Post
Topic
Board Other languages/locations
Re: Singapore
by
w8ks6
on 06/07/2013, 13:00:19 UTC
There are reasons why bitcoin isn't picking up by local people in Singapore. Your currency has been relatively stable and your economic isn't build on Ponzi scheme like the US or Europe.

When people are not worry about their saving, why bother seeking alternative currency.
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Because there is more to currency than "saving" a.k.a "hoarding" and "capital preservation".
If you are a small importer in SG, buying say even from China or Japan. Try to send a payment to your export partner in those countries using SGD, as cheaply as you could using Bitcoin! Then try to send the same payment to Europe or the US!

EVEN IF you pay 0.99% to a payment processor like BitPay to protect you from Bitcoin exchange voliatility, I think it would still be cheaper than using any other method available to a small business.