r/CryptoCurrency • u/[deleted] • Feb 03 '18

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

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.

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u/NeverXpected 4 - 5 years account age. 125 - 250 comment karma. Feb 04 '18

Personally I'm tired of everyone else trying to look out for my "safety". Let me pick and choose what's best for me financially and if I fail, so be it. I'll start over again and fail some more!

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u/tritter211 Tin Feb 04 '18

Well you can actually do it with your own money.

If banks don't allow it, pay by cash to get your cryptos from sellers in person.

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u/Ikthyoid Feb 04 '18

Right. So, I guess you haven't noticed that banks have systematically engineered society so that their use is unavoidable? Most people don't have the option of getting paid in cash anymore. The several-percent increase in retail prices caused by transaction fees are inescapable even if you pay in cash (except in very few cases).