ralle14
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October 11, 2018, 06:41:52 PM Last edit: October 11, 2018, 10:17:24 PM by ralle14 |
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I don't understand why people fall for Pyramid Schemes after all! anyone can see the real face of a pyramid scheme in 10 minutes on google and youtube!
People fall for Pyramid Schemes because they are greedy or unaware that it's a scam. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts!
Even if they do ban Bitcoin in the Philippines these scammers can use fiat to continue their operations. Bitcoin regulation won't save everyone from getting scammed because exchanges are mostly the ones that get monitored. When there's a bad news coming from Philppines about Bitcoin it's always asked if it'll get banned last time there's this. It's getting annoying since the answer is obvious unless they give some hints of banning Bitcoin.
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CryptoDamon (OP)
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October 17, 2018, 04:32:10 PM |
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I don't understand why people fall for Pyramid Schemes after all! anyone can see the real face of a pyramid scheme in 10 minutes on google and youtube!
Lack of knowledge and ignorance. There some people who just really love to take risks even if they already knew exactly that its just a scam.
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Baofeng
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October 17, 2018, 10:56:13 PM |
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Investors will likely evolved as well and be smart specially investing in crypto. Sooner or later there will be less gullible person and I do hope that those who have been scammed before will not commit the same mistakes again. Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology.
I don't think so. On the contrary, it might attracted more investors. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts!
It can probably save some investors. But scammers will be scammers, they will try to look at ways to steal and victimized unsuspecting people whether crypto or fiat.
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jbarcenas18
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October 17, 2018, 11:14:29 PM |
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https://www.ccn.com/philippines-deports-mastermind-of-33-million-bitcoin-pyramid-scheme/These pyramid schemes are the ones giving bitcoin a bad name taking advantage of those people who have less knowledge about the technology. That's why it's really important that we do our own research to something that we wanted to invest our money in to avoid being scammed by these scumbags. Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts! Definitely, people using trending site like bitcoin for pyramiding scam just to earn millions and don't think the consequences afterward. I don't think this will be the ground for banning bitcoin in the Philippines because it did not do anything just to ruins peoples lives. It is your choices....
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nydiacaskey01
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October 17, 2018, 11:28:49 PM |
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Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts!
I don't think the Philippine Government will consider or impose a ban on Bitcoin. Tighter regulation maybe implemented. Just look at Coins.ph now one of the local exchange sites in the Philippines how strict they are in new registrations and and asking for identifications to be able to cash out. If they sensed that there's unusual movement of funds in your account you'll be asked for more IDs. Regulations can't protect investors from being scammed, investors need to protect themselves by educating themselves on how to spot a scam. if its too good to be true then more likely its a scam.
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faceoff97
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October 17, 2018, 11:30:09 PM |
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Most Pyramid schemes are ussual scam, the idea of Crypto currency is to free us from intervention of anyone fROM our funds. Engaging in a networking losses the whole idea of Crypto. Choose not to trust anyone to have control over your money, better to store it to an open source wallet which offers you full control over your fund. Its better to hold your coin in a wallet and just wait for the price to pump. If you consider to hold multiple coins, better take a look and verify the security of a wallet like HODLER wallet. Surely, you will never experience to get scam since your money is all within your hand.
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kendra1107
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October 17, 2018, 11:35:23 PM |
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https://www.ccn.com/philippines-deports-mastermind-of-33-million-bitcoin-pyramid-scheme/These pyramid schemes are the ones giving bitcoin a bad name taking advantage of those people who have less knowledge about the technology. That's why it's really important that we do our own research to something that we wanted to invest our money in to avoid being scammed by these scumbags. Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts! There will always be scammers everywhere. Unfortunately, Bitcoin has also become a tool for these people to take advantage of others. Problem is, when people get scammed they tend to blame it on the tool. But we have to understand that it is not the tool that is the problem but the people using that tool! This is a sad reality. Point to ponder, no one will be scammed if he/she will not allow him/herself to be scammed! Which is why vigilance is of highest importance when it comes to these things. We cannot do anything about these scammers. But, we can everything to keep ourselves from becoming a victim.
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Nellayar
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October 18, 2018, 12:00:21 AM |
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It hurts when I saw a news came from Philippines that is scam. I am a Filipino citizen and I am aware of this. And I think, it just destroy the good identity of Philippines in crypto industry. However, it is good that the authorities have their support in order to arrest this scam ppl that involve in this activity. Hopefully, those people who scammed will learn a lot so that, they will not just join in scam and pyramiding investment.
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TravelMug
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October 18, 2018, 12:46:38 AM |
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It hurts when I saw a news came from Philippines that is scam. I am a Filipino citizen and I am aware of this. And I think, it just destroy the good identity of Philippines in crypto industry. However, it is good that the authorities have their support in order to arrest this scam ppl that involve in this activity. Hopefully, those people who scammed will learn a lot so that, they will not just join in scam and pyramiding investment.
Did you read the news? It was a Korean national and not a Filipino who is involved in the scam. So it has no effect whatsoever for the Philippines. The country is already making a good moved by embracing bitcoin because I read that more exchanges will be opening in the Philippines and they have this kind of special zone dedicated for crypto activity. As for scammers, everyone should be aware that they're going to multiple because of the gaining popularity of bitcoin so we should do our own research and due diligence. Scammers are evolving in shape and form so just be careful not to be swayed by this criminals.
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steampunkz
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October 18, 2018, 01:07:49 AM |
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I just watched another news again yesterday it's about some Chinese organized group has been caught by the bureau and with the help of chinese Interpol, who are manipulating the price of stocks, especially on cryptocurrency. Also, another has been caught on running Illegal online gambling scamming and frauding people who are based in the Philippines. I think some criminal groups like to base their illegal activities here because of the light securities and also they will not be easily identified by the police.
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Golftech
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October 18, 2018, 01:09:51 AM |
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Scammers are all around, now that they've seen crypto as a good potential venue to take advantage from those people who's new to it, but in either way even government impose ban or much tighter rules scammers will be able to find ways, we should not condemned the system as supporters we should protect this chain and bring enlightenment or much deeper knowledge helping new people to have a better look before entering this investment platform.
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pabpete
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October 18, 2018, 01:12:22 AM |
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https://www.ccn.com/philippines-deports-mastermind-of-33-million-bitcoin-pyramid-scheme/These pyramid schemes are the ones giving bitcoin a bad name taking advantage of those people who have less knowledge about the technology. That's why it's really important that we do our own research to something that we wanted to invest our money in to avoid being scammed by these scumbags. Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts! Banning Bitcoin will change nothing. The most important thing is to educate people about the dangers of investing in something that they do not understand. The basic legal regulations will also help in prosecuting such scammers. It is good that this scammer was caught!
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strideynet
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October 25, 2018, 05:26:40 PM |
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perhaps among those who learned about the cryptocurrency through such sites, were able to study it further, realizing their mistakes
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[ProTrader]
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October 25, 2018, 07:24:18 PM |
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https://www.ccn.com/philippines-deports-mastermind-of-33-million-bitcoin-pyramid-scheme/These pyramid schemes are the ones giving bitcoin a bad name taking advantage of those people who have less knowledge about the technology. That's why it's really important that we do our own research to something that we wanted to invest our money in to avoid being scammed by these scumbags. Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts! If the Philippine Government doesn't know what Bitcoin is, they could ban Bitcoin but since it is a crypto friendly. But I believe that they are already know that Bitcoin has nothing to do with the scam activities because like fiat currency it can be use in legal and illegal activities.
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goldSkylark
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October 26, 2018, 05:24:36 AM |
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Pyramid schemes are rampant in the Philippines. I think this all boils down to education. Some people are just too trusting or act on impulse without thoroughly studying a potential investment. Scams will only happen if we allow it. People must do their homework, due diligence as they'd say, and be vigilant.
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zeingrind777
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October 26, 2018, 09:42:52 AM |
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If bitcoin is used for investment in pyramid schemes, it will make bitcoin a negative view. Although pyramid schemes exist before bitcoin, I think they only use bitcoin in this way and lead to fraud. The state should have made a regulation regarding the ban on the Ponzi scheme system because, in the end, the last investor will experience a huge loss
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sinkfish
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October 26, 2018, 10:50:49 AM |
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https://www.ccn.com/philippines-deports-mastermind-of-33-million-bitcoin-pyramid-scheme/These pyramid schemes are the ones giving bitcoin a bad name taking advantage of those people who have less knowledge about the technology. That's why it's really important that we do our own research to something that we wanted to invest our money in to avoid being scammed by these scumbags. Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts! Philippines adopt US culture. they don't mind using pyramid scheme to scam even family members money as long themselves are rich. from government bond to crypto. everything can be use as scheme, Filipino are not all well educated. easily manipulated by others. another is Chinese minority there. Many Chinese from China went there to join pyramid scheme due to China banned and it is punishable by death. so most of them went to SEA country to create pyramid scheme. Philippines is one of the popular spot.
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princesspoppy
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October 26, 2018, 11:16:30 AM |
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https://www.ccn.com/philippines-deports-mastermind-of-33-million-bitcoin-pyramid-scheme/These pyramid schemes are the ones giving bitcoin a bad name taking advantage of those people who have less knowledge about the technology. That's why it's really important that we do our own research to something that we wanted to invest our money in to avoid being scammed by these scumbags. Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts! Scams has already been there ever since bitcoin was created and some scammers had been sentence with punishment they deserve. Good thing that this scammer was caught in our country which is Philippines. $33M is a very huge amount of money, take note that he got this by scamming people and promising them to gain profit by investing in bitcoin is very alarming most especially that some people do not know anything about it. This is the reason why we should always do our own research about things especially if it assures us a fast and guaranteed profit.
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xfaqs01
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October 26, 2018, 11:20:35 AM |
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Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts!
i dont think so, i see no probable cause at all, just like any technology or a booming industry theres always a good guys and a bad guys around, you just have to do yoir due diligence to not to be a victim, just like any othet currency or fiat money theres always scammers will scam you.
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Siren
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October 26, 2018, 11:28:30 AM |
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https://www.ccn.com/philippines-deports-mastermind-of-33-million-bitcoin-pyramid-scheme/These pyramid schemes are the ones giving bitcoin a bad name taking advantage of those people who have less knowledge about the technology. That's why it's really important that we do our own research to something that we wanted to invest our money in to avoid being scammed by these scumbags. Philippines is a crypto freindly country and lots of people are benefiting from it and since there are so many pyramid schemes happening in this country I just hope that this wouldn't create an impression to those who wanted to learn or invest in this awesome technology. Do you think this is a ground for banning bitcoin in the Philippines? Will bitcoin regulation save those potential investors not to be scammed? Share me your thoughts! How stupid is this question mate?where did you get the idea of this arrest to be a ground of banning bitcoin in thay region? This is a fault of individual or maybe with hes team but this not mean the whole country will suffer just because of them.and i believe that philippine government is a crypto friendly country and no hard regulations about this community.so stop fooling around mate and be mature about this cryptocurrency
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