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?
NO, ever since Banco Central of the Philippines doesn't approve of Bitcoin before of some Illegal Scammer victimized to some Filipino people using BITCOIN Name for their Illegal activities. Central Bank did not approved because of a lack of security and no Person would appear to being representative of bitcoin that's why they do not involving for this kind of Digital Currency. however, Bitcoin is total circulated here in the Philippines that use by some other people like us who would be able to used and have knowledge to use this, but Banco Central of the Philippines did not given a totally ban and avoid to use bitcoin unless you will commit crimes through Digital Currency Scam in behalf of Bitcoin. that's is the big problem |
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Why are some governments so keen to prove that bitcoin is dangerous. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin.
Many different businesses affected if Bitcoin totally approve and primary use around the world. First: Banking Industry Second: Remittances Third: Transferring money using cellphone gadget these are the few examples if bitcoin become primary use that's why many country are not approved this kind of Digital Currency |
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How much would you make as first amount? I was thinking £50 bit even if this times by even 10 that's only 500.
Would 300 be a more realistic start
For Investment of money to BTC no amount required any as you want anywhere you belong as long as there is a wallet provider in your area just make a fund in your wallet then you convert to BTC for trading any as you want even a small amount of money. go! but the best is just invest your money to BTC in a big amount so that your capital will become 5 times after several weeks or month. but remember before you go an investment try to look at the Black chain market because the past several month the price value are to much lower. |
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The answer is that it often is not, at least for most people, most of the time. Eventually it will be the best payment system, but it needs to develop further, gain more adoption, and get over the scaling obstacles. Even so, Bitcoin is already the best payment system for certain use-cases, such as sending money across borders, or receiving money from someone you don't trust (which helps further in cross-border transactions).
Yes definitely right, bitcoin is a better payment system it is perfectly fastest and safest more than anything, expected within a minute transaction has been made without no hassle and no doubt secured and covered by master key address. |
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"Japan: No Bitcoin Tax, Thousands of Stores to Accept the Cryptocurrency" article published July, 5, 2017 https://edgylabs.com/2017/07/05/japan-no-bitcoin-tax-stores-accept-cryptocurrency/"AirRegi is a widely used, tablet-based point-of-sale app in Japan. Currently, around 260,000 establishments, stores, and commercial facilities use this proprietary app to accept payments from their clients." It makes sense that a transition to accept bitcoin would be underway for more US-based stores. Retailers accepting BiTCOIN for payment? that's possible because many of them are cashless method especially in that country like japan. I think they made a simple gadget to have a receipt like using some other buses here in the Philippines small gadget to be use for receipt that's the only method if bitcoin would be a primary use to your country but as of now no gadget are created here. But sooner or later it might be possible our good I.T expert will make a significant Bitcoin gadget for retailers. |
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Bitcoin's value is constantly increasing. Why is the price of bitcoin increasing over time?
Bitcoin coin Price increase is because of low supply you can just compare to our daily needs like RICE our daily needs to eat, if the country doesn't have enough supply then they will go importation from other country of course the demand is very high because of low supply that's the main reason why Bitcoin price is going to high price value. |
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I was wondering which one was your favorite out of the two cryptocurrencies? I think Ethereum has proved to be more flexible than Bitcoin even though Bitcoin is making the biggest noise
Deciding which crypto is much preferred will be dependent on your needs. I just wanna clear that they are DIFFERENT in many ways and both excel in their own field so don't look them in the way. Technically, the programming language used by Bitcoin is in a stack based language while Ethereum is turning complete. In terms of block time, Ethereum transaction is confirmed in seconds compared to Bitcoin which takes minutes. Bitcoin is created to serve as an alternative to regular money which can use for payments or transactions while Ethereum is developed as a platform to facilitate and monetize the working of Ethereum for the developers to build and run the so called "distributed applications" (ĐApps). |
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Bitcoin is digital currency or known as the father of all crypto currency that has the potential to become the new money or the electronic money around the world. Bitcoin is also the most expensive digital coin and it is almost compare to the gold but why bitcoin is created? Here are some reason : * To change the perception of all people about the digital currency. * To improve the payments and transactions and in the internet world. * To become the image of money around the world. * To protect or hides the identity of the user, for security purposes. * To give an opportunity to all people around the world to earn a secondary income. * To upgrade the currency because everything in this world is now upgrading. SHARE YOUR THOUGHTS  If this post is worth of your merit, Thank you Bitcoin was created last 2009 because many people are already tired to the present method of payment that's why some other country like CHINA should be used a cashless payment for conveniently action in terms of payment. on the other side who know that this will be made for the purpose of volume of selling of some other gadget, Device, Software, hardware and computer those are the few example why they Build a BITCOIN digital Currency which was until now nobody know whose nakamoto's in real life. |
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This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.
Do you think Governments could kill Bitcoin?
Yes of course, if they want to order the court and making a tight regulation to avoid searching and viewing of the said respective site and whose person violated the said regulation is punishable by low. That's particular order is enough to kill that particular site. |
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I recently paid for some local tacos using Bitcoin. My friend who was unfamilar with Bitcoin thought it was strange, like I technically didn't pay for them or something. We got into discussing Bitcoin and one of the questions he asked me was:
"Why would you want Bitcoins instead of cash?". For a second I didn't know what to say; then I thought about it and here is what I came up with. Feel free to contribute to this.
1) More security (especially if you are careful).
2) Bitcoins are a potential investment, cash is not. Paper currency only really goes down in value, Bitcoins have a lot of potential to be worth more as time goes on.
3) Fast, worldwide transactions at your fingertips.
4) Similar to #3, but it's a universal currency. It's legal in most countries of the world and you don't need any kind of currency conversion to send money to people in a different country than your own.
Bitcoin is much more convenient than cash because you have to worry about the transaction the time you would be able to do some payment only gadget will solve the problem with in a few minutes boom! transaction processed already that's the best important why we are using bitcoin. Quick transaction payment must be processed with in the exact time. that's the big deference between Bitcoin and Cash. I WANT CASHLESS SOCIETY |
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https://www.bloomberg.com/news/videos/b/4a0b16dd-6783-4dac-9fa0-76e923c9a774According to this link, a bloomberg news site, it was mentioned that there are two hotels in LAS Vegas that accepts bitcoin as payment for hotels, food and drinks. If you want to visit this place as a tourist or to gamble and you happened to lost your money to gambling you can always use you stored bitcoins to get a room to sleep and relax and enjoy the food and booze. It is possible because Las Vegas also is one of the large volume of bitcoin users in america so that's nice all accommodation covered by digital processing using cellular phone and computer so that's convenient for the people and I hope that it is applicable for all not only for hotel. |
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So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?
Any kind of problem, any option you want to get any solution you want reach are catered by Bitcoin. SAVINGS, TRADING, INVESTMENT are also available in behalf of bitcoin so what are you waiting for, join now! Bitcoin is great all possible you want to achieved is granted if you trust bitcoin do not regret or discourage like other people experienced to reduced profit because of Bitcoin Price decrease then it will suddenly decide to withdraw their investment which is not good. |
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[ https://medium.com/bitcoins-digital-currency/how-to-explain-bitcoin-to-a-7-year-old-a9a8c094feaf] How to Explain Bitcoin to a 7-Year-OldI’ve been explaining how Bitcoins work since 2010. Here is the simplest analogy I’ve discovered that explains transactions, anonymity, and coin production.
There’s a room that anyone can access. The room has security cameras that anyone can view, and every second of recorded footage is available online forever.
The room is filled with indestructible piggy banks made of transparent plastic. Naturally, these piggy banks have coin slots, and everyone can see which coins are in which piggy bank. These piggy banks can never leave the room.
Each person has a key that can open their piggy bank. Let’s say I want to buy a pair of alpaca socks, and you want to sell them.
First, you tell me which piggy bank is yours. Then, I walk into the room with a ski mask on. Anyone in the world can see me on the security cameras, but not my face.
Next, I unlock my piggy bank, take some coins out, then put them into your locked piggy bank. I leave the room.
Now, everyone in the world knows that your piggy bank has coins that were previously in my piggy bank. This is the case with every transaction, so everyone knows the history of every coin.
“So where do the coins come from? How did it start? Who got the first coins?”
There’s a robot in the room that runs lotteries. Every so often, this robot randomly chooses a piggy bank in the room, and puts 50 coins in it. When it first started, there weren’t many piggy banks in the room since nobody knew about it. Back then, it was easy to win the lottery. Today, there are millions of piggy banks in the room, so your odds aren’t very good.
“Ok, couldn’t someone make their own fake coins?”
No, because everyone has records of every coin in the room, and they know when the robot hands new coins out. If a fraud were to put fake coins into his own piggy bank, everyone would know that those coins were never handed out by the robot, and wouldn’t accept them.
“Who made the robot..?”
Supposedly it was a super genius Japanese man named Satoshi Nakamoto, but nobody knows for certain. Since the security camera footage is available from 2009, we can see that the robot was putting coins into a piggy bank since day 1. We assume it’s Satoshi, but that’s about all we know.
“… Crazy.”
From Tony Diepenbrock IV on medium. Or you can also watch this excellent video:bitcoin 101: https://youtu.be/Bhe61JaNFLU[/quote] It depends upon the ability of the kids, but many of 7 years old kids here in the Philippines are excited to go to school taking up grade 1 bringing a delicious food for vacant time but regarding to learned about bitcoin for their future? nothing! I don't know for other country but here is not yet applicable even in high school student doesn't learned anything. |
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Just by using your phone, you could purchase almost anything. No need to withdraw on an atm. No more heavy coins on your pocket. Paying bills, and purchasing tickets without standing on a line. Very convenient and less time consuming. I know we're already using credit cards right now, but using a single currency like bitcoin world wide could really help on transaction, having less error than the normal and faster transfer and of course the security. Do you guys think this could happen in the future of bitcoin?
Yes that's very good for all of us if ever BITCOIN become primary use in all country, people are very wise there's no need to use in a usual method because we are now in a new generation stop using almost 1 to 2 days processing of all transaction, only bitcoin the solution of slow processing. |
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Bitcoin as a course or any related currency on web.
In my country we have multiple courses in computer especially programing and web developments. My course is also information technology, but i've never heard or learn about online currency as bitcoin. In present, and future studies is there any chances for inserting about it in education. In your country is it available?
It would be better for any country to adopt bitcoin in educating new generations. Instead of playing games and wasting money in surfing xxx sites.
Playing Games and Surfing of xxx site is my fast time actually hehehe but for using of bitcoin is my main work everyday even if i have a regular work from 8:00am to 5:00 pm but bitcoin doesn't bother for me because I am a graphic artist almost all the time I'm in front of computer so I have a lot of time to do so, Actually here in the Philippines no Bitcoin courses offered as of now because Bitcoin is not recognized by our bank of the Philippines. |
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If you had to convert all your wealth to either Bitcoin or gold and keep it there for 10 years, which would you choose? Keep in mind the fact that Bitcoin has only been around for 5 years, and could be fundamentally different in any number of ways in 10 years.
I choose Bitcoin because Gold is almost stable price unlike Bitcoin has really big Changes until 10 Years can we just compare from the start 2009 until 2018 that's the big difference for the longest time to wait, so that's our reference to choose what the best for us also for the future of our family. |
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year is almost changed, what have you got from bitcoin this year (2017), I personally benefited a lot from this crypto currency, I am an unemployed because in my country difficult to get a job, I really helped by the bitcoin, I can give a little money to my parents and it makes me happy to help the family economy , and my hope in the next year I hope to be better in doing all the tasks and hope to be able to work in the real world, what about you? and what motivation mu for the year to come? Last 2017 I know that I am a newbie that time but I also benefited from Bitcoin even just a little profit from BTC investment and other alternative source of income from different token reward from Bitcoin talk forum, so I'll just happy now 2018 even if there is a big changes of Bitcoin Price and any other altcoins but I'm happy because I'm the one also is part of Bitcoin Business and also the one who support of Bitcoin. |
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hello guys , i just want to share what am i doing right now to my children, i have a 10 year old kid , he is david . this coming summer i want to teach him about cryptocurrency. especially bitcoin, from his young age i want to share him my knowledge about this kind of things. im happy that he is excited a little bit however it's so hard to explain but then i use some examples like video games as a reference about bitcoin. probably it might be the easiet way to understand how this things works. for example bitcoin is like a video games, you need to do a lot of research about bitcoin to know it and ask some people what they know about bitcoin or like experiences , like games you need to do a lot of practice to mastered the games , can someone help me about this ?
I think Bitcoin is not fit to the fresh brain of children they really need to focus of learning to study harder let the older or parents serve and support for them in terms of financial because schooling is refer and balance to their age, children's are not interested if they have a back subject because of bitcoin they want to earn instant profit and not to focus in learning. |
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Is it enough to be smart with just nothing to lean on and go on with your life? Because i feel that there are a lot of people who doesn't know how to handle their money with regards to see in the future. Is it enough to be smart and not be strategical or somewhat a person who has a lot of experience. Who would you choose?
For me it is required to be a master of both things like of course you can not have experience if you are not going to try and some people would think it's a waste of their time if they are doing what they know already like repeating their work over and over again. So it should be in a balance.
I think strategic is the best way to do something in life before you go enter in different kinds of significant thing like business, although smart is important to us but it depends upon the situation on where did you use it. |
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Our Government here will always question people who become rich instantly, sometimes they will relate all the wealth to drugs and smuggling so they can send us to jail for a questionable wealth and not paying taxes. they will do background checking, even if they dont find any illegal activities we did they still think that we do illegal. What if I become rich because of BTC do you think they will believe if I say that its bitcoin that making me rich? How will I explained to them?
It's very simple sir, if they captured you without any reason of course that's an illegal right? try to question them what's the reason you are capturing me without any reason, and when we say it's about your wealth why you are in a good living standard now while the history of your life is only wage earner, then you can make a positive explanation like make a Revelation about the new digital crypto currency which is not illegal that;s why you have a good living standard because of Crypro Currency. Then you try to tell then to background check of your history to make sure that you are not involve of illegal activities. |
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