Topic: Uganda says cryptocurrency is risky - page 3. (Read 8322 times)
For me, all investment is risky, when it comes to money involvement you are risking your money it will end into three-part only, is either you will have some profit ( massive or meager) sustain ( you just try it, and you don’t lose your money or even earn), and the last is you lose your money in your investment. Cryptocurrency is risky because most of the people spend money on it, and the price rate of this cryptos is very fluctuating if you compared it to other investments that have a must stable price. But don’t blame cryptos you’re the one that taking the risk right.
Governments and banks saying, 'cryptocurrency is risky' could be interpreted as, 'we cannot control this currency'.
Bitcoin implementation gives asset holders complete control of their assets, taking away a major form of power from the governments.
Individuals should take the initiative and do their personal research. I have spoke to a number of people about Bitcoin and he cryptocurrency network, and majority of the already have a prejudiced view of it without any knowledge of the basics or how it really works.
Bitcoin implementation gives asset holders complete control of their assets, taking away a major form of power from the governments.
Individuals should take the initiative and do their personal research. I have spoke to a number of people about Bitcoin and he cryptocurrency network, and majority of the already have a prejudiced view of it without any knowledge of the basics or how it really works.
Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
Central banks are riskier. They are oftentimes failing their own people while fattening up their own pockets. Governments are riskier also. They are granted the responsibility to lead and ensure the welfare of the people and yet they always end up falling short. Crypto is made up of people freely dispensing their properties. That does not happen with fiat. Uganda needs to step up.
Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
ugabda should develop their own coin and built it on the blockchain if they think that bitcoin is too risky to be adopted into their economic? The infect of USA dollars on most of Africa's currencies is too high and it will be very difficult for some of this country to develop. To me, Bitcoin is too volatile to be used as country money and if Uganda does that it will create serious problems in the country but on a long run, they should develop their own coins just as companies like Facebook are planning.source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
ugabda should develop their own coin and built it on the blockchain if they think that bitcoin is too risky to be adopted into their economic? The infect of USA dollars on most of Africa's currencies is too high and it will be very difficult for some of this country to develop. To me, Bitcoin is too volatile to be used as country money and if Uganda does that it will create serious problems in the country but on a long run, they should develop their own coins just as companies like Facebook are planning. source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
The dilemma in almost all developing countries is that to be able to accept progress with digital technology especially especially crypto, it is not as easy as one might imagine.
clearly there are still many obstacles, and with the growth of information the intensity will bring them more open. it takes time for crypto to be accepted and it is understood that risk is almost the same as investment.
clearly there are still many obstacles, and with the growth of information the intensity will bring them more open. it takes time for crypto to be accepted and it is understood that risk is almost the same as investment.
Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
Uganda’s Central Bank is right, cryptocurrency is too risky we can’t just disagree on this one because its true and that is why we have to educate more people for them to understand the risk. Its better for Uganda’s Central Bank to educate their people, to encourage the local banks to adopt and by this the risk can be lessen because more people will understand cryptos. source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
Of course Central Bank of Uganda said that cryptocurrency is risky because crypto is their rivalry in terms of people investment. People would choose Crypto over bank even crypto is not legal because crypto has a higher interest rate than a bank. One thing more crypto is non regulated,with out many documents needed before you can invest.
Central bank is advertising bitcoin and doing a decent job
they are definitely against anything that could ever challenge the Central banks network around the globe
especially something that is decentralized and has a deflationary mechanism in it , like bitcoin
it is much easier to print worthless paper and make sure common people's income is never growing despite the progress and all that jazz
I hope Uganda makes the right choice and despite the CB warnings it adopts a more relaxed stance towards cryptocurrencies
actually i agree with what they said about cryptocurrency " online cryptocurrency businesses are not regulated at the moment and therefore carry a significant risk of loss of savings, with no recourse to protection or insurance by government "
its not something new if goverment say if cryptocurrency is risky, the fact is crypto risk there is no protection to our investment there.
its not something new if goverment say if cryptocurrency is risky, the fact is crypto risk there is no protection to our investment there.
Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
Central banks are riskier. They are oftentimes failing their own people while fattening up their own pockets. Governments are riskier also. They are granted the responsibility to lead and ensure the welfare of the people and yet they always end up falling short. Crypto is made up of people freely dispensing their properties. That does not happen with fiat. Uganda needs to step up.
Of course Central Bank of Uganda said that cryptocurrency is risky because crypto is their rivalry in terms of people investment. People would choose Crypto over bank even crypto is not legal because crypto has a higher interest rate than a bank. One thing more crypto is non regulated,with out many documents needed before you can invest.
Central bank of Uganda refuses to implement crypto because "it's risky"
source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
The deputy governor of the Bank of Uganda has warned the public about the limited protections offered them when they invest in unregulated cryptocurrencies. source: https://cointelegraph.com/news/central-bank-of-uganda-warns-decentralized-cryptocurrencies-are-risky
it's unbelievable that he says "cryptocurrency is risky" when his country's politicians are corrupt
It is a recurring story with all the countries that are corrupted to the core to say that cryptocurrency is risky and they will not implement and they will say that it is too risky to allow people to invest in it, these corrupt governments imply that they are protecting the people from the risk. We must understand that it is not the issue with these people, if people start using the platform and everything becomes transparent then how these corrupt officials will hide their loot, they can resist for a while saying that it is risky but blockchain and cryptocurrency will prevail in the long run.
Every government does this, uganda is no exception and I dont see anything restricting the countrymen with news read. Seriously, we need to educate newbies of some intricacies of the space. It is not misleading but protective, it is global space with diversities in purpose. some with the purpose to build and some to destroy. Government giving idea of what new investors are getting into isn't bad at all. Facebook, twitter and the rest did some control in their sphere. This should prompt them to get educated before to get victims of scam
I'd say living in Uganda is way riskier than bitcoin could ever be 
when a country cannot or doesn't want to regulate the crypto properly they start to say general trite things like bitcoin is risky , cryptocurrencies are a grey area etc.
instead of sitting down and setting the rules up , they either ban it or turn their blind eye , like it doesn't exist
Uganda has bigger problem than cryptocurrencies regulation , I admit , but it would not hurt to at least show their stance towards either adopting it or banning it instead of pointless statements
when a country cannot or doesn't want to regulate the crypto properly they start to say general trite things like bitcoin is risky , cryptocurrencies are a grey area etc.
instead of sitting down and setting the rules up , they either ban it or turn their blind eye , like it doesn't exist
Uganda has bigger problem than cryptocurrencies regulation , I admit , but it would not hurt to at least show their stance towards either adopting it or banning it instead of pointless statements
Oh Uganda!
Investing are really risky. Engaging in cryptocurrency, there's always risk that's why you have to be risk-taker in order to gain something.
And when they "refuse to implement crypto" just because of this, they're just afraid. They're just using 'risky' as an excuse
And when they "refuse to implement crypto" just because of this, they're just afraid. They're just using 'risky' as an excuse
Every new innovation has Risk as Cryptocurrency and its background history is revolutionary. Until and unless we won't make our system that much strong we can't chase the strong potential alternative to the traditional currency.
All things in the world have their own risks as well as cryptocurrency. Can you mention something in life that has no risk? But behind the risks that are, of course, there is the potential to gain benefits, lessons, or experiences that are useful in our lives. What is important is how we manage these risks so that they can be as minimal as possible.
Need to remember "No Risk, No Gain"
Need to remember "No Risk, No Gain"
I totally agree that without risk the life seems so predictable and boring. I feel more alive when I take risks, makes my heart beats faster. Also not to be afraid of failures as it is part of excitement and it helps to draw a constructive analysis where next time one can mitigate the risk element.
There is no government who says cryptocurrencies are safe place to be use as investment place or be used another function such as payment system, this was happened to my country before they decide to regulate it.
But now, my country has been regulating bitcoin/cryptocurrencies as commodity where the citizen can be used it as trading place or investment only.
Previously, they ban cryptocurrency with the same reason as Uganda now, but they know the profit will be gained if cryptocurrencies prices moving up so as they decide to re-regulate with one note the risk that will be faced be certified by the user itself, they only ask to pay taxes to all users.
But now, my country has been regulating bitcoin/cryptocurrencies as commodity where the citizen can be used it as trading place or investment only.
Previously, they ban cryptocurrency with the same reason as Uganda now, but they know the profit will be gained if cryptocurrencies prices moving up so as they decide to re-regulate with one note the risk that will be faced be certified by the user itself, they only ask to pay taxes to all users.
Jump to: