I'm intending to convert some of my Bitcoin sa ating Philippine Peso and usually ang ginagawa ko lang madalas is through Coins.ph App to my Bank Account and ang current limit ko lang is ₱400,000 dahil na rin na kailangan pang i-convert ang BTC to PHP at hindi sapat ito. Pwede ko rin naman mag-request ng custom level pero pangit rin ang rates ng Coins.ph kaya naghahanap ako ng ibang way para mag-liquidate ng Bitcoin. Other options I see is localbitcoins pero wala pa akong masyadong experience dito involving large quantities of Bitcoin (sharing your experience would be greatly appreciated).

Thread Rule: please post accordingly by your own personal experience

[What happened:]

What happened: So this newbie account is promoting a new crypto exchange offering up discounted prices of several cryptocurrencies below the market price. It first popped out in our local board and as of the moment this newbie is posting it in other boards as well. Aside from the obvious scam prices they also have inserted fake reviews from their website using stock images of their supposed to be customers for their service.

Scammers Profile Link: Komlyanss
Reference Link:
Website [Archived]
Pilipinas Local Board [Archived]
German Local Board [Archived]
Altcoin Discussions [Archived]

FLAG LINK :
https://bitcointalk.org/index.php?action=trust;flag=2045

Additional Notes:

Fake Customer Reviews

This website is using fake customer reviews using stock images found in the web.

[Why Will SB 1083 Be a Concern to Custodial Wallet Hodlers?]

Naging matunong sa balita maging sa social media ang Senate Bill na ito dahil na din na maaaring ma-apakan yung basic rights natin sa 1987 Constitution under Section 4 about freedom of speech at sa right ng mga tao mag-protesta sa sariling gobyerno na nung June 5 kahit hindi pa napapasa yung Senate Bill 1083 ay may mga nakulong ng estudyante galing UP sa Cebu. With both legislative departments (Senate and Congress) approving the bill ang kulang nalang ang pirma ng ating presidente para maging batas ito kaya dapat maging ma-ingat na tayo lalong lalo na pag-dating sa ating mga assets dahil literally kahit sinong normal na mamayanan ng Pilipinas ay maging "person of interest" ng gobyerno.

When I say anyone can be a person of interest aka a suspect sa pagiging terrorista sinasabi ko na lahat tayo ay pwedeng maging under surveillance as well na din ma-violate ang ating right of privacy from communications. Siguro pag tumingin kayo sa Facebook ngayon maaaring nakita niyo na may mga kaibigan kayong nag-rereport na may mga fake accounts na nakapangalan sakanila? Hindi natin alam kung sino ang may gawa nito pero ang mga fake accounts can be used for impersonation and spread misinformation under your identity at dahil na din naka-pangalan sayo iyon, litrato mo iyon, at kaibigan din ng fake account na iyon yung kaibigan mo sa Facebook account mo pwede ka ng maging "person of interest" or suspect sa mata ng otoridad. 

Why Will SB 1083 Be a Concern to Custodial Wallet Hodlers?

Sec. 36. Authority to Freeze.

Upon the issuance by the court of a preliminary order of proscription or in case of designation under Section 25 of this Act, the AMLC, either upon its own initiative or request of the ATC, is hereby authorized to issue an ex parte order to freeze without delay: (a) any property or funds that are in any way related to financing of terrorism as defined and penalized under Republic Act No. 10168, or any violation of Sections 4, 5, 6, 7, 8, 9, 10, 11 or 12 of this Act; (b) property or funds of any person or persons in relation to whom there is probable cause to behave that such person or persons are committing or attempting or conspiring to commit, or participating in or facilitating the financing of the aforementioned sections of this Act.

The ATC (Anti-terrorism Council) may designate an individual, groups of persons, organization, or association, whether domestic or foreign, upon a finding of probable cause that the individual, groups of persons, organization, or association commit, or attempt to commit, or conspire in the commission of the acts defined and penalized under Sections 4, 5, 6, 7. 8, 9, 10, 11 and 12 of this Act.

The assets of the designated individual, groups of persons, organization or association above-mentioned shall be subject to the authority of the Anti-Money Laundering Council (AMLC) to freeze pursuant to Section 11 of Republic Act No. 10168.

Ang Bill na ito pag naging batas magkakaroon ng kapangyarihan ang gobyerno natin na i-withhold ang ating mga ari-arian, pera, lupa, or stock in short lahat ng assets natin basta maging suspect tayo sa mga mata nila. This includes not only bank accounts under your name pati narin ang pera mo digitally from GCash, PayMaya, at kasama narin ang Coins.PH wallet ninyo which is a custodial wallet dahil hindi niyo naman hawak private keys niyo dito. Ang gobyerno under AMLC ay may kapangyarihan utusan ang bangko ninyo, stock broker ninyo, ang kumpanya ng Globe, Smart, at Coins.ph na i-freeze ang mga account ninyo upon suspicion of being a terrorist. You as a suspect ay wala kang kapangyarihan na makuha ito not until you clear your name in front of the court.

How Will a Non-custodial Wallets or Hardware Wallets Help?

Ang non-custodial wallet being decentralized in nature gaya ng Electrum or hardware wallets like Ledger Nano S or Trezor Model T will basically make AMLC powerless pag dating sa pag-control ng cryptocurrency mo. Why? It's decentralized not only na ikaw lang ang may hawak nito ikaw lang din ang nakaka-alam ng private keys at recovery phrase mo meaning kahit kunin pa nila yung laptop mo or hardware wallet mo maaari mo pa din ma-access ang cryptocurrencies mo with the use of your recovery phrases. At least pag maging suspect ka man (knock on wood) at ma-freeze lahat ng assets mo meron kang cryptocurrencies na makakatulong sa iyo to fund yourself with a better lawyer or for your family to be able to afford bail. Generally para na din sa other assets mo like cash hindi na ito yung tamang panahon para ilagay mo lahat ng pera mo sa isang lugar kung saan may kapangyarihan ang AMLC to freeze it, even though I'm against the idea of keeping some extra cash lying inside my house I think this should be a wise option now.

[1. 52.8 Million (77%) Adult Filipinos are Still Unbanked]

Na-intriga ako nung nakita ko yung thread na ginawa ni crzy dito sa local board about kung pwede na daw ba maging cashless society ang Pilipinas dahil na din marami na ang "online sellers and buyers" sa Pilipinas. Bakit ako na-intriga? Kasi alam ko na yung sagot dito na hindi pa ready ang bansa natin i-give up ang cash transactions in favor of electronic ones kahit na may pandemic tayong kinakaharap being a cashless society isn't really a solution here either. Originally dapat gagawing kong post lang ito sa thread ni crzy but nakita ko masyado akong madaming puntos na gagawin at mahaba ito para maging isang post lang kaya ginawaan ko ito ng sariling thread.


1. 52.8 Million (77%) Adult Filipinos are Still Unbanked

As of the latest Financial Inclusion Survey na ginawang ng Bangko Sentral ng Pilipinas nuong 2017, 77% o 52.8 million na Filipino adults ay wala pa ding bank accounts. How can we be a cashless society if karamihan pa sa populasyon natin ay walang formal bank account? The success of being a cashless society ay talagang naka-depende ba talaga kung handa na ang sarili nating populasyon na maging digital yung mga payments natin, kung karamihan pa sa populasyon natin ang unbanked o yung mga taong wala man lang bank account will you say we are ready for a cashless system? I personally don't think so the learning curve for people who are unaware of digital payments will be very steep for them, hindi ako nandito para laitin sila pero hindi naman nila kasalanan kung bakit hindi pa sila ready sa ganitong sistema lalong lalo na kung biglaan at hindi necessary yung pag-babago

How about the Rural Areas of the Philippines?

Ang mga Filipino na nakatira sa mga rural regions ng Pilipinas na may bank account lang ay 5.1% ng populasyon.  Kung ang pinag-uusapan natin rural areas ng bansa ito ay ang tinitirahan ng mga Filipino na ang trabaho ay magsasaka, mangingisda, o magbubukid? Kung limang porsyento lang ng Filipino sa Rural regions ng Pilipinas ay may bank account how do you expect them to transition on a cashless society? Nakasama na ako sa madaming outreach programs sa mga rural areas ng Luzon if i-abot mo sakanila yung mga laptop, camera, o cellphone mo most of them will be clueless kung paano ito mapagana kahit sa teenager mo pa ito i-abot ay clueless pa din sila kung paano gamitin, yung mga cellphone nila ay hindi yung mga colored display pero similar sa Nokia 3210 na basic lang ang cellphone, if magiging cashless society tayo sila ang pinaka-mahihirapan mag-adjust.


2. "Cash is Still King" According to BSP Based on the Payment Methods Preferred by Filipinos

Cash is still king as 64% of Filipino adults whodid not use their accounts for payments cited that they still prefer cash in paying while 20% said that they are not aware that they could pay electronically using their account.

With the results of the research BSP was able to show kung bakit ang Philippine Peso pa din ang ginagamit ng mga Pinoy sa kanilang mga bayarin.

• Purchases of Goods - 78% of Filipinos opt out in paying cash on the purchases of goods. 62% paid cash directly to merchants (Over-the-counter Payments) while 16% payed via Cash-on-delivery (COD)
• Payments for Utility Bills - 69% of Filipinos still pays cash for their Utility Bills (Water, Electricity, Rentals). 57% paid cash directly to the utility companies while 12% paid cash using Bayad Centers
• Payment of Loans - 79% of Filipinos paid in cash for their loan payments.

With the majority of the population still paying in cash dito niyo makikita na hindi pa ready ang Pilipinas sa suddent adoption ng mga cashless methods. Ang mahalagang i-note dito is 20% lang ng populasyon ang hindi nakaka-alam/aware na may mga alternative payments aside from OTC payments at COD but sa majority ng populasyon ay talagang preferred nila ang pag-bayad gamit ang pera. Even if may convenient way of paying sa bills, goods, at services makikita mo na ang mga Filipino ay talagang gustong gamitin ang pera nila sa pag-bayad, dahil nasa majority pa din ng Filipino ang nag-babayad sa cash sa tingin ko it is safe to say that we aren't ready to adopt cashless payments as the preferred choice sa Pilipinas.

cryzy pointed out na dumadami na ng mga "online sellers at buyer" natin dito sa Pilipinas well this data just show that even if sumisikat na ang online selling sa Pilipinas ang mga buyer pa din ay cash ang preferred nilang mode of payment. I personally prefer cash payments via COD kung ako ay may bibilihin sa Shopee or Lazada because based on my personal experience lahat ng online shops na may "pay first before deliver" na rule ay most likely scam or may defect yung item nila. Yung pinaka recent na experience ko dito is nung bumili ako ng disposable mask worth 1200₱ at napilitan ako magbayad through Dragonpay (BTC payment) after two days behind ng expected delivery ay dun na dumami nag-sabi na scammer yung seller at hindi dumating yung delivery nila buti nalang nakuha ko pa ulit yung bayad ko dahil yung bayad ay hawak pa rin ng E-commerce website na pinagbilihan ko.


3. Roughly a Third of the Population are Aware of What (Particular) E-Payments (PayMaya, GCash, Coins.ph) Are

Only a third of the population ay may alam kung ano talaga ang e-payments and ang nakakabahala sa numero na ito is yung mga na-una na E-payment services which is PayMaya at GCash, yung dalawang ito ay galing sa ating mga telco providers ang PayMaya ay galing sa Smart Communications at ang GCash ay galing sa Globe Telecommunication. Sa tingin ko yung numero ng E-payment awareness sa Pilipinas ay mas mababa pa kung hindi lang linakasan ng Globe at Smart yung marketing and promotion nila for GCash at PayMaya, repectively. Dahil kung hindi sa marketing at advertising nila sa E-payments nila makikita mo naman yung kompetisyon nila na kung saan nasa 2 to 6% lang ang aware sa E-payment service nila.

Keep in mind na yung numero na ito is E-payment "Awareness" lang hindi ito nag-rereflect sa tunay na dami ng users ng isang E-payment service sa Pilipinas, pero it safe to say na yung numero ng user is mas mababa kumpara sa aware ng serbisyo nila. Ano masasabi nito kung ready na ba talaga tayo sa cashless society? If kakaunti lang ang tao na aware sa e-payment services it only means na hindi pa tayo handa na maging cashless society, tandaan sa number 2 makikita niyo na cash payments pa din ang preferred ng mga Filipino this also excludes credit/debit card payments as well na kaunti lang din na gumagamit na Filipino sa kanilang mga payment transactions.


Not until we see a considerable improvement sa mga numero na ito I don't expect na merong need i-push ng gobyerno na maging cashless society tayo. Bukod sa ang cash ang pinapaboran sa bansa kasalukukuyan hindi rin tayo technologically inclined lalong lalo na sa mga rural areas ng bansa kaya mahihirapan tayo mag-adjust. Sa ngayon wala na tayong magagawa as an individual hindi natin sila pwedeng i-push sa isang payment method na kahit sila mismo ay ayaw gamitin, this kind of adoption will be heavily dependent towards the modernization of our country. If kaya ng sumabay ng mga Filipino sa ibang lugar in terms of being technologically literate sa tingin ko ito yung tamang panahon na handa na tayo maging cashless society.

[1. Bitcoin Mining's Total Hash Rate Dropped by 25.76% (-32.378 TH/s) 2 Weeks after Halving]

Itong post na ito will serve as a follow up sa orihinal kong post kung ano nangyari sa network ng Bitcoin after 1 day (24 hours) nung halving event nya. Sa totoo lang hindi na ako dapat gagawa nito pero nag-tuon ng pansin sakin yung reply ni ralle14 sa post ko na bumababa na nga nga yung average network fees ng transaction sa Bitcoin as well as yung pagbaba ng network difficulty nito na sa totoo lang hindi ko napansin gawa na din na wala pa akong Bitcoin transaction recently. Kaya binisita ko ulit yung mga recent changed after 2 weeks (15 days to exact) after natapos ang halving ni Bitcoin para malaman natin kung may mga nag-improve ba from miner's revenue, total hash rate hanggang sa daily volume ng Bitcoin transactions para malaman natin kung bakit bumaba yung network fees.


1. Bitcoin Mining's Total Hash Rate Dropped by 25.76% (-32.378 TH/s) 2 Weeks after Halving

Bitcoin Mining Total Hash Rate Key Statistics

Code:

May 11 - 125.69 TH/s
May 12 - 116.884 TH/s
May 17 - 81.659 TH/s (Lowest after Bitcoin Halving)
May 18 - 102.474 TH/s (Highest after Bitcoin Halving)
May 26 - 93.312 TH/s (Present Total Hash rate)

The chart speaks for itself, makikita naman natin na after ng dalawang linggo patuloy pa din ang pagbaba ng mining hash rate natin para sa network ng Bitcoin. Aside sa news na ang Sichuan province ng China ,na naglalaman ng 10% total hash rate ng Bitcoin, ay inutasan ng gobyerno nila na i-shutdown yung operations ng Bitcoin mining sa region nila wala ka ng makikitang news na masasabi mong anong dahilan bakita bumaba ng ganito yung hash rate ng Bitcoin mining. Siguro tuloy pa din ang pag-shutdown ng mga maliliit na operasyon o di kaya mga Mining Pools ay gumagawa ng selective temporary shutdown para ipa-baba yung mining difficulty ng Bitcoin either way makikita naman natinsa sideways movement ng chart na hindi tuloy tuloy o diretso ang pag-baba ng total hash rate ng mining sa Bitcoin.


2. Bitcoin's Network Difficulty Dropped by 6%

Bitcoin's Network Difficulty (in trillions) Key Statistics

Code:

March 27 - 13.913 (Lowest Network Difficulty in 2020)
May 11 - 16.105
May 20 - 15.214 
May 26 - 15.138

As expected bumaba yung network difficult sa pag-mine ng Bitcoin as a result na din sa pag-baba ng total hash rate ng Bitcoin mining. Yung pagbaba ng network difficulty nagsimula 9 days after halving (May 20) and even though naging taas baba yung total hash rate ng Bitcoin even after May 20 patuloy pa din ang pag-baba nya so I would expect na hindi pa ito yung masasabi natin final adjustment ng network difficulty considering na din na almost 26% ang nawalang total hash rate natin, ang 6% drop wouldn't be enough to compensate the lost in hash rate. Also ito na din ang pinakamababa na network difficulty ng Bitcoin since March 27 (13.913) na nuong panahon na yun 97.885 TH/s ang total hash rate ng Bitcoin Mining so ma-aaring bumaba pa din yung network diffculty ng Bitcoin sa mga susunod na araw.

3. Miners' Revenue Remained Sideways after Halving

Estimated Revenue (in millions of USD) assuming the Miner's Sell their BTC at current market value

Code:

May 11 - 17.168$
May 12 - 8.951$
May 17 - 7.112$
May 19 - 9.801$ (Highest after Bitcoin has halved)
May 26 - 7.688$

Kahit na continue pa din ang pagbaba at pagiging volatile ng total hashrate natin tuloy pa din o masasabi kong stable pa din yung revenue na pumapasok para sa mga Bitcoin miners natin. I would expect this to change sa mga susunod na linggo kapag nakapag-adjust na ang network difficulty natin ng tuluyan, of course hindi na natin makikita na aabot sya nung katulad ng May 11 since nanga-halati nga yung block rewards pero sa tingin ko yung average dapat ay nasa sub-8 or sub-9 level dahil ang average na revenue nila before halving was around 17 million dollars but since we all know na patuloy pa din ang pag-taas ng total hash rate natin baka sandali lang ay umabot na ito ng nasa 10 million dollars or above.

4. Confirmed Transaction Per Day & Average Cost Per Transaction

Blockchain's Confirmed Transactions per Day (in thousands) Key Statistics

Code:

May 11 - 305.839
May 12 - 345.215 (Highest after Bitcoin has halved)
May 20 - 280.037 (Day when Bitcoin had the highest average network fees)
May 24 - 214.53 (Lowest after Bitcoin has halved)
May 26 - 295.782

Average Cost per Transaction Key Statistics

Code:

May 11 - 2.547$/transaction
May 12 - 2.789$/transaction
May 20 - 6.633$/transaction (Highest after Bitcoin has halved)
May 26 - 2.402$/transaction (Lowest after Bitcoin has halved)

Kung titignan niyo yung chart mukhang wala namang rason kung bakit bumaba yung network fees at lalo kang magiging clueless kung bakit during May 26 kahit tumaas yung transaction nuong araw na yun pero bumaba yung network fees dagdag mo pa yung pag-baba ng total hash rate natin sa mining. Well ang totoong dahilan kung bakit bumababa na yung fees natin ay dahil lumuluwag na yung volume ng transactions sa network ng Bitcoin as well na din yung average size ng mga transactions nito bukod dun kumokonti na din yung mga taong willing mag-bayad ng mas mataas na transaction fee para ma-prioritize yung transaction nila. Kung titignan niyo yung chart sa baba makikita niyo na patuloy na ang pag-baba ng network activity natin in terms of transactions per day. Pag patuloy pa din ang pagbaba ng network activity natin at tumaas ulit yung mining power ng Bitcoin expect niyo na na maging normal na ulit yung network fees natin sa mga Bitcoin Transactions natin.

[1. Bitcoin Mining's Total Hash Rate Dropped to 116.884 (TH/s)]

So mukhang hindi naging matunog sa forum natin yung Bitcoin Halving na nangyari last two days ago at natural lang yun dahil wala namang considerable price action na naganap hindi katulad ng mga nag-hype na mga crypto news media at influencers na nag-sasabi na baka magkaroon ng FOMO event dahil na din sa halving na ito and as it turns out parang it is just another day for Bitcoin. Gayunpaman kahit hindi naging exciting o eventful yung price movement ng Bitcoin may mga importanteng stats tayo dapat makita para talaga makita natin yung full effect ng Bitcoin Halving sa buong Bitcoin network. Here are some stats na naka-apekto sa Bitcoin Network in just a span of 24 hours (May 11 - 12). Pa-alala lang na yung pag-babago ng mga stats na ito in the last 24 hours might not be the same kung titignan natin yung long term effect ng pangatlong halving ng Bitcoin.

1. Bitcoin Mining's Total Hash Rate Dropped to 116.884 (TH/s)

Bitcoin Mining Total Hash Rate from May 11 to May 12

Code:

May 11 - 125.69 TH/s
May 12 - 116.884 TH/s
Difference: -8.806 (-7.01%)

Isa sa mga obvious na nangyari is yung pagbaba ng Hash Rate ng Bitcoin mining sa network gawa na din ng ilan na mga miners na nag-shutdown ng kanilang mga operations kasi hindi nila kayang sikmurain yung 12.5 BTC/block na bumaba sa 6.25 BTC/block as of May 11. Dito natin makikita na may mga miners na hindi na kayang mag-operate na kikita sila sa ganitong reward kaya nag-discontinue sila ng kanilang mga operation. Most likely yung mga miners na nag-shutdown ng kanilang operasyon is kakainin sila ng mga malalaking Mining Pools so maybe yung drop of total hash rate na ito ay on a temporary basis lang, let us expect din na may mga more powerful and efficient mining rigs na dadating so pwede natin makita na tumaas ulit yung total hash rate.

Bitcoin Mining's Total Hash Rate in the last 3 years

Also wag kayo mag-alala sa temporary drop na ito kasi if titignan natin yung total hash rate ng Bitcoin Mining during the last 3 years makikita naman natin na pataas pa din sya at considerable yung jump ng increase nya from May 12, 2019 (52.64 TH/s) to May 12, 2020 (116.884 TH/s) which is more than double the amount (222% increase in total hash rate) kumpara nung 2019 as of last year. Palagay ko nga kaya ito nag-increase ng mabilis in the span of 3 years ay dahil pinag-hahandaan na din ng mga mining pool yung halving for 2020 which is really a big possibility dahil na din considerable yung pag-baba ng block rewards.


2. Bitcoin Network Fees Soared even before the Halving Happened

Key prices during the last 30 days

Code:

May 8  - 3.175$/transaction (Highest during the last 30 days)
May 10 - 1.92$/transaction (A day before halving)
May 11 - 2.547$/transaction
May 12 - 2.789$/transaction

Siguro napansin naman natin na tumataas yung transaction cost/network fees ng Bitcoin lately? Wag na kayo magulat kasi kahit before nangyari pa yung halving tumaas na talaga yung network fees ng Bitcoin gawa na din siguro sa temporary na pag-shutdown ng ilang mga miners as well as yung pag-dami mga users na willing magbayad ng mas mahal na network fees para mas mabilis nilang mapadala yung bayad nila.

Bitcoin's Average Transaction Fees in the last 3 years

So how does it compare in BTC's last 3 years? Considering na nang-galing ang Bitcoin sa 54.638$/transaction na average during December 2017 sa tingin ko naman ang 2.789$/transaction natin ngayon ay pwede pa din masabi na mura. Para dun sa mga newbie na nagtataka bakit umabot ng almost 55$/transaction nuong 2017 it was caused by the 2017 bull run kasama na yung massive FOMO during that time, madaming newcomers na bumili nuong nag-hit si BTC sa All time high niya which is almost 20,000$. Paano bumaba yung network fees? Hindi ito dahil kumonti yung transaction sa Bitcoin network pero dahil na din malaki ang tinulong ng Segregated Witness (SegWit) at Lightning Network sa pag-scale ng Bitcoin transactions, isipin niyo nalang na hindi masyadong naging congested yung network nung tumolong yung dalawang ito. Overall yung increase ng network fees natin hindi dapat pangambahan dahil na din na tumaas lang naman yung demand ng mga tao na willing magbayad ng mas mataas na transaction baka na rin cause ng halving kaya ganito.

3. Miners' Revenue Drops by almost 50%

Estimated Revenue (in millions of USD) assuming the Miner's Sell their BTC at current market value

Code:

May 11 - 17.168$
May 12 - 8.951$
Difference: 8.217$ (-47.86%)

At dahil nga bumaba yung block rewards ng mga miner natin makikita natin na bababa na din yung revenue nila. Pa-alala lang na assumption lang ito ng magiging revenue nila pag binenta nila kaagad yung na-mine nilang Bitcoin hindi ito yung tunay nilang earnings nung araw na ito. I do think na merong mga miners na nag-hohodl din ng kanilang mga excess na BTC para na din ma-maximize nila yung earnings nila pag-tumaas ang Bitcoin. Also assuming na nag-hohodl nga sila, I have a strong feeling na ang mga miners natin ay hindi na din sasama sa mga panic selling o selling pressure na mangyayari, which means that we only have our whales and institutional investors triggering the market pressures sa kanilang mga trade.


Aside from the considerable drop in revenue ng mga miners natin masasabi ko na yung network ni Bitcoin is normal pa din at wala namang major na epekto ito sa transactions natin with Bitcoin. I would also like to point out na kahit bumaba yung total hash rate natin Bitcoin's mining difficulty remained unchanged which also means that yung drop ng total hash rate natin is not that significant para mag-adjust yung difficulty nya. Gayunpaman this are just the stats during the last 24 hours after nag halve yung block rewards, still pwede pang mag-iba yung mga value na ito in one to two weeks time. If mag-continue bumaba yung total hash rate baka lalong sumunod na bababa ang mining difficulty to compensate the lost in hash rate.

[Background]

Background

Maybe some of you have heard the name Joseph Calata (guy in the picture above) especially sa mga members dito na nag-iivest din sa Philippine Stock Market. Joseph Calata is or was the CEO of the now delisted Calata Corporation (agribusiness company) who attempted to get back in the game sa pamamaraan ng pagbenta ng "stock like" cryptocurrency aka Security Tokens. Itong kaso na ito ay ang pinaka unang kaso sa Pilipinas na involved ang unauthorized ICO offering sa bansa. What interest me in this case is it is similar to cases found in the United States na kung saan ay strikto pag-dating sa mga ICO offerings done locally involving Security Tokens, for your comparison ito yung pinaka recent na kaso ng US-SEC against Telegram which has also classified their token (GRAMs) as a security and not as a utility na unang classification nila. Hopefully na yung post na ito ay makakatulong sa pag-intindi ninyo kung ano nga ba talaga ang security tokens at bakit may mga SEC departments ay strikto sa kanilang mga offering.

Beginning

click the image for the news report

Lahat ito nagsimula nung December 11, 2017 na delist (natanggal) sa Philippine Stock Market ang Calata Corporation (CAL) ni Joseph Calata, the involuntary delisting is due to the 29 violations na ginawa nya as the CEO and Chairman ng kumpanya. Kasama na dito kung paano niya minislead yung investors niya about them expanding in the gaming sector (casinos) sa upcoming Mactan Airport project noon, yung company disclosure na yun immediately boosted the speculative value of CAL from 2.97 ₱/share umakyat ng 4.28₱/share which is around 60% gain, the catch is yung disclosure na ito ay walang bahid ng katotohanan Joseph Calata released a disclosure based on a rumor na sya din ang gumawa. During this na-diskubre din ng SEC na habang tumataas yung stock Joseph Calata was actively trading his own shares of the company dahil na din sa price action na na-idulot ng false company disclosure nya in simple terms Calata committed insider trading using the fake information he have.

SEC with the involuntary delisting set in place also ordered Calata to buy back the shares of their disgruntled investors. However Calata directly said na yung retained earnings ng kumpanya ay hindi sapat para ibigay yung minimum na 1 Billion PHP na buy back offer para sa mga investors and up to this date Calata have rejected all orders from the SEC about the buy back offer for all investors, however this lead to the alternative of Calata offering a cryptocurrencies to its investors as replacement for their delisted stock shares.

Alternative Solution: Calata Plans to Convert All Outstanding Shares into Cryptocurrencies

click the image for the Youtube video

3 months before being officially delisted Joseph Calata announced that Calata Corporations is going global dahil sa kanilang CalCoins offering citing in the announcement the current prices of Bitcoin and Ethereum going up in astronomical figures, sinusubukan niyang ipahiwatig na baka lumundag din presyon ng magiging ICO niya. Pag-tinignan mo yung 20:45 minute mark ng Youtube video makikita ninyo na sinabi ni Calata na "holding a token is equivalent of ownership of stocks" (take note ninyo it) dun palang mali na sya. This was a press conference designed to give solution para sa mga shareholders na magkakaroon ng worthless stock in just 3 months, Yung gusto lang ni Calata is mapapayag nya lahat ng investors to say yes para ma-distribute na nya yung CalCoins. Fortunately sa mga investors this plan died down dahil na din sa lack of interest ng mga shareholders sa proposal nya at sa paghintay nalang ng buy back/tender offer sakanila kaya hindi natuloy itong CalCoins na ito. Up to this day wala pa ding nagagawa si Joseph Calata para sa mga shares ng investors hindi nakapag-liquidate.

KROPS ICO and Sudden Appearance of Black Cell Technology Inc.

January 2018 about a month after CAL being delisted in the PSE bigla nalang nakatanggap ng mga reports ang SEC na si Joseph Calata ay may ino-offer na naman na bagong cryptocurrency named KROPS (KRO) gamit ang kumpanya na Black Cell Technology Inc., Upon further investigation of SEC napatunayan nilang may nangyari ngang unauthorized selling ng KROPS ICO dito sa Pilipinas. Pero bakit nga ba may Black Cell Technology na kumpanya dito at bakit sila yung nagbenta ng ICO ni Joseph Calata? Both Calata and Black Cell Technology ay nagbenta ng walang mga kailangan na lisensya o authorization sa gobyerno sa kanilang selling regardless if Utility o Security man ito.

Black Cell Technology Inc. : A Hong Kong Incorporated Company based in Bulacan, Philippines???

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Base sa company profile na makikita sa whitepaper ng KROPS ang owner ng Black Cell Technology is none other than Joseph Calata. Honestly bukod sa Black Cell Technology meron ding mga tinayong Hong Kong incorporated companies si Calata namely Black Sands Capital at Black Cell Technology Ltd but since they all have similar boards at ang tanging si Black Cell Technology Inc. lang ang nagbenta ng ICO sa Pilipinas kaya for the sake of brevity tatawagin ko nalang silang lahat ng Black Cell Technology . Black Cell Technology according sa SEC cease and desist report nila ha no operations in Hong Kong but was just incorporated there, yung whole operations pa din nila is based sa Manila.

Proving my point is the fact na yung principal office address ng Black Cell Technology instead of a Hong Kong address ang linista nilang address is galing sa Pilipinas specfically sa Pulilan, Bulacan. Bukod dun lahat ng incorporators ng kumpanya ay walang nang-galing sa Hong Kong lahat ay nakatira sa Pilipinas. These incorporators namely Joseph Calata, Maricar Malaki, Halmond Ong, Jose Fabella, Solilapsi are also members of the board ng Calata Corporationm in short Black Cell Technology is Calata Corporation disguised as a Hong Kong based company. Kaya siguro nag-under the radar itong kumpanya na ito sa kanilang unang attempt sa pag-offer ng cryptocurrency sa Pilipinas kasi it was done locally at hindi internationally.


How did the SEC Identify KROPs Coin as Securities? - Howey Test

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Bukod sa pag-papatunay na nag bypass nga ang KROPs at si Joseph Calata ng mga certain regulatory requirements para sa pag-conduct ng ICO dito from KYC, no license, at no authorization ang ICO ni Calata ay maitututing na Security Token base sa Securities Regulation Code (SRC) Section 3.1. Base sa depinisyon ng isang security makikita mo na ang KROPS ay isang "investment contract" na in-offer ng isang commercial company through electronic means. In simple terms pag ang isang kumpanya ay nag-offer ng isang cryptocurrency it will most likely be classified as a security token.

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SEC to further prove the point that KROPS coins are securities ay gumamit sila ng test na ginagawa galing sa United States for identifying securities and investment contracts namely the Howey Test. I will only comment on 1 and 4 since ito yung heavily disputed ng dalawang partido namely Black Cell Technology and Enforcement and Investor Protection Department (SEC). Since 2 and 3 are accepted by Joseph Calata right away SEC only needs to prove the other two para ma-kumpleto yung Howey Test security classification para sa KROPS coin.

[1] Calata argued that "KROPS" ay pangalan lang ng mobile app nila at hindi ito kumpanya they also argued that KROPS cannot be considered as "Investment of Money" since ginagamit lang daw yung cryptocurrency nila as "medium of exchange". Dito nagkamali ng argumento si Calata kasi mabilis na kinontradict ng sariling Whitepaper ng KROPS yung statement niya. SEC specifically quoted their whitepaper stating that KROPS is not a mobile app pero isang "start-up company" pangalawa SEC also quoted that KROPS is on "ICO phase" quickly disproving the statement na ang token nila is a type of medium of exchange since wala pa naman makikita sa merkado na gumagamit ng KROPS as a payment method.

[4] Calata argued that yung pagtaas ng presyo ng cryptocurrency nila shouldn't be counted on their side stating na ang merkado daw ay volatile at yung nagdidikta ng presyo is yung demand sa market. Another invalid argument made by Calata, SEC responded by telling that since Black Cell Technology (juridical entity) is handling the efforts at yung expected profit ng kumpanya ay ipapamahagi sa KROPS holders ay nag-papakita na nakadepende nga yung value ng KROPS sa effot ng ibang tao/entity, SEC also emphasizes that there is also a profit distribution dun sa magiging earnings ng kumpanya.

Ending

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Nanalo yung EIPD (SEC) sa kaso na ito dahil na satisfy nila yung four elements ng Howey Tests it resulted in a ban of the ICO being conducted in the country sa ngayon yung presyo ng KROPS ay 0$ at hindi na din active ang cryptocurrency na ito sa kahit anong crypto exchange. It had further damage the reputation of Joseph Calata again sa mga mata ng SEC at PSE for attempting to evade the ban na nakalagay sakanya sa stock market, it wasn't really a brilliant move kung iisipin kasi dalawang beses na syang nakapag-loko ng investors once sa stock company niya and dito naman sa KROPS at yung masakit dun ang pinaka-malalang penalty lang sa mga white-collar criminals na katulad niya is either ban, fines, o penalty lang walang pag-kakakulong. It was a good thing that the SEC acted out quickly na wala pang isang buwan na ban na yung ICO ng KROPS dito kasi kung hindi baka dumami pa ang maka-bili sa shitcoin niya.

Sa tingin ko mag-kakaroon tayo ng similar approach katulad ng ginawa ng US SEC which has two classifications of ICO offerings one is yung Utility Token and yung tinatawag na Security Token which is similar to being a stock of a company. Pwede tayo mag-expect na additional regulation dito dahil may iba't-ibang uri na tayo ng ICO offerings

Kung natatandaan niyo naka-gawa ako ng post related sa ma-aaring maging batas natin sa cryptocurrency dito sa Pilipinas at buti nakita ko yung kaso na ito dahil dun sa previous post ko nag-speculate ako kung ano yung magiging classifications natin para sa cryptocurrency. Sa kaso na ito na confirm natin na recognized nga ng SEC ang Security Tokens at Utility Tokens. So dapat mag-expect na tayo sa mga upcoming ICOs done locally kung may proper licenses and documents sila on locally offering their ICO.

[Senate Bill No. 1041]

Ang Senate Bill No. 1041 (18th Congress) ay Inintroduce ni Senador Imee Marcos nuong September 11, 2019, ito ang kinikilalang pangalawang batas na pinakita sa Senado na patungkol sa "Virtual Cryptocurrencies" ng isang Senador, yung una is yung SB 1694 (17th Congress) na ginawa ni Senador Leila Delima nuong February 14, 2018 patungkol naman sa pagiging "Aggravating Circumstance" o ang pagtataas ng criminal punishment sa kung sino man gumamit ng cryptocurrency sa mga krimen. Ang malaking pag-kakaiba ng SB 1041 sa SB 1694 ay hindi lang ito tungkol sa punishment kung hindi paano ang magiging estado ng cryptocurrency sa bansa natin, maaring ito na ang magiging unang klase natin na crypto law about how cryptocurrencies can be used in the country. Dito ipapakita ko yung mga nakita kong mahalagang impormasyon sa Senate Bill na ito para makita natin kung ano nga ba ang magiging itsura ng batas natin patungkol sa cryptocurrency, susubukan ko din simplehan ang mga depinisyon at i-explain ang mga ito ng ma-ige.

Senate Bill No. 1041

Long Title:

Code:

AN ACT RECOGNIZING DIGITAL ASSETS, REQUIRING THE REGISTRATION OF DIGITAL ASSET ENTERPRISES, THEIR OPERATORS, AND FOR OTHER PURPOSES

Short Title:

Code:

DIGITAL ASSET ACT OF 2019

Definition of a Virtual Currency in the Philippines

(b) "Digital asset" means "e-money" and "virtual assets"
(c) "E-money" means a digital representations of fiat currency whose issue is backed by
an equivalent fiat currency. It is an electronic store of monetary value on a technical
device that may be widely used for making payments to entities other than the e-money issuer. The device acts as a prepaid bearer instrument which does not necessarily involve bank accounts in transactions.
(f) "virtual asset" means virtual currency and virtual token.
(k) "virtual currency" means an electronic data unit created on an electronic system or network for the purpose of being used as a medium of exchange for the acquisition of goods, services or any other rights, or the exchange between virtual assets, and shall include any other electronic data units.
(I) "virtual token" means an electronic data unit created on an electronic system or network for the purpose of: (i) specifying the right of a person to participate in an investment in any project or business; (ii) specifying the right of a person to acquire specific goods, specific service, or any specific other right under an agreement between the issuer and the holder, and shall include any other electronic data units of right.

Sa mga depinisyon sa isang batas ito na siguro yung masasabi kong isa sa mga maseselan na gawin ng isang mang-babatas dahil ang simpleng depinisyon ng isang bagay ay ma-aaring panghawakan o magalaw ang iba pang mga batas patungkol dito. Parehong Virtual Currency at Virtual Token (Coin and Token) ay makikilang asset sa Pilipinas na pwedeng gamitin as a medium of exchange. Sa depinisyon palang ng pagiging "asset" ng cryptocurrency alam na natin kung saang tax sya papasok and for investments most likely ay capital gains tax ang under dito pero kung isa kang business na tatanggap ng cryptocurrency as payment both capital gains tax at income tax ang magiging obligasyon mo. Sa aking opinyon lang tama na i-lable ng Pilipinas ang mga cryptocurrency as asset bukod sa hindi pagbabago or papakielaman yung lumang batas natin about the Philippine Peso being the only legal tender in the Philippines makakasunod din tayo sa ginagawa ng ibang bansa, recently ang Japan iniba nila yung term na "virtual currency" sa simpleng tawag na "Crypto Asset" dahil baka daw ma-mislead yung publiko nila na ang mga cryptocurrency ay may parehas na value at gamit sa bansa nila.

Departments Involved in Regulating Cryptocurrencies and Related Businesses

Section 4. BSP as Lead Agency for E-Money. - The BSP shall be in charge of the exercise of powers under this Act over the operation of E-money and shall have the power to issue notifications and perform duties in accordance with this Act.

Section 5. SEC as Lead Agency fo r Virtual Assets. - The SEC shall be in charge of the exercise of powers under this Act over the offering and issuance of virtual assets, and the operation of virtual asset businesses. The SEC shall have the power to issue notifications and perform duties in accordance with this Act.

In terms of what departments are involved with cryptocurrencies masasabi nating wala pa ding nag-bago sakanila. Ang BSP (Bangko Sentral ng Pilipinas) pa rin ang mag-reregulate ng "e-money" meaning bukod sa mga cryptocurrency transactions sila din ang humahawak sa iba pang online/mobile payment sa Pilipinas gaya ng Gcash, PayMaya, at GrabPay. Habang ang SEC (Securities and Echange Commission) pa rin ang hahawak sa mga virtual exchange (crypto exchange) sa Pilipinas at sa mga Issuance ng ICOs dito dahil sila din naman may hawak sa Stock Market natin sa tingin ko sila ang tamang department para humawak dito dahil na rin "asset" na maituturing ang cryptocurrency sa bansa.

ICO Offerings in the Philippines

Section 9. Offering and Issuance o f Virtual Assets. - For the purpose of supervision and monitoring of the issuance and offering of virtual tokens and the undertaking of virtual asset businesses, the SEC shall have the duty and power to establish the policies relating to the promotion and development as well as supervision and monitoring of virtual assets and virtual asset business operators as prescribed under this Act.

Gaya ng sinabi ko ang department ng SEC natin ang hahawak sa mga cryptocurrency offerings aka ICOs dito sa bansa, mahahalintulad din natin ito kung ano ang ginagawa ng ibang bansa na kung saan ang mga ICO projects ay dumadaan din sa proseso ng kanya kanyang SEC department bago ito ma-offer sa kanilang mga citizen. Bukod sa stock market sila din ang nag-reregulate sa other invesment vehicles dito sa Pilipinas gawa ng mutual funds at UITFs kaya sila talaga ang tamang maging head department dito.

Section 12. License to Offer Virtual Tokens. - Only the SEC shall issue a license to offer newly issued virtual tokens to the public. Any natural or juridical person may obtain a license to offer virtual tokens by filing a registration statement and a draft prospectus to the SEC.

The offeror of virtual tokens shall prepare and submit the following information to the
SEC:
(a) reports concerning the results of business operation and the financial conditions;
(b) any information which may affect the rights and interests of virtual token holders or the decision making on investment or the change in the price or value of virtual token.

The SEC shall have the power to specify in a notification the categories of virtual tokens or the characteristics of the offering of virtual tokens which shall be exempt from the requirement to submit a filing of the registration statement for an offering of virtual tokens and the draft prospectus under this Section.

Aside from ICO projects needing to obtain a license bago sila makapag-offer ng kanilang ICO yung pinaka crucial talaga na impormasyon dito is yung hinighlight ko. What the law is basically telling us is that we will also have classifications of ICO offerings sadly walang binigay yung Senate Bill na ito kung any yung mga classifications na iyon malamang ang SEC ang magbibigay ng classification dito. Sa tingin ko mag-kakaroon tayo ng similar approach katulad ng ginawa ng US SEC which has two classifications of ICO offerings one is yung Utility Token and yung tinatawag na Security Token which is similar to being a stock of a company. Pwede tayo mag-expect na additional regulation dito dahil may iba't-ibang uri na tayo ng ICO offerings

Virtual Exchanges, KYC, and their Clients' Protection

Section 13. License to Operate Virtual Asset Business. - Only the SEC shall issue a license to operate a virtual business. The application for the license and the issuance of the license shall be in accordance with the rules, procedures and conditions as specified by the SEC and is subject to payment of the application and license fees.

In operating virtual asset business, a business operator shall comply with the rules, procedures and conditions as specified by the SEC, taking into account the following matters:
(a) sufficient financial resources for the conduct of and risks associated with its operations;
(b) safety of its clients' assets;
(c) security measures against electronic crime, which are capable of protecting the computer system and computer data as well as the management of risks associated with crime or other causes;
(d) appropriate accounting systems for the business and auditing by the auditor approved by the SEC;
(e) know-your-client measures, client due diligence process and measures against financial assistance to terrorists or money laundering.

Sa ngayon dahil wala pa tayong batas na para sa virtual exchanges masasabi ko yung na-itutupad palang dito in advance is yung KYC ng mga user. Habang wala tayong batas na makakapag-enforce ng proteksyon ng mga user masasabi ko na hindi tayo magiging protektado sa kapabayaan nila o di kaya may maduming balak sila. Ngayon if may hack na nangyari or data breach ang makukuha nilang penalty is yung mga nakasaad lang sa mga batas natin ngayon, pwede nilang sabihin na na-bankrupt sila dahil sa recent hack and wala na tayong pera na makukuha pagka-ganun yun ginawa nila. Kung may batas tayo ngayon na mag-proprotekta sa ganitong bagay siguradong safe ang capital natin dahil hindi mag-papabaya ang mga Virtual Exchanges when it comes to their platform's security.

Section 17. Protection of Virtual Asset Clients. - No virtual token business operator in the category of virtual asset broker, including its staff members or employees who are aware or in possession of information related to any order for purchase or sale of any virtual assets or derivatives related to such virtual assets of any client of such business operator, shall take any of the following actions, either for the their own benefit or for the benefit of any other persons, in any manner that is likeiy to cause a disadvantage to the client:
(a) placing, modifying, or cancelling an order for purchase or sale of virtual assets or derivatives related to such virtual assets by taking advantage of doing so before the order of such client is completely executed;
(b) disclosing information related to the order of such client to any other person where they know or ought to know that such other person would rely on such information in placing, modifying or canceiling any order for purchase or saie of virtual assets or derivatives related to such virtual assets before the order of such client is completely executed.

SB 1041 dedicated a whole section for the protection and non-disclosure of the clients' market orders. Mahalaga ito para sa kahit sinong user ng isa crypto exchange dahil yung impormasyon natin sa ating mga traders ay mahalaga and para sa atin. Any kind of leaks sa ating mga orders ay magiging disadvantageous sa atin. Just think of an employee of the virtual exchange you are using is trying to sell your information/market orders to others just to get ahead of you and your orders, dito palang matatalo ka na sa mga trades mo dahil alam na nila yung mga galaw na gagawin mo sa exchange.


Pa-alala lang para sa lahat, this is still a Senate Bill ng Senado and nasa 1st reading palang ito ever since September, right now ang if titignan niyo ang contents ng Bill na ito masasabi niyong hilaw pa sya and konti palang ang naco-cover nito considering that the Bill is only 12 pages long madami pa syang kulang na kailangan ilagay. Hindi pa ito batas and malaki pa ang chance na ma-modify ito or mabago dahil recently nag-karoon na din ng meeting ang Pilipinas at Japan tungkol sa pagka-karoon ng "Pro-crypto laws" sa Pilipinas and baka maging malaki yung impact nito sa pagbabago ng ating magiging batas. Pero yung Senate Bill na ito ay pwede mag-silbing backbone kung paano huhulmahin ang ating magiging unang batas sa cryptocurrency dito sa Pilipinas.

[1. Anong Browser ang Ginagamit ko?]

So medyo dumadami na nga ang mga nakikita kong balita about fake investments and scams happening online, yung pinaka-recent na nabasa ko personally is itong balita na ito tungkol sa isang 19-anyos na lalaki na nahuli ng NBI na kilalang gumagawa ng phishing emails at websites ng mga kilalang bangko sa Pilipinas, and if you watch the video report maiinis ka talaga kasi sa sobrang daming ninakaw nya nakabili na sya ng kotse at lupa. Pero anyways bago pa mapunta sa ibang usapan ito ginawa ko yung post na ito para malaman niyo yung practice ko pag nasa internet ako. Pangungunahan ko na kayo and wala akong i-rerecommend na anti-virus sofware since wala akong makita na magandang libre na software para dito, also yung mga mga libre na software wala silang ino-offer na real time protection, bukod dun I can say that Windows Microsoft Essential and Windows Defender is already sufficient pag dating sa proteksyon ng iyong Windows computer.


1. Anong Browser ang Ginagamit ko?

Mozilla Firefox

Alam ko ang popular choice right now is Google Chrome but the thing is if you are using Chrome you are just basically letting them abuse your privacy dahil kilala silang kumukuha ng data sa lahat ng ginagawa mong activity sa browser. Firefox on the other hand are known advocates of your privacy palagi nilang tinatanong or pwede i-set kung ano pwede kunin na data sayo aside from that sila din ay nagblo-block ng mga trackers and cookies na kilalalang nag-momonitor ng iyong activity online.

Ito din yung mga useful features na nakita ko sa Mozilla when it comes to protection:

Early detection of a Virus/Malware on your downloaded file

Honestly I didn't know about this feature just about now, nalaman ko lang ito nung nag-iiscan ako ng mga potential scams and wallets with viruses sa ANN section ng Altcoins and VirusTotal failed to detect the file. Useful ito since before mo i-execute yung file may makikita ka na kaagad na warning sa dinown-load mo na file, this allows you to make necessary steps like confirming it with your anti-virus by re-scanning it and/or also checking if may false positive lang sila based sa research ninyo online kung ano rason bakit meron silang false positive sa file nila.

Built-in Protection from Cryptomining

Alam naman nating lahat ang term na "cryptojacking", ito yung pag-gamit ng walang permisyon ng isang software o website ng iyong computer para mag-mine ng cryptocurrency. Well ang Mozilla aside from blocking cookies and trackers meron silang built-in blocker for cryptomining scripts na kasama sa standard protection ng kanilang browser security. Isa ito sa mga best feature ng isang browser kasi magkakaroon ka ng peace of mind na yung site na binibisita mo hindi ina-abuso yung computer at kuryente niyo para kumita ng pera.


2. Ano ang Gingamit kong Plug-in/Add-on Extension para malaman ang isang Fake/Phishing Website?

Netcraft Anti-Phishing Extension

Para naman makita ko kung yung website na binibisita ko is yung totoo at yung tamang website ginagamit ko naman itong Netcraft Extension. Ang ginagawa nila is nagbibigay sila ng risk rating, domain information, at site ranking tuwing may binibisita ka na website. Yung "risk rating" na binibigay sa atin ay nang-gagaling din sa users ng extension na ito at iba pang sources ng pinag-gagamitan nila. Aside from that meron din silang feature na nagblo-block ng websites na merong malicious javascripts na pwedeng mag-nakaw ng credit card details ninyo. Pa-alala lang itong extension na ito ay dapat hindi tayo masyadong naka-depende and we should also practice our own observations pag-dating sa pag-bisita ng mga websites, just serve this extension as some kind of domain information checker kasi dito palang madami ka ng makikitang informasyon kung peke o tunay yung website.

Demonstration

Gagamitin kong example ang website na Trezor.io since ito ay kilalang madalas magkaroon ng Google ads from websites na nag-papanggap na sila, and ito lang din yung nakita kong existing website na hindi pa nablo-block enitirely ng Netcraft.

Real Trezor.io Website

Code:

https://trezor.io/

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Fake Trezor.io Website

Code:

https://wallet.terzcr.com/#

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Using Netcraft's Anti-Phishing extension makikita niyo yung difference ng orihinal at ng pekeng Trezor.io website. Yung orihinal na website sa US yung domain nila habang yung peke naman is galing sa Belize yung domain nila. The death of creation as well dun palang malalaman mo na kung sino yung totoong website at kung sino yung peke, the legit Trezor.io website is first seen in August 2016 while the fake website shows that is a "New Site". You should also take note na itong legit website ay may risk rating na "0" habang yung peke naman ay "10" at chaka naka-pula pa yung bar. Yung extension na ito ay talagang mapapakinabangan mo dahil na din sa safety measures niya pag ikaw ay gagamit ng websites lalong lalo na sa mga banking and wallet related sites/service.


3. Ano Ginagawa ko Bago ko i-download Yung File?

Scanning Files with VirusTotal

Na-mention ko na itong VirusTotal na sinbukan ko gamitin para sa isang link but it failed to capture the file, rarely lang mangyari ito. Ang VirusTotal ay masasabi kong risk-free way of knowing if yung file na ida-download mo ay may virus o wala just by providing them the link and letting them scan it for you. Masasabi kong risk-free ito kasi wala kang ida-download para malaman kung may virus ba yung file or wala kasi yung buong process ng pag-scan ng file is online.

Demonstration

For demonstration purposes susubukan ko i-scan ang free version ng CCLeaner gamit ang VirusTotal without downloading the actual file itself.

A. Siguraduhin yung file link ang kokopyahin mo

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Para ma-avoid yung website ang ini-iscan ng VirusTotal and hindi yung mismong file magandang ang mismong kunin na link is yung file mismo. You can do this by right-clicking the redirectible text and then click "Copy Link Location" this allows you na makuha yung direct link para sa file na nais mo i-download.

B. Go to VirusTotal, Paste the URL link and the Hit Enter

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C. Tignan ang Resulta and i-Double Check kung yung File nga ang Nai-scan at Hindi yung Website.

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To double check if yung file nga yung nai-scan mo and hindi yung website lang you should go sa "details" tab ng page and check if meron syang file size and file type necessary which in this case sa CCleaner makikita niyong 27.83 MB yung .zip file niya. After confirming that the file is clean maa-ari mo ng i-download yung program/file/software. Dapat gawin ninyo itong practice palagi even if you have double check the website o pinagtitiwalaan mo pa yung website mayroon chance din kasi na baka yung dina-download mo is na compromise pala ng ibang tao/entity kaya magandang gawing pag-iingat ito.

[More on the Data]

Ayon sa Hootsuite, a social media management platform, known for their research on things around the internet ang Pilipinas ay na-uuna sa mundo sa sa pag-aari ng cryptocurrency, leading the world by as much as 17% of it's internet users owning cryptocurrency, habang ang kasunod nito ay ang Brazil na nasa 13% ng internet users nila ay nagmamay-ari ng cryptocurrency. Ang worldwide average naman ay nasa 7% lang which is 10% lower compared to ours. Naglagay na din ako ng additional comments at opinyon ko kasi this is really good news para sa bansa natin.

More on the Data

Hootsuite sa kanilang Q1 2020 Digital Report ay namahagi ng ilang detalye tungkol sa cryptocurrency ownership and uses sa "E-commerce" part ng kanilang report. Dito ko nakita na from the 67% (world average is 59%) na Internet users sa populasyon ng Pilipinas 17% dito ay humahawak ng cryptocurrency which is really amazing to think about considering that a third of our population doesn't have access to internet dun sa merong internet madami ang may hawak ng cryptocurrency dito, para malaman niyo kung gaano kalaki ito gumawa ako ng simpleng chart para mas malinawan kayo

data gathered from Hootsuite's report

Makikita niyo naman na if we are just talking about internet penetration sa bansa natin kulelat tayo sa mga developed countries we are just 67% among our whole population who has access to internet. Pero dun sa 67% na iyon 17% dito ay mayroong hawak na cryptocurrency which is 25% (25.37% to be exact) of the internet users here in the Philippines owns cryptocurrencies. How does it compare to Japan, South Korea, and USA? Respectively 5.2%, 6.5%, 5.7% ng kanilang internet users ay humahawak ng cryptocurrency. This only means that 25% ng mga Filipino na may access sa internet ay aware din kung ano ang cryptocurrency at papaano ito gamitin.

What Can We Get Out of This?

If we think about it ang cryptocurrency use sa bansa natin in terms of it being a mode of payment ay madalang makita or through our Custodial Wallets lang (Coins.ph and Rebit) and mas madalas natin lini-liquidate ang crypto assets natin to Philippine Peso para mas may gamit. Kaya ko linagay yung tatlong bansa na ito (Japan, South Korea, and USA) as comparison kasi even if they are considered as a "Crypto Hub" or "Crypto Friendly Country" konti lang talaga ang may hawak nito sa kanilang mga Internet Users kumpara satin which is really sad to think about kasi kahit sila may mas madaming gamit sa crypto nila konti lang naman nakikinabang, compared sa sitwasyon natin madami nga tayong may hawak ng cryptocurrency wala naman pag-gagamitan. For any business/foreign investors this 17% could be seen as a very big market that has a potential to grow even more, this can easily be translated to demand for them and I know that when they see a market that lacks specific needs sila na din ang kusa na papasok sa bansa para gumawa ng business na crypto-related para sa mga crypto users na ito and to add on going pa din ang developments sa Crypto Valley of Asia project ng CEZA which makes their project more attractive to foreign investors since Hootsuite's data already has given them a peak of what their market will look like if they invest in the Philippines. I just see to myself that the crypto industry here in the Philippines is blooming because it has the potential, madami na tayong humahawak ng cryptocurrency paano pa kaya pag naging mas malawak ang gamit at acceptance nito?




P.S.
Ginawa ko yung post na ito kasi alam ko naman na madami satin nag-aalala sa COVID-19 situation sa bansa natin. Konting break muna dun sa magandang balita na ito. I intended this to keep our heads up that the crypto industry and mass adoption as well will happen in the Philippines in no time.
 

[1. Fake Testimonial Articles]

So may binisita akong website and nakita ko yung ad na ito. Pangatlong beses ko na ito nakita sa iba't ibang website pa kaya na-curious na ako sa pang huli. And dun ko nga nakita at masasabi na scam nga itong "trading bot" service na ito na galing sa Bitcoin Lifestyle. Paano ko masasabing scam kung wala pang reports na may nabiktima sila? Kung ngayon wala pa nawawalan ng pera pero hindi yun ang basehan para masabi kung legit ba or scam yung serbisyo na binibigay nila.

Ito ang aking basehan kung paano ko sila nasabing scam na serbisyo.

1. Fake Testimonial Articles

Ang mga HYIP sites para ma-promote nila yung kanilang website is gumagawa sila ng fake articles about their users kung paano sila kumita. Itong screenshot na ito ay nagmula dun sa ad na clinick ko. Unang una palang misleading na yung article, sabi "How to get rich with Bitcoin without Buying" pero dun sa article nila mayroon na 12680₱ na nakalagay which is around 250$ and yun yung minimum investment nila.

Ito naman yung kay Gordon Ramsay article nila about him earning Bitcoin through their trading bot. Pero madali mong masasabing peke ito dahil sa original na Youtube video kung saan kinuha yung mga pictures sa kunwaring "interview" nila is hindi naman pinag-usapan yung Bitcoin Lifestyle, the video itself has nothing to talk about Bitcoin. Wala ka din makikitang verified feedback kay Gordon Ramsay sa mga official accounts nya about him using Bitcoin Lifestyle.

2. Fake Celebrity Endorsement

Bukod kay Gordon Ramsay ibang sikat na milyonaryo din yung ginagamit nila yung Pangalan. Sila Bill Gates, Richard Branson, at chaka si Zuckerberg. We all know Bill Gates has negative views towards Bitcoin and biglang may ganito syang account? Branson way back before this site happened already warned a lot of people na ginagamit yung pangalan nya on fake ads to promote the service.

3. Bitcoin Trading Bot na Hindi tumatanggap ng Bitcoin?

This site only accepts credit card payments. Hindi ba kayo nagtataka kung paano ang isang crypto-related investment ay hindi nag-accept ng Bitcoin para sa kanilang Bitcoin trading bot? Obviously yung ganito red flag na kaagad kasi aanihin nila ang Fiat currency or credit mo para makapag start ka sa automatic trading nila. It is already a tell-tale sign na hindi sila nagtre-trade talaga dahil wala naman talagang trading na nagaganap, all you just see is your money "growing"


Tandaan hindi kailangan may mabiktima pa para masabing scam ang isang website/serbisyo. Nandyan na ang red flags sa harapan mo kailangan mo lang maging mapag-matyag at hindi madaling maloko sa ganitong easy way of earning type of scheme. Yung pera mang kung sakaling kikitain mo ay hindi dahil sa trading kung hindi dun sa pera na rini-recycle nila from new entries. Kung matatandaan niyo ganito din yung stilo ng Bitcoin Revolution nung unang sumikat and hindi ako masusurpresa kung isang tao lang nagpapatakbo nito.

Hello guys, may gusto lang sana ako bilihin sa Amazon luckily may direct shipping sya sa Pilipinas but ang problema ko ayaw ko gamitin yung credit card ko sa website na yun. Another thing is yung Galleon.ph ay malaki yung patong nila sa product kaya naghahanap ako ng way to directly use my Bitcoin to pay para ang dagdag na cost ko lang kung baka sakali is yung shipping cost papunta sa Pilipinas.

One method I have seen is what I have come across last year which is paywithmoon dito sa thread na ito. Isa syang Chrome extension na sila ang tatanggap ng Bitcoin payment mo tas sila ang magbabayad ng fiat, parang ito yung Dragonpay nila for Amazon na nakita na natin sa Shopee. So far wala pa naman ako nakikitang bad feedbacks (base sa mga reddit posts) aside from the unexpected permissions you need to agree in order for you to use their service, wala din daw silang pinapatong sa original price kaya nakaka-akit gamitin. So sainyo may naka-gamit na ba ng service nila dito? Kasi if ok naman ang experience niyo dito ito nalang din ang gagamitin ko kasi parang wala na akong choice kung hindi ito lang aside from third party service like Galleon na malaki yung patong.

^The above screenshot shows you a fake article tungkol sa sikreto daw ni Enrique Razon kung paano sya yumaman gamit ang BitcoinRevolution na HYIP site. Ginamit pa nila yung logo ng ABS-CBN at pangalan ni Bernadette Sembrano as an interviewer para manloko sa service nila. Nalaman ko yung article na ito ng bigla nalang lumitaw as a pop-up ad sa isang website na binisita ko. Nung una paniwalang paniwala ako kasi may logo ng ABS-CBN pero nung nakita ko na HYIP site yung prino-promote ni Enrique Razon dun na ako nag-duda and yun nga nakita ko din na hindi talaga sya tunay na link ng ABS-CBN. Ang Bilyonaryo.com.ph naglabas na din ng article about how names influencial people are using their names unknowingly para manloko ng mga Filipino. I won't be posting the fake article's link para hindi na din magamit sa mali pero para sa mga makakabasa nito sana marealize niyo na dumadami na din ang mga scams sa bansa natin kaya kailangan mag-doble ingat tayo.

Ito yung mga screenshot sa pekeng article about BitcoinRevolution:

Screen # 1

Screen # 2

Makikita niyo sa format palang ng fake news article masasabi niyo ng ginaya talaga ang ABS-CBN na news website. So madami talaga maniniwala sa ganitong paraan ng panloloko. Dapat matuto na din tayong maging observant pagdating sa mga websites na nabibisita natin kasi kahit anong oras man may lalabas na panloloko satin.

[What happened::]

What happened:: With some reverse image searching I discovered that SwabianCoin have fake identities for their team with the use of stock/template photos found online. The project doesn't appear to have any whitepaper found both from their website as well as their ANN thread

Scammers Profile Link: Flo_SwabianCoin
Reference Link:

ANN Thread [Archived]
Website [Archived]

FLAG LINK :
https://bitcointalk.org/index.php?action=trust;flag=1256

Additional Notes:

Note # 1: SwabianCoin only have two named team members in their website, Florian Steinhauser and Philipp Feucht both of which are using pictures found in the internet which I suspect are coming from a template website, as seen by this video (around 3:45 to 3:47) in Youtube and based on other websites having these models as stock photos.

Other Websites/Services Using the Same Pictures

translation of the highlighted text in the picture

Gather the information you already have

What do you know about your customers now? Who do you think they are? Outline who you think is the company's persona today, before you start gathering new information. Then you have a thought person (or more) to build on, and you have the opportunity to confirm or reject your own assumptions later.

Find a picture of the person. Having a visual representation of who you speak to will be helpful in writing blog posts, ad texts, social media posts, and the like.

Note # 2: Among the two FB profile links SwabianCoin has provided only Philipp Feucht's profile is working. The pics on Philipp's profile are way different compared to what they have provided in their website. So there are two possibilities here. One is that this project accidentally provided Philipp's true FB page or the second one is they just provided a random FB profile.

[Update]

So I've been browsing the Service Announcement board and I stumbled upon this thread [Archived] where his services are about using someone else's KYC to verify locked out accounts from users on crypto exchanges or for any websites that locked their accounts due to lack of KYC.

Hello members of Bitcointalk,


I offer a service that assists people who are not able to withdraw cryptocurrency from their exchange accounts.


The service I provide is KYC assistance wherein I work with an information donor in person to recover your funds. In this way, I am able to provide real documents on demand when and how the exchange requires them.

Upfront it looks like a good service for people who have locked their accounts because of the lack of KYC but the question is if this kind of service is even legal in the first place? The first thing that pops in my mind are Identity Fraud which is the misuse of someone else's documents for their own personal gain, the problem here is if the KYC obtained is with consent from the original owners of those KYC information but it might be different with some countries so the next thing I see is the possibility of this being about falsification of documents. Even if the KYC being provided is real the user who will use it is providing fake information of themselves just to unlock their accounts which counts as deception and fraud on their part. So what do you think about this service?

Update

Save existing threads from this user.

*picture from espn.com

So my friends had convinced me to join their NBA fantasy league and it will be my first time ever playing in one so I'm technically new. I've seen a lot of guides and videos about basketball fantasy leagues and I have a general idea for it but I really want to know more suggestions and tips here in the forum especially from members here that are experienced with playing fantasy basketball. Our draft will be coming up by the end of the week so I'm maximizing my time preparing for it. The league type will be head-to-head based on the settings I have seen and if you want to have more specifics about my league format just tell me.

Generally I want to know answers from this:

• What players to draft
• What players to avoid
• Strategy when picking from 1st to 5th
• Strategy when picking in the middle spot
• Strategy when picking on the 10th to 14th spot

Or any kinds of tips that won't at least make me look like a noob.

[What happened::]

What happened:: EARTHS who claims to give a Universal Basic Income for its participants provided a plagiarized whitepaper on their Github page while at the same time. They have also not provided any kind of team information ever since they have created their ANN thread.

Scammers Profile Link: Hatch Support
Known Affiliates: Earths Team

Reference Link:

ANN Thread [Archived]
Website [Archived]
Whitepaper [Archived]

FLAG LINK :
https://bitcointalk.org/index.php?action=trust;flag=827

Additional Notes:

Note # 1 : Plagiarized Whitepaper
Although they have referenced other sources for their whitepaper not of the plagiarized content have been referenced because it came from another project namely WAVES which most of their content came from it. One of the worst plagiarisms I have ever seen in a whitepaper since they just basically replaced the words "WAVES/ WAVES platform" to "EARTHS/ EARTHS platform". You can see WAVES' whitepaper here (any direct links would be appreciated so I can replace my source).

Example #1

EARTHS Whitepaper

WAVES Whitepaper

Example #2 Even their footnotes are the same

EARTHS Whitepaper

WAVES Whitepaper

Example #3 Like I said there footnotes/reference links are the same and even their ending conclusion

EARTHS Whitepaper

WAVES Whitepaper

Note # 2 : No Team
Aside from their project having no team they have evaded answering the question several times already in their ANN thread and instead answer differently compared to the questions asked by other members. For a project that aims to provide financial support to it's participants but eagerly does not disclosed any of its team members is just really a big red flag.

Hi,

Are there any links to the WhitePaper of the project? Also, please provide a picture of the team behind the project and integrate it to the website to validate its authenticity. Before you post any links directing to the website, please make sure to supplement all the important details for investors to read and observe.

Hi,

This is more a social project. If you are interested in investing in it, you can purchase our tokens and lease them to the node, or you can create a node and lease tokens on your own or purchase them directly. We will take into account your wishes and create a whitepaper.

what do you mean by a social project?
and just like other crypto projects they always create a whitepaper so it can attract more people

Before creating a project, the main goal was to help people. Profit extraction in this project is secondary for the team. It would be correct to say that the team is not focused on making a profit from this project.

This TS opened more thread with different project name, seems that this one is similar to the others with different names that aims to collect money from those gulibles that would believe him. Sorry to say but more of the forum members are already doing their due dilligence and could not be easily lured into this kind of scheme.

Because we are one and the same Team, but the projects are different, therefore we use the same name. But we will ever separate and HATCH will be separate and EARTHS, IPU will be separate.

[What happened::]

What happened:: Masternode Fund (MNF) Coin with their cheaply built website and whitepaper said two different statements claiming to be both a Stellar-based token as well as an Ethereum-based token.

Scammers Profile Link: MNFcoin

Reference Link:

ANN Thread [Archived]
Website [Archived]
Whitepaper [Archived]

Additional Notes:

Note # 1 : On their website MNF coin has claimed to be a Stellar token but on their whitepaper they have stated that they are a Ethereum token.

Website

Whitepaper

Even though their lame whitepaper is just a one pager without really any new content and was just directly taken from their coin's description on their website they still made a mistake on making it a Ethereum token, surely the whitepaper was rushed to commit a bad mistake like this. This Stellar based token if not a scam is a pump and dump coin to say the least.

Note # 2 : No Team

With a bold project on creating Masternodes for other cryptocurrency projects out there they have not mention of any names part of their team covering their own project. A project like this one to be even trusted by other projects should show who will be managing and creating their token's masternode, but you won't have it with MNF. Their website really contains no information whatsoever and just like their whitepaper all of their info is fitted into that one page they have, clicking the tabs they have will just redirect you to that section found in that one page.

Note # 3 : Surely a pump and dump/ exit coin

Prices started at .03 XLM = 1 MNF coin for its pre-sale price but with just 24 hours of its existence the price go down to just .01 XLM = 1 MNF (.01 XLM is just 9 satoshis) or 60% of its pre-sale value. No more trade activity can be seen after that big drop.

[What happened::]

What happened:: AwardCoin have blatantly plagiarized multiple sources found in the internet, some of the content doesn't even originate from other whitepapers but straight-out websites just found in Google's search engine. Their CEO's profile (including the name) appears to be stolen from an Account profile in a networking website.

Scammers Profile Link: Lokomotiff

Reference Link:

ANN thread [Archived]
Website [Archived]
Whitepaper [Archived]

Additional Notes:

Note # 1 : Plagiarized Intro from another whitepaper
Since their whitepaper is on a image format I have to manually search some areas of the page and the first I looked at is their intro for their ICO and instantly I got a hit. Their introduction came from MetaHash's Whitepaper.



Note # 2 : Plagiarized Content from a Website (Even Examples are directly copied)
Another plagiarism found is when they have copied the content of Crowdsignal's article, they even use the same example for both subjects.




Article's examples



Examples directly copied.....


Note # 3 : Fake CEO
The project's CEO is also fake, from what I discovered the "Syed Khalid Hussain Shah" (If that's even a real person) is just a person part of a sketchy ad networking/ traffic website. I have found out that this "Syed Khalid Hussain Shah" of ADZbuzz also has a Youtube channel talking about the Ad website but nothing about the Award Coin Project.

Syed Khalid Hussain Shah of AwardCoin


Syed Khalid Hussain Shah of ADZbuzz



P.S.
You should also take note that Syed Khalid Hussain Shah is a name used by a famous religious leader in Islam.

[What happened::]

What happened:: CryptoYen has plagiarized various ICO whitepapers and both their website and whitepaper contains no team information.

Scammers Profile Link: ANN Thread poster : SmartInsider

Reference Link:
Ann Thread [Archived]
Website [Archived]

Additional Notes:

Note # 1 : Plagiarized Whitepaper
CryptoYen have plagiarized content on both Lytix and and PIVX whitepaper. Also to note that PIVX is the oldest project among the three but Lytix in it's whitepaper stated that they are inspired with the PIVX project and still copied directly some parts of the whitepaper.

 

Plagiarized Content # 1

Plagiarized Content # 2

Plagiarized Content # 3

Plagiarized Content # 4

Note # 2 : No Team Profile

Aside from their plagiarized whitepaper they also didn't mention any kind of team members involved in the project. Looking at the bottom of the page you will see that SmartInsider (the one who posted the ann thread) is directly affiliated to the website. Also stated in CryptoYen's website is in SmartInsider is also the creator of ZijaCoin which their website link (link stated in SmartInsider's profile) is zija(.)icu will instantly redirect you to their recycled ann thread [Archived] which is now use as CryptoBang's ann thread (will be looking into this next).