Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees
Customers using credit cards on Coinbase: the following card issuers are now blocking purchases of digital currency with credit cards.
Chase
Bank of America
Citi
Capital One
We're encouraging affected customers to switch to debit card or bank account payment methods.
Chase
Bank of America
Citi
Capital One
We're encouraging affected customers to switch to debit card or bank account payment methods.
Some see this as bad news but on the contrary it's good you shouldn't be using credit cards to buy crypto if you do not have the money then you shouldn't be taking the risks
I'd leave the decision what to do with funds on credit cards to their owners.
Otherwise we can end up with banks deciding what we're allowed to buy with CCs as a first step, and then they will likely go further.
Hey wait, it's actually happening now
You may have possession of a credit card but all funds are strictly in ownership of the banks borrowing money on a credit card is no different that taking out a loan
What about some poor fool that got a CC with a nice 10k credit limit and bought a few BCH at $3K expecting it to double quickly only for it to now be worth $2500 and unable to afford the repayments
They are not saying you cannot use a Debit Card where you own the funds in your account just Credit Cards where the bank is loaning you their money big difference
you subscribe to the very popular and very false narrative of how money works in modern society. And now you parrot the party line from their outpost the enemy has built inside your own brain. Nice to meet you modern man*!
newsflash: the loan you think you are getting whether large or small is not actually a loan. further the contract you are mentioning is one-sided and domestically unenforceable. Maybe that impulse control you think we need the banks to exercise for us should be exercised by them first?? I mean they are the only industry that is allowed by congress to provide their own in-house oversight AND policy! What could go wrong right tek/
*= this assumes you do not knowingly work for the IMB and fund