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MichMan

(11,865 posts)

9. This is more likely IMO

Reply to MisterProton (Reply #6)

Wed Feb 21, 2018, 08:40 PM

Feb 2018

Someone with a couple thousand $$ to their name buys $5K in bitcoin on a credit card expecting it will go way up in value and he can make a quick profit. Instead it loses and now the buyer is on the hook for paying the bill, but can't

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11 replies

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Buy bitcoin with credit cards? Big banks say 'no',why not say no to gun sales for with credit cards [View all] turbinetree Feb 2018 OP

Perhaps because one is a speculative currency swap, while the other is purchasing a legal product? MichMan Feb 2018 #1

Banks are, and have been wholly engaged in speculative currency swaps LanternWaste Feb 2018 #4

Using their own money to do so is different than lending to others MichMan Feb 2018 #5

Thats exactly right... MisterProton Feb 2018 #6

This is more likely IMO MichMan Feb 2018 #9

I don't think that is the scenario banks banked their decision on Tiggeroshii Feb 2018 #11

It won't help law enforcement much if ALL gun sales are cash-only. Bucky Feb 2018 #2

I'm guessing it's a risk aversion policy. LanternWaste Feb 2018 #3

Bitcoin is the biggest bestest Ponzi-Pyramid scheme ever. hunter Feb 2018 #7

I remember Paypal and some banks shunning internet piracy transactions. displacedtexan Feb 2018 #8

It would be better to require all guns to be paid for with cards, either credit or debit jmowreader Feb 2018 #10