Topic: Will bitcoin be banned on Philippines? - page 25. (Read 2078 times)
I dont think it will be ban in the Philippines few number of victims versus thousands of Filipino bitcoin users. Lot of Filipinos are hoping that bitcoin is the key that will help them out from financial difficulties and this is being proven and tested already because we already hear inspiring stories that bitcoin is really a life changer. What had happened is an eye opener of the people not to trust that easy and must study and do th3 research first before putting up investment.
if bitcoin is banned in the Philippines when it happens, people who work and depend on bitcoin are bad because they lose their jobs, because in bitcoin they will only earn a great deal and work well.
Really hard to understand what you mean.Well, on behalf of Filipino citizen so far bitcoin here is now still quiet from our government even there's a news regarding scamming bitcoin from the online business the pyramiding investment. They create pool fund of bitcoin from investors and they did not release to their members a monthly promising amount that maybe they earn. But as of now, those scammers are in jail now.
There's is no reason they ban bitcoin because the one who has a fault is those people who abuse bitcoin, not all bitcoin users that have a good interest to earn.
if bitcoin is banned in the Philippines when it happens, people who work and depend on bitcoin are bad because they lose their jobs, because in bitcoin they will only earn a great deal and work well.
I don't think Philippines will ban bitcoin. It's undeniable that the said issue needs to be addressed with immediately because that is a large sum of money. However, the Central Bank of the Philippines have already posed regulations regarding the use of bitcoin in the country. That happening should teach people engaged in Bitcoin to learn more and obtain knowledge so they won't be scammed. Also, bitcoin here (in the issue) was used as a medium of transaction so the mistake was on the persons involved. The government must apply a stricter policy and the people must be wise enough before doing anythings especially when it includes money. Bitcoin offers huge benefits but it comes with larger responsibility.
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?
There are a lot of people who already been a victim of crytocurrencies because of so many reasons. This is just one example and probably those victims don't thoroughly did a more research about crypto. This incident is about investment but the investors trusted a person without hesitation. There are a lot of ways to grow our profits in crypto but it is sad to know that people wanted some easy money. If they really want to get involved in this business,they need to learn first before getting involved into something especially it involves huge amount of assets.
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?
there is a probability for bitcoin to be banned in the philippines because of the high amount of money that has been scammed but I hope not. this teach us a lesson not to invest easily if the source is unreliable. the bitcoin users in the philippines will decrease as well as investors because of this incident. but the truth it is not bitcoins fault if somebody was scammed the president should consider the advantage of the right usage of bitcoin in the philippines rather than banning it just for those scammers.
Gosh! I hope not. I havent had that much from bitcoin. I hope the scam wont much affect bitcoin here in the Philippines.
They need to ban the peso too then considering it was used in all those Ponzis in the past. Remember that Aman Futures where the scammer just fled to Malaysia and won't be extradited (imprisoned there for a different case, apparently he's related to a politician there and the money scammed from the Philippines could have been used for elections there)? What did you think they used for that scam?
Suddenly banning it would mean they might have to close exchanges, which are legal and might sue considering their businesses would be affected.
Suddenly banning it would mean they might have to close exchanges, which are legal and might sue considering their businesses would be affected.
This is what happens when you don't have enough knowledge about crypto. Honestly, how could those people easily believe that their investments are going to grow every 15 days? Bitcoin price isn't always high and volatility greatly affect how it is going to stand in the market. In 15 days, it is a short period for bitcoin to grow so it really is impossible for them to gain from their investments.
Investments takes long time to profit, this is what I always believe and it helps me to avoid any ads and invites saying that my money could grow in just two weeks. This incident is creating a bad image of bitcoin for those who haven't know it yet and I just hope that the government would be fair to get into conclusion that bitcoin was just used as a tool to lure those people.
Investments takes long time to profit, this is what I always believe and it helps me to avoid any ads and invites saying that my money could grow in just two weeks. This incident is creating a bad image of bitcoin for those who haven't know it yet and I just hope that the government would be fair to get into conclusion that bitcoin was just used as a tool to lure those people.
This has nothing to do with the banning of cryptocurrency because what this couple did it is not a specific behavior for the crypto ecosystem so crypto wo 't be banned in Phli.
Oh! I’ve heard hundreds of stories of investment scam in Philippines using fiat, am I right? Do they banned using Philippines Peso or US dollars for that?
Now one incidence of bitcoin scamming will they banned it? Is it even fair, in my mind it isn’t.
Investment scams like pension plan, networking and government scam, you name it they have it. Isn’t it normal in long run as this victims doesn’t even learned from it.
Bitcoin can be banned if they wanted to, but does the users will not rally against it or even used VPNs to get away with it. Be my guess.
Now one incidence of bitcoin scamming will they banned it? Is it even fair, in my mind it isn’t.
Investment scams like pension plan, networking and government scam, you name it they have it. Isn’t it normal in long run as this victims doesn’t even learned from it.
Bitcoin can be banned if they wanted to, but does the users will not rally against it or even used VPNs to get away with it. Be my guess.
In my opinion that reason is not enough to banned bitcoin because the government of Phillipine very support bitcoin and blockchain technology. Many scammer utilize bitcoin to make people interested to invest that's why we have to be careful and don't only thinking about big profit but we must have knowledge about crypto currency.
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 heared this news before and yes over 900 million worth of bitcoin scammed by the co filipino people who are investing on bitcoin. For this situition this would not be the reason to banned bitcoin on the philippines, because according to the experties on bitcoin, those people scammed because they dive directly on bitcoin and invest a lot of thier money without thinking what is all about and lack of experience on cryptocurrency. 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?
Government officials in the Philippines that it is not the fault of Bitcoin. The Philippine government already acknowledge Bitcoin as a legit currency and I do not think they will change their stand against Bitcoin because of these scumbags.
This should not be asked because what if they scammed FIAT ( Philippine Peso) will you ask if the Philippine peso will be banned because of these scammers. Scammers steal money and Bitcoin is money as simple as that.
Anyway good job for the Philippine police that they caught these kind of people, they should rot in jail.
yes, the Philippine government has legalized bitcoin in the country, in the Philippines rules all bitcoin users will be taxed, but what I do not understand about bitcoin user tax is how the government knows and will do it, blockchain technology can not be tracked without the owner's permission This should not be asked because what if they scammed FIAT ( Philippine Peso) will you ask if the Philippine peso will be banned because of these scammers. Scammers steal money and Bitcoin is money as simple as that.
Anyway good job for the Philippine police that they caught these kind of people, they should rot in jail.
As has happened in other countries, for example Indonesia also prohibits the circulation of bitcoin. Countries like the Philippines are a lot of people who invest in crypto, but the government there must think hard to avoid people deceived by a scam. So I think it's very natural that the government keeps its citizens safe from crypto money scams
Only people who do not understand anything in the economy, politics and cryptocurrency have such a point of view. Because of your ignorance, you take the side of the government. If you think so then why do you need this forum? There are going to supporters of the cryptocurrency. How can we support the restrictions of governments? 
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?
the bitcoin and the blockchain technology is a breakthrough and a good product of technology. those scammers scam in just the name of bitcoin not knowing the true value of it. they have taken advantage the popularity of bitcoin and used it in a manner that it was not to be meant. networking pyramiding and ponzi schemes are already there even before bitcoin. people should not be taking this kind of easy money schemes!
What is going to happen if people scam each other with dollars or any hard currencies which has been happening? Philippines banning bitcoin is not a solutions to crime and criminality as bitcoin is not a root couse.
For someone working closely with the largest exchange in the Philippines, I can say that there are no notes regarding that one yet. Most of the regulations imposed are about KYC and AML which is nothing worse IMO. Also the PH government seems to be open about the said cryptocurrency but has issued warnings about cloud mining schemes and the likes since people are still gullible enough to believe in exorbitant gains in a short span of time. Not even worried about the state of bitcoin in the country TBH. Local banks and the gov't seem to be supportive about it.
This propaganda is a part of conspiracy against bitcoin and cryptocurrencies, why they don't they ban online banking where hundred of accounts are compromised by hackers?
Scams are everywhere and are even more in fiat banking system, why they are just tagging bitcoin with SCAM.
Scams are everywhere and are even more in fiat banking system, why they are just tagging bitcoin with SCAM.
The scam, Obusan said, is structured like a pyramid scheme but with electronic money.
I must say either they don't know about what pyramid scheme really is or they have no knowledge about bitcoin and cryptocurrencies, awareness is needed. 
This is a normal news for emerging things. We all know that in the past year, encrypted currencies have developed rapidly in Southeast Asian countries such as Thailand, Vietnam, Indonesia and Philippines. These countries are open to bitcoin, which has also made many people see the value of bitcoin, of course. There will be some people using bitcoin swindling. For such news, I want to say bitcoin is good, and those who cheat are bad.
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