if there are people who scam with bitcoin, The 1st impression of investors here in the philppines will look at bitcoin as scam. -_-
If that is the case then people's first impression into fiat should have been bad. IMO there are many scammers everywhere using fiat, so don't think that scams like this only happens with bitcoin and crypto. The 1st impression of investors shouldn't be affected by this incident.
OP, I fear for the Bitcoin holders in your country. I believe your government might be quick to jump on the news and start banning all cryptocurrencies and make them illegal.
Do not fear for bitcoin holders in Philippines since as far as I know, the Philippine government already took a step to legalize bitcoin way back in January. According to coindesk, Philippines SEC plans to craft rules intended to regulate crypto news and ICO's. Why would government agencies issue regulation rules if they will ban it?
Sources:
https://www.coindesk.com/philippines-sec-plans-to-regulate-cryptocurrency-trading-icos/https://news.bitcoin.com/philippines-move-in-direction-to-legalize-bitcoin-as-a-security/