Bitcoin Forum

I notice that there are a lot more exchanges etc that will take a credit card to buy bitcoin now. 1 year ago that was almost impossible. While I think it's great that 1 of the main barriers to investing in bitcoin is going away, I worry about bad publicity. When some of the get rich quick guy's run up 50k in credit card debt and cry to the media about losing everything etc etc...

Anyway, I wil just continue to buy 300$ or so a month worth of bitcoin. And hodl Hodl, HODL!

but with more users, the volatility will decrease, so there will be less crying, but i got your point.

There's a saying that no publicity is bad. If someone fucks up and goes to the media it will discourage some people but also more will hear of its existence. Believe or not but most people in the world don't even know what bitcoin is, just ask some old people and you'll see.

You should note whether there are any additional charges when you bitcoins using credit cards.

The guy mentioned by OP will have personal bankruptcy, lose credit rating and reputation. I don't think anyone want to be like that.

If there are lots of fees that a credit card may give if you used them to buy bitcoins, then you should consider buying directly to a personal seller. In this case, you can safely say that the seller is legit and there are no extra fees or whatsoever if you buy them bitcoins. And, also, invest on what you can afford to lose. After all, bitcoin isn't sure money at all.

I think the banks just see it as another opportunity to make money via credit card interests and they really don't see Bitcoin as a threat.

I think banks will work with apple pay only.

Indeed, that's what I always said to whoever thought banks will oppose Bitcoin, at least in its infancy. Banks always look for new ways to make money and they often enter grey areas as a source of liquidity; in the future things may change, but I still think banks will change the way they do business instead of directly attacking Bitcoin.

My bank already told me to not purchase bitcoin with my account and I live in midddle Europe.

short answer: nothing.
best solution: buy low, sell high, take the profits and run  ::)

Going into debt as an investment is so 1990's tech bubblish. Just buy some bitcoin with some of the money you would otherwise save anyway and hold on to it. If you run 50k in debt to buy bitcoin you kind of deserve whatever happens to you.

banks currently make use of bitcoin transactions are always rejected, for some reason, but it seems like the banks are not too disadvantaged because of the nature of the free bitcoin transfer facility anywhere and anytime, ownership of the bitcoin anonymity has made more uncomfortable bank account without going to the ownership of identity, as we know that when we create an account in the bank, all the personal data we should be clear and detailed, while the bitcoin all it can be ignored ...  ;D

Nothing happened, companies just got better at risk management in being able to weed out most people who are trying to use a stolen credit card to buy bitcoin.

The cost of using your credit card at these sites is still much more then it is worth and it makes more sense to use a traditional exchange (even if that means that you need to take a cash advance on your credit card to fund the exhcnage)

Just hold your bitcoins till they are at least 2x times from now. But for sure it's going to take longer than most people anticipated.

Don't worry about bad publicity, what could be worse than the MtGox drama? Nothing.

Wise decision to hold your coins, just enjoy, and see your coins getting worth more year by year.