so, in fact they stop people from making low purchases, controlling how people spend their own money.
It seems to me that this is not illegal, is it?
Topic: BREAKING NEWS : Bank of America and JP Morgan Are banning CC purchases - page 4. (Read 765 times)
February 03, 2018, 02:48:04 PM
February 03, 2018, 02:27:06 PM
one more time banks trying to stop people buying BTC these banks are trying to stop members forever but bitcoin is decentralised
February 03, 2018, 02:16:45 PM
I don't like it at all, it's already hard enough for some to buy crypto currencies with their regular bank accounts.
February 03, 2018, 02:15:21 PM
It is news. I know someone who used a BoA CC last week to make a purchase. The policy is new.
It isn't helpful to the market to reduce people's options into getting Bitcoin.
It isn't helpful to the market to reduce people's options into getting Bitcoin.
February 03, 2018, 02:11:00 PM
Breaking news? Banks were already blocking crypto related transfers and refused to put crypto related money on their cards. JP Morgan CEO is already famous for his anti bitcoin sights and spreading FUD in 2017. Since the last year Warren Buffett (he has been saying several times that cryptocurrencies will come to a bad ending) bought a big part of Bank of America so there is nothing strange that this bank is providing this kind of policy.
Do not spread extea FUD. Nothing changed.
Do not spread extea FUD. Nothing changed.
February 03, 2018, 01:53:22 PM
It's a good move. Too many people lost money they didn't have by speculating on Bitcoin in the last gold rush.
On the other hand, a lot of people also made huge profits during last years gold rush. You should not deny that fact. Bitcoin is a speculative investment and everyone knows the risk around it. So if someone starts screaming after the price gone down, it's their own fault. Bitcoin's price will have fluctuations, so an investor should know when to enter and when to pull out the plug.
Now if someone have bought bitcoin at the wrong time and sold at lower price, it is their own fault and their own greed. Not every person can be happy in the speculative market. JPM was always against the bitcoin and cryptos and BA has joined the party recently. They will come up with more bans, just wait and watch.
February 03, 2018, 01:49:26 PM
Concerned? No. It is just one more nail in the coffin of the credit card industry. They should not be singling crypto out like this. But, I'm actually just surprised they waited this long. Maybe the new attention is a good sign because it shows they now finally see crypto as competition.
February 03, 2018, 01:47:17 PM
It's a good move. Too many people lost money they didn't have by speculating on Bitcoin in the last gold rush.
February 03, 2018, 01:35:32 PM
Is anyone concerned about this?
February 02, 2018, 07:37:41 PM
JP Morgan is aiming to ban CC on February 3rd and Bank of America to ban CC on February 2nd.
Looks like for right now they will only be banning CC purchases, which is not as bad as it sounds. If someone steals your CC and maxes it out buying cryptocurrency, then that could be a huge problem. Plus people can likely max it out as a way of getting "lent" money they cant afford to pay back.
As long as you can make Bank wires, and Debit card purchases this really shouldn't be a big deal.
Source: https://www.coindesk.com/report-bank-america-jp-morgan-ban-credit-crypto-purchases/
Also dont forget Bank of America has a patent for an exchange system : https://www.coindesk.com/bank-of-america-outlines-cryptocurrency-exchange-system-in-patent-award/
Looks like for right now they will only be banning CC purchases, which is not as bad as it sounds. If someone steals your CC and maxes it out buying cryptocurrency, then that could be a huge problem. Plus people can likely max it out as a way of getting "lent" money they cant afford to pay back.
As long as you can make Bank wires, and Debit card purchases this really shouldn't be a big deal.
Source: https://www.coindesk.com/report-bank-america-jp-morgan-ban-credit-crypto-purchases/
Also dont forget Bank of America has a patent for an exchange system : https://www.coindesk.com/bank-of-america-outlines-cryptocurrency-exchange-system-in-patent-award/
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