Reputation of Bitcoin in the Philippines.

[Paka1]

Having those kind of news will surely have an impact to everyone's perspective about bitcoin,  especially to Filipinos who seen the news. However, even if those kind of issues appeared I believe people will still trust bitcoin,  we just have to open their mind that not all investments in bitcoin is scam. Only if they have the right access and right information on how to use bitcoin, they won't be fooled by the scammers.Bitcoin is a real deal to invest with.

[kidoseagle0312]

Media influence is a huge deal, with these kind of news, new investors from the Philippines would be less likely to emerge. But for what I have encountered here in the forum the PH community for cryptocurrency and bitcoin is a lot more flexible. People seems to be open minded about bitcoin and are ready to devote time and effort unlike what happened in pyramiding scams. Also mining is a thing in the PH, people are also mining there and it seems to be popular. Contrary to the media, bitcoin in the PH has been receiving good light online.

[paulo29]

I don't think news aired in television about bitcoin does not made a huge impact to all the bitcoin users,holders and enthusiast in the Philippines. I have watched that news and it seems that the bitcoin being tag as scam is different in what i believe in and what i have joined in, it is definitely not legit and trusted bitcoin trading. Besides, bitcoin enthusiast in the Philippines make the necessary study and research about digital currencies.

[bungutko]

I think there is a slight impact with regards to the issue and what I understand is that the people having no depth knowledge of what bitcoin is could generalized that bitcoin is considered a scam. But for those people who understood of what bitcoin is and how it can make them profit, definitely they would have to disagree on the negative side that was aired on the news about that particular scam incident in the Philippines. Bitcoin is not scam, it's the people who had used such currency to make scam activity and these people should be prosecuted with the right penalty they deserve.

[aioc]

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

Those who believe in this are ignorant on how Bitcoin works, media people in the Philippines are somewhat ignorant about blockchain, these scammers only use Bitcoin, and the Blockchain technology has nothing to do with this, it's the scammer's fault it has nothing to do with Bitcoin.

[laryillary]

The Central Bank of the Philippines (Bankgko Sentral ng Pilipinas), then the BSP, which officially regulates the local Bitcoin exchanges, as the money transfer companies, has recognized Bitcoin as the legal method of payment.

[ranman09]

The Central Bank of the Philippines (Bankgko Sentral ng Pilipinas), then the BSP, which officially regulates the local Bitcoin exchanges, as the money transfer companies, has recognized Bitcoin as the legal method of payment.

You are right, and let's also thank Coins.ph for that. Coins.ph really tries mass adoption it is now accepted in beep mrt stations (popular train station in the Philippines).

[cryptokath19]

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

I think No, Because bitcoin is nothing to do for any scam that happened. Those doing scam are the people who used the bitcoin as a currency payment for their investment. We need to further explain the advantages and importance of bitcoin especially who wants to know about Bitcoin so that they will not think a negative that they heard on the news. Good explanation is the key for increasing the bitcoin investors.

[Ms.cumshot]

I feel bad for the Filipino people who heard the news and had no idea what bitcoin is. They missed an opportunity of their lifetime just because some random couple scammed 50 people and most of the people now think that bitcoin is a new scam. On the other hand I think the people in the Philippines are not as big that they will greatly affect the market. They are born-study-work type people and investments are not in their culture unlike that Chinese people. I just feel bad for the people who has misunderstood bitcoin and will never trust it again.

[Hairpin]

I’ve worked with Filipinos and they’re really smart, savvy and opportunistic. I’m sure they’ll thrive in crypto world.

[Kotone]

I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?

I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.

http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

Living in the Philippines and as a third world country, I think that us Filipinos have been really trying to experiment and not afraid to try new things to jumpstart our financial terms here in the country. And while bitcoin has been in a new high there would always be people who would capitalize on it and use it for their own nefarious schemes, but bitcoin here hasn’t really wavered thoush some might have jumped to ripple and ethereum the following here is still quite sizeable

[Cj29]

Will the reputation of bitcoin in the philippines are so bad. Because there lot of people use bitcoin to scam people thats why filipinos scared bitcoin. Even in ico in the philippines so bad.

[veejay2716]

All we have to do now is be aware in our investment, before putting money in any project be sure that it is good and having legal documents to proof that they are legal, always protect our money before making an investment, have more research.

[Piggymonster]

That bad news does damage the reputation of bitcoin, because of that greedy couple that uses bitcoin in their illegal activities. It could hinder the mass adoption of bitcoin in the Philippines. But i think, when we can prove to them that bitcoin is not a scam and it is the future of money, then i think it will change their outlook. We should keep holding on, bitcoin will rule the world.

[Reid]

It sounds so bad when it is headlined as Bitcoin Scam. Why it doesnt happen with fiat?

They should change on how they make titles like that. Bitcoin is a currency so it will be regular if it will be used to different scams or hyips.
This kind of errors makes people believe when the bitcoin word is heard they will already disagree.

[anisoptera]

To be honest, the phillipine's community is not large, specially if we talk about cryptos, so for me, there is nothing to be worried about.
And this was a specific case, there is nothing special with it.

[goldcoinminer]

To be honest, the phillipine's community is not large, specially if we talk about cryptos, so for me, there is nothing to be worried about.
And this was a specific case, there is nothing special with it.

Yes.There are still few of the population who have known bitcoin well and those for sure were not totally affected by the reported news.Bitcoin is legit and it's never a scam for us.But for those who have heard bitcoin for the first time will make a negative impact on bitcoin thinking it would not bring any good to the economy of the Philippines.

[maxreish]

bitcoin in Philippines I haven't  heard bad news coming directly from the philippines government about it, so far so good in my knowing the race of bitcoin in the philippines, as far as bitcoin concern is continues to grow using it in the Philippines .

[MNtrio]

It will play a huge impact on the growth of bitcoin in the Philippines. For those old players of bitcoin they will not believe it and will just laugh at the news since the news is delivered in a way that makes bitcoin like an investment scam itself. But for those who have no idea how bitcoin works they will no longer accept bitcoin anymore since they will think that it is a scam investment before you can explain it to them.

Maybe some of the filipino will not trust bitcoin anymore just because of that news but not all filipino wont trust. As I observed a lot of filipino are using bitcoin as another source of income and some of them had already changed their lives by the help of bitcoin.

[bayu7adi]

very many bad reputations from countries in the world
but I do not believe it, I still consider the shortcomings and advantages of BTC, so still loyal to BTC, because it is decentralized
and, for the philippines, good luck and can get the same fair deal