yet they still allow you to buy cigarettes and beer. So they're ok with letting you die of cancer, just not buying bitcoin. Another centralized company (or group of companies) trying to control your actions.
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cant this be said about any of the "traditional stocks"? lets be real here, it should ultimately be up to the individual to decide if the risk that comes with investing is worth it or not- whether dealing with crypto or NYSE
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You can't buy stocks with a credit card, so that comparison doesn't make sense. This isn't about risk to the investor, it's about the risk that the credit card company is taking when they loan money to someone investing in a cryptocurrency
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I never said I am in favor of allowing crypto to be bought on credit card, in fact, I think it’s a bad idea. The problem I have with the article/statement is how they’re so negative about a price drop leading to loss of money, when traditional stocks carry a huge risk as well
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If stocks drop, the investor loses money. If crypto drops, and people have bought it on credit, both the investor and the lender lose money. They're "so negative" because the article is written from the view of a lender, not an investor
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Um people have been using balance transfer and cash advance to buy stocks with credit cards for ever. This is a stupid discussion.Banks extend credit to ppl who cant pay back since begining of credit. N dey luv it.
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It doesn't really matter what you think about banks & credit companies, but they have to stay within certain risk guidelines. They've found that having clients using their money to invest in crypto violates those guidelines. I really don't see what the problem is
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No problem just pointing out the facts. For what it’s worth I think all forms of loans should be outlawed.
End of conversation
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So they go against the principles of capitalism and freedom to make it seem like they are protecting customers. Ironic!
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Isn’t that what stop loss orders are for?
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No. Non.
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Yeah as soon as u can buy lotto tix with a credit card.
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Unfortunately, lottery tickets don't offer any type of new technology that can (in some countries already is) change the world.
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Meaning
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Straight from the horses mouth why bitcoin is a scam
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So now they know what is best for you?! Why are you allowed to use credit cards at the casino then?
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This has nothing to do with what is best for the investor. This has to do with what is best for their company. They are unwilling to take the risk of loaning money to people to buy crypto, which is a completely fair risk management decision
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But they will let you use your credit card to gamble with.... so what is the point? If you are liable for the losses then you are liable and you have to pay it back with interest to the company. If you cant be trusted to do that then you shouldnt have a credit card period.
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Gambling has well defined rules and is easy to mathematically predict losses, which makes a risk managers job easy. Bitcoin has no such rules, and is susceptible to BlackSwan-esque movevments up & down which are by definition impossible to predict
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So is a death in the family, a serious illness or unexpected unemployment....
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Yes but in aggregate even those are predicable. Death rates etc. Again, this is not about any individual investor. This is about market risk which is NOT diversifiable, so the credit companies may want to stay out altogether
End of conversation
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