Bitcoins and Other Crypto-currencies

I've been loading up on car vertical CV tokens on KUcoin. Managed to get 22k so far for £130

Folk getting spooked yet?

Grumpy David wrote:Wait, people were taking out personal loans to "gear" their purchases of something as extremely volatile as crypto currency?!

It's like investing 101 to only invest what you can afford to lose.

I heard Barclays had to ban people from buying bitcoins on their credit card to try and stop them bankrupting themselves.

Karl wrote:The FT ran with this yesterday:

Can we get an update on this?

Moggy wrote:
Karl wrote:The FT ran with this yesterday:

Can we get an update on this?

Karl wrote:
Moggy wrote:
Karl wrote:The FT ran with this yesterday:

Can we get an update on this?

lex-man wrote:
Grumpy David wrote:Wait, people were taking out personal loans to "gear" their purchases of something as extremely volatile as crypto currency?!

It's like investing 101 to only invest what you can afford to lose.

I heard Barclays had to ban people from buying bitcoins on their credit card to try and stop them bankrupting themselves.

Barclays stopped people buying on credit so Barclays wouldn't go bankrupt, they're more than happy for people to spend their own money on it!

Glad the bubble is finally bursting on this delusion.

Rightey wrote:This crash just keeps going and going, we're getting some golden memes though...

Really just wish there was a way to embed this rather than link to reddit...

https://www.reddit.com/r/Bitcoin/commen ... ource=link

Brilliant

lex-man wrote:
Grumpy David wrote:Wait, people were taking out personal loans to "gear" their purchases of something as extremely volatile as crypto currency?!

It's like investing 101 to only invest what you can afford to lose.

I heard Barclays had to ban people from buying bitcoins on their credit card to try and stop them bankrupting themselves.

That kinda makes no sense. The CC company sets a credit limit and a person can reach that limit any way they want. They could buy a lifetime supply of cigarette papers, or a first class flight to Barbados and book into the Sandals resort, or buy a new car or anything. So why would a CC company stop someone spending their credit limit on whatever they want? Obviously they're scared that too much FIAT is leaving their control.

pjbetman wrote:
lex-man wrote:
Grumpy David wrote:Wait, people were taking out personal loans to "gear" their purchases of something as extremely volatile as crypto currency?!

It's like investing 101 to only invest what you can afford to lose.

I heard Barclays had to ban people from buying bitcoins on their credit card to try and stop them bankrupting themselves.

That kinda makes no sense. The CC company sets a credit limit and a person can reach that limit any way they want. They could buy a lifetime supply of cigarette papers, or a first class flight to Barbados and book into the Sandals resort, or buy a new car or anything. So why would a CC company stop someone spending their credit limit on whatever they want? Obviously they're scared that too much FIAT is leaving their control.

Try and use a credit card to make an overpayment on your mortgage. Or buy shares in a specific company or stock market index tracker.

Lloyds has decided that Bitcoin and other crypto-currencies represent a far bigger risk than gambling. If you use a credit card to gamble it counts as a cash machine withdrawal so interest accrues from day 1 rather than by the next statement date.

If you're buying on credit cards or loans, it's the bank that stands to lose if you can't repay the debt. You're free to use your debit card.

Barclays allow credit cards to purchase Bitcoin. Lloyds and Virgin Money have banned it.

Someone could squander their credit on holidays and nights out but this type of behaviour isn't "gearing".

BTL gearing has to have a customer providing a deposit. http://www.letpropertystrategies.co.uk/buytoletgearing.htm

Bitcoin gearing is no customer money whatsoever, 100% debt being used to speculate on a highly volatile currency.

What GD said.

I think people forget that credit cards are basically the same as a loan. If you go to the bank and ask for a loan, the bank will ask you what you want the money for. If you say "home improvements" you'll probably get your loan. If you say "I'm going to Vegas, this is my gambling money!" they will probably show you where the door is.

Moggy wrote:What GD said.

I think people forget that credit cards are basically the same as a loan. If you go to the bank and ask for a loan, the bank will ask you what you want the money for. If you say "home improvements" you'll probably get your loan. If you say "I'm going to Vegas, this is my gambling money!" they will probably show you where the door is.

They do allow gambling on credit cards, it's quite a big problem.

satriales wrote:
Moggy wrote:What GD said.

I think people forget that credit cards are basically the same as a loan. If you go to the bank and ask for a loan, the bank will ask you what you want the money for. If you say "home improvements" you'll probably get your loan. If you say "I'm going to Vegas, this is my gambling money!" they will probably show you where the door is.

They do allow gambling on credit cards, it's quite a big problem.

True, each credit card provider will decide for themselves what they will and will not allow though, just like with a bank loan. I think a lot of people think that it’s their money, it’s not and the credit card provider can decide what you can and can’t use the card for.

When does GRcoin (pronounced Ger-coin) launch?

Kezzer wrote:When does GRcoin (pronounced Ger-coin) launch?

Haha it is tempting to look into this funsies hahaha

We can totally fund the forum off a cyber ponzi scheme.

Until the cops shut us down

Karl wrote:We can totally fund the forum off a cyber ponzi scheme.

Until the cops shut us down

It's cool gecko will be in the source for GeckoCoin I'm cool with him being th fall guy.

Karl wrote:We can totally fund the forum off a cyber ponzi scheme.

Until the cops shut us down

I've seen another forum where they created a coin and it can only be mined by browsing the forum.
It was an interesting idea, but too niche for the coins to take off and be worth something.

No but they could be used in forum events or for 'liking' posts

Kezzer wrote:No but they could be used in forum events or for 'liking' posts

Yah this, it would be a fun thing, as was said it'll never be worth anything but so what it'll be fun.

Bitcoins and Other Crypto-currencies

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