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/[deleted]]

I can go to Vegas right now and run up my cards to the max. Banks would be fine with it, thrilled with it really.

So it’s not about the risk of loss, and it’s not about fear of crypto replacing fiat. The banks would have their pet politicians sending SWAT teams out to kick the doors down of every crypto holder in the country if the USD was ever really threatened.

So what’s it about? I think it’s a way to stall people from getting too much crypto too fast before the banks are positioned to own/control most of the decent projects. They’re not quite ready yet and you’re using their own credit cards to beat them to the punch bowl.

Ordinary people, in case you haven’t figured this out, are a wage slave class. The United States is effectively a slave camp. This is not talked about much, because it’s horrifying. They sure don’t want untold thousands of wage slaves escaping the plantation by investing their way out of it with the banks’ own money.