Crypto is dead because credit card companies stop crypto purchases

[Digital Drug Lord]

There will never be highs as high as we saw in 2017.the common person won't be able to buy crypto with credit. Add to that strick crypto tax laws and you will see it's not worth it to buy crypto now is the time to sell sell sell, before your left with tulips.people are waking up to the nightmare called the IRS and the tax people. They owe the credit cards for buying $10,000 worth of ripple when it was $3.00....they owe the IRS for the any "profits" they made.

Dont buy any over priced video cards it's only going to get worse.

Bitcoin will go down to $1500 a coin by the end of 2018


https://medium.com/@coinloop/the-real-reason-why-credit-card-companies-are-banning-bitcoin-purchases-a75315c2b060

Major banks around the world have started banning purchases of Bitcoin and other cryptocurrencies on credit including banks in the United States, United Kingdom, Australia, Canada and Europe. There have been a number of reasons behind the ban with most banks opting that they are trying to protect their customers from a risky unregulated market. Massive returns on cryptocurrency markets in 2017 saw so much growth that major exchanges had to block users making accounts due to not being able to keep up with demand.

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[dhouse]

tulips? shut the fuck up

[Permonik]

I do not get it... Where is the catch?
If you have a problem with credit card, so just use your debit card.

[Digital Drug Lord]

tulips? shut the fuck up

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you keep holding your coins?

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you keep buying coins?

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you buy 24 1080tis at $999.99 to mine?

We go ahead then. Invest. Keep thinking 2017 highs are coming coming back soon...keep thinking things will get better now that billions of investors have been locked out of crypto buying

[Amph]

you must be new here, this is a common pump and dump

also bitcoin is backed by japan, will never die

[gotminer]

tulips? shut the fuck up

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you keep holding your coins?

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you keep buying coins?

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you buy 24 1080tis at $999.99 to mine?

We go ahead then. Invest. Keep thinking 2017 highs are coming coming back soon...keep thinking things will get better now that billions of investors have been locked out of crypto buying

No.  That's how I treat morons like yourself ... 

[N2DCRYPT]

We go ahead then. Invest. Keep thinking 2017 highs are coming coming back soon...keep thinking things will get better now that billions of investors have been locked out of crypto buying

If the only way you can buy crypto is through buying on credit, you're not an investor, you're a debt slave.

[yrk1957]

There will never be highs as high as we saw in 2017.the common person won't be able to buy crypto with credit. Add to that strick crypto tax laws and you will see it's not worth it to buy crypto now is the time to sell sell sell, before your left with tulips.people are waking up to the nightmare called the IRS and the tax people. They owe the credit cards for buying $10,000 worth of ripple when it was $3.00....they owe the IRS for the any "profits" they made.

Dont buy any over priced video cards it's only going to get worse.

Bitcoin will go down to $1500 a coin by the end of 2018


https://medium.com/@coinloop/the-real-reason-why-credit-card-companies-are-banning-bitcoin-purchases-a75315c2b060

Major banks around the world have started banning purchases of Bitcoin and other cryptocurrencies on credit including banks in the United States, United Kingdom, Australia, Canada and Europe. There have been a number of reasons behind the ban with most banks opting that they are trying to protect their customers from a risky unregulated market. Massive returns on cryptocurrency markets in 2017 saw so much growth that major exchanges had to block users making accounts due to not being able to keep up with demand.

Did you even bother to read the conclusion in the link you posted?

[Geraldo]

Dont buy any over priced video cards it's only going to get worse.

Bitcoin will go down to $1500 a coin by the end of 2018

Even Bitcoin nor other coins haven't value before. Then why we scared? Except you buy some coins on the top,  . Whatever coin prices, will not affect the traders at all, they only need dump and pump at whatever price.

And how about miners?
Which miner? Impromptu miner? Yeah, seems like they would giving up soon. And miners that can survive will get advantage from it, even when coin price drop.

Did you know?
Not all miner buying Cards at a crazy price (including me of course)

[dhouse]

tulips? shut the fuck up

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you keep holding your coins?

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you keep buying coins?

Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you buy 24 1080tis at $999.99 to mine?

We go ahead then. Invest. Keep thinking 2017 highs are coming coming back soon...keep thinking things will get better now that billions of investors have been locked out of crypto buying

tulips lol

[fanatic26]

Stupidity like this should be permabanned from posting. I have never seen you once post anything useful, just these garbage posts with clickbait titles.

[swogerino]

It is just a correction in the price, volatility is very common and is what defines bitcoin as a currency. Credit card companies haven't stopped anyone to buy crypto, they only put a "somewhat law" that you should buy from well known vendors.

As far as I know Coinmama supports buying crypto with credit card and everyone can use their service to buy crypto. Their fees are high but that is another topic.

[gotminer]

It is just a correction in the price, volatility is very common and is what defines bitcoin as a currency. Credit card companies haven't stopped anyone to buy crypto, they only put a "somewhat law" that you should buy from well known vendors.

As far as I know Coinmama supports buying crypto with credit card and everyone can use their service to buy crypto. Their fees are high but that is another topic.

JP Morgan Chase and BOA (in the usa) do not allow crypto purchases with credit cards.  If you go to CoinBase and try to buy BTC with one of their credit cards, it will get denied.  Not that I think anyone should be buying crypto on high interest credit, but just wanted to clear that up.

[swogerino]

It is just a correction in the price, volatility is very common and is what defines bitcoin as a currency. Credit card companies haven't stopped anyone to buy crypto, they only put a "somewhat law" that you should buy from well known vendors.

As far as I know Coinmama supports buying crypto with credit card and everyone can use their service to buy crypto. Their fees are high but that is another topic.

JP Morgan Chase and BOA (in the usa) do not allow crypto purchases with credit cards.  If you go to CoinBase and try to buy BTC with one of their credit cards, it will get denied.  Not that I think anyone should be buying crypto on high interest credit, but just wanted to clear that up.

That is why internet is great. Coinmama is not based in US so you can buy there through internet and through your credit card. What I want to point out that banks stopping payment with credit cards is not a reason why crypto is or will be dead.

Buying crypto with credit card is good, if you buy the dip it is the easiest way for you to make a profit.

[hummer113]

The crypto may come to an end, and there are many different reasons, some are more possible some less, but what is written in this article is not at all the reason.

[wheelz1200]

OP sorry but there is a long line ahead of you and we all laugh at each one of these remarks.  Bitcoin was dead in 2011, 2012, 2013, 2014, etc etc....and well how did that turn out for those future tellers.  If credit card banning of crypto is your biggest argument to why bitcoin is dead you need to dig deeper just a tad bit.  Thanks for trying though....and this belongs with the speculation sub spam as well please move this nonsense.

[NateDoggETH]

Banks banned Credit Card purchases for Crypto because they are missing out on a CASH ADVANCE FEE plus the HIGHER APR ON CASH ADVANCE FEES.

I know this because I am a banker at a USA bank.

Yes there are a lot of other reasons (some probably more important that the fees the banks are missing out on) that banks will not let you use "Credit" to buy Cryptocurrency.

The thing is, banks (yes not all of them) will allow you to use the money you worked for anyway you want to. It is very limited to what you cannot get with using our bank debit card


Credit=Money the banks trust you with but its not physically there

Hard earned dollars=the money you deposited into the account

[BennyT]

Jeez.. talk about someone joining a forum to spread FUD to the max. No clue on what crypto is or what it stands for.

This is the only the beginning. Except the laws and banks to clamp down even harder. And expect crypto to grow even stronger. I feel stupid to have to even clarify that around here.

[gotminer]

It is just a correction in the price, volatility is very common and is what defines bitcoin as a currency. Credit card companies haven't stopped anyone to buy crypto, they only put a "somewhat law" that you should buy from well known vendors.

As far as I know Coinmama supports buying crypto with credit card and everyone can use their service to buy crypto. Their fees are high but that is another topic.

JP Morgan Chase and BOA (in the usa) do not allow crypto purchases with credit cards.  If you go to CoinBase and try to buy BTC with one of their credit cards, it will get denied.  Not that I think anyone should be buying crypto on high interest credit, but just wanted to clear that up.

That is why internet is great. Coinmama is not based in US so you can buy there through internet and through your credit card. What I want to point out that banks stopping payment with credit cards is not a reason why crypto is or will be dead.

Buying crypto with credit card is good, if you buy the dip it is the easiest way for you to make a profit.

If they really wanted to, why wouldn't JP Morgan Chase and BOA just decline credit card transactions to Coinmama?  They can do whatever they want.  It's not your money that you're spending, it's theirs.  They are just letting you borrow it at a high interest rate.  The reason I don't like seeing people buy crypto with credit cards is because the majority of those doing it aren't doing any research whatsoever to even know anything about whether or not it's a good time to buy. 

Doesn't matter whether you buy a dip with credit or your own money.  Buying it with a credit card does not make it easier to make a profit ... Lol. 

And also ... You are correct.  The market isn't down, because some banks stopped people from running up their credit limits to buy crypto.

[gotminer]

Banks banned Credit Card purchases for Crypto because they are missing out on a CASH ADVANCE FEE plus the HIGHER APR ON CASH ADVANCE FEES.

I know this because I am a banker at a USA bank.

Yes there are a lot of other reasons (some probably more important that the fees the banks are missing out on) that banks will not let you use "Credit" to buy Cryptocurrency.

The thing is, banks (yes not all of them) will allow you to use the money you worked for anyway you want to. It is very limited to what you cannot get with using our bank debit card


Credit=Money the banks trust you with but its not physically there

Hard earned dollars=the money you deposited into the account

If I were the big banks, I would be more worried about people who have no idea what they're doing buying an extremely volatile asset on credit, market takes a down turn, they panic sell at a low point, bank never sees their money again.