[ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - page 272.

Bitbobb

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Less hops. More wins.

Quote from: tomkat on February 07, 2018, 04:39:08 AM

Quote from: Bitbobb on February 07, 2018, 03:38:06 AM

^This.
The banks can't restrict what you're allowed to buy with your money (be it credit card, debit card, your own deposit(s), or any funds at your disposal).
They CAN sell dedicated products like mortgages, but it's explicitly defined and the clients know the purpose of the loan.
I've just checked the terms for CC in my local bank, and there's nothing about what product(s) and/or service(s) that can be purchased. It defines general operations that can be peerformed with the card: ATM withdrawal, POS payment, transfer from CC account.

it amounts to a partial blockade IMO.

tomkat

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Quote from: Bitbobb on February 07, 2018, 03:38:06 AM

Quote from: narutos on February 06, 2018, 09:08:10 PM

Quote from: SgtPepper on February 06, 2018, 11:44:02 AM

Quote from: tomkat on February 06, 2018, 10:18:40 AM

Quote from: tekmobile on February 06, 2018, 07:59:02 AM

Quote from: tomkat on February 06, 2018, 07:19:26 AM

Quote from: tekmobile on February 06, 2018, 05:32:20 AM

Quote from: Bitbobb on February 06, 2018, 05:30:01 AM

Customers using credit cards on Coinbase: the following card issuers are now blocking purchases of digital currency with credit cards.

Chase
Bank of America
Citi
Capital One

We're encouraging affected customers to switch to debit card or bank account payment methods.

Some see this as bad news but on the contrary it's good you shouldn't be using credit cards to buy crypto if you do not have the money then you shouldn't be taking the risks

I'd leave the decision what to do with funds on credit cards to their owners.
Otherwise we can end up with banks deciding what we're allowed to buy with CCs as a first step, and then they will likely go further.
Hey wait, it's actually happening now Grin

You may have possession of a credit card but all funds are strictly in ownership of the banks borrowing money on a credit card is no different that taking out a loan

What about some poor fool that got a CC with a nice 10k credit limit and bought a few BCH at $3K expecting it to double quickly only for it to now be worth $2500 and unable to afford the repayments

They are not saying you cannot use a Debit Card where you own the funds in your account just Credit Cards where the bank is loaning you their money big difference

Well, I'd expect a restriction on CC terms specifting explicitly what is not allowed to buy with your CC. If there's none, then the bank just gives you high rate loan without asking what you're going to do with the money. They determine upfront if you're able to repay the debt, and that's it. Applying a restriction looks like a change in the terms of your CC agreement.

If you have to use a Credit Card to purchase Bitcoin, you should not be purchasing Bitcoin. This is a NON-event.

This is people hard earn money, they basically takes too much risk, borrowing loans to gamble. Basic investing is invest as much as you can afford to lose.

No. it is like getting a draft from your own account payable tbd and then being told you cannot buy a house as they will not clear the check if it is made payable to a local realtor but anything else you like to buy with it is okay.

   This is tyrannical. And standard procedure for tyrannical leaders is to blame the victim. So it makes perfect sense that they blame the possible behavior of the end user of the financial product/ service for the ban! You can be sure the victim blame is the surest tool of the tyrant!



No one can tell me that less payment options is in anyway a good thing. So less options and access are good? Thats funny because freedom of money is actually measured in the nations using the exact opposite metrics.