i was trying to buy dip but found out my CC blocked coinbase. then i found out all major CCs now block coin purchases. reasoning makes sense: people were probably maxing out their CCs, but had no actual cash to pay it back, and now they are going belly up. sucks to be them. also sucks to be the people who cashed out their retirement and or sold their houses
looks like it bounced back to 8k. now the only option to buy coins is to link a bank account, but i dont want to link a real one so ill have to use a dummy savings account
No, its because the Banks felt that e-coin is too unstable and volatile. All major US Banks and Credit Cards are refusing Debit/Credit transactions and bank transfers for Crypto and are refusing loans for those who primary income is from Crypto. Also the IRS now are doubling down on anyone who profits on Crypto.
Not just that, but big international banks with branches in US, China, India and a few other places where Crpyto is ether ban or in a legal grey area are not accepting any transactions for Crypto.
Its crypto experts thats calling for a bounce, but the issue is all the crypto experts has a steak in crypto so I would take that claim with a grain of Salt.
US traditional fiances refusing to even touch crypto is going to make the whole thing harder to deal in and profit in.
Also the US Congress is meeting up with heads of the FTC and SEC to decide on Crypto regulations and possible laws on the topic.
Keep in mind Wall Street is in favor of Banning Crypto, so expect to see lobbyist pushing this.
Meaning you can have thousands of dollars in Crypto and no where to use it makes it next to worthless, while the IRS is still expecting you to pay for the property gained (regardless if you can exchange it to US currency or not).
Those who been investing in Cryptyo should cash in and abandoned ship now. Miners should cut their losses and ether should quit or just do mining as a hobby.
i think weâre saying the same thing. the volatility is impacting their bottom line because people werenât able to pay back their credit card bills, and people who went all in are getting wiped out and or killing themselves. i didnât hear about the ban on transferring from bank accounts directly? just credit card. also didnt hear about wall street wanting to ban it. they are making lots of money on the futures trading, why would they ban
US Banks in general are blocking transactions for both buyers and sellers, you ether need to exchange cash or pay by paper check soon (e-checks are also blocked).
As Hawkingbird said, crypto is becoming unreliable, itâs a very volatile market. Volatility in a market is a bad thing and can only make issues worse in the long run. He even posted a link to a article about it.
Wall Street wants nothing to do with Crypto as itâs the most volatile market out there. Even with the nature of stocks, trends can be predicted and there a calculation to the risk taken.
With Crypto and the complete lack of regulations on trading Crypto, The Financial/Investment world does not want to touch it with a 11 and a half foot pole.
Not even GPU makers and their Board partners to touch Crypto, the only reason they even make Crypto gear is that their primary customers are being hurt with the demands Crypto putting on the GPU market.
The purpose of making Crypto dedicated cards and boards are to relieve pressures on the PC market for the primary customers. PC part retailers donât know how to even stock for Graphic cards right now as Crypto fluctuates daily, and board orders are made quarterly (every 3 months) so its ether a Retailer is badly understock or overstocked.
Retailers such as Best Buy and Microcenter will now refuse to sell you a Graphics card if they know you are using it for crypto mining. Miners just buys out all the GPUs and nothing else and donât come back. PC Gamers are known to be repeat customers and buy a wider selection of merchandise.
On top of the market being volatile, the transaction speed of crypto is straight up trash. Bitcoin can only handle less than 10 a second. Litecoin is better with 56 transaction a second. Last month a major bitcoin confederence stopped accepting bitcoin as payment due to the high fees and transactions taking hours to process
Bitcoin has always been volatile so saying its becoming unreliable doesnât make sense - bitcoin has never been a stable store of value period. Before it was just a libertarian dream of a decentralized currency and to say fuck the fed, now its been flooded with speculators hoping to get rich quick. The problem is tons of speculators are jumping in and are using 0% leverage by maxing out CC or even selling everything they own and of course not being able to pay back. wallstreet doesnt give a shit about volatility, they make tons of money every day off making bets whether or not things go up or down. There is a literally an index called the VIX that tracks volatility, and they trade that. wallstreet != banks. banks want nothing to do with crypto and thatâs understandable. thatâs a separate issue. But my friend was able to transfer money from bank account directly to binance, so i dont think thatâs blocked yet. I donât think it will drop down to 0 either, like i said, there will always be libertarians who hate centralized banking
the slow transaction speed of bitcoin is an issue with bitcoin, but the other coins address and fix that.
One day I was interested in buying LTC, and then I stumbled across this dude page. He basically had this long ass list of coins in which he thought were great future buys.
And still a very actual thread, I would like to know if anyone uses websites to farm bitcoin. I canât find them and would be glad if you know something about it.
