how can bitcoin have a good impression if there are people like this!??

[brylle34]

 Filipino couple amasses at least P900M in alleged Bitcoin scam

MANILA, Philippines – 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.

According to Dela Rosa, the couple has scammed more than 50 unknowing investors, amassing wealth worth P900 million* in "raw capital." This means the amount of money promised to be returned is not yet included in the computation. – Rappler.com

click the link for more info https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam
if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

[1715029366]

1715029366

[1715029366]

1715029366

[Kakmakr]

You cannot judge a whole community on the actions of a few criminals <individuals> like this. Every technology or commodity that are linked to some sort of monetary value, will at one stage be used by a small group of individuals to commit crime. The few rotten apples should just be discarded and the good apples should be used in the making of the Apple juice. ^smile^

Money & wealth draw criminals, like a turd draws flies.

[mk4]

Ohwell. There's always going to be greedy people running investment scams masquerading as some legit investment and there's always going to be Darwin's award-winning delusional people believing and investing in these kinds of things. Another bad publicity for bitcoin I guess.

[kalstarzz]

currently there are many cases involving the name of bitcoin even in my country has reached approximately 7 or 5 cases. and things like this are bad for all bitcoin communities because most of the negative things about bitcoin have an effect on the price. let's keep the good name of bitcoin the way we keep those bitcoin users around us, let's do it for the good of us all.

[davis196]

Filipino couple amasses at least P900M in alleged Bitcoin scam

MANILA, Philippines – 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.

According to Dela Rosa, the couple has scammed more than 50 unknowing investors, amassing wealth worth P900 million* in "raw capital." This means the amount of money promised to be returned is not yet included in the computation. – Rappler.com

click the link for more info https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam
if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

I thought that cryptocurrency trading and investing is banned in the Philippines.
Well,I guess thats why we need all ICOs and crypto trading platfoms to comply with more regulations and
reveal more information about their owners and devs.This case is just a random HYIP/ponzi scheme.They could easily scam people,promising insane profits from any other altcoin,but I guess that there`s still some hype around bitcoin.People believe that they could make huge profits overhight from btc,in reality,it`s not that easy anymore.  

[zolfa]

Filipino couple amasses at least P900M in alleged Bitcoin scam

MANILA, Philippines – 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.

According to Dela Rosa, the couple has scammed more than 50 unknowing investors, amassing wealth worth P900 million* in "raw capital." This means the amount of money promised to be returned is not yet included in the computation. – Rappler.com

click the link for more info https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam
if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

thanks for the information, this is an accident for bitcoin, and in the end, the public will judge bad bitcoin. public and investors will not be interested in bitcoin, and bitcoin gets red trust from investors, so bitcoin spreading will drop drastically, and bitcoin will be dying.

and it will be difficult to rise again.

[brylle34]

You cannot judge a whole community on the actions of a few criminals <individuals> like this. Every technology or commodity that are linked to some sort of monetary value, will at one stage be used by a small group of individuals to commit crime. The few rotten apples should just be discarded and the good apples should be used in the making of the Apple juice. ^smile^

Money & wealth draw criminals, like a turd draws flies.

yes exactly the problem is because the the world of crypto (BITCOIN) is just starting in the country of the Philippines, its not a good start if you will see this kind of things, on the headlines of news. but we cannot control that there are some people scammers who are taking advantage to newbies that wants to earn profit. its just sad because we want people to invest on Bitcoin so that the value will rise, its not just small money its almost 18,890,000 USD, that's why it has a big impact for investors

[Cofee.BLUE]

Filipino couple amasses at least P900M in alleged Bitcoin scam

MANILA, Philippines – 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.

According to Dela Rosa, the couple has scammed more than 50 unknowing investors, amassing wealth worth P900 million* in "raw capital." This means the amount of money promised to be returned is not yet included in the computation. – Rappler.com

click the link for more info https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam
if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

Well, this will be the one of many reason why some countries are not yet legalized and totally banned crypto.  Because of the people that so insensitive, they never meant what will be the effect of any bad or wrong things they be done to others but I thought this issue are not only in the Philippines happened, there also some countries has the same issue. It really means that no matter where we are there is such a people like them that surrounds us so I think the best solution for this is we need to make much more strictly regulations in crypto world therefore it will lessen the people that are scammers.

[brylle34]

Filipino couple amasses at least P900M in alleged Bitcoin scam

MANILA, Philippines – 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.

According to Dela Rosa, the couple has scammed more than 50 unknowing investors, amassing wealth worth P900 million* in "raw capital." This means the amount of money promised to be returned is not yet included in the computation. – Rappler.com

click the link for more info https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam
if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

I thought that cryptocurrency trading and investing is banned in the Philippines.
Well,I guess thats why we need all ICOs and crypto trading platfoms to comply with more regulations and
reveal more information about their owners and devs.This case is just a random HYIP/ponzi scheme.They could easily scam people,promising insane profits from any other altcoin,but I guess that there`s still some hype around bitcoin.People believe that they could make huge profits overhight from btc,in reality, it`s not that easy anymore.  

Bitcoin is not banned on the country of the Philippines in fact there are applications that uses bitcoin to pay bills buy gaming credits, send cash, money transfer etc. but there are rumors that when you connect your app (bitcoin app) to encash money through bank accounts, the bank accounts you are using will be banned without prior notice they will just say that they will close your accounts if you are using it with bitcoin or any related crypto currency. But there are banks that you can use to get fiat from bitcoin  

[MinerHQ]

thanks for the information, this is an accident for bitcoin, and in the end, the public will judge bad bitcoin. public and investors will not be interested in bitcoin, and bitcoin gets red trust from investors, so bitcoin spreading will drop drastically, and bitcoin will be dying.

and it will be difficult to rise again.

The above incident is nothing to do with bitcoins because they were running a fraud scheme but they just choose the cryptos as a payment option because of easy and anonymous transactions. Even those guys ask for other means of payment also some people might have invested in these HYIP or multi-layer schemes. Nowadays everyone wants easy and fast money but if they get scammed then blame it on a technology instead blaming themselves for not thinking enough to make a vice decision.

[Fulmand]

You cannot judge a whole community on the actions of a few criminals <individuals> like this. Every technology or commodity that are linked to some sort of monetary value, will at one stage be used by a small group of individuals to commit crime. The few rotten apples should just be discarded and the good apples should be used in the making of the Apple juice. ^smile^

Money & wealth draw criminals, like a turd draws flies.

I agree, this criminals becomes successful in their evil schemes because there are also people who are not vigilant or careful enough to think over their investments. It is our duty to be careful of our hard earned money and the first sign of something fishy or unusual we must report to authorities asap. The success or the failure of our investments relies 80% in the hands of the investor. If they have been scammed then it means they want easy money the reason that they lost the 100% control over their financial endeavors.

[Xester]

Because of that people who does not understand bitcoin will just simply say bitcoin is a scam do not invest in bitcoin. I have heard many people saying like that, and I just smiled since I know they dont understand what bitcoin really is. Even the news reporters are also have less knowledge about bitcoin and would also say do not invest in bitcoin, invest in security's and stocks instead.

[bungutko]

Filipino couple amasses at least P900M in alleged Bitcoin scam

MANILA, Philippines – 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.

According to Dela Rosa, the couple has scammed more than 50 unknowing investors, amassing wealth worth P900 million* in "raw capital." This means the amount of money promised to be returned is not yet included in the computation. – Rappler.com

click the link for more info https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam
if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

Well, this will be the one of many reason why some countries are not yet legalized and totally banned crypto.  Because of the people that so insensitive, they never meant what will be the effect of any bad or wrong things they be done to others but I thought this issue are not only in the Philippines happened, there also some countries has the same issue. It really means that no matter where we are there is such a people like them that surrounds us so I think the best solution for this is we need to make much more strictly regulations in crypto world therefore it will lessen the people that are scammers.

This news is quite bad for bitcoin community but that is actually beyond our control wherein there are people scamming other people for their own interest. Just hoping this kind news could not impact the growth in bitcoin in the coming weeks wherein btc is already on dip.

[lolek_bolek]

Scammers have been around long before Bitcoin. There were millions of scams before bitcoin came along so we can't blame it for this.
In this scam bitcoin was used because of its very useful features like anonymity and simplicity for transactions.
If people throw money at someone promising them profit its they own problem really.

[Wind_FURY]

OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal. I heard your president is a malevolent, crazy maniac who likes to get poor and oppressed people killed for doing the lightest of drug offenses.

My suggestion for things you should buy with your Bitcoin. A bullet proof vest and life insurance. Hahaha.

[leonair]

There are more scams happened and still happening until this day because these scammers are riding the fame of Bitcoin and taking advantage those people that are gullible enough to believe in this kind of easy rich schemes.

Being skeptical to new things are a natural reaction of every individual so you can't blame those people who doesn't believe or having hard time to trust the potential of Bitcoin itself but guess what they tend to believe in this kind of things.

We all once ignorant in different things though so for me it's just a matter of time before mass adoption will go through in the Cyptocurrency scene but with this kind of issue will be surely affect the name of Bitcoin but for only just a short period of time because the truth will surely prevails so we have nothing to worry about.

[DREWSKIE]

Filipino couple amasses at least P900M in alleged Bitcoin scam

MANILA, Philippines – 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.

According to Dela Rosa, the couple has scammed more than 50 unknowing investors, amassing wealth worth P900 million* in "raw capital." This means the amount of money promised to be returned is not yet included in the computation. – Rappler.com

click the link for more info https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam
if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

With the popularity of Bitcoin, people with bad intentions will take advantage of it just like what happened here in the Philippines. Filipinos tend to be swayed easily if they are promised for easy money. It is also a factor that those whoe were victimized were not familiar how Bitcoin works.

The only good side of this is that people will be more vigilant in investing in Bitcoin and they'd do more research about it.

[Direwolve735]

There are always people who want to deceive. Fraud can manifest itself in any project, even the most successful and seemingly safe. It's not in Bitcoin as a crypto-currency project, but in a human nature. It is necessary to distinguish these things, so as not to abandon the potentially promising projects because of the fear of getting on the scammers. You need to take a justified risk and connect your knowledge and skills so as not to run into deceivers.

[brylle34]

OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal. I heard your president is a malevolent, crazy maniac who likes to get poor and oppressed people killed for doing the lightest of drug offenses.

My suggestion for things you should buy with your Bitcoin. A bullet proof vest and life insurance. Hahaha.

If your not from the country of the Philippines you will not understand what is the President aims to do, i think government will not ban cryptocurrencies because they are studying bitcoin because it may help overseas Filipino workers to get their money easily. what the Presidents wants to do is to wipe all out the illegal drugs, its not hard because there are people that also have a high status in the government are the one's who are drug protectors. We know that in this world anything is possible with money that's what he is trying stop. we don't know if the one who is killing is the drug sindicates also they can pay some policeman to kill their people for them to not to talk, we can't just judge the President or anyone without any valid reasons.

[hase0278]

if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

If that is the case then people's first impression into fiat should have been bad. IMO there are many scammers everywhere using fiat, so don't think that scams like this only happens with bitcoin and crypto. The 1st impression of investors shouldn't be affected by this incident.

OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal.

Do not fear for bitcoin holders in Philippines since as far as I know, the Philippine government already took a step to legalize bitcoin way back in January. According to coindesk, Philippines SEC plans to craft rules intended to regulate crypto news and ICO's. Why would government agencies issue regulation rules if they will ban it?
Sources:
https://www.coindesk.com/philippines-sec-plans-to-regulate-cryptocurrency-trading-icos/
https://news.bitcoin.com/philippines-move-in-direction-to-legalize-bitcoin-as-a-security/

[CryptoCZe]

You can look at crypto-currencies both from positive and negative sides, be ready for it

[gentlemand]

OP is right. All my wallets have been burnt and the wallets deleted. I simply cannot in good conscience continue when someone I've never heard of and will never meet does something halfway around the world that I'm completely uninterested in.

[VitKoyn]

You have to understand there are people that will always takes advantage on things that has a value or things that can be converted to cash, it is not only Bitcoin that can be used on those illegal activities even commodities and the current monetary system we are using can also be used by those scammers, criminals and other illegal doers. In this case, the one who should be blamed are those greedy people who thinks that they can make easy money by investing on those investment programs that promises huge returns in just short period of time, we all know that all this kind of investments will turn into scam later on. If people are educated on where they will put their money, this kind of scams can be prevented.

[Wind_FURY]

OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal. I heard your president is a malevolent, crazy maniac who likes to get poor and oppressed people killed for doing the lightest of drug offenses.

My suggestion for things you should buy with your Bitcoin. A bullet proof vest and life insurance. Hahaha.

If your not from the country of the Philippines you will not understand what is the President aims to do, i think government will not ban cryptocurrencies because they are studying bitcoin because it may help overseas Filipino workers to get their money easily.

That would also mean that banks will lose some of their profit. The banks clearly won't like that. There is also a big possibility that they helped fund your president's campaign.

what the Presidents wants to do is to wipe all out the illegal drugs, its not hard because there are people that also have a high status in the government are the one's who are drug protectors. We know that in this world anything is possible with money that's what he is trying stop. we don't know if the one who is killing is the drug sindicates also they can pay some policeman to kill their people for them to not to talk, we can't just judge the President or anyone without any valid reasons.

Bitcoin does have its history connected with drugs and the dark markets. What would happen if your president discovers that it would be easier for drug dealers and terrorists to move their money with Bitcoin?

[Angelia46]

Cryptocurrency markets are now riddled with fraud.
But technology is not guilty, and that does not mean it is illegal to Cryptocurrency markets.

[zarados]

Filipino couple amasses at least P900M in alleged Bitcoin scam

MANILA, Philippines – 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.

According to Dela Rosa, the couple has scammed more than 50 unknowing investors, amassing wealth worth P900 million* in "raw capital." This means the amount of money promised to be returned is not yet included in the computation. – Rappler.com

click the link for more info https://www.rappler.com/nation/199915-filipino-couple-amasses-millions-bitcoin-scam
if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

No company achieves its glory in an instant way, nor with technology. Currently, bitcoin technology is being widely discussed around the world, about the benefits that can be generated as well as the weakness or impact that can arise. There are elements of pro against and some are cons to it. People who pro against it take advantage of this technology in accordance with its function, although there are also persons who use it for the crime. While people who cons against it only focus on the negative impact that can be generated from this technology. They are all tests that bitcoin must pass to get to the top of its glory and it is not easy and takes a long time.

[xuan87]

Yeah, unfortunately for the people that still don't understand about Bitcoin will more believe in media, so this kind of news can bring more people to stay away from Bitcoin and the worst is the media going to blow up this news to make crypto is a criminal coin

[hadveach]

I think the bitcoin value will not be stable and always down if there are still people who make a good name of bitcoin become bad. because criminals and fraudsters by using the bitcoin name will always utilize the opportunity to search for more victims.

and I think this is a reason why bitcoin should be adopted well and make a regulation about crypto. so the people who misuse bitcoin will be punished firmly.

[Elips1]

currently there are many cases involving the name of bitcoin even in my country has reached approximately 7 or 5 cases. and things like this are bad for all bitcoin communities because most of the negative things about bitcoin have an effect on the price. let's keep the good name of bitcoin the way we keep those bitcoin users around us, let's do it for the good of us all.

,,,Exactly,that let us keep the good reputation of bitcoin, I think not all bitcoin users are criminals and scammers, but most bitcoin users are responsible to the good works for a living.

[paul00]

I think, this happening should be a lesson to all of us and other people. Scammers exist since there are those who are being scammed. I am not blaming the innocent people who have invested on this couple but in my opinion we all should be careful especially when we will be investing our money since scammers are everywhere and just waiting for someone to bite on their tag.

[brylle34]

OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal. I heard your president is a malevolent, crazy maniac who likes to get poor and oppressed people killed for doing the lightest of drug offenses.

My suggestion for things you should buy with your Bitcoin. A bullet proof vest and life insurance. Hahaha.

If your not from the country of the Philippines you will not understand what is the President aims to do, i think government will not ban cryptocurrencies because they are studying bitcoin because it may help overseas Filipino workers to get their money easily.

That would also mean that banks will lose some of their profit. The banks clearly won't like that. There is also a big possibility that they helped fund your president's campaign.

what the Presidents wants to do is to wipe all out the illegal drugs, its not hard because there are people that also have a high status in the government are the one's who are drug protectors. We know that in this world anything is possible with money that's what he is trying stop. we don't know if the one who is killing is the drug sindicates also they can pay some policeman to kill their people for them to not to talk, we can't just judge the President or anyone without any valid reasons.

Bitcoin does have its history connected with drugs and the dark markets. What would happen if your president discovers that it would be easier for drug dealers and terrorists to move their money with Bitcoin?

i think it can't ban bitcoin right now because the country of the Philippines needs source of money, right now the Philippines has many debt because of the previous government regulation and officials, That's why  the country needs to get more investors in the Philippines.

if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-

If that is the case then people's first impression into fiat should have been bad. IMO there are many scammers everywhere using fiat, so don't think that scams like this only happens with bitcoin and crypto. The 1st impression of investors shouldn't be affected by this incident.

OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal.

Do not fear for bitcoin holders in Philippines since as far as I know, the Philippine government already took a step to legalize bitcoin way back in January. According to coindesk, Philippines SEC plans to craft rules intended to regulate crypto news and ICO's. Why would government agencies issue regulation rules if they will ban it?
Sources:
https://www.coindesk.com/philippines-sec-plans-to-regulate-cryptocurrency-trading-icos/
https://news.bitcoin.com/philippines-move-in-direction-to-legalize-bitcoin-as-a-security/

The Philippines' Securities and Exchange Commission said on Monday (Jan 29, 2018) it is crafting rules to regulate cryptocurrency transactions to protect investors and reduce the risk of fraud. The regulation, which will cover issuance and registration of cryptocurrencies, is expected to be finalized this year, said Emilio Aquino, SEC commissioner in charge of enforcement and investor protection, according to Reuters.
You can read what hase0278 (thank you sir for posting) said:
links for more info:
https://www.coindesk.com/philippines-sec-plans-to-regulate-cryptocurrency-trading-icos/
https://news.bitcoin.com/philippines-move-in-direction-to-legalize-bitcoin-as-a-security/

[filharvey]

Bitcoin is a new revolutionary invention.As we know,scammers mostly use newer technologies mostly to scam people easily.So its quite natural that they have used bitcoin to scam people.Already bankers and critics are accusing that bitcoin is used for illegal activities.They would feel much happy on hearing such news.

Since bitcoin is a decentralized currency,such scams could not be effectively controlled.Its normal people's duty to remain cautious while getting such offers.

[Wind_FURY]

OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal. I heard your president is a malevolent, crazy maniac who likes to get poor and oppressed people killed for doing the lightest of drug offenses.

My suggestion for things you should buy with your Bitcoin. A bullet proof vest and life insurance. Hahaha.

If your not from the country of the Philippines you will not understand what is the President aims to do, i think government will not ban cryptocurrencies because they are studying bitcoin because it may help overseas Filipino workers to get their money easily.

That would also mean that banks will lose some of their profit. The banks clearly won't like that. There is also a big possibility that they helped fund your president's campaign.

what the Presidents wants to do is to wipe all out the illegal drugs, its not hard because there are people that also have a high status in the government are the one's who are drug protectors. We know that in this world anything is possible with money that's what he is trying stop. we don't know if the one who is killing is the drug sindicates also they can pay some policeman to kill their people for them to not to talk, we can't just judge the President or anyone without any valid reasons.

Bitcoin does have its history connected with drugs and the dark markets. What would happen if your president discovers that it would be easier for drug dealers and terrorists to move their money with Bitcoin?

i think it can't ban bitcoin right now because the country of the Philippines needs source of money,

Bitcoin is the Philippines' only source of income? I do not believe that's true. What was your country's source of income before Bitcoin?

A quick search on the Philippines' economy. https://en.wikipedia.org/wiki/Economy_of_the_Philippines

You have agriculture, mining, offshoring & outsourcing and tourism among others. None of them need Bitcoin.

right now the Philippines has many debt because of the previous government regulation and officials, That's why  the country needs to get more investors in the Philippines.

Corruption is everywhere. But corruption in a 3rd world country is the worst.

[brylle34]

OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal. I heard your president is a malevolent, crazy maniac who likes to get poor and oppressed people killed for doing the lightest of drug offenses.

My suggestion for things you should buy with your Bitcoin. A bullet proof vest and life insurance. Hahaha.

If your not from the country of the Philippines you will not understand what is the President aims to do, i think government will not ban cryptocurrencies because they are studying bitcoin because it may help overseas Filipino workers to get their money easily.

what the Presidents wants to do is to wipe all out the illegal drugs, its not hard because there are people that also have a high status in the government are the one's who are drug protectors. We know that in this world anything is possible with money that's what he is trying stop. we don't know if the one who is killing is the drug sindicates also they can pay some policeman to kill their people for them to not to talk, we can't just judge the President or anyone without any valid reasons.

Bitcoin does have its history connected with drugs and the dark markets. What would happen if your president discovers that it would be easier for drug dealers and terrorists to move their money with Bitcoin?

i think it can't ban bitcoin right now because the country of the Philippines needs source of money,

right now the Philippines has many debt because of the previous government regulation and officials, That's why  the country needs to get more investors in the Philippines.

Corruption is everywhere. But corruption in a 3rd world country is the worst.

exactly that's why the country needs a president and government officials that is trustworthy and good leader, the main problem is almost everyone can be paid and i think the president of the Philippines is not one of them, if he can be paid the anti drug campaign will not happen. The country of the Philippines is a Democratic Country and every president will have 6 years length on their service. i hope everything goes well.

Bitcoin is the Philippines' only source of income? I do not believe that's true. What was your country's source of income before Bitcoin?

A quick search on the Philippines' economy. https://en.wikipedia.org/wiki/Economy_of_the_Philippines

You have agriculture, mining, offshoring & outsourcing and tourism among others. None of them need Bitcoin.

what i mean is bitcoin can be also the source of income and earn profit for the country, actually we don't know if the Bank of the Philippines are also investing on Bitcoin right now. Of course the government are doing and searching all the possible ways to earn profit for the country. The Country won't legalize Bitcoin if they will not get anything from it.

That would also mean that banks will lose some of their profit. The banks clearly won't like that. There is also a big possibility that they helped fund your president's campaign.

Banks are getting profit too on bitcoin, because they are connected to it so banks will not lose profit, actually they are earning from it because of the taxes when you convert it to fiat.

[Wind_FURY]

You are naive. There is no such thing as a politician who is not corrupt. They all are. The "war on drugs" is also a lost cause. The United States have been on it for 50 more or less years and yet they still haven't found a solution.

Your president, like all other presidents, is using his "anti-drug campaign" or other "campaigns" as a propaganda tool to manipulate all of you to further his agenda.

Plus what are you doing in Bitcoin if you trust politicians? Hahaha.

[hualangktsld841]

There will be some such people in every area. These cheaters are disgusting. But these people are just deceiving people who don't know much about encryption. The news from another point of view tells people that bitcoin is popular in Philippines. I think the news will be more, and we don't have to care too much about the swindlers.

[yanlap]

You can look at crypto-currencies both from positive and negative sides, be ready for it

Look at the Bitcoin; it has many uses in daily life. We need Bitcoin, Bitcoin do not need us that is why is the most valuable in the market. In order to look into the prevention of scams Google and Facebook both have banned all the Bitcoin related scams and just left with the real Bitcoin that is our need. So if you are looking for Bitcoin investment then simply use the Blockchain technology.

[bitbunnny]

Illegal and criminal activities happen everywhere and almost everything could be used for bad purposes and so it's with Bitcoin too, it's no exception. But you can put the blame on Bitcoin and tell that is more vulnerable than fiat money or like some say that is criminal currency.
There will always be people who will misuse everything they can for their own advantage, including Bitcoin, but you can't judge the whole community because of that.

[lukmandog]

There is nothing new about scammers. they exist all the time like any other criminals. people who understand investment will ignore this kind of news. unfortunately, common people who believe news media still won't understand bitcoin. perhaps politic take a part of it, but they can not stop technologies.

[brylle34]

You are naive. There is no such thing as a politician who is not corrupt. They all are. The "war on drugs" is also a lost cause. The United States have been on it for 50 more or less years and yet they still haven't found a solution.

Your president, like all other presidents, is using his "anti-drug campaign" or other "campaigns" as a propaganda tool to manipulate all of you to further his agenda.

Plus what are you doing in Bitcoin if you trust politicians? Hahaha.

at least they are doing something unlike you, your just criticizing everything that you see, they are on that position because they have purpose, so what you are saying is that you don't believe in your countries government system and every government system in the world??, did i say i trust those politicians? This is the computer age and this is my job why won't i be here???  

[Wind_FURY]

You are naive. There is no such thing as a politician who is not corrupt. They all are. The "war on drugs" is also a lost cause. The United States have been on it for 50 more or less years and yet they still haven't found a solution.

Your president, like all other presidents, is using his "anti-drug campaign" or other "campaigns" as a propaganda tool to manipulate all of you to further his agenda.

Plus what are you doing in Bitcoin if you trust politicians? Hahaha.

at least they are doing something unlike you, your just criticizing everything that you see, they are on that position because they have purpose,

That's what they want you to think. But the truth is they are not doing anything for you. Look around you, nothing will change.

I find it perplexing that the Bitcoin community and Libertarianism, which has been a popular political movement around here, not taught you anything. Maybe you don't care about what Bitcoin stands for.

so what you are saying is that you don't believe in your countries government system and every government system in the world??

I believe it is better to open your eyes than blindly believing what your goverment is feeding you. Your president is not a good person. If he was, he won't be a politician. Hahaha.

, did i say i trust politicians? This is the computer age and this is my job why won't i be here???  

What job?

what i mean is bitcoin can be also the source of income and earn profit for the country, actually we don't know if the Bank of the Philippines are also investing on Bitcoin right now. Of course the government are doing and searching all the possible ways to earn profit for the country. The Country won't legalize Bitcoin if they will not get anything from it.

What would happen is politicians would tax Bitcoin capital gains for your government to earn profit.

Banks are getting profit too on bitcoin, because they are connected to it so banks will not lose profit, actually they are earning from it because of the taxes when you convert it to fiat.

But why aren't they doing it today? If they start using Bitcoin to move money around then what would happen to Swift, and would there be a need to convert to fiat?