Reputation of Bitcoin in the Philippines. - page 4.

CryptoSmile

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Quote from: kjnfmplm on April 11, 2018, 06:19:59 AM

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

The situation is very apprehensive and of course there will be an effect on bitcoin, but Filipinos will not be that easy to believe the negative news about bitcoin. because more will be good can be seen through bitcoin in particular the success of people who invest bitcoin. I'm sure investors in the Philippines are not easily affected by the news because they have a lot of good experience with bitcoin.

Kemarit

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And after more than a month, Filipinos already move on as I haven't heard anything regarding the news. Is the couple already in jail and proper steps are taken so that this scammers can be put in jail for a long time? The latest news I heard is that one Senator is urging the Senate to prioritize bill regarding cryptocurrency and heavier penalties, fines and jail time should be put into law. Her propose bill wanted scammers to be punishable by life imprisonment. So let's wait and see if this will be approved the Senate so that every scammers out there will think twice before doing such crimes.

Quote

"As I've mentioned before, our penal laws must adapt with the changing times and our criminal justice system must come prepared in the event like this," she said.

De Lima noted that illegal activities involving virtual currency include "estafa where unscrupulous individuals entice unsuspecting people to purchase fake bitcoins, sending a virtual currency as payment for child pornography, or a public officer agreeing to perform an act in consideration of payment in bitcoins (direct bribery)."

http://www.senate.gov.ph/press_release/2018/0416_delima1.asp

kurdapyo

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well maybe newbie on cryptoworld would lose their faith on bitcoin due to this incident but, Filipinos always try to enter and adopt these changing world to earn a bigger income. Maybe the reputation will decrease but as I've said, they will try again, so its tendency is to rise again

YuiAckerman

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Yes... it was a big impact to our country about that scam accusation in the blockhain industries and well it was planned and who didn't know about bitcoins will be scam... so for those who want to earn about this blockchain technologies or industries.. please study so you will not to be the one of the victims of that scams and ponzi community

romero121

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Philippines is one among the Asian country where bitcoin has got large user network compared to other countries. The recent scam by the Philippines couple targeting new users and scamming them had led to regulations. With this I don't think the reputation gets affected because Phillipines being a small country it is easy to make people understand than restricting.

fiulpro

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The people who knows nothing about Bitcoins will now have a prejudiced view over it.. the strong investors in the market really understand that these kind of frauds happens with fiat too...
The thing is how government will percieve it and how the future potential investors will see it is the real deal...it. Will offcourse have a negative impact on them.
Also the people in the middle age group and the old ones will have the biggest impact in my view since they are not that techy .

Monta3002

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Quote from: kjnfmplm on April 11, 2018, 06:19:59 AM

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

It will only affect those new to bitcoin because they don't even know what is the real thing behind bitcoin or they have lack of knowledge. Other investors or experts will not be affected because they are professionals

CuteBaby123

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Quote from: kjnfmplm on April 11, 2018, 06:19:59 AM

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

This is just an isolated case and only aired once. After that, people already forget about that news and continue to invest and transact in bitcoin. As I can see it, it is not the fault of Bitcoin but the people who foolishly give their money to a person whom they barely know.

Crypto vs Metals

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It's just sad that people from pyramiding scams use Bitcoin as their front. Luckily most people here in this forum are DYOR and we need to teach new investors on the right way. If you hear guaranteed 1% a day you should stay away from it. The "hype over Bitcoin makes it easy for scammers to lure unwitting investors".

Zabrielle

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Yeah i heard about it too. There are some of my friends asked me if bitcoin is really a scam. I said there are so many ways in earning of doing bitcoin. That scam you see in tv is literally an illegal. My work in bitcoin is different do i believe bitcoin is not a scam. People dont understand. They tend to judge but i still continue supporting bitcoin.

dimastegar

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Small Trader

Bitcoin's reputation in the Philippines may be down slightly because of it. But for the world-scale cryptocurrency I do not think it will affect, because the problem has a small scale in the Crypto world. And I am puzzled why anyone would make a pyramid system for their own benefit.

Janpura

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Quote from: kjnfmplm on April 11, 2018, 06:19:59 AM

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

It is a challenged to all of us who trust bitcoin that we should further strengthen the support and promotion of bitcoin, that any news we hear will not affect our faith.
maybe it affects a bit impact in the reputation of bitcoin in the Philippines .
It might reduce its investors and those who are new to the cryptoworld maybe it will take time to think and others does not continue.

ene1980

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Quote from: kjnfmplm on April 11, 2018, 06:19:59 AM

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

There are much bigger scams and ponzi schemes run by fiat currencies and did it affect the flow of money. Tongue

People who are likely to use bitcoin or any form of cryptocurrency will use it if they find it useful as a mode of transaction or a store of value, scammers like try to take advantage of anything and it has nothing to do to destroy its reputation.

Rakabel619

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Hello. I think they will lower the bitcoin investments in the Philippines due to these happenings. there have been many pyramid type scams, and many people have lost money believing in the project and investing their money

Nodehype

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very strong community fillipinas has

panovnu

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This is common problem in developing countries where people are less aware. Due to greed , they fall for these get rich quick schemes.

Nylelyn

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There are people who exist to take advantage of situation to the extent that it can destroy something that is valuable along with the high potential to be an instrument to alleviate poor conditions. This is my reflection of the recent scam that came out. These people should learn how to value hard earned money. The negative can be detrimental to new investors.

Erlinda Santiago

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Quote from: kjnfmplm on April 11, 2018, 06:19:59 AM

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

reputation of philippines that they cn use bitcoin whenever they are or where they wnt to use it but some companies are banning btc

Finestream

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Quote from: posternat on May 16, 2018, 09:48:31 AM

Quote from: kjnfmplm on April 11, 2018, 06:19:59 AM

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

It impact a lot, people can start hating bitcoin and it can ruined the reputation in Philippines. Not only bitcoin but other crypto currency are also in danger. This is huge amount and for the safety Philippines government can ban bitcoin which can impact bitcoin growth. Just for other careless people stop believing in bitcoins plus newbies will never take part after hearing false news that bitcoin is a scam.

I can say that this negative news has only made an impact to those people who does not know bitcoin at all.But for those legends in bitcoin community,they will just treat it as an ordinary media pressure trying to pull down the price.But look at now,the news has gone so fast.People are starting to give interest to bitcoin since bitcoi is proven to be legit and safe.

capoklhok

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in fact there are still too many people who want to get the benefits and to be able to make good news for bitcoin at the present time, but it all depends on us how do we get better, Banks can help us in investing but they will give us the way or briefing and it is the best bank, it will. But if people without a business background are related or do not have a way of doing business, maybe they should think twice ...

Topic: Reputation of Bitcoin in the Philippines. - page 4. (Read 749 times)