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!
Pyramid business has been very attached to the term online business. Almost all online businesses are entered by this pyramid system. Because basically the pyramid business will only bring negative effects to anyone who follows it. I think the Philippines is a big country, so it's only natural that they do that because they see Bitcoin as an online business like everyone else.