Will bitcoin be banned on Philippines?

[Bohxz M4p4gm4h4l25]

many investors do not understand bitcoin and are eventually fooled into investing on behalf of bitcoin. whereas the investment is a ponzi scheme that could harm their participants. so it's also our duty to tell many people what bitcoin and blockchain are.

That's true, we should not believe instant money cause it doesnt exist before you can have that huge amount of money you should invest time and effort before you can come up with that, I think the fact that nowadays scammers used to include Bitcoin in their fraud negativity surrounds this forum which contributes to the false accusations given by the people who didnt know this yet.

[Bitcoincole]

As far as i know there is no news coming from the Senate and to the President of the Philippines omitted for banning  bitcoin in the Philippines as a reaction resulting from over 900 millions filipino people being scammed from a the person allegedly bitcoin scammers.

[Glorypaasa]

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?

We will never predict will happened soon but inorder for Us to be aware and make us safe. We need to secure all tge moneys we gain from the bitcoin so that in the near future you wont be able to regret.  Our bank system in Philippines needs to be focus on that.

[Coleth]

With the news spreading for the past week about bitcoin scam, it will be possible that our country will ban it, but since there are people testifying that Bitcoin itself is a digital money and not a scam but those are groups of people using bitcoin to scam. And since there is a local digital wallet that exchange peso to bitcoin and vise versa, i think it will still remain in the country.

[lokanot0]

Bitcoin is not yet regularize is the Philippines. If it do get banned it would not even effect a tiny bit of the Philippines' economy. But if it does not get banned, then maybe it can help to increase our economic growth.

[Marrionbitcoin]

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?

We cannot say that Bitcoin will ban in the Philippines but for me Bitcoin should not be banned because many people will be benefited from Bitcoin as they use it for trading in digital currency and with that, they can earn money for their living. Bitcoin can be used in so many ways like payment of utility bills thru online that has no charge and hassle free. Bitcoin is really a game changer that can make our lives better and easier.

[fauzan Ichsan]

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?

We will never predict will happened soon but inorder for Us to be aware and make us safe. We need to secure all tge moneys we gain from the bitcoin so that in the near future you wont be able to regret.  Our bank system in Philippines needs to be focus on that.

right. we will never know when it happens, it is better to secure result of bitcoin into fiat currency, so you can invest other than btc, if btc will be banned in your country

[YuiAckerman]

I think it will as long as we have a law of how bitcoins will be enter in our country, as you can see many opportunities to grab this chance make our economy will be wealth, but I think those ponzi or scam just like that will be erased and government will giving an attention of the users in Philippines who are gained profit of it.

[kier010]

they got scammed because they don't know anything. what in their minds is just to get more profit. you see they got millions of money but still want more. when the offer is too good to be true then suspect that already. BSP allow bitcoin and they even regulated exchange sites like coins.ph and they are even considering to regulate bitcoin. it is really important to have a knowledge about cryptocurrency so you won't get scammed. profit in cryptocurrency is good but we must remember there is always a bad side and by having knowledge we can avoid it.

[Ryanpogi]

It does not matter, just because the ₱ 900M scam is banned immediately. many will be affected if bitcoin is banned in Philippines .. but it will not happen. because bitcoin is very strong in philippines ..

[hermae]

It does not matter, just because the ₱ 900M scam is banned immediately. many will be affected if bitcoin is banned in Philippines .. but it will not happen. because bitcoin is very strong in philippines ..

The news of that 900 million being scammed brought a lot of twists and turns for bitcoiners. Yes this is a big amount, but I dont think this would be the biggest reason that the Philippine government will ban bitcoin. This news can be the reason that the Philippine government will think of better ideas on how to protect the bitcoiners from transacting to bitcoin scammers. The Philippine government knows that no matter what they do, they could not restrict Filipinos from using or joining bitcoin, this country practices democracy. So instead of banning bitcoin, they may make laws or regulations to protect bitcoiners.

[Bagani]

I wish to not been reach that point. Goverment just need for attention from that kind of digital investment. Add some requirement to a company that make sure  that is a real project for the economy. More fipino will be affected if crypto banned in the philippines.  I guess some people their dont have any profeasional work to get income so pray to not that thing happen

[dobladi]

This would not be the main reason if the Philippine government decides to banned cryptocurrency. Few victims of scammed versus thousands of bitcoin beneficiaries in this country. Maybe to make it fair those who wants to invest in bitcoin should seek more advice from professional cryptocurrency person. It would be better for them to have a deeper understanding toward this system of digital money. Sometimes they said they are scammed by the person but actually the person was scammed by the ICO. I think that what the majority of all stories.

I agree with the statement. For a single case about bitcoin scam in the Philippines, it is not worthy enough for the government to ban bitcoin in the country. Yes, bad things happen, but in this case it would not be the sole reason why our government would ban bitcoin. 

On the other hand, banning bitcoin in the philippines may happen, but hopefully the government would not. Many citizens are already familiar with the bitcoin and have received benefits from it, and it would be disappointing if the local government would ban bitcoin.

[Betheng10]

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?

Bitcoin is used by individual persons to scam, if the government is not shallow minded they would think that individuals who used bitcoin are the ones to be punsihed not bitcoin.

There's a big possibility that bitcoin will be banned if people continues to use it unlawfully.

[Cinemo]

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 will never be banned if we continue give some positive comments about it . Some people are tend to say negatively issue or give their opinions about it because they really dont know the world of cryptocurrency.And we are are here being thankful to bitcoin.

[FIREBALL24]

This would not be the main reason if the Philippine government decides to banned cryptocurrency. Few victims of scammed versus thousands of bitcoin beneficiaries in this country. Maybe to make it fair those who wants to invest in bitcoin should seek more advice from professional cryptocurrency person. It would be better for them to have a deeper understanding toward this system of digital money. Sometimes they said they are scammed by the person but actually the person was scammed by the ICO. I think that what the majority of all stories.

I agree with this. Maybe some got scammed because they don't have a deeper insights about the system. If we will just have a spare time to understand or maybe just to think and realize what the situation is, then illegal actions will not be tolerated. Therefore, banning will be out of our way.

[Bitcoinjheta]

As of the moment, no report from the Philippine government that bitcoin will be banned. Many were victimized by scammers due to the fact that they directly give their trust to somebody they don't personally know and not because of bitcoin itself so I don't think bitcoin is liable to it. To avoid scammers, we should have enough product knowledge prior engaging into any business transactions especially if it involve bigger amount of money.

[Hirameki]

No. As of now, there are still no sign or a big issue that will make the government of the Philippines to banned bitcoin in the country, there are no reasons for the government to do it, as long as we the users of it just be responsible enough to earn bitcoin and money just like most people do, its just that we dont need to scam somebody just to earn some. I hope that this scamming issue will not get bigger in the PH.  So that the government wont see any holes for banning it.

[PRC_May]

Phillipines, i heard that, they would reinforce btc with might circulations over the coubtry what happened now? That was FUD or this one?

[King Koy]

There’s a chance because of that scam I hope it will not because many people rely their incomes in bitcoin.

I think the chanceis 0% because bitcoin is already accepted in many transactions in the Philippines, business men, companies, and many others are using it.So the two person who misused bitcoin is not enough reason to ban it. The community who are experiencing the good service of bitcoin is reasonable enough to let btc circulate in the Philippines.