Reply to post: Re: The folly of individuals notwithstanding...

Lloyds Bank bans Bitcoin purchases by credit card customers

Anonymous Coward
Anonymous Coward

Re: The folly of individuals notwithstanding...

The folly of individuals notwithstanding...

When did banks get to tell their customers what they can and cannot buy?

Investments may go down as well as up etc. What if someone wants to use their card to buy a load of "investment" wine? Sorry, mate you've had enough?

Banks and financial institutions do generally take some steps to ascertain whether they are likely to get their money back if they lend it to you though, and decline to lend to you if the risk is deemed too high. The calculation here is clearly that anyone moronic enough to be buying bitcoins on credit is by definition too high a risk to give credit to.

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