Big banks crack down on bitcoin *NEW Disaster* - GoFuckYourself.com

elliso · 02-05-2018, 05:02 AM

Transactions with bitcoin and other cryptocurrencies are no longer available for 8 million credit card users of Lloyds Banking Group, which unites Lloyds Bank, Bank of Scotland, Halifax and MBNA.
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© Dado RuvicBitcoin takes a beating with entire cryptocurrency market in decline
The ban will not apply to debit cards, only to credit cards issued by the group.

?Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,? said a company spokeswoman. The decision was made to "protect customers," Lloyds said.

Lloyds? move follows bans at the weekend from American banks JP Morgan Chase, Bank of America and Citigroup.

The ban comes as holders of bitcoin and other cryptocurrencies continue to suffer a steep plunge in the value of their holdings. Lloyds said it fears that credit card owners will buy cryptocurrencies in the hopes of making a profit, but will have to repay the debt when the price falls.

British Prime Minister Theresa May has said the UK should look ?very seriously? at digital currencies as they can be used by criminals.

Bitcoin has again fallen below $8,000, trading 12.5 percent lower on Monday. It is now 60 percent below its record high of $20,000 reached in December. All but two of the top 100 cryptocurrencies on Coinmarketcap?s list were down at 10:30 GMT, with some losing as much as 24 percent of their value. The exceptions are #64 bitcore (4 percent growth) and #83 xplay (43 percent growth).

elliso · 02-05-2018, 05:09 AM

Just cancelled my account with Lloyds.
I believe others will follow.

nico-t · 02-05-2018, 05:30 AM

Quote:

Originally Posted by elliso

The decision was made to "protect customers," Lloyds said.

Klen · 02-05-2018, 05:40 AM

What a bullshit excuse, since when bank can decide on what you can waste your money ? They should be sued.

NewNick · 02-05-2018, 05:42 AM

Quote:

Originally Posted by elliso

Just cancelled my account with Lloyds.
I believe others will follow.

Cause you did dear. That'll teach em !

You are correct though, more will definitely follow.

More banks closing off their credit cards to crypto that is.

They dont need the credit risk. They dont need customers screaming that they were misled and that they want to chargeback.

BigFurry · 02-05-2018, 05:52 AM

Quote:

The ban will not apply to debit cards, only to credit cards issued by the group.

Not a huge issue. They're just saying they won't loan you the bank's money to buy crypto.

You're still free to get a debit card and spend your own money on it, or use Wire/ACH/SEPA to send money to exchanges.

CaptainHowdy · 02-05-2018, 06:28 AM

Resistance is utile ...

OldJeff · 02-05-2018, 06:39 AM

Quote:

Originally Posted by KlenTelaris

What a bullshit excuse, since when bank can decide on what you can waste your money ? They should be sued.

hmmmmmmmmmmmm

They can't, but they can control what is purchased with their credit cards, you know like American Express did with porn 20 years ago

DesignerMissy · 02-05-2018, 06:54 AM

Sure, digital currencies can be used by criminals, but I don't think that's a reason for everyone to just give up on them. We can probably look for banks that still accept that, and if it's just that they won't loan the money, well, you can use your own money.

Mickey_ · 02-05-2018, 07:26 AM

For the bank it's a double win
1) Reduce CC default risk of laymen buying crypto at the top than losing most of it when panic selling on the dips or significant corrections
2) Slow down mass adoption of crypto, a long-term direct competitor of their core business

pimpmaster9000 · 02-05-2018, 07:29 AM

7300 region breached...probably going sub 7K today...

_Richard_ · 02-05-2018, 07:33 AM

Quote:

Originally Posted by OldJeff

hmmmmmmmmmmmm

They can't, but they can control what is purchased with their credit cards, you know like American Express did with porn 20 years ago

i remember as a teen they banned purchases of lotto and cigarettes with credit cards.. not sure if it was a local thing tho

Grisey · 02-05-2018, 07:37 AM

One my friends is high up in MBNA in accounting, alot of people are spending CC money on crypto and not paying there card off and falling behind.

Lloyds Banking Group has completed a £1.9billion acquisition of consumer credit card business MBNA after regulators gave it the green light.

The British bank bought the business from Bank of America in a deal which sees it add £7billion in outstanding credit card debts to its books

I guess they don't want to keep taking on crypto debt.

I would say its a good business move from lloyds they had to be bailed out once, they don't want it to happen again.

rogueteens · 02-05-2018, 08:30 AM

they are only stopping you buying coins with a credit card, but you still can with debit cards. no biggie.

CurrentlySober · 02-05-2018, 08:39 AM

i cunt a4d a credit card...

elliso · 02-09-2018, 05:29 AM

that is not Good. banks are hung fuckers

k0nr4d · 02-09-2018, 07:58 AM

About half of PL banks no longer accept BTC transactions with the latest being ING I believe.

JuicyBunny · 02-09-2018, 08:00 AM

remain calm

+

hodl !!

CaptainHowdy · 02-09-2018, 09:03 AM

Does this mean no dip??

ry0t · 02-09-2018, 09:05 AM

buying crypto on a credit card is financing and this is why its not allowed. debit cards are not effected. this is blown out of proportion creating fud.

beerptrol · 02-09-2018, 09:23 AM

No biggie, as stated above, use a debit card or wire transfer

crockett · 02-09-2018, 09:43 AM

Quote:

Originally Posted by KlenTelaris

What a bullshit excuse, since when bank can decide on what you can waste your money ? They should be sued.

To be fair, if it's just credit cards, it's their money not yours.

The Porn Nerd · 02-09-2018, 11:58 AM

I don't trust anyone named 'Lloyd" to begin with. :D

JFK · 02-09-2018, 12:06 PM

Quote:

Originally Posted by JuicyBunny

remain calm

+

hodl !!

Jman · 02-09-2018, 12:06 PM

Quote:

Originally Posted by BigFurry

Not a huge issue. They're just saying they won't loan you the bank's money to buy crypto.

You're still free to get a debit card and spend your own money on it, or use Wire/ACH/SEPA to send money to exchanges.

You know making sense on GFY is a bannable offence

Paul Markham · 02-10-2018, 02:58 AM

Quote:

Originally Posted by KlenTelaris

What a bullshit excuse, since when bank can decide on what you can waste your money ? They should be sued.

Since they are taking on the debt, they decide what you buy with their money.

emmasexytime · 02-10-2018, 04:25 AM

Quote:

Originally Posted by Paul Markham

Since they are taking on the debt, they decide what you buy with their money.

Pretty simple really.

I don't know why people think mass adoption is even possible. It will not happen.

My friend is better bitcoin will be at zero or close to that before the end of this year.

He is a lot smarter than anyone in here I would say

HODL is stupid and those will be crying when it all is over.

02-05-2018, 05:02 AM	#1
elliso Its All About Girls &SEX Industry Role: Join Date: Dec 2011 Location: Philipinne Posts: 1,046	Big banks crack down on bitcoin NEW Disaster Transactions with bitcoin and other cryptocurrencies are no longer available for 8 million credit card users of Lloyds Banking Group, which unites Lloyds Bank, Bank of Scotland, Halifax and MBNA. Read more © Dado RuvicBitcoin takes a beating with entire cryptocurrency market in decline The ban will not apply to debit cards, only to credit cards issued by the group. ?Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,? said a company spokeswoman. The decision was made to "protect customers," Lloyds said. Lloyds? move follows bans at the weekend from American banks JP Morgan Chase, Bank of America and Citigroup. The ban comes as holders of bitcoin and other cryptocurrencies continue to suffer a steep plunge in the value of their holdings. Lloyds said it fears that credit card owners will buy cryptocurrencies in the hopes of making a profit, but will have to repay the debt when the price falls. British Prime Minister Theresa May has said the UK should look ?very seriously? at digital currencies as they can be used by criminals. Bitcoin has again fallen below $8,000, trading 12.5 percent lower on Monday. It is now 60 percent below its record high of $20,000 reached in December. All but two of the top 100 cryptocurrencies on Coinmarketcap?s list were down at 10:30 GMT, with some losing as much as 24 percent of their value. The exceptions are #64 bitcore (4 percent growth) and #83 xplay (43 percent growth). __________________ ICQ : Number 690911541

02-05-2018, 05:09 AM	#2
elliso Its All About Girls &SEX Industry Role: Join Date: Dec 2011 Location: Philipinne Posts: 1,046	Just cancelled my account with Lloyds. I believe others will follow. __________________ ICQ : Number 690911541

02-05-2018, 06:28 AM	#7
CaptainHowdy Too lazy to set a custom title Industry Role: Join Date: Dec 2004 Location: Happy in the dark. Posts: 93,200	Resistance is utile ... __________________ FLASH SALE INSANITY! deal with a 100% Trusted Seller Buy Traffic Spots on a High-Quality Network 1 Year or Lifetime — That’s Right, Until the Internet Explodes!

02-05-2018, 06:54 AM	#9
DesignerMissy Registered User Industry Role: Join Date: Nov 2017 Posts: 43	Sure, digital currencies can be used by criminals, but I don't think that's a reason for everyone to just give up on them. We can probably look for banks that still accept that, and if it's just that they won't loan the money, well, you can use your own money. __________________ http://www.bitcoingirls.live

02-05-2018, 07:26 AM	#10
Mickey_ Industry Role: Join Date: Nov 2005 Location: Worldwide Posts: 4,238	For the bank it's a double win 1) Reduce CC default risk of laymen buying crypto at the top than losing most of it when panic selling on the dips or significant corrections 2) Slow down mass adoption of crypto, a long-term direct competitor of their core business __________________ LifeSelector Affiliates - Make money today promoting the online porn of tomorrow. mb [at] lifeselector.com

02-05-2018, 05:40 AM	#4
Klen Industry Role: Join Date: Aug 2006 Location: Little Vienna Posts: 32,235	What a bullshit excuse, since when bank can decide on what you can waste your money ? They should be sued.

02-05-2018, 07:29 AM	#11
pimpmaster9000 Too lazy to set a custom title Industry Role: Join Date: Dec 2011 Posts: 26,732	7300 region breached...probably going sub 7K today... __________________ Report a suspicious cracker: Click Here

02-05-2018, 07:37 AM	#13
Grisey Confirmed User Join Date: Jan 2004 Location: Uk Posts: 1,805	One my friends is high up in MBNA in accounting, alot of people are spending CC money on crypto and not paying there card off and falling behind. Lloyds Banking Group has completed a £1.9billion acquisition of consumer credit card business MBNA after regulators gave it the green light. The British bank bought the business from Bank of America in a deal which sees it add £7billion in outstanding credit card debts to its books I guess they don't want to keep taking on crypto debt. I would say its a good business move from lloyds they had to be bailed out once, they don't want it to happen again. __________________ Segpay Suck Ass Worse Billing Company Allurecash Scammers and don't pay

02-05-2018, 08:30 AM	#14
rogueteens So fucking bland Industry Role: Join Date: Jul 2006 Location: England Posts: 8,005	they are only stopping you buying coins with a credit card, but you still can with debit cards. no biggie. __________________ Free traffic and backlinks from one of the fastest growing adult pinsites on the net - SAUCY PICTURES! Easily my best performing webcam sponsor - CLICK HERE!!

02-05-2018, 08:39 AM	#15
CurrentlySober Too lazy to wipe my ass Industry Role: Join Date: Aug 2002 Location: A Public Bathroom Posts: 38,556	i cunt a4d a credit card... __________________ My AI Handywork... My Dream Gal... XXX 👁️ 👍️ 💩

02-09-2018, 05:29 AM	#16
elliso Its All About Girls &SEX Industry Role: Join Date: Dec 2011 Location: Philipinne Posts: 1,046	that is not Good. banks are hung fuckers __________________ ICQ : Number 690911541

02-09-2018, 07:58 AM	#17
k0nr4d Confirmed User Industry Role: Join Date: Aug 2006 Location: Poland Posts: 9,228	About half of PL banks no longer accept BTC transactions with the latest being ING I believe. __________________ Mechanical Bunny Media Mechbunny Tube Script \| Mechbunny Webcam Aggregator Script \| Custom Web Development

02-09-2018, 08:00 AM	#18
JuicyBunny So Fucking Banned Industry Role: Join Date: Jun 2010 Location: Tokyo Red Light District Posts: 2,145	remain calm + hodl !!

02-09-2018, 09:03 AM	#19
CaptainHowdy Too lazy to set a custom title Industry Role: Join Date: Dec 2004 Location: Happy in the dark. Posts: 93,200	Does this mean no dip?? __________________ FLASH SALE INSANITY! deal with a 100% Trusted Seller Buy Traffic Spots on a High-Quality Network 1 Year or Lifetime — That’s Right, Until the Internet Explodes!

02-09-2018, 09:05 AM	#20
ry0t So Fucking Banned Industry Role: Join Date: Feb 2003 Location: Boston Posts: 4,160	buying crypto on a credit card is financing and this is why its not allowed. debit cards are not effected. this is blown out of proportion creating fud.

02-09-2018, 09:23 AM	#21
beerptrol Confirmed Asshole Industry Role: Join Date: Feb 2003 Location: Half way between sobriety and fubar. Posts: 12,722	No biggie, as stated above, use a debit card or wire transfer __________________ “If we are to have another contest in the near future of our national existence, I predict that the dividing line will not be Mason and Dixon's but between patriotism and intelligence on the one side, and superstition, ambition and ignorance on the other.” -- Ulysses S. Grant

02-09-2018, 11:58 AM	#23
The Porn Nerd Living The Dream Industry Role: Join Date: Jun 2009 Location: Inside a Monitor Posts: 19,541	I don't trust anyone named 'Lloyd" to begin with. :D __________________ My Affiliate Programs: Porn Nerd Cash \| Porn Showcase \| Aggressive Gold Over 90 paysites to promote! Now on Teams: peabodymedia