Will bitcoin be banned on Philippines? - page 10.

charlotte04

full member

Activity: 504

Merit: 102

Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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?

Our government in the Philippines should be aware of those scam companies or what we call pyramid schemes that ruins that name of Bitcoin and other crypto currencies. I hope someone will make the government be aware of AirBit since it will be also a scam company soon.

Mikejones64

newbie

Activity: 86

Merit: 0

Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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 don't think that incident would be enough to ban cryptocurrency in Philippines. Those victims were scammed by a person, not the ICO itself. Pyramid scheme and scamming is common in this country, it's not bitcoin that'll be banned, it's the pyramid scheme networking.

300pips

jr. member

Activity: 131

Merit: 1

Yes, theres a possible chance. Because mafias and pyramiding schemes are using Bitcoin as the joining requirement in their scam. One of my co-workers has a very bad impression of Bitcoin, he told me that Bitcoin is a scam because a scam company didnt pay their expecting profit.

Because of scams and pyramiding schemes, ignorant people are blaming Bitcoin.

Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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?

heartwreck

newbie

Activity: 162

Merit: 0

I dont think so..it will not be a good reason that the government will stop bitcoin here in the Philippines.And many of us using bitcoin and get it in many ways, there are just few who used it in bad manners.

YED

full member

Activity: 209

Merit: 100

This thing cannot be stopped.

21st century will be known for blockchain technology among other things. So don’t miss out being a part of history bullshitting yourself that anything could happen.
It will never be a legal tender but that doesn’t mean it is illegal. A legal tender is something you give to a person who sells you some goods or services. For ex - INR is legal tender.Can you buy vegetables with gold? Gold is also not a legal tender.
If however, let’s suppose for argument’s sake that Bitcoin does get banned. Well, crypto family will join together and bring the fucking govt down. There will be riots in New Delhi and blood will be spilled. Because crypto is also a religion and we are fundamentalists lol.

I think govt is smart enough not to ban it. They just want to collect more and more tax and send it offshore to their illegal accounts. Crypto people are more than ready to pay taxes.

bitllionaire

legendary

Activity: 1120

Merit: 1000

Quote from: victorski on May 05, 2018, 04:28:47 PM

I Would preffer to see bitcoin allowed and accepted all arount the world, another case we would face som etroubles by that.

In fact that is the future of bitcoin, bitcoin will very soon be accepted as their main currency and hope that very soon we will use bitcoin for everything without having any difficulties because very soon people will understand the importance of bitcoin and will start using bitcoin in their day life for everything.

victorski

member

Activity: 238

Merit: 10

I Would preffer to see bitcoin allowed and accepted all arount the world, another case we would face som etroubles by that.

GoodLuck2

sr. member

Activity: 630

Merit: 251

Quote from: Bosx1ne on May 02, 2018, 01:11:41 AM

Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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?

Philippines will not ban cryptocurrencies. Actually, Philippines is creating plan that will help the bitcoin to become more popular all over the country. There are now many businesses in the Philippines that fully accepted bitcoin as money.

In Philippines, the awareness rate of bitcoin and the rest of the crypto currencies is far more than that of any other country and that there is a huge number of investors who are investing in different crypto coins while being there. I don’t think so that any of the crypto currency will be banned and that too in a country where the economy is getting stronger and stronger just because of the crypto currencies.

satecream

full member

Activity: 322

Merit: 102

well it actualy new in the philippines and i think they goverment still thinking the best way of it to using bitcoin and keeping it stay in the dock for the real ecosystem that for payment or transaction so still long for the banned i think

harsak06

member

Activity: 182

Merit: 10

No it wont, because of the facts that Philippines is one of the highest smartphones using country and it cant be done. Besides, people using bitcoin are the one whose responsible for that scamming not the currency itself.

Master Third

newbie

Activity: 161

Merit: 0

i don't think so. The bitcoin community in the Philippines is growing and this group of people can testify that bitcoin is not a scam by showing their transaction experienced and profit. so one two scammerswere not enough to be the basis why bitcoin should be ban in the Philippines if many are using it and getting profit aside from this bank of the Philippines is supporting bitcoin.

unknown-user

full member

Activity: 445

Merit: 100

Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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?

As you can see on the news there is a possibility but they didn't say it but they give us an advise on where to put our money. They didn't believe on bitcoin but they didn't also oppose on it. There are still ko clarification whethed the PH would ban bitcoin. But there are fresh news about this guy who borrow money to invest in Bitcoin but it failed.

dwieyani

full member

Activity: 252

Merit: 100

Crypto is used as an investment scam, many other things used as an investment scam in the Philippines have happened so I can not say it. now most countries have done set cryptocurrency rather than forbid it.

criz2fer

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Activity: 672

Merit: 127

Quote from: cherryfer on May 03, 2018, 10:38:07 AM

Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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) operativeso – 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 already knew about the news last month about many Filipino people was a victim of the said crypto currency scam using the name of bitcoin, that's why almost all Filipino are hate Bitcoin and it was suddenly predict that Bitcoin is a scam. Anyway I hereby certify that Bitcoin is not scam. Bitcoin was build for all people it's either you rich or poor people all have accessible to use Bitcoin that's why some other organization taking advantage to use Bitcoin victimized too many people in behalf of Bitcoin.

Bitcoin is not a scam and it will never be banned. Currently, there are just FUD that making bitcoin as scam in the eye of an ordinary people in the Philippines without looking in the deeper story. Most of them are jut fake news to stop investing in bitcoin because many people could earn from it if they encourage more citizens.

Edraket31

hero member

Activity: 1190

Merit: 511

Quote from: cherryfer on May 03, 2018, 10:38:07 AM

Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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) operativeso – 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 already knew about the news last month about many Filipino people was a victim of the said crypto currency scam using the name of bitcoin, that's why almost all Filipino are hate Bitcoin and it was suddenly predict that Bitcoin is a scam. Anyway I hereby certify that Bitcoin is not scam. Bitcoin was build for all people it's either you rich or poor people all have accessible to use Bitcoin that's why some other organization taking advantage to use Bitcoin victimized too many people in behalf of Bitcoin.

Still thankful that after that those people involved in it now finally facing the jail, so far I am proud of our Police that did everything for them to pay for the damage that they have done, so for all people it should be a lesson learned.

Ingoats

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Activity: 518

Merit: 100

Quote from: ?? on ??

Quote from: Lady Coquet on May 01, 2018, 12:16:32 PM

Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

-snip-

I am also from the Philippines and i think bitcoin will not be banned in the Philippines because the government in our country do not see a lot of problem in using bitcoin even it has a huge percentage of scam. Bitcoin can still help people in the Philippines to have a source of income and to help the economy of the country.

Look at other countries in Asian, Thailand, Singapore all have the frame legal work to manage the activity of cryptocurrency in these countries.
Why the rich countries do that earlier than other developing nations in Asian?
Because they are the smart people, they have better intellectuals than the people in other countries.
So, if the Philippine government ban Bitcoin, they only make their chance to grow the country's economy disappears.

Losing the opportunity for this country to be successful in the world of cryptocurrencies is a disappointment for its citizens, especially those who use bitcoin in that country. A single case should not be a barrier and the main reason to ban bitcoin in a country. We all experience failures here, and it is part of our lives. We should not accept only the good, but also the challenging ones.

cherryfer

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Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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) operativeso – 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 already knew about the news last month about many Filipino people was a victim of the said crypto currency scam using the name of bitcoin, that's why almost all Filipino are hate Bitcoin and it was suddenly predict that Bitcoin is a scam. Anyway I hereby certify that Bitcoin is not scam. Bitcoin was build for all people it's either you rich or poor people all have accessible to use Bitcoin that's why some other organization taking advantage to use Bitcoin victimized too many people in behalf of Bitcoin.

shoujiuhaituo7

jr. member

Activity: 210

Merit: 3

All of this is unpredictable, but I believe the Philippines will not ban bitcoin altogether, and they may introduce policies to regulate bitcoin transactions, such as tax collection.

ufaiz50

hero member

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it's just that if the government sees this case as a big problem I'm sure bitcoin will be banned and that case could be the reason why bitcoin is banned, but if we look at this then little bit of an investor's fault that over belief in this kind of investment place, I think it's like MLM or HYPE / money game right?

Bosx1ne

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Activity: 540

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Quote from: EzBreezy on April 11, 2018, 10:39:02 PM

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?

Philippines will not ban cryptocurrencies. Actually, Philippines is creating plan that will help the bitcoin to become more popular all over the country. There are now many businesses in the Philippines that fully accepted bitcoin as money.

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