Topic: Will bitcoin be banned on Philippines? (Read 2078 times)
No, I do not actually think it will get banned because the government understands the bitcoin itself was not involved in that illegal actions and I do hope that later on this cryptocurrency will get back to stability and will stay away from all the illegal things that it has been into.
It is awful! I have just read few days ago, that Philippines accepted a Bitcoin and Crypto in general, but now you said this... What next? :0
The incident is not new in the Philippines; with or without bitcoin, these scammers would always find tools and other modes to take advantage of the no-brainers who want to get rich instantly. It just so happened that this is the era of coins.ph when it comes to money transfers.
Only imbeciles will associate this incident to bitcoin as a scam... and if the government tends to ban crypto, then we can always find ways to cash out our bitcoins. There is always the same old fashion way, my friend.
Only imbeciles will associate this incident to bitcoin as a scam... and if the government tends to ban crypto, then we can always find ways to cash out our bitcoins. There is always the same old fashion way, my friend.
Over 900 Million pesos worth of bitcoins been scammed.
Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
I think it wont be banned in Philippines cause they know that Filipino love cryptocurrencies many.Filipino are dependent on cryptocurrency.and many works can provide by bitcoin. Why dont you try to ask our government they will answer your questions and I know they will provide some alternative ways Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
There lot of news in the television in philippines that people arrested by scamming using bitcoin. If those people wont stop i think there are no future in the philippines for crypto
I expect the Philippine government to consider the benefits if bitcoin is used, as we know that users of cryptocurrencies in the Philippines are increasing so that it makes a huge economic impact for Filipinos.
It will be up to Philippines government to decide what is the best option for their country to accept the bitcoin and charge tax for the transactions, to limit its use or to ban it completely.
I hope not! overcrowded by negative side without understanding the reason behind .that was commonly the problem of cryptocurrency in many country , mainly in Philippines.and because of that they consider bitcoint as scam.. investing without proper knowledge . lure by the promises of big profit and at the end lead to disappointment..
Yes, that is true mate. Its not possible that Philippine government would ban bitcoin just because of the scam. Not only the people are the victim of it but also bitcoin. They are using the name of bitcoin just to lure and scammed people who dont know about what they are getting involve with. Philippines embraced and considered cryptocurrency a blessing for everyone because it gives a lot of opportunity to unemployed filipinos and those who believe in btc to earn money from their investments and from working in signature campaigns. That's why banning is impossible. 
I hope not! overcrowded by negative side without understanding the reason behind .that was commonly the problem of cryptocurrency in many country , mainly in Philippines.and because of that they consider bitcoint as scam.. investing without proper knowledge . lure by the promises of big profit and at the end lead to disappointment..
More and more countries are banned bitcoin then this makes the popularity of bitcoin continues to increase and of course this will make a lot of people curious and end up using bitcoin.
I agree with you, as more negative news circulating about banning of bitcoin or misapprehension coming from different people the more it becomes popular and more are getting interested about the technology and its valuable aspects. In 2017, central bank of the Philippines and its regulators are planning to create regulatory standards and guidelines for digital assets like bitcoin. More Filipinos are now earning from it either full-time and part-time and more business firms or establishments are accepting it. I hope Philippines will not ban bitcoin because it has been very helpful to its people. 
There are possibility that Philippines will banned crytptocurrency because of many news that many Filipinos has been scam by bitcoins scam investments but there's also a possibility that bitcoin will introduce by government because many Filipinos are jobless and bitcoin might be one of their source of income.
There are too many different rumors that Bitcoin and the other cryptocurrencies can be banned in this country. However, in my opinion, it will not happen ever.
I just hope that it will not be banned in the Philippines. A lot of people here in the Philippines depends in Bitcoin financially. Not only that this is perfect for Filipino when it comes to remittances.
I agree with you, Philippines must not ban bitcoin. Because its helpful for the economy and some people they find bitcoin to earn extra income and they find bitcoin as a job to have salary to help their family.There is no need to ban because there is a regulation that already working by the Central bank of the Philippines https://news.bitcoin.com/the-philippines-central-bank-considers-regulation-standards-for-bitcoin/ to support Bitcoin existence and not to be use in illegal activities such this scam activity. Sooner or later Bitcoin will be legal here in the Philippines and will be the end of these fraud people that are using Bitcoin platform just to steal money from the people.
More and more countries are banned bitcoin then this makes the popularity of bitcoin continues to increase and of course this will make a lot of people curious and end up using bitcoin.
Over 900 Million pesos worth of bitcoins been scammed.
Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
Sad to hear a need like this because of money they put their life in jail how people like them eat and sleep by scamming others money it so pathetic. I think they not ban it in that country because many people do that in other country but still bitcoin is running and they use it to their country. Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
If people continues to use bitcoin as their tool to take advantage of others, this includes investment scams. The complexity of bitcoin makes it hard for some people to understand how it functions which makes them an easy target for scammers.
Over 900 Million pesos worth of bitcoins been scammed.
Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
Greediness is one factor why different country banned bitcoin. I think this can contribute for the government to banned bitcoin hopefully not. I just want to say that it is better to make bitcoin more safer by regulating it toughly. Hoping that many of us should learn this lesson so that Philippines will never banned bitcoin.
Over 900 Million pesos worth of bitcoins been scammed.
Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.
Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.
The complaints started piling in when investors lost contact with the Ordonios.
Whats happened next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.
Will bitcoin be banned because of that?
Well, no one knows until the time comes. But on my own perspective, they wouldn't ban bitcoin. Technically, those who had been scammed were just joined in a group then gave their money and was promised that will earn a lot. Those are people are not aware how bitcoin works and just took advantage by the scammers. Government for sure, will not ban bitcoin by just that.
I just hope that it will not be banned in the Philippines. A lot of people here in the Philippines depends in Bitcoin financially. Not only that this is perfect for Filipino when it comes to remittances.
I agree with you, Philippines must not ban bitcoin. Because its helpful for the economy and some people they find bitcoin to earn extra income and they find bitcoin as a job to have salary to help their family. Honestly, if a bitcoin ban happens in the Philippines that would be a grave disaster to the Filipinos. The country is a financially wretched one with some of its citizens barely trying to survive of this new found oxygen - Bitcoin. A ban would even mean nitcointa losing some of the Filipinos here. Yes, I know some people believe their contributions on the forums aren't worthwhile but we still have some thriving posters from that country.
For the sake of these few posters, I want to wish that nightmare away.
For the sake of these few posters, I want to wish that nightmare away.
I believe that the government will not ban bitcoin. Well, it has a huge impact towards people if the banning issue happens.
Bitcoin is helpful to Filipinos, but some people are just so greedy and do scams which will affect the decision of the government and as well as the citizens.
There’s a chance because of that scam I hope it will not because many people rely their incomes in bitcoin.
I dont think that because of scam happened here in our country, bitcoin will be banned, in my opinion scammers will not be successful in their intention if you will not let them scam you, but anyway if they are knowledgeable regarding bitcoin maybe the scammer will not be successfull in their intention, but because of this i know that government make a strategy or ways in protecting bitcoin user that this will not anymore happened again.
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