Reputation of Bitcoin in the Philippines.

[Liternyy]

The chief regulator in the Philippines announced: now we are moving to consider ICO as securities, and in this case we will apply the Securities Law Code. Appropriate legalization takes place after careful consideration and monitoring of the situation by the central bank.

[aryaadikariyansyahsuwarto]

that's one of the crimes that can degrade the reputation of bitcoin, which is why many countries have banned bitcoin .. because its use is misused.

[Hmei777]

I think this is a bad impact for the development of bitcoin in the Philippines because people are also afraid to invest because of it, it also affects the country closest because this event is broadcast on national television. but this will not last long if people have a broad knowledge of bitcoin development in other countries and they will start believing again on bitcoin, and be more careful if they are going to invest.

[aljun107]

That news would probably affect the people here in the Philippines. Since lots of us are still exploring to bitcoin, it would really affect many of us and could also cause to not invest in bitcoin to some.

[malbano2099]

the news that aired here in Philippines have huge effects to bitcoin industry. Yes, users will going to decrease it rate and i know this scenario will be caution to everyone on risking in bitcoin world; they might be scared because of this kind of news. and i know that negativity about bitcoin will always put in their minds.

[boty]

if the reputation of bitcoin in the filipino is very bad and makes the price to go down very much should you be able to take advantage to try to buy when the price is below or when it is cheap.

[emezh10]

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?

it has 0 effect.

it is not the first time that some idiot(s) got scammed by some scumbags on the internet. it is always because they are greedy idiots around. and because this is not a new thing, people who matter most already know the situation and know what bitcoin is. they don't care that some idiots got scammed using bitcoin. they know better than be affected by it.

Scam that is related to bitcoin does not affect the system of Bitcoin. Becasue the reason why people get to this kind of situation is by dealing with wrong decision and Bitcoin is out of the reason why they have some bad decision in life. Bitcoin is a currency in the form of crypto which could probably gives people a chance to earn and to gain profit in many countries including developing countries like Philippines.

[kwarto]

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 dont think it has a huge impact to filipino people. the new comer will be somewhat afraid to BTC but on the other hand it draws people curiosity about btc and its associated system in the net... if a hundred people will attact btc and study its system i think almost half of it will get involve and invest to btc.

[Ocha Bacoh]

Philippines Bitcoin payment solution provider Bitmaker, recently introduced its first Bitcoin ATM in the country

[mylyn2327]

I don't think it won't affect especially those filipino people who's into bitcoin already because they know it's not Bitcoin itself but those couple who just used bitcoin as instrument to scam many people. And they know bitcoin  cannot do any harm with them. This kind of news can be served as warning to everyone and I believe because of this many filipinos became interested to know bitcoin more.

[znakistu]

Perhaps looking at his successful neighbor — Japan, the Philippines seems to be ready to welcome the cryptocurrency revolution in the archipelago

[Frozenhcl]

This problem is common with all developing countries. People there are not much aware of online earning methods and there are less jobs, so they fall for these as well.

[lotakasa]

Some newcomers will be affected by such bitcoin news

[Crypto vs Metals]

Well, in some provinces they haven't even heard the term Bitcoin.
But in some more populated areas, Bitcoin has some bad reputation thanks to those no good Networking Scammers putting Crypto/Bitcoin into a badlight.
We must be vigilant and always expose those scammers before they can even use Bitcoin into their schemes. DYOR and help others and educate them.

[vivekyuvan]

First let me start by saying that I’m not an expert at cryptocurrency or Bitcoin BUT I want to learn as much as I can about it. The best way for me to learn is by doing (I’m not really the academic type) so I’ll be sharing with you guys everything that I learn about Bitcoin, blockchain technology, and cryptocurrency in this new section on Unbox called Bitcoin Philippines.

For this inaugural post I’ll kick things off by sharing what my Bitcoin strategy is and then I’ll share how I’m buying Bitcoin in the Philippines.

[jerjer]

The reputation bitcoin in the Philippines seems not good because of these scammers scammed huge amount of money in form of bitcoin. Some of the filipinos are just closed mined to bitcoin when they heard that bitcoin is a sort of scam to their friends who dont even understand what is blockchain. One of my friend PM me on my fb messenger, said that bitcoin is a scam , because his friends were scammed. I answered, that bitcoin is not a scam, because its just like our physical money. I told her that , before bitcoin was made, is there no scam happened? Yes there is but when bitcoin arrives, the scam much even worst because these scammers offering to ride in on their trading operations and pretending to be an expert trader and promised a huge profit in return when invest bitcoin.  They took the advantage of these uneducated to blockchain filipinos. As long as they can still fooled a lot of filipinos, these scammers will never stop.

[Bitcoinnumberone]

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

So many filipino people invest in bitcoin, joining campaigns, mining bitcoin. Even if they're High school student they using bitcoin to have an extra income. I think the negative impact will only affect for the begginers in bitcoin, Many filipino still believe and trust bitcoin besides when you invest on something that you want to gain you should also know how to risk and we know that the trader and investors on bitcoin in Philippines will never affect the issue or scammers for the success of bitcoin in the Philippines.

[Serious475]

I think that news will not affect the one who are trusting Bitcoin, because they already experienced and has a knowledge on what Bitcoin is. This news will affect those who does not have any knowledge on Bitcoin at all. Filipinos are really updated on what is happening in the country because of media. If media will show to the Filipinos the bad side in Bitcoin, I guess it will destroy its reputation on the people who doesn't know Bitcoin in the Philippines.

[Singbatak]

That news would probably affect the people here in the Philippines. Since lots of us are still exploring to bitcoin, it would really affect many of us and could also cause to not invest in bitcoin to some.

True, more and more people see negative about Bitcoin because of that happens, and they think that bitcoin is a scam.
This is because also on how the reporter introduce the Bitcoin to the viewers, they said Bitcoin is scam. That is why many people thinks that it is a real scam. So I am better to read in the site relate in Bitcoin than to listen in media.

[wallstone]

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

There is an spectrum of opinions here in Philippines about cryptocurrency. Many still got that misconception of bitcoin and its "relation" to scams. There will always sort of people that takes the name of bitcoin for granted and ruin it. I wish this kind of scams will stop because it ruins the opportunity of cryptos to expand in this country. What can we all do is to make them understand what bitcoin really is and how far it is from a scam.