Re: Reputation of Bitcoin in the Philippines.

Quote from: yoseph on May 21, 2018, 04:25:25 PM

Quote from: kjnfmplm on April 11, 2018, 11:19:59 AM

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.html

Though it will discourage people from engaging in bitcoins, it will also help inform the general public not to become naive and fall victims to these kind of scams in the near future. I will certainly not invest my bitcoins in anything except holding it securely in my wallet.

There are lots of reasons why the Southeast Asian nation is an interesting location to grow adoption for cryptocurrency and its underlying technology, the blockchain. First is demographics. The Philippines is one of the most populous nations in the world, majority of which are millennials. These millennials have been the driving force behind the cryptocurrency awareness in the country.