Will bitcoin be banned on Philippines? - page 23.

Hypnosis00

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Quote from: ronics on April 16, 2018, 09:07:51 PM

I have been a member of bitcoin for a long time ago. Sometimes I did not hear the ban on the bitcoin in the Philippines because it is acceptable to bitcoin .the central bank of the country returns a standard regulation for bitcoin and the government of the Philippines a cryptocurrency is also acceptable to the philippines. There will be other countries banning bitcoin mostly because they violate the rules of bitcoin and yet another government does not accept a cryptocurrency in the country banned by bitcoin..so now open the the Philippines has a cryptocurrency in our country.

Crypto is not actually that much visible in the Philippines, we have this own crypto but there are still Bitcoin users here. But it will be better if bitcoin is not banned because it is much reliable than the one made here. Bitcoin is bitcoin, and we trust bitcoin more than any cryptocurrency that may exist in the world. So don't ban bitcoin in the Philippines, it can help people to rise from poverty.

FullMooon

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I think it really hard to banned the bitcoin in the Philippines, because first of all the government in the Philippines are much selfish and much in corruption. So that they make bitcoin passed in the Philippines. Also they passed through the bitcoin for the investors because bitcoin is the one of the most fast generating of money.

Hexah

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It's an obvious scam that they have huge ROI in just 15 days I guess it is on the part of the investors itself that they do risks their money to it. I guess it needs thorough consultation before we say "TOTAL BAN" on the use of Bitcoin or other cryptocurrency in the Philippines. The cryptocurrency use in the Philippines is healthy and I guess banning it will get negative effects since it has increased country's economy on the last year Bitcoin trend.

bitcoin31

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I hooe it will not ban bitcoin in the philipoines. Because it's not mistakes of the bitcoin it's mistake of the couple who scammed people. Bitcoin is legit but other people use it to scammed people and that's not good to us because the people are scared to invest to bitcoin because of that happen. Bitcoin gives opportunity to us to earn money . I suggest to those people don't invest to the people try to invest to your own because you know what really happen to your money. I think the couple scammer said to the investor they get high profit with shortime only . There's no easy money as of now they need to spend longtime and effort. Don't trust anyone because we don't know what is the really begind of their mind.

ronics

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I have been a member of bitcoin for a long time ago. Sometimes I did not hear the ban on the bitcoin in the Philippines because it is acceptable to bitcoin .the central bank of the country returns a standard regulation for bitcoin and the government of the Philippines a cryptocurrency is also acceptable to the philippines. There will be other countries banning bitcoin mostly because they violate the rules of bitcoin and yet another government does not accept a cryptocurrency in the country banned by bitcoin..so now open the the Philippines has a cryptocurrency in our country.

crzy

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Quote from: AniviaBtc on April 15, 2018, 11:47:49 PM

I wish it can't happen. If it is, our life become incomplete. All us know that 30% of our income is from Bitcoin. But I've never heard that Bitcoin will be ban in the Philippines, so I hope it will not happen.

Its possible but it will not happen because I know Philippine government will just regulate this thing on time so no more people will be a victim of a investment scheme. Let's support bitcoin because this is a great source of income for those who don't have a regular job.

AniviaBtc

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I wish it can't happen. If it is, our life become incomplete. All us know that 30% of our income is from Bitcoin. But I've never heard that Bitcoin will be ban in the Philippines, so I hope it will not happen.

jakagintiri

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No one forbids crypto in the Philippines, the Philippines also declare not to close the crypto in the country but they will only eradicate scammers and criminals acting on behalf of Bitcoin, it is clear the innocent pure innocent man innocence as a useful object when in use properly but when used by the pure evil people's fault there is nothing wrong with Bitcoin, but is currently doing the eradication of deception rather than closure of Bitcoin.

gogrowglow

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I am a Filipino and right now as of today I have not heared or seen from news that the government wil banned Bitcoin just because of the news last week regarding the couple scammer. As to my understanding they used Bitcoin to convince people to invest (kind of like pyramiding) and because they cannot give back the promised earnings of the money invested on thier scheme many investors go to the police and or to the media. For fair judgement, government should take deeper investigation and must have knowledge about Bitcoin to understand it to render adequete judgement and to correct the notion that Bitcoin is a scam. So far now news regarding this issue - banning of Bitcoin in the Philippines.free

faceoff97

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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. Bitcoin is niw starting to.be recognized by tge government and people should be oriented properly so that no ptoblem would exist. Since government is silent about this issue, there is no news reported about banning of it.

BLAST2MARS

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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?

Obviously, no. I live in the Philippines and Networking is the most common platform for scammers to make a pyramiding scam but my government had never discussed if that type of business should be banned entirely so it's really impossible to happen in btc.

redcucumber

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Philippines is a free country so they will not ban crypto currency there besides its good to invest in Philippines right now because of their growing economy and their vast natural resources, many entrepreneur there are starting small business and banks is also offering financial assistance over the startup years that's why I think crypto currency will not be banned their because its a perfect fit to their country plus Philippines is an archipelago so remittance is a common thing to their people who is working overseas for a living they can experience how great the potential of bitcoin through using its features in their home, business or anything else that filipino's would come up to an idea using crypto or bitcoin.

canque31

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Quote from: EnricoGomez on April 15, 2018, 08:52:55 PM

There is a chance - they will still consider that other major countries banned bitcoin, too.

Probably no. There is a percentage of Filipinos that use bitcoin to both primarily and complementarily earn money. Earning money through it helps reduce rising unemployment rates.

Honestly, bitcoin scams are partly the fault of many investors in the first place.
Yes, bitcoin is a "hype" currently but one needs knowledge to effectively manipulate their own to maximize their profits. Filipinos easily jump on hypes and trending matters without actually acquiring knowledge about it on the first place.

Scammers are everywhere. Tactics and strategies are made by individual to cheat to make themselves cheat. It is not Bitcoin's fault but the fault lies on the scammer. I don't believe that Bitcoin will be banned in the Philippines for that reason. The government is already investigating about that matter. Due process is followed for banning of something in the country and it is unfair if they banned it because of that issue. Better study the background of the management before investing to avoid scam.

EnricoGomez

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There is a chance - they will still consider that other major countries banned bitcoin, too.

Probably no. There is a percentage of Filipinos that use bitcoin to both primarily and complementarily earn money. Earning money through it helps reduce rising unemployment rates.

Honestly, bitcoin scams are partly the fault of many investors in the first place.
Yes, bitcoin is a "hype" currently but one needs knowledge to effectively manipulate their own to maximize their profits. Filipinos easily jump on hypes and trending matters without actually acquiring knowledge about it on the first place.

Vness10

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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 think they will not ban bitcoin because before that scamming news a lot of people got scammed by the hypo site o ponzi site but what happen still Filipino want to invest and still want to earn in crypto. Actually is not fault of bitcoin or crypto the problem is the person who use bitcoin to scam the people. People that always want take advantage the others to scam.

terrific

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

Will bitcoin be banned because of that?

There are many scams that are occurring in other countries and that isn't the main reason for them to ban bitcoin.
Bitcoin is legit so the local currencies are and scammers are taking advantage of people who lack of knowledge about bitcoin.
They use bitcoin to scam people and so with local currencies. There's no need for the government to ban bitcoin because of it.
The government knows the risky on having bitcoin and its not that easy to own it so they are educating that one must research about it.

UltimatePro

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Seems like a baseless question. The story is about a couple scamming others by convincing them to invest. It just happened to be Bitcoin. It was a tactile situation, where victims were face to face with the people who took their money. It wasn't due to a hack or something like that.

You're reaching hard to associate to unrelated things.

Naughty Princess

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Quote from: Jeepney_koh on April 15, 2018, 09:46:20 AM

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?

Those prople who were scammers just used the name of bitcoin because of its ability to double your investment. They have used bitcoin in wrong way. Likewise, its not bitcoins fault, its the investors because they entrusted their money to someone. I believe it will not be banned in Philippines.

They also report that bitcoin is scam without even knowing that scam is the way how they invest. They get scammed because they do not know if it is legit where they put their money for investment. It will not be banned as long as, we, the people use it in better ways and not in any other illegal activities. It really help every individual to have income even staying at home. It will be good help for the economic growth of the country.

Kidmat

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Quote from: White Christmas on April 15, 2018, 06:28:17 PM

Quote from: kimdomingo on April 15, 2018, 08:01:35 AM

I am from Philippines and I don't think bitcoin will be banned here in the country. The said scam was just from misuse of bitcoin and about trust issues. There is no good reason for the government to ban bitcoin in this country. Citizens should have to be careful when trusting their money to other people. I believe that bitcoin will really help the economy of the Philippines by letting unemployed citozens to still have an income enough for their living.

I agree it is the responsibility of the owner of bitcoin. If you have your bitcoin you must be careful where you will going to used it. Yes there are many scammers now in the surroundings but if you know what to do you will not become a bictim. I think government cant banned bitcoin here in our country because it already helps lot of people to become rich.

I don't think government will based on this situation to banned bitcoin in the Philippines. Even others reputable department in the country has already warned netizens that bitcoin is not an hyip investment and people should understand the risks in bitcoin. Because many had proven that bitcoin has its good advantages to the users.

White Christmas

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Quote from: kimdomingo on April 15, 2018, 08:01:35 AM

I am from Philippines and I don't think bitcoin will be banned here in the country. The said scam was just from misuse of bitcoin and about trust issues. There is no good reason for the government to ban bitcoin in this country. Citizens should have to be careful when trusting their money to other people. I believe that bitcoin will really help the economy of the Philippines by letting unemployed citozens to still have an income enough for their living.

I agree it is the responsibility of the owner of bitcoin. If you have your bitcoin you must be careful where you will going to used it. Yes there are many scammers now in the surroundings but if you know what to do you will not become a bictim. I think government cant banned bitcoin here in our country because it already helps lot of people to become rich.

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