Topic: Will bitcoin be banned on Philippines? - page 13. (Read 2078 times)
I heard that our country have plans of charging bitcoin users with tax to so prevent such scams but I believe they didn't include banning bitcoin in the Philippines to their plan.
It's because of the so called company NewG that the name called company i registered as a name of computer shop they used bitcoin as payment gateway for their investments since bitcoin is legalize in the philippines many people wants easy money however they accept the big risk of in 16 days there money will be double either earn upto 50% and every month they will get there payout or profits which is not. Bitcoin will never be banned in philippines because bitcoin is good for the business and bank uproved it.
They have just announced the Philippines will be legalizing bitcoin exchanges in their economic system.
https://www.ccn.com/philippines-legalizes-cryptocurrency-exchanges-in-economic-zone/
https://www.ccn.com/philippines-legalizes-cryptocurrency-exchanges-in-economic-zone/
For me it will not. Because bitcoin did not break any law in the Philippines. Only those people who made promises to its clients. There are so many people out there who fools others just to gain more money.
So be careful to those people wo makes promises for big profits. Don't let your guard down.
So be careful to those people wo makes promises for big profits. Don't let your guard down.
We should be careful of people who spit promises big profits in investing. For events in the Philippines I think do not blame the bitcoin and to ban bitcoin in a country is not easy because the world community has been using bitcoin either to transact, make payments and invest in it.
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?
I believe the Philippine government will not ban Bitcoin because of that incident. There is an on going review to regulate the cryptocurrency in the Philippines. ICO's are planned to be regulated to reduce fraud. And there is a possible tax for crypto transactions. Thus, let us wish that regulating would serve the purpose to protect the government's purpose to protect the investors.
In my own opinion, even with the bad news that tarnish the reputation of bitcoin as a good investment, i believe that the government of the Philippines will not ban it. Bitcoin can really help the Filipinos specially to the unemployed to earn income and alleviate poverty.
That's the thing. It is people that scams and not bitcoin itself. We cannot blame bitcoin if people got scammed, they simply have not enough knowledge about bitcoin and where they invested their money. So, bitcoin has nothing to do with. Next time, they should be more resourceful about where they invest their money.
For me its not,he used the name of bitcoin under his illegal transaction and the law knows it that crypto was not included on that.Hoping for long period of time of stability of digital currency and get punished those persons who use bitcoin in their illegal transactions.
When I here that news in the TV I thought it was just nothing but when I hear the complete details about it, I was shocked because of they scammed so big amount and I think they shouldn't ban bitcoin because they only use the name of bitcoin and I hope it wont affect the governments situation here.
Hoping that it would not happened that bitcoin will be banned in the Philippines because of that triksters people, I hope that they should analyze with themselves that we are working hard for the money to earned and they just want to get in just seconds only, many users would be affected if bitcoin banned in the Phils.
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?
For me NO! Because they just use the name bitcoin to scammed many people, but people who know the truth about true bitcoin will still use and investing in bitcoin. Government cant ban bitcoin because other country still investing on it, and when people still using bitcoin it will not end or die.
I hope his Bitcoin is not banned because of this and Bitcoin will still run smoothly in the Philippines. I hope the Philippine government does not ban Bitcoin in its country and Filipino society is still allowed to use Bitcoin. Bitcoin has a good future and promises. So it's a pity if Bitcoin gets banned.
It depends of our government if they think its illegal then they can ban it. If they want to legalize they will make a way, they will charge tax on it.
50 angry stormed these scammers?
I am surprised they didn't attack them.
Because usually these type of scams the accusers get away long before the victims even realize they have been scammed out of their funds and are never seen again.
I am surprised they didn't attack them.
Because usually these type of scams the accusers get away long before the victims even realize they have been scammed out of their funds and are never seen again.
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 dont think that such a case would let the government decide on banning an industry as big as this. I think that the government would continue on reminding its people that such investment scam exist but not totally ban bitcoin in the Philippines. 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?
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?
In my opinion, No one can tell if bitcoin will be banned on Philippines. Because, if there are people who got scammed because of Bitcoin according to them. For me, it is not the Bitcoin scam the victim but the people who used Bitcoin as their front for them to get the attention of the victim. Meaning, bitcoin is not a company it is a software kind, decentralized type not centralize one. And I think decentralization is one of the reason why BSP approved to get in here into our country.
Im also thinking about this, recently the mainstream media are reporting negative issues about bitcoin. Bitcoin related scams are getting more tangible, and tge government might see it actually as a threat.
Yes, actually I heard also news about scammed online and bitcoin is involve. Its sad that our co members in this community make those unpleasant acts just to earn fast money,they dont even thinks others feeling.This was under investigation and hopefully this well be settled as early as possible and hoping this wont affect the crypto community here in Philippines.I pray also that government wont banned any bitcoin works ,because I know many well be affected and suffer because of the few people that are doing bad things. 
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?
Bitcoin wil never ban in philippines they have a regulation on crypto so i think bitcoinand cryptocurrency will become more good in the future by paying tax in crypto is more good than goverment ban this so i hope in my country crypto will not ban in our country because this crypto have a real future soon. 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?
Though severely damaging to Bitcoin's image, i doubt that it will be banned in the Philippines.
Remember that bitcoin was used as a medium of promised profit by the accused scammers, it was not bitcoin alone that promised the gain.
Looking at the past where gold has been the medium of insane return of investment guarantee, a solid number of cases sprung up decade after decade, but gold was never banned anywhere in the world, so i say, the same will be for bitcoin.
Perhaps, using bitcoin for investment purposes might be banned, but never bitcoin per se.
Let us remember that bitcoin was never a store of value solely, it is also a payment system, acquisition of it will never hurt.
Remember that bitcoin was used as a medium of promised profit by the accused scammers, it was not bitcoin alone that promised the gain.
Looking at the past where gold has been the medium of insane return of investment guarantee, a solid number of cases sprung up decade after decade, but gold was never banned anywhere in the world, so i say, the same will be for bitcoin.
Perhaps, using bitcoin for investment purposes might be banned, but never bitcoin per se.
Let us remember that bitcoin was never a store of value solely, it is also a payment system, acquisition of it will never hurt.
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