Crypto is dead because credit card companies stop crypto purchases

[gotminer]

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.

He's just pissed that he bought the top and is going to have to wait a little longer to move out of his moms basement.

[adaseb]

The reason why banks are denying credit card purchases for crypto has nothing to do with the fear that "Bitcoin will put them out of business".

It's because many people get their credit card and bank account information stolen which is used to buy crypto which is never reversed.

There is provably like 10x people who got their credit card info stolen vs 1x who actually want to buy crypto so it's just easier to block all the transactions.

You can still buy Bitcoin by wire transfers, ATMs , localbitcoins, etc.

[dhouse]

you can use debit cards on coinbase 

[gotminer]

you can use debit cards on coinbase 

Debit cards are not credit cards. 

[wheelz1200]

Why is this even still being entertained.  If bitcoin is dead because you cant use credit cards to buy it its pretty worthless to begin with.  This has ZERO bearing on the utility and market of bitcoin and if it will survive or not.  Stop this nonsense.

[Digital Drug Lord]

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.

Yes all those years you mentioned there was no real regulations on crypto. Now miners are getting hit with crypto tax on their taxes this year... Don't report your crypto earnings and your looking at tax evasion charges

It's a new day and age and yesteryears gains don't apply anymore.

Funny thing is you can still use your credit card at a gambling casino... So it's the final nail in the coffin for crypto. Without investors being able to use credit cards to buy crypto there will be no bull run

I'm calling bullshit on any bull run that mysteriously just happens out of the blue

[lunobird]

So one way around to pay for crypto with credit like an american  bum you are.  Is to go out and buy nvidia cards on credit cards.  No cash advance fees, like you would get on coinbase,  You'll be hedge against a downtrend market and wont' get rekt.  You'll even get an equipment deduction when you do your taxes.  And if all else fails you can always sell ur gpus and probably break even.

This I think this is a much better way to average cost buy your coins into the market with your gpu mining rigs all funded by credit.  

An alternative is to pay for your day to day living cost on credit.  So by the time you get your paycheck you can quickly buy bitcoin cash and send it to bitmain to get an ethereum asic miner.

If your a good accountant you can win in the crypto mining game. But like most of us doing account work is no fun.

[JaredKaragen]

if someone charge-backs my Shift card, I can get crypto for visa..... lol.  I guess that's one way to look at it.

But, I think the credit companies choices are just them not wanting to loose the financial stranglehold on you;  since you are using their instrument to buy an instrument that frees you from their grip.

Just like;  imagine the day the FED and other huge banks buy into BTC and other crypto as well.....    This is where exponents come in; since their supply is limitless.

[gotminer]

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.

Yes all those years you mentioned there was no real regulations on crypto. Now miners are getting hit with crypto tax on their taxes this year... Don't report your crypto earnings and your looking at tax evasion charges

It's a new day and age and yesteryears gains don't apply anymore.

Funny thing is you can still use your credit card at a gambling casino... So it's the final nail in the coffin for crypto. Without investors being able to use credit cards to buy crypto there will be no bull run

I'm calling bullshit on any bull run that mysteriously just happens out of the blue

Grow up kid.  BTC doesn't need to be purchased with credit cards for any bull run to happen ... Lol.  Do you think institutional investors whip out their VISA card when they want to buy 500 BTC?  BTC does not need a bunch of irresponsible retail investors to blindly buy in for a bull run to happen any time in the future.

Also the IRS has been giving guidance on how to pay taxes on your crypto since 2014.  Where the fuck have you been?  Just because they are just now enforcing it, doesn't mean anyone who hasn't paid taxes in the past won't be fucked over, if they were stupid.

[mbdmbn]

This guy again You do make me laugh with your zero day FUD.

FYI, I can easily buy bitcoin right now with my credit card and even with Paypal, who would've thought that in the digital age you wouldn't be able to purchase the digital currency of your choice with your digits on your digital credit card.

Talking about digits, how about you put your "own" digits to better use, and be more productive, maybe by helping folks out here in the "Altcoin mining sub forum", rather than spreading nonsense about Bitcoin.

You might gain some respect that way, instead of people rightfully taking the piss out of your BS threads.

[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.

Yes all those years you mentioned there was no real regulations on crypto. Now miners are getting hit with crypto tax on their taxes this year... Don't report your crypto earnings and your looking at tax evasion charges

It's a new day and age and yesteryears gains don't apply anymore.

Funny thing is you can still use your credit card at a gambling casino... So it's the final nail in the coffin for crypto. Without investors being able to use credit cards to buy crypto there will be no bull run

I'm calling bullshit on any bull run that mysteriously just happens out of the blue

 Bitcoin isnt propped up by credit cards kid....sorry but bull runs and new money that pushes markets isnt credit cards if you think thats the case you are a moron.

[FFI2013]

Its credit cards but you can purchase btc and crypto related with debit cards the reason is people where buying btc with their credit cards than losing their ass and not making the payments thats why as usual its people who fuck shit up like lets take my whole 401k and through onto a ico than they never make the money back and go whining to uncle sam are you ready NEVER INVEST MORE THAN YOU CAN AFFORD TO LOOSE
http://fortune.com/2018/02/04/banks-ban-buying-bitcoin-credit-card/

[gotminer]

Its credit cards but you can purchase btc and crypto related with debit cards the reason is people where buying btc with their credit cards than losing their ass and not making the payments thats why as usual its people who fuck shit up like lets take my whole 401k and through onto a ico than they never make the money back and go whining to uncle sam are you ready NEVER INVEST MORE THAN YOU CAN AFFORD TO LOOSE
http://fortune.com/2018/02/04/banks-ban-buying-bitcoin-credit-card/

Agreed.  Debit cards are connected to your checking account.  That is your money.  Same as doing a wire or ACH transfer from a checking account.  Credit card limits ... NOT YOUR MONEY!!!  It's the money of the card issuing bank and they are allowing you to spend it at a high interest rate.  Who the fuck doesn't know this shit?  Obviously the OP doesn't get it.  

I actually just spoke with someone at a local crypto meetup yesterday that cashed out all of his 401K in December of 2017 and put it in BTC.  He is 50 some percent down currently.  Good move or bad move?  Not sure.  Time will tell.  It was his own money and he isn't selling his btc.  From what I gathered, he'll ride it to zero before he sells at a loss and that's the mindset you need to have, if you're going to do something like that.  I don't know how much money it was, but he was a younger guy, so maybe not much ... Me personally, I'd be willing to risk 20% of my 401k holdings on crypto.  I haven't done it and wouldn't recommend it, but that would be my personal decision, if I didn't have other savings and income to put into crypto.  Some people say that you shouldn't put more than 10% of your total investment portfolio into crypto ... I say 20%, but to each their own.  

The VERY bottom line is exactly what you said ... Don't put more into crypto than you are OK with losing.  

[Riptide_NVN]

Digital FUD Lord at it again eh?

Him and Metroid really need to adjust that attitude. Much negative waves. Much whine.

[gizmodo1987]

Digital FUD Lord at it again eh?

Him and Metroid really need to adjust that attitude. Much negative waves. Much whine.

Hahaha exactly! He must be new in crypto if that's his speculations.  Their negativety will not win against the force of crypto lovers.  We are just in Q1 a lot more will happen in crypto world this year.

[papampi]

Mogo just opened a buy and sell bitcoin with credit cards for Canadians

Buy and sell bitcoin with no funding and withdrawal fees

[Ayston]

You can say that but now a days we have ICO who are specialize in linking visa card and  Debit card or bank directly in purchasing tokens from ICO or exchanger as long as you have account with them, If I remember it correctly it was Centra.

[Didi CC]

Funny post again,

The same guy who just 2 3 months ago was wining that he couldn't buy enough GPU.

Maybe a little reminder and I know it's hard to get your head around, but listen,
the world is bigger then just the US of A. 

Realy, it is.
In the EU, still possible to buy with Credit Card, the Eu is a bigger market then the USA.
Then we have South Korea, Japan, China all of them very strong Crypto countries.

Which Tax ? Because you have to pay, why would we, we don't apply to the IRS, so for the most outside the USA, no problem there yet.
The world is bigger then the basement you live in m8, and sorry you didn't make enough with your GPU to get out out of there

But stop making stupid posts that are full of FUD, because the world is much bigger then the little world you live in. 

[Digital Drug Lord]

Funny post again,

The same guy who just 2 3 months ago was wining that he couldn't buy enough GPU.

Maybe a little reminder and I know it's hard to get your head around, but listen,
the world is bigger then just the US of A. 

Realy, it is.
In the EU, still possible to buy with Credit Card, the Eu is a bigger market then the USA.
Then we have South Korea, Japan, China all of them very strong Crypto countries.

Which Tax ? Because you have to pay, why would we, we don't apply to the IRS, so for the most outside the USA, no problem there yet.
The world is bigger then the basement you live in m8, and sorry you didn't make enough with your GPU to get out out of there

But stop making stupid posts that are full of FUD, because the world is much bigger then the little world you live in. 

Bullshit it was American investors that pushed the crypto to the 2017 levels

Everyone cashed out to avoid the crypto taxes and it caused the crash

Where is the rest of the worlds volume? Surely Japan south Korea China and the eu would have enough volume to make up


But no, nothing...markets been dead.

If we enter a global depression bit coin is going to a Penny

[Didi CC]

Show me the numbers boy 

And I am not the lazy type, so if you provide me with the google results backing up your story, I will read that.
For you it's dead, for the smart ones there is still lots of money to make