Bank Of Hungary – Issued Warning For Crypto Currencies

[pooya87]

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!!

[H.W.Z]

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!

[Denker]

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.

[bitnanigans]

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.

[hf100]

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.

[Possum577]

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

[PenguinFire]

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.

[Acidyo]

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!

[ajareselde]

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