Anti-trust violation: Crypto bans by Credit Cos and banks

[bookish]

FYI any credit card companies, banks etc. that ban buying and selling of crypto are committing an anti-trust violation. Anyone wanting to buy or sell or who already owns crypto can sue for the loss of value or extra expense or effort involved in obtaining the crypto.

Additionally, credit card issuers who do not allow you to pay with a prepaid debit card are also violating the anti trust act.

As far as I am aware no one has tried either of these in court. If you have a good attorney and an honest judge... QUIT LAUGHING!!! ... you should win.

If you win send me some $$$

Please cross post to other forums, with a link.

 

[Slartibartfast]

I just spent the morning helping a school remove crypto mining trojans from 60 computers, cost them a fair bit on their power bills, legit paid for Kaspersky useless.

Who on earth knows how much of this is going by crypto criminals and their fanboys.

Shut it all down. Cross post to other forums.

 

[bookish]

Cointel-pro was (and still is under a different name) an illegal FBI program in which they sabotaged, debilitated, and murdered people (having nothing to do with communism - contrary to what the press says) and money laundering laws help them by allowing them to make sure the victims are too poor to afford security and legal help.

Let it go. Cross post to other forums.

 

[Slartibartfast]

Cointel-pro was (and still is under a different name) an illegal FBI program in which they sabotaged, debilitated, and murdered people (having nothing to do with communism - contrary to what the press says) and money laundering laws help them by allowing them to make sure the victims are too poor to afford security and legal help.

Let it go. Cross post to other forums.

Crypto is a massive boon to criminals and a minor saving to normal people offset by the increase in criminality. Not going to let it go to please sociopaths

Shut it down, it is doing no good. Stop stealing from poor people's power bills and ruining their phone batteries.

Greedy & blind to morality crypto kids.. get more reason out of flat Earthers.

 

[Sig]

FYI any credit card companies, banks etc. that ban buying and selling of crypto are committing an anti-trust violation. Anyone wanting to buy or sell or who already owns crypto can sue for the loss of value or extra expense or effort involved in obtaining the crypto.

Additionally, credit card issuers who do not allow you to pay with a prepaid debit card are also violating the anti trust act.

As far as I am aware no one has tried either of these in court. If you have a good attorney and an honest judge... QUIT LAUGHING!!! ... you should win.

If you win send me some $$$

Please cross post to other forums, with a link.

So you do understand that you have to prove actual active collusion to win an anti-trust case if you claim that multiple companies are in on it. That's the only possible case you'd have given the fact that card processing isn't a monopoly. Also, it's not illegal to decline to support your competitors product, you know that right?

 

[bookish]

So you do understand that you have to prove actual active collusion to win an anti-trust case if you claim that multiple companies are in on it. That's the only possible case you'd have given the fact that card processing isn't a monopoly. Also, it's not illegal to decline to support your competitors product, you know that right?

You are incorrect on all counts.

Collusion is only one of a number of activities that violate antitrust law. I'm not alleging collusion.

Imagine for a moment that one of the banks said they won't let you buy from amazon because amazon offers a credit card.

Or if they said you can't pay off your balance with a card from a particular bank.

 

[bookish]

Crypto is a massive boon to criminals and a minor saving to normal people offset by the increase in criminality. Not going to let it go to please sociopaths

Shut it down, it is doing no good. Stop stealing from poor people's power bills and ruining their phone batteries.

Greedy & blind to morality crypto kids.. get more reason out of flat Earthers.

Thats like saying you want to ban cars because once in a while someone gets hit by a drunk driver. (Me actually) Quit trying to enslave humanity when all you need to do is go around and test everyone for criminal insanity and lock up the baddies. Sadly we don't do that because the baddies are the ones running things.

 

[Sig]

You are incorrect on all counts.

Collusion is only one of a number of activities that violate antitrust law. I'm not alleging collusion.

Imagine for a moment that one of the banks said they won't let you buy from amazon because amazon offers a credit card.

Or if they said you can't pay off your balance with a card from a particular bank.

Then what exact part of anti-trust law are you alleging? Anti-trust requires either a monopoly/market dominance by one firm or collusion. You don't have either you don't violate anti-trust. You have neither in any of your examples. A bank could absolutely say that you can't buy from Amazon without running afoul of any anti-trust law! Bad business practice for them, may get in trouble if it impacts a protected class under civil rights law, but certainly not covered under any anti-trust law. And neither is banning purchase of Bitcoin. In fact you'll find that there are all kinds of things you can't buy with a credit card. Hell, you'll be hard pressed to fund a brokerage account with a credit card, to bring the conversation closer to home.

You may want to brush up on that particular field, your knowledge is a bit lacking. Perhaps start by finding the actual law or some case law that illustrates your Amazon example, for a start.

 

[bookish]

The Federal Trade Commission Act bans "unfair methods of competition"

This includes discouraging use of debit cards by credit card companies not allowing people to use them to pay off credit cards. It also includes not allowing people to buy or sell cryptocurrencies or transact with cryptocurrency exchanges.

 

[bookish]

By the way, not allowing people to fund brokerage accounts with a credit card is also a violation of the FTC act and I've been waiting a long while for a brokerage to bitch-slap a bank over this.