Will bitcoin be banned on Philippines? - page 11.

Lady Coquet

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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?

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.

burner2014

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I don't think that the government of the Philippines would banned bitcoin, of course not, when in fact they are doing a program now, something that can help people to know more about cryptocurrency, as they want their people to be involved in it.

b3j0

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they should not forbid bitcoin but they should take precautions to keep it from happening again. the command must issue rules to set the bitcoin.

Star_Bucks

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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?

Certainly not but most probably, it will strengthen the will of the government of the Philippines to regulate it to prevent this to happen. These people who are victim of this multi million scam, are those investors who don't have enough knowledge what they are investing in.

Jessy Mediola

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Activity: 340

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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?

It will never happen since bitcoin is now accepted in Philippines and most of Filipinoes are now engage in to it. And many investors from Philippines are now investing their money that has also a big participation in the economy. And it will not be possuble since many businesses are now accepted bitcoin as a medium of exchange.

BitcoinMarketer39

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ADABsSsSsSsSSSsS

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?

Yes there is a huge chance for bitcoins to be banned in the philippines since there are scam allegations regarding cryptocurrency in a networking concept like pyramid scheme and ponzi so they might ban bitcoins in the country as well.

Ikay

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Its not gonna happen because philippines is not more high technology that can banned crypto in their society so definitely philippines don't have the ability to banned a things wich they do not own.

chromosomes

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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?

Many of us has already heard of that news and bitcoin has been making a wide noise within the country. I don't think bitcoin will be banned in the Philippines still knowing that a lot of investors are already putting all their money on it which makes the country benefit from it. Maybe the users will be influenced not to use it anymore but still many people will keep on supporting.

Pepito Manaloto

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Activity: 377

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MenaPay - Crypto made easier than cash

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?

Scams do happen in any place in the world but still I don't think bitcoin will end up getting banned in the Philippines. So far, based om what I've heard on the news, the bank of the Philippines produced a precaution to the investors within the country to take double care since a lot of many is at stake for those who are investing in bitcoin. We should consider ourself lucky for having bitcoin safe within our area.

insikko0413

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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?

This is impossible because the government already accepted the use of bitcoin in some establishment.

btcmura

newbie

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Such scams do affect the trust of people on crypto. I am not sure about the government in your country but if there are similar incidents in my country, government may consider banning bitcoins.

isidrorex

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In my own opinion as a Filipino citizen, I don't think that Bitcoin and other Altcoins will be banned here in The Philippines. Despite the news about the 900 Million Pesos Bitcoin scam by a Filipino Couple, I don't think the Government will ban Bitcoin because the truth is many Businessmen are already interested and others are already engaging in Cryptocurrency. And besides, that 900 Million Pesos Bitcoin Scam by the NewG Company is already neutralized since the Filipino couple are already in jail and that's why Bitcoin is the "keyword" in their scam is because they promise that the money that the victims "invested" in their company will boom and they will get 30%-50& profit after 16 days and they will be payed through Bitcoin. I think the victims has also their lapses for trusting the suspects because if you really want to succeed in the Cryptocurrency Trading, you have to learn and study on your own so that you can handle your money well and don't trust other people to invest for you. In the age of information, ignorance is a choice.

ov3rflow9x

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I think reason of banning bitcoin is that it was being banned on some other countries, maybe because government can't control the whole financial system of blockchain

19spawnfeed

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Quote from: Pier7 on May 01, 2018, 07:14:32 AM

I think it won't happen just because of that unfortunate incident, bitcoin is declared legal here in Philippines and i think there are more people who enjoyed the benefits of bitcoin. Just be careful to choose the right exchange platforms to avoid getting scammed.

I think bitcoin will never be banned in the Philippines because some big companies are using now bitcoin as payment system like the Central Bank of the Philippines and this is a good news to all the Filipinos who are getting involved in bitcoin.

Pier7

newbie

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I think it won't happen just because of that unfortunate incident, bitcoin is declared legal here in Philippines and i think there are more people who enjoyed the benefits of bitcoin. Just be careful to choose the right exchange platforms to avoid getting scammed.

jlong187

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As I said few times, there must huge amount of changes to take place before the bitcoin will be a worldwide currency...

Ajinomoto40

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Buy, sell and store real cryptocurrencies

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?

The bitcoin in philippines is a big help for those unemployed people, they earning their own profits by their own and that is by the help of bitcoin. So I think that bitcoin shouldn't be banned in philippines because the government in there is aware that bitcoin is running in philippines.

goku1525

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Quote from: cheeseandcrackers on May 01, 2018, 01:52:50 AM

Do they ban money anytime someone embezzles it somewhere? Of course not. Banning bitcoin may happen, but it's never going to stop people from using it. Which means, banning it wont serve any purpose either as people will still be able to be scammed, somewhere. Pointless to ban it at all in my opinion.

Bitcoin in philippines has a big impact on people because reduces unemployed netizen. I think it will not happen ,as the matter of fact some of bank in philippines also have a good thoughts and people start to begin the positve thinking on bitcoin. The purpose of bitcoin is to help people who are less fortunate and serve the people in terms of payment transaction.

cheeseandcrackers

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Do they ban money anytime someone embezzles it somewhere? Of course not. Banning bitcoin may happen, but it's never going to stop people from using it. Which means, banning it wont serve any purpose either as people will still be able to be scammed, somewhere. Pointless to ban it at all in my opinion.

shendy

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https://i.imgur.com/BBmstUL.jpg

I think Bitcoin will not be banned in the Philippines. It's very clear Bitcoin is not wrong, it's just that some people are abusing Bitcoin. So for those who do not know Bitcoin in detail will be negative about Bitcoin. May the Philippine Government be firm in this decision and firmly punish the person with severe punishment.

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