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/biz/ - Business & Finance

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5937613 No.5937613 [Reply] [Original]

This is guys, the banks finally realized that crypto would bring the actual banking system to an end and they are trying to shut us down, first, by making VISA, the principal issuer of cards, stop any crypto related card activity.

They have started a war, it's our turn to fight back.

Also, let's discuss the other options one have, to withdraw its btcs/eth without drawing too much attention from institutions. Let's say someone wants to cash in 100k$, what would be the best way to exchange crypto for fiat now that all these cards became obsolete.

One of the things I have in mind is localbitcoin.com site, where you meet in person with the other person and you simply ask for cash, not an idela solution, but definitely possible.

>> No.5938020

>>5937613
>by making VISA, the principal issuer of cards, stop any crypto related card activity.
Shourshe?

>> No.5938188

How easy is it to open an offshore bank account?

You could then cash out to this account and use a Visa card attached to it I guess.

>> No.5938504
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5938504

>>5938020
This e-mail I've received from Wirex, also other cards like Xapo, all cancelled.

>> No.5938553

>>5938020
I got this mail from TenX today:

>On 4 Jan 2018, our European card issuer — Wave Crest Holdings Ltd. — received direction from Visa® to to stop payments of all prepaid Visa® debit card programs effective immediately, which our current TenX Card program falls under.

Not heard anything from any other crypto card companies, though.

>> No.5938641

>>5938553
Scratch that. Cryptopay.me has also ceased all prepaid cards starting today.

>> No.5938654

>>5938553
Basically, every company that worked with prepaid VISA cards obtained through WaveCrest stopped. What do we do?

>> No.5938762
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5938762

>>5937613
>>5937613

see this:
>>5554083
you're welcome

>> No.5938925
File: 43 KB, 429x360, 1478032731519.jpg [View same] [iqdb] [saucenao] [google]
5938925

>>5938654
REQ functioning as it's supposed to would solve the problem by taking VISA and Mastercard out of the equation. But it's going to be at least another 6 months before they've added fiat.

>tfw REQ unironically becomes the savior of the crypto world

>> No.5939085

>>5938925
Also spoke to customer service at Cryptopay. Unless they're lying pieces of shit, it seems they had a backup plan in case this would happen.

>> No.5939089

>>5938925
Holy mother of GOD...I hold a lot of REQ

>> No.5939178

>>5938925
Long on REQ and XLM
I'm prepared

>> No.5939203

>>5937613
I think the best thing to do is follow the dark web example. Start having people accept bitcoin and others for actual goods and services. It just takes a few.

Oh you want a new car? We accept bitcoin
You want a new house? We accept bitcoin
You're buying groceries? We accept bitcoin

and on and on and on, we have to wrestle dominance from the banks and the dollar, no one said this would be easy

>> No.5939287

>>5939203
>hi norman

>> No.5939330

it depends if visa is shutting down all crypto services or just cancelling wavecrest because of their location + new requirements based on where they are

i doubt they'll be able to shut this down entirely though, crypto is effectively not involved as far as visa is concerned, all the risk is taken by the company offering you the card. they accept crypto, convert it themselves. wavecrest/visa takes less risk than other types of processors because there's no chargebacks for crypto.

>> No.5939342

We need to issue our own cards
With hookers and blackjack

Pay with crypto, with your phone to another phone. Instant and free.

We need RaiBlocks on phones.
We need Request for shits and giggles.

We need to print plastic cards with pepe on it for credibility

>> No.5939399

4 months waiting for that tenx piece of shit completely in vain...

Fuck visa

>> No.5939405

>>5937613
does this have anything to do with Visa introducing blockchain technologies in 2018??? Just read a whole article they posted il get the sauce quick

>> No.5939582

Real man's money. Business man's money. Government man's money. Military man's money. XRP.

>> No.5939626

>>5939399
tenx is vapor, before it launched there were 10 other cards. avoid any ico shit and stick to real businesses.

ill be looking to see which real provider has new cards shipped out the fastest, and go with them.

>> No.5939636

Gas the kikes?

>> No.5939711

>>5939626
In the meantime, until someone comes up with a solution, expect billions of dollars to start flowing back into the markets as people drain their accounts in these companies.

I've got 5 BTC going back to Binance now.

>> No.5939717

This is why we need ripple

*smugface.jpg*

>> No.5939799

>>5939711
hahahahha
faggots

serves them right for trying to use existing BANKSTER systems

instead of pushing CRYPTOCURRENCY

>> No.5939866

Lmao

>Retards thought that they could evade taxes with anonymous crypto debit cards.

Visa has sold you. All of your info is going to your local tax authorities.

>> No.5940040

>>5939711
doubt it'll affect the markets, apart from the shittokens of these card "companies" like tenx.

>>5939866
its not even about tax, visa wouldn't shut down a single company for tax reasons. and apparently this is EU only too, and i dont know how europe is for crypto taxes but they cant be as bad as we are in the US

>> No.5940114

>using visa products

cucked

>> No.5940126

>>5939342
>pepe on it for credibility
the best part about this statement is that it's true. Pepe has more credibility than the pedo papers they are printing

>> No.5940173

>>5940040
>but they cant be as bad as we are in the US

You'd be surprised. 25% VAT on cryptos, and then 30% capital gains tax on top of that certain places in Europe.

>> No.5940241

>>5938925
So how req can take visa out of equation, genius?

>> No.5940254

>>5940173
but do they have an IRS going after everyone like we do? that would be the only reason to shut cards down for tax

>> No.5940358

I hate Boomers so much.

>> No.5940386

>>5940241
REQ is a door to go in and out of crypto or even FIAT with almost no fees. Think about it, ALL world and digital currencies can move freely and trade freely with each other on the REQ network, its beautiful for people with patience.

>> No.5940407

>>5940241
Have you even read the whitepaper? REQ will essentially a currency-swap through the kyber network of crypto, ERC20 and fiat.

You pay with shitcoin #22, and I receive USD.
I pay with Euro, and you receive shitcoin #584.

>> No.5940429

BNT will fix this.

>> No.5940634

>>5940429
they have no solution for any of this

>> No.5940652

>>5940407
More than that bro
Shit you could pay some fucker in airline miles and they get dollars.

I wish REQ was on bittrex bc it’s literally the most exciting project in cryptos.

>> No.5940674
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5940674

I'm daytrading doing the right moves, consistently making profit but I can only do it with peanut money, gaining 20$ here 15$ there.
The moment I try to do the same with 2x the amount to make serious gainz I shit the bed.
Help me /biz/

>> No.5940726

>>5940674
wrong thread bro

>> No.5940781

>>5940634
they will provide total and instant fiat/crypto liquidity via their website and app... it will be like the costco of crypto.

>> No.5940827

>>5940781
they still need a payment processor, thats the choke point for all of these services. and thats no different to using an exchange with an app.

the cards mean you can top your shit up once every X days and just spend shit day to day like normal. with a card like that you can get away without even using a bank entirely

>> No.5940843
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5940843

SOLUTION, BUT DON'T DO THIS, IT'S ILLEGAL. I REPEAT, DON'T DO THIS, IT'S ILLEGAL AND THEORETICAL.

>Set up company in Panama through law firm (with you holding PoA). Costs approximately $4000. Yearly fee of approximately $1500
>Set up corporate bank account outside of Panama (for 0% capital gains tax). Cayman Islands is the best
>Withdraw all crypto sales to corporate bank account
>No reports of these funds have to be shown to Panamanian authorities, since the income was generated outside of Panama
>Use corporate debit card and online bank to do whatever the fuck you want

AGAIN, DON'T DO THIS. IT'S ILLEGAL MOST PLACES.

>> No.5940880

>>5937613
Banks are afraid, but once one nations starts issuing its own money in crypto the trend will explode worldwide, it is the inevitability of technology

>> No.5940974

>>5940843
>BUT DON'T DO THIS, IT'S ILLEGAL.

LOl no it's not. That's what the Panama papers were about. No one went to jail besides some Pakistani minister.

>> No.5941002

>>5940827
First I want to acknowledge that you are making good points. But Stripe already takes BTC... other payment processors will follow suit sooner rather than later.

>> No.5941019

>>5940843
cashing out is still the problem tho. exchanges need KYC, and if youre withdrawing a fuckload of money theyre probably going to deny it without jumping through hoops and showing tax statements and shit

>> No.5941106

>>5941002
follow suit in which way, banning shit, or more official ways of accepting btc? because i doubt cards are going to have a harder time that stripe when it comes to accepting shit.

>> No.5941161

>>5939203
This. It starts small, local shops accepting bitcoin for baked goods, for commodities
Then for electronics
Then cars
Then houses
We won't need to cash out, and there'll be no need for fiat
Of course, the government will probably just making trading crypto illegal under the guise of
>muh deepweb drugs
>muh terrorism funding
Etc

>> No.5941330

>>5941106
I meant following suit in accepting BTC.
Maybe I'm missing something but with Stripe now at least for online transactions you can just use your phone to scan a QR code provided at checkout. Then you validate the transaction via whatever wallet you have on your phone.

>> No.5941412

>>5941161
>do you accept bitcoin here?
>no we only accept cash... bitcoin cash *winks*
>you wink back
>Roger ver walks by outside window with a smerk

>> No.5941421

>>5940386
Still doesn't explain how to get fiat out or in. niether how it will make visa obsolete. Try again

>> No.5941450

>>5941412
kekd

>> No.5941470

>>5941330
well yeah, the trend is definitely going to be more shit accepting it than not, the flood gates are open with ETFs and futures now.

>> No.5941474

>>5940652
Thats OMG

>> No.5941518

>>5941421
req doesnt solve shit, closed systems just arent going to be useful for many years

>> No.5941939

>>5940241
"How can Paypal take Visa out of the equation?"

>> No.5942059

>>5941939
>>5941518
>>5941421
Here you go, hope its not too much reading for you. REQ is a great long term hold if you have 1000 tokens or more https://hackernoon.com/request-network-is-more-than-just-paypal-2-0-it-could-revolutionize-the-finance-world-87b54bb455

>> No.5942095

Does this have anything to do with my bank not allowing me to use a debit card to buy on Coinbase but allowing me to do ACH?

>> No.5942328

>>5938188
A few thousand in lawyer fee's

>> No.5942429

>>5937613
if they will shut down down others with a better service will appear
VISA crypto cards will be replaced in seconds

>> No.5942724

>>5942059
1000 tokens or more you say.. fuckin jeet

>> No.5942887

nah just wait for STK and just use their mastercard

>> No.5942901

>>5937613
>banking system to an end and they are trying to shut us down
>it's our turn to fight back
>cash in 100k$
Are you baiting?

>> No.5942967

You're still thinking in old-world solutions.

Fuck these banks.

ideality it would work like this:
> you buy stuff from company with Crypto
> company pays employees with Crypto
> employees buy thing from other companies with Crypto
> repeat

This going back and forth to paper money has to stop at some point. Instead of cashing out, try to buy from companies that support Crypto. Go work for a company that supports Crypto. Ask to be paid in Crypto