Bitcoin Forum

A documentary here in the Philippines entitled: FAILON NGAYON have exposed Bitcoin as a type of scam.
It goes like this: a callcenter agent guy invested on one of the sh*tcoins here. He invested a fair amount of money into it as a promise projection of 50% gain for about 3 months. After 3 months have passed and he was about to withdrawn the money, support system from that UK based comoany was suddenly became unresponsive.
Financial analyst said that bitcoin is being used by some scammers to phish for money from users through untrusted sites.
I think that due to anonymity, it is very hard to track down those people who uses bitcoin for scamming.
For me, I think you just invest amount ofnmeny that you can afford to lose. Secondly, just transact with secured sites and not fall for get rich quick schemes because most likely thisnis a scam.
What are your thoughts on this?

I'll say so scammers were everywhere. but he had to understand that bitcoin is the next pyramid. And if not now, he would have lost his money in the future. I hope after that, the Philippines will also go to the ban of bitcoins and it will fall in price and popularity.

Be wise in investing! Soon bitcoin will shutdown because countries will be banning the use of it. Scammers and hackers will make the name of bitcoin go to waste. It is you scammers who put bitcoin down! Get lost! Let us switch back to ETh instead.

My thought is that at the end of your epistle, you made a conclusion by yourself by encouraging not to invest in scam sites, not to invest what you can't afford to lose.

As for bitcoin, you understand that this is the kind of news you will hear while people keep getting rich via same bitcoin.

Hello, I am from Philippines too and not thinking about the same way if you are that vigilant to where you imvest your money, maybe he is careless not to think if that company really pays or not. I don't really like on how they feature it but if they focus on the positive side on bitcoin they would know how it goes and what future lies in through it. So be wise where you put your money.

That Ponzi schemes also happens to a fiat money investments, just because it is new and digital they've announce that bitcoin is a scam without a proper research and understanding how it really works, it is not scam we've done through that on the days were it is still starting, where in the era of bitcoin is a bubble based on some media and banks but it is not true, I'm also upset that they did not say the positive side of the btc. I understand that they did this because they want the people to be aware but they did not elaborated the topic properly that it is the investments scheme is the scam and not the bitcoin itself.

Its not the fault of the bitcoin itself but the investor. He didn't research about the company he joined and just invested there. Its obvious that its a HYIP scheme 50% in 3 months without doing anything. He didn't think of it and just throw the money away. Its his fault. Be wise in where you put your money next time.

My own point of view, you just have to be vigilant enough not to be tricked that way. Someone used it to those not legit site and that is the main reason why he considered himself as being scammed. Bitcoin has great purpose if you do it in a good way though. We must not create a hole where in we can have doubts

If you look in your email spam folder you will also find plenty of phishing attempts that all deal with FIAT. The issue here isn’t Bitcoin per day but rather dishonest people trying to find creative ways of robbing people of their money. Crooks always exist and you have to be diligent when it comes to these scams regardless what payment methods are used. Painting Bitcoin negatively because of it is just inaccurate.

It's like saying us dollar has been exposed because of many scams happening with this currency. The same goes with all the talks about bitcoin being used heavily for illegal activies and should be therefore banned. The biggest crimes so far with all the drugs, mafia and gangs have happened using dollars and no one thinks of it that it's the fault of the currency. Bitcoin offers that kind of anonimity that may be convenient to pay for illegal things, but paper money like dollar bills also would be hard to be traced.

None of this has anything to do with Bitcoin. There are plenty of scammers that have attempted to exploit the hype around Bitcoin to perpetrate their scams, but that is no fault of Bitcoin.

And yes, some hackers/phishers use BTC. And before BTC, they used dollars, flipping stolen credit card numbers and carded gift cards. They still do. And now they use altcoins like Monero, too. So this FUD about association with crime is unfounded, unless we are going to deride all forms of money (including fiat money) for the same reason.

I think what it is trying to say that Bitcoin can also be used in scamming which is true. Despite of having a public ledger, the information of the address holder can be anonymized (fully). If you had watched ANC, regarding the interview of the BSP's head (I think) they tackled Bitcoin and they can easily construct the set of law tp be passed in the Congress since they know what should be implemented.

Continuing with this line of thought, it is trying to imply that Bitcoin can be used to commit crimes such as money laundering and etc but the fact still remains that it some ways it helps other people to earn money conveniently and the opportunity it is trying to give us can help their citizens. It just needs a proper law and department to protect its citizens away from harm.

Didn't understand the whole idea of calling out Bitcoin to be a scam while it was his own mistake that he invested in the wrong project without any prior research about the project itself. In my opinion, Bitcoin has a prototype where the amount of profit you make is directly proportional to the period of time you hold onto it so you could call it a get rich fast' scheme with very less limitations.

First of all that was not bitcoin because as you have said he invested into some type of new token or ICO without knowing what really it is or doing some research about it that's why he got scammed. And second of all the media documenting it, was telling people false information i think they should tell people that investing in some unknown digital currency is quite a risk and also third party sites that lets you earn passive income is nothing but ponzi scheme. If want to invest in crypto currency buy bitcoin directly and hold it.

My thought on this? Is that you should change the title in the thread.
What you are "exposing" here, is just an unfortunate, but quite common scam, that is used both in crypto in general, as well as fiat. It's not related to bitcoin in particular. Yes, it was made with bitcoin (actually an ICO, although you said he used BTC to invest in it), but it could have been made with anything else. Bitcoin is not a scam, is not a ponzi, or pyramid scheme.
Regulation is needed, and it will help people to be more confidant when investing in bitcoin, but it will not stop scams. We see people getting scammed in fiat HYIPs everyday. Does that expose fiat? Are people protected by HYIPs? Is it easy to track them? It's not, so scams will continue to exist, and we can't blame bitcoin for it.

I agree with you, bitcoin is nothing to do with it. Investor should know first the person or company he is dealing with, if it is legal or not. If the investment is too good to be true then think wise and be careful. And scamming is not only happening in digital currency but also in fiat or paper money.

You can find people scamming like this even for fiat currencies. And well, for shitcoins you have to be more careful where you are investing because you can   end up losing a lot of money in shitcoins scams. They all seem attractive, but then fail to deliver whatever it is entitled to! But this shouldn't decrease or have any negative effect in BTC, because this kind of poor actions happens everywhere!

It seems to me that OP is a stupid person who summed up his greed. Scammers always use this human weakness. What's bitcoin? This topic should be called "I'm a loser". But it is possible that this error was intentional. This theme was immediately picked up trolls. Maybe it's the strategy of opponents of bitcoin to discredit him.

You invest in a scammy altcoin and say that Bitcoin has been exposed? That is pretty laughable, if you ask me. Next you might say that the internet (or telephone) is a scam, because the scamsters contacted the victim through a phone call / the internet.

Bitcoin has nothing to do with his loss.Its his fault to trust unverified websites and invest in it.Bitcoin is a decentralized currency and no one could control or influence your money invested in bitcoin.It would be better that those people who don't understand bitcoin just stay away from it and stop giving such silly reviews about bitcoin.

Bitcoin acceptance has already gone world wide and it is said that even some of the wall street people don't want to miss the opportunity of earning from bitcoins for just the reason that they work in wall street companies.

So just stop blah blah blah.

In my opinion that was a biased opinion given entitling the said business as a scam. Taking side or noting on the negative points or scenario only. Again, anyone who enter a business or industry should be vigilant , responsible and welcome on any possibilities or risk to face. But it doesnt mean that you dont need expertise or research along the way you really need to in which ever business you want to take. I believe it was on the investor side fault if he doesnt or dont verify the transaction he is entering to.
Fraud exist period. They are living for it. They are earning and rooting for it. Thinking of ways to outsmart people twice fast as you think. One can never deny or eliminate such existence.

Ted Failon of ABS-CBN just showed how corrupt they are , as we now in the philippines the Liberal Party has an alliance with the ABS-CBN network. They don't want a cashless society , they don't want digital currencies because they are corrupt. Liberal Party is alleged corrupts in the government, they can't take the government's money that's why they disaggree with it and exposed those fake transactions.

Do you think that in a cashless society there will exist opportunities for corruption? No, I think that the reason for their reluctance is different. Duterte a dictator and if the politicians in power it means that they support it. Why would the dictator free people? Bitcoin is freedom. So it will never be legalized under any pretext.

As I watched the Failon Ngayon, like what they've said Bitcoin as a type of scam. Abs-Cbn was such a fool ever since out of 100% their News broadcast was a fake. Therefore, Though some of the people in the interview was A victim of a scam site. Known as ponzi schemes. Bitcoin is not a scam but it can be use by the scammed people to look for a victim and to run others money.

I just heard the news in facebook someone posted it from the group, it is so sad to know because as we all know bitcoin is now making its own name in the philippines but because of this it may cause again a fail of trust by the people in the government which is hardly to get as we all.know right? Bitcoin needs government trust so it cab be legal to it, but what happened because of one platform it causes again to failure of trust l.

this has a pretty good point, and besides this is economy and we all know that money is the one revolving this current economy of ours, and bitcoin is also a currency so there is no question about it that there is no freedom from the government i guess.

When I first heard that bitcoin will be featured in that show. I am so elated that finally more people will be aware on the idea of bitcoin. But when I heard that this was the reason, I feel so disappointed.
First of all investing in anything is a gamble and investing is not just on bitcoin. We have to be practical in investing, study everything know what you invest and be familiar with the words of scammers. There are alot of those in bitcoin field or not.
I hope that show does not just hear that side/perception, I wish someone research alot more about bitcoin.

What Bitcoin has to do with the scam happened with the guy? He didn't invest in Bitcoin but in a HYIP site. 100% of High-Yeilding-Investment-Programs are scam because they aren't back with any real business as promised on sites. Bitcoin has nothing to do with it, even if he invested through other mediums he ended up being scammed.
Bitcoin is safe investment and altcoin trading is promising way to increase money. But one has to learn how things work before wagering his money anywhere.

The thoughts are obvious, the more anonymous the coin the harder it is to go after scammers. So just don´t put the money where it seems to too good to be true. I dont like to think "fiat" when dealing with crypto, but here i make an exception. anyone who is promissing 50% out of thin air would be rich enough to not be in this kind of online business. If it is too good to be true, it probably is... Don´t walk away...RUN!

Ive seen that segment on that show and I would say they do only just focusing on the thing that bitcoin is being used on scams which that feels like that they are just derailing the viewers by showing them generally on possible scams to be happen by the use of bitcoin on those scam schemes.That guy is dumb enough to fall on those hyips all over again and again.Ponzi scams are common and bitcoin isn't really need to be blame but on those people who did invest on it.

that documentary has a right but not all of those who involved in bitcoin is a scam.  Maybe that guy who get scam is investing in not classified investment site or legit .  Which is not safe or not trustworthy investment site. I think he invest real quick without knowing about ponzi schemes. Lol this issue always happened when times that we easily fall because the site provide some good testimonials and false video but after that we repent because of real quick decisions. So i suggest to those who have no knowledge about ponzi "check the site first to avoid lose " which is you can put your trust on it By finding good comments or feedback.

Obviously thats not the first case to happen in the world of bitcoin or crypto currency. If you have to be successful in this world then you have to be on your own. You must stand up and do the whole research by yourself and must not invest into the schemes which are hyip schemes and try to fool others.


There are lots of opportunity here if you seek that by all yourself. What I mean with this is, we have free information all over the Internet but some of it scratch, garbage and you must identify it by all yourself if you want to save ourselves from the scammers.

yes its scam in philippines that is true i have many group in some social sites related in bitcoin there's a lot of scammer and bitcoin is a tools to scam other by them i also try to think why this happening but in that social site when you enter they advertise a link first its have profit but aftet a month or a weeks its turn to scam

Even if the countries ban the bitcoins, people will still continue to use the bitcoins due to the anonymity. People should be more careful before investing the money into any online scheme as most of these schemes are for scamming. If someone fall into their trap then it is investor's mistakes who blindly trust the unrealistic and fake schemes.

The title is very misleading and paints btc as a scam, when clearly it is anything but that. Of course it enjoys popularity, unfotunately, for illegal transactions, but that does not take away from it the immense benefits it has, especially as vehicle for investment.

That was a third party and cannot be relied on.
The idiot didnt even think about that.
It is a simple explanation. It is greed.
He wants more than what bitcoin is offering to him and that is what happened.
If you really want to create more money then be sure it is a legitimate one.
Why they all blame it to bitcoin. Retards.

Not new and not a news.
They have always pinned it to bitcoin whenever the was said in a ponzi scam. It is all just shit.
People without someone to blame to will put it to something that had bad records and it so disappointing. I dont know if theg are paid or not but it is fake.

The fault was always to be blamed on the one who is scammed. Why invest without knowing the full knowledge of it? Getting too excited for the promised return instead of verifying the claims. Read a lot to avoid scam as simple as that.

The only thing to expose about Bitcoin is how it is still used for illegal activity, although the drugs/weapons part of it has since switched over to Monero.

Those medias aren't even thinking that fiat money can also be used for scamming people and mostly it is the money that they are using. And they only monitored that guy invested into a HYIP, they never get some intro about trading, mining and about accepting bitcoin for buying and selling products? No doubt that media is kind of a bias one, did they manage to interview a bitcoin fanboy/enthusiast/user or it's just an experiment?

Well you can't blame bitcoin for peoples stupidity to invest money into ponzi, at least your post sounds like that call agent invested money in ponzi.
Not the first one and not the last one, I don't know why people are so ignorant when they see that something is too good to be truth.
Scammers will always find a way to scam, no matter which currency we are talking about.

Care to share the link?

I'm interested to see how good the scammers are in convincing the victim to invest her/him in putting the hard earn money. And it says UK company? How did a UK company involved in the Philippines? There are a lot of scams there, specially in the Philippines, not only bitcoin but Nigerians operating in the country. I guess they didn't check the background and they all believed the words of the scammer, that's why I want to see how good the ass*** that you quickly believed everything the scammer says. My thoughts is that you should not believed and trust anyone specially your hard earn money, and bitcoin is not the only thing that they can take advantage and commit their crimes.

I did not fully understand what the OP is trying to tell but it looks like someone invested money in some phishing site and he lost his money,there are many scams out there to attract new users who are trying to invest in it and if you are not careful then your entire money is gone in thin air.You cannot blame bitcoin for your foolishness. :P

This is absolutely poo. These bits of gossip are made by those haters who are hostile to against bitcoin on the grounds that they are terminating from bitcoin cost and request of bitcoin subsequently they are making bits of gossip that way. Let me know whether you are having 1 bitcoin. The amount it gives you. It is capricious right? Since bitcoin giving a considerable measure individuals opportunity which is very valid.

I guess you have a point there. Nowadays,people are so narrow minded when it comes to earning money. Otherwise, other companies expose bitcoin for the sake of discrimination. Recently, I received a news about bitcoin on TV and it says, bitcoin is a scam. I felt bad about it because bitcoin didn't harm people but because of our government, they're teaching my fellow countrymen to be ignorant. This is the issue
 which the exposure of bitcoin becomes bad to others. If they only knew how promising it is to everybody and in different countries.

Well every giood thing comes with it's own criticisms and that has been the nature of humans from the start and so  for them to bash bitcoin is no news to me because they will keep doing that until they are proven wrong. Negative news most of the time are attempts by the powers that be to get people to dump their bitcoins and to me that hasn't worked to their advantage, at least in the long term.

But right now, the value of bitcoin continues to go up quickly, do you think this is a paradox? I really do not understand why the bitcoin constantly goes up, it makes me worry about its unstable future.

People will try and use bitcoin to scam people as there is no real identity to an address. We hear more and more of scams that involve bitcoin in this way.

You should not say that he is an idiot, we all need to go through the lessons to be able to grow up, this is also a good opportunity for him to have more experience, a post worth learning for him.

Well i guess the one that told it on that documentary show has less knowledge about of bitcoin. He/she might be looking at the front door and not looking what's inside the house. If he/she has a lot of experience in trading or investing he/she couldn't get scammed so easily. There are a lot of scammers everywhere that's why you need to be a wise person. Do all your homework and research if you don't have any clue about of what is it, not just by believing of what the scammers told you. It's better safe than sorry, so does prevention is better than cure.

I think your topic title does not really fit in to your narrative !!
MLM (Multi level Marketing) could be invested on either with fiat currency or cryptocurreny !!
So i think the scenerio is not about bitcoin or "Bitcoin; Exposed" 

Just like a typical fiat currency, shady and corrupt government politicians use it to carry out various financial crimes,looting their country reserve and wiring it to switz banks !!  Many scenarios out there !!

But as you and I know,just because of Bitcoin groundbreaking success and rising value,so many scams,malware,ill-thought government regulations are now the order of the day !!

Cheers !

That particular person chose to earn money in a quick way, if the offer is too good to be true we know that its not legitimate. Its impossible to get back your money to those scammers and thats the consequences of your action. I think this is the philippines first documented story of bitcoin in national tv, the sad part is it was introduced as being used to scam people and it can discourage those who are planning to enter in cryptocurrency. It would be better if they give a glimpse of advantages in using bitcoin to attract people.

bitcoin is not a scam, but many scammers,ponzi schemes, fraudelent guy, and con artist are using bitcoin as a form of exchange for their crime. Long before bitcoin was used my criminals,hackers and drug traders but this is not supposed to be. evil guy makes any way to make money no matter what, it is just that the bitcoin was made and they have find a ways on how to exploit it. But the creator of this bitcoin would not encourage us to make illegal activities, just like any other form of payments like dollars or gold it is still used for scamming.

Maybe it's true, But the currency used long ago has also been used for criminal transactions several times but why not blame while the new bitcoin used for several years should not be prohibited basically not all use bitcoin to commit crimes, there are still many that use. . for the right business and not the criminal way. that's my opinion

FAILON Ngayon is a shit show, let's be honest here my fellow Filipinos. " FAILON NGAYON have exposed Bitcoin as a type of scam." Bitcoin as a type of SCAM, The title says it all, this show is a shit show.
Anyway, going back to the topic. The Investor is certainly too dumb to invest and to use an UN TRUSTED SITE. Before you Invest make sure that you will exert effort to research about this coins because a lot of ICOs are shit coins and just using ICOs to get money and then dump them later.

As a filipino who lives in the Philippines and a filipino who is at least somehow educated how bitcoin and crypto currency works. Bitcoin itself is not a scam and we all know that. Scammers use Bitcoin as a form of payment and attraction to use for their scam. This is not only common in the Phillipines but all over the world. I was not able to watch the Failon ngayon since it is a shit show but still this gives a bad repultation to people who have watched the said docmentary. I know people who are not yet convinced with bitcoin and crytprocurrency and with this type of show who does not research enough how bitcoin and crytpo currency work will make more people in the Philippines avoid Bitcoin.

I'll say that before bitcoin there is so much scam in our surroundings, from network marketing, phishing, website hacking etc. And this are cause by people who intently do it, and not by the investment itself. And for that investor who find himself scammed, I worry that many people become like him because of lack of knowledge about how to know if an investment is a scam or not. I hope that the government take action about this and make programs that could help lessen this kind of doing.

I want to say that Op should be careful when putting money or coins out either on the internet or physically because scamming is everywhere . While you trying to be legit in whatever you are doing, other people strive to take it away by illegal means. It do happen to people when you are gullible. Good luck next time.

If you have a proper knowledge about the bitcoin related investment platform. you will be never get scammed by the people if you do more careful in your investments.
Documentary about bitcoin investment option is not a good choice to spread the bitcoin.

Too many ponzi schemes stand on behalf of bitcoin, and that person is one of the victims.

If you come to an investment site with a promise to give you a fixed profit every day / month, then go away or you will lose your money.
Usually these sites promise to make a profit in percentages, like 30% per day, or 25% per day depending on your investment.

But anonymous can't always be free from investigation, many criminals have been caught after their bitcoin wallet address is investigated.
Maybe you wanna know about how FBI do some investigated in Blockchain: https://www.coindesk.com/catch-bitcoin-ransomer-inside-fbis-cyber-investigation-process/

Bitcoin was nothing to do with those scammer, Bitcoin was created for the benefits of the people.

if someone are wanted to invest, special to something like crypto currencies, their primary responsibility was to know or to conduct a thorough investigation to the company, where they going to put their money.

Why would someone invest with specific amount of their wealth without knowing the background of business or technology first.

Not all media/news station are spreading the truth, some are just doing it for money. 

   When I started to read wha creator of this thread wrote one thing fall in my eyes:
  How to understand this? Bitcoin is not a scam, as I see some alt-coin is sh*tcoin here. This is a
story with a wrong title, title misleading. Filipino guy with his own alt-coin is spreading lies about
bitcoin and offer people his alt-coin as alternative.
   Spreading lies and misleading are my thoughts about this documentary. I did not saw anything
truthful in opening comment here, I will not bother to search more about this.

Truth. I don't get it why need to correlate bitcoin with his foolishness. I think the OP is just trying to say that the documentary just wanna state that bitcoin is a scam. Many people in the Philippines, honestly don't know much about the goods that bitcoin can do.

So sad to know this, I hope this will be feedback with good thing, I hope people will gonna make it in philipines. And also I hope this will not make bitcoin expresion last to the people of the philippines.

So one person invested on some shitcoin and got fucked by his own stupidity makes Bitcoin a scam? I know there are some exchanges doing some

Manipulations by listing a coin and creating fake volume, when you buy that coin you'll never see your Bitcoin again, they will never let you to earn

Any profit. you shouldn't even invest on any ICO if there are no announcements from exchanges about listing them after distribution is over mate.

One idiot from Philippine just exposed Bitcoin.

Switch back mate? Bitcoin was here long before Eth.

Lets say you invest a $1000 into some company which offers to double your money in 5 months. The company collects a huge amount of money from many people and then run away 10 days before the 6th month. Will you call USD a scam ?
Lets say you invest $1000 into some shares and the value of shares go down because the company suffers from a loss. Will you call USD a scam ?
These things happen in real life and it does not mean the currency is fraud. It's the people out there who scams others by one means or other.
You can't call Bitcoin fraud because it's the people who are doing it and if there will not be such people in the world then there won't be any scams going on. Neither in Crypto community nor in the real world.

Bitcoin is not a type of scam that documentary only base bitcoin as a scam because of a scam sites. Actually that website is totally scam and they uses bitcoin to scam people. Nowadays HYIP site are spreading on the internet many fake companies and scam people uses this method to get bitcoin easily. That's one lesson to the guy who invest on the site which promises him to get 50% profit after 3months a totally scam. They are wrong to accused bitcoin is a type of scam because it is not. They only uses bitcoin to scam people.

Bitcoin is exposed in a negative way ? Bitcoin can be used by many scammers and that is the saddest part in the whole picture. But I think that they should not expose it that way. Old users know how bitcoin helps them improving life. And before any feedbacks like that they should introduce bitcoin first not direct criticism.

There are millions of people in this world who think Bitcoin is a scam and it is a bubble which is going to pop soon and it is going to take down all of its investors. Some think it is because of the negative use of the currency and others think that the coin has no value as it is virtual. BTC wouldn't have raised so much if it would have been so bad as they call it. These are just the people who don't want the Bitcoin supporters to succeed in the community. Let them say whatever they want and let us stay together and make Bitcoin strong and sustainable.

This kind of propaganda could only be propagated by People/entities/govt who do not have any idea about the bitcoin in first place. First thing a person purchase bitcoin from exchange or other seller. Purchased coins should be stored in valet whose private keys are with you. There is no third party involved here. If you invest in shi**tcoin then it is your fault.
Next point is these kind of so called investments are offered by many companies about the bitcoin as well. The cloud mining is notorious for that. A guy named Amit Bhardwaj has been doing these kind of con work for few years now. Starting iwth cloud mining with 10% per month. This guy has launched a shi*t coin for paying investors. Now same person is running 'bitcoin growth fund'. There are other con-artist or scammers who collected bitcoin from people for lucrative return. Interesting they managed to do it from different coutry that too without visiting that place and via agents.
Thus these kind of documentaries are nonsensical and full of fake information. These kind of tactics were working 10 to 15 years earlier. Those times internet was not so popular as it is today. Today any fake info could go viral initial but it busts that fast as well.

with careful, i think we can prevent the bad things that will come out and we can avoid the bad ways that we want to take. but we know that bitcoin can also to be used for illegal thing, then we need to think how we want to use bitcoin in our daily life. if bitcoin is using for illegal think like scamming investment programs, then its only make bitcoin name become bad and there are no more people which is trust bitcoin and they will stay away from bitcoin and never use it again.

Whatever the above seem to portray , the point remains that scam is domicile in human life even Judas betrayed christ and sold him out.

We just have to be extra careful in our dealings and mindful of the exchanges because some disguise to defraud people.

It's not bitcoin that's the scam, it's those who are trying to steal bitcoin who're the scammers.  This type of stuff happens with every currency, but it happens more with bitcoin because bitcoin is the most versatile platform available on the internet ---> all that documentary proves is that the bitcoin platform is an extremely successful digital payment network.

From what the news have said about bitcoin,  there are some people who really used bitcoin as a scam that's why  you really need to be fully aware in other sites you are going into, so you can't blame that news because the only people we need to blame is the scammers.

Bitcoin was not exposed, scammers were exposed I do not know why people do not buy their own coins instead of letting other people do it for them, they were asking to get scammed by buying bitcoin in that way.

I don't feel it's a legit reason. There's plenty of scams going involving cash or credit card fraud for example.

I don't understand your statement, bitcoin is the next pyramid? what is that? Scammers are everywhere, that is a given that is why we need to think first where to put our money. That call center agent seems to have some faults here not realizing the coin where he put his money at is a scam.

it seems that bitcoin in this year is known to many people, yes even though not everyone on earth knows bitcoin, because if everyone on earth know the advantages of bitcoin transactions then bitcoin price will be very expensive.

     crooks are always looking to scam naive people, when someone calls with something to good to be true , it is. dont be scammed but blame the scammer

Scammers will be everywhere. It is not Bitcoins fault, it will always be under attack from scamming. You have to be smart with your money and maybe consider putting it in an offline wallet to avoid hacking or making bad decisions with your currency.

Bitcoin is now on so much exposure in public. Many of them are still curious about it. For me bitcoin is not a scam its some of the users who use bitcoin in scamming thats why many are not satisfy on the proofs that bitcoin is not scam coz many are still the victim of it while using bitcoin.
We cant stop them and we cannot blame bitcoin because this is not their fault, so the only thing that we should do is make or keep our accounts in private and as much as possible read a lot of details about bitcoin to avoid scam.

the researchers didnt dig deeper about bitcoin and the story is focused on scams and other fraud but i never heard that they say directly that bitcoin is a fraud just putting the name of bitcoin in line with scams and ponzi schemes 

It is your responsibility to stay away from untrusted sites and we should try to avoid this untrusted transactions. But I don’t think that bitcoin is a scam as many people in the world use it and it helps them to be financially stable and live a very good life. I helps people in earning money not  loosing it.

Many people have become millionaire due to it and by looking at all this no one will say that it is a spam instate I this that it is i great invention than has the power to change the world in the currency field and also change the whole currency system in the world. I is profitable to me and many people like me so I trust it.

Failon Ngayon is nothing but a propaganda tool like any mainstream media does. They were paid and manipulated by the sponsors of the show. The host is nothing but a ex-politician that may not be corrupt or might be but not exposed. Then in this move who will benefits from it and those promise that guy are just like most of the pyramid scammers roaming around, bitcoin or fiat it exist.

That's right. In every industry, whether it's a mainstream or an up-coming venture, scammers would always device ways to gain in the expense of people who doesn't know much about its ins and outs. As they say, "when money talks, everyone listens;" having said, it's easy to convince people to do something or invest in something for that matter by blinding them with the earnings they can potentially get. As an investor, it would always be standard to research and not trust any person who tries to get your money for something that is too good to be true. Even in this market, I would agree that the dangers of being scammed is high, ever greater now since the value of bitcoins is getting higher and higher.

FAILON NGAYON is a show where they expose those sorts scams / corruptions / malicious doings. So its just normal that they relate Bitcoin to a scam. Because its their job to make that kind of topic. There are no more technology related shows in the Philippines (i think, like KNOWLEDGE POWER), that is why people are likely to be ignorant when it comes to progress of technology.

It is good that some TV show bring this kind of topic for us to be aware of this scams. I think before we engage to to an investments we should always check their background first.

Failon Ngayon is just as fucked as the news just made by the researcher of the episode. Not even knowing bitcoin and making it as a FUD for themselve. Bitcoiners in the Philippines are a lot wiser than this and not as blunt as this reported. Also OP are speaking about another platform which is not bitcoin. Very misleading topic here that make the thread so confusing. I have saw people posted it on facebook and by reading the comments, people really disagree on the episode Failon aired. Hope that this will be cleared to all my fellow Filipino's about bitcoin specially the newbies here in the forum.

Social media will always keep on exposing negative things. They will only advertise good feedbacks when they will have benefits from it.
News can always be true or false. Yes bitcoin may be prone to scammers but not in all circumstances. They should know why bitcoin is used in the first place. It's purpose is for benefits and only those who greed for money are the cause of scams. Bitcoin is not a scam.

Agreed,They didn't even researched deeper about what is the SCAM on that "EXPOSE" story, they even used a wrong headline, that show is certainly a shit show and there's nothing we can do about that. They are just putting Bitcoin as a SCAM and not the culprit who uses bitcoin as a "payment" for his scam activities. Do not just believe on what you see on TV or mainstream media, try to research to confirm it.

I think he does not know about bitcoin because if he knows about bitcoin he can not be scammed. But it's in that person whether you're cheating or not. Not because the bitcoin is famous so you just have to invest it like that he would have studied it first well if it was legit. So let's get it through to all of us to be especially smart on the websites, we study first If we have no background  we can ask for advice on people with experience especially with bitcoin.

Since it is their job to make that kind of topic, is it not also their job to give people the right information? If they know they cannot get their facts straight, why would they then have to come out and spew garbage? I just pity the people who listen to them, cause they would apparently be so naive enough not to do research by themselves since the so called leading news program could not. That is a kind of show that should be discarded like an ant's fart.

well like what i posted their job is just to expose, but not to clear things up. they left the viewers hanging. and its up to us viewers to find out more somewhere else. lucky for us that we're blessed with open minds that's why we just don't believe to medias so easily. we just have to hold on what we believe what is true.

There are hackers and scams and so on, but you become a victime only in the moment you dont aplly some safety measures, i mean general measures like informing about the person or the product in question, you ask around about it, you analise the situation because, usualy when it is a scam everithing is to beautyfull just to atract you. So yes, there are scams but there are olso safety measures.

There is no reason to deny this fat that bitcoin is a wonderful thing but it is you whose efforts and hard work will decide whether you are going to have a good amount of profit by investing in bitcoin or not. Earning profit by investing in bitcoin will be only possible if you are having a good background knowledge about the things related to that of bitcoin and crypto currencies. Moreover, you have to make the things work for you.

One of the most common forms of malware in 2014 was “ransomware” – cybercriminals trying to extort money from victims either by locking their devices and demanding a fee to release them, or by accusing them of various unpleasant crimes. Holding encrypted files for ransom is not entirely new, but getting the ransom paid has previously proven problematic for the crooks. However recently ransomware makers have started leveraging online and electronic payment systems such as Bitcoins to get around this challenge.

It could be true because not all the people are aware of the bitcoin and the importance of the bitcoin not the bitcoin will get low but all the people are having the benefit of the bitcoin now, I know the unfair mean of the bitcoin is now increasing because all the people are buying the bitcoin and holding for the long time I know the bitcoin price is now high and people are making it more famous.

Yeah for sure all the people are aware of the bitcoin profit and the other income benefits so buy the bitcoin and hold for the long time so buy the bitcoin and buy till the income of the bitcoin and till the end of the year the bitcoin price will be the end of the world and the price will be more than this till now and for the value will have the fun if you will buy the bitcoin you will have the fun.

This is why all should be cautious and wise when it comes to investing. The tv show's purpose is to give people a head start before investing in bitcoins because there are a lot of so-called companies who use bitcoins to trick other people. Those who promised extremely high profits for short period of time are usually scams because real investments last a long time. Before investing into something, research first and be clever. Scammers are easily detected - study their tactics and don't be blinded by big profits just yet. Anyway, I am amazed how Failon Ngayon featured a timely news. I am from the Philippines and it is great that a national tv is starting to publicize bitcoin. Thus, Filipinos will be more informed about bitcoin, its role in the market and how to be involved with it with caution.

Just move on people, there are medias that are bias and there are that aren't.
Even in fiat there are scams and most of the people are still using fiat even us here. But to tell that bitcoin is "scam" it should be reviewed as they are not using the right term for it. Bitcoin has been tool for everything and any transactions can happen with it.

The problem is not bitcoin but the amount of scammers and misinformed people in the world. You can count the documentary's researchers as misinformed or spreading fake news on account of meeting their deadline. They did not research it thoroughly and will expose themselves, along with the show, as untrustworthy.

This is the real fact that bitcoin is going to a better use also but still few people are using it in bad ways and illegal works .
Here I am not supporting that article of that book because I know very well that bitcoin is not scam but the use of the bitcoin for scammare in these days growing .
But still here i am in favour of everything ( except bad use of the bitcoin ) , Because I know very well.that in the incoming future Everything is going to digital and people will not much use cash , so every online transaction will be proof of the money movement that from where it come and where it will go .

I have to agree. Bitcoin is not the main perpetrator here. A lot of scams utilize different kind of monetary mediums - some may use bitcoin, altcoins or even any fiat money or local currency. In this case, a token or different kind of coin was used. Since it is associated with cryptocurrency, bitcoin was simply affected here and because of this bitcoin's name got tainted. It's not new that there are some scams out there but we shouldn't blame bitcoin for those. It's unavoidable in this world, scams can be found anywhere even outside of bitcoin.

I do not understand how that which the so called (whatever the media outfit name is) said has anything to do with bitcoin. Someone invested in an ICO that promised heaven on earth and you got screwed, does that concern bitcoin that has been up and running for over 7 years? NO!

You carelessly made a mistake by not securing your funds or entering your details into a phishing site and you got screwed by a hacker, does that have anything to do with bitcoin? Let's call a spade a spade!

Wow it is good to sell how fast the bitcoin is begin famous even on TV, it is the beset step for the kids to learn about the bitcoin because our kids are our future and it is the best time to tell them about the bitcoins price and the importance by the way I am very happy to see the bitcoin is now getting more and more popular by the show and the telecasts about the bitcoin as you told us.

In fact, any sensible person should even ignore that kind of talk show. I just checked on google and they claim to be a  leading public affairs news show and public service program and they are not even informed ?
That is crap! Most of these media outfits are just too lazy to hit the books and do research and it is very annoying when they come out to spew claptrap like this.

AH! Thats like good comparison between fiat and to let know how bitcoin is worth more than just a scammed scam! I mean people around the world get jealous of many things if they are not achieving any success with something and then they will blame it for sure. In case of bitcoin same thing happens and most of the time people are confused how to earn bitcoin, where to work for it and where to spend it. If this continues then then they will call it scam out of the frustration. So I believe there are lot many more people who don't like bitcoin for persona reasons but make it public.

Well me too, this is the time of scenario where in lack of information towards something and because you want to earn as soon as possible you tried to commit in something insured, they may be accused for stating unlawful toward bitcoin in which we can conclude that lack of information gathered by the source was entirely clear in the scenario and concluding for something unreal like bitcoin is a scam , well theres a lot of hackers here but bitcoin per se is not a scam.

Yes. Just like in real life, even if you hold money and then a thief attacks you.

Will you say the money you are holding is a scam ?
If you invest a certain amount of cash in a company that promises to give you something at the end which is not even related to bitcoin, will you then because of that say the money you invested is the scam ?

We just need to be careful, most especially when it has to do with security of our assets. You cannot be careless and expect a thief not to steal from you.

That's why we should not encourage more people to invest in bitcoins instead we must teach them how the bitcoin works and its potential to be adopt by other countries in the near future. It is their fault if they end up being scammed because they are too eager to earn money, I know some of the people who are just starting with bitcoins are too greedy to earn more money because they can't control their emotions. Those peoples came up with a conclusion that they will surely gain money with bitcoins based on what have they heard to other bitcoin users, I think it is the same thing that has happened to the person in the news.

Happy you said, study first, which is the reasonable thing anyone should do, let alone a media outfit. That must be one hell of a crappy show in my opinion cause I can imagine the number of times they would have misled their viewers.

In fact, read all the things the OP mentioned that they said, it sounded like a kind of talk you would expect from a kindergarten kid. programs like this should be scrapped at end since they could not even get a simple fact straight.

If you are into bitcoins you can never be scammed as long as you won't allow it.And some people are using bitcoin to scam other people.It is not bitcoin that is a scam it is the people behind it and using it to fool people.

Maybe, he did not do any investigation or do some research before the investment was made. Don't let ourselves believe with someone else telling us that we can earn a lot without analyzing the nature of business. Scammers are real, be observant.

Right! The most important thing which plays a very vital role in the world of bitcoin and that too for the one who is planning of investing money in bitcoin is none other than the amount of knowledge which he is having about bitcoin.

You will only be able to earn more money if you’ll be knowing about bitcoin in well manner. Above all, it will also help you from remaining aware of the scammers.

There are number of people who are talking about this thing that bitcoin is being used in different kind of illegal activities and that bitcoin is not doing any good for the society. The fact is bitcoin itself is really a wonderful thing. It all depends on the persons who are having bitcoins in their wallets like how they are actually using their bitcoins. Bitcoin itself has nothing bad in it.

Yes just always transact with secured sites so that you can avoid scam. Scammer now is really wise so you better double your security. At this days we must take care.

You know, I was making some research online today when I came across an article on USATODAY that talked about bitcoin, explaining what it is all about and what’s likely come in future. Bitcoin is starting to gain wide recognition, lots if places both offline and online, but mostly online are accepting Bitcoin. Despite that Amazon is not accepting Bitcoin, we still have Overstock.com which is also one of the biggest online store in the world.

All investor here in the Philippines are waiting on that news and I already watched BUT those site are not trusted and all my group never new about those site scam. So that I recommend that think before you click.

When I saw the Topic – Bitcoin Exposed, I thought there was something serious being discussed on bitcoin, maybe a hidden secret, I never knew it was something that doesn’t really make sense. I don’t see how a guy being scammed his money because of his own mistakes by Investing on the wrong place can be used against Bitcoin and the whole community as a whole to call it scam.

Scam is a normal thing, you can be scammed even with dollars, euros, pounds, gold and silver, they’re all scam, and are no different from being scammed with Bitcoin. Well, if Bitcoin is scam, and I’m making money from it, then there is no problem.

I’m sure people can come up with scams that include Bitcoins or altcoins but that’s not an implication on cryptocurrencies. People can scam you with any kind of money and they do it all the time. If anyone promises a certain gain over a period of time, then they are scamming you. They can’t make those kinds of promises.

The sad thing is that as people use Bitcoin in scams, it can affect Bitcoin’s perception as we have seen when people claim that Bitcoin is used for illegal activities. This can affect Bitcoins price and acceptance in a negative way.

Yes you are right. There would be a big possibility that because of the featured scene on one of the TV programs, people would definitely think that bitcoin is a scam and it could be so hard for them to believe that it is legit because of what they saw and heard on TV. That call center agent who exposed bitcoin as a scam was careless because he didn't check many reviews of that site before investing. He should have be mindful that there are some people scam using bitcoin and not just using bitcoin but scammers can use anything just to scam other people.

People who are not aware of bitcoin or just heard about bitcoin will find it confusing and might think as a scam while seeing these kind of reports published by people who does not have the time to learn and understand what bitcoin is and made a fool out of this entire thing and now he is blaming bitcoin for his foolishness .

Get used to it politicians are very good at twisting the facts they are going to try to scare people away from bitcoin saying that only criminals use it and they are going to try to give tight restrictions to bitcoin because of it.

Yes they didn't have an enough time to study bitcoin that's why sometimes they make a wrong decision that going to invest in the scammer. Study is the best way to do before entering the investment because you are trusting that this investment can be able to give what you are looking for and you didn't feel any regret for the money that you invested because they provide a good security and platform for everyone of the Investors.

Yesterday in India I saw the news arguing about bitcoin in the member of parliament what is the security about the bitcoin users in India, The finance minister replied that in India Bitcoin will remain illegal only and about the security of the users no going to support for illegal thing. So as a new member it make me to think about it.

Bitcoin through the years in this digital age, have been used by these scammers to get money. they ride onto bitcoin's popularity to convince the so called investors to put in shares. Little did these period know that bitcoin is like any other currency that you use for trade. I guess this will serve as a lesson to all to never be gullible especially when in comes to money.

Indeed, Bitcoin is not a scam but the bad people who use the Bitcoin platform to steal from the people is the scam so if fiat currency was also used in some illegal activities so it was the same for Bitcoin as it was a currency too. So anywhere in the world specially if Bitcoin is not legal we should be extra careful when joining an investments that will use Bitcoin platform.