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OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal. I heard your president is a malevolent, crazy maniac who likes to get poor and oppressed people killed for doing the lightest of drug offenses.

My suggestion for things you should buy with your Bitcoin. A bullet proof vest and life insurance. Hahaha.

If your not from the country of the Philippines you will not understand what is the President aims to do, i think government will not ban cryptocurrencies because they are studying bitcoin because it may help overseas Filipino workers to get their money easily.

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what the Presidents wants to do is to wipe all out the illegal drugs, its not hard because there are people that also have a high status in the government are the one's who are drug protectors. We know that in this world anything is possible with money that's what he is trying stop. we don't know if the one who is killing is the drug sindicates also they can pay some policeman to kill their people for them to not to talk, we can't just judge the President or anyone without any valid reasons.

Bitcoin does have its history connected with drugs and the dark markets. What would happen if your president discovers that it would be easier for drug dealers and terrorists to move their money with Bitcoin?

i think it can't ban bitcoin right now because the country of the Philippines needs source of money,

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right now the Philippines has many debt because of the previous government regulation and officials, That's why the country needs to get more investors in the Philippines.

Corruption is everywhere. But corruption in a 3rd world country is the worst.

exactly that's why the country needs a president and government officials that is trustworthy and good leader, the main problem is almost everyone can be paid and i think the president of the Philippines is not one of them, if he can be paid the anti drug campaign will not happen. The country of the Philippines is a Democratic Country and every president will have 6 years length on their service. i hope everything goes well.

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Bitcoin is the Philippines' only source of income? I do not believe that's true. What was your country's source of income before Bitcoin?

A quick search on the Philippines' economy. https://en.wikipedia.org/wiki/Economy_of_the_Philippines

You have agriculture, mining, offshoring & outsourcing and tourism among others. None of them need Bitcoin.

what i mean is bitcoin can be also the source of income and earn profit for the country, actually we don't know if the Bank of the Philippines are also investing on Bitcoin right now. Of course the government are doing and searching all the possible ways to earn profit for the country. The Country won't legalize Bitcoin if they will not get anything from it.

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That would also mean that banks will lose some of their profit. The banks clearly won't like that. There is also a big possibility that they helped fund your president's campaign.

Banks are getting profit too on bitcoin, because they are connected to it so banks will not lose profit, actually they are earning from it because of the taxes when you convert it to fiat.