Re: Central of the Philippines Recognizes Bitcoin

The thread is mostly 1 year old. Does that actually happen? And what it actually mean? Is there any legal businesses in Phillipine that accept Bitcoin?

The recognition of the Central Bank of the Philippines was actually for the likes of Coins.ph and a few Bitcoin exchanges in the Philippines. There's also a Bitcoin ATM in Makati City but no small businesses yet such as coffee houses, computer shops, etc that I know that accepts Bitcoin.

But I think give it a few more months or years, Bitcoin will slowly be adopted by businesses. I know for the fact since I myself and a few other friends will be putting up a businesses that will accept Bitcoin soon.

Yes I also thinking for it the adoption for bitcoin in the country is not becoming fast but it can be used as soon as all people being educated about bitcoin so that they can easily use it.

This is the case in the Philippines. Although their Central Bank has issues a statement about bitcoin, the adoption rate is very slow because not everyone really find bitcoin attractive. Yes, I would agree that there are a lot of Filipino's are into bitcoin but its not very significant in numbers and most Filipino would prefer to accept cash or cards when you are in the country. For bitcoin to be really widely used it should be accepted as payment method, I hope that it can happen in the Philippines.