> “You bet they are and therein lies the dirty little secret. No one is going to upset their big fat cat, exclusive, one of a kind medium of exchange applecart.”
Yes, that’s it.
The ‘volatility’ policy makes no sense. There are many things that are volatile in value.
Thankfully I have no credit cards and will never have them. I purchase everything with debit, cash, credits, or trade; never credit.
People that are borrowing money to speculate on beany babies... I mean tulips.... ooops. I meant bitcoin.
Jpm/chase and others would be wise to revoke credit to these morons.
An extremely long line of respected financial people and economists have warned people about bitcoin. Sadly, greed compromises people and the idea of a quick buck is tempting.
I own a financial institution and have been in finance nearly my entire adult life. This bitcoin thing is just but another scam that I’ve witnessed in my long career.
I knew a guy in the early 60’s who didn’t believe in credit. Then, he got married, and wife got pregnant...
He needed to get a bigger car with room for baby seat, and found out that he couldn’t buy a $3400 car with payments BECAUSE he had NO credit history!!!
Sure woke him up.
And are therefore, no "Hostage". 😁