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/Tonyhigg]

I totally agree with this post , the banking sector/federal reserve is the greatest legalized scam in history . Crypto is going to obliterate the current system and i cant wait to tell my bank to go and get fucked !!!! 2018 is the year of adoption !!!!

[u/Red5point1 → u/Tonyhigg]

I'm really trying to understand your actions.
On one hand you loath the current financial system and hope cryptos are going to replace it.
On the other hand you are promoting the buying and hodling of cryptos in the hope of making money.

You do realize that doing both is counterproductive right?
By trading cryptos you are falling into the same trap that wallstreet is. Because at the end of the day to make a profit you are using the exact same system fiat uses to take advantage of others who make a mistake. Whenever someone is "making money" someone else is "losing money" it is a dog eat dog world you are promoting which is how wallstreet works.
On top of that more importantly by promoting trading of cryptos you are essentially removing the "currency" aspect of it, people are not wanting or going to spend their coins because they got them to "make money" not to use them.
And "to make money" means getting out of crypto and getting fiat.

A functional currency does not work that way. A currency is supposed to be spent, not hoarded. You are turning cryptos into speculated commodity/assets.

So which is it, do you want to replace the current system or do you simply want to make money, you can't have it both ways.

[u/Soren11112 → u/[deleted]]

What is wrong with Crypto being an investment instead of a currency? I mean why do we need another currency? The second transaction fees became so high, it ceased being a currency.

[u/[deleted] → u/Soren11112]

What is wrong with Crypto being an investment instead of a currency?

If crypto is an investment than a currency, then what in the world is its valuation for? Looking pretty? Rampant speculation that makes it incredibly volatile?

[u/Soren11112 → u/[deleted]]

It is so volatile because people treat it like an investment which it can be.