Re: BREAKING NEWS : Bank of America and JP Morgan Are banning CC purchases

Quote from: TimtheYoutuber on February 03, 2018, 12:37:41 AM

JP Morgan is aiming to ban CC on February 3rd and Bank of America to ban CC on February 2nd.

Looks like for right now they will only be banning CC purchases, which is not as bad as it sounds. If someone steals your CC and maxes it out buying cryptocurrency, then that could be a huge problem. Plus people can likely max it out as a way of getting "lent" money they cant afford to pay back.

As long as you can make Bank wires, and Debit card purchases this really shouldn't be a big deal.

Source: https://www.coindesk.com/report-bank-america-jp-morgan-ban-credit-crypto-purchases/

Also dont forget Bank of America has a patent for an exchange system : https://www.coindesk.com/bank-of-america-outlines-cryptocurrency-exchange-system-in-patent-award/

They do have some points on some areas where those CC would be lost then those coins inside would be lost too and it is really a huge problem but as a user we are really know the risk.I believe the true aim on this kind of banning cc purchases is that they do already saw that there is already a competition regarding on this are. They shows that they can block things that they want.