/biz/ - Business & Finance

>>7323520
they don't want you buying into the dip with fiat. sit and wait a week for your ach to clear, goy.

>>7323520
they dont want the credit risk

they dont think you poorfags can cover the losses

Faggot if you would skip the headline and actually read the article you would not talk shit and know that they scared of poor fags like you that take a loan to buy crypto and then are unable to pay back their debts if it’s not going up.

It’s called retard protection. You can still wire your funds to any exchange

>>7323520
they know there's nothing more lucrative than crypto, they just don't want you to win

>>7323520
because bitcoin is NOTHING but just driven by hype

>Shut it down

>>7323738
>have 800 credit score
>more than 50k limit on cards
>not allowed to use cards at 20% interest to buy crypto instantly
>perfectly fine to take out a 100k personal loan and buy crypto with that, but can't lock in price instantly but only pay 6% interest

(((hmmmmmmm)))))

>>7323738
Lmao maybe if those credit card kikes weren't retarded, they would know that if they allowed people to take out loans on crypto, then share value of crypto would rise up from increased demand and cryptofags would be able to pay off credit card companies and have money for themselves.

because americans have always been the weak hands and the dumb money, and restricting those specific americans from buying crypto on money they dont and never will have makes the money going into crypto from this country less likely to dump at the slightest sight of turmoil

>>7323677
this
Incredible as it may seem, after blowing up the whole fucking world in 2008 they are trying to regulate credit risk.
But carry on muh jewing /biz/, great investment strategy.

Why use a credit card in the first place? You have good old debit cards

>>7323841
If the price on exchanges would not be manipulated and actual demand would drive the price then yes.

>>7323967
banks are charging extra fees even with debit cards FYI

>>7323520
simple.
Why use credit for something so volatile? What happened to dont invest what you can't afford to loose, that's exactly what you are doing with a credit card.

>>7323814
xDDDD ebin meme

>>7324010
The article doesn't say that

>>7323520
>Why are the bankers so scared of crypto?
They're not, they're conspiring together to create FUD so the prices crash while they gobble the cryptos up for themselves to sell at a higher price. Anyone who thinks the banks yelling about how cryptos are a scam aren't just hoarding them themselves every time the prices crash is an idiot.

>>7323520
Gee, why would (((they))) be afraid of an alternative to manipulated fiat?

>mfw i have wells fargo

>>7323520
It's not because their scared it's because of credit card fraud.

>>7323520
APOLOGIZE

That's what happens when a technology comes along that's threatening to make you obsolete.

>>7323520
Because it affects their ability to print money, they can't have any deflation, they can't let home prices drop because it doesn't benefit the .1% if houses become affordable.

>>7323841
they wouldnt cash out and pay off their balance.
if they are using a credit card to by a speculative asset they are fucking retarded in the first place.
they max out credit cards, dont sell when its high, panic sell when its low, and end up in debt.

if they thought they would get their money back, they would let people buy crypto on credit.

people who would use credit to purchase crypto are fucking retarded.

this board needs an overhaul. it used to be pretty good and now its just 50 shill threads of faggoty ass memes with 2 replies each.

>>7324039
Yeah, I know-- just from personal experience I had some extra fees I didn't have before

>>7323677
Yet you can buy the lottery or place bets using your credit card. Lmao they don't want the goys buying cheap crypto

CRYPTO DOES NOT THREATEN BANKS

BANKS USE BLOCKCHAIN TECH AND FUND BLOCKCHAIN COMPANIES

YOURE ALL JUST STUPID AND DANGEROUS WITH YOUR MONEY AND THEYRE TRYING TO GET AWAY FROM THE LIABILITY THAT IS YOU GETTING VAPORIZED BY BUBBLES ON WORTHLESS SHITCOINS CAUSING MASSIVE PERSONAL DEBT

>>7323520
>credit card is with Chase
SHIT. Where can I get buttcoins with AMEX?

YOU GUYS. WE'RE SAVED.
I JUST REALIZED THAT IF YOU GRAPH BTC IN LOG(1/X) WE'RE ACTUALLY IN A SHARP UP-TREND RIGHT NOW.

>>7324200
these banks do not print money, monetard

>>7324305
This isn't true at all. I stopped using USD wherever I can. I will stop using banks alltogether.

>>7323738
retard protection lmao. How do you think credit cards make money? By getting retards in debt ya brainlet.

>>7323520
Fiat is one of the greatest scams in the history of mankind, and crypto is a threat to the gravy train.

>>7324374
credit card debt is unsecured. It can be discharged in bankruptcy. They want you in debt, not bankrupt. If you go bankrupt they'll lose money.

>>7323520

>>7324374
they have done their homework and have decided that people who would use credit to buy cryptos are fucking retarded and would most likely default.

which makes perfect sense. if you try to get rich quick on a hail mary buying crypto with a credit card youre fucking retarded.

>>7324305
crypto does threaten banks you retarded brainlet redditor
the blockchain doesnt threaten banks, the blockchain is different from crypto
a blockchain is an unbreakable ledger, crypto is built ontop of the blockchain

>>7324381
>Fiat is a scam but crypto isn't.
Fiat
>backed by bond holders
Crypto
>backed by unregulated market speculation
>constant "hacks" and insider trading scandals

>>7324449
>crypto does threaten banks you retarded brainlet redditor
youre so fucking stupid holy shit lmao

>>7324200
the Federal Reserve prints money, the Federal Reserve is a privately help bank

>>7324449
You're under the age of 18

>>7323738

>please go buy things that immediately and permanently depreciate in value like that 8K ultra HD TV
>oh no, goy, buying something that may increase in value is too risky!

fucking kikes

>>7323520
''due to volatility and risk'' what a load of bollocks. That has nothing to do with the bank lol

>>7324502
The fed can also only print money that is backed by treasury bonds.

>>7323677
Question: isn’t credit for anything? How can they ban one type of purchase on credit? Couldn’t I just use my credit to buy prepaid debit card and buy crypto that way? Can’t I just spend all of my credit on food and alcohol and not be able to pay it back? This makes no sense.

>>7324519
>please go buy things that immediately and permanently depreciate in value like that 8K ultra HD TV
Are you talking about (((bitcoin)))?

>>7324381
this. the true threat is a handful of rootless cosmopolitan jews printing money

>>7324416
nice

>>7323919

>giving credit to jamal to buy a new pair of nikes is good for economy

>>7324519
buying a TV and buying an extremely risky volatile piece of shit for thousands of dollars thats inherently worthless on margin isnt the same

>>7324557
they can because they can. i dont understand your confusion.

>>7323967
Just added my debit card HHAHAHAHAHAHAHAHAHAHA YOU CAN’T STOP ME FROM THROWING MY MONEY AWAY, CUNTS

>>7323841
Anon...I
They literally don’t want you to pay off your credit card debt. Charging interest while you make the minimum payments month after month after month after month makes is extremely lucrative for (((them))) they know that there is a chance that you could buy 5k worth of crypto on a credit card and 2x(or more) before the next statement arrives and that’s just bad for business goy

>>7324465
>>backed by bond holders
>>with fiat currency
Oh I am laffin
>>>IT JUST WORKS GOY

>>7324557
same reason they can stop you from betting on sporting events with your credit card with offshore bookies, to protect you from yourself

>>7324707
>everybody who buys crypto is gonna win

>>7323520

This isn't really a huge hit to crypto, it's not like you can buy stocks or bonds with a credit card

>>7324724
>(((protect you from yourself)))

>why do banks want to stop losin mg cash reserves to a retarded speculative asset

Are you fucking retarded

>>7324719

>>7323520

Here we go

Credit card companies are banning it because people are losing their shirts on this betting. It’s the same reason you can’t use credit to buy lottery tickets.

>>7323520
Because with crypto you are your own bank. They are being abolished and they are scared.

>>7324886
wrong

>>7324362
what is fractional reserve banking?

Well basically if you deposit $1,000 then the bank can lend out $10,000. How is that not printing money?

>>7324292
a bank will not lend you money to gamble

>>7324899
(((wrong)))

>>7324886
Cope

Try to pay rent with btc lmfao

Can you use your credit card to buy in at a casino?

>>7324902
>How is that not printing money?
because it creates debt goy! printing money is for paying your debts.

>>7323520
It's the one thing that can destroy their fiat system. The same system that has us enslaved and we're too blind to snap out of the "dream"

>>7324465
Fiat
>backed by bond holders
Crypto
>backed by bag holders

Same exact shit.

>>7324292
Not here. You have to pay with cash for the lottery here.

ask (((them)))

>>7324862
Pretty much this, only they're not doing it to help you. Either way you'd probably be able to buy with a debit card so what's the problem?

>>7324950
I already bought a house with BTC. Only fiat retards pay rent. Because they are poor.

>>7324862
Turns out you can use credit to buy lottery tickets in some states.

>>7325004
your property taxes are probably higher than most peoples yearly rent

The sheer level of stupidity on this board is astounding

Delusional coping retards who have no idea how floating currencies or banking works, and their overinflated sense of worth on their currently useless monopoly money

>>7324025

Instant-payment on credit card vs days processing a wire transfer if you want to buy a dip right then and there.

>>7324970
Nope. For every 1 US dollar printed 1 US dollar is held in bond. Inflation is caused by the interest that is paid to bondholders. It's not an ideal system because it relies on constant economic growth. But if you actually look up how it works it's not as insidious as people suggest. The entire purpose of the system was to ensure bank runs like the ones in the great depression can't happen anymore. The problem is leftist morons who saw the new system as a carte blanche for creating a bloated welfare state.

>>7323813
Literally every singe currency ever in the history of the world.

>>7325027

>>7324997
> Either way you'd probably be able to buy with a debit card so what's the problem?

Is this a fucking joke? Would you rather have $0 or -$1000? What the banks are doing is perfectly fine, people shouldnt be taking out loans to invest in a speculative market like crypto

you guys are so fucking stupid some times

>>7325040
>system was to ensure bank runs like the ones in the great depression can't happen anymore.
yes, but without fractional lending, bank runs are literally impossible.

>>7325045
-t. Retard

>I swr a “currency” you can buy nothing with is the same as a floating currency

>>7324737
You missing a chromosome or something? Where did I say that everyone who invests in crypto is going to win? The point I was making, is that I find it more likely that banks don’t want you buying crypto with their money, because there is a possibility you could profit enough to pay off your debt to them more quickly than they would like. People paying off their credit card debt quickly is bad for business

>>7325024
I don't pay taxes, because my house is registered as a religious temple.
Do you even read the tax code or are you paying everything the government tells you to?

>>7325095
If you think fractional reserve banking is a bad thing you should probably invest in some rope to hang yourself

So these fucking kikes have been doing everything to put america on debt and now that crypto is at their door step, they want to protect people from going in debt?

LMFAO if you faggots believe this shit.

>USD is fiat currency because its not backed by anything

>Bitcoin isnt fiat currency because its backed by...
oh

>>7325095
so is economic growth.

>>7325145
Who could have guessed a larping delusional coinfag

>>7325162
>oy vey goyim you're stupid money has no value anyway

>>7325201
>it's literally impossible to improve technology if you're not in debt!!!!!

>>7325128
>banks don’t want you buying crypto with their money, because there is a possibility you could profit enough to pay off your debt to them more quickly than they would like
And why not vice versa? Did you literally leave your brain home before going to school today?

This honestly might be the worst board on 4chan

Nice coping everyone

>>7325203
You do realize that you can buy priesthood for $200 and it's fully acknowledged by the state? Holy fuck, no wonder you retards are poor.

>>7323919
>bankers can blow up the world in 2008 with risky speculation and it's ok because taxpayers (i.e. you) will just have to bail them out the tune of 700 billlion
>but if you try to speculate with THEIR money that's a big no-no, bad goy
If you defend banks for banning crypto purchases with credit you are an unironic literal cuckold defending your fiat masters.

>>7325254
because they know the trend is upwards
crypto challenges the hold they have over humanity thru banking

>>7323520
Wish you dumb cunts would stop posting about credit cards, nobody cares, this is barely news, Credit cards are for welfare mongoloids with no perception of money's worth.

>>7324292
nobrainer please go

>>7325293
>because they know the trend is upwards
Because it literally isn't. Crypto received way too many normies over the past few months.

>>7325293
>because they know the trend is upwards
-60%

>>7325291
Not even their money. It is money that doesn't exist in any form but digital and which they are allowed to charge you interest for

>>7325251
The purpose of the economy isn't to improve technology.

>Can't buy stocks with credit cards
>Can't buy casino chips with credit cards

Oh but no our precious crypto is being singled out, FUCKING Kikes!

>>7325318
>>7325330
so what? i didnt sell when it crashed from 34 to 2.
>muh too many normies meme

It is impossible to know what percentage of people knew how to invest on crypto let alone how many actually went in

>>7325370
either your saying
>economic growth isn't tied to improvements in technology
or
>the economy isn't even supposed to grow
fuck off.

>>7325410
the point is that you retards are all fucking delusional and dangerous to the overall economy if you buy a rapidly depreciating speculative bubble on fucking margin or credit

stopping you morons from buying bitcoin on credit is just retard insurance for the entire global economy

>>7325410
>It is impossible to know what percentage of people knew how to invest on crypto let alone how many actually went in
It was plainly obvious. Exchanges received more new users than ever before (most had to close new registrations). If you took a look at deposits and withdrawal ID's and compared them with the summer ones, you could see that the growth was exponential. Literally.

>>7324025
>what happened to not investing what you can afford to lose?
Why don't you tell that to the banks?

>>7323841
THIS. If everyone in the world just invested in cryptocoin we would all be billionaires and all the problems in the world would be solved. Why are dumb banker kikes too retarded to realize this???

>>7325087
You must be a bit dense, I'll do it in redditpoints so you can understand:

- Debit card = you ALREADY have the money

- Credit card = taking a short term loan from the bank with a ridiculous interest

Come to think of it, |people shouldn't be allowed to be making any kinds of purchases with a credit card in the first place" should have been my whole point.

>>7325087
>people shouldn't be taking out loans on risky speculative assets
Why don't you tell that to the Banks you fucking sheep?

People defending banks don't even understand how owned they are.

>>7325308
Thanks for making my point so much better than I did

>>7325541
it doesnt mean shit so long as we dont know numbers

if the number of people buying cryptos rose from 0.001% of the population to 0.009%, that still leaves A TON of room to grow.

>>7325331
The ultimate jewery

We're not scared. In fact, if you're currently looking at the charts on GDAX and BFX, you're witnessing one of the greatest robberies of all time.

Who do you think are buying up all the BTC in bulk?

t. WS guy. Claim larp all you want, but the negative media attention will die down soon enough.

>>7325486
>rapidly depreciating
lol you fucking newfags

last year btc was 1k. today it is still up 700%. The year before that it was 200. You guys are talking as if BTC price was frozen forever as it is today

Wagner’s unfiled brief catalogs behavior rather at odds with the public narrative about the bank in the years preceding the crisis. It further asserts that JPMorgan Chase knew that “many of these loans were tainted with fraud” and “knowingly misrepresented” that the loans met its underwriting guidelines, even though they clearly did not, and that the loans had sufficient equity value to collateralize the mortgages even though they did not. Notably, Wagner’s complaint argues that “these fraudulent misrepresentations” cost investors “to suffer billions of dollars in losses.”

>>7325784
The main idea of crypto as it stands now is "invest and get rich". A gamble. That idea pretty much exhausted its potential because even the normiest of normies decided to try their luck, let alone seasoned gamblers. Real adoption of crypto has nothing to do with its USD value and we shouldn't be bothered about the price at all.

They just don't want idiots maxing out credit card with the pie-in-the-sky dream that they'll make it big with such high volatility in the market. It's reasonable, you can only buy with what money you have on hand to lose.

Overall this is a good move.

>>7325949
Wagner wrote in the unfiled complaint that, according to his investigation, Christine Cole and Bill King, managing directors at JPMorgan Securities, ran the Securitized Products Group inside the investment bank that manufactured and sold the tainted mortgaged-backed securities in hopes of generating fees that would lead to large end-of-year bonuses for them and other members of the group. The bonuses ranged into the millions of dollars, and could be many times the size of the bankers’ and traders’ salaries. Between 2005 and 2007, Wagner wrote, “the year-end bonuses of the traders and salespeople rose significantly, in correlation with the spike in volume of [residential mortgage-backed securities] issuances at JPMorgan.”

Banks are buying
Funds are flat and ready to buy Tuesday

You are all fucking demented for thinking banks are out of crypto

You have no idea

I will show you

Go long tomorrow late

I keep telling you and giving great advice

Listen to me

>>7326003
banks and financial institutions do not buy crypto currency

>>7325983
The unfiled complaint also alleges that the JPMorgan Chase bankers and traders acquired mortgages from third-party originators with the sole intention of packaging up the mortgages into securities and selling them off quickly to investors in exchange for large fees. Wagner wrote that the bankers, traders, and employees responsible for carefully scrutinizing the mortgages being packaged up and sold knew they were acquiring loans with material defects that would be securitized and sold to investors. The bank, the unfiled brief continues, “ignored its due diligence findings and securitized materially defective loans” and “knowingly purchased and securitized loans with material credit and compliance defects.” The document further alleges that the bank, and its employees, knowingly sold mortgage-related securities with “inflated appraisals” and that “ignored internal controls” and that it “intentionally misrepresented” to investors “the quality of the loans” in offering documents, filed with the Securities and Exchange Commission, for the securities.

>>7325866
Same story here with Deutsche, EU branch outside of DE.

>>7326031
Worse, the unfiled brief notes, the bank continued to sell mortgage-backed securities even though Dimon himself was worried that the residential mortgage-backed securities market was about to crash. According to Wagner, during the second week of October 2006, Dimon allegedly told King, the co-head of the Securitized Products Group, that he needed to “watch out for subprime”—a reference to low-quality mortgage-backed securities—because he feared that the market “could go up in smoke.” The document also notes that Dimon wanted King to reduce the bank’s exposure to that market. The “impetus” for Dimon’s concern, Wagner continues, was his review of reports from the mortgage-servicing arm of the bank that showed that delinquencies on such mortgages “were rising at an alarming rate.” At Dimon’s “insistence,” the unfiled complaint asserts, “JPMorgan formulated an exit strategy to divest itself” of the riskiest pieces of mortgage-backed securities that had been accumulating on its balance sheet. But, Wagner writes in the draft complaint, “despite knowledge at the highest levels that underwriting had deteriorated across the industry and early payment defaults were spiking, JPMorgan continued to purchase and securitize subprime loans without addressing the known breakdown of its due diligence practices and without disclosing its knowledge to investors.” This is pretty much the exact same thing that Goldman Sachs did leading up to the financial crisis, a practice for which the bank was roundly criticized.

>>7326026
Oh but they do buy plenty of other insanely risky speculative shit. They will take your money just fine when it goes wrong. But if you try to use their money to invest in crypto? Bad bad goy, don't you know that's gambling?

>>7323520
yes goyim we want you to be fiscally responsible (for the first time ever)
((((we)))) are only looking out for you and your best interests
((((we)))) dont waste your precious shekels on internet magic money
trust ((((us)))) and our pedopapers instead

>>7326026
you have no idea
i'm talking investment banks and hedge funds
normies are getting their faces and potential gains ripped
it's funny to watch
you should listen to me
crypto will be $50K EOY
it's too easy to predict given the news cycle you are being given you should see this

>>7325963
so much exaggeration and anecdotal experience. nobody knows how many people are in crypto or how many were there at the peak
you are acting as if 90% of people bought in which is simply not true but do what you want man. I will be here during next year's crash just as i was here last year and the year before.

>>7323677
SO THE BANKERS ARE AFRAID OF ME LOSING ALL MY MONEY? I’LL SHOW (((THEM)))!!!

I’M TAKING OUT A LOAN AND BUYING 200000 LOTTERY TICKETS! SUCK ON THAT, GOLDMAN-SACHS!

>>7326110
they dont buy bitcoin you idiot

>>7326167
yes we buy more now
we will show them how to make money

>>7326190
I never said they did. Only that they buy plenty of other risky speculative assets. Can you read you fucking drooling moron bootlicking cuck? You should have been aborted.

>>7326026
Not with client funds. Our investors, as well as investors of nearly every competitor has demanded that their money not be invested in cryptocurrencies due to its extreme volatility.

I don't know why, if it's for short-term or long-term, but my IB began buying today. Again, not with client funds.

>>7326110

No one ever said they aren't hypocrites, but seriously don't make the same mistake I did. I took out a $10k loan back in 2014 to buy shitcoins and absolutely lost my shirt. Don't fucking do it.

>>7326183
Yet when a bank gambles on a speculative asset and loses, you have to pay them to cover their losses.

You must feel pretty smart defending people who own you and use you as a debt slave.

>>7326091
Wagner’s unfiled complaint provided details on 10 allegedly fraudulent mortgage-backed securities that JPMorgan Chase underwrote and sold to investors. (Four of the 10 examples were redacted in the copy the D.O.J. provided to Novack and that Novack provided to me, because “the D.O.J. contends that these paragraphs contain information pertaining to an ongoing investigation,” according to a recent ruling in Novack’s case.)

>>7326167
>you are acting as if 90% of people bought in which is simply not true but do what you want man.
I am not saying that. I am saying that most people predisposed to invest in a get-rich-quick scheme and trusty enough to fall for a new fad did already invest in crypto, and this idea that you can invest and multiply your money after a while, once novel, is getting old, which means that the masses are unlikely to fall for it again, at least in the same large numbers

>I will be here during next year's crash just as i was here last year and the year before.
You were obviously a fool if you didn't sell on top of this absolute normie craze.

>>7326368
The draft complaint further stated that the 10 examples “do not encompass the full extent of JPMorgan’s fraudulent scheme.” In one un-redacted example, the U.S. attorney’s office in the Eastern District of California described what happened to a $1 billion security that JPMorgan underwrote in August 2006 that contained more than 5,500 mortgages issued by Countrywide Financial, then an independent public company (and now part of Bank of America). Prior to purchasing the Countrywide pool, one-quarter of the loans were tested by an independent third-party consultant hired by JPMorgan. The third-party evaluator’s report, received by JPMorgan in May 2006, showed that up to 17 percent of the mortgages contained “material” defects, including “excessive” loan-to-value ratios, “incomplete or defective” appraisals, and missing verifications of income, employment, or assets at closing, among other problems.

>>7326368
Doing the Lord's work. Post more. I can't believe people are actually defending the banks here. The absolute state of /biz/

>>7326255
Might as well add that upper management also recently went out and warned our clients against cryptocurrencies; although after we received demands from large investors. You might also have seen the infamous list released by Deutsche which lists BTC as being one of the biggest threat to the world economy in 2018.

It might seem hypocritical, and again, I don't know why we are suddenly buying or how long we intend to hold. All I know is that Bitcoin is currently on our books.

>>7326417
According to Wagner’s draft complaint, after JPMorgan received the third-party report showing the defects in the mortgages, the company’s bankers “manipulated” the results by re-categorizing the defective mortgages because of “missing documents,” which lowered their risk assessment and made them appear to comply with the bank’s underwriting standards. But, according to Wagner’s unfiled complaint, “these missing documents were not delivered” and despite “knowledge of the material defects in the Countrywide pool,” JPMorgan Chase nevertheless bought 99 percent of the mortgages, and securitized all but seven of them into what became known as JPMAC 2006-CW2. Furthermore, the bank “did not inform investors of material amount of materially defective loans” that created the security. Wagner’s complaint, drafted seven years after the security was issued, noted that JPMAC 2006-CW2 “has suffered hundreds of millions of dollars in cumulative lost principal balance, and more losses are projected.” The complaint noted that although the top tranches of the security were once rated AAA, they had since been downgraded to “junk bond” status or below. And some had defaulted.

>>7326265
>absolutely lost my shirt.
That doesn't sound too bad but I've lost some pretty good shirts, so I know how you feel.

>>7324542
they can also add a few zeroes to the end of the balance and it doesn't make a f00kin difference, still nobody will punish them

>>7326488
>the reason banks don't want you buying crypto is because of the risk!
I like how this completely BTFOs that premise.

you can't buy stawks or bonds with cc either

>>7325045
every fiat currency system has failed, most doing so catastrophically.
USD is the global reserve currency and the fed can make as much of it as they want and give it to whoever they want.
You better be prepping and hedging your risks pertaining to when they press the button.

>>7323677
Bingo.

>>7324292
There are virtually no states in the US that will let you play the lottery on credit, if any. #1 they don't want the fees for accepting credit, #2 they don't want to encourage problem gamblers, #3 the risk of a dispute by the cardholder + cost is not worth it.

>>7324557
The issuer is lending to you under terms, they are allowed to alter these terms and limit where you can buy things as permitted under the law.

>>7324557
If you use debit and the transaction is disputed, the burden of proof is on the cardholder and the bank already has your money. Credit, burden of proof is on the bank and the bank has to fight you to get the money back.

>>7324374
Credit card debt is unsecured. If the person goes bankrupt, the bank takes a gigantic wash. It's one thing when people ratchet up slowly with expenses, it's another when people buy cryptocurrency speculatively and have no means to pay it back.

>>7323830
People who get personal loans (and qualify for them) generally are less risky than direct credit spending. Also, secured personal loans often require security like a deposit or property (car, house, etc.) as collateral.

>>7325028
What about debit cards, I am pretty sure banks don't stop people from buying with their debit cards as it is actually their own money.

>>7325436
The Fed generates USD out of thin air and loans it to the government at interest.
You do realize it's literally impossible for the loan to be paid back in full when there literally is not enough USD generated to pay it back in the first place?
Our economic system is meant to financially enslave the population by keeping it in perpetual debt to the kikes.

>>7326940
Read the thread, retard.

>>7326993
good catch

Need help because you are the only guys who are my friends.

Last week friend gave me 100k in Ethereum to invest for him because I have made really great gains, didn't go into tether before the crash, now I've lost him about 50k . I don't know what to do. Please give me some advice I don't know how I can get back in the positive. I'm torturing myself so bad for not going into tether , only reason I did not is because I thought it was going to implode.


So now I've made bad emotional trades during this crash, and I juts want some advice , please, I'm hurting guys, no insults or jokes , just want some help, you're the only people I can talk to .

Thanks anons

>>7327183
>Last week friend gave me 100k in Ethereum to invest for him
haa
don't do that.

>>7323520
no chance central bankers risk massive volatility from bitcoinm, therefore they wont ever make it an official currency.
while it was a fringe shit, but now that it actually came in
it was fine to mainstream they will choke it to death

>>7327183
If only there was a shitcoin that will take you to the moon and all of /biz/ knew about it... oh wait there is

>>7323520
Because It's Not Your Money....

>>7327243
I don't know what bitcoinm is, but BTC has been legal tender in Japan since early last year.

>>7326142
>crypto will be $50K EOY
u wot

>>7324950
>>>/fit/

>>7326929
Yeah you can use debit cards. The way I see it, Americans don't actually have money. They always live on credit.

>>7323520
they missed the boat on a trillion dollar market and now they quietly accumulate.