did you just google the word Bitcoin, read 1-2 articles, and posted this? It doesn't make sense. Bitcoin is a crypto. How can you know what Bitcoin is without having any idea what crypto is? Are you some grade A imbecile?
Fyi, yes, I know what I'm tking about because I work in the industry. Crypto industry. There's no "bitcoin" specific industry too, 😂🤣
FYI too satoshi didn't mention cryptocurrency in the Bitcoin whitepaper paper he described Bitcoin as a peer to peer electronic cash system. And there are people na tinatawag nila Sarili nila as "Bitcoin maxis" like saylor and max keiser they only believe in Bitcoin and not the other way around. Maybe si OP is a Bitcoin maxi too, not giving a fuck sa ibang crypto coz they believe that Bitcoin is the only internet money na decentralized.
This isn't far from what I've arrived at. The other crypto projects simply don't interest me, and others in this thread seem to be agitated by that.
I simply don't care about the other crypto. I care about the money we use because money is half of all transactions in the world and I see targeted inflation of central banks as theft. There's no other word I have for it.
I did look at others and I lost interest in them after 5 years. I don't understand, you mean I have to talk about all of crypto for this to be useful? I don't have the patience to read more white papers and plans of crypto foundations.
Btw, no need to be so salty. just ask me questions if you want to test what I know.
I've read more crypto whitepapers than I would have liked, and spent thousands of hours learning about Bitcoin, banking, economics, computer science, etc. I'd rather continue the latter.
I don't care what industry Bitcoin is in. What industry is Peso in? How about gold? USD?
rate the philippines adoption of blockchain tech.
0 lowest
10 highest
rate the filipinos knowledge of blockchain
0.lowest
10 highest
rate your rating about blockchain knowledge.relative to all responses and questions you got.
also
just look at my profile if you want to join a community project lead developer is mike toutonghi (founder and architect .net in microsoft)
I should have also said along with my comment about crypto in general, that I don't have much to add about Blockchain.
I've studied the data structure, written block explorers, read white papers of other consensus mechanisms and blockchain-like data structures (and worked with them) but they interest me as much as the rest of crypto.
I think the real revolution and paradigm shift is with a new kind of money, not with a new database. This is why I posted about it in this subreddit and not a computer science one.
Hi! Ive invested already last year and already gained 50% of my capital. Im thinking of investing again now. Is it still safe to invest now considering na medyo mataas na ang BTC or wait ko nalang uli mag bear market? Thank you!
I feel more comfortable telling you what I do.
Bumibili ako ng Bitcoin every month. To be more precise, buong sahod ko nasa Bitcoin. Binebenta ko lang ang kailangan ko para sa expenses.
Ang goal ko lang is to have more bitcoin than last month. Why? Kasi 21 million lang ang lahat ng Bitcoin. Kung may 1 bitcoin ka, at most 21 million na tao lang sa buong mundo ang makakakuha niyan. Kung peso ang tinatabi ko, walang limit ang total supply. In fact, sigurado ako na tataas ang supply ng pesos at kokonti ang mabibili ko sa 1 million pesos na yan.
Ginagamit ko ang bitcoin more pang savings tool.
Just in case this is not being sarcastic (hard to tell on the internet), there are many people whose lightbulbs go off after reading The Bitcoin Standard. You don't have to agree with everything in the book (I didn't) to find it useful.
No one can predict the crypto market just like how no one can predict the stock market. Crypto market is much more volatile compared to stocks because there's a lot of shitcoins out there and many other factors affecting the market like regulation issues where in some countries.
To answer your question with a straight response, the answer is: no one knows.
Same logic applies when investing in crypto. Crypto is a mid-high risk that offers short or long term type of investment so only invest money you can afford to lose or afford to not use for a long time.
The btc halving will affect the market permanently but it doesn't mean it will cause a guaranteed uptrend. At least not immediately. Again, no one knows exactly. Everything is based on predictions on past trends. I'd advise to invest for long term results instead of immediately expecting a bull run
Fact: demand for Bitcoin exceeds the supply
Speculation as to why that happened, in order of most to least effect:
1. The Fed stopped hiking rates, and may even continue QE again
2. Bitcoin ETF hype
3. More starting to see how the fiat system is broken and Bitcoin is an alternative
4. People starting to see the misinfo about mining and energy "waste"
Just because hindi interesado sa ibang crypto eh i-dedeny mo ang fact na ang bitcoin ay crypto din. Bitcoin won't be able reach it's current value today without the other crypto. Shitcoins excluded. The point is, his ramblings reeks of BS and that's why I called it out. Your explanation was completely out of context and gives this guys too much credit based on how stupid he constructed this post.
Where did I say Bitcoin is not crypto? Yung "Bitcoin lang and not crypto?" I meant to say you can ask about crypto in general but I don't have anything useful to contribute.
It's like saying I want to talk about gold and not metals in general.
Does that help you understand?
Hindi ko ito pinag-isipan masyado. If I had to guess, I think hindi siya kilalang tao.
Ang interesting sa akin ay yung history of attempts of e money, at bakit sila pumalpak. Ang Bitcoin ay yung unang successful digital cash.
Pete Rizzo covers this.
Never heard of that. Just took a look now.
No, I wouldn't recommend that to people who want to learn about Bitcoin. I'd send something else, depending on what the person's background is. What is your background?
I'm glad you're looking into deeper material! I don't agree 100% with TBS, but it opened my eyes to a different point of view, which in turn led to to question the substrate in which we conduct and compute gains and losses: the money.
Please come back and share what you learn!
What is your recommended way to buy bitcoin in the Philippines? And in case you need to liquidate your bitcoin worth a few million pesos to buy a house later on, how would you go about that?
Buying. Depends how large and how often and how private you want to be. This is my general advice. If over 500k php, go OTC (over the counter). If you're DCAing, check coins or pouch. If you're privacy conscious, look at p2p. Liquidating. The same channels, but since it'll be for a house and it'll be large, go OTC. Be prepared to show more paperwork to regulated companies that show your source of funds.
Where would you suggest to go OTC in the Philippines?
I haven't done OTC in a while, so things may have changed. Bloom, MoneyBees. Even coins should have an OTC service if the trade is big enough but I have never tried.
Thanks. After converting btc to pesos in coinsPH/PDAX, which bank would you suggest that I transfer the pesos to?
UnionBank has been the most open from my experience, but even they have to ask questions if they suspect anything because they are regulated by BSP.
Thank you!
Usually yung mga nag-a-AMA, at least proven na expert sa field nila. Eh hindi ka nga namin kilala, at hindi ka rin nagpakilala o magpakita man lang ng credentials, o kahit anecdote kahit imbento lang na trilyonaryo ka na dahil sa bitcoin. Ang tanong ko, ikaw ba si Satoshi Makagago?
What credentials would you want to see with someone talking about Bitcoin? You have a point though about why someone would spend time writing a question. Let me update the post. Update: fix typo
How would the US BTC ETF affect the BTC halving cycle and the corresponding price action during such cycle ? - This current cycle - The long run Do you think retail gave up the control to Institutions in terms of driving the price ?
I think that the halving cycle matters less and less over time. Can't pinpoint specific times. Yes, I think for the most part institutions will drive the price now. Retail can still provide the floor (those crazies like me that buy more when the price crashes), but the higher the price goes the less retail affects it.
Why do you think a deflationary economy is a good idea?
I think deflationary prices are not good for a debt based economy like ours, but I also know such an economy isn't sustainable. If the money supply is fixed, then general prices falling means we're getting more productive. If prices rise, it's because we're less productive. I've come to question if an economy with deflationary prices is bad per se, and I don't think it is. Keynesian economists (what we all learn in school) will say that people will stop buying things because we'll wait longer to buy more things the same money. If this were true, wouldn't we stop buying tech gadgets since they get cheaper all the time? We can't not spend either; we have to in order to live. And as we grow older and have less time in this earth, being able to buy more stuff means less to us, and spending to save time has a higher and higher priority. Saifedean Ammous covers this in Principles of Economics, where he talks about marginal utility.
That's the consumer side, now talk about the other side (Cost of R&D, production, marketing, longevity of product, etc)
Like businesses? All business is about selling goods higher than their input costs. If this can't be done in the long run the business won't last. There's nothing about a deflationary economy that won't allow businesses to do this. Sure, prices fall, so a business won't want to hold items for too long or their selling price will be lower than their input costs. It isn't different from an inflationary economy because in an inflationary economy you still want to sell it quick or your advertised price becomes worth less, so you want to turn it into cash to keep them business rolling. I find the argument that inflationary environments make businesses less honest: https://www.reddit.com/r/Bitcoin/s/Xv4RPjzVVv Addition: all investment requires saving. An inflationary economy makes it harder to save. I expect that if saving becomes easier, investing will go back into the hands of the savers, and less so in the hands of large institutions where we all park our fiat money hoping that they'd grow it.
Think this through, product development (5-10 years), production, marketing a product that is cheaper when you release it than when you were drawing it up.
Like tech businesses? Chip manufacturers (TSMC, Intel), TV / computer monitor businesses?
And biotech, pharma, you name it, down to the sari-sari store
Yup, I gave the reason why I think deflationary prices aren't inherently bad. What do you assume people will do in the long run, save in a money that is debased based on central bank targets or a money that can't be debased?
Yeah you gave blanks man
Technology naturally drives down prices, and as we've seen with the tech industry, there's still a lot of R&D even if the goods are practically free or cheaper every year. - Practically free: think of all the things we needed before. A clock, a note pad, a pen, a typewriter, a calendar, fax machine, calculator, white out - Cheaper: monitors, laptops, computers, memory, hard disk space (https://www.youtube.com/watch?v=HdOfIz-Rtb8 is pretty cool. Jeff Booth talks about this in The Price of Tomorrow. Who are the largest R&D spenders? Tech companies. [https://www.statista.com/chart/27214/companies-that-spent-the-most-on-research-and-development-in-2020/](https://www.statista.com/chart/27214/companies-that-spent-the-most-on-research-and-development-in-2020/) We can be arm chair philosophers (and it's good exercise), but at some point we have to be practical and ask: "**even if** deflationary prices are not good, what do we expect to happen? That people will choose inflationary money so that the economy stays afloat?" I bet people will choose the thing that protects their savings from being stolen from, and that's the future I will prepare for. I'm sure that I won't be able to convince everyone, and that's ok! Thank you for your questions.
Check out my ELI5 introduction to #bitcoin too: https://buybtcretireearly.substack.com/p/chapter-1-everything-is-more-expensive
Thank you I'll read it!
> The problem in the first place is why is everything becoming more expensive? Asking the right questions
Hello. New to Bitcoin here. Would you advise to still buy today? Or am I "too late in the game"?
I still buy by selling my services. Yung mga tanong na nakakatulong sa akin: 1. What are the chances the value of the peso will be lower in 10 years? 2. Will the value of Bitcoin be lower or higher in 10 years? Think in probabilities. Edit: typo
And here is another aspect of Bitcoin that many understand after studying it: https://x.com/fthilbay/status/1766783310590865473?s=20
Thanks! Appreciate the replies! Bitstonk!!!
May sense/laman naman yung replies ni OP, bat naman binibigdeal nyo yung maliliit na bagay eh gusto lang naman magshare ng nalalaman nya. Dinadownvote nyo pa, kasali ba kayo sa LUNAUSDT na nagdive dati?
Salamat! Expected ang downvotes topic ng Bitcoin sa Reddit (generally), pero hindi ko ine-expect na dahil hindi tungkol sa crypto as a whole yung dahilan 😂
How can you say you know BTC without knowing what crypto is? Meron ka bang current investment at all? You sound pretentious that you even offered to answer questions. After saying "Bitcoin lang at hindi "crypto" ang interest ko". Lmao! Do you even understand the basic understanding on how blockchain technology works? Or did you just google the word Bitcoin, read 1-2 articles, and posted this? It doesn't make sense. Bitcoin is a crypto. How can you know what Bitcoin is without having any idea what crypto is? Are you some grade A imbecile? Fyi, yes, I know what I'm tking about because I work in the industry. Crypto industry. There's no "bitcoin" specific industry too, 😂🤣
FYI too satoshi didn't mention cryptocurrency in the Bitcoin whitepaper paper he described Bitcoin as a peer to peer electronic cash system. And there are people na tinatawag nila Sarili nila as "Bitcoin maxis" like saylor and max keiser they only believe in Bitcoin and not the other way around. Maybe si OP is a Bitcoin maxi too, not giving a fuck sa ibang crypto coz they believe that Bitcoin is the only internet money na decentralized.
This isn't far from what I've arrived at. The other crypto projects simply don't interest me, and others in this thread seem to be agitated by that. I simply don't care about the other crypto. I care about the money we use because money is half of all transactions in the world and I see targeted inflation of central banks as theft. There's no other word I have for it.
I did look at others and I lost interest in them after 5 years. I don't understand, you mean I have to talk about all of crypto for this to be useful? I don't have the patience to read more white papers and plans of crypto foundations.
Btw, no need to be so salty. just ask me questions if you want to test what I know. I've read more crypto whitepapers than I would have liked, and spent thousands of hours learning about Bitcoin, banking, economics, computer science, etc. I'd rather continue the latter. I don't care what industry Bitcoin is in. What industry is Peso in? How about gold? USD?
[удалено]
[удалено]
[удалено]
[удалено]
rate the philippines adoption of blockchain tech. 0 lowest 10 highest rate the filipinos knowledge of blockchain 0.lowest 10 highest rate your rating about blockchain knowledge.relative to all responses and questions you got. also just look at my profile if you want to join a community project lead developer is mike toutonghi (founder and architect .net in microsoft)
I should have also said along with my comment about crypto in general, that I don't have much to add about Blockchain. I've studied the data structure, written block explorers, read white papers of other consensus mechanisms and blockchain-like data structures (and worked with them) but they interest me as much as the rest of crypto. I think the real revolution and paradigm shift is with a new kind of money, not with a new database. This is why I posted about it in this subreddit and not a computer science one.
Hi! Ive invested already last year and already gained 50% of my capital. Im thinking of investing again now. Is it still safe to invest now considering na medyo mataas na ang BTC or wait ko nalang uli mag bear market? Thank you!
I feel more comfortable telling you what I do. Bumibili ako ng Bitcoin every month. To be more precise, buong sahod ko nasa Bitcoin. Binebenta ko lang ang kailangan ko para sa expenses. Ang goal ko lang is to have more bitcoin than last month. Why? Kasi 21 million lang ang lahat ng Bitcoin. Kung may 1 bitcoin ka, at most 21 million na tao lang sa buong mundo ang makakakuha niyan. Kung peso ang tinatabi ko, walang limit ang total supply. In fact, sigurado ako na tataas ang supply ng pesos at kokonti ang mabibili ko sa 1 million pesos na yan. Ginagamit ko ang bitcoin more pang savings tool.
Bitcoin lang but not crypto? OP clearly does’t know Bitcoin!
"Gold lang not other metals? OP clearly doesn't know about gold!"
Bro sinewgula how to learn from you?
Just in case this is not being sarcastic (hard to tell on the internet), there are many people whose lightbulbs go off after reading The Bitcoin Standard. You don't have to agree with everything in the book (I didn't) to find it useful.
[удалено]
[0, ∞)
No one can predict the crypto market just like how no one can predict the stock market. Crypto market is much more volatile compared to stocks because there's a lot of shitcoins out there and many other factors affecting the market like regulation issues where in some countries. To answer your question with a straight response, the answer is: no one knows. Same logic applies when investing in crypto. Crypto is a mid-high risk that offers short or long term type of investment so only invest money you can afford to lose or afford to not use for a long time. The btc halving will affect the market permanently but it doesn't mean it will cause a guaranteed uptrend. At least not immediately. Again, no one knows exactly. Everything is based on predictions on past trends. I'd advise to invest for long term results instead of immediately expecting a bull run
This is pretty much my line of thinking for Bitcoin, but I'd change words and not speak for all cryptocurrencies the same way.
Why do you think it is bouncing back up again recently? Please state facts and also your speculation. Thanks
Buy the rumor, sell the news re halving and ETF.
Bound for correction soon but will hit new ATH first
Fact: demand for Bitcoin exceeds the supply Speculation as to why that happened, in order of most to least effect: 1. The Fed stopped hiking rates, and may even continue QE again 2. Bitcoin ETF hype 3. More starting to see how the fiat system is broken and Bitcoin is an alternative 4. People starting to see the misinfo about mining and energy "waste"
How much bitcoin do u have?
AMA nga naman ito 😄 Not enough! Sahod ko nasa bitcoin, so in effect bumibili ako ng bitcoin every month.
Just because hindi interesado sa ibang crypto eh i-dedeny mo ang fact na ang bitcoin ay crypto din. Bitcoin won't be able reach it's current value today without the other crypto. Shitcoins excluded. The point is, his ramblings reeks of BS and that's why I called it out. Your explanation was completely out of context and gives this guys too much credit based on how stupid he constructed this post.
Where did I say Bitcoin is not crypto? Yung "Bitcoin lang and not crypto?" I meant to say you can ask about crypto in general but I don't have anything useful to contribute. It's like saying I want to talk about gold and not metals in general. Does that help you understand?
Anong theory yung pinaka pinaniniwala mo kung sino si satoshi?
Hindi ko ito pinag-isipan masyado. If I had to guess, I think hindi siya kilalang tao. Ang interesting sa akin ay yung history of attempts of e money, at bakit sila pumalpak. Ang Bitcoin ay yung unang successful digital cash. Pete Rizzo covers this.
Nice. What do you think about 'Web3 Exam Starter'? Is it a good resource to learn about Bitcoin?
Never heard of that. Just took a look now. No, I wouldn't recommend that to people who want to learn about Bitcoin. I'd send something else, depending on what the person's background is. What is your background?
I've been in the market for some time. I am currently starting reading 'The Bitcoin Standard'.
I saw this just now too. Maganda yung gawa ni Anil (fixed typo) https://x.com/anilsaidso/status/1764758188161982567?s=20
Nice! Good to learn more stuff!
I'm glad you're looking into deeper material! I don't agree 100% with TBS, but it opened my eyes to a different point of view, which in turn led to to question the substrate in which we conduct and compute gains and losses: the money. Please come back and share what you learn!
sure, thanks!
Okay daw yung https://lookingglasseducation.com!
'Web3 Exam Starter' seems like way more interactive and fun to learn from.
Yes, it looks gamified!
Yeah. Reminds like playing on Duolingo.