Forget $9,000… Bitcoin falls below $7,000

Re:Forget $9,000… Bitcoin falls below $7,000 by spiraldancing on Monday February 05, 2018 @03:43PM (#16311984)

So, the latest drop seems to be triggered by credit card companies blocking purchase of cryptocoins "'cuz volatile".

Am I missing something? Since when do CC companies get to decide where you use your card? I thought it worked the other way around — businesses decide whether or not they accept CCs.

Are there other examples of CC companies blocking (legal) purchases made by people with good credit history?

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Re:Forget $9,000… Bitcoin falls below $7,000 by wmf on Monday February 05, 2018 @04:05PM (#16312178)

Some credit card networks, processors, and/or banks also prohibit counterfeit or unauthorized goods, gambling, marijuana, tobacco, weapons, fireworks, radioactive materials, mug shot publication, bankruptcy lawyers, psychic services, etc. (copied from Stripe) I thought they also banned the sale of human hair (no joke) but maybe that's been changed.

Also keep in mind that these banks allow you to buy cryptocurrency with debit cards, just not with credit.

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Re:Forget $9,000… Bitcoin falls below $7,000 by psyc on Monday February 05, 2018 @03:48PM (#16312035)

The greater fool basis for valuation runs out eventually. I believe this is simply a bubble popping.

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Re:Forget $9,000… Bitcoin falls below $7,000 by stcredzero on Monday February 05, 2018 @03:54PM (#16312080)

So long as they are able, so long as it's profitable, people speculating in cryptocurrency will encourage yet more bubbles.

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