This news may have caused alarm to those who are not familiar with Bitcoin and how it works.  Technically, the problem does not lie to Bitcoin, but the people who used it as an opportunity to take advantage of the popularity of it. There are lots of scams reported in the Philippines like: Card Skimming and ATM fraud, Bullet in bag, Money Changer Scam.. and a lot more. The point is, banning Bitcoin is not a solution to solve the problem especially if there are people who legitimately earn money from Bitcoin. These scammers find ways to swindle for money and the least we could do is to be more vigilant and educate ourselves before dealing with investments.
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