TheLoneRider
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Siquijor
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Country > Philippines > Siquijor Island > Lazi
Date > 2023 > Mar
Activity > Slice of Life

Slice of Life
Motorbike Chronicles


Bitcoin Blunder Mar 15, 2023

Bitcoin Blunder

Location Google Map: Lazi, Siquijor Island, Philippines

Price Watching
Since that fateful day on Feb 18 when I hesitated as Bitcoin spiked in price, giving me a chance to purchase a motorbike, I have since monitored Bitcoin, vowing to act immediately when it once again spikes back to that level. Losing that opportunity was a little heartbreaking.

And last night, it spiked up again...in fact, much higher than my price point!

Bitcoin Blunder

The Plan
Immediately, I transferred some Bitcoin from my private wallet to a bitcoin exchange center - an amount in pesos commensurate to a motorbike purchase. From there, the plan was to convert it into PHP (pesos) and then convert it again to GCash. Once in GCash, it's as good as spendable money.

Within the Safe Zone?
When I received confirmation from my private wallet that the money has been sent, I had a sigh of relief, feeling that I was already within the safety zone. I waited and waited for a confirmation from the bitcoin exchange center that it has received the money, but I knew I'll get the confirmation eventually anyway (from experience with them, it takes them a while, but the confirmation comes). I was so sleepy that I decided to go to sleep and work on the process when I wake up. The bitcoin has been successfully sent anyway and I was 'safe'. This was my blunder! Before reading on, do you see the flaw? Give it a thought before reading on.

Upon Waking Up
Upon waking up, the first thing I did was to check the confirmation receipt from the exchange center. It was there - the Bitcoin amount was there. But the peso value was a lot lower than I was expecting. What happened?

And then it hit me. Even though I successfully transferred the bitcoin when the price was high, it was still bitcoin (not yet pesos) when it was received - thus still subject to market fluctuation. The peso amount was not locked-in yet. And overnight, the value of bitcoin dropped. Thus, the peso equivalent became lower.

With Benefit of Hindsight
Swallowing hard from this harsh lesson, I should have waited for the receipt confirmation and converted into pesos before going to sleep. That way, my peso amount was locked-in and 'safe'. It was a mindless stupid blunder. This lesson is now etched in granite.

A Central Bank Incursion
A new requirement has been imposed by the Central Bank when receiving bitcoin. I just found this out with this transaction. The receiving exchange center (duly registered in the Philippines) now requires the receiver to disclose where the crypto came from - individual names, Bitcoin exchange center, etc. This is very very troubling for the following reasons:

  1. Anonymity - sources don't want to be named - that's why their payment method is crypto. It's not that they have anything to hide. It's a privacy issue. And sometimes, you don't know the source. I once received Bitcoin as a donation on my site - there were no sender details!
  2. Breaking the Law - if the receiver lies about it, he/she breaks the law. They won't want to do that either
  3. Transaction cannot go through - if you don't fill in the info, the transaction cannot go through. But the sending wallet already released the crypto - it cannot be reverted back. What now happens to the crypto...lost in transit?
  4. Drop-down list - the source of the crypto is disclosed through a drop-down list. What if my source is not listed there? The input field still needs to be filled. There is no option, "Not in list". So, the receiver is forced to choose any from the list...effectively lying

Ending Thoughts
What about the Motorbike? Bitcoin may still take a nose-dive so I was cornered into a forced-move to convert the bitcoin into pesos at the prevailing price. A loss, albeit not a catastrophic loss but a very memorable one.

--- Gigit (TheLoneRider)
YOGA by Gigit Yoga by Gigit | Learn English Learn English | Travel like a Nomad Nomad Travel Buddy | Donation Bank Donation Bank for TheLoneRider



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Finally Acquiring the Motorbike Slice of Life

Finally Acquiring the Motorbike

(Mar 18, 2023) After going through peaks and valleys from Bitcoins's price to dealership negotiations, I finally came home with a 2nd-hand feeling brand new motorbike...more »»

Next Slice of Life story:

More on Lazi:

Lazi Local Info
  1. Resorts - Lazi has some beach/dive resorts on its west coast - Gabayan Riviera, Lazi Beach Club, Bahura Dive Resort. However, the popular area for tourist resorts are in San Juan
  2. Transport - Lazi is the junction where the jeeps begin their clockwise route (Lazi-San Juan-Siquijor Port) or the counter clockwise route (Lazi-Maria-Larena Port). Because the jeeps are rare with about 2 to 3 trips/day only in the morning, it's practical to just have a motorcycle here in Siquijor. With its affordability (a brand new Rusi motorbike is as low as P45k), people just buy motorcycles...especially those who live up in the mountains.
  3. The Boulevard - Lazi's main draw is its seaside cobblestone promenade. When the sun goes down, people gather here for eats, drinks, open-air, harbor view and the sunset
  4. Lazi Port - Lazi just recently opened up its port with Kho Shipping plying the Iligan, Tagbilaran and Cebu routes.
Lazi >> Iligan City by boat

Lazi to Iligan City route by Kho Shipping was just opened up in early April 2023. Before, going to Iligan City meant going to Siquijor Port, 30 km away. This also meant that on the way back, you have to be in Siquijor before 2pm to catch the last jeep to Lazi. With this direct route, there is no 'last trip' to catch.

  1. Lazi Port - take Kho Shipping to Iligan City, Tu-Th-Sat, 6 hours, Lazi departure 5 am, arrival in Iligan City Port 11 am, economy P800, tourist P1100, tickets available at Lazi office 2pm-10pm M-Sat

  2. Lazi to Iligan City
Lazi >> Cagayan de Oro by boat

Lazi to Cagayan de Oro route by Kho Shipping was just opened up in early September 2023. Before, going to Davao meant going to Iligan first, then bus to CDO and then bus to Davao City. Now, Iligan can be completely bypassed saving about 3 hours on the trip.

  1. Lazi Port - take Kho Shipping to Cagayan de Oro, Tu-F-Sun, 6 hours, Lazi departure 6 am, arrival in Cagayan de Oro Port 12 noon, economy P1,100.00, tourist P1,400.00, tickets available at Lazi office 2pm-10pm M-Sat

  2. Lazi to Cagayan de Oro
Lazi >> Dumaguete by boat

Lazi to Dumaguete route by Kho Shipping was just opened up in early September 2023. Before, going to Dumaguete meant going to Siquijor Port, 30 km away. This also meant that on the way back, you have to be in Siquijor before 2pm to catch the last jeep to Lazi. With this direct route, there is no 'last trip' to catch.

  1. Lazi Port - take Kho Shipping to Dumaguete, M-Th-Sat, 3 hours, Lazi departure 1 am, arrival in Dumaguete Port 4 am, economy P300, tourist P500, tickets available at Lazi office 2pm-10pm M-Sat

  2. Lazi to Dumaguete
Lazi >> CDO >> Davao City by boat/bus

Lazi to Cagayan de Oro route by Kho Shipping was just opened up in early September 2023. Before, going to Davao meant going to Iligan first, then bus to CDO and then bus to Davao City. Now, Iligan can be completely bypassed saving about 3 hours on the trip.

  1. Lazi Port - take Kho Shipping to Cagayan de Oro, Tu-F-Sun, 6 hours, Lazi departure 6 am, arrival in Cagayan de Oro Port 12 noon, economy P1,100.00, tourist P1,400.00, tickets available at Lazi office 2pm-10pm M-Sat

  2. Lazi to Cagayan de Oro

  3. Cagayan de Oro Port - arrival 12 noon. Take a jeep to East Terminal (Agora) to catch the Davao-bound bus
  4. CDO East Terminal (Agora) - take bus going to Davao City, 8 hours, PHP 875. This terminal is open 24 hours and there is always a bus going to Davao - no need to pre-purchase tickets
  5. Davao Bus Terminal - you'll arrive at the Davao Bus Terminal, close to SM City. From there you can take a cab ride to your hotel. There are many jeeps that will also take you to the Poblacion town center, 15 mins, PHP 12
Lazi >> Tagbilaran >> Cebu by boat

Lazi to Cebu entails a stopover at Tagbilaran - you only pay for one ticket (I've broken down the individual trips in case you're boarding from Tagbilaran). From the 5pm boat departure from Lazi, it would cost PHP 1000 (it's odd that it's cheaper to pay for the individual trips rather than paying for both...PHP 845 vs 1000) and take about 10 hours.

  1. Lazi Port - take Kho Shipping to Tagbilaran, W-F-Sun, 4 hours, Lazi departure 1 am, arrival in Tagbilaran Port 5 am, economy P475, tourist P750, tickets available at Lazi office 2pm-10pm M-Sat

  2. Lazi to Tagbilaran to Cebu

  3. Tagbilaran Port - arrival 5 am, layover 1 hour, departure for Cebu 6am (5 hours), economy P370, tourist P520
  4. Cebu Port - arrival 11 am

More on Siquijor Island:

Siquijor Island Local Info

Jeeps - there are only 2 routes for jeeps within Siquijor Island - and they are rare. Most people have their own motorcycle transport.

  1. Siquijor Port to Lazi - last trip leaves at 3pm from station near market
  2. Lazi to Siquijor Port - jeeps depart from the Lazi Port area. 5 jeeps, the last trip at 12:30 pm. Lazi to San Juan, P50.
  3. Larena Port to Lazi - jeeps are unpredictable. As of this writing, there is only 1 jeep plying the Larena-Lazi route. This jeep leaves Larena for Lazi at 9:50am. After that, no more jeep. You'll have to take a tricycle to Siquijor Pob for jeeps going to Lazi
  4. Lazi to Larena Port - 6am (daily) and 9 am (M-Th)

Food - these were suggested by a local to me

  1. Lechon manok & liempo - roasted pork belly and chicken at Joel's in Siquijor Poblacion. I've tried this myself...yummy, even if the chicken was no longer hot
  2. Bibingka - sweetened rice cake by Fidy's Bibingka (P30) in Sawang, Maria. I've come back for this and I buy for other people as well as 'pasalubong' - they love this
  3. Siopao - at the Rosita store near Thrifty (P25) in Siquijor Poblacion
  4. Peanut butter - by Rene. Just ask around in Siquijor Poblacion. It's popular
  5. Torta - sweet cakish bread at the Thrifty story in Siquijor Poblacion
Siquijor Island Map
Siquijor
Siquijor - Dumaguete Boat Trips (as of Jan 2023)
  1. Montenegro Lines - at Siquijor Port, P234.00/pax, P169/bicycle, 7:30am/10:00am/2:00pm/4:30pm

  2. Montenegro Lines, Siquijor to Dumaguete

  3. Aleson Shipping - at Siquijor Port, 6 am and 6 pm daily, 1:30 pm M-Sat, Regular P200.00/pax, Aircon P250.00/pax

  4. Aleson Shipping, Dumaguete to Siquijor

  5. Ocean Jet - 40 mins,at Siquijor Port, 0919.066.5964, www.oceanjet.net, marketing@ocenajet.net, 6:00am/6:00pm, P350/pax (tourist/open air), P580/pax (business class)

    Ocean Jet


Siquijor - Tagbilaran - Cebu City Boat Trips (as of Jan 2023)

En route to Cebu City, the ferries usually make a stop-over to Tagbilaran (Bohol) to pick-up more passengers or unload.

  1. Ocean Jet - 2 hours, 8:20am, at Siquijor Port
    To Tagbilaran: P800/tourist & open air, P1200/business class
    To Cebu: ?
  2. Lite Ferries - at Larena Port,
    To Tagbilaran: T-Th-Sun, P475/standard, 7pm, 3 hours, PHP?
    To Cebu: T-Th-Sun, 7pm, 7 hours, PHP 650


Siquijor - Plaridel Boat Trips (as of Jan 2023)
  1. Lite Ferries - at Larena Port, T-Th-Sun, 2:00 am, 5 hours, PHP?


Siquijor - Cebu (Liloan) - Cebu City BUS Trip (as of Jan 2023)

There is only one bus plying this route - Sugbo Urban. Tourist class coach, a/c, comfortable, Sun-Fri (these dates keep changing). P420 for bus, P275 for ferry to Liloan. Larena Port around 5 am, makes a clockwise roundtrip around Siquijor Island - Larena, Enrique Villanueva, Maria, Lazi (stops at Lazi market for breakfast and leaves 6:50 am), San Juan, Siquijor (arrives 8am, P50 from Lazi to Siquijor Poblacion) and catches the 1pm ferry at Larena Port (Sundays at 3 pm) for Liloan, Cebu and resumes its land route. Arrives Cebu City (South Bus Terminal) 10 pm.

Sugbo Urban is the cheapest and most convenient way because it goes around the island (clockwise) along the circumferential road, passing through - Enrique Villanueva, Maria, Lazi, San Juan, Siquijor...and back to Larena where it takes the ferry at 1 pm. This saves you the hassle and high transport cost of a tricycle. Besides, it's a long trip from the other side of the island to be taking by tricycle.


Sugbo Urban

Sugbo Urban

Suggested Destinations After Siquijor Island

These are the nearest popular destinations from Siquijor by boat

  1. Bohol - Bohol is an island northeast Siquijor. Tourist attractions are Chocolate Hills, Tarsier Monkey, Loboc River Cruise, Beaches of Panglao, whale sharks (recent offering), freediving (recent offering)
  2. Cebu - Cebu City is the usual gateway into the Visayas. But in Cebu Island itself, there are many offerings - Whale Sharks of Oslob, sardine run at Moalboal,Thresher Shark of Malapascua
  3. Dapitan (Zamboanga del Norte) - I haven't been there but a lot of island ferries ply this port. There must be something here.
  4. Dumaguete - Dumaguete is a small charming progressive coastal town in Negros Oriental. Cafe and restaurants line the famous Boulevard Boardwalk. Tourist attractions include Japanese Shrine, Casaroro Falls, snorkeling along the southern coastline (Dauin, Masaplod Norte, etc), Balinsasayao Twin Lakes
  5. Plaridel (Misamis Occidental, Mindanao) - I haven't been there but a lot of island ferries ply this port. There must be something here.

Blogs

Siquijor Blogs
Siquijor Island
  1. Sep Snapshots: Fisherman, Granny, Pedicure September 1-30, 2023
  2. Together Forever Sep 11, 2023
  3. The Cigarette Talk Sep 1, 2023
  4. Siquijor Star Meditation Center Aug 31, 2023
  5. The Lost Dogs of Siquijor Aug 27, 2023
  6. Moving to a Bungalow! Aug 22, 2023
  7. Aug Chronicles: CDO produce August 31, 2023
  8. Aug Snapshots: Pan de Sal, Palpitate, Taho, Tuna, Pineapple August 1-31, 2023
  9. [an error occurred while processing this directive]
  10. July Chronicles July 31, 2023
  11. July Snapshots July 1-31, 2023
  12. Learning Cebuano: July July 1-31, 2023
  13. June Chronicles June 31, 2023
  14. June Snapshots June 1-31, 2023
  15. Learning Cebuano: June June 1-31, 2023
  16. May Chronicles May 31, 2023
  17. May Snapshots May 1-31, 2023
  18. Learning Cebuano May 1-31, 2023
  19. In Search of a Cool Climate May 25, 2023
  20. The 64 km Bike Ride May 16, 2023
  21. Lazi Fiesta May 15, 2023
  22. The Boulevard Opening May 5, 2023
  23. April Snapshots April 1-30, 2023
  24. Learning Cebuano...Again! April 1-30, 2023
  25. Kris Visits Siquijor Mar 17 - Apr 15, 2023
  26. Exploring Siquijor with Marky Mar 25 - Apr 11, 2023
  27. Siquijor Healing Festival April 5-8, 2023
  28. The Talk at United Church of Christ April 2, 2023
  29. Mar Snapshots Mar 1-31, 2023
  30. Vigil for the Ghost Ship of Siquijor March 31, 2023
  31. Judging an Essay on Gender Equality Mar 29, 2023
  32. The Thief, the Shaman, the Elves and the Police Mar 20, 2023
  33. Finally Acquiring the Motorbike Mar 18, 2023
  34. Bitcoin Blunder Mar 15, 2023
  35. Maria's Unsung Beaches Mar 11, 2023
  36. Lagaan Falls Mar 9, 2023
  37. Tibhong Spring Water Source Mar 8, 2023
  38. Bolo-Bolo Natural Spring Mar 2, 2023
  39. Reasons to Get a Wife March 1, 2023
  40. Feb Snapshots Feb 28, 2023
  41. Camagung-Ong Natural Spring Feb 28, 2023
  42. Heeeere's Johnnie! Feb 26, 2023
  43. Manifesting a Motorbike from Thin Air? Feb 18, 2023
  44. The 'Bad Guy' of Siquijor Feb 15, 2023
  45. Amazement from Drivers License Renewal in Siquijor Feb 15, 2023
  46. Locong Falls Feb 9, 2023
  47. Inguinal Hernia? Goodbye ABS! Feb 4, 2023
  48. Jan Snapshots Dec 31, 2022
  49. In Search of Tubod Cold Spring Jan 27, 2023
  50. 1:4:2:3 Nadi Shodana Jan 26, 2023
  51. Lazi's Boulevard Jan 22, 2023
  52. Lazi: A Monthly Stay Jan 21, 2023
  53. 7 Days in Maria, Siquijor Jan 14-21, 2023
  54. Capilay Spring Jan 17, 2023
  55. Siquijor: In Search of Resonance Jan 9-14, 2023
  56. Riding Around Siquijor's 86km Coastal Road Apr 3, 2012
  57. Exploring the Cantabon Cave of Siquijor Feb 23, 2012
  58. Jovee and Missy's Excellent Adventure Nov 6-7, 2010
  59. Freediving in Siquijor's Marine Sancturaries Apr 23-24, 2010
  60. Island Tour of Siquijor Apr 22, 2010
  61. Kram's Siquijor Wedding Apr 21, 2010

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