VISA issuers and Mastercard make it harder to buy Bitcoin and other cryptocurrencies Posted Feb 5, 2018 by Justin Mauldin (@JustMauldin)

VISA issuers and Mastercard make it harder to buy Bitcoin and other cryptocurrencies Posted Feb 5, 2018 by Justin Mauldin (@JustMauldin) VISA issuers and Mastercard make it harder to buy Bitcoin and other cryptocurrencies Posted Feb 5, 2018 by Justin Mauldin (@JustMauldin)Richard Bowles · Oklahoma City, Oklahoma I guess this is the credit cards company's way of cashing in on crypto without having to actually buy some. The fact the fees are so high ~ lends itself to an unaccredited / scammy appearance of cryptocurrencies... Banks have been scammy for ever - BOA is closing down most of their internal branches - my local branch has office hours of 9am - 4pm ... intentionally dodging 5pm after work rush.. and 8am pre work rush .. usually dodging customers would be bad for business... but apparently BOA ran the numbers. *not to mention their 1500 daily average balance for free checking. Like · Reply · Feb 5, 2018 1:22pm Ari Mattson Who needs to go to a bank branch? Everything can be done on your mobile. Cost saving for the business and time saving for the consumer. Like · Reply · 2 · Feb 5, 2018 3:28pm Richard Bowles · Oklahoma City, Oklahoma Ari Mattson Please share how to deposit cash through my mobile? Perhaps I want to speak with the loan manager about a loan? Getting a cashiers check for closing on a house.. There is certainly a reason cause every time I go there is a long line. Like · Reply · 2 · Feb 5, 2018 4:12pm Jeremy Krumsick Richard Bowles Why deposit cash? Who has cash these days that needs to be deposited except businesses? Use Venmo or quickpay or something else. Why not call the loan manager instead of visit in person? Sure, get a cashiers check from the Bank. One of the last reasons you need to go. Anyway this banter makes no difference to the banks - who see their branches as what they are - large expenses that have reduced in value and hence they'll keep pairing them down. Like · Reply · Feb 6, 2018 7:57am Jon Targasian Because you are buying currency. Like · Reply · 5 · Feb 5, 2018 1:35pm Steve Davies · The University of Auckland PONZI's need money to continue growing. Crypto is already being decimated.... this is another nail in the coffin. Like · Reply · 1 · Feb 5, 2018 1:42pm Covey WhiteGold · Edmonton, Alberta Ever hear of localbitcoins or ATM Bitcoin Machines every where??? Thier are many, many ways other than credit or debit cards to purchase Bitcoin, quickly and safely. Like · Reply · 3 · Feb 5, 2018 1:53pm Tee Baggin · Las Vegas, Nevada With a fee of 18-19 percent on the highest atms others are around 6-9% so if you can find the right btc ATM you can get the same price as coinbase and you can be anonyomous. Like · Reply · Feb 6, 2018 4:11pm Mike Brown The genie is out of the bottle already.They are just delaying their own downfall....An alternative to these greedy gatekeeprs will be created. Like · Reply · 2 · Feb 5, 2018 2:27pm Ari Mattson BTC is a (highly-fluctuating) asset, not a currency. Until it become stable, crypto won't be adopted as a currency replacement. Like · Reply · 3 · Feb 5, 2018 3:31pm Steve Davies · The University of Auckland Really? If I buy a $3 coffee using bitcoin, the transaction cost is $40. Tell me who is ripping off who now?? Like · Reply · 2 · Feb 5, 2018 4:56pm Chris Barnett Ari Mattson Most cryptocurrency maximists aren't gunning for BTC to become a replacement currency....national fiat currencies are much needed. BTC is a good place to park wealth up on the medium term. It's has become a medium to long term store of wealth. Like · Reply · 2 · Feb 5, 2018 6:37pm Show 2 more replies in this thread Hong Li · Mountain View, California Maybe it has something to do with a recent surge in credit card delinquencies: https://www.forbes.com/.../are-americans-buying.../... https://seekingalpha.com/.../4139135-credit-card... Like · Reply · 2 · Feb 5, 2018 2:39pm Jenner Little The banking system is terrififed and think we'll see many knee jerk reactions and proxy fights with crypto as they either adapt or die. Like · Reply · 1 · Feb 5, 2018 3:18pm Steve Davies · The University of Auckland Banks and credit card companies are in the business of credit. Why would they fret over crypto?? Crypto requires the user to exchange real money for over 1200 different coins or tokens that you can do nothing with. There is no benefit here for the end consumer. Like · Reply · Feb 5, 2018 4:59pm Tien V Nguyen · San Diego, California "Currently, if you want to buy bitcoin, ethereum or any other alt-coin instantly, the *only* option is to use your debit or credit card. Transferring funds from your bank has lower fees, but takes several days. " Not sure you understand what "only" means. Like · Reply · 2 · Feb 5, 2018 4:45pm Danny Baker · Ohio state They specifically say if you want to buy it INSTANTLY, credit/debit is only option. True statement Like · Reply · 1 · Feb 5, 2018 11:09pm Steve Davies · The University of Auckland Credit card companies and banks are not worried by Bitcoin, because they are in the business of credit. Once people get their head around that, then you will realise that crypto doesn't really stand a chance when you consider most of middle America owes money. Like · Reply · 1 · Feb 5, 2018 4:53pm Jeremy Krumsick This is true. What the credit cards have is a great way to... build credit. So comments like this - "The rise of bitcoin and future cryptocurrency is tied to the eventual fall of financial middlemen like VISA and Mastercard. Maybe they just woke up to it." aren't getting the full picture. Like · Reply · Feb 6, 2018 8:01am Thomas Staskiewicz · City Of Port-Of-Spain, Port-Of-Spain, Trinidad And Tobago hahaha they really are scared now huh. Finally something rattles there cages! If they think adding fees is gonna help deter people then they are wrong...them adding fees is THE EXACT REASON we need cryptocurrencies more than ever to cut them down at the knees. That 10% will cost them more than they thing 😂😂 Like · Reply · 2 · Feb 5, 2018 5:57pm Rafael Kireyev · Almaty University of Power Engineering and Telecommunications They have preferred "war" to integration. So, soon there will be a lot of new "Kodaks." Like · Reply · 2 · Feb 5, 2018 6:16pm Chris Barnett This is a GOOD thing. OK. It's a GOOD thing. 5% is nothing compared to the gains, but it eliminates a lot of the risks associated with chargebacks. People will still buy lots of cryptos with their debit cards, but with it being pegged as a cash advance, then there is a lot less risk from chargebacks. That means that the whoever runs the merchant account for the exchange, doesn't have to run any risks, nor will be knocking on the door for the exchange for collateral to cover 3 months worth of transactions. That was hampering growth. Why do you think Coinbase had to raise loads of money so they can service new users? Most of it would have been tied up as collataral against debit/credit card chargebacks....See More Like · Reply · Feb 5, 2018 6:33pm Joe Bell · H.N.I.C. at I don't work for you, that's all you need to know. Hakem Like · Reply · 1 · Feb 5, 2018 7:07pm Tomaž Wigele · Ekonomsko-poslovna fakulteta Maribor "The rise of bitcoin and future cryptocurrency is tied to the eventual fall of financial middlemen like VISA and Mastercard. Maybe they just woke up to it." BOOM! Like · Reply · Feb 5, 2018 11:53pm Prakash Nadar · N G Acharya and D K Marathe College Yes this totally makes sense.. Buying cash with credit is what peoplepare doing. Like · Reply · Feb 6, 2018 2:26am Dominic Watson · R&D Developer at XCaliber This is a cartel Like · Reply · Feb 6, 2018 4:30am Charles Root Jr · Underhill, Vermont So go to the store, buy a one use debit card, go to Coinbase, use the debit card there. No fee. Like · Reply · Feb 6, 2018 5:55am Azrael Franc · Itt-Technical Institute Richardson,Texas They wouldnt be fighting it, if it wasnt a threat to their predatory banking system, the more the banking cartels fight crypto the more I will trust it. When have banks ever looked out for our best interest, examples such as Wells Fargo, Bank of America, HSBC etc speak for themselves.