Topic: So a bitcoin scam has been getting a lot of publicity in the Philippines lately (Read 1166 times)

Until now I didn't know that it was some scammed investment platform that he is promoting. Thanks for finding it out for us! I better post this to our local group on social media to let them know about this. Cause some of them might find it real by confusing with this man's speech. that's really a big name out there, his show is watched by millions of Pilipinos.

That is why people should be keen in using social media especially if their interest, crypto currencies, intersect with it. Since the era of modern technology, social media, people are bombarded with fake news. As a crypto enthusiasts, it is our responsibility to assess, analyze and investigate information that we receive before believing it specifically about crypto currencies as we are putting our funds in the system. Celebrities are mostly engaging with endorsements because they are payed just to advertise something even if they do not fully understand or use a particular product. Even if well known people are involve with the releasing of information, we should be doubtful for identity cannot justify the truth.

It do really sucks when you do saw on TV on to those celebs doesnt really have that basic knowledge.It will surely give out negative impression yet these people are
way too influential which they are really capable on brainwashing peoples mind.For those who doesnt have basic knowledge about crypto and exchangers then for sure
they would really go along to that negativity towards crypto.

This isnt really a new thing about bad media or advertisement.Some things would really have that misinterpretation or misinformation.

So, remember that tip I sent to Philippines agencies a few days ago? Never heard from them since. I wonder if they had just acknowledged my tip though as these scam sites are still online.

But at least I got the negative reviews through, except for sitejabber which deleted my negative review again.

There are many ways if you dont want to be trace in bitcoin transaction. Mixer is one of the way trading in every different exchange is also possible to do and deposit and play in gambling website in that case once you widraw your bitcoin it is different from what you deposit.

Probably the Bitcoin Revolution is just another Ponzi scheme that uses celebrities to gain more investors. It's very sad that desperate devs use other people just to get the investors they want. The consequence of their action, Filipinos will definitely lose interest in Bitcoin because they thought it's a scam since Boy Abunda stated that he doesn't endorse the cryptocurrency autotrading program.

These people aren't really affiliated with cryptocurrency, they're just using it for their own gain. On the youtube link, I noticed that users are commenting or spamming which is probably a bot that advertises PRIZM which is also weird since the video posted on the official YT of ABSCBN. People should know the difference between Bitcoin and Trading Platform, one of the basics to avoid wrong information.

I saw this in his TV Program I'm sad about how he said it, looks like he is allergic to bitcoin. In fact, Bitcoin is just a cryptocurrency being used as a payment method by scammers and bitcoin is not a scam. Bitcoin is just like a dollar, So if a dollar used as a mode of payment by scammers? the dollar is a scam? I wish he has more knowledge about it so he can clarify everything. Of course, it has an impact on those who don't have knowledge about cryptocurrency and blockchain. Ignorance is dangerous.

I've seen an ad about a certain celebrity in my FB newsfeed recently, I even checked out the website but can't remember the domain. I wondered at first if it was really true but I did not fully read the article and just closed the browser. So it was indeed a scam in the making advertisement, no wonder it doesn't suit my taste  Hope everyone will be aware of this Ponzi scheme.

These kind of scams usually cause greater damage to the community who are not vastly enrolled with the cryptocurrencies. I am sure, most of the people who might have found about these websites might have thought to invest in them as some of the greater personalities(probably the fake identities) from their country have been saying the same and moreover such scams get huge fund-raised and usually run away after they get profits which leaves behind a number of population which would never again gain interest in investing into the cryptocurrencies.

I would personally find some time from my routine to report these websites. Also good research about those OP!

Internet has made it possible to spread any news to a greater extend which almost covers most part of the countries. These people who were behind this scam might have some education qualities like digital marketing, graphic designing, etc which made them to convince other people that whatever they are publishing in 100% true. These might be some talented people not using their talent in proper section. They deserve to be under the bars because they would seriously harm a lot of people financially.

Social media, google advertising allows a lot of promotion no matter it leaves positive or negative impact on the community. Social media itself would help these to spread to the major extend.

People are taking advantages of the anonymity of crypto to scam others and the worst of the matter is that when such things happen, the trust the people have for bitcoin diminish because they start to see it as a route through which their hard earn savings are being taken from them. It is so sad that from what the op have said, alot of filipino have little or no understanding about bitcoin and this on the other hand will make them more vulnurable to scam. I hope soon, we shall have a more reliable way of dealing with bad eggs among crypto enthusiast that are using the technology to defraud people.

Other big names involved in this scam spectrum should voice out and clarify the have nothing to do with these scammers and sue them as well because bloody scammers are looting innocent people who invest from the hard-earned money. This creates a negative impact on the real trading companies as well. I have seen some of the tenured users falling in this trap as well so whenever we encounter any such things we need to highlight it in this forum and other crypto discussion forums so that it will help others.

Man, this is no longer a new thing. This type of scam is like a regular thing and I keep seeing a lot of them on platforms like Twitter and even Instagram. They pretend that their project is endorsed by celebrities and before you know it you’re scammed. These scammers keeps getting smart like everyday.

I once saw one that claimed to be from the Ethereum foundation and said they are giving away Ethereum for free but you will have to send a particular amount and they will multiply it by ten, for example: you send 0.7 Ether and they will send you 7 ETH. They were even doing a fake Livestream on YouTube featuring Vitalik Buterin, and disabled the comments section, lol such a wise move .

People always uses the weakness of others in order for them to get what they want to have, since Mr. Abunda really dont have a proper and wide knowledge about crytocurrency, he could be a perfect target by them. Us , bitcoin users needed to inform our friends and even all the countrymen what does cryptocurrency all about, when this news has been spread out many people will stereotype this one, and telling that all ways in crypto is not trusted, since abunda is influencial and being scammed, normal people would believe in what they hear and see not what will be the real crypto will be.

People get scammed because they're greedy and have high hopes. If someone is promising you 100% a year or more you should expect a scam! There's no free money and nobody is going to do something good for a stranger. It's not charity, it's a game of survival!

I don't feel sad for people who get scammed by HYIPS and ponzis. They can only blame themselves.

Unfortunately I have found this to be true as well. My neighbor in Pampanga got hooked in the Trade Coin Club, thinking that his deposit was going toward some kind of trading investment when really it was just a basic MLM / Ponzi scheme. Probably the most devious part about it was that he was referred to the scam by a fellow church member, whom he trusted and thought was a stand-up guy.

When I first moved in to my apartment, I struck up a conversation with the guy, and we got to talking about our jobs. I told him I wrote about bitcoin, and then he showed me his Trade Coin Club app. I took a look at it -- he showed me his easy profits and how it worked, and then thought, oh yeah, that's a scam. So I tried to explain to him why he needed to be careful...

Sure enough, you couldn't withdraw the funds until after a contract expired, and withdrawing beforehand would incur massive penalties. Basically there was no way to profit other than through recruiting others. So after our conversation the guy tried to get his "friend" on the phone (the one who got him into it), and I think he pretty much realized he had been scammed at that point (out of what was about 400,000 pesos at that time).

So how did the guy thank me? By buying a German Shepard that would bark every day (and every night) the next day. 

Not just recently, but most from the Philippines, specially the the generation x or what we call boomers, they believe that cryptocurrency is just a scam. It is because cryptocurrency became popular when scammers used cryptos to lure people in to investing because of the good offer. I think, it is just cryptos were introduced in a bad way that's why people think that it is a scam, while in fact cryptocurrency is legit and there are just some people who use it to scam others.

I heard about this news as well but since I used to watch on tv a scam related scenario involving crypto particularly bitcoin I was not surprise about this one.

But unfortunately for those people who dont have idea about crypto they will easily believe what they saw.

Scammers are doing every possible way to lure the people, advantage for them to use a popular personality for their own gains.

This why you need regulations, people are bound to be greedy and you cannot change them. If there was a law criminalizing such offence, then these scams would have been controlled to a large extent.

Sometimes regulations are good.

I hope it won't cause any considerations for a ban anytime.
Well I haven't even heard any news about thoughts of Duterte regarding cryptos anyway, just yet and I hope it stays that way.
I don't know what these trading bots do, but if there's gonna be case that some electronic will do the trades for me, I won't implement it in my strategy.