BITCOIN and The Cryptos

...ayos meron na rin siyang digital currency Tongue

RCBC sees rollout of digital currency ePiso by next year

RIZAL COMMERCIAL Banking Corp. (RCBC) expects its digital currency to be fully rolled out next year, with the lender still testing the network across various communities.

In a recent interview, RCBC Group Head of Digital Banking Margarita B. Lopez said the Yuchengco-led bank is still pilot-testing its ePiso digital currency as it continues to study the value proposition of the network, on-boarding various partners such as merchants and suppliers.

“I expect the first six months [of the program] would be an intensive checking whether the business that we think is the path to building an ecosystem will actually work,” Ms. Lopez told BusinessWorld. “If it does, then that’s what we’ll replicate. That’s continuous learning for us.”

She added that the full deployment of ePiso should commence by next year.

“By next year, dapat full implementation na tayo (it should be in full implementation).”

Dubbed as the first of its kind in the Philippines, ePiso was first tested in May as a digital currency stored in a mobile wallet.

Currently, the ePiso is being tested in a community in Muntinlupa as well as in Bulacan and Bukidnon.

During the first few months of the pilot test, Ms. Lopez said the bank saw a 330% growth in terms of mobile application downloads and a 2000% increase in volume transactions.

“The [numbers are] very encouraging… There’s really a way for us to help them secure their hard-earned money,” she said.

Ms. Lopez added that RCBC is looking at partnering with more businesses, which include suppliers, buyers, and merchants to grow the ecosystem.

“Right now, we’ve on-boarded suppliers for farmers. We’ve also on-boarded a fast-moving goods company to [supply] the daily needs of ePiso users.”

Aside from the pilot areas, RCBC plans to test the digital currency ecosystem in certain areas in Mindanao, Visayas, and Palawan, depending on vicinities being serviced by its partners.

It is also looking at adding more use cases for the digital currency such as RCBC’s banking products and services, on top of fund transfers, merchants, as well as utility bills payments already being tested.

“Hopefully at some point, we’ll be working with different partners — either other banks or [financial technology] companies that will be able to offer investments, savings and so forth,” Ms. Lopez said. “Whatever that would benefit the consumers.”

For now, she noted that RCBC is closely working with the Bangko Sentral ng Pilipinas (BSP) through a sandbox model.

“Technically, the central bank should be the one to issue [digital currencies]. Right now, we’re doing the issuance and conversion for them, but at some point, they will issue that.”

The central bank launched the National Retail Payment System framework in 2015 with the objective of promoting a “cash-lite” economy wherein financial transactions will veer away from cash and check and toward electronic fund transfers and digital wallets.

The BSP targets to raise the share of digital payments to 20% of the total transactions by 2020 from a measly one percent in 2013.

RCBC posted a P2.2-billion net income in the first half of the year, 6.4% lower than the P2.35 billion tallied a year ago due to lower trading gains.



...mababa na? o bababa pa? Tongue

Bitcoin Drops to $3,550 Closing Its Week in the Red

Bitcoin, the flagship cryptocurrency, has recently seen its price drop to $3,550 after trading at around $3,650 for a couple of days. This is notably the third time the cryptocurrency’s price drops suddenly this month.

According to CryptoCompare data, bitcoin is down about 3% in the last 24-hour period, as a little over $100 were slashed off its price in about 10 minutes, as volume surged. This was consistent with other sell-offs seen this month, which dragged BTC down from this month’s cuirrent high of about $4,050.

As a result, the cryptocurrency is down about 8.3% in the last two weeks, but is notably still up 10.5% in the last 30 days, as on December 15 it was at its $3,200 low, which some analysts believe may have been the bottom.

What’s behind today’s price drop is unclear, although data has recently suggested that BTC whales – holders with large amounts of the cryptocurrency – have recently started resurfacing. This, as whales who hadn’t touched their holding for between six and two and half years have started moving their funds as of last December.

Per data from Flipside Crypto, wallets active in the last days now hold roughly 60% of the flagship cryptocurrency’s supply. BTC whales can significantly affect the crypto market, as large buy and sell orders can easily see prices shift.

According to CryptoCompare, it would take a sell order of about 5,450 BTC ($18.8 million) for bitcoin’s price to drop 10% on the exchange. On platforms with lower liquidity, the amount is significantly smaller.

As covered a study conducted y China’s state-run financial publication National Business Daily (NBD) found that about 0.7% of all bitcoin addresses control roughly 86.9% of the cryptocurrency’s circulating supply. This, as 97.2% of BTC wallets have less than 1 bitcoin in them.

As is often the case bitcoin’s slump dragged most altcoins along with it. At press time, Ether, EOS, Bitcoin Cash, and NEO are all down over 7% in the last 24-hour period, while Litecoin, XRP, and ZEC dropped between 3.9% and 4.6%.

TRON’s TRX is down by roughly 9%, while Ethereum Classic, a cryptocurrency that’s recently been hit with a 51% attack., has lost about 7.3% of its value.


The price of a single Bitcoin is worth about $3300. The value really fell in the last part of the year. I was really not seeing this. I am sure that the price will rise again. This is the trend if you see the market stats for the last 10 years. What do you guys say? Will it become stable or not?
You can now use bitcoin to invest in USA stocks and ETF's on the Abra app worldwide even from the Philippines. Join me and sign up for early access to get zero-fee trading -
Crypto currencies are slowly included in many products on financial markets. Futures can be traded for some time now in the US futures market. Currently they are searching for SEC approval of first ETF solely in crypto currencies. So, choices are already there
Many people have been calling Bitcoin a bubble for some time but they need to realize that it is not a bubble. The market may fluctuate but in the end, you will see that the price will go upwards. The current time is not good for Bitcoin, but it will surely go up.
I believe cryptocurrency is our future. Yes, they are not backed up by some pieces of paper, but this is not necessary. I believe that it will be much more convenient to live. Cryptocurrency is more secure than our cash.
After 5 years, more people will know about cryptocurrency. It will rise in price and it will be normal to pay for a plane ticket with bitcoins.
There are also disadvantages in cryptocurrency. For example, it will be more difficult to track down corrupt officials, but I think that soon people will find a solution to this problem. You can, for example, make wallets open and you can monitor the movements of funds.
I believe in a cryptocurrency future and look forward to it.
I like bitcoin forex trading the most, so I want to share some experience. Due to the peculiarities of the currency, Bitcoin is really being traded non-stop. Trading continues even on weekends. However, I advise resting on weekends. Smile Also, the main thing to succeed is to check the news. If I see that some large fund has invested hundreds of millions of dollars in Bitcoins, then I consider purchasing it in the next few days. If, for example, the BTC was banned in some country, I start selling.
Due to the high spread, trading on low time frames is not recommended. I work with trades on H1 and above. Also, despite the fact that Bitcoin is trading seven days a week, gaps are still possible with a lack of liquidity during the release of unexpected news. These are the main aspect to remember when trading a bitcoin. What about you, guys? Can you recommend something?

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