Will bitcoin be banned on Philippines?

[ghost07]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

they only use the name of bitcoin in scamming but government will never do some thing that bitcoin is banned in our country. but for me it will never happen if they dont invest to that newg. me im so curious to that company and some of my friends want to go in this investment team. now they thank me in giving a big reason why we dont need to invest to that company.

[shadyrifles]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

It’s the true Philippines is getting stricter day by day on regulations due to recent scams and hacking.On this week Philippines Security and Exchange Commission (SEC) regulators have already issued a warning to cloud mining participants stating that the regulatory agencies believe these types on contract should define as ‘security’, and the business model should be registered with Security and Exchange Commission (SEC)

[Creating N Action]

So many Filipinos are cryptocurrency-assisted and not all people in the Philippines have scams. So, bitcoin can not be ban on the Philippines. I know that they are not only the scammer in the philippines but more and they might catch their wrongdoing. Hopefully, Filipinos don't be scammers, since Filipinos are known as hardworking and good at work. But be especially careful when it comes to transactions.

[agentx44]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

Hopefully no, because there are a lot of people in the Philippines invest in bitcoin and cryptocurrencies and there are now earning a thousands of money that is why a lot of people are now more interested to invest and join bitcoin.  I think the government here in the Philippines would like to put tax in bitcoin because they heard that some people are earning money for free. Hoping that it is not true because i will not earn the money as big as today.

[laravuemaster]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

I think that the government of the philippines does not really care about cryptocurrency but those who are being scammed has their own risk of investing so there's no problem in that situation because every trader in the market has their own risk.

[the13thsymphony]

I think it is just an isolated case, but still there are people that just plotting new ways to scam other specially that most of the people in 3rd world countries like the Philippines where most of the people are not aware or do not believe what bitcoin is. However this incident may not trigger a ban in the Philippines since it is just one of the many alleged scams in the past. Non the less this just means that people should dig deep on what they where they want to invest specially in the crypto industry where the market is very volatile.

[felicity06]

If it happened in Philippines that will create a problem...  Scam is everywhere we cant run for it but we can avoid it if we want...  If Philippines banned Bitcoin it will never solve the problem about scam...  Because as what i said before it is everywhere the only things we need to do is to be careful always...

[ratnawide]

philippines never forbid bitcoin, that's all I know, they will only fix the regulation of the use of bitcoin in their country so as not to harm their citizens

[bering]

most people currently in the particular countries had utilize the popularity of bitcoin with made investment offers based on cryptocurrency technology although most of them are fake but the victim already trust them because they offering daily profit or similar of it and besides on philippines it was happened too in my country that people got scammed by this and i think this is bad for cryptocurrency because the government will have reasons to banned crypto

[Btcnaivie]

Philippines does not banned bitcoin but they Due to recent developments, the Philippine Central Bank is reviewing the regulatory standards for Bitcoin, which will have specific standards and regulations to make bitcoin stable and safe. Protect the rights of their citizens to participate in bitcoin

Definitely I agree with you! Philippines will not banned bitcoin, Bangko Central of Philippines already review on how bitcoin works in the internet world. Bitcoin is accepted here in the Philippines at the website coins.pH. Some of our store also accepted bitcoin currency. But government didn't encourage to used bitcoin since it still under study.

[liivii]

The government only warned their people in investing in bitcoin, they've said invest only the amount you afford to lose and that's all. So I think government will not ban bitcoin instead they are just worried about the people who want to invest on it. On the other hand government never advertise bitcoin in their news and not focusing on it very much because of only one incident. But expect the unexpected because bitcoin is getting more popular these days and lot of money are involved here also there are influential people who can control the movement of it.

[i_iz_vins]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

I think it is not bitcoin's fault so there is no reason to ban it here in the Philippines. First of all, it is the human that is doing the scams not the bitcoin itself so bitcoin has no responsibility of such acts. I think our government knows what bitcoin really is and they even warned us about the harm of it. Bitcoin is just a currency so no reason to ban it, it is like you are saying that we should ban dollars because it is used in scams.Remember it is the people that use bitcoin irresponsibly so bitcoin should not be blamed for such actions.

[raidarksword]

If we based on the incident happened recently i see no ground that our government will ban bitcoin just because of that. Bitcoin was just the victim here, they used bitcoin as their alibi to build a scheme to their personal motives to scam people who are not really knew the true natures of bitcoin. Banning is never the solution to prevent scam like what happened, all we need is education about bitcoin technology and spread the good benefits of having involved in bitcoin cryptocurrency.

[Tapyaks72]

If we based on the incident happened recently i see no ground that our government will ban bitcoin just because of that. Bitcoin was just the victim here, they used bitcoin as their alibi to build a scheme to their personal motives to scam people who are not really knew the true natures of bitcoin. Banning is never the solution to prevent scam like what happened, all we need is education about bitcoin technology and spread the good benefits of having involved in bitcoin cryptocurrency.

Even in fiat currency this scam activities always happens, Yeah bitcoin is just the of the victim ot these scam, the used bitcoin as the medium their scamming activities, if Filipinos are well informed how to use bitcoins this criminal activity surely not be successful.

[Etoasiatsxxx]

I think that's right for them, if they have no confidence in bitcoin
But before they banned the bitcoin they had enough reason for it because they might be able to help them because bitcoin is trustworthy and not like other websites that you are scammer. But it's in them

[Gumpfire]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

I believe no. Since bitcoin was shown in the television in the show of "Ted Failon" many of us think bitcoin will be banned in Philippines or will be put a tax because as it shows it said many people was scammed because of bitcoin, but the reason is they were scam because they have lack of knowledge about bitcoin, they were entering scam sites. The truth is many people in the Philippines was helped by bitcoin to earn money and to be successful, so there are low chances that it will be banned.

[batang_bitcoin]

Will bitcoin be banned because of that?

No. Philippine peso should also be banned as it's being used by criminals and scammers. Think of it, that currency is well regulated by the central bank while bitcoin isn't.

But government didn't encourage to used bitcoin since it still under study.

They are giving warnings that it's not for investors who are lack of knowledge about bitcoin. They are emphasizing the volatility and they know how the market plays and they really know that it's profitable.

[webdevmastery]

Over 900 Million  pesos worth of bitcoins been scammed.

Filipino couple amasses at least P900M in alleged Bitcoin scam.
MANILA, Philippines (UPDATED) – Police have nabbed a couple promising easy wealth through popular cryptocurrency Bitcoin, Philippine National Police (PNP) chief Director General Ronald dela Rosa announced on Tuesday, April 10.
Arnel and Leonady Ordonio were nabbed by PNP Criminal Investigation and Detection Group (CIDG) operatives – the police division in charge of high-stakes and high-profile crimes – in Vigan City last April 4 through an entrapment operation.

The scam, Obusan said, is structured like a pyramid scheme but with electronic money.

The Ordonios apparently had middlemen who lured people to invest. They promised to pay victims with their earnings every 15 days.

Fueled by the worldwide Bitcoin hype, more and more people were baited by the Ordonio couple's promises.

The complaints started piling in when investors lost contact with the Ordonios.
Whats happened  next?
Around 50 angry victims stormed to Camp Crame on Tuesday, asking the couple if they could still get back the money they had hoped would grow.

Will bitcoin be banned because of that?

There is a huge chance for bitcoins to be banned on the philippines since there are illegal activities regarding on the pyramid scam and the suspects are already caught but i hope that they will not ban cryptocurrency so everyone can enjoy the wealth that is being distributed in our society.

[jostorres]

I wish it can't happen. If it is, our life become incomplete. All us know that 30% of our income is from Bitcoin. But I've never heard that Bitcoin will be ban in the Philippines, so I hope it will not happen.

Its possible but it will not happen because I know Philippine government will just regulate this thing on time so no more people will be a victim of a investment scheme. Let's support bitcoin because this is a great source of income for those who don't have a regular job.

Let’s just consider the worse scenario because it is essential to face the fears in order to conquer them. Let’s just say Philippines bans bitcoin all of a sudden, then what? Is it going to kill bitcoin? Why don’t people look at more developed countries like Japan that truly values bitcoin?All those countries that go against bitcoin actually ae desperate to control this digital asset.

[1C6fV5DtakfKANLJ8GUV7hCaA]

No. Bitcoin wasn't the one that scammed the people. It was the couple. People should be more careful when giving out money investing on stuff. That's what happens when greed takes over. Bitcoin won't be banned as the government has no power over it.