Will bitcoin be banned on Philippines?

[Theo222]

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

yeah that scam make people very dissappointed to bitcoin or cryptocurrency. almost 1billion pesos was scam by newg investment corporation that mr arnel is the owner or the one who create that scam. now bitcoin has bad history in the philippines and there will be chance for banning it.

[bakkang]

There would be a big chance that Philippines will banned bitcoin because it has used by criminals on corrupting just like what happened. So I'm hoping that everyone of us is being aware with this different cryptos to avoid this kind of crime and of course people need to be careful especially when investing in cryptos.

[Muzika]

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?

As of now here in Philippines bitcoin is not totally legal nor illegal the central bank also in neutral position when it talks to cryptocurrencies, and i dont think if having that issue will make the crypto banned. Bsp doesnt give lack of information to the public when it comes to crytocurrency investment.

[7Dyoknga5]

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?

if Philippines won't educate their citizens, most of them would fall as a victim and surely bitcoin will be banned for the purposec of protecting majority of the people.

I just think individuals who used bitcoin for personal gain should be penalize instead of banning bitcoin.

[jmigdlc99]

There is absolutely no way you can ban bitcoin unless you shutdown the entire internet. If you read more news online you will find that the 900M PHP scam in the philippies is nothing compared to what other hackers/scammers have done in other countries.

If you are living in the Philippines and are a bitcoin investor i wouldn't be worried at all. Buy more while you can get it cheap!

[soenaderecho10]

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?

if Philippines won't educate their citizens, most of them would fall as a victim and surely bitcoin will be banned for the purposec of protecting majority of the people.

I just think individuals who used bitcoin for personal gain should be penalize instead of banning bitcoin.

I think theres a big chance banned bitcoin in the philipines because bitcoin is a new currency and the government did not legalize the bitcoin in the philipines but if the bitcoin give a tax on government theres a chance bitcoin will not banned on philipines.i think the reason if the bitcoin will banned in the philipines because of tax of bitcoin.

[Magiklair]

This is unlikely to happen. The Philippine Central Bank is considering the regulatory standards for Bitcoin with the aim to protect the rights of people
As for me bitcoin will not be banned in Philippines

[boblets243]

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 will not be the basis of banning Bitcoin in Philippines. It is clear that these people use Bitcoin to collect money. This is the reason the Philippine government are doing the review to impose necessary regulations to reduce such incidents like this. Moreover, this is to ensure that Bitcoin will not be used for illegal transaction. It is also the responsibility of the investors to be keen with the details before making an investment. So this incident will serve as lesson to all of us.

[CookieGums]

i hope not because if this happens. there is a huge possibility that this will affect the crypto world.

there must be a action in the government but because bitcoin is not legal in philippines, there is no such a thing like action.

i am one also be affected because where do i will use my bitcoin. there is no way that i can exchange my bitcoin for fiat if they banned bitcoin.

[jetjet]

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... in opposite it open bitcoin portal to the people of the philippines to know bitcoin and cryptocurrency as a whole... more and more people were talking the crypto market. they are interested to know more about this system

[carlisle1]

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.

Bitcoin will never banned just because of this scheme since its obvious that these victims are greed thats why the scammer penetrated towards theyre greediness,imagine that they trust the promise of big interest just by giving the money on the scammer,this is a clear issue of pyramiding and not a cryptocurrency matters

[cleygaux]

There could be a more strict regulations that may released but banning bitcoin because of this is not acceptable to bitcoin users all over the country bitcoin just used to collect money and have nothing to do with this scam activities therefore bitcoin is not a problem. 

[Lyne1982]

Even there is a news about the bitcoin scammed here in our country, it is still bitcoin not yet banned since Bitcoin itself has no intention on it. It will depends on the people who are doing harm to other people that were not really aware on those legit provider of bitcoin. Because of the news, many people should beware and always think before to invest so that they will avoid those illegal provider.

[lubot sa yawa]

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?

This an isolated cases but if they banned the bitcoin in the Philippines, I think this is not the reason besides there is a report that they are planning to have regulation about cryptocurrency.

[xSkylarx]

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 is not a reason enough for the Philippines to ban bitcoin for as we know, Philippines is starting to accept and adopt bitcoin as a digital currency. There are companies who accepts and have bitcoin as their mode of payment. I think bitcoin would still sttive better in the Philippines.

[david_019]

I believe banning bitcoin in the Philippines will not happen because the community umof it is growing and can testify how bitcoin is helping their lives including myself. And the couple scammer would not be a valid reason to ban bitcoin plus they were caught, another thing is scammers in the Philippines is not as big in numbers.

[Jannatul Shefa]

I don't think only for this reason bitcoin will be banned in Philippines. I have heard that Philippines is already started to accept bitcoin as an online currency. So it's totally wrong that bitcoin will be banned on Philippines.

[Kurokonobasuke]

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 are some cases where bitcoin become scam because of the people who use it. Bitcoin itself is not a scam but the people behind that particular bitcoin is the scam because they lie to people that if they invest on it they will get higher profit than to invest it into banks. So if they already had the money they will take it away, so it is more likely theft than scam.

[carriebee]

I don't think only for this reason bitcoin will be banned in Philippines. I have heard that Philippines is already started to accept bitcoin as an online currency. So it's totally wrong that bitcoin will be banned on Philippines.

Yes it will not banned, also there is no news from the government that bitcoin is illegal. Even recently bitcoin was in the top news in the country because a certain persons scam people because of bitcoin but government did'nt say at all to banned. Actually people is started recognizing the use of bitcoin.

[Asuspawer09]

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 don't think it will be banned in the philippines because philippines are accepting bitcoins now. Actually there is already virtual wallet where you can store your bitcoins and ethereum safely without worrying that you might lose you. Also there are some establishments accept bitcoin as a payment.