So I got scammed by some philipine guys and looking at it retrospectively, here is what you should do:

1. once they reveal their intentions and threaten you, say you do not have much money (all they want is money - if you make clear that there is not much to gain from you, they may step back) !Do not communicate any further!
2. screenshot all of your messages and note down scammer's Alias and details (to file a complaint)
3. cut the contact immediately afterwards and block them on every social media that you have given out (if they have no way to contact you to get money, they will desist from attempting)
4. deactivate Facebook and Instagram for a while and tell a close friend to keep an eye out (to report any suspicious account immediately)
5. pray

The only mistake I made is to ask them for their PayPal so that I could attach the adress to the complaint, but I now fear that they think I'll still send them any money and might try to get back in touch with me, although I cut off any possible way of contact. They might also be angry now and still send the video of me to friends.

In any case, DO NOT send them any money.

Also, they can not directly send the video to your friends on social media like Facebook or Instagram. Usually your friends will have to "accept" their request and I believe that none of mine would do that from a suspicious account with a foreign name.