I just watched a news about Bitcoin scam here in the Philippines a little while ago that aired on the national television. A couple scammed almost 1 Billion Php (19,260,000$) to 50 Filipinos by the use of pyramiding scheme. What will be the impact of this news to the Bitcoin investors in the Philippines? Will it decrease?
I think that it will have a big negative impact in the reputation of bitcoin in Philippines. Since it aired on the national television and almost all Filipinos can see it, some of the future investors will be frightened to invest in bitcoin. And that will decrease the potential bitcoin users worldwide.
http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.htmlIt impact a lot, people can start hating bitcoin and it can ruined the reputation in Philippines. Not only bitcoin but other crypto currency are also in danger. This is huge amount and for the safety Philippines government can ban bitcoin which can impact bitcoin growth. Just for other careless people stop believing in bitcoins plus newbies will never take part after hearing false news that bitcoin is a scam.
I can say that this negative news has only made an impact to those people who does not know bitcoin at all.But for those legends in bitcoin community,they will just treat it as an ordinary media pressure trying to pull down the price.But look at now,the news has gone so fast.People are starting to give interest to bitcoin since bitcoi is proven to be legit and safe.