Will bitcoin be banned on Philippines?

[insikko0413]

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 is impossible because the government already accepted the use of bitcoin in some establishment.

[Pepito Manaloto]

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?

Scams do happen in any place in the world but still I don't think bitcoin will end up getting banned in the Philippines. So far, based om what I've heard on the news, the bank of the Philippines produced a precaution to the investors within the country to take double care since a lot of many is at stake for those who are investing in bitcoin. We should consider ourself lucky for having bitcoin safe within our area.

[chromosomes]

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?

Many of us has already heard of that news and bitcoin has been making a wide noise within the country. I don't think bitcoin will be banned in the Philippines still knowing that a lot of investors are already putting all their money on it which makes the country benefit from it. Maybe the users will be influenced not to use it anymore but still many people will keep on supporting.

[Ikay]

Its not gonna happen because philippines is not more high technology that can banned crypto in their society so definitely philippines don't have the ability to banned a things wich they do not own.

[BitcoinMarketer39]

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?

Yes there is a huge chance for bitcoins to be banned in the philippines since there are scam allegations regarding cryptocurrency in a networking concept like pyramid scheme and ponzi so they might ban bitcoins in the country as well.

[Jessy Mediola]

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 happen since bitcoin is now accepted in Philippines and most of Filipinoes are now engage in to it. And many investors from Philippines are now investing their money that has also a big participation in the economy. And it will not be possuble since many businesses are now accepted bitcoin as a medium of exchange.

[Star_Bucks]

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?

Certainly not but most probably, it will strengthen the will of the government of the Philippines to regulate it to prevent this to happen. These people who are victim of this multi million scam, are those investors who don't have enough knowledge what they are investing in.

[b3j0]

they should not forbid bitcoin but they should take precautions to keep it from happening again. the command must issue rules to set the bitcoin.

[burner2014]

I don't think that the government of the Philippines would banned bitcoin, of course not, when in fact they are doing a program now, something that can help people to know more about cryptocurrency, as they want their people to be involved in it.

[Lady Coquet]

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 am also from the Philippines and i think bitcoin will not be banned in the Philippines because the government in our country do not see a lot of problem in using bitcoin even it has a huge percentage of scam. Bitcoin can still help people in the Philippines to have a source of income and to help the economy of the country.

[Bosx1ne]

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?

Philippines will not ban cryptocurrencies. Actually, Philippines is creating plan that will help the bitcoin to become more popular all over the country. There are now many businesses in the Philippines that fully accepted bitcoin as money.

[ufaiz50]

it's just that if the government sees this case as a big problem I'm sure bitcoin will be banned and that case could be the reason why bitcoin is banned, but if we look at this then little bit of an investor's fault that over belief in this kind of investment place, I think it's like MLM or HYPE / money game right?

[shoujiuhaituo7]

All of this is unpredictable, but I believe the Philippines will not ban bitcoin altogether, and they may introduce policies to regulate bitcoin transactions, such as tax collection.

[cherryfer]

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) operativeso – 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 already knew about the news last month about many Filipino people was  a victim of the said crypto currency scam using the name of bitcoin, that's why almost all Filipino are hate Bitcoin and it was suddenly predict that Bitcoin is a scam. Anyway  I hereby certify that Bitcoin is not scam. Bitcoin was build for all people it's either you rich or poor people all have accessible to use Bitcoin  that's why some other organization taking advantage to use Bitcoin victimized too many people in behalf of Bitcoin.

[Ingoats]

-snip-

I am also from the Philippines and i think bitcoin will not be banned in the Philippines because the government in our country do not see a lot of problem in using bitcoin even it has a huge percentage of scam. Bitcoin can still help people in the Philippines to have a source of income and to help the economy of the country.

Look at other countries in Asian, Thailand, Singapore all have the frame legal work to manage the activity of cryptocurrency in these countries.
Why the rich countries do that earlier than other developing nations in Asian?
Because they are the smart people, they have better intellectuals than the people in other countries.
So, if the Philippine government ban Bitcoin, they only make their chance to grow the country's economy disappears.

Losing the opportunity for this country to be successful in the world of cryptocurrencies is a disappointment for its citizens, especially those who use bitcoin in that country. A single case should not be a barrier and the main reason to ban bitcoin in a country. We all experience failures here, and it is part of our lives. We should not accept only the good, but also the challenging ones.

[Edraket31]

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) operativeso – 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 already knew about the news last month about many Filipino people was  a victim of the said crypto currency scam using the name of bitcoin, that's why almost all Filipino are hate Bitcoin and it was suddenly predict that Bitcoin is a scam. Anyway  I hereby certify that Bitcoin is not scam. Bitcoin was build for all people it's either you rich or poor people all have accessible to use Bitcoin  that's why some other organization taking advantage to use Bitcoin victimized too many people in behalf of Bitcoin.

Still thankful that after that those people involved in it now finally facing the jail, so far I am proud of our Police that did everything for them to pay for the damage that they have done, so for all people it should be a lesson learned.

[criz2fer]

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) operativeso – 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 already knew about the news last month about many Filipino people was  a victim of the said crypto currency scam using the name of bitcoin, that's why almost all Filipino are hate Bitcoin and it was suddenly predict that Bitcoin is a scam. Anyway  I hereby certify that Bitcoin is not scam. Bitcoin was build for all people it's either you rich or poor people all have accessible to use Bitcoin  that's why some other organization taking advantage to use Bitcoin victimized too many people in behalf of Bitcoin.

Bitcoin is not a scam and it will never be banned. Currently, there are just FUD that making bitcoin as scam in the eye of an ordinary people in the Philippines without looking in the deeper story. Most of them are jut fake news to stop investing in bitcoin because many people could earn from it if they encourage more citizens.

[dwieyani]

Crypto is used as an investment scam, many other things used as an investment scam in the Philippines have happened so I can not say it. now most countries have done set cryptocurrency rather than forbid it.

[unknown-user]

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 you can see on the news there is a possibility but they didn't say it but they give us an advise on where to put our money. They didn't believe on bitcoin but they didn't also oppose on it. There are still ko clarification whethed the PH would ban bitcoin. But there are fresh news about this guy who borrow money to invest in Bitcoin but it failed.

[Master Third]

i don't think so. The bitcoin community in the Philippines is growing and this group of people can testify that bitcoin is not a scam by showing their transaction experienced and profit. so one two scammerswere not enough to be the basis why bitcoin should be ban in the Philippines if many are using it and getting profit aside from this bank of the Philippines is supporting bitcoin.