Bitcoin in the Philippines — Will Technology Liberate Our Money?

Many say that it's hard to explain what Bitcoin is and how it works as it is very complex and technical. One of the people I met tonight raised a good point — isn't it just as hard to explain how fiat paper money works? Ask yourselves, what really gives value to the paper currency in your wallet right now? One thing I can surely clarify is that it is not backed by gold.

Meeting with Bitcoin enthusiasts and entrepreneurs here in Manila, Philippines
I've written about Bitcoin before in my article "Is Gold Money?" where I touched briefly on its great potential as an alternative and competitive medium of exchange. Tonight, I was lucky enough to be invited to meet some really awesome and intellectual people who are very enthusiastic about Bitcoin. Some of them are even the pioneers in the Philippines and are working on different kinds of ideas on how to utilize this exciting revolutionary technology. I'm looking forward to having more meetings with them and hopefully have more time then.

One of them is Lasse Birk Olesen (upper right on the photo), founder of Bitcoin Nordic. Check out his TEDxCopanhagen talk here about How Technology Moves Society - Not Politics: 



I learned a lot today about Bitcoin and the community of Bitcoin users and investors here in the Philippines. I learned about how China, as heavy as they regulate their internet, actually showed a documentary about Bitcoin on national TV. I learned about a couple who successfully started a Kickstarter campaign where they'll live for 90 days just on Bitcoin alone. I met awesome, intellectual, and diplomatic people who I, no matter what difference we had politically or philosophically, found common ground in freedom of money and trade.

Free Bitcoin Magazine I got
Surely there's more to learn. They even talked about a steep learning curve when using your laptop or desktop. I, on the other hand, found it so simple and easy to use. All I had to do was download an app called Bitcoin Spinner on the Google Playstore and Lasse took a shot of my unique QR code there and instantly transferred a bit of Bitcoin for me as an example.

I can't really talk so much on the specifics or give confident speculations regarding the future of Bitcoin as I have so much to learn and I'm really looking forward to learning more about it. I feel bad I didn't get to hang out and get to know more of them as I had to leave early but I'm looking forward to having more meetings with them. My interest in liberty has given me so many new friends and has brought me to so many places already and surely it will continue to.

Follow me on Twitter (@harryinitiative) to get more updates on my Bitcoin learnings (and hopefully earnings) and other random things. :) 

2 comments:

  1. I've been hearing and reading a lot about Bitcoin and other cryptocoin related topics. I'm amazed that it has already reached our country.

    By the way, have you heard of any licensing requirements or any government regulations about Bitcon?

    I would appreciate any input from you. By the way, I followed you on Twitter...

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