Reputation of Bitcoin in the Philippines.

[budismile]

This is bad news for bitcoin, I certainly think bitcoin will fall in the country of the Philippines. many people will be consumed the news and certainly many who will not believe anymore with bitcoin. but one country alone will not be enough to shake the bitcoin because bitcoin is worldwide.

[jayco25]

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

Actually a lot of Filipino know that bitcoin is a big Scam they dont know that Scammers only use bitcoin to scam people. A lot of Pyraming scheme encouraging Filipino people to join. Most of them are newbie in the world of crypto currencies.





#Support Vanig

[DevilBats]

Bitcoin becomes a scam for other Filipinos.They don't have enough knowledge about bitcoin that makes them easily to believed that bitcoin is scam on which is not true.That's a cause of spreading a lot of pyramiding there so let us teach them how bitcoin works.

[elbimbo012]

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

For those who doesn't know what bitcoin is, there is a huge negative impact they thought bitcoin is purely scam but for those who are bitcoin literate this news has no negative impact cause we know what and how bitcoin should be used. only those who knows nothing about bitcoin arw prone to scam

[teklang01]

For those people who don't know what is bitcoin, maybe it has negative impact on them and thinking it is a scam but for those people like me who really knows bitcoin, it has no impact at all. I think we need more promotion here, spreading awareness to Filipinos that bitcoin is great investment that can have positive impact in our economy.

[supergorg27]

That is the problem created by someone who just wanted to earned in just a click, many users are affected of they have done, so I hope those people who did bad for their fellowmen should stop this and try to work hard for their own and avoid using people just for their own good.

[qiwoman2]

Unfortunately it's short sited idiots like these who think they are clever to steal from others that makes mass adoption of Bitcoin and cryptocurrencies harder and harder to happen. If everyone behaved better in Crypto, we would by now have over 2 trillion marketcap but because our community is riddled with hackers, scammers and thieves, it's very hard to get the message across to new people to adopt Bitcoin and Altcoins. Security is the no 1 problem and people to trust in this community.

[fishball]

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

Although there are cases regarding bitcoin scams here in the Philippines, I think there are much more intelligent ones who can tell whether it is a fraud or not. But still, bitcoin here still growing and helping people.

[Swanh]

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

Whats makes it very wrong is they invested on a person and not in a legit company or a legit sites where we can buy bitcoins.Knowlegeable person has the ability to ignore this kind of situation because we know how bitcoin really works.Its necessary to know where the invested money will be going because ponzi schemes can be detected if investors truly analyzing what they've been into.Scammers nowadays become widely spreaded because of greed of money.That is why people should know the risk involved if we want to be a part of this cryptocurrency community.

[rawr1620]

Bitcoin players are huge in the Philippines and some are involved in even iin mining and using mining rigs. But earning bitcoin through posting and  other method is still unreliable by the  population for the  reason of scamming. People are afraid of investing too much because  of unreliable  people telling how  to earn bitcoin  and then scamming them  for their money. But  if people  were to introduce  earning bitcoin that  would encourage real investing and marketing strategy to earn bitcoin it would be a great development  and good pr to the Philippines. Let other people do good things for other people by showing it yourselves let everyone know that bitcoin is not just a scam.

[Jamjamz30]

In the Philippines, these kinds of schemes are always blatantly done, people are now slowly realizing that these schemes are crap that's why many are already avoiding it and mocking it even. On the other hand Bitcoin on the Philippines is still in green, people that work in Bitcoin for a long time in the PH are just shrugging this off. People are wise and would do research if they can and it would be better if the investors we had are wise and would know better rather than the surface of this news.

[Choy13]

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.

Well said. That's true, the old ones who uses bitcoin will not believe in this news but expect that other people who doesn't use bitcoin will against for the bitcoin and bitcoin can not be legal in the Philippines because they will think of it that it is only a scam. It will remain in their head that bitcoin is not good for the country.

[Cotton Candy]

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.

They have been widely changed through the years because i think it was last tear that the bsp have a conflict about the issue of bitcoins because they are saying that bitcoins is not a reliable source of putting our money into because thet have no one source means no one to blame when we lise money. But now they are been slowly being understand by the people in and put of the government and they are being accepted by the society but still not all.of them.because of some investment scam tbat uses its name.

[Happydd]

The Philippine Central Bank, Bangko Sentral Pilipinas (BSP) and regulators of the country are planning to create digital money regulations. Typically referred to as bitcoin. This week, BSP Deputy Governor Chuchi Fonacier said the bank is working with the Securities and Exchange Commission to create legal guidelines for Philippine businesses and individuals. Currency exchange math.

[dgross0818]

The Central Bank of the Philippines (Bankgko Sentral ng Pilipinas), then the BSP, which regulates both the local Bitcoin Exchange and the money transfer companies, has recognized Bitcoin as a legitimate method of payment.

[Piranha1]

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 does not have a negative impact on bitcoin in the Philippines because the scam itself does not involve bitcoin.

[bigmaster23]

Yeah apparently this news was true, but those who scammed 50 people surely have a manipulative talk they deceive their victim in a way to make million peso in just a day, sadly said on this part bitcoin would literally not grow in the Philippines the person who will get introduced to bitcoin will think of it as a scam before even talk to the main part of what good side bitcoin has they will turn down every person have a good motive behind introducing bitcoin to the Philippines, that's being said the only persons who will still riding the boat will be the old player of this game.

[Griegura]

BSP deputy director Melhor Plubasan said that Bitcoin and other crypto currencies are both financial and investment instruments that are very viable and whose risks are manageable. "If you need something fast, almost real-time and convenient, then crypto-currencies such as Bitcoin have the advantage of using"

[mackenzie5]

    There is a huge growth and development in Bitcoin at Philippines most of the Filipino's blindly believe in Bitcoin and making profit. However the Filipino's are avoiding fiat currency for purchasing durable goods ,rent.food etc and there are a large number of vendors and also online merchants that accepts Bitcoin directly they can even settle utility bills  directly with Bitcoin. The Filipinos are good in gaining more skills in modern technology and they  expertise to acquire more knowledge in internet area.

[zhea]

Lot of Filipinos are engage with bitcoin and its increasing after the news came out. For me it wont effect those who really know what crypto world about, in fact its still the same and still filipinos continue to believe bitcoin, that it helps people lives vecome better and a greater opportunity of earning well is what makes us continue believing bitcoin. Those being victimize by scammers its a lesson for them not to believe right aways and always make sure in everything before giving their money to somebody.