Citi Bank India Stopped Usage of Cards for Purchase of Crypto Currencies by codingdefined

View this thread on: hive.blog | peakd.com | ecency.com

discussion · @codingdefined · Feb 13 '18 (edited)

$2.47

Citi Bank India Stopped Usage of Cards for Purchase of Crypto Currencies

Today I got a mail from Citi Bank saying that because of potential economic, financial, operational, legal, customer protection and security related risks asscoiated with Bitcoins and cryptocurrencies , Citi Bank has decided to not permit usage of credit and debit cards towards purchase of cryptos.

Now let me ask you a question how come using debit or credit cards for purchasing cryptos is a risk for economic. Financially people will become sound because it is one way of investment, I don't think it as a financial risk. They say legal risks, according to RBI there is no such notice to stop purchasing bitcoins or cryptocurrencies to it should not be legal. They talk about Customer Protection, are we really protected as you are the ones who give our details to credit card department and they call us numerous times in a day. 

![Screenshot_20180213-195936_2.png](https://steemitimages.com/DQmeT83JiEzFYnnRQ4VaS5KyhUiAUb87hRtrwNNZA5d4d2G/Screenshot_20180213-195936_2.png)

Your thoughts on this?

👍 geetharao, pharesim, qurator, codingdefined, minnowsupport, nettybot, boontjie, magicmonk, wewt, immortal1663, preeti, msp3k, steemprentice, stephen.king989, sagescrub, drishitmitra, aditya-k, gamerveda, princess11, steemliberator, steemcreate, r2steem2, matrixonsteem, witnessstats, rondonson, pomperipossa, jhermanbeans, agar, brotato, cajun, coonass, squirrelnuts, pizaz, steemdevs, oleg326756, wagun001, shawkr13, shellyduncan, fronttowardenemy, cryptohustler, numpypython, jorgegp, myday, i-steem, edrivegom, decibel, redpillproj, qwasert, gexi, krazypoet, scrooger, superdavey, gindor, theleapingkoala, pheonike, orlandumike, entrepreneur916, thashadowbrokers, tittilatey, triplethreat, conflaxus, test.with.dots, jeezy, pi-pi, and 3 others

`author`	codingdefined
`permlink`	citi-bank-india-stopped-usage-of-cards-for-purchase-of-crypto-currencies
`category`	discussion
`json_metadata`	{"tags":["discussion","news","bitcoin","cryptocurrency","india"],"image":["https://steemitimages.com/DQmeT83JiEzFYnnRQ4VaS5KyhUiAUb87hRtrwNNZA5d4d2G/Screenshot_20180213-195936_2.png"],"app":"steemit/0.1","format":"markdown"}
`created`	2018-02-13 17:14:30
`last_update`	2018-02-13 17:44:21
`depth`	0
`children`	5
`last_payout`	2018-02-20 17:14:30
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	2.114 HBD
`curator_payout_value`	0.355 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	1,004
`author_reputation`	532,929,792,362,974
`root_title`	"Citi Bank India Stopped Usage of Cards for Purchase of Crypto Currencies"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	37,261,353
`net_rshares`	347,116,696,004
`author_curate_reward`	""

properties (23)vote details (67)

voter	rshares	pct
pharesim	76,952,047,332	0.02%
pheonike	77,254,720	0.5%
edrivegom	140,860,151	0.05%
magicmonk	8,505,532,105	5%
stephen.king989	1,051,167,082	0.1%
jhermanbeans	305,433,380	0.05%
oleg326756	251,669,393	0.5%
steemprentice	1,204,567,605	0.05%
pomperipossa	319,309,343	0.05%
fronttowardenemy	188,594,126	0.3%
numpypython	177,375,603	0.05%
decibel	140,185,371	0.25%
gindor	96,558,745	0.1%
scrooger	105,793,964	0.66%
shellyduncan	202,206,567	0.05%
rondonson	333,135,608	0.5%
qwasert	117,152,288	0.1%
cryptohustler	185,857,881	0.5%
geetharao	104,924,971,107	100%
minnowsupport	19,208,907,636	0.5%
myday	166,950,406	0.05%
gamerveda	596,216,945	0.25%
immortal1663	4,287,039,884	100%
codingdefined	28,660,667,275	100%
krazypoet	110,876,632	0.02%
nettybot	9,716,735,862	20%
matrixonsteem	442,763,587	100%
steemliberator	536,848,682	100%
theleapingkoala	82,879,953	0.5%
jorgegp	169,904,298	0.06%
msp3k	2,479,225,718	100%
witnessstats	442,508,270	100%
shawkr13	215,901,159	1.2%
boontjie	9,100,213,084	100%
redpillproj	124,086,665	0.5%
i-steem	156,415,031	100%
superdavey	104,212,655	0.04%
preeti	3,484,637,823	100%
r2steem2	445,661,965	100%
qurator	59,946,987,023	2%
steemcreate	463,023,412	100%
drishitmitra	738,179,935	100%
aditya-k	601,086,455	100%
thashadowbrokers	53,043,532	100%
brotato	258,460,877	100%
pizaz	258,038,025	100%
triplethreat	53,014,637	100%
wewt	5,398,661,984	20%
conflaxus	52,988,165	100%
tittilatey	53,032,251	100%
cajun	258,398,473	100%
coonass	258,143,050	100%
squirrelnuts	258,063,778	100%
steemdevs	257,964,342	100%
jeezy	52,965,524	100%
sagescrub	792,389,350	0.05%
test.with.dots	52,966,565	100%
pi-pi	52,939,895	100%
listentosteem	52,937,040	100%
gexi	111,953,382	0.5%
agar	300,149,670	1%
gravy	52,921,321	100%
wagun001	217,481,466	2%
entrepreneur916	56,527,823	0.5%
orlandumike	65,235,321	0.05%
princess11	586,816,807	100%
khushbakht	0	100%

@drishitmitra · Feb 13 '18

May be we have to invest all our money in crypto before the banks turn their backs lol

properties (22)

`author`	drishitmitra
`permlink`	re-codingdefined-citi-bank-india-stopped-usage-of-cards-for-purchase-of-crypto-currencies-20180213t184834244z
`category`	discussion
`json_metadata`	{"tags":["discussion"],"app":"steemit/0.1"}
`created`	2018-02-13 18:48:33
`last_update`	2018-02-13 18:48:33
`depth`	1
`children`	0
`last_payout`	2018-02-20 18:48:33
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	86
`author_reputation`	27,514,299,940
`root_title`	"Citi Bank India Stopped Usage of Cards for Purchase of Crypto Currencies"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	37,278,543
`net_rshares`	0

@i-steem · Feb 17 '18

Its really pitty dear. In fact they fear of cryptos and fear of  their future.  Majority of Banks world over fear and demotivate people to invest in and use of cryptos.  Cryptocurrency is a freedom and they not want us to be free.  Moreover there is corruption in the system.

👍 i-steem

`author`	i-steem
`permlink`	re-codingdefined-citi-bank-india-stopped-usage-of-cards-for-purchase-of-crypto-currencies-20180217t105004813z
`category`	discussion
`json_metadata`	{"tags":["discussion"],"app":"steemit/0.1"}
`created`	2018-02-17 10:50:18
`last_update`	2018-02-17 10:50:18
`depth`	1
`children`	0
`last_payout`	2018-02-24 10:50:18
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	275
`author_reputation`	470,348,268,076
`root_title`	"Citi Bank India Stopped Usage of Cards for Purchase of Crypto Currencies"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	38,229,502
`net_rshares`	152,600,030
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
i-steem	0 B		152,600,030	100%

@immortal1663 · Feb 13 '18 (edited)

The Banks and Governments with there Bureaucrats<----Notice the word RATS in there name, they will continue there assault on Crypto.  They certainly don't want to lose there Ponzi Scheme either as it's the biggest one in the history of the world.  P.S.  I receive nothing for sharing this video other than the comfort it brings me for sharing.
Check it: https://youtu.be/iFDe5kUUyT0  
Peace, Kris

properties (22)

`author`	immortal1663
`permlink`	re-codingdefined-citi-bank-india-stopped-usage-of-cards-for-purchase-of-crypto-currencies-20180213t173039688z
`category`	discussion
`json_metadata`	{"tags":["discussion"],"image":["https://img.youtube.com/vi/iFDe5kUUyT0/0.jpg"],"links":["https://youtu.be/iFDe5kUUyT0"],"app":"steemit/0.1"}
`created`	2018-02-13 17:30:36
`last_update`	2018-02-13 17:31:51
`depth`	1
`children`	0
`last_payout`	2018-02-20 17:30:36
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	396
`author_reputation`	15,341,626,585
`root_title`	"Citi Bank India Stopped Usage of Cards for Purchase of Crypto Currencies"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	37,264,339
`net_rshares`	0

@jason7282 · Feb 13 '18

Banks are getting real scared! In my opinion this is a great sign. Slow transition from banks to crypto hopefully is soon. But imagine a billion dollar corporation doing this clearly they have something to worry about.

properties (22)

`author`	jason7282
`permlink`	re-codingdefined-citi-bank-india-stopped-usage-of-cards-for-purchase-of-crypto-currencies-20180213t171629127z
`category`	discussion
`json_metadata`	{"tags":["discussion"],"app":"steemit/0.1"}
`created`	2018-02-13 17:16:30
`last_update`	2018-02-13 17:16:30
`depth`	1
`children`	0
`last_payout`	2018-02-20 17:16:30
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	218
`author_reputation`	12,384,186,555,907
`root_title`	"Citi Bank India Stopped Usage of Cards for Purchase of Crypto Currencies"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	37,261,700
`net_rshares`	0

@minnowsupport · Feb 13 '18

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by codingdefined from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>

properties (22)