Why are the bankers so scared of crypto?

this
Incredible as it may seem, after blowing up the whole fucking world in 2008 they are trying to regulate credit risk.
But carry on muh jewing Veeky Forums, great investment strategy.

Why use a credit card in the first place? You have good old debit cards

If the price on exchanges would not be manipulated and actual demand would drive the price then yes.

banks are charging extra fees even with debit cards FYI

simple.
Why use credit for something so volatile? What happened to dont invest what you can't afford to loose, that's exactly what you are doing with a credit card.

xDDDD ebin meme

The article doesn't say that

>Why are the bankers so scared of crypto?
They're not, they're conspiring together to create FUD so the prices crash while they gobble the cryptos up for themselves to sell at a higher price. Anyone who thinks the banks yelling about how cryptos are a scam aren't just hoarding them themselves every time the prices crash is an idiot.

Gee, why would (((they))) be afraid of an alternative to manipulated fiat?

>mfw i have wells fargo

It's not because their scared it's because of credit card fraud.

APOLOGIZE

That's what happens when a technology comes along that's threatening to make you obsolete.

Because it affects their ability to print money, they can't have any deflation, they can't let home prices drop because it doesn't benefit the .1% if houses become affordable.

they wouldnt cash out and pay off their balance.
if they are using a credit card to by a speculative asset they are fucking retarded in the first place.
they max out credit cards, dont sell when its high, panic sell when its low, and end up in debt.

if they thought they would get their money back, they would let people buy crypto on credit.

people who would use credit to purchase crypto are fucking retarded.

this board needs an overhaul. it used to be pretty good and now its just 50 shill threads of faggoty ass memes with 2 replies each.

Yeah, I know-- just from personal experience I had some extra fees I didn't have before

Yet you can buy the lottery or place bets using your credit card. Lmao they don't want the goys buying cheap crypto

CRYPTO DOES NOT THREATEN BANKS

BANKS USE BLOCKCHAIN TECH AND FUND BLOCKCHAIN COMPANIES

YOURE ALL JUST STUPID AND DANGEROUS WITH YOUR MONEY AND THEYRE TRYING TO GET AWAY FROM THE LIABILITY THAT IS YOU GETTING VAPORIZED BY BUBBLES ON WORTHLESS SHITCOINS CAUSING MASSIVE PERSONAL DEBT

>credit card is with Chase
SHIT. Where can I get buttcoins with AMEX?

YOU GUYS. WE'RE SAVED.
I JUST REALIZED THAT IF YOU GRAPH BTC IN LOG(1/X) WE'RE ACTUALLY IN A SHARP UP-TREND RIGHT NOW.

these banks do not print money, monetard

This isn't true at all. I stopped using USD wherever I can. I will stop using banks alltogether.

retard protection lmao. How do you think credit cards make money? By getting retards in debt ya brainlet.

Fiat is one of the greatest scams in the history of mankind, and crypto is a threat to the gravy train.

credit card debt is unsecured. It can be discharged in bankruptcy. They want you in debt, not bankrupt. If you go bankrupt they'll lose money.

...

they have done their homework and have decided that people who would use credit to buy cryptos are fucking retarded and would most likely default.

which makes perfect sense. if you try to get rich quick on a hail mary buying crypto with a credit card youre fucking retarded.

crypto does threaten banks you retarded brainlet redditor
the blockchain doesnt threaten banks, the blockchain is different from crypto
a blockchain is an unbreakable ledger, crypto is built ontop of the blockchain

>Fiat is a scam but crypto isn't.
Fiat
>backed by bond holders
Crypto
>backed by unregulated market speculation
>constant "hacks" and insider trading scandals

>crypto does threaten banks you retarded brainlet redditor
youre so fucking stupid holy shit lmao

the Federal Reserve prints money, the Federal Reserve is a privately help bank

You're under the age of 18

>please go buy things that immediately and permanently depreciate in value like that 8K ultra HD TV
>oh no, goy, buying something that may increase in value is too risky!

fucking kikes

''due to volatility and risk'' what a load of bollocks. That has nothing to do with the bank lol

The fed can also only print money that is backed by treasury bonds.

Question: isn’t credit for anything? How can they ban one type of purchase on credit? Couldn’t I just use my credit to buy prepaid debit card and buy crypto that way? Can’t I just spend all of my credit on food and alcohol and not be able to pay it back? This makes no sense.

>please go buy things that immediately and permanently depreciate in value like that 8K ultra HD TV
Are you talking about (((bitcoin)))?

this. the true threat is a handful of rootless cosmopolitan jews printing money

nice

>giving credit to jamal to buy a new pair of nikes is good for economy

buying a TV and buying an extremely risky volatile piece of shit for thousands of dollars thats inherently worthless on margin isnt the same

they can because they can. i dont understand your confusion.

Just added my debit card HHAHAHAHAHAHAHAHAHAHA YOU CAN’T STOP ME FROM THROWING MY MONEY AWAY, CUNTS

user...I
They literally don’t want you to pay off your credit card debt. Charging interest while you make the minimum payments month after month after month after month makes is extremely lucrative for (((them))) they know that there is a chance that you could buy 5k worth of crypto on a credit card and 2x(or more) before the next statement arrives and that’s just bad for business goy

>>backed by bond holders
>>with fiat currency
Oh I am laffin
>>>IT JUST WORKS GOY

same reason they can stop you from betting on sporting events with your credit card with offshore bookies, to protect you from yourself

>everybody who buys crypto is gonna win

This isn't really a huge hit to crypto, it's not like you can buy stocks or bonds with a credit card

>(((protect you from yourself)))

>why do banks want to stop losin mg cash reserves to a retarded speculative asset

Are you fucking retarded

...

Here we go

Credit card companies are banning it because people are losing their shirts on this betting. It’s the same reason you can’t use credit to buy lottery tickets.

Because with crypto you are your own bank. They are being abolished and they are scared.

wrong

what is fractional reserve banking?

Well basically if you deposit $1,000 then the bank can lend out $10,000. How is that not printing money?

a bank will not lend you money to gamble

(((wrong)))

Cope

Try to pay rent with btc lmfao

Can you use your credit card to buy in at a casino?

>How is that not printing money?
because it creates debt goy! printing money is for paying your debts.

It's the one thing that can destroy their fiat system. The same system that has us enslaved and we're too blind to snap out of the "dream"

Fiat
>backed by bond holders
Crypto
>backed by bag holders

Same exact shit.

Not here. You have to pay with cash for the lottery here.

ask (((them)))

Pretty much this, only they're not doing it to help you. Either way you'd probably be able to buy with a debit card so what's the problem?

I already bought a house with BTC. Only fiat retards pay rent. Because they are poor.

Turns out you can use credit to buy lottery tickets in some states.

your property taxes are probably higher than most peoples yearly rent

The sheer level of stupidity on this board is astounding

Delusional coping retards who have no idea how floating currencies or banking works, and their overinflated sense of worth on their currently useless monopoly money

Instant-payment on credit card vs days processing a wire transfer if you want to buy a dip right then and there.

Nope. For every 1 US dollar printed 1 US dollar is held in bond. Inflation is caused by the interest that is paid to bondholders. It's not an ideal system because it relies on constant economic growth. But if you actually look up how it works it's not as insidious as people suggest. The entire purpose of the system was to ensure bank runs like the ones in the great depression can't happen anymore. The problem is leftist morons who saw the new system as a carte blanche for creating a bloated welfare state.

Literally every singe currency ever in the history of the world.

...

> Either way you'd probably be able to buy with a debit card so what's the problem?

Is this a fucking joke? Would you rather have $0 or -$1000? What the banks are doing is perfectly fine, people shouldnt be taking out loans to invest in a speculative market like crypto

you guys are so fucking stupid some times

>system was to ensure bank runs like the ones in the great depression can't happen anymore.
yes, but without fractional lending, bank runs are literally impossible.

-t. Retard

>I swr a “currency” you can buy nothing with is the same as a floating currency

You missing a chromosome or something? Where did I say that everyone who invests in crypto is going to win? The point I was making, is that I find it more likely that banks don’t want you buying crypto with their money, because there is a possibility you could profit enough to pay off your debt to them more quickly than they would like. People paying off their credit card debt quickly is bad for business

I don't pay taxes, because my house is registered as a religious temple.
Do you even read the tax code or are you paying everything the government tells you to?

If you think fractional reserve banking is a bad thing you should probably invest in some rope to hang yourself

So these fucking kikes have been doing everything to put america on debt and now that crypto is at their door step, they want to protect people from going in debt?

LMFAO if you faggots believe this shit.

>USD is fiat currency because its not backed by anything

>Bitcoin isnt fiat currency because its backed by...
oh

so is economic growth.

Who could have guessed a larping delusional coinfag

>oy vey goyim you're stupid money has no value anyway

>it's literally impossible to improve technology if you're not in debt!!!!!

>banks don’t want you buying crypto with their money, because there is a possibility you could profit enough to pay off your debt to them more quickly than they would like
And why not vice versa? Did you literally leave your brain home before going to school today?

This honestly might be the worst board on Veeky Forums

Nice coping everyone

You do realize that you can buy priesthood for $200 and it's fully acknowledged by the state? Holy fuck, no wonder you retards are poor.

>bankers can blow up the world in 2008 with risky speculation and it's ok because taxpayers (i.e. you) will just have to bail them out the tune of 700 billlion
>but if you try to speculate with THEIR money that's a big no-no, bad goy
If you defend banks for banning crypto purchases with credit you are an unironic literal cuckold defending your fiat masters.

because they know the trend is upwards
crypto challenges the hold they have over humanity thru banking