Status
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V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
Capital One bank has just announced that it will stop processing crypto related purchases, including to exchanges like Coinbase. As the Merkle reports, this is not the first time a bank has denied crypto purchases to its customers, citing TD Bank blocking crypto purchases as well. Another individual said that Bank of America froze his account citing some ominous policy that didn't even apply to crypto. PNC Bank has also gone this route, threatening to close a customers account for buying Bitcoin. Some, including Charles Hoskinson of Cardano, are speculating that the banks may be playing a role in the huge crypto market crash that started two days ago and has yet to recover (see his tweet below). As the cases of bank rejection grow many people online are advising people to simply switch banks. The problem is that since the banks don't want a free market, they are all following each others lead and making it harder and harder to buy crypto using a bank account or credit card. The reality is that many banks are finally realizing that not only is crypto outperforming them in many significant ways, but that a large percentage of people (their customer base) are figuring that out as well. They are quickly realizing that if the potential of the emerging crypto market is fully realized, their hegemony will abruptly come to an end and the banks will find themselves on the ash heap of history. And this is why, as the subject line iterates, the bankers will not go gentle into that good night (to borrow from Dylan Thomas's famous poem). This will be a long arduous battle, but if we all want a sea change in the way we interface in commerce and no longer wish to afford a cadre of private, for profit bankers to dictate how we trade goods and services with each other, we (the crypto community) need to ban together, hold strong, and not be swayed by a plutocratic, dinosaur industry that is singing its swan song.
 
Joined
Jan 2018
From
Anonland
These govs. Are so afraid of the crypto. They're so afraid of change that they deny it or ban it. Fucking old dicks in uniforms men I hate that shit. When the people of the world can change the way we live, many govs put stop to that. They say btc is a bubble ofcourse it is

When the major players don't want to coop because it makes the poor rich or intelligent. Gtfoh.

News like this gets on my nerves.


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Joined
Jan 2018
From
Michigan, USA
These govs. Are so afraid of the crypto. They're so afraid of change that they deny it or ban it. Fucking old dicks in uniforms men I hate that shit. When the people of the world can change the way we live, many govs put stop to that. They say btc is a bubble ofcourse it is

When the major players don't want to coop because it makes the poor rich or intelligent. Gtfoh.

News like this gets on my nerves.


Sent from my iPhone using Tapatalk
Go with banks that still allow you to spend your money how you see fit, this seems illegal, I put MY money IN THERE INSTITUTION how can they tell me HOW I spend it SOMEONE GET A LAWYER ON BOARD! Thank goodness my bank so far has not done this or I swear it'd be me sueing I EARN that money! I use USAA if you or any family ever served in Military this Bank is for you!

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V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
Go with banks that still allow you to spend your money how you see fit, this seems illegal, I put MY money IN THERE INSTITUTION how can they tell me HOW I spend it SOMEONE GET A LAWYER ON BOARD! Thank goodness my bank so far has not done this or I swear it'd be me sueing I EARN that money! I use USAA if you or any family ever served in Military this Bank is for you!

Sent from my XT1585 using Tapatalk
That's actually the problem. Technically it's not your money. We falsely think it's "our" money but it's actually "their" money. We haven't had what might be considered "real" money since we used gold, or at the very least since greenbacks were still redeemable in gold or silver. That all changed, in the US, with the Federal Reserve Act and the slew of banking laws that came as part of the so called New Deal in 1933-1935, including 48 Stat 48 which outlawed gold as money and superseded the US Constitution by allowing a foreign entity to print and regulate the value of what we are now forced to use as money which is in fact a depreciating debt instrument. We pay interest to the Federal Reserve to use their currency, which as I said is merely a debt instrument or IUO. The US is bankrupt and has been for over a century and we've been under administrative law ever since. If we want to change this, crypto is our chance. But we have to stay focused and vigilant.
 
Joined
Jan 2018
From
Michigan, USA
That's actually the problem. Technically it's not your money. We falsely think it's "our" money but it's actually "their" money. We haven't had what might be considered "real" money since we used gold, or at the very least since greenbacks were still redeemable in gold or silver. That all changed, in the US, with the Federal Reserve Act and the slew of banking laws that came as part of the so called New Deal in 1933-1935, including 48 Stat 48 which outlawed gold as money and superseded the US Constitution by allowing a foreign entity to print and regulate the value of what we are now forced to use as money which is in fact a depreciating debt instrument. We pay interest to the Federal Reserve to use their currency, which as I said is merely a debt instrument or IUO. The US is bankrupt and has been for over a century and we've been under administrative law ever since. If we want to change this, crypto is our chance. But we have to stay focused and vigilant.
Ok so even though I make x dollars an hour working, none of it's mine. Ok I kinda get that but banks should still not allow stopping how we spend our IOU, on illegal purchase s I get that, but crypto is not illegal ( though some places are trying to make it such) The banks don't say sorry we won't process that transaction because your buying alcohol or tabacco and that's not good for you. Yet if people set back and not try to sue or bring these refuses of purchase to light GLOBAL. These banks could potentially decide exactly how we spend our IOU, not good.

Sent from my XT1585 using Tapatalk
 
Joined
Jan 2018
From
Michigan, USA
Capital One bank has just announced that it will stop processing crypto related purchases, including to exchanges like Coinbase. As the Merkle reports, this is not the first time a bank has denied crypto purchases to its customers, citing TD Bank blocking crypto purchases as well. Another individual said that Bank of America froze his account citing some ominous policy that didn't even apply to crypto. PNC Bank has also gone this route, threatening to close a customers account for buying Bitcoin. Some, including Charles Hoskinson of Cardano, are speculating that the banks may be playing a role in the huge crypto market crash that started two days ago and has yet to recover (see his tweet below). As the cases of bank rejection grow many people online are advising people to simply switch banks. The problem is that since the banks don't want a free market, they are all following each others lead and making it harder and harder to buy crypto using a bank account or credit card. The reality is that many banks are finally realizing that not only is crypto outperforming them in many significant ways, but that a large percentage of people (their customer base) are figuring that out as well. They are quickly realizing that if the potential of the emerging crypto market is fully realized, their hegemony will abruptly come to an end and the banks will find themselves on the ash heap of history. And this is why, as the subject line iterates, the bankers will not go gentle into that good night (to borrow from Dylan Thomas's famous poem). This will be a long arduous battle, but if we all want a sea change in the way we interface in commerce and no longer wish to afford a cadre of private, for profit bankers to dictate how we trade goods and services with each other, we (the crypto community) need to ban together, hold strong, and not be swayed by a plutocratic, dinosaur industry that is singing its swan song.
Another reason a crypto ATM is needed! And debit cards to go along!

Sent from my XT1585 using Tapatalk
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
Ok so even though I make x dollars an hour working, none of it's mine. Ok I kinda get that but banks should still not allow stopping how we spend our IOU, on illegal purchase s I get that, but crypto is not illegal ( though some places are trying to make it such) The banks don't say sorry we won't process that transaction because your buying alcohol or tabacco and that's not good for you. Yet if people set back and not try to sue or bring these refuses of purchase to light GLOBAL. These banks could potentially decide exactly how we spend our IOU, not good.

Sent from my XT1585 using Tapatalk
All valid points. The problem is the foxes are guarding the henhouse and Hitler is running the Nuremberg trials.
 
Joined
Jan 2018
From
Michigan, USA
That's actually the problem. Technically it's not your money. We falsely think it's "our" money but it's actually "their" money. We haven't had what might be considered "real" money since we used gold, or at the very least since greenbacks were still redeemable in gold or silver. That all changed, in the US, with the Federal Reserve Act and the slew of banking laws that came as part of the so called New Deal in 1933-1935, including 48 Stat 48 which outlawed gold as money and superseded the US Constitution by allowing a foreign entity to print and regulate the value of what we are now forced to use as money which is in fact a depreciating debt instrument. We pay interest to the Federal Reserve to use their currency, which as I said is merely a debt instrument or IUO. The US is bankrupt and has been for over a century and we've been under administrative law ever since. If we want to change this, crypto is our chance. But we have to stay focused and vigilant.
I saw an article once that said Gold was just an object what made it valuable? The belief that it's valuable. If people believe it's valuable it is. It can be made into jewelry n teeth fillings but truly it's the belief. Crypto currencies have become that belief. Don't give in to the BANKS, GOVERNMENTS.

Sent from my XT1585 using Tapatalk
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
I saw an article once that said Gold was just an object what made it valuable? The belief that it's valuable. If people believe it's valuable it is. It can be made into jewelry n teeth fillings but truly it's the belief. Crypto currencies have become that belief. Don't give in to the BANKS, GOVERNMENTS.

Sent from my XT1585 using Tapatalk
True. Any economic system is built on trust, belief, and a system of rules. Even the fiat dollar could work if the rules were fair and unchangeable anytime a politician wanted to pay for a social program via inflation, or the bankers wanted to start another war to exploit a poorer country. Look up the history of tally sticks. A system of money used in Britain that lasted over 700 years. Anything can work as a facilitator or exchange, provided the rules of the system are fair and unchanging. If Bitcoin decided tomorrow that it would create another 20 million coins, people would lose faith and it would go the way of the Buffalo.
 
Joined
Jan 2018
From
Anonland
Go with banks that still allow you to spend your money how you see fit, this seems illegal, I put MY money IN THERE INSTITUTION how can they tell me HOW I spend it SOMEONE GET A LAWYER ON BOARD! Thank goodness my bank so far has not done this or I swear it'd be me sueing I EARN that money! I use USAA if you or any family ever served in Military this Bank is for you!

Sent from my XT1585 using Tapatalk

I live in europe, my country is still in discussion. 45% of politicians say ban it or put fitting taxes on it, the other side says definitely put taxes on it and a restriction of the amount of coins you can have .....their perspective on this is the same as on criminal activities. because the darkweb is using it for criminal purposes.

And it would amaze you of how many criminals world wide are using btc to launder money.

Destroying is a habit of men.


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V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
I live in europe, my country is still in discussion. 45% of politicians say ban it or put fitting taxes on it, the other side says definitely put taxes on it and a restriction of the amount of coins you can have .....their perspective on this is the same as on criminal activities. because the darkweb is using it for criminal purposes.

And it would amaze you of how many criminals world wide are using btc to launder money.

Destroying is a habit of men.


Sent from my iPhone using Tapatalk
The irony of that is that cash is used far more for “criminal activity” than crypto ever has been. And the biggest launderers of money are commercial banks. The reality is, just like the drug trade, government’s don’t want to end it, they want to control it and maximize their profit by controlling it.
 
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