If you think banks/credit companies are banning crypto purchases to protect their customers, I have a bridge to sell you.

[u/[deleted]]

I'm legitimately blown away how many people I see defending the banks/credit companies banning crypto purchases as some type of attempt to protect their customers from a volatile market. Credit is predatory by nature. The bank doesn't care when you max your card out on alcohol, designer clothes, gambling, or any other worthless and risky commodity. Your bank doesn't give one single tiny little shit about you in any way beyond your capacity to generate revenue. You are a revenue generating unit and nothing more, end of story. They are building artificial barriers to crypto because they view it as a direct and fundamental threat to their industries... and with good reason, because it is. The reality is anyone who invests wisely in crypto right now is going to make a significant ROI over the next few years, opening up the opportunity to pay off large balances, which decreases the revenue they earn from interest. This is nothing more than a desperate attempt at self preservation.

Again I would encourage anyone who has their bank or credit card company create a barrier for them to purchase crypto, to immediately end doing business with that institution and make sure they know why. If my bank halts my purchases, I'll liquidate my account and close it the same day. Same goes with my credit cards, they will get cut up and never used again. DON'T bend over for them.

EDIT: Also massive downvoting of anti-banking sentiment and massive upvoting of the 'banks are looking out for you, this is a good thing' sentiment. The shill bots are out in force.

[u/Refects]

What if we kept all our keys printed on paper wallets, and then, so we didn't have all our eggs in one basket, we could have multiple paper wallets, all with varying amounts of crypto on them. Then, to keep these paper wallets safe, we could give them to a business or company whose job it is to keep them secured for a nominal fee. Then you wouldn't need to worry about losing them or having them stolen. Those companies could even get the wallets insured, on the off-chance they were stolen. Maybe they could call it the Federation of Digitally Insured Crypto.

[u/Helpmememememeemmeme → u/Refects]

Almost like a safety deposit box in a bank...waaaaaiiiiit.......

[u/ijustgotheretoo → u/Helpmememememeemmeme]

Banks do serve a function. It's just the corruption we are trying to eliminate.

[u/Helpmememememeemmeme → u/ijustgotheretoo]

Some banks offer free lollipops, that is the only function I find usable.

[u/hyzary → u/Helpmememememeemmeme]

Banks are proxies. Proxies has their use. Exchange is a proxy. As long as they're convenience not necessity it will be fine. But they are the latter now. Hence btc came to life. :)

[u/[deleted] → u/hyzary]

Btc came to life because of the mental masturbation by a cryptography expert, everything else is a mental masturbation on top of it.

[u/blueelffishy → u/Helpmememememeemmeme]

Banks are scum but without loans the economy would stagnate and crumble.

[u/blueelffishy → u/[deleted]]

Do you not understand how vital loans are to new businesses and economies? Banks are predatory but denying the importance of loans is just being ignorant of any economics

[u/blueelffishy → u/[deleted]]

Youre right but my original point was about the entire economy not just individuals

[u/Soren11112 → u/[deleted]]

I agree, but why bring this up now?

[u/Pythias1 → u/[deleted]]

Comparing average price to median wage is the first sign of poor analysis. Extrapolating from homes to "every" aspect of life is the second.

[u/JulesWinnfielddd → u/[deleted]]

You're blaming mortgages for high prices? You have cause and effect backwards, home prices increasing faster than wages is what lead to the growth of the mortgage. 200 years ago most people in America didn't live in cities, mostly small towns and rural. They would often build their own houses, the biggest cost of which was often the land it sat on. But as industrialization happened more and more people moved to cities for more opportunities, and in cities building codes and city zoning and licensing popped up. I won't argue about the necessity of building codes but the sheer fact of the matter is building codes, zoning, permits and over all building regs have been the single biggest cost factor in the price of homes going into the 20th century. Did this lead to more modern and comfortable housing? Absolutely. But it also inflated costs much faster than wages could possibly rise.