LLoyd's Bank are banning Credit Card purchases of Bitcoin.

www.telegraph.co.uk...

Lloyds Bank in Bitcoin crackdown: credit card owners banned from buying cryptocurrency

Britain's biggest bank has become the first to announce a ban on customers using credit cards to buy Bitcoin amid fears they could run up huge losses. Lloyds Banking Group will on Monday tell its 9 million credit card customers that it will block any attempts to buy Bitcoin after the digital currency lost more than half its value in just two months.

The price of Bitcoin has fallen by 57 per cent from £14,000 in December to less than £6,000 and the bank fears it could end up footing the bill for unpaid debt should the price fall any lower.

Sell! Sell! Panic! Panic! The assassin is here. The make believe Bitcoin has had its day like all sick dogs. Sell while there is still a hope of getting a dime for a dollar.

Don't mess with Old Money. They are the Architects of the Matrix.

Just having a last laugh at a few people! Ho ho ho!

Serves you right for being so greedy.

a reply to: Revolution9

Is that sort of like a sanction? Use our currency plastic or else.

Hegemony of Dollars, Pounds, Marks is leverage, they hold it, not you. They can make you do whatever they want.

Iran, Korea, Russia, all feel the Hegemonic pressure.

a reply to: Revolution9

I just read an article yesterday say the largest bank in UAE had adopted ripple as a payment system.

So I dont think crypto is going anywhere. And people can still buy with there bank card just not on credit.

I don't at all understand the greedy sentiment. Why is it that this makes you so happy? I am not being critical, I just don't understand. Is it just an "I told you so" or something more?

And so the price will continue to fall...


Keep an eye on newer crypto that will not be affected. I still think that Bitcoin was just the experiment before the real deal got pushed out to the masses.

I kinda think that this was planned otherwise our government would have clamped down on bitcoin so hard when it was 1200$ per coin some years back. It seems like the US isn't even lifting a finger.

Crypto currencies are undergoing a major collapse.

The bank understands, and doesn't want people racking up lots of credit card debt that they will then refuse to pay off, just because they got nothing for spending that credit.

Other than that, a person should be able to do whatever he/she wants with their own money. But, in case of credit, it's other people's money they play with when buying bitcoin.

Yet, even some banks don't let depositors use their own bank funds to play the bitcoin game. The banks don't want depositors to run out of money, because then the banks deposits will collapse too.

So, some banks will not participate in helping you throw your money down the drain.

Even though, you should have the right to do so.

The crypto game is over. It's run it's course. We see this with the sheer number of different crypto currencies that have become available.

There's no value in something that is so easy to create.

Every boy or girl, dog and cat, now has a crypto coin that you can speculate in.

For something to have value it must be difficult to create.

So, while it's difficult to create a new "bitcoin", it's trivial to create a new "alt coin".

And therein lies the problem.

Every new coin that enters the marketplace, "devalues" the other coins that already exist.

And there's no limit to how many "new alt coins" can be created on the fly.

It's all imaginary assets measured in bits and bytes, of which the computing universe has an infinite supply.

originally posted by: sputniksteve
I don't at all understand the greedy sentiment. Why is it that this makes you so happy? I am not being critical, I just don't understand. Is it just an "I told you so" or something more?

The op has a vendetta against people who are happy and successful, it’s what happens when you have a chip on your shoulder......just read some of his threads in the rant section......( no that’s not an attack that’s an explanation addressing a question by the poster)

He has clearly not researched crypto currency, nor does he understand markets and where the revolutions of payment systems are inevitably headed......

They will soon ban other kinds of purchases sooner or later.. Soft Drinks, (jk) Guns and ammo perhaps..

They are doing it to protect their customers? Sounds legit.

a reply to: AMPTAH

When will people realise that 'money' is summoned up out of thin air? It is a magicians trick and we have all falen for it. people get left in destitute situations because of this.

I love seeing these sentiments.

originally posted by: StallionDuck
And so the price will continue to fall...


Keep an eye on newer crypto that will not be affected. I still think that Bitcoin was just the experiment before the real deal got pushed out to the masses.

I kinda think that this was planned otherwise our government would have clamped down on bitcoin so hard when it was 1200$ per coin some years back.

I couldn't agree with you more!
I see this as the initial test run for a future currency.
The support has been proven by the response.

Let these coins adjust to where they need to be, allow for market manipulations and corrections, let people make their money and lose it, and finally come to the last major network of currencies that remain digital and without physical tender. It has been in the making for decades. We are being held witness to the future.

Hold on! It's going to be a wild ride!

It seems like the US isn't even lifting a finger.

Actually, there's a lot of buzz that the Fed is a major player in the crypto market (which makes perfect sense). Whether to take it out, or join and take the reins, it would be foolish for them NOT to have a stake in it.

I do think that crypto will eventually become the defacto money of the future. However, there will be a LOT of growing pains on the way, and as people struggle to understand it, and for businesses to adopt it. This current volitility is actually expected, and necessary, but it will be tricky to see who is left standing, and when to buy in, and then when to reap the value of it, as a speculative investment.

Somebody invents a way out of centralized and manipulated currency, which is a major aspect of how TPTB holds power over you yet people are too dumb free themselves.

Do you think the powers that be would simply leave the crypto world alone, and allow it to subvert the old money systems? I can't join you in that dreamworld, much as I would like to. I believe they've never ignored the threat, and instead, work to manipulate it. It's certainly what I would do in their shoes (while also accumulating it).

I don't think many of us interested in crypto believe it will remain free from old money oversight and interference. Indeed, it is likely one of the stabilizing factors needed for eventual across the board adoption. The trick for us is, identifying those key currencies that will remain when the dust settles. (and getting into them cheap enough, for an eventual bigger return).