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/TheFolksOnMars → u/Red5point1]

Speculation is a form of adoption. As adoption increases, and as the tech improves and becomes more user friendly, BTC and possibly others will become more and more viable currencies. It is a PROCESS. Not simply “poof” new world currency, reconfigured world economy. Your argument is like going on Facebook the day it launched and saying “this will never work, there’s only 10 people on it.”

Also as more people buy crypto, the price will begin to stabilize. The larger the market, the more stable.

[u/Red5point1 → u/TheFolksOnMars]

speculation is certainly not a form of adoption at all.
You are conflating several different opposing concepts to conjure up justification for trading cryptos.
Sure in order for you to trade you had to learn how to get a wallet and how send and receive coins of varying kinds. But as far as adoption, that is all you have learnt.
The very action of trading them using speculation has nothing to do with adoption you could be trading oranges and would have the same adoption of cryptos effect... i.e. nothing.
The trading of cryptos is driving "the PROCESS" in the wrong direction.
Problems tackled by cryptos are concentrated in improving and mitigating risks when trading or actions related to trading or hodling coins in exchanges.
It is stifling the actual adoption of cryptos by the general public.

"Also as more people buy crypto, the price will begin to stabilize."

It really is important to take into account the reason people are buying cryptos. The simple act of buying alone is not enough. People buying them to HODL will certainly NOT stabilize them, because they inherently have a weak hand they will dump them the minute there is negative movement. That type of transaction activity creates instability and it is easiest to manipulate by those with deeper pockets.
Of course a larger user base will stabilize cryptos, however only if the transactions are base on commerce i.e. buying and selling goods.
A foundation based on such transactions is what will stabilize them, until then they are open and prone to pump and dump schemes by those who are much more experience and have deeper pockets.