Lloyds Bank first in UK to stop credit card Bitcoin purchases

[Corky34]

We can't have people gambling with other peoples money, only the banks are allowed to do that.

[DaMoot]

As a gamer, I really hope this happens to other, GPU-mined, cryptocurrencies as well.

Edit! I think it's happening:
https://www.ebay.co.uk/itm/Asus-Rade...QAAOSwrslaeDj~

No, but hopefully you just got scammed by that guy for being a prat. There have been video card scams for those prices for the past month solid. Anyone who thinks they can get a 580 8GB for $130 is a moron.

[DaMoot]

Yeah, we're seeing a precipitous decline BECAUSE of backward thinking financial institutions like this. rubbishrubbishrubbishrubbishbirds who are making money, but fear that they are going obsolete due to how the money is being made.

Isn't it cute they made a little graph for crypto. I bet I could fit anything on that graph and have it look just as bad.

[Corky34]

While I'm all for free speech is there a need to be so antagonistic?

[CAT-THE-FIFTH]

There seems to be a lot of that on eBay recently, that account is almost certainly hacked unless someone who sold a few dresses more than a year ago suddenly came into possession of tens of graphics cards and Macbook's.

Possibly.

Though, looking though ebay there's a lot of newly listed 1080/1070/1080Ti/RX 580s coming up dirt cheap (brand new and pre-owned), so I'm not entirely convinced it's a hacked account.

Either way, if it is a scam/hacked account, I won't lose any money (thanks, paypal!)

I tend to be a bit weary unless the feedback suggests its a legit selling pattern.

We can't have people gambling with other peoples money, only the banks are allowed to do that.

I LOLed.

[Xlucine]

Yeah, we're seeing a precipitous decline BECAUSE of backward thinking financial institutions like this. rubbishrubbishrubbishrubbishbirds who are making money, but fear that they are going obsolete due to how the money is being made.

Isn't it cute they made a little graph for crypto. I bet I could fit anything on that graph and have it look just as bad.

How many BTC did you buy?

As a gamer, I really hope this happens to other, GPU-mined, cryptocurrencies as well.

I wonder how much of an environmental impact mining cryptocurrencies has had over the years...

Edit! I think it's happening:
https://www.ebay.co.uk/itm/Asus-Rade...QAAOSwrslaeDj~

ETH is going down too

[utopic]

Yes, thank the almighty for the banks protecting us from the people laundering monnies with their credit cards. Now the naughty monnies launderers are going to have to use bags of nickels and they're going to get back aches from all the heavy lifting.

We are SAVED by the banks!

How could I have ever imagined that they're doing it so that they don't loose any monnies?

[kalniel]

Yes, thank the almighty for the banks protecting us from the people laundering monnies with their credit cards. Now the naughty monnies launderers are going to have to use bags of nickels and they're going to get back aches from all the heavy lifting.

We are SAVED by the banks!

How could I have ever imagined that they're doing it so that they don't loose any monnies?

1) Of course they're doing it so they don't get as exposed to bad debt.
2) They're still allowing you to buy bitcoins, they're just not as easily lending you money to do so.

[ByteMyAscii]

"decrease both financial and legal risk."
For themselves - not their customers.
They still let anyone gamble their money away at betting shops.

[tonyd2233]

You telling me how to spend my money? REALLY?

[kalniel]

You telling me how to spend my money? REALLY?

No, they're really not.

[DanceswithUnix]

This. They're literally just cracking down on something they are fearful of as competition or something that will make them redundant. Nothing to do with caring about customers.

Redundant? Blockchain has been discussed to death, and now another tool of the establishment. Long term if there is money to be made then the banks and pension companies will be there, that is their job and they have been doing it for long time.

[Corky34]

You telling me how to spend my money? REALLY?

It's not your money, the hints in the name Credit Card.

[SHSPVR]

Your Free Tax Ride is all over

[Millennium]

Apparently Virgin Money have followed Lloyds on this. There are many things you can't buy with Credit Cards already though, apparently including (notionally) shares and gambling chips. So it's not a big deal if you are in any way fiscally responsible. No Big Deal

[aidanjt]

It's not your money, the hints in the name Credit Card.

It's your money when you spend it, right up until it's transferred to the merchant, anyway. It just comes with the caveat that you have to pay it back. Whether the 'merchant' is an ATM machine, shop, etailer, or Bitcoin exchange is irrelevant. If the bank suspects you can't afford to repay a line of credit, they shouldn't offer it in the first place.