Hacker News Reader

Comment by jstanley | Hacker News Reader

> view it through the lense of risk management than any sort of value judgement of crypto currencies.

That a third party is involved in deciding whether or not a purchase is too "risky" to allow is precisely why I want to move to cryptocurrency instead of banking.

View on HN

When you use a credit card to buy something, you are borrowing money.

It is entirely reasonable that your would-be creditors can refuse to lend you money for certain kinds of purchases.

Well it’s their risk though as they need to arbitrate disputes.

They won’t stop you from paying with YOUR money, but if you use a credit card, you are paying with your bank’s money. They will then charge you for it. If many peope can’t pay the money back, the bank looses.

You’re missing the point. They were spending the banks money, not their own, and they are struggling to pay it back. How will you raise money for investing from a crypto?

They are spending their own money the same way you would be if you bought a tv.

Not when the transaction is happening. The bank will charge you later. If many people can’t actually pay at that point, the bank will loose.

Apply that to crypto. When your balance is zero, how do you get a tv?

Have you never canceled a fraudulent charge or had the credit card company flag something that you didn't purchase?

Literally never.

So when someone asks you for money, you don't ask questions, you just give it to them?

Reply on news.ycombinator.com