Bank Of Hungary – Issued Warning For Crypto Currencies

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: Possum577 on June 23, 2015, 01:43:33 AM

Any formal news of Bitcoin is good press. It's fair that people or organizations fear it before they praise it.

That is true in most cases, but when they issue warnings and close bitcoin associated accounts, it's far from good thing.
I agree banks are getting scared, and are probably involved in trash talking bitcoin, but what they are using as a justification is true, just look at how many scams and
exploitiations there are here. We need to fix this, and stop giving the ammunition in this fight.

cheers

Acidyo

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Will Bitcoin Rise Again to $60,000?

What until Bitcoin gets back to $700 level, this type of news wont even reach the surface...It is following the step of China, Russia etc. It just shows to the public the central banks are doing things. No surprise with this type of news!

PenguinFire

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That Darn Cat

Quote from: Possum577 on June 23, 2015, 01:43:33 AM

Any formal news of Bitcoin is good press. It's fair that people or organizations fear it before they praise it.

This is true. I don't know why anyone that isn't brainwashed by their local press or government would believe you are better off playing with their own currency that you have no control over.

Possum577

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Loose lips sink sigs!

Any formal news of Bitcoin is good press. It's fair that people or organizations fear it before they praise it.

hf100

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There have been a number of countries whose national banks have issued warnings against buying Bitcoins. Hungary is one more added to the list. Provided a country doesn't outright ban Bitcoin it won't make much difference to anything. It's only a warning.

bitnanigans

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Quote from: Daniel91 on June 14, 2015, 08:28:50 AM

The Bank of Hungary has send a warning against Crypto Currency like Bitcoin and OneCoin.
For them, Bitcoin is an investment with risks and it's safer to have money in stocks than to buy crypto currency like Bitcoin.
You can read full report here: http://www.businessforhome.org/2015/06/bank-of-hungary-issued-warning-for-crypto-currency/
What is your opinion about this statement?

Bitcoin is still volatile, so that's correct. It's still a risky investment and it should be treated as such. It could lose or gain value at any point.

Denker

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Quote from: LFC_Bitcoin on June 14, 2015, 01:58:32 PM

My personal opinion is I don't really care what Hungary thinks to be honest, it's not exactly known for its wealth & rich investors is it? Nothing they say or do is going to effect the growth of bitcoin.
If bitcoin does succeed & gain mainstream adoption it will be regardless of what Hungary does, they'll follow like sheep if bitcoin begins to be used widely by everybody.

Regarding the country's investors I would like to mention George Soros and Andre Kostolany.They were born and had been grown up in Budapest.However both learned the financial trade outside of the country. Kostolany in France and Soros in England.
With the rest of your statement I totally agree.

H.W.Z

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Quote from: pooya87 on June 15, 2015, 09:21:35 AM

as the article says, investing in bitcoin or any crypto for that matter has high risks but has big rewards at the same time. well this is stating the obvious, but i guess many people might not know this, especially people who want to get into bitcoin for the first time.
and the rest although claiming that bitcoin is not pyramid scheme, it talks about it!!

It is understandable that most of ppl get involved in bitcoin and are just speculating it for quick profit! But they have none experience at trading it and end up losing a lot! We don't need such kind of speculators! What we need is the bitcoin believers, who can truly support it!

pooya87

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as the article says, investing in bitcoin or any crypto for that matter has high risks but has big rewards at the same time. well this is stating the obvious, but i guess many people might not know this, especially people who want to get into bitcoin for the first time.
and the rest although claiming that bitcoin is not pyramid scheme, it talks about it!!

Hazir

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★Nitrogensports.eu★

Quote from: OrientA on June 15, 2015, 07:14:13 AM

Quote from: hua_hui on June 15, 2015, 05:03:32 AM

Quote from: RealBitcoin on June 15, 2015, 03:40:19 AM

Quote from: bryant.coleman on June 15, 2015, 03:34:40 AM

It is nice to hear that the banks are panicking, all around the world. Just a few days ago, a well known bank in Sweden published a full-page advertisement warining people against the usage of Bitcoin. And now, we have similar incident from Hungary as well. I smell something fishy... Why this sudden provocation?

They are panicking. More than 200 minor and medium banks go bankrupt in Europe at the moment, mostly in Spain but not just.

Something dark is at the end of the road, i smell another financial crisis just ahead Lips sealed

At this Greek debt crisisk, Euro / dollar pair is volatile and forex traders are flocking to speculate it, gain or lose are normal for them. So is the bitcoin! The reason that ppl or govs are against it probably is that it is new innovation. They cannot understand and trust it

When Greece exits Euro, bitcoin time comes.

Greece can't exit eurozone it is impossible. This is path you can take in only one way, nobody ever thought of the possibility when country would want to resign from common Euro currency.
So there is no plan for that eventuality, so as of now you can only join eurozone, not leave it and back to your own currency.

altcoinUK

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Quote from: LFC_Bitcoin on June 14, 2015, 01:58:32 PM

it's not exactly known for its wealth & rich investors is it?

First, George Soros comes to my mind when we talk about rich Hungarian investors.

OrientA

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Quote from: hua_hui on June 15, 2015, 05:03:32 AM

Quote from: RealBitcoin on June 15, 2015, 03:40:19 AM

Quote from: bryant.coleman on June 15, 2015, 03:34:40 AM

It is nice to hear that the banks are panicking, all around the world. Just a few days ago, a well known bank in Sweden published a full-page advertisement warining people against the usage of Bitcoin. And now, we have similar incident from Hungary as well. I smell something fishy... Why this sudden provocation?

They are panicking. More than 200 minor and medium banks go bankrupt in Europe at the moment, mostly in Spain but not just.

Something dark is at the end of the road, i smell another financial crisis just ahead Lips sealed

At this Greek debt crisisk, Euro / dollar pair is volatile and forex traders are flocking to speculate it, gain or lose are normal for them. So is the bitcoin! The reason that ppl or govs are against it probably is that it is new innovation. They cannot understand and trust it

When Greece exits Euro, bitcoin time comes.

Q7

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I don't understand why onecoin is thrown in the picture and it's somehow quite misleading as it was being regarded as having similar status to bitcoin. There are two onecoins that I know. One is probably dead and the other bearing a completely different logo and algo.

Whatever it is, the author definitely needs to separate bitcoin and onecoin apart. If the bank needs to analyze bitcoin legitimacy, let it be *only* bitcoin alone.

Amph

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Quote from: RealBitcoin on June 15, 2015, 03:40:19 AM

Quote from: bryant.coleman on June 15, 2015, 03:34:40 AM

It is nice to hear that the banks are panicking, all around the world. Just a few days ago, a well known bank in Sweden published a full-page advertisement warining people against the usage of Bitcoin. And now, we have similar incident from Hungary as well. I smell something fishy... Why this sudden provocation?

They are panicking. More than 200 minor and medium banks go bankrupt in Europe at the moment, mostly in Spain but not just.

Something dark is at the end of the road, i smell another financial crisis just ahead Lips sealed

we are just touching the tip of the iceberg. the great recession isn't over yet, and every bank is just assured that customers will no adopt bitcoin, or they(the banks) will suffer even more this current crisis

they are just covering their ass in the end, nothing more

but not all banks or government are against it, notice how only those(there are soem exception like greece that like the tech behind bitcoin) that are facing some economic issues are embrancing it

hua_hui

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Quote from: RealBitcoin on June 15, 2015, 03:40:19 AM

Quote from: bryant.coleman on June 15, 2015, 03:34:40 AM

It is nice to hear that the banks are panicking, all around the world. Just a few days ago, a well known bank in Sweden published a full-page advertisement warining people against the usage of Bitcoin. And now, we have similar incident from Hungary as well. I smell something fishy... Why this sudden provocation?

They are panicking. More than 200 minor and medium banks go bankrupt in Europe at the moment, mostly in Spain but not just.

Something dark is at the end of the road, i smell another financial crisis just ahead Lips sealed

At this Greek debt crisisk, Euro / dollar pair is volatile and forex traders are flocking to speculate it, gain or lose are normal for them. So is the bitcoin! The reason that ppl or govs are against it probably is that it is new innovation. They cannot understand and trust it

RealBitcoin

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JAYCE DESIGNS - http://bit.ly/1tmgIwK

Quote from: bryant.coleman on June 15, 2015, 03:34:40 AM

It is nice to hear that the banks are panicking, all around the world. Just a few days ago, a well known bank in Sweden published a full-page advertisement warining people against the usage of Bitcoin. And now, we have similar incident from Hungary as well. I smell something fishy... Why this sudden provocation?

They are panicking. More than 200 minor and medium banks go bankrupt in Europe at the moment, mostly in Spain but not just.

Something dark is at the end of the road, i smell another financial crisis just ahead Lips sealed

bryant.coleman

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It is nice to hear that the banks are panicking, all around the world. Just a few days ago, a well known bank in Sweden published a full-page advertisement warining people against the usage of Bitcoin. And now, we have similar incident from Hungary as well. I smell something fishy... Why this sudden provocation?

cryptojumper

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Quote from: Daniel91 on June 14, 2015, 08:28:50 AM

The Bank of Hungary has send a warning against Crypto Currency like Bitcoin and OneCoin.
For them, Bitcoin is an investment with risks and it's safer to have money in stocks than to buy crypto currency like Bitcoin.
You can read full report here: http://www.businessforhome.org/2015/06/bank-of-hungary-issued-warning-for-crypto-currency/
What is your opinion about this statement?

I agree that it's safer to have money in stocks, well, in reliable stocks.. But what do you get? If you get 7-9% annually you can consider your stocks are doing quite well (I mean dividend of 7-9%). Compare this to roi in cloudmining and you'll see that you get more in Hashnest for example, but the risks are higher. The same applies to holding or trading. Prices of crypto are more volatile, so it's a high risk investment, but with bigger rewards for lucky ones.

chennan

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Not suprise with this type of news! It is following the step of China, Russia etc. It just shows to the public the central banks are doing things. Once they find a good opportunity to embrace bitcoin, they will change their stance quickly, like Russia!

RealBitcoin

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Quote from: gentlemand on June 14, 2015, 12:40:00 PM

I would guess that most people aren't even aware their country has a central bank, let alone listen to much it has to say.

Your average granny crossing the road certainly doesn't, but the big guys with the bucks they all do.

You simply cant be a succesful investor these days without listening to the CB. Before they started printing mad, they actually gave good investment tips, now it's all chaotic.

So be sure if a CB tells dont invest in BTC, the investment banks, commercial banks, hedgefunds and private whales dont do either Embarrassed

Topic: Bank Of Hungary – Issued Warning For Crypto Currencies (Read 1957 times)