[Update] Multiple Banks have barred credit card customers from buying cryptocurrencies amidst fears of a crash

[ESPImperium]

BitCoin was at $6,700 and 18.34% off its value today so far, and Etherium has had almost a fit taken off it at one point today. Its also affecting nvidia and their share price, as has been taken 6.51% off their stock price today.

 

Next 3 days will be interesting, as all other crypto-crashes have been on a Thursday/Friday and the weekend has seen them gain their losses over the weekend. However, this is a Monday, and it could see CryptoCurrencies slump this week. Losses of more than 3% for more than 3 days suggests volatility, and gains of more than 6% suggests volatility as well, to the textbooks i read in College many years ago.

 

Z Cash has seen 4.5% added to its value today. Investors are going into other Alt-Coins is my guess.

[suicidalfranco]

Old guards getting scared I see. Remember people:

Never sell at a loss

Buy the dip

Hold like your life depends on it

 

[TheSilverNiko]

10 hours ago, RorzNZ said:

When illegal criminal and terrorist groups use cryptocurrency then you can expect no future there.

illegal criminals use USD and every other currency in existence aswell

[suicidalfranco]

7 minutes ago, TheSilverNiko said:

illegal criminals use USD and every other currency in existence aswell

You heard here first: USD is officially dead because people use it to buy drugs, prostitution and even go as far as killing people for it. ABOUT TIME SOMEONE CRACK DOWN THAT EVIL CONTRACEPTION

[AlTech]

Just now, suicidalfranco said:

You heard here first: USD is officially dead because people use it to buy drugs, prostitution and even go as far as killing people for it. ABOUT TIME SOMEONE CRACK DOWN THAT EVIL CONTRACEPTION

Ayyyy lmao . Did somebody think that criminals using a currency was going to stop it being used legitimately? lol.

 

When I went to Vietnam and Cambodia on a school trip a few years back, the currency used to definitely not bribe give some money to some people was USD and not the local currency.

 

Also, the USD was accepted in many places that the local currency was accepted.

<joke> It's almost like it's United or something </joke> . (cos United States Dollars .... )

[Master Disaster]

Update

 

Virgin Money, Bank of America, Citigroup, JP Morgan, Capital One and Discover have all joined (some made the change over the weekend) Lloyd's in banning the purchase of Cryptocurrencies using credit cards

[Maticks]

Because the stock exchange is so much more stable.. lol

[PillowSmoke]

4 minutes ago, Maticks said:

Because the stock exchange is so much more stable.. lol

it is actually.

[cj09beira]

i think in general this is good, people shouldn't be investing money they dont have in something so volatile.

at the very least invest in a better currency 

[Monkey Dust]

11 minutes ago, cj09beira said:

i think in general this is good, people shouldn't be investing money they dont have in something so volatile.

at the very least invest in a better currency 

You have to speculate to accumulate. Most self-made millionaires and billionaires got there by taking huge risks with other peoples money. The safer the bet the lower the return. Flipside, I can see why banks would want to minimise their exposure to a bitcoin crash, and cynical hat on, nudge customers back towards their investment products.

[cj09beira]

1 hour ago, Monkey Dust said:

You have to speculate to accumulate. Most self-made millionaires and billionaires got there by taking huge risks with other peoples money. The safer the bet the lower the return. Flipside, I can see why banks would want to minimise their exposure to a bitcoin crash, and cynical hat on, nudge customers back towards their investment products.

how many more people were burned compared to the few that pulled it off, what i am saying is that in general its not a great idea.

[mr moose]

6 hours ago, Monkey Dust said:

You have to speculate to accumulate. Most self-made millionaires and billionaires got there by taking huge risks with other peoples money. The safer the bet the lower the return. Flipside, I can see why banks would want to minimise their exposure to a bitcoin crash, and cynical hat on, nudge customers back towards their investment products.

Most self made millionaires didn't becomes so investing in currencies let alone ones that tend more to be a proof of concept than a considered design.  Most self made millionaires became so by working 16+ hour days and 7 day weeks for half their life building up companies from the ground.  Yes they take a risk, but it's a calculated risk not a throw money at things that look good risk.

[Coaxialgamer]

20 hours ago, RorzNZ said:

When illegal criminal and terrorist groups use cryptocurrency then you can expect no future there.

You know cash is a thing that exists right? Something that you ACTUALLY can't track? 

[Coaxialgamer]

8 hours ago, Maticks said:

Because the stock exchange is so much more stable.. lol

Unless you're trading penny stocks, it is. 

[Guest]

2 hours ago, Coaxialgamer said:

You know cash is a thing that exists right? Something that you ACTUALLY can't track? 

You should tell the criminals that then.

[Master Disaster]

3 minutes ago, RorzNZ said:

You should tell the criminals that then.

Don't you think there is a reason why your friendly neighborhood crack dealer isn't carrying a card machine in his pocket?