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Thread: Lloyds Bank first in UK to stop credit card Bitcoin purchases

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    Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Worries that customers may suffer from a precipitous drop in cryprocurrency values.
    Read more.

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    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~

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by afiretruck View Post
    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~
    I think that must be hacked account - a £136 12" Macbook sounds like a scam to me!!


    Those despicable Elk,stealing the pond weed!

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    To be fair Lloyds are cracking down on everything... my other half has had nothing but troubles from them recently
    Old puter - still good enuff till I save some pennies!

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    So they block Crypto purchases but are completely fine with you funding a gambling website, or fiat trading platform, or CFDs from your card....all of which are infinitely more risky?

    Sounds an odd thing to do likely very much marketing/PR focused. It won't make any real difference.

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by Spud1 View Post
    So they block Crypto purchases but are completely fine with you funding a gambling website, or fiat trading platform, or CFDs from your card....all of which are infinitely more risky?

    Sounds an odd thing to do likely very much marketing/PR focused. It won't make any real difference.
    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.

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by CAT-THE-FIFTH View Post
    I think that must be hacked account - a £136 12" Macbook sounds like a scam to me!!
    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.

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by CAT-THE-FIFTH View Post
    I think that must be hacked account - a £136 12" Macbook sounds like a scam to me!!
    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!)

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by afiretruck View Post
    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!)
    Just picked up a Powercolor Red Devil Radeon RX580 for £70, fingers crossed it is real, thank the lord for buyer protection:

    https://www.ebay.co.uk/itm/PowerColo...YAAOSwMqBaeFGM

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by Tabbykatze View Post
    Just picked up a Powercolor Red Devil Radeon RX580 for £70, fingers crossed it is real, thank the lord for buyer protection:

    https://www.ebay.co.uk/itm/PowerColo...YAAOSwMqBaeFGM
    Nah, another hacked account.

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by Mr_Jon View Post
    Quote Originally Posted by Tabbykatze View Post
    Just picked up a Powercolor Red Devil Radeon RX580 for £70, fingers crossed it is real, thank the lord for buyer protection:

    https://www.ebay.co.uk/itm/PowerColo...YAAOSwMqBaeFGM
    Nah, another hacked account.
    Yup, listing got removed, now there's a 1080ti account!

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by Mr_Jon View Post
    Nah, another hacked account.
    Can confirm. Just had my £90 GTX 1080 Tis cancelled by ebay :'(

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by afiretruck View Post
    Can confirm. Just had my £90 GTX 1080 Tis cancelled by ebay :'(
    Worth a try! My £125 1080ti got cancelled, Paypal and ebay have just returned all my moneys

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    This applies to credit card transactions only. Current account customers can still use their own money to buy make a legal purchase.

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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by Spud1 View Post
    So they block Crypto purchases but are completely fine with you funding a gambling website, or fiat trading platform, or CFDs from your card....all of which are infinitely more risky?

    Sounds an odd thing to do likely very much marketing/PR focused. It won't make any real difference.
    Most credit cards regard gambling as a cash advance, and most gambling halls/casinos don't allow purchases with credit cards - although online sites do.

    Lloyds are still allowing debit card purchases for crypto currencies. Personally I think the volatility of Crypto Currencies (and in particularly Bitcoin) makes it significantly riskier than many other forms of investment (or gambling) and I can see why Lloyds might want to limit their exposure to the risk.
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    Re: Lloyds Bank first in UK to stop credit card Bitcoin purchases

    Quote Originally Posted by peterb View Post
    Lloyds are still allowing debit card purchases for crypto currencies. Personally I think the volatility of Crypto Currencies (and in particularly Bitcoin) makes it significantly riskier than many other forms of investment (or gambling) and I can see why Lloyds might want to limit their exposure to the risk.
    Yes this exactly, they won't stop debit card purchases, they are protecting themselves from bad debt. Debit cards use your own money, credit cards its the banks.
    Jon

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