Topic: Will bitcoin be banned on Philippines? - page 26. (Read 2078 times)
WEll i guess its not bitcoins fault why those people got scammed,its between the victim and the suspect they are the one who used bitcoin as medium for their transaction so i dont see any reason why would a government need to ban this community just because its being used for scamming,the victims must file a case to push the suspect and let bitcoin alone lol
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 warnings given were enough, yet people still fall for this scams and silly schemes. Some filipinos greed/lust for instant money is just too much, and is causing too much problems for btc users in the country. The banning might also cause global terror for future investors. Giving btc a bad image. There will be a high chance of banning or they might set higher restrictions againts bitcoin. I hope people will be more aware and educated next time. 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 isn't the entity itself that became the scam. It is in its utilization. How about the online scams in online shopping? Ask yourselves also if our country will also ban those. Few months ago, there was already news about government noting investors to be careful in their investments in here. That implies that they don't put red light on it but they put precautionary measures first. Our government, in my opinion, understands what Bitcoin really is unlike in other countries that simply banned cryptocurrency because it was "purely scam" without even knowing how does it really work as a currency. There is no need to worry about government banning Bitcoin.
It will not be banned and will be accepted by more people in Philippines. This news also shows that more people in Southeast Asia understand and know the value of bitcoin. Every time a new thing appears, there will always be some negative news, which is not surprising.
I hate to read that news that reporters twist the story truely pointing that bitcoin is a scam instead of telling the truth that bitcoin is not a scam but scammer using only bitcoin to scam people’s money supposedly thats how they called it not directly pointing that bitcoin scam thats not the real story there. Instead of bitcoin scam why dont they write the headline as SCAMMER USE BITCOIN TO COLLECT PEOPLE’S MONEY!! media reporters here in Philippines is pure bias and there eye’s always for money what a shame paid media.
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
A news of banning crypto currencies in a country will be given a bad thing in the minds of the investors on that country so it will be very disappointed for the investors but it will not be given or possible very easily hope it will not happen .
The approach of most governments is based on the acceptance of the Bitcoin in general and an attempt to limit its dark use, such as drug and porn trade.
Most governments will regulate the Bitcoin more than the ban.
To take the worst assumptions"Philippines ban bitcoin", this will not affect much(You can trade the bitcoin anywhere and turn it into paper money).
The good news if the Philippines has banned bitcoin is to reduce visits to this site
.
Most governments will regulate the Bitcoin more than the ban.
To take the worst assumptions"Philippines ban bitcoin", this will not affect much(You can trade the bitcoin anywhere and turn it into paper money).
The good news if the Philippines has banned bitcoin is to reduce visits to this site
.
think it's something completely unpredictable. We do not know very well what the next movement of any of the governments will be like, but what we do know is that this could have consequences
I don't know what will happen to me if this will happens here in the philippines, this is my country where i live and i don't want to lose my work because of this unsure news. This is the only work i trusted the most and i work almost 1 year so its hard for me to accept it if this will truly happens and hoping that its not be true.
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
Quote from: Bitzamp
You can check guys above for the complete article.A lot of ponzi schemes and HYIP happened already after cryptocurrency pop up in Philippines. A lot of Filipinos already fooled by scammers. Eventually, the BSP reminded that all crypto related things are risky. The potential to lose is at high percentage. But as far as I can see, the current news will ignite the banning or regulating of the government in cryptocurrency.
But for me, the people who fooled easily by these kind of scam are those who did not make a dip deeper research or study about their investment. Well, we might not blame them for their mistakes rather we should blame those people who made the scam investment.
But I think bitcoin will not ban in Philippines ,because bitcoin was widely used in Philippines.Because many of the people in Philippines are bitcoin Investors.
The government of Philippines had a idea to regulate the bitcoin in their country .Because to get some tax from people by the name of bitcoin.So bitcoin will not be banned in Philippines .The people in Philippines can inverse their money in bitcoin.
The government of Philippines had a idea to regulate the bitcoin in their country .Because to get some tax from people by the name of bitcoin.So bitcoin will not be banned in Philippines .The people in Philippines can inverse their money in bitcoin.
In the past days ago a huge news regarding to BTC have been report in our country, when the couple scams peolpes money approximately 900 million pesos, this make our country to fear btc as investing sites, but there are no rules from our government about banning bitcoin in Philippines.
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?
Philippines are now starting adopting in bitcoin as a payment system just like some other countries. And Bitcoin will not be banned in the Philippines even the negative news coming from social media about many Filipinos are get scammed. Those Filipino people are lack of knowledge about in bitcoin and they always need an easy money and being feed to the wrong information coming from the scammers. That's the reason why they are get scammed.
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
Bitcoin is not banned in the Phippines, although bitcoin was categorized in different countries. Bitcoin in the Philippines is very known and many Filipinos are bitcoiner they did also their job as well to stay bitcoin in the country for long or might forever. To those people who use bitcoin to scam is not following the rules and regulations. It means they didn't stand still for the conditions.
I think on that news is about fraud by scam peoples using bitcoin hype. Bitcoin is not scam, but many people using bitcoin hype to scam people who dont understand about bitcoin and usually that people not understand about investment instrument.
Up to now no news if bitcoin will be banned in the philippines, and new if it will be under new regulations. Thought those scammer must be punished. Sadly The scammer took advantage of those who have knowledge in bitcoin.
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I don't think so. Bitcoin will not be banned in the Philippines just because of the incident of the bitcoin investment scam.
The police knows that its not the fault of the bitcoin itself but the scammers. Bitcoin has only used to scam noob people and we can't do anything about it. Its very sad that there are many people who have scammed in this investment scheme but at the same time, its very annoying that its very obvious that it is a scam and yet they are investing their hard-worked money into it.
This tends to happen if we don't do some deep research in the company. We are just joining base on the comments of various people on the social media and we are not doing a research into it.
The police knows that its not the fault of the bitcoin itself but the scammers. Bitcoin has only used to scam noob people and we can't do anything about it. Its very sad that there are many people who have scammed in this investment scheme but at the same time, its very annoying that its very obvious that it is a scam and yet they are investing their hard-worked money into it.
This tends to happen if we don't do some deep research in the company. We are just joining base on the comments of various people on the social media and we are not doing a research into it.
I hope no country will ban bitcoin, if it happens then it will affect the bitcoin price at the moment .. hopefully the problem in the Philippines is quickly resolved... 
I think that bitcoin will not be banned, as it is very difficult to control on the territory of the state.
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