Will bitcoin be banned on Philippines? - page 22.

Btcnaivie

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Quote from: alizalela7 on April 11, 2018, 10:24:25 PM

Philippines does not banned bitcoin but they Due to recent developments, the Philippine Central Bank is reviewing the regulatory standards for Bitcoin, which will have specific standards and regulations to make bitcoin stable and safe. Protect the rights of their citizens to participate in bitcoin

Definitely I agree with you! Philippines will not banned bitcoin, Bangko Central of Philippines already review on how bitcoin works in the internet world. Bitcoin is accepted here in the Philippines at the website coins.pH. Some of our store also accepted bitcoin currency. But government didn't encourage to used bitcoin since it still under study.

bering

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Leading Crypto Sports Betting & Casino Platform

most people currently in the particular countries had utilize the popularity of bitcoin with made investment offers based on cryptocurrency technology although most of them are fake but the victim already trust them because they offering daily profit or similar of it and besides on philippines it was happened too in my country that people got scammed by this and i think this is bad for cryptocurrency because the government will have reasons to banned crypto

ratnawide

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philippines never forbid bitcoin, that's all I know, they will only fix the regulation of the use of bitcoin in their country so as not to harm their citizens

felicity06

jr. member

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Globe-dex.com

If it happened in Philippines that will create a problem... Scam is everywhere we cant run for it but we can avoid it if we want... If Philippines banned Bitcoin it will never solve the problem about scam... Because as what i said before it is everywhere the only things we need to do is to be careful always...

the13thsymphony

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I think it is just an isolated case, but still there are people that just plotting new ways to scam other specially that most of the people in 3rd world countries like the Philippines where most of the people are not aware or do not believe what bitcoin is. However this incident may not trigger a ban in the Philippines since it is just one of the many alleged scams in the past. Non the less this just means that people should dig deep on what they where they want to invest specially in the crypto industry where the market is very volatile.

laravuemaster

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When Football meets Crypto

Quote from: EzBreezy on April 11, 2018, 09:39:02 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 think that the government of the philippines does not really care about cryptocurrency but those who are being scammed has their own risk of investing so there's no problem in that situation because every trader in the market has their own risk.

agentx44

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Quote from: EzBreezy on April 11, 2018, 09:39:02 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?

Hopefully no, because there are a lot of people in the Philippines invest in bitcoin and cryptocurrencies and there are now earning a thousands of money that is why a lot of people are now more interested to invest and join bitcoin. I think the government here in the Philippines would like to put tax in bitcoin because they heard that some people are earning money for free. Hoping that it is not true because i will not earn the money as big as today.

Creating N Action

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So many Filipinos are cryptocurrency-assisted and not all people in the Philippines have scams. So, bitcoin can not be ban on the Philippines. I know that they are not only the scammer in the philippines but more and they might catch their wrongdoing. Hopefully, Filipinos don't be scammers, since Filipinos are known as hardworking and good at work. But be especially careful when it comes to transactions.

shadyrifles

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Quote from: EzBreezy on April 11, 2018, 09:39:02 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’s the true Philippines is getting stricter day by day on regulations due to recent scams and hacking.On this week Philippines Security and Exchange Commission (SEC) regulators have already issued a warning to cloud mining participants stating that the regulatory agencies believe these types on contract should define as ‘security’, and the business model should be registered with Security and Exchange Commission (SEC)

ghost07

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Activity: 602

Merit: 255

Quote from: EzBreezy on April 11, 2018, 09:39:02 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?

they only use the name of bitcoin in scamming but government will never do some thing that bitcoin is banned in our country. but for me it will never happen if they dont invest to that newg. me im so curious to that company and some of my friends want to go in this investment team. now they thank me in giving a big reason why we dont need to invest to that company.

TiffanyLien23

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Activity: 350

Merit: 107

Well if that could be happen in the Philippines that would be a great 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. And most of the Filipinos like me still depending on bitcoin as a source of my income.

Rubble898zaitO

newbie

Activity: 210

Merit: 0

I don't think BTC will be banned in the Philippines. Sure, it may have been used to scam some people but it may not lead to BTC being banned. At worst, the government will do all sorts of attempts to regulate it or on the flip side, launch some sort of black propaganda to discourage people from getting into it. For the moment, it's anyone's guess. Personally, I hope it doesn't get banned.

charlemagne_15

member

Activity: 357

Merit: 12

Quote from: EzBreezy on April 11, 2018, 09:39:02 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?

Well, that news was circulated in media for some days and have caused alarm to those who are not familiar in bitcoin. When I first watched it, the news was failed to make me shock due to I know that some users of bitcoin do some bad things like scamming the money that people earned and work so hard. Bacause of this news, I think there is a huge probability that the Philippine government will definitely banned the bitcoin. They will see it as a threat to the Filipinos and even to them. Also, a lot of bad rumors about bitcoin is spreading. It just added to reasons why they should ban it.

labs0918

member

Activity: 205

Merit: 10

Quote from: EzBreezy on April 11, 2018, 09:39:02 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 so because it depends if you invest or not. They are lot of bitcoin mining and there is a safe way too. Not all bitcoin ate scam. So, be knowledgeable in investing. If you wanted to earn even you're not investing in bitcoin, it is possible. Join in bounty campaigns.

DREWSKIE

jr. member

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Merit: 2

This news may have caused alarm to those who are not familiar with Bitcoin and how it works. Technically, the problem does not lie to Bitcoin, but the people who used it as an opportunity to take advantage of the popularity of it. There are lots of scams reported in the Philippines like: Card Skimming and ATM fraud, Bullet in bag, Money Changer Scam.. and a lot more. The point is, banning Bitcoin is not a solution to solve the problem especially if there are people who legitimately earn money from Bitcoin. These scammers find ways to swindle for money and the least we could do is to be more vigilant and educate ourselves before dealing with investments.
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Sled

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Bitcoin- in bullish time

I don't think that they will banned bitcoin from the country of Philippines because the last time that i read and saw some news from articles they stated that bitcoin is being regulated in that country and their authorities are doing a research or study about it and they are still telling people that they should not put a lot of money into it because it is a very risky investment.

Kamote_1102

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I hope not. We should all understand that it's not Bitcoin's fault. It's the people who used Bitcoin to their evil schemes. I know it's lesson learned to all the Filipinos who has been scammed and I hope they can still get the money back. But, instead of Banning the Bitcoin, jail those scammers and teach every Filipinos how they will invest "safely" in Bitcoin.

Kemarit

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Merit: 1353

Quote from: Bellator on April 16, 2018, 10:31:26 PM

Quote from: EzBreezy on April 11, 2018, 09:39:02 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 the government banned bitcoin in our country because bitcoin is not a scam its the people behind all of this.If only the governments and the people already aware of the advantages that bitcoin brought to the lives of our countrymen then most probably they will see that bitcoin could probably change the lifes of every individual for the better.I think the government would go deeper study on putting regulations to scammers and not bitcoin alone.

But the scam that was pulled off really makes headline in the Philippines and the government might have to really take a look at their policy. They have been reminding the population though about making investments but I guess people are so adamant and the minute they see big returns being promised by those scammers, they would easily put all their money on them. Sadly though a lot of investors have lost and I hope that the scammers will suffer long and hard and agonizing pain in the jail for a long time. But I still think the government will still be crypto friendly despite this negative news, one factor I see is that there are a lot of Filipinos working oversees and they can take advantage of crypto currency to send remittances back home using local exchanges like coins.ph.

Bellator

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Quote from: EzBreezy on April 11, 2018, 09:39:02 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 the government banned bitcoin in our country because bitcoin is not a scam its the people behind all of this.If only the governments and the people already aware of the advantages that bitcoin brought to the lives of our countrymen then most probably they will see that bitcoin could probably change the lifes of every individual for the better.I think the government would go deeper study on putting regulations to scammers and not bitcoin alone.

Rufsilf

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Merit: 309

Maybe, if the crypto made here is stronger than bitcoin then they might ban bitcoin because the one they made will become the main currency here. But it is not necessary for bitcoin to be banned because it is the most reliable crypto. Bitcoin should not be banned because it is a life changer, a lot of opportunity is made by bitcoin. And banning it will just destroy those opportunities.

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