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/biz/ - Business & Finance

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7306154 No.7306154 [Reply] [Original]

UK banks ban Bitcoin, starting on Monday.

>> No.7306178

>>7306154
Rothschilds stay mad

>> No.7306185

http://www.bbc.co.uk/news/business-42940728

>> No.7306188

>>7306154
Good, German banks are better

>> No.7306208

credit cards
they don't wanna lose their money
debit is fine
i'm loading up no eth/btc

>> No.7306209

>UK banks ban bitcoin
or
>one UK bank bans purchases of bitcoin on credit cards

>> No.7306215

>>7306154
No. They aren't loaning money for BTC purchases, they aren't banning anything. You fucking bitcucks and your victim complex.

>> No.7306222

CREDIT CARDS DUMB FUCK

>> No.7306226
File: 20 KB, 306x306, 79e0f76f22f429dc6a79ebbe8f3b484d.jpg [View same] [iqdb] [saucenao] [google]
7306226

>>7306154
>OP:UK banks ban Bitcoin
>article: bank bans Bitcoin purchases on credit cards

>> No.7306227

>>7306154

Learn to read. Same thing with some banks in the US for Mastercard/Visa. Banning credit purchases, not people transferring from their bank accounts. This is fine since so many fucking morons max out their credit cards on this shit.

>> No.7306238

They don't want the public hoarding all the BTC

>> No.7306257

>>7306154
Credit cards only faggot

>> No.7306262

Capital One did the same thing as well as a few others. I realized when I tried to buy $2500 worth of LTC for dat instant on CB just to pay it off immediately

>> No.7306291

oyyy veyy, these internet money are very dangerous for you goys, we will look after you, we will keep you safe

>> No.7306328

>>7306209
>>7306226
Learn to read, faggots

"The ban, starting on Monday, applies to Lloyds Bank, Bank of Scotland, Halifax and MBNA customers."

>> No.7306346

I don't fucking blame them, the crypto market is so unpredictable it's not worth the risk for them.

Remember, it's their money you're playing with. Not yours.

>> No.7306370

soooo... this should affect the market within the next few hours?

>> No.7306376

>>7306208
>i'm loading up no eth/btc
retarded faggot

>> No.7306398

>>7306328
What part about credit cards do you not understand anon?

>> No.7306430

>>7306154
>people complain about bubbles like student loans and morgatges being propped up because people don’t pay back
>people mad banks aren’t going to overinflate crypto the same way

>> No.7306495
File: 432 KB, 403x672, top job.png [View same] [iqdb] [saucenao] [google]
7306495

>>7306346
>thinking a bank legitimately gives a flying fuck what you buy with a credit card

>not spotting that traditional banks might find cryptocurrency a worry for their business model

>> No.7306511
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7306511

>>7306328
>Learn to read, faggots
How stupid can you be?

>> No.7306571

>>7306495
>banks are worried about crypto
This is just the most fucking retarded thing people parrot about crypto. If they saw it as a threat they would just reach into their bottomless pockets and buy it all up. Then they would switch over to crypto while everyone else is stuck holding useless currency.

>> No.7306604

I don't see how this qualifies as FUD. As far as I'm concerned, the harder it is to acquire Bitcoin the more valuable my stash is. The normies have had a taste. This slump won't last forever and we'll be riding the green spikes again. At that point, this can only enhance the pumps.

>> No.7306624

>>7306328
fucking retarded..

>> No.7306686

>>7306227
>This is fine since so many fucking morons max out their credit cards on this shit.
Haha I maxed out multiple credit cards on this shit and cashed out five figures of profit and payed them off, and that's with failing to time the top well. It's a fucking credit card, man. It's not like the bank has any more protection if the customer maxes it out the old fashined way on plane tickets and bar tabs. This is bad customer service.

>> No.7306720

>>7306154
C R E D I T

C A R D S

HOW MANY TIMES, YOU DENSE CUNTS. Every bank in existence has banned gambling on credit cards, you think this is a bad thing? This just shows the market is adapting to crypto, it's finally acknowledging it's existence. This is honestly positive news.

>> No.7306735

cant buy stocks on credit either

kill yourself op, you're going to be poor forever.

>> No.7306739

>>7306720
This

>> No.7306745

>>7306154
..so you can't buy crypto on credit? Who gives a fuck debit works, bank transfer works..

>> No.7306754

But if you want to buy box seats at a Manchester game go ahead

>> No.7306775

>>7306720
Anything that makes it harder for late adopters to buy in is not positive news.

>> No.7306776

>>7306571
the problem with your argument beyond sounding like it was written by an angsty teen is that if the banks put a huge sum into crypto at an attempt to crash it the price would sky rocket, the banks will have lost more than just the sum used to bring down the market, there would be multi millionaires made over night. they wouldnt allow that to happen

>> No.7306801
File: 114 KB, 549x413, kek.png [View same] [iqdb] [saucenao] [google]
7306801

>>7306328

>> No.7306823

Imagine if you could just buy money with credit cards and promise to pay them back later. Those are called cash advances.

>> No.7306912

>>7306154
Lloyds is by far the worst bank there is. It's always been absolutely shit. Serves anyone stupid enough to be using it right.

>> No.7306935

>>7306775
You should never, EVER buy crypto on credit. There is a reason banks don't allow gambling on credit, if they can't guarantee returns they aren't going to give you their money.

Imagine if a person you barely knew came up to you in the street and asked if he could borrow $1000 dollars so he could go place a bet, I get that you're not an actual bank but you can see why they'd be hesitant to borrow people money for this shit.

It's also really only bad right now if you want to cash out asap, this is good for the long term, just wait, the more understood and integrated crypto becomes the more your bags'll be worth in the coming years.

>> No.7306974

>2018
>Still using credit card

>> No.7307236

>>7306935
yeah that makes sense but since when have credit card companies actually cared about that type of thing?

are you implying plebs dont buy tons of things that they cant afford and then go into debt?

the credit card companies thrive off of this shit, you dumb faggot. they are clearly intimidated by crypto. as they should be. we're going to eradicate these kike dinosaurs in gas chambers.

>> No.7307360

>>7307236
The thing is that people usually buy things they want and adjust their expectation around the fact that they are buying this and that they will never get their money back for it, but rather will enjoy the use of it. It dictates their spending habits. Very few people are so irresponsible that they just buy and buy and buy with no plans to pay it back and very few of them have the credit to do it.

If, instead, you told them that what they're buying is going to make them money and you expose the masses to unchecked leverage power then, Black Tuesday and all that.

It's essentially purchasing on margin without all the RegT requirements and other regulations that go into that.

>> No.7307371

>>7306974
>NEET
>has no credit

>> No.7307462

>>7306154
>It will not apply to debit cards

>> No.7308141

>>7306686
>paid off maxed out multiple credit cards

no you didn't

>> No.7308421
File: 150 KB, 976x1010, 1516609750743.jpg [View same] [iqdb] [saucenao] [google]
7308421

>>7306154

>banks ban competition.

How is this news? You know it's a good idea when jews want to ban it.

>> No.7309230

>>7307360
So glad I got at least a couple grand into the market this way before the banks closed the loophole here in the US. Would have put more in, but people had to come on this board and talk about it and let the cat out of the bag! At least I can finally feel like I got one over on the banks, while I pay my laughable $25 monthly minimum payment, interest free for the next 14 months...

>> No.7309390

>>7306209
/thread
People like OP are the ones selling first because they only read the headline.

>> No.7310123

>>7306935
Every credit card in the UK can be used to gamble with. Even my local shit pit casino takes my card with open arms.

This is a game changer. Effectively the UK banks are saying that Crypto is a scam.

>> No.7310211

>>7306215
On Sky News it just said Lloyd’s, RBS and Halifax won’t allow bitcoin purchases with credit cards.

>> No.7310440

>>7306328

It's almost as if they're not all part of the same banking group

>> No.7310835

I actually support the idea of banning crypto purchase on credit
It's too volatile. People are too retarded.

>> No.7310977

>>7310123
>banks calling crypto a scam
how new r u?

>> No.7311015

>>7306328
Baka

>> No.7311019

>>7306154
anytime credit is used, debt money is issued into the system, causing inflation.

so btc on credit, makes btc go up in value &
fiat to go down in value

>> No.7311126

>>7306571
That's exactly what the bankers are doing you dumb faggot. Why do you think the price is so fucking low, because they have crashed the market to buy it up cheaply. I'm talking about bankers btw, not banks. Get it, sheep?

>> No.7311151

to buy btc with credit. why do you faggots cant even read news

>> No.7311332

>>7310977
I mean as in banks don’t even see it as gambling which they allow.

>> No.7311341

>>7306935
>if they can't guarantee returns they aren't going to give you their money.
For real tho you're a fucking idiot, when you use a credit card, it's your fucking money, not the banks. You're borrowing money from the fucking bank. There are credit limits to what you can borrow. You have to pay them back. Is it dumb to borrow more than you can afford? Of course it is. But it's not a bad idea for people who can afford but lack liquidity at the moment. The only reason why banks are banning it is because they want to make it so that only highly liquid people can buy crypto because they see it as a threat.

The banks don't give a single fucking fuck about you. Never have and never will. They make money from people, that's their business. You'd do best to remember that.

>> No.7311365

>>7306154

The fuck do they care if it loses value? Fucking cunt jews, you should only be able to keep money with them because hurr fucking durr reasons

>> No.7311425

>>7306188
german banks next

>> No.7311562

>>7311341
No, they simply do not want to take on your retarded levels of risk, how can they expect to recoup this debt from a person who literally has no money?

>> No.7311697

>>7311562
Credit cards have credit limits, dumbfuck.

>> No.7311746

>>7311697
And people constantly fuck it up, the faggots who would buy bit coins on credit are exactly this kind of retard

>> No.7311919

>>7311019
This

>> No.7311953

>>7311746
What do you mean fuck it up? You can't spend over your credit limit. If you're retarded with money you're going to fuck it up with or without crypto. Are you this much of a brainlet?

This is obviously because banks are trying to restrict crypto adoption any way they can.

>> No.7311957

>>7306935
How is it any of their business?

>> No.7312044
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7312044

>>7306154

never have used credit cards ... the entire concept revolves around using/stealing money you don't have or easing its use

wire/SEPA card transactions in europe are still the most common ones and usually cost very little also instant wire for small sums


you faggots better be worried about this outcome > that will affect the market for months to come:

https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc

https://www.coindesk.com/sec-cftc-chiefs-set-senate-crypto-hearing-next-week/

>> No.7312114

You're all wrong.

The reason why they are stopping you buying on credit cards is because you could max out CryptoCoins and they wouldn't be able to get them back. Normally if you don't pay they would come after you for the car or whatever you bought, but they couldn't get at your crypto so there is no security for them.

>> No.7312204

>>7312114
Shitcoins are more valuable than cars.

>> No.7312260

>>7312114
Nonsense. Who the fuck buys cars with credit cards? CC are usually used for small purchases. It's all about limiting adoption and participation especially right now as the prices are low.

>> No.7312274

>>7311953
There just isn't anything new happening here until they cuck debit transactions, at which point I will agree with you.
>>7312114
This to some extent but this is more outside credit cards

>> No.7312336

>>7306154
>credit cards
your reading comprehension is exemplary

>> No.7313002
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7313002

>>7306571
Because banks are over leveraged and have no liquidity.

>what is QE?

>> No.7313110
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7313110

>>7306935
Ha!

You think banks usually regulate about this sort of thing?

Normally they bitch and lobby if they’re being regulated.

Nah senpai. This is a corroborated effort BY THE BANKS THEMSELVES NOT GOVERNMENT REGULATORS.

They’re shitting their panssss

>> No.7313169

>>7306154
this is exactly why we need crypto. fuck those faggots who want to tell people what they can and cant do with their own money

>> No.7313189

>>7306154
they're obviously protecting themselves for incoming bullrun, so people don't max out their credit cards fomo'ing in again.

>> No.7313226

Good. This means there's gonna be a bull run soon.

>> No.7313237
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7313237

Stupid jews

>> No.7313296

>>7311919
thx btw the fuckin state of /biz/
desu i was just waitnig for one of these fuckin blue pilled normies tell me i am wrong, cause reasons.

>> No.7313325
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7313325

>>7313169
>their own money
what part of credit cards don't you understand
CREDIT CARDS ARE THE BANKS MONEY, YOU'RE BORROWING MONEY FROM THEM, IT'S THEIRS
you fucking turbobrainlet

>> No.7313410

>>7313325
um brainlet, you don't borrow 'money'. you create promissary notes! all 'money' is debt. quit thinkin you know shit, when you start to know shit you realize how little you know!

check out 'the creation of money' by the bank of england. its only 14 pages but i still don't think you will read and understand.

>> No.7313443

>>7313296
>blue pilled normies
>>7313410
>still don't think you will read and understand.
jeez man sorry morty

>> No.7313472

>>7306328
Those are all brand names belonging to one bank you idiot.

>> No.7313482

>>7313410
I know all about fractional reserves and the creation of money, this has nothing to do with letting people buy speculative assets on credit.

>> No.7313495

>>7313443
& thanks for proving my point
you won't
the confirmation bias is strong in this one

>> No.7313546

>>7306154
You realize you're allowed to read past the title, right op?
ah wait, even the title says something different from what your dumbass is saying

>> No.7313558

>>7313482
>BORROWING MONEY FROM THEM
>BORROWING in caps
ok great it was ^ that made me think you didn't

>> No.7313561

>>7306154
CREDIT CARD PURCHASES!!!
You can't even buy stocks on credit cards. This was to be expecred if crypto is to be legitimite.

>> No.7313578

>>7306328
holy fuck you're stupid
learn to read before you go posting shit
how'd you even manage to log in?

>> No.7313597

Youldnt be able to with credit cards anyway desu. Too much of a risk.
>>7310211
credit cards are debt financing retard.

>> No.7313600

>>7312044
you're stupid and you should know you're stupid

>> No.7313604

Deutsche Bank has stopped confirming Cc transfers early january. That's zero news. Poorfags living on credit shouldnt be in crypto anyways. Learn to fucking SWIFT.

>> No.7313620
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7313620

>>7306328
>there are people actually this retarded

>> No.7313633

>>7313482
Well, it all depends on the Ts&Cs and the legality of changing the contract subject to no notice.

>> No.7313647
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7313647

>>7306154

>> No.7313657

>>7313561
Yet you can use it in the bookies...

Come on man. Unless ur a shill.

>> No.7313700

why are they doing this? what gives them the right to do it?

>> No.7313708
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7313708

>>7313325
>Can buy beer and shoes with cc but not allowed to buy bitcoin
>hurr durr the banks are scared they won't get their money back
You have to pay the money back with your own money you retard.

>> No.7313720

>>7306328
Wow you're actually retarded.
neck yourself.

>> No.7313844

>>7307236
You can liquidate legitimate purchases. You won't get all your money back but some.

>> No.7313950

>>7306328

Hahahha, faggot. You sure got roasted. End it all now.

>> No.7313959

>>7313844
people use credit cards to pay their bills and other debt. banks expect zero collateral from money spent with credit cards.
they simply dont want people using their money to buy cheap crypto and pay off debt in full from the profits. if they cared something would have been done in december.

>> No.7314045
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7314045

>Banks want to protect their customers

Who believes bullshit like this? People have completely destroyed their lives over credit cards and student loans, but crypto is the evil now.

>> No.7314181

>>7313959
lmao this delusion! They just dont want you to make it! they dont expect collateral but they extend credit limits based on what you can payback. Sure they want you stradled in debt. But manageable debt they can get a return on. Credit card and crypto is both huge moral hazard and genuine risk for them.

>> No.7314321

just wondering how many paid FUDing retards and bots are here these days. always the same in downward trend / bearish time to prolong it as long as possible.

>> No.7315152
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7315152

>>7314321
This

>> No.7315430

>>7314181
>crypto is both huge moral hazard
literally neck yourself retard

>> No.7315935

>>7306154
They don't want the goyim buying up their cheap bitcoin. They are (((protecting))) you from poor spending

>> No.7316662

>>7306346
Wrong, its yours. If you use it for hookers losing everything thats fine. But Bitcoin isnt lol. You are dumb as fuck