Obama’s credit card denied at restaurant

[ijphlrnxewho]

Here's an example of why people need decentralized currency.
When you trust bankers with your money, they can steal it, and shut off your card at any time.
This is how they've been controlling people for decades.

Obama’s credit card denied at restaurant
http://www.washingtontimes.com/news/2014/oct/17/obamas-credit-card-rejected-new-york-trip/

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[R2D221]

The problem is that it will be forgotten as a funny anecdote (at least for people who are not supporting Bitcoin right now).

[Spoetnik]

good points !
Bitcoin would not have had this problem.. an interesting story too
i wonder what his credit limit is ?

[Daniel91]

good points !
Bitcoin would not have had this problem.. an interesting story too
i wonder what his credit limit is ?

It seems bankers are republicans and don't like Obama
Any way, this is good example why is better to have decentralized money, and avoid ''middle man'', banks.

[EFS]

Obama is using credit card, really? Our politicians never pay for anything. They even get paid for eating there.

[chennan]

good points !
Bitcoin would not have had this problem.. an interesting story too
i wonder what his credit limit is ?

but bitcoin offers credit to bicoiners who can't spend from nothing. The beaty of using bitcoin is that it is under the control of your hands without being arbitrarily charged.

[catecoco]

Obama is using credit card, really? Our politicians never pay for anything. They even get paid for eating there.

Where are you from ? ....so nice country!

[runam0k]

Obama's credit card declined, Bernake failing to refi his mortgage, what next?

[Bit_Happy]

"“Apparently they thought there was some fraud going on,” Mr. Obama joked at a meeting Friday..."
^^^ Now he's getting closer to the truth

Obama's credit card declined, Bernake failing to refi his mortgage, what next?

Did the restaurant hold his ID and make him come back later to pay?  

[JLynn171]

I was under the assumption the President got everything for free lol I never pictured the President having to buy anything, much less his credit not being good...

[Lauda]

And now the question remains, how does one not see the benefits of using Bitcoin?
I always get a bit worried when I'm far away with no cash and trying to pay for a load of stuff using CC..

[faince222]

someone have to said to Obama that if he had used bitcoin, he hadn't have this problem !  Anyway, is ridicolous that someone denied a payment to the powerful man of world and president of US !

[FattyMcButterpants]

Obama is using credit card, really? Our politicians never pay for anything. They even get paid for eating there.

It is very rare that any politician will every pay for a meal as they often will eat at fundraisers when people that attend the fundraiser will pay thousands of dollars to eat with the politician. Obama has shown to be one of the more corrupt politicians (plus him being from the most corrupt city - Chicago) would lead me to believe that he participates in this kind of fundraising more often then most other politicians.

He either made up the story or for some unknown reason decided it was time to pay for something himself

[Velkro]

Bankers are not only evil, they sometimes keep your money safe, better than bitcoin.
Its truth :/, sadly...

[uininPeter]

but bitcoin offers credit to bicoiners who can't spend from nothing. The beaty of using bitcoin is that it is under the control of your hands without being arbitrarily charged.

Obviously mr. president have no problem creating more debts.

[runam0k]

Bankers are not only evil, they sometimes keep your money safe, better than bitcoin.
Its truth :/, sadly...

Nothing to do with keeping it safe, rather they are trying to limit their own costs/liabilities in respect of the massive amount of cc fraud that occurs daily that would be virtually impossible with Bitcoin.

Besides, they don't keep your money safe. They promptly lend it out and/or gamble with it.

[malaimult]

just recently my credit card was locked because my bank decided that my recent transactions to circle.com were suspicious. i had to call them in order to get it unlocked. no notification was sent to me and i only discovered this after trying to make a purchase at a store. very embarassing and frustrating that i have to deal with this despite already paying them all those "banking service" fees!!!

[bitsmichel]

someone have to said to Obama that if he had used bitcoin, he hadn't have this problem !  Anyway, is ridicolous that someone denied a payment to the powerful man of world and president of US !

Bankers are more powerful than our president.

[Beliathon]

I was under the assumption the President got everything for free lol I never pictured the President having to buy anything, much less his credit not being good...

He's a president, not a king. Or at least, that's how it's supposed to be...  

I swear there used to be a difference..

Bankers are more powerful than our president.

Well yeah, they're his boss.

[redsn0w]

Another thing for choose to use bitcoin ! Thanks @satoshi  .

[serje]

good points !
Bitcoin would not have had this problem.. an interesting story too
i wonder what his credit limit is ?

It doesn't matter what his limit is ... the card was denied because he didn't used it, and if you don't use your credit card the bank can't charge you ... on a credit card you don't have your money you have banks money ...

In my country there was a promotion to get a credit card and if you make purchases of around 5000 euros you would get 500 back only if you pay back before 29 days witch is pretty impossible if you don't have some economy account with more than 5000 .... so a friend went to the bank and applied for the card because he was renovating his home and thought 500 euros will be good, but guess what ... they denied his request telling him that his isn't qualifying for the card.

Wanna know the real reason? He has an economy account of 30.000 euros at that bank!!!!

Fuck banks!!!

[brian_23452]

Here's an example of why people need decentralized currency.
When you trust bankers with your money, they can steal it, and shut off your card at any time.
This is how they've been controlling people for decades.

Obama’s credit card denied at restaurant
http://www.washingtontimes.com/news/2014/oct/17/obamas-credit-card-rejected-new-york-trip/

You do realize that a credit card isn't currency at all?  "when you trust bankers with your money..."  It isn't your money, it's the banks.  It's a loan.  With no collateral.  You can't do that with bitcoin at all, so how are these two things even remotely comparable?

[keithers]

Obama has bad credit. Confirmed.

[oblivi]

The problem with Bitcoin is, asuming you are clever enough to not carry big quantities of BTC in your smartphone or in general around, you'll deposit there (from your main wallet at home) the money you are going to spend for the day. Say you go to a restaurant and go with 0.3 to pay for it. Say the restaurant its 2 hours away from home. Now, imagine during these 2 hours, there is one of these random ass price crashes/rises that happen all the time with Bitcoin. If the price goes down, you may not be able to pay for it. It's a pain in the ass to use something as volatile to do everyday expenses.

[kimchi64]

@oblivi

agreed, even if you do tend to use decentralized currency as money you rely on, as more countries begin to start accepting bitcoin as a currency, bitcoin prices are going to drop

[CoinTraders.club]

Unfortunately, the general public will not see this issue as a reason to adopt Bitcoins.

Banks have mechanisms in place that protect card holders from fraud and theft, as well as to protect themselves.
This was more of a "Blooper" caused by the bank's policies, rather than a show of control over the President's finances.

I do agree that mistakes like this one would not happen with Bitcoins, however, the rest of the world would not care to pay attention to that.

Keep in mind though... If a thief/hacker spends/steals your Bitcoins, you have basically no protection that would hold the thief accountable.
Your Bitcoins are gone, and no one is going to get them back for you.

While with Banks/Credit cards, there are spending limits, possible reversal of transactions, the thief can be more easily tracked, etc...

People in general, feel safer knowing that their money is being "Protected" by some higher authority, with Banks/Credit Cards.

I'm just pointing out that the Bitcoin community still needs to do a lot more, to be able to convince regular people that Bitcoins are a safer and smarter alternative.

[leannemckim46]

Someone should tell Obama to switch to xapo credit card powered by BTC

[kingscrown]

wore if obama forgot his wallet encryption PW

[frankenmint]

I understand why it happened - this probably happens more often than the media gives credit for to celebrities.  I suppose the question to ask is:  "Is it fair that a celebrity or public figure whose identity be subjugated to having to prep a merchant processor that they are going to be buying goods services in advance to prove that they are not an impostor?"

I think its not fair.

[leannemckim46]

wore if obama forgot his wallet encryption PW

Don't you think NSA cant hack it 

[bitcoinaarush]

wore if obama forgot his wallet encryption PW

Don't you think NSA cant hack it 

LOL... So who do you think is the most powerful, NSA or CIA? In terms of hacking

[stellar69]

Republican bankers
NEWS FLASH : OBAMA NOW USES BITCOIN AT RESTAURANTS

[stellar69]

wore if obama forgot his wallet encryption PW

Don't you think NSA cant hack it 

LOL... So who do you think is the most powerful, NSA or CIA? In terms of hacking

wore if obama forgot his wallet encryption PW

Don't you think NSA cant hack it 

LOL... So who do you think is the most powerful, NSA or CIA? In terms of hacking

Both are full of shit. They dont know hacking

[brian_23452]

wore if obama forgot his wallet encryption PW

Don't you think NSA cant hack it 

LOL... So who do you think is the most powerful, NSA or CIA? In terms of hacking

wore if obama forgot his wallet encryption PW

Don't you think NSA cant hack it 

LOL... So who do you think is the most powerful, NSA or CIA? In terms of hacking

Both are full of shit. They dont know hacking

 

[Jacobit]

Obama has bad credit . Confirmed.

[stellar69]

Obama has bad credit . Confirmed.

Obama is a loan defaulter

[countryfree]

This depends a lot on how a bank uses its profiling software. I have a card in my pocket which I haven't used for about 6 months, because I'm not in the right part of the world to use it, but I'm confident it will work when I'll work when I'll be back in the country it was issued.

I believe American banks don't want to take risks. When their software suddenly see a big transaction from a card which has been unused for a while, it blocks the deal without giving it a second thought. Swiss banks aren't like that.

[doubleredrolex]

Obama is using credit card, really? Our politicians never pay for anything. They even get paid for eating there.

Im sure your tax dollars go to cover the bill at the end of the month.

[Q7]

At least one good thing about bitcoin is that it don't let you spend money in advance. People get into debts with credit card so i don't see that going to happen with bitcoin. It will be a selling point on 'advantage of using btc'

[CoinTraders.club]

At least one good thing about bitcoin is that it don't let you spend money in advance. People get into debts with credit card so i don't see that going to happen with bitcoin. It will be a selling point on 'advantage of using btc'

That's a good point. I always preferred using Debit Cards.
I've never owned a Credit Card in my life, only Debit Cards, so I can't spend money that I don't have.

Unfortunately though, the majority of cardholders worldwide are still using Credit Cards over Debit Cards (even though this is slowly changing).
So this probably won't appear to be an "Advantage" to most of them.

Most people are willing to "gamble", spending money they don't yet have, to satisfy instant gratification, because they feel that they need "this and that" right NOW.

They may see Bitcoins as a "Limitation" to freely spending and "enjoying" their lives the way they want to.
Only the more responsible portion of the population, will appreciate this Advantage of Bitcoins.

[sifter]

That was a very good ending nevertheless cryptocurrency solves this problem easily,

[leex1528]

This is such a non story it isn't even funny.  This simply happened because he hadn't used his card forever and they deactivated it(Which is good because its easy to reactivate)

This can't happen in Bitcoin, but if you don't use a wallet for a long time and it gets hacked and your coins get lost....then its even worse then what happened here.

[redsn0w]

This is such a non story it isn't even funny.  This simply happened because he hadn't used his card forever and they deactivated it(Which is good because its easy to reactivate)

This can't happen in Bitcoin, but if you don't use a wallet for a long time and it gets hacked and your coins get lost....then its even worse then what happened here.

Bitcoin cannot be freezed , a credit Card : yes . This is the substantial difference between the current system/economy and the new  peer-to-peer electronic cash system <<bitcoin<< .

[leex1528]

Bitcoin cannot be freezed , a credit Card : yes . This is the substantial difference between the current system/economy and the new  peer-to-peer electronic cash system <<bitcoin<< .

I am aware of that, hence why I stated it in my original post?  You pretty much just repeated what I said?   Were you just agreeing with me in a weird way?

[redsn0w]

Bitcoin cannot be freezed , a credit Card : yes . This is the substantial difference between the current system/economy and the new  peer-to-peer electronic cash system <<bitcoin<<.

I am aware of that, hence why I stated it in my original post?  You pretty much just repeated what I said?   Were you just agreeing with me in a weird way?

I'm agree with your thinking (of course). I just wanted to repeat it (maybe barack right now  he is reading this thread  ).

[jennifer21]

Bitcoin cannot be freezed , a credit Card : yes . This is the substantial difference between the current system/economy and the new  peer-to-peer electronic cash system <<bitcoin<< .

I am aware of that, hence why I stated it in my original post?  You pretty much just repeated what I said?   Were you just agreeing with me in a weird way?

But when you are scammed and a person got your bitcoin, it is not easy to find the person again. If youre bitcoin are stolen, then you cannot find out who stole your coins.

[Cryptowatch.com]

I wonder what would happen if:

- Obama was not the president, but a random unknown regular black guy that just had a solid dinner at an upscale restaurant and had his cc rejected after finishing it all? Would the cops've been called on him?

[Gumbork]

I wonder what would happen if:

- Obama was not the president, but a random unknown regular black guy that just had a solid dinner at an upscale restaurant and had his cc rejected after finishing it all? Would the cops've been called on him?

No. If you read the entire article you would know that his wife used her credit card to pay for the meal. I am also fairly certain that this incident did not happen while Obama was president (although I am not 100% sure on this - the article does not give a timeline)

[blumangroup]

Bitcoin cannot be freezed , a credit Card : yes . This is the substantial difference between the current system/economy and the new  peer-to-peer electronic cash system <<bitcoin<< .

I am aware of that, hence why I stated it in my original post?  You pretty much just repeated what I said?   Were you just agreeing with me in a weird way?

But when you are scammed and a person got your bitcoin, it is not easy to find the person again. If youre bitcoin are stolen, then you cannot find out who stole your coins.

This is only true if they scam you via the internet (which is most common as of now). If you are scammed in person then you have a lot more to go on

[leex1528]

No. If you read the entire article you would know that his wife used her credit card to pay for the meal. I am also fairly certain that this incident did not happen while Obama was president (although I am not 100% sure on this - the article does not give a timeline)

Man, it was such a short short article and you didn't even read it??? 

On the FIRST LINE OF THE ARTICLE it states- 
President Barack Obama gets his change after paying for his lunch as he and Vice President Joe Biden make an unannounced visit to Ray’s Hell Burger in Arlington, Va., May 5, 2009. White House photo

So to sum up, yes he was president at the time and thanks for not even trying to read the article:)

[mullerdan]

Denied credit card at the restaurant ? I think its not an big problem for president ahah ! Yes one advantage more for choose to use bitcoin !

[leex1528]

Denied credit card at the restaurant ? I think its not an big problem for president ahah ! Yes one advantage more for choose to use bitcoin !

If you read the article you would realize how silly that statement is and why the card was canceled...

[Cryptowatch.com]

I wonder what would happen if:

- Obama was not the president, but a random unknown regular black guy that just had a solid dinner at an upscale restaurant and had his cc rejected after finishing it all? Would the cops've been called on him?

No. If you read the entire article you would know that his wife used her credit card to pay for the meal. I am also fairly certain that this incident did not happen while Obama was president (although I am not 100% sure on this - the article does not give a timeline)

I read the article in full.

Maybe I should've phrased myself differently.

My main point being that if you're the president, then every door is open for you. And any misunderstanding will always be handled and fixed promptly.

However, on the other hands, if you're not the president, but a random black man - you might not have such an easy time.

Here's some further reading: http://www.occupy.com/article/black-man-killed-us-every-28-hours-police

And here's a story about an italian lawyer arrested in New York, for forgetting his wallet when eating out at an upscale restaurant:
http://abcnews.go.com/blogs/lifestyle/2013/01/italian-tourist-arrested-at-steakhouse-after-forgetting-wallet/

From my own experiences with some staff of US companies, I've learned that some people, no matter what you say, will be hostile against you, perhaps they just don't like the way your look, based on race, gender, physical apperance, clothing, or their mood that particular day. And when you become frustrated and angry and raise your voice because of the situation, that's regarded as 'threatening' and then it's justifed to call the police. Never in my life did I ever have trouble with the police and never was I a threat to anyone, but yet still some people on ocassions have considered me as a threat.

The whole point is that some people are lower on the social ladder, and these are more easily picked on.

As for shutting off anyone's credit card, the reason is most likely automated systems, and it's nothing personal, and there's usually no difference if you're a janitor or a president, but where the preseident has countless exits when his card does not work, the single janitor with worn clothes might not have too many exits, and might as well be thrown into jail.

[Bit N Roll]

Well he is still a human being. That is cool to know that even the president of the US gets his card denied. That means there is fairness in this world

[bornil267645]

It would have been great if OBAMA had accepted Bitcoin and hang a signboard outside the white house that says "bitcoin is accepted here... "

[Cryptowatch.com]

Well he is still a human being. That is cool to know that even the president of the US gets his card denied. That means there is fairness in this world

As I can understand this argument from your standpoint, it's kind of a very odd statement to make.

Why?

Fact: All persons on this planet are human beings. That means they're all the same in the regard that they have needs (eating/sleeping/social needs etc.)

Fact: Most automated systems have certain rules programmed. These rules are attached to for example bank accounts.

Example: If you call your brother in Romania, and he makes a charge on your card, it is blocked according to policy, because of suspicious spending pattern, no matter who you are.

Another example: If you do not use a card over the next 12 months, it's blocked. This happens no matter who you are.

There are of course financial services that has more of a personal approach to accounts for rich people, and where everything is handled manually by a clerk.

So the next time you see a president, a film star, a football player or anyone else rich,  famous and powerful experiencing the same problem as an ordinary person, this is no indication that there's fairness in the world.

All of these are just normal people like you and me, they only are more resourceful. If you got a few million dollars, and your own TV program tomorrow, you would still be the same person physically, but people would view and treat you differently.

There's a sickness in our society where people that have resources are treated better because of who they are.

In fact, every day you can see there's a lot of examples that the world is a nasty unfair place. For example, highly religious people go to a war zone and gets raped and killed, but all they wanted to do was to help other people. A young boy gets killed by a truck. A promising young girl gets killed in a school shooting. You get hit by a random bullet going to a carneval.

There's no fairness in this world. The world is full of randomness and even if you always try to do what's right, this is no guarantee you will succeed. True, hard work can often bring you very far, and you're responsible for your own life, but frankly the famous person that does something good for others, like the famous fotball player that plays with the kids in his local town, or visiting a cancer ridden child at a hospital, that's not any more impressive than if you did it. It's not like when you reach a certain status in this world, which by the way is not worth more than the perception in the eyes of others, and in my eyes, if you're a president or a janitor, I would not care either way, I would treat you the same, and I would see  the human you are, and not the title attached to your name.

Seeing a famous person experiencing the same issues as a normal person and then concluding that there's fairness in this world, is basically flawed thinking.

This might come forward as harsh, that's not my intention. But please don't hold any famous person up as a God or a Semi-God, they're just humans with their positive and negative sides, as everyone else, which for whatever reason has achieved their current status among other humans.

Personally I am never envious of famous people, as I can imagine it can be quite difficult to be famous as you're constantly recognized, and even though they have more opportunities in life than most people, I don't think that automatically brings you happiness. Just look at the amount of famous and rich people that have struggled with narcotics, alcohol and other issues, even though they had plenty of money and people to help them.

The fact that some people look up to the rich and famous,and want to be like them, it's nothing but a mirage. It looks great from a distance, but once you get there, you realize that not everything is perfect, there's still problems in life, and being famous can bring with it its own sleeve of issues and problems.

Sometimes Obama will have a fight with Michelle, they will argue over issues concerning their children, and they will be angry at each other. Sometimes they will eat some food that was not top quality, and as a result they will have stomach pain, and sit on the toilett with a running stomach. Sometimes there's other physical pains, and yet other times, there's something or someone annoying them greatly. And sometimes they just simply don't get their way.

That's life for everyone. While money might make lots of things simpler, and while you can buy a great house, a great car and live a lifestyle that makes others envious, it does not mean that you're a happy person, or not even a good person. Many persons who have a constant need for attention often live in complete turmoil, they do not have peace within.

So please, don't envy the famous and rich, and don't feel relieved once a beautiful movie star has a bad hairday, or shows her face without makeup. If you look at the path many of these people has taken through life, while some was destined from success from birth, that's not true of everyone, and many of those who today are famous and rich, have had a very though struggle to get where they're at - and many others have tried and didn't succeed. Sometimes it's random whether an individual becomes a success, or a failure. But imo, the only failure is to never have tried, if you have ambitions.

[bitkilo]

That's pretty funny, did he pull out his phone and pay in bitcoin instead?
He should be using the nsa computers to mine some for himself, just incase the credit card fails again.

[Bitdrunk]

Bankers are not only evil, they sometimes keep your money safe, better than bitcoin.
Its truth :/, sadly...

ha... hahaha... hahahahahahah.  lol... good one brah.