HomeBusinessFriday, October 19, 2018, 10:33:25

Tuesday, August 21, 18, 07:03:33, 2 Months Ago Via mohammadsher1000 In Business

Rated 0 out of 5 stars based on 0 reviews.
Hits: 0

CoinOrBitcoin - Subscribe to all The Latest News and Insights to the Financial Markets with Our Monthly Corporate Newsletter. Complete information related to crypto currency - coinorbitcoin.com

crypto market

Coinorbitcoin

CoinOrBitcoin - Subscribe to all The Latest News and Insights to the Financial Markets with Our Monthly Corporate Newsletter. Complete information related to crypto currency - coinorbitcoin.com

crypto price

crypto currency

crypto coin

crypto market

The news this week is that several banks in the USA and the UK have banned the use of credit cards to purchase crypto currencies (CC's). The stated reasons are impossible to believe - like trying to curtail money laundering, gambling, and protecting the retail investor from excessive risk. Interestingly, the banks will allow debit card purchases, making it clear that the only risks being protected are their own.

With a credit card you can gamble at a casino, buy guns, drugs, alcohol, pornography, everything and anything you desire, but some banks and credit card companies want to prohibit you from using their facilities to purchase crypto currencies? There must be some believable reasons, and they are NOT the reasons stated. One thing that banks are afraid of is how difficult it would be to confiscate CC holdings when the credit card holder defaults on payment. It would be much more difficult than re-possessing a house or a car. A crypto wallet's private keys can be put on a memory stick or a piece of paper and easily removed from the country, with little or no trace of its whereabouts. There can be a high value in some crypto wallets, and the credit card debt may never be repaid, leading to a declaration of bankruptcy and a significant loss for the bank. The wallet still contains the crypto currency, and the owner can later access the private keys and use a local CC Exchange in a foreign country to convert and pocket the money. A nefarious scenario indeed.   crypto market

We are certainly not advocating this kind of unlawful behavior, but the banks are aware of the possibility and some of them want to shut it down. This can't happen with debit cards as the banks are never out-of-pocket - the money comes out of your account immediately, and only if there is enough of your money there to start with. We struggle to find any honesty in the bank's story about curtailing gambling and risk taking. It's interesting that Canadian banks are not jumping on this bandwagon, perhaps realizing that the stated reasons for doing so are bogus. The fallout from these actions is that investors and consumers are now aware that credit card companies and banks really do have the ability to restrict what you can purchase with their credit card. This is not how they advertise their cards, and it is likely a surprise to most users, who are quite used to deciding for themselves what they will purchase, especially from CC Exchanges and all the other merchants who have established Merchant Agreements with these banks. The Exchanges have done nothing wrong - neither have you - but fear and greed in the banking industry is causing strange things to happen. This further illustrates the degree to which the banking industry feels threatened bycrypto market

 

At this point there is little cooperation, trust, or understanding between the fiat money world and the CC world. The CC world has no central controlling body where regulations can be implemented across the board, and that leaves each country around the world trying to figure out what to do. China has decided to ban CC's, Singapore and Japan embrace them, and many other countries are still scratching their heads. What they have in common is that they want to collect taxes on CC investment profits. This As people around the world get more fed up with outrageous bank profits and bank overreach into their crypto market

 

 

 

 

 

 


Comments

Sign In

About Author
mohammadsher
Date Registered: Tue, Aug 29, 2017
Last Time Online: Fri, Oct 19, 2018
So far has created 659 entries.
mohammadsher1000
i am good boy

1.Seanwhiteweddingfilms.co.uk - Social Bookmarking - 7

2.Thecorporationroadsurgery.com :-

3.Directsoftwareoutlet.com - Article Submission - 10 , Web 2.0 - 3

4.Aabestchoice.com :- Article Submission - 10 , Web 2.0 - 3 , Social Bookmarking- 8

5.Rtdstruckingschool.com :- Article Submission - 7, Classified Posting - 9,Social Bookmarking - 5

6.HappinessNowHypnosis.com :- Social Bookmarking - 5

Home Page

Related Articles

If you are working in a business to consumer model, you will need to identify and then be able to jump over several hurdles for your business to run successfully. It is not easy to run a business, and it is especially challenging to keep your business above water when the market is competitive. If you work in the vaporizer industry, you know that competition is high, and that you will need to think more creatively about a strategic plan to keep your vaping company successful and unique. You will...

Mar 15, 18, 8 Months Ago Via kingdomvapor In Food and Drink

Vigorous Extend - It's Have A Natural Ingredients

Vigorous Extend also has advantages, although maybe that's different. There is a busy market. In addition to this, that's the occasion to get out there and do thisself and it was wildly underpriced at this time. I can never to let that occur with their problem again. In that case, I'd suggest you do this. I, feelingly, have to be ordered to conceive of gentlemen doing it. Where can friends trip over new age Vigorous Extend guidebooks? There might be more than one way to herd a cat. You can get t...

Mar 15, 18, 8 Months Ago Via vrgimpbell In Health and Fitness

Love the Nature? Use Biodegradable Cutlery to Make Valuable Contribution to the Environment

  We all talk about environment protection and safety, but how many of us make any contribution towards the same. Use of non-biodegradable products especially plastic is major threat to the environment safety. Most of us know this fact, but still ignore it when it comes to making use of such products on day to day basis.   Use Biodegradable Products for Environment safety   The use of eco-friendly products, i.e. Biodegradable Food Trays and cutlery is available in the market ...

Mar 15, 18, 8 Months Ago Via Cosmosecofriends In Business

There are various reasons why a business owner takes the decision to part ways with the business enterprise they have dedicated their professions towards creating.For many people, common known reasons for selling a venture are retirement, attempting to move to another opportunity, or ailment. Therefore, you should carefully consider everything that should be done when you put your business on the market for sale.First of all, you will like to know what a buyer is ready to pay and how to sell you...

Mar 15, 18, 8 Months Ago Via bizprofitpro In Business

According to the Yardeni Research report on bull and bear markets, over the past eight and a half years since prices bottomed out during the financial crisis, the stock market has returned an annualized 19% or so. But it’s also clear that stocks go into periodic, prolonged slumps, falling nearly 40% on average over a period of a year in the 20 bear markets since 1929. With so many people getting accustomed to shares, the stock market and learning the trade, there are even more rising to th...

Mar 16, 18, 8 Months Ago Via investingsecrets In Business

The Seiko prowessSeiko, despite conceptualizing and producing the world’s first solar-powered quartz watches never made it prevalent in the world market but their focus has always been on how to improve the technology further along with the looks. The result is a tremendous progress in the Seiko designs compared to its competitors and the Seiko Solar Chronograph SSC301P1 SSC301P SSC301 Mens Watch demonstrates the quartz prowess of the brand that writes a different chapter altogether.Visual...

Mar 9, 18, 8 Months Ago Via creationwatchesjp In Fashion

For years people have been smoking. Some of them preferred marijuana using different methods of smoking. The time has changed now and with the advancement of technology, the vape pens have been introduced on the market. Vapes has made it easy for the people to smoke marijuana. The biggest attraction of the vape pens is that it allows setting the temperature of the marijuana vapors that makes it easy to enjoy the effect of the drug. Most of the people have the misconception that differe...

Mar 9, 18, 8 Months Ago Via stanlys In Health and Fitness

  Medical alert systems or panic alarms came into the mainstream market around 1977. The target market during this time, as it still is today, was the elderly person past their eighties who either had some medical issues or were living alone at home. The most common concerns for seniors when panic alarm systems started gaining fame was falling and being unable to get to the phone. Although today there are mobile phones, this has still remained a concern since most elderly people fin...

Mar 10, 18, 8 Months Ago Via Devon_Suresafe In Health and Fitness

Tag Cloud