Bitcoin. Any experts/owners?

Status
Not open for further replies.
Makes me wonder if people were losing money and trying to claim they were fraudulent purchases.

Nah. Easy for them to prove they were authorized.

Crypto, if it became mainstream would put banks out if business. This is them trying to grab revenue while discouraging purchasing.
 
Nah. Easy for them to prove they were authorized.

Crypto, if it became mainstream would put banks out if business. This is them trying to grab revenue while discouraging purchasing.
If crypto-currencies becomes mainstream one day (and they likely will, it just won't be bitcoin), the governments will regulate it and the banks will be all over it offering dual fiat/crypto currency support.

The banks are likely protecting themselves from all of the idiots out there who are signing up for or using their existing credit cards to buy large amounts of crypto-currency thinking it was an easy way to make money and with the recent dramatic drop in crypto-currency prices, a lot of those people are now ending up with huge debts they cannot pay back.
 
Major Banks Ban Buying Bitcoin With Your Credit Card
http://fortune.com/2018/02/04/banks-ban-buying-bitcoin-credit-card/

From that article ..
The moves are above all in the banks’ self-interest. As Fortune previously reported, the mania surrounding cryptocurrency late last year appears to have motivated many retail investors to use credit cards as leveraging tools, buying more cryptocurrency than they could afford. With Bitcoin down roughly 50% from December highs, many of those investors are likely underwater right now, and may not be able to pay off their initial Bitcoin purchases soon, if ever.
 
If crypto-currencies becomes mainstream one day (and they likely will, it just won't be bitcoin), the governments will regulate it and the banks will be all over it offering dual fiat/crypto currency support.

Exactly why I only invest in the ones trying to work with banks, governments and within regulations :D
 
Exactly why I only invest in the ones trying to work with banks, governments and within regulations :D
Unfortunately, there are a lot of average, and especially first time, investors who are/were viewing crypto-currencies as "get rich quick" plans because story after story was plastered all over social media how average people who were broke months ago suddenly were buying houses, cars, etc. and "living the life." They were thinking all they had to do was borrow some money which means using credit cards, loans, second mortgages, savings, etc. and in a couple months all of it would be paid back and they would be rich. Life is only that simple and easy for the rich.
 
Unfortunately, there are a lot of average, and especially first time, investors who are/were viewing crypto-currencies as "get rich quick" plans because story after story was plastered all over social media how average people who were broke months ago suddenly were buying houses, cars, etc. and "living the life." They were thinking all they had to do was borrow some money which means using credit cards, loans, second mortgages, savings, etc. and in a couple months all of it would be paid back and they would be rich. Life is only that simple and easy for the rich.

They do that with marijuana stocks too lol
 
giphy.gif
 
XsbIfpb.png



Doesn't the last 3 months of bitcoin pricing and volume tracking look like a mountain in the background of a city? :D

...
 
Senate Oversight Hearing today on cryptocurrencies

Very bullish on US crypto now. That was actually a reasonable, coherent session, outside of a few of the senators who probably get their grandkids to use their email for them.

Also picked up some great buys this morning before bitcoin started recovering.

All I do is win win win
 
Senate Oversight Hearing today on cryptocurrencies

Very bullish on US crypto now. That was actually a reasonable, coherent session, outside of a few of the senators who probably get their grandkids to use their email for them.

Also picked up some great buys this morning before bitcoin started recovering.

All I do is win win win

agreed.
 
Ripple (XRP) is centralized and terribly flawed, researchers say
https://thenextweb.com/hardfork/2018/02/06/ripple-report-bitmex-centralized/

You can tell they're idiots very quickly:

Among other things, BitMEX notes that while Ripple was initially conceived as a means to enabling a peer-to-peer trust network where individuals could directly lend funds to each other, its network architecture will most probably remain “unstable and the trust networks are unlikely to be regarded as reliable.”

Trust networks...are also known as proof of stake.

Ethereum is converting from proof of work to proof of stake...its called project casper.

Bitcoin is doing same...its called lightning network.

The only thing different xrp does is its a modification of proof of stake called consensus. The difference being coins are not mined.
 
Status
Not open for further replies.

Staff online

Forum statistics

Threads
464,054
Messages
13,786,136
Members
23,771
Latest member
LandryHat
Back
Top