Once again Vigattin Radio was able to give the latest updates on information technology last Saturday. With anchors Den Macaranas and Ms. Arnene Barcelo, together with Mr. Elison Barcelo. They discussed the payment system called Bitcoin. It is a payment system where the sytem is recorded in a public ledger using its own unit of account.
To discuss the payment system, Vigattin Radio invited guests that are experts of the latter. They are Mr. Miguel Cuneta (co-founder of Satoshi Citadel Industries & Bitmarket.ph), Mr. James Florentino (Buybitcoin.ph designer), Mr. Sam Kaddoura (CEO and co-founder of Buybitcoin.ph) and Mr. Macoy Mejia (mBTC.ph co-founder).
Bitcoin was developed by Satoshi Nakamoto, it is a term for the person or the group of people who created the Bitcoin protocol and reference software called the “Bitcoin Core”. Payments in the Bitcoin system are recorded in a public ledger using its particular unit of account, which is also called bitcoin. The payments work peer-to-peer without a single administrator which makes bitcoin a decentralized virtual currency.
The virtual currency is made as a prize for payment processing work in which a client offers their computing power to confirm and record payments into the public ledger.Called mining, people or organizations participate in return for transaction charges and recently made bitcoins.
Other than mining, bitcoins can be obtained in return for products, services and flat items. Users can send and get it electronically for an optional transaction fee using wallet software on a mobile device, web application or a mobile device.
As a form of payment for products and services, Bitcoin continues to grow and merhants have an incentive to acknowledge the digital currency because the charges are lower than the 2-3% normally imposed by credit card processors.
In the midst of worries that Bitcoin might be utilized for illicit activities, it has been a subject of numerous investigations. The Federal Bureau of Investigation (U.S.) even closed down an online black market last October 2013 and seized 144, 000 bitcoins worth US $28.5 million. Even though, the U.S. is still considered as bitcoin-friendly contrasted with other governments.
In the Philippines, Bitcoin is accessible through online exchanging sites which includes BuyBitcoin.ph, mTBC.ph and Bitmarket.ph
BuyBitcoin.ph offers offers a service that makes it easier and faster to buy and sell bitcoins. They focus on great customer support, safety and efficiency. The website is co-founded by Mr. Sam Soriano Kaddoura, Mr. Lasse Birk Olesen, Mr. Daniel Walton and Mr. James Florentino. Mr. Sam has already over five years of experience in investment banking in addition to corporate strategy experience for a Silicon Valley tech company.
Meanwhile, Mr. James Florentino is a UI designer and believes that Bitcoin will open new avenues for the Philippine e-commerce.
mBTC.ph is described as “ one of the first cloud-based bitcoin wallet provider in the Philippines where anyone can also buy and sell their bitcoins.” The website is maintained and funded by Macoy Mejia with the help of Jerico James Milo and Lawrz. mTBC offers users to create a free online wallet and accept bitcoins from there, they store and secure their bitcoins for free, accept payments using the free QRCode Generator Page and offers buy & sell and products &services.
Lastly, Bitmarket.ph as describe in their website: it was created to connect people to the global payment network that is bitcoin. With this, the local industry can now access millions of bitcoin users. Bitmarket.ph was co-founded by Mr. Miguel Cuneta.
The site aims to provide an electronic payment option that small and medium enterprises as well as everyday consumers can rely on. They do it by making bitcoin simple, strategic and secure. They believe that the Bitcoin payment system optimizes the value that businesses can give and costumers can get, giving everyone a chance in participating in a truly global economy.
Through these Bitcoin exchanging sites, Philippine bitcoin enthusiasts can finally have an opportunity to have their Bitcoin exchange in the Philippines which will be surely safe and secure. Other individuals like OFWs can use the payment system for a faster conversion of money, making it into cash that can be easily picked up by their relatives in the country.
For more information about the online exchanging sites you may visit them at: www.BuyBitcoin.ph, www.mBTC.ph and www.Bitmarket.ph.
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