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.htmlWell if we are talking about the reputation that bitcoin have in the country of Philippines, we can say that it has a poor one. Actually there are televised news and information in their country that talks about the legality of bitcoin. Since they are open to these kinds of transaction, people make evil plans and etc. Based on some of the news heard, there are companies that looking for people that will invest in them through bitcoin and promised that millions will comeback in their hand in the future. Since the price of bitcoin is not at good state, then they are not yet able to give their promised, that makes the people suffer and they tend to say that it was a scam.