"supposed scam"? Dude there's a link posted below have you read it? That's a legit news agency in the Philippines.

It's pretty hard believing in bad news about bitcoin, but I think the purpose of the OP is to tell other bitcoiners to share their knowledge so if there are new people who are interested in investing in bitcoin, they won't be scammed.

I suggest that before you question topics here, make your claims reliable too regarding "The Boss"

I know there's a link, but you really believe in news? Specially in the Philippines where news are turned and twisted, I know what was this  "scam", it is called "NEW G", the problem arouse when coins.ph implemented AMLC, the accounts used for reimbursing the upline was put on hold (as I stated above). The news says almost 900M Php was amassed but that was also exaggerated, just ask the people who have invested on that "scam".

http://www.gmanetwork.com/news/money/content/649472/police-nab-suspect-in-p30-m-bitcoin-scam-in-bulacan/story/

Here! Another source.


"Police operatives arrested a couple who allegedly defrauded several people of around P900 million in an investment scam through virtual currency Bitcoin"

Here an excerpt on the first paragraph. GMA news is one of the biggest news company here in the Phils. Now where's your source that it's exaggerated? If you wanted to prove a point, back it up with facts. I would like to post a video link but its in our native language.

You're right about the NEWG thingy, it was the name of their investment company. But again if you would doubt our news and say it twisted and exaggerated, show your facts.

I got your back kababayan!

I kinda hate these people using the name of Bitcoin for their own benefits while its image will be potentially ruined in the public. Bitcoin here is recognized both investments and a "simple" digital money. I hope it doesn't put a red flag in our government that Bitcoin itself is a scam but rather put a red flag on those type of projects instead. Government really needs a reinforcement in all these scams or more worse scams are about to come. Bitcoin can be put into advantage of other people to invite naive people in cryptos by offering them returns in their investments.

Yeah, your correct. When there's news about scams who is more likely to blame? I think its the investors, every scams can be avoided if people are thoroughly investigating before investing. They have failed to know more where their money would go, believes on high ROI in a short period of time without proof of anything, and the eagerness to be rich as quickly as possible. That's were the problem is.

You need to see that things like this don't matter. Criminal activity's like this didn't pop up since bitcoin came up , but have always existed and will exist with or without bitcoin.

If you are offered an income of 60% per month it's definitely a Scam. The victims of such primitive scams can only be very stupid people. I don't feel sorry for them. Greed turns their minds off. They're doomed. If these crooks had not deceived them, they would have been deceived by other people. Such a punishment awaits all who believe in the fact that you can not work and have an income.

not only sharing with all Filipino citizens but to keep the good name of bitcoin and to save bitcoin users from a scammer is our job. so, the good name of bitcoin always exists, because today I read a lot of news about people using bitcoin to deceive the public.

joining with the bitcoin community and also learning about crypto is a good way, so, we are not easily by a scammer.

Scammers and cheaters are rife in the crypto industry because no one has control over anything. Like for example someone stole the private keys to my husband's eth wallet and within minutes he stole over 3.5k usd of our coins value and no one can do anything about it. You just need to look at this forum and see how many thieves there are lurking, you don't need to gar far lol. Despite all the challenges we in crypto face by scammers and thieves, I still won't give up on my dream to see Bitcoin and Altcoins taking us into the future, but yes it is far easier to scam and steal and get away with it in this industry and I wish something was done about it. There is also a Vietnamese Mafia using this forum to steal bounty stakes and rip off people's honest work, they are probably working as a group. I have found 9 members of this gang so far this week. The only sad thing in all this is that most of the scammers I have so far located are of Asian Origin, which I find quite bad because my Husband is Chinese and he would never even think of taking a penny from anyone else. It makes Asians look really bad and not trustworthy to do business with and I really love Asian culture myself, so this is not a position of bias I am taking as I have no racial issues, just something I have observed over the past four years. Three other hackers I located were from Thailand and Indonesia, which is where I actually want to go on holiday. My nephew has married a Pinay and moved to Philly too, so our family is also part Asian now.