How is charging interest to customers not profit?
The point of a credit card, to the bank, is to extend credit to someone who has a fair/good reputation credit-wise, so that they will make purchases on said card, in hopes of the consumer NOT actually paying the entire balance of the card so that they can collect interest on the purchases. Nobody gives a shit about debit cards in this thread, so stop mentioning them. It's a crap argument.
That's great. I like that you pointed out the obvious. The thing you don't really understand is the bank decided to extend this spending power to us (so that they could make money off of us via interest charges), and then decided that because this movement might "hurt them", that they're going to try and choke us out in any way that they can. What they don't realize is that people don't always cash out on crypto right away, hence interest charges could build on any given "customer" that makes these purchases and has a credit card with a given bank. So, basically, the banks are going to make money, some people are going to lose money, and some people may make a little money off of these transactions.
What's wrong with the above situation? Not much, except for the fact that this is just another example of the banks trying to control us in yet another way. It's a slap in the face to a customer of a GIANT business. We're not a bunch of damn hobos wandering around the Internet, trying to buy our fix of crypto coins. We're legitimate citizens with built up credit, from which the banks decided they would trust us with extended spending power, and then decided they would change the rules because of their personal opinions.
Sadly, my point is probably moot anyways, because you seem to be on the bank's side as it is. Have fun with that.
....On that $1 price...Not to mention, (if it's not that large of a number), I believe if it's under like $60k, a long term capital gain (a year or over held) has 0% tax liability. #KnowTheFacts
To everyone who seems to be only looking for an argument because of this comment: Slow your role, read my comment over again, and realize something. I'm not saying GPS is the do-all-say-all to everything. I'm saying that disabling yourself to use GPS while driving for a living is just illogical. Know the area you work/drive. That's taking the extra (or correct, rather) mile. Great, awesome, sounds like an advantage. But saying, "fuck maps and GPS, I KNOW EVERYTHING IN MY MIND" while everyone else who knows the area AND has a GPS to keep track of traffic volumes and all that just sounds like a gimmicky setback.
Yes, I'm saying that all taxis might as well just crash into a wall if GPS goes down. Because they're useless without it, entirely. And since you're so quick to jump on wild conclusions, let me just add that I'm being purely sarcastic.
Except for the fact that GPS apps show us current status on traffic jams and accident sites. Committing directions to memory doesn't really help in this way. So, I don't know that I'd call this an, "advantage".
And by the way, I've been through these CC woes myself. CapitalOne told me no, after letting me purchase on CB. I asked a credit union if they would allow me to do it, they said "Yes, you can buy what you want, as long as you're not going to some sketchy exchange!" So, I canceled that POS CapitalOne card, shredded it, and now I'm happy.:)
Before it was that people were having their credit cards stolen to buy crypto (wow, first time I've ever heard of CC's being stolen online). Now it's volatility and risk. I bet. This is just banks trying to prolong people's abilities to make money elsewhere, other than within the big bank's domain (where they make money off of all of us, so why WOULD they support crypto?).
...Instead of letting any basic shitcoin post ads, you let reputable coins advertise and there won't be so many scams circulating through ads. If you're able to find out that a page is based on Russian propaganda/fake news, I think you can do a little research on a coin before you allow it project sponsored ads to everyone on Facebook.
I hate cryptocurrency and everyone that likes it. I love the US Dollar and the banks holding on to my money for me.
Generic response about a bubble and how I don't want responsibility in my life. I'd rather someone else do it for me, blah blah.:)))))
If you're so smart, you could go Google it yourself.
Instead, I'll enlighten you. Does it really matter? Not really, because it outperformed that prediction anyways. But, here ya go, lazy:
https://www.reddit.com/r/Bitco...
Slashdot Mirror
How is charging interest to customers not profit? The point of a credit card, to the bank, is to extend credit to someone who has a fair/good reputation credit-wise, so that they will make purchases on said card, in hopes of the consumer NOT actually paying the entire balance of the card so that they can collect interest on the purchases. Nobody gives a shit about debit cards in this thread, so stop mentioning them. It's a crap argument.
That's great. I like that you pointed out the obvious. The thing you don't really understand is the bank decided to extend this spending power to us (so that they could make money off of us via interest charges), and then decided that because this movement might "hurt them", that they're going to try and choke us out in any way that they can. What they don't realize is that people don't always cash out on crypto right away, hence interest charges could build on any given "customer" that makes these purchases and has a credit card with a given bank. So, basically, the banks are going to make money, some people are going to lose money, and some people may make a little money off of these transactions. What's wrong with the above situation? Not much, except for the fact that this is just another example of the banks trying to control us in yet another way. It's a slap in the face to a customer of a GIANT business. We're not a bunch of damn hobos wandering around the Internet, trying to buy our fix of crypto coins. We're legitimate citizens with built up credit, from which the banks decided they would trust us with extended spending power, and then decided they would change the rules because of their personal opinions. Sadly, my point is probably moot anyways, because you seem to be on the bank's side as it is. Have fun with that.
I DID go look elsewhere. Didn't have a card with Wells, but go screw yourself :)
Simply stated: I agree. Thanks for a well thought-out post
But I read that as, "Irreparable Ham", and I was scared for a moment.
....On that $1 price...Not to mention, (if it's not that large of a number), I believe if it's under like $60k, a long term capital gain (a year or over held) has 0% tax liability. #KnowTheFacts
I read the headline and said to myself, "Because there's not a single point of failure..." *pats self on back* (gotta do that sometimes...)
Sounds good. Have fun with that
To everyone who seems to be only looking for an argument because of this comment: Slow your role, read my comment over again, and realize something. I'm not saying GPS is the do-all-say-all to everything. I'm saying that disabling yourself to use GPS while driving for a living is just illogical. Know the area you work/drive. That's taking the extra (or correct, rather) mile. Great, awesome, sounds like an advantage. But saying, "fuck maps and GPS, I KNOW EVERYTHING IN MY MIND" while everyone else who knows the area AND has a GPS to keep track of traffic volumes and all that just sounds like a gimmicky setback.
Yes, I'm saying that all taxis might as well just crash into a wall if GPS goes down. Because they're useless without it, entirely. And since you're so quick to jump on wild conclusions, let me just add that I'm being purely sarcastic.
Except for the fact that GPS apps show us current status on traffic jams and accident sites. Committing directions to memory doesn't really help in this way. So, I don't know that I'd call this an, "advantage".
Because BTC is the only crypto out there.
And by the way, I've been through these CC woes myself. CapitalOne told me no, after letting me purchase on CB. I asked a credit union if they would allow me to do it, they said "Yes, you can buy what you want, as long as you're not going to some sketchy exchange!" So, I canceled that POS CapitalOne card, shredded it, and now I'm happy. :)
Before it was that people were having their credit cards stolen to buy crypto (wow, first time I've ever heard of CC's being stolen online). Now it's volatility and risk. I bet. This is just banks trying to prolong people's abilities to make money elsewhere, other than within the big bank's domain (where they make money off of all of us, so why WOULD they support crypto?).
A (crypto) buyer's market. Otherwise, #HODL
You do have a very valid point.
Get in on this fire sale, or panic and get out. Only window lickers panic, though. So, have fun cleaning the windows.
...Instead of letting any basic shitcoin post ads, you let reputable coins advertise and there won't be so many scams circulating through ads. If you're able to find out that a page is based on Russian propaganda/fake news, I think you can do a little research on a coin before you allow it project sponsored ads to everyone on Facebook.
For that price? What a piece of crap!
I guess that was a "No".
Sure.
Good observation. Have you seen any of the literal hundreds of other coins out there that ARE feasible for consumer use?
I hate cryptocurrency and everyone that likes it. I love the US Dollar and the banks holding on to my money for me. Generic response about a bubble and how I don't want responsibility in my life. I'd rather someone else do it for me, blah blah. :)))))
Let me just reiterate, too. Apparently, nobody has been paying attention. You proved this to me.
If you're so smart, you could go Google it yourself. Instead, I'll enlighten you. Does it really matter? Not really, because it outperformed that prediction anyways. But, here ya go, lazy: https://www.reddit.com/r/Bitco...