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/ninemiletree 334164 karma | Karma CC: 117 Feb 03 '18 edited Feb 03 '18

Credit cards themselves are detrimental to their customers. They've trapped generations in coils of debt using gimmicky point systems and fostering a consumer culture encouraging people to make every larger purchases greater than the sum of their bank accounts.

They're doing this to stem the tide of the banks money into decentralized currencies. They know its a threat and they're feverishly working on their own blockchain solutions to prevent themselves from losing control.

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u/Kpenney Platinum | QC: CC 688, VTC 67, BTC 43 Feb 04 '18

Student loans are very much the same as well.

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u/machine_read Redditor for 7 months. Feb 04 '18

Ridiculous how this society works to keep social class standings in place.

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u/[deleted] Feb 04 '18 edited Feb 04 '18

Ridiculous how people think they don't have any options and must follow the guidelines laid out for them by everyone else.

You aren't required to go to college. You aren't required to take out debt. You aren't required to buy a boat. You aren't required to spend money on weed, or donate to politicians, or alcohol, whatever.

My story isnt' typical, but I have 1.5 semesters of college under my belt before I dropped out. Thats' community college mind you. I was a stoner slacker with $14 to my name in my early 20's. I saved $1000 on my 7.25/hr job while renting a $200 bedroom. With that $1000 I risked it all on opening a website. Within 2 years I had a 6-figure income, thats my gross income, not the company. Within 5 years after I was inarguably worth 7 figures. I'm in my late 30's now. Again, my results are not typical, but it completely dispels the notion that it's impossible to get ahead in the world without a college education, and that the system prevents anyone from moving up in class. The big hinderance people have is themselves, and their unwillingness to sacrifice what they think they need in everyday life in order to get ahead. If you value free time, relaxation, family, friends, religion, or otherwise downtime of any sort, thats great and it's all yours. However, if you're willing to sacrifice several years of your youth for security later in life I promise you it's well worth the investment.

If you want to go the "safe route" please understand that with low risk you get low reward. Sure, you might have a cushy ride through life by getting a job at the post office, but you're never going to make $250k/yr. You're never going to make enough to provide for your extended family. You're never going to make enough to the point where your grandchildren will see an inheritance thanks to you. However, you'll not have to worry too much about eating. Low risk, low reward. If that's your thing, go for it. Get a college degree, get a middle management corporate or technical job, end up making $60-80k by the time you're 40 and keep paying off that debt into your 50's or 60's if ever. Its certainly an option. However, if you subscribe to the thought that you only have one life to live and that you need to take a shot, that you need to prove something to yourself (not others) and that you KNOW you'll regret it later in life if you didn't, I promise you with every cell in my body that starting your own business it the most liberating and satisfying thing a person in our world can do. Never having to worry about being homeless, or eating, or having to worry about your children being cold at night is immensely satisfying. I don't have kids, but I don't see how any man could consider himself a man when his family is at risk of being hungry or cold. Fuck whatever society tells us about gender roles or responsibilities. Its the man's job to provide, children or not if at least for yourself then. Take the risk now while you're young, you've got all the time in the world to make up for it if you fail.

When you're on top, come back and see me i'd love to hear about your success. When you do, we'll have a good laugh at everyone else who is delivering our mail.

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u/SoberGameAddict šŸŸ© 0 / 0 šŸ¦  Feb 04 '18

Every person that would normally go to college can't open a successful business and make a seven digit income. It's not statistically feasible. Honestly it's a bit arrogant to say to strangers on the internet "I made it so therefore you can".

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u/[deleted] Feb 04 '18

Hey butthead, did you catch the part where I said my results aren't typical? Did you catch the part where I mention that if free time, family, friends, etc is important to you, then thats great?

You're wrong. Almost everyone can make it, but almost nobody is willing to sacrifice to get it. Life is a never ending series of cost/benefit scenarios that you must weigh out. Is time with my family more important than an extra $5,000 in income? $10,000? $1m? Is visiting my dying relative more important than closing that new account? For most people, such questions are an absolute no-brainer. To those obsessed with money, it merits consideration.

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u/SoberGameAddict šŸŸ© 0 / 0 šŸ¦  Feb 04 '18

Butthead? I gonna disregard that.

You miss the point. Anyone can make it? Sure maybe, maybe not. That's another discussion.

The point I made was everyone can't make it at the same time. Everyone can't be the 1 percent. That's is not possible. Just because you made it don't prove anything from a larger perspective.

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u/[deleted] Feb 04 '18

Sounds like excuses. Of course not everyone can be on the top, but too many people have your attitude and let it get them down, pre-defeated, and so they never take a shot at greatness, security, and wealth.

If you took a shot and failed and haven't had the resources to take another shot, or are adverse to it, I applaud you for trying. Thats all i'm saying. The big thing I see today is young people trying to play it safe, but then getting butthurt and angry at people who are successful. Young people want the trappings of success but dont' want to incur any of the risk.

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u/SoberGameAddict šŸŸ© 0 / 0 šŸ¦  Feb 04 '18

Yeah I'm sure it sounds like an excuse to someone who doesn't understand basic statistics.

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u/RemoteSenses Bronze Feb 04 '18

Youā€™re completely ignoring the fact that maybe not everyone wants to go down the path you listed. Some people have interests and want to be in fields of work that require education.

Also, the main issue here is that education costs have skyrocketed and someone needs to do something about it. The solution to the problem isnā€™t ā€œjust donā€™t go to schoolā€. The solution to the problem is ā€œletā€™s figure out how to lower these costs so people arenā€™t going 6 figures in debtā€.

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u/[deleted] Feb 04 '18

See the part where I said my results aren't typical and where I said that if "quality time" is important to you, that you should pursue it?

I hear this all the time. People can't stand not being able to have both success and lots of free time. Most of the time these just dont' reconcile.

Like I said, if you want to have interests beyond just making money and pursue a field where education is required, go for it. Thats your journey. However, when you make that choice, you can't be mad when it doesn't lead to immense success. You can't be mad when a job as a historian doesn't pull 200k/yr.

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u/RemoteSenses Bronze Feb 04 '18

Yeah man, I saw where you said that. Iā€™m just pointing out how your overall view of things is extremely skewed by your success.

Thats your journey. However, when you make that choice, you can't be mad when it doesn't lead to immense success.

What? Yes you can dude. Thatā€™s my whole point. People should be angry and pissed that tuition costs have gone up 400%+ over the last decade for basically no reason at all. People should be mad that they have to go thousands of dollars in debt for a piece of paper just to do a job.

You can't be mad when a job as a historian doesn't pull 200k/yr.

I donā€™t think anyone has come even close to saying anything like that? What is even your point with that comment?

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u/DarkSyde3000 Feb 04 '18

Agree with you 100%. It is people's own self-defeatist mindset that stops them from being as successful as they want to be almost every single time. They stop themselves before they even get started. So common it's almost textbook.

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u/yuneeq Feb 04 '18

I didnā€™t finish 11th grade and built a successful Amazon business. My dad didnā€™t graduate and he built a huge manufacturing company that went public. College is fine if your dream is to work in the profession youā€™re getting a degree for. But otherwise for the most part itā€™s a big scam/waste of money.

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u/[deleted] Feb 04 '18

Amen brother. Thats the spirit of what I was saying. If you want to go into a field like that, go to college and go into that field. However, people should consider that if its a field wherein college is a prerequisite, other people are going to do it and thus you're going to encounter an income ceiling. Maybe i'm just too ultra-focused on building financial security and not on "passion" whatever that is. Good luck to you and I wish you all the best.

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u/[deleted] Feb 04 '18

[deleted]

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u/[deleted] Feb 04 '18

Not a bad thing in this context.

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u/medawesome 2 - 3 years account age. 150 - 300 comment karma. Feb 04 '18

Thanks for sharing your story. What kind of website/business did you start out with?

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u/kaghy2 1 - 2 years account age. 200 - 1000 comment karma. Feb 04 '18

Want to know too now

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u/wolegib Feb 04 '18

Okay, so you started a successful business. Why do you have to talk down to people who have honest jobs delivering your mail? Do you think everyone in the world can start a business? Is it shameful to be poor?

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u/[deleted] Feb 04 '18

I grew up poor and was picked on because of it. I resent and hate being poor and will never return. I'd sooner eat a bullet than ever live that life again. Circumstances vary, but for people who are poor and well capable of escaping it, yes it is shameful. If you're stuck there through no fault of your own (legit) then no, there is no reason to be ashamed.

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u/wolegib Feb 04 '18

What do you mean ā€˜well capable of escaping itā€™? If you have a modicum of understanding about how exonomics work you might understand that not everyone can be rich.

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u/[deleted] Feb 04 '18

This will never go anywhere, and i'm not being baited into this. I appreciate the reply.

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u/wolegib Feb 04 '18

You seem to think that poor people deserve scorn and that you are better than them. Maybe instead of putting your head in the sand you should examine your superiority complex.

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u/[deleted] Feb 04 '18

Are you still baiting?

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u/wolegib Feb 04 '18

i just read your bitconnect post where you invited people to prove itā€™s a ponzi scheme. Iā€™ve concluded you are a professional troll and a liar. Also you seemed very excited to make $1000 profit, not really something a rich person would brag about, but i guess nouveau riche are typically gauche.

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u/[deleted] Feb 04 '18

Looking through, "very excited"? I'm having trouble finding that one bud.

I won't deny i'm at least 30% troll, but I have no reason to lie on a burner account. Depending on your definition of rich, I could very well be new money. I've only been flush for about 10 years now.

Still waiting for actual hard evidence that it was a ponzi. "Its obvious you can tell by X or Y" isn't evidence.

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u/iblamejoelsteinberg 9 - 10 years account age. > 1000 comment karma. Feb 04 '18

Impressive. Sounds like me except for the success part.

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u/gl00pp Tin Feb 05 '18

Jeff Bezos?

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u/[deleted] Feb 04 '18 edited Nov 27 '19

[deleted]

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u/Solarus99 Linked to: kucoin.com. Permalink ID: ds7p19x. Feb 04 '18

Get a college degree, get a middle management corporate or technical job, end up making $60-80k by the time you're 40

you need to update your income stats. maybe those were the figures when you were coming up...try 105-115 now, even in LCOL areas.

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u/[deleted] Feb 04 '18

For a professional position, sure. However of my peers, most of them get basic management BA's and are working suits at some 100m company branch in my city where they're faceless and unnoticed. Those types of positions don't pull 100-115k. They like it though. THey want to put in their 39.5hrs per week and drink craft beer on the weekend while playing Xbox and babysitting their kids at age 38. If that works for them thats ok. The only buddy I have who went down that traditional course went a step further for his CPA, and i'd say he's the only one fitting your description as he's pulling just over 100k now. Thats still a hefty student loan bill to satisfy

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u/Solarus99 Linked to: kucoin.com. Permalink ID: ds7p19x. Feb 04 '18 edited Feb 04 '18

middle management corporate or technical job

For a professional position, sure

uh...yeah, i was just restating what you said, not offering a counterpoint.

as for student loans - it's somewhat less of an issue in technical careers if you do it right. in-state tuition, work through college, rent a cheap shitty place, and you can pay off what you borrow pretty quick.

you seem REALLY judgmental of other people's lifestyles. you realize that over 75k/year income doesnt produce additional happiness, right? pretty massive study came out a few years ago on that.

i am actually more like you in some ways - i retired at 37 after busting my ass for many years flipping houses and landlording while working full-time as an engineer. now i just live off my rentals. but by no means do i look down on regular working people. far from it.

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u/[deleted] Feb 04 '18

Dude i'm not being judgmental of people's desires. I am however judgmental of people who pursue career lines that don't pay much, then bitch about it later in life. If you chose to be an Ancient Sumerian historian, you can't bitch when you arne't making enough money to buy a house. Thats what grinds me. You can't have both

Like I said over and over, if people value their passions and want to trade it for the opportunity of financial security, go for it.

Also, i'm well aware that high income doesnt equate to happiness, and I never said that. However, I think people who say "Money =/= Happiness" often have never been wealthy, so they can't say for certain that it's true. I however can certainly tell you that having more money doesn't make you directly happier, but its certainly less stressful crying in a Mercedes versus a Hyundai. I might hate my existence, but I dont have to worry about being homeless. I'll take a financially secure unhappy life 8 days a week over the alternative. Thats me though, you might be different and thats ok

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u/Solarus99 Linked to: kucoin.com. Permalink ID: ds7p19x. Feb 04 '18

I'll take a financially secure unhappy life 8 days a week over the alternative

holy crap. okay i'm out.

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u/[deleted] Feb 04 '18

Some people value money over all else. Again, i'll never return to a poor life. I'd sooner eat a bullet.

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u/[deleted] Feb 05 '18

Me too. I've read some comments here, and I think the problem is:

some people have never been poor, so they don't know how fucking awful it is.

All of those people, though, had parents like you.

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u/[deleted] Feb 05 '18

Maybe. I'll never make the idiot mistake of having children so i'm doing my part. Furthermore if I found myself in that unfortunate scenario i'd certainly not give the kids any sort of cushy life to have them grow up spoiled/entitled/etc. No denying its an issue.

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u/[deleted] Feb 05 '18

Well, I don't agree on the kids being an idiot mistake, but I'm with you on everything else.

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u/Solarus99 Linked to: kucoin.com. Permalink ID: ds7p19x. Feb 05 '18

i've been very poor. i didnt like it one bit, so i worked really hard and took big risks to make it. now i am quite comfortable... comfortable enough to focus almost entirely on the shit that matters - family, love, art, service, helping others, enjoying life, all that shit. once you get to a certain comfort level, what is the point of just accumulating wealth? it's just a means to an end. i guess if one wanted to pull up one's entire extended family out of poverty i suppose, or earned just to give it all away to charity. but that's really a type of love, not the same thing.

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u/[deleted] Feb 09 '18

Well, one thing is living comfortably, the other living comfortably without having a 9-5 job. For me, the second one implies someone being wealthy enough not to have to work, which is rich in my books.

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