REPOST : Filipinos warned vs bitcoins, cryptocurrencies

[LynielZbl]

 Paulit-ulit na nagbibigay ng babala ang BSP dahil na-aalarma sila patuloy na paglaki ng presyo ng Bitcoin ngayon. dinidiacourage nila ang pag-iinvest sa bitcoin dahil sobrang risky daw ito. Natatakot sila para sa mga investors na baka daw biglang mawala ang bitcoin, at masayang lamang ang pera nila.
Napanood ko ito sa isang report ng GMA 7 about Bitcoin.

[cbdrick12]

That makes me laugh, whenever the government sees a possible business for a lower class or even upper class they tend to disrupt it. Alam kasi nila na pagkakakitaan ito, at dahil wala silang kamay na pwedeng maihrang dito nananakot na lang sila para di ka pumasok sa bago at mag stay parin sa lumang ways na inaapprove nila.

[Fafabol]

Paulit-ulit na nagbibigay ng babala ang BSP dahil na-aalarma sila patuloy na paglaki ng presyo ng Bitcoin ngayon. dinidiacourage nila ang pag-iinvest sa bitcoin dahil sobrang risky daw ito. Natatakot sila para sa mga investors na baka daw biglang mawala ang bitcoin, at masayang lamang ang pera nila.
Napanood ko ito sa isang report ng GMA 7 about Bitcoin.

Takot ang BSP dahil kapag mas marami ng nagiinvest sa bitcoin bigla naman liliit ang mag iinvest sa stock exchange na may direktang epekto sa ating ekonomiya. Lumillet na rin ang nagpapadala na OFW gamit ang mga remittance centers dahil through bitcoin na rin ang way nila sa pagpadala which is mas mababa ang transaction fee. Di na ko magtataka kapag naghigpit ang gobyerno laban sa bitcoin.

[rowel21]

hiyp is the most Terrifying in this system those person in hiyp is the one recruited a member even they know that the fauce or bounty is a scammer cause they can gain something they ready to make others down botcoin itself is not the problem here

[Jlv]

Of course they will say that, they are not in favor in bitcoin yet eh, although alam naman nila ang bitcoin dahil inaaral pa din nila to but syempre yong trust ay hindi  pa din nadedevelop dahil nga po ang bitcoin price ay hindi kontrolado ng ating gobyerno kaya po nila nasasabi yan, it is their job din to warned us kaya natural lang yan.

Hindi talaga maiiwasan ang ganitong usapin dahil na rin sa kagagawan ng mga scammers, kaya nakakatakot din minsan na mag invest talaga lalo na at malaki ang ilalabas mong pera.

[sheenshane]

Of course they will say that, they are not in favor in bitcoin yet eh, although alam naman nila ang bitcoin dahil inaaral pa din nila to but syempre yong trust ay hindi  pa din nadedevelop dahil nga po ang bitcoin price ay hindi kontrolado ng ating gobyerno kaya po nila nasasabi yan, it is their job din to warned us kaya natural lang yan.

Hindi talaga maiiwasan ang ganitong usapin dahil na rin sa kagagawan ng mga scammers, kaya nakakatakot din minsan na mag invest talaga lalo na at malaki ang ilalabas mong pera.

Yes lately the Central Bank of the Philippines recognized bitcoin here in our country na pweding gamitin yun nga lang they warned us that we must be careful sa posibling mangyaring scam ng dahil sa bitcoin. Luckily our country was open minded when it come of virtual currencies the embrace here bitcoin as a kind of currencies. Pwedi kasing abusihin ang bitcoin that may used in illegal activities such as buying drugs or high powered weapon by terrorist.

[ChrishAi28]

Concern lang naman ang BSP sa kapwa nating mga pilipino para maiwasan na baka may mascam. Nagagamit kasi ng ibang tao ang bitcoin para makapag scam kaya nila sinasabi nila na dont get involve sa bitcoin. Baka yung perang pinaghirapan natin ng ilang taon ay biglang mawawala sa isang iglap.

[Adriane14]

I believe in the rules of law, In the legalities of how crypto should be handled, In a Decentralized and Just gov't, I Hate Terror and its funding, Hate Money laundering, Hate corruptions, Hate Over Control in Centralization, Hate how people die cause of hunger or sickness that can only be cured by a fiat we need a digital revolution a new vission of how tomorrow should work we can't just sit and wait for new gov't bodies to dictate it for us c'mon we ain't a lazy citizens we need to act now! thats why Satoshi Nakamoto introduce a new era of how gov't should be mastered a new tech called blockhain and a new cryptocurrency called Bitcoin we need to look ahead of time on how to solve the mystery of life and the anomaly of this God forsaken world. Humans should think and see whats up ahead not just focus straightforward or lingger downward. Normal people can perceived 3 dimension and those who are crazy enough to visualize whats ahead who can see up to 4 dimension and beyond should unite and show this world who is the real Beast. You ain't a slave and Humanity should wake up to fight the real enemy.

[lightning mcqueen]

Concern lang naman ang BSP sa kapwa nating mga pilipino para maiwasan na baka may mascam. Nagagamit kasi ng ibang tao ang bitcoin para makapag scam kaya nila sinasabi nila na dont get involve sa bitcoin. Baka yung perang pinaghirapan natin ng ilang taon ay biglang mawawala sa isang iglap.

mas ok din naman kung makikinig tayo sa warning ng gobyerno natin, para maging aware tayo na meron at meron bitcoin user na nag aantay lang ng mabibiktima para ma scam. dahil nagagamit ang itong bitcoin para makapang loko ng iba.

[ruthbabe]

Concern lang naman ang BSP sa kapwa nating mga pilipino para maiwasan na baka may mascam. Nagagamit kasi ng ibang tao ang bitcoin para makapag scam kaya nila sinasabi nila na dont get involve sa bitcoin. Baka yung perang pinaghirapan natin ng ilang taon ay biglang mawawala sa isang iglap.

mas ok din naman kung makikinig tayo sa warning ng gobyerno natin, para maging aware tayo na meron at meron bitcoin user na nag aantay lang ng mabibiktima para ma scam. dahil nagagamit ang itong bitcoin para makapang loko ng iba.

OP was posted on November 30, 2017, 02:17:46 AM (quoted below) and it's a news report from Philippine Daily Inquirer dated November 29, 2017. Don't know why you guys were talking about SCAM as it's not even mentioned. It's a warning about the risks of investing and/or buying Bitcoin. So, if only some of our countrymen listened to the WARNING they would have avoided the loss of their hard-earned money. I'm not against Bitcoin and other coins, but we must accept the fact that due to Bitcoin volatility investing in it is extremely risky. We saw the price of bitcoin climb from below $1,000 to nearly $20,000 in December 2017... and many rides, here and abroad thinking it will continue soaring high up to $20,000 and above, but they lose huge as Bitcoin plunged drastically.

Filipinos hoping to cash in on the bitcoin craze were warned by the chair of the House banks and financial intermediaries committee on Wednesday about the risks of investing in cryptocurrency, as the price of bitcoin surged to $10,000.

Eastern Samar Rep. Ben Evardone urged Filipino investors not to part with their hard-earned money by buying bitcoins in the hope of making quick profits.

At the hearing of the committee on banks and financial intermediaries Tuesday, officials from the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission, and representatives from the banking sector, “were one in advising the public against investing in bitcoin or any other virtual currency,” he said.

“They said it is very risky, speculative and [has] no safeguards,” Evardone said in a statement.

The price of bitcoin hit the $10,000 mark on Wednesday.

Evardone said Filipinos might get tempted into putting all their savings and retirement funds into bitcoin and other cryptocurrencies “without realizing that they could lose everything in one drastic plunge.”

“Cryptocurrencies like bitcoin are a promising low-cost remittance platform for Filipino workers sending their earnings home but they are extremely risky investments due to lack of regulatory protections for consumers,” he said.

Bitcoins and other electronic currencies are not backed by a bank, any existing currency unit in circulation, or any asset of tangible value that offer some degree of security for its buyers.

“Investors stand to lose everything overnight if exchange platforms for cryptocurrencies shut down or when the consumer’s virtual wallet containing confidential information is hacked or stolen,” Evardone said.

He cited the biggest cryptocurrency hacking incident in February 2014 when $460 million worth of bitcoins was lost in Japan in the infamous Mt. Gox case.

Another cryptocurrency, tether, was the subject of the most recent hack early this month resulting in a reported loss of $31 million, according to Evardone.

[coinxwife]

The problem is, there will never be safeguards put in place. With bitcoin, you are your own bank. You control your private keys.

If you don't control your private keys, you don't own the bitcoins.

Yes . tama ka po. Dapat talaga na itago natin ang mga bitcoin natin sa mga wallet na mayroong private key. Ang mga private key kasi ay nagsisilbing password upang makita, ma withdraw at madeposit natin ang mga bitcoins natin.

Totoo yan only our private keys ang siyang magbibigay seguridad sating mga naipong any coins sa ating wallet,so dapat huwag ibaliwala keep it on a proper places or make a double copy on it.

[caseback]

Nasa atin kasi ang tamang paghawak mismo nang seguridad sating wallets eh kung pabaya tayu may tendency na mahack o mawala ang ating private keys lalo nat nadelete sating mga private notes rin lalo nat pinaglaruan nang mga bata ang cp natin,so make a double list on your notebook and put in proper place na di ma reach nangbmga bata.,para maiwasan ang pagkawala sating pinaghirapan.

[mikaeltomcruz12]

Hindi naman ay lahat pinipilit sa pag gamit ng bitcoin. Pero mas malaking tulong sana sa lahat kung magiging legal ang bitcoin sa bansa pero bago kasi mangyari ito kinakailangan munang ayusin nang ating gobyerno ang bilis ng internet natin sa bansa sa nakikita kung dahilan kung bakit ayaw parin isalegal ng ating gubyerno ang bitcoin sa bansa ay dahil hindi din nito alam kung kelan tataas o kelan baba ito kaya hindi magawa nang ating gobyerno na lubos na mapagkatiwalaan ang bitcoin. Bagkus may mga napapabalita pa sa ating bansa na mga na scam na bitcoin investors.

[staradvincula]

I think yang message na yan at hindi para warningan ang mga Filipino about bitcoin investing.  Para yan idiscourage ang mga investors na mag invest sa bitcoin dahil walang proteksyon ang investment nila.  Masyado na lang kasi sila naaalarma sa pagbaba ng bilang na nag iinvest sa banko.  Kaya bitcoin ang nakita nilang dahilan.  Bukod kasi dito, wala din silang napapala sa mga kinikita ng mga investors ng bitcoin.  Wala kasing tax! Aminado naman ako na malaki talaga ang risk pero, matalino, maabilidad at sigurista ang mga Pinoy.  Responsibilidad natin ang ating private key at kalingan by ibayong ingat para iwas sa mga hackers.  Why should I put my whole harvest into one basket?  Scammers are all around.  Sigurado din ako na pinag-aaralan na ng gobyerno natin na maging legal ang bitcoin dito sa Pilipinas pero matagal pang process yan.  Kung sakaling mangyari ito, siguradong tax ang una nilang ii-implement.