Reputation of Bitcoin in the Philippines.

[Reid]

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.

Maybe that is because of lack of knowledge. If they do not really understand it then they wont even have a little trust with bitcoin.
I bet the Philippine Government would not even advertise this kind of currency. It will be a mess if they did and taxes that will come in will be low.

Old supporters will still continue and they could be the key into making people understand it, small or large group is a good addition to the community.

[GeorgiyBilyk]

I certainly got upset that the scams are more and more all over the world! it is bad of course that people are uneducated in the crypto world! because of this, fraudsters take advantage of the ignorance of the people. but I am sure that in a few years the situation will change all over the world and people will become more professionals in the crypto world! and they will not invest in bad projects! a bad experience is also an experience!

[Spontebob]

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.

News regarding Bitcoin scams will surely have a huge impact. What he/she said is right. Since the users of bitcoin know how it works, it won't affect us but for people who watched the news and have no idea how bitcoin works, will think that bitcoin is just scam and people who use it are criminals though it's not.

[posternat]

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

It impact a lot, people can start hating bitcoin and it can ruined the reputation in Philippines. Not only bitcoin but other crypto currency are also in danger. This is huge amount and for the safety Philippines government can ban bitcoin which can impact bitcoin growth. Just for other careless people stop believing in bitcoins plus newbies will never take part after hearing false news that bitcoin is a scam.

[Clark05]

Many filipino scammed their money because of the people who scammer. They have big effect not only in the philippines but also to the whole world but I hope it will not affect the price. We know bitcoin is trusted and legit . They use only bitcoin to illegal activity .

[capoklhok]

in fact there are still too many people who want to get the benefits and to be able to make good news for bitcoin at the present time, but it all depends on us how do we get better, Banks can help us in investing but they will give us the way or briefing and it is the best bank, it will. But if people without a business background are related or do not have a way of doing business, maybe they should think twice ...

[Finestream]

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

It impact a lot, people can start hating bitcoin and it can ruined the reputation in Philippines. Not only bitcoin but other crypto currency are also in danger. This is huge amount and for the safety Philippines government can ban bitcoin which can impact bitcoin growth. Just for other careless people stop believing in bitcoins plus newbies will never take part after hearing false news that bitcoin is a scam.

I can say that this negative news has only made an impact to those people who does not know bitcoin at all.But for those legends in bitcoin community,they will just treat it as an ordinary media pressure trying to pull down the price.But look at now,the news has gone so fast.People are starting to give interest to bitcoin since bitcoi is proven to be legit and safe.

[Erlinda Santiago]

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

reputation of philippines that they cn use bitcoin whenever they are or where they wnt to use it but some companies are banning btc

[Nylelyn]

There are people who exist to take advantage of situation to the extent that it can destroy something that is valuable along with the high potential to be an instrument to alleviate poor conditions. This is my reflection of the recent scam that came out. These people should learn how to value hard earned money. The negative  can be detrimental to new investors.

[panovnu]

This is  common problem in developing countries where people are less aware. Due to greed , they fall for these get rich quick schemes.

[Nodehype]

very strong community fillipinas has

[Rakabel619]

Hello. I think they will lower the bitcoin investments in the Philippines due to these happenings. there have been many pyramid type scams, and many people have lost money believing in the project and investing their money

[ene1980]

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.

There are much bigger scams and ponzi schemes run by fiat currencies and did it affect the flow of money.  People who are likely to use bitcoin or any form of cryptocurrency will use it if they find it useful as a mode of transaction or a store of value, scammers like try to take advantage of anything and it has nothing to do to destroy its reputation.

[Janpura]

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

It is a challenged to all of us who trust bitcoin that we should further strengthen the support and promotion of bitcoin, that any news we hear will not affect our faith.
maybe it affects a bit impact in the reputation of bitcoin in the Philippines .
It might reduce its investors and those who are new to the cryptoworld maybe it will take time to think and others does not continue.

[dimastegar]

Bitcoin's reputation in the Philippines may be down slightly because of it. But for the world-scale cryptocurrency I do not think it will affect, because the problem has a small scale in the Crypto world. And I am puzzled why anyone would make a pyramid system for their own benefit.

[Zabrielle]

Yeah i heard about it too. There are some of my friends asked me if bitcoin is really a scam. I said there are so many ways in earning of doing bitcoin. That scam you see in tv is literally an illegal. My work in bitcoin is different do i believe bitcoin is not a scam. People dont understand. They tend to judge but i still continue supporting bitcoin.

[Crypto vs Metals]

It's just sad that people from pyramiding scams use Bitcoin as their front. Luckily most people here in this forum are DYOR and we need to teach new investors on the right way. If you hear guaranteed 1% a day you should stay away from it. The "hype over Bitcoin makes it easy for scammers to lure unwitting investors".

[CuteBaby123]

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

This is just an isolated case and only aired once. After that, people already forget about that news and continue to invest and transact in bitcoin. As I can see it, it is not the fault of Bitcoin but the people who foolishly give their money to a person whom they barely know.

[Monta3002]

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

It will only affect those new to bitcoin because they don't even know what is the real thing behind bitcoin or they have lack of knowledge. Other investors or experts will not be affected because they are professionals

[fiulpro]

The people who knows nothing about Bitcoins will now have a prejudiced view over it.. the strong investors in the market really understand that these kind of frauds happens with fiat too...
The thing is how government will percieve it and how the future potential investors will see it is the real deal...it. Will offcourse have a negative impact on them.
Also the people in the middle age group and the old ones will have the biggest impact in my view since they are not that techy .