UK Banks Continue to Crack Down on Crypto Purchases: HSBC, Nationwide Limit Limits

Summary of the Article

  • U.K. banks have imposed new limits on their customers’ cryptocurrency purchases via debit cards, with HSBC and Nationwide being the latest banking giants to do so.
  • HSBC states that this decision is due to alleged financial risk to customers.
  • These new limitations on customers places U.K. citizens at a further disadvantage in regards to acquiring bitcoin, highlighting the need for more decentralized, peer-to-peer exchanges.

Nationwide and HSBC Impose Limits on Crypto Purchases

British banks have continued to crack down on their customers’ cryptocurrency purchases. According to a Bloomberg report, Nationwide and HSBC are the latest U.K. banking giants to impose new limits on their customer’s cryptocurrency purchases via debit cards and end purchases with credit cards.

Nationwide is applying daily limits of £5,000 ($5,965) on debit-card purchases of cryptoassets, while its credit cards can no longer be used to buy crypto. HSBC said it barred customers from making crypto purchases via its credit cards from last month.

Risk of Fraud Cited as Reason for Restrictions

Most of the major [U.K.] banks have also implemented exchange-specific restrictions, with the world’s largest crypto platform Binance Holdings Ltd. being the most popular target. Alison Rose, CEO of NatWest Group described how the bank had taken a “pretty hard line” on cryptocurrency due to the instability and volatility of the platforms and risk of fraud which she attributed mostly to social media and technology platforms.

UK Citizens Disadvantaged by Restrictions

These new limitations on customers places U.K citizens at a further disadvantage in regards to acquiring bitcoin .As such developments are taking place ,it highlightsthe need for more decentralized ,peer-to-peer exchanges that can facilitate no -KYC bitcoin transactions .

Previous Moves From UK Banks

Bitcoin Magazine coveredthe startof these movesfrom U . K banks intandemwith increasingdiscussion ofaU . K CBDC .

< h2 >Conclusion The article highlights how UK banks are imposing stricter restrictions on customer’s cryptocurrency purchases , leadingto a disadvantage in terms ofacquiring bitcoin .This emphasizes the needfor more decentralized ,peer -to -peerexchanges that can facilitate no -KYCbitcoin transactions .

Trezor Secures Its Silicon Chip Supply Chain for Improved Device Security

• Trezor, a Prague-based Bitcoin hardware company, has taken control of its silicon chip supply chain.
• The new chip wrapper improves device security and shortens lead times for mass production.
• SatoshiLabs also announced the development of an open-source chip for usage in Bitcoin hardware.

Trezor Takes Control of Silicon Chip Supply Chain

Trezor, a Prague-based Bitcoin hardware company, has announced that it has taken control of its silicon chip supply chain by facilitating the manufacture of its own key component, the chip wrapper, for its flagship product, the Trezor Model T. This move improves device security and significantly shortens lead times for mass production.

Device Security Improved

The new chip wrapper enhances device security and provides more design freedom for future products. Štěpán Uherik, CFO at Trezor commented that “The twists and turns in demand for hardware wallets and the silicon supply chain disruption that we’ve seen over the past few years was a problem that we needed to solve”. He added that “By unpacking the process, identifying areas where we could take control, and collaborating with our partners in new ways, we’ve managed to make the manufacturing as agile as it can be.”

Open Source Chip Development

SatoshiLabs also announced last year the development of an open-source chip for usage in Bitcoin hardware. The initial testing on this first chip called TROPIC01 has recently been completed with expectations of continued testing throughout 2023.

Leadership Sustained in Market

With improved device security and shorter lead times for mass production thanks to this move by Trezor, they will be able to maintain their leadership position within the increasingly competitive hardware wallet space.

Confidence Increased

                                                                                                                                Securely controlling their own silicon chips gives Trezor greater confidence in their ability to continue producing quality products despite geopolitical pressure on their supply chain.

Fiat Money: How It Ruins Incentives For Individuals & Companies

• Fiat money ruins individual incentives by creating a lack of savings vehicles and availability of debt.
• Companies are artificial and don’t have the same level of relationships as families, yet they are much more popular in a fiat economy.
• Government/corporate safety nets provide individuals with insurance, pensions, etc., freeing them from relying on their families for security.

The Impact of Fiat Money on Individual Incentives

Fiat money has had far reaching impacts on individual incentives due to its lack of savings vehicles and availability of debt. This creates an incentive structure that encourages consumption over saving, leading to people relying more heavily on government/corporate safety nets than their own family or kin for security.

Lack of Savings Vehicles

Individuals in a fiat economy are unable to save value as there are no savings vehicles available to them. This forces them to work hard just to maintain the value they have accrued, rather than being able to store it away for future use. The lack of available savings options means that individuals will often opt for short-term gains such as consuming goods or services instead of investing in longer-term strategies such as building wealth through stocks or property.

Availability of Debt

The availability of debt also contributes to this shift towards consumption rather than saving. Individuals can borrow against their future earnings which gives them access to funds that they would otherwise not be able to access without waiting until they earn the money themselves. This encourages people to bring forward consumption by borrowing funds that could otherwise be used for investments or other more responsible uses.

Increased Dependency on Companies

The result is an increase in reliance on companies rather than family members for security and well-being. Government/corporate safety nets that provide items such as health insurance, unemployment insurance, social security and life insurance all make it easier for individuals to rely less on their immediate family members and more on these corporate entities when times get tough or when periods of crisis occur.


In conclusion, fiat money has drastically changed the way individuals interact with each other and view their own security by providing government/corporate safety nets which replace traditional familial roles with monetary compensation and benefits packages provided by companies instead. The lack of savings vehicles coupled with the availability of debt create an environment where consumption is encouraged over saving which leads to increased dependence upon companies rather than one’s kin or family members

Nigeria Moves Toward Cashless Economy: Financial Control or Financial Inclusion?

• Nigeria introduced a Central Bank Digital Currency (CBDC), the eNaira, into its financial system in late 2021.
• The Nigerian government has put restrictions on the amount of cash that can be withdrawn, limiting it to about $225 per week with a daily limit of about $45.
• These regulations are mostly about pushing a cashless policy in which the government has complete control over all citizens’ finances.

Nigeria Introduces CBDC

In late 2021, Nigeria, Africa’s most populous country, introduced a central bank digital currency (CBDC), the eNaira, into its financial system in an attempt to drive consumers toward alternative options.

Limitations on Cash Withdrawals

The Nigerian government has now put restrictions on the amount of cash that can be withdrawn from banks at any given time. This limit is set at about $225 per week and $45 daily for individuals.

Government Control Over Citizens’ Finances

These regulations have been met with criticism from Nigerians as they understand that these policies are mostly about financial control and pushing citizens into a cashless Keynesian economy where the government has complete control over their finances.

Central Bank Governor’s Response

Godwin Emefiele, governor of the Central Bank of Nigeria believes that these policies will ensure more people in the country are financially included and keep up with where global money is moving towards. However, many Nigerians feel this is not what is happening as they are gradually being “un-banked”.


The introduction of CBDCs and limitations on cash withdrawals in Nigeria further demonstrate how much control governments seek to have over their citizens’ finances. As such, it is important for citizens to be aware of their rights and take action when necessary for them to be able to maintain full control over their own money.

Earning Bitcoin: 7 Easy Steps to Get Started Today

Bitcoiners’ Low Adoption Rate

• According to CroesusSource, only .01% of the world’s population has adopted Bitcoin.
• This means that there are currently only 250,000 Bitcoin Maximalists (people who hold 50% of their net worth in bitcoin) out of a total of 2.2 billion people.
• This low adoption rate shows that Bitcoiners still have difficulty convincing more people to join their cause.

Origin Story

I can’t remember how I viewed the world before I was a Bitcoiner. I believe that everything can be related back to Bitcoin and it’s obvious to me and other believers. We think that this new system is fairer and will remain long after we’re gone, but in order for it to work, we need to fund it by giving people the opportunity to vote with their money and opt out of fiat currency.

Force Pilling

I started telling my closest friends and family about my epiphany but they weren’t convinced as easily as I was. My attempts at orange pilling didn’t work so well because they just couldn’t see what I saw. It felt like no matter how much evidence or logic I presented, they just couldn’t get on board with my enthusiasm for Bitcoin.

The Solution

The solution is simple – we need more education about cryptocurrencies and blockchain technology so non-believers can understand why it’s important. We also need better marketing tactics so that those who are unfamiliar with cryptocurrencies can still be intrigued enough to learn more about them without feeling overwhelmed or intimidated by the tech behind them.

Working Together

Bitcoiners must come together and focus on spreading awareness about cryptocurrency instead of arguing over which currency is better than another or debating technical details that most people don’t understand yet anyway. We also need to invest in infrastructure improvements such as Lightning Network nodes so transactions become faster, cheaper, and easier for everyone to use – not just us early adopters! Finally, we must continue investing in projects like BTCPayServer which helps businesses accept payments easier across multiple currencies including BTC and ETH while protecting user privacy at all times!

Explore Madeira: The Sun-Kissed Jewel of the Atlantic Bitcoiners Love

What is Madeira?

Madeira is a small island located off the coast of Portugal in the Atlantic Ocean. It is known for its picturesque landscapes, warm climate and rich cultural heritage. It has become a popular tourist destination, with regular direct flights to New York and several European capital cities. Madeiran bananas, passionfruit and tea are exported, while tourism and remittances are important sources of income.

Why Bitcoiners Are Talking About Madeira

This summer saw a group of high-profile Bitcoiners travel to Madeira to “orange pill” the island with their Bitcoin story. Pleb Music shot a documentary featuring drone shots, storytelling sleight of hand and agile camerawork by @Cinemuck_. The Northern hemisphere winter makes for an excellent time to watch it and learn about why this Portuguese isle should feature on any traveling Bitcoiner’s bucket list.

Features Of The Island

Madeira features an abundance of natural beauty that has attracted tourists from around the world. It also boasts a temperate climate which allows for year-round activities such as ecotourism and digital nomadism. In addition, Madeiran cuisine includes espetada (a posh kebab) as well as quality steak and fish – something that appeals to many Bitcoiners.

Why Visit?

Visiting Madeira can offer travelers an insight into traditional culture while also sampling some delicious food options. For those interested in cryptocurrency, it is also an ideal spot to explore Bitcoin adoption, as the island has been working on ways to increase usage of the currency in recent years.


Madeira is a beautiful island with plenty to offer both tourists and cryptocurrency enthusiasts alike. Its warm climate, diverse landscape and various attractions make it a great destination for travelers looking for something new or wanting to explore more about Bitcoin adoption!

New Hampshire and Texas Eye Bitcoin Adoption: Reports Suggest Integration

• The Commission On Cryptocurrencies And Digital Assets in New Hampshire has suggested the state integrate bitcoin mining operations into its energy plan.
•Texas Work Group On Blockchain Matters recently recommended allowing bitcoin investments and giving tax incentives to local miners.
• Both reports cite the need for regulation to protect consumers and advocate for further research into Bitcoin.

New Hampshire Investigating Bitcoin Integration Into Energy Plan

Governor Chris Sununu of New Hampshire issued an executive order in February 2022, directing the state’s Commission On Cryptocurrencies And Digital Assets to look into how bitcoin mining operations could be integrated into a statewide energy plan. The commission returned results that suggest such integration would have positive impacts on the electricity system, including contributing to a more stable grid, more sustainable generation projects, and lower costs for consumers generally.

Texas Looking Into Allowing Bitcoin Investments

A report directed at members of the Texas legislature titled “Texas Work Group On Blockchain Matters” suggested making bitcoin an authorized investment for the state, while giving tax incentives to local BTC miners. The report concluded that further research was necessary before any decisions were made about incorporating cryptocurrency into the economy.

Regulation Necessary For Consumer Protection

The New Hampshire report also emphasized that regulations must be in place to protect consumers from potential risks associated with cryptocurrency investments. Appendix B of their findings states that “a well regulated cryptocurrency market provides consumer protection, and trust in the market which is a boon to investors, the general public, and businesses alike.” This indicates that American states are increasingly considering the benefits of embracing bitcoin while protecting citizens from harm through adequate regulation.

States Leading Way In US Adoption Of Bitcoin

If states like New Hampshire and Texas choose to follow these recommendations it could lead other U.S. states towards greater adoption of cryptocurrencies. It is important for those within or connected to the Bitcoin ecosystem to advocate for continued inquiry into how states can safely incorporate cryptocurrency technologies so as not only benefit their own economies but also advance wider adoption across America as a whole.


In conclusion, it appears as though both New Hampshire and Texas are keen on exploring ways in which they can incorporate digital assets such as Bitcoin into their respective economies safely with adequate regulation in place to protect citizens from potential harms associated with cryptocurrency investments . As such these two states may end up leading other American states towards greater adoption of cryptocurrencies if they decide to take action on these recommendations moving forward .

Healthcare Reform: Ensuring Access and Affordability for All

•The US primarily has a private healthcare system that is paid for through health insurance cards and copays.
•The problem in America isn’t a lack of healthcare providers, it’s how healthcare services are paid for.
•Patients are often hit with surprise bills they haven’t budgeted for, and healthcare providers have difficulty finding qualified staff.

Access to healthcare is a fundamental right that should be provided to all citizens, regardless of their economic status. Yet, the way healthcare is delivered and paid for varies from country to country. The United States primarily relies on a private healthcare system, with the cost of services being met by health insurance companies and patients.

When a patient visits their healthcare provider, they are typically expected to pay a copay or coinsurance, but there is no way of knowing the exact cost before the visit. Furthermore, the bills that do come later are often not accounted for in a patient’s budget and can lead to financial hardship. This is compounded by the fact that healthcare providers are often hard-pressed to find qualified staff.

The healthcare industry in the United States is in desperate need of reform. We must ensure that citizens have access to quality care while also making sure they are not subjected to unexpected financial burdens. The federal government should look into providing additional assistance to healthcare providers, such as tax credits and grants, in order to ensure they have the necessary financial resources to hire qualified staff. Additionally, it is important to make sure that health insurance companies are transparent about their policies and the costs associated with them, so that patients are not left with a surprise bill that they can’t afford.

Ultimately, access to healthcare is a basic human right and should be available to everyone. It is essential that the US government take steps to ensure that healthcare is accessible and affordable for all Americans. Only then can we ensure that everyone has the access to the care they need to stay healthy.

Choose Your Fighter: Bitcoin Maxis vs. Fiat Maxis in the Monetary War

• Bitcoin maximalists have had a difficult year due to the recent price drawdown and mainstream coverage of their views.
• Bitcoin maxis and fiat maxis have some similarities in their structure, but differ dramatically in how they attempt to achieve their goal.
• Comparing Bitcoin maxis and fiat maxis is similar to selecting a fighter in a game, as both sides have their own arguments and ideologies, and one strategy is better suited to win in the game of monetary dominance.

The world of cryptocurrency has been a wild ride in the past year, with Bitcoin maximalists experiencing a rollercoaster of highs and lows. On the one hand, Bitcoin has been the leader of the pack, with its price rising and falling in spectacular fashion, and its fanatical fans proselytizing its virtues in the digital currency space. On the other hand, Bitcoin maximalists have had to bear the brunt of the recent price drawdown and the mainstream coverage that has been largely negative. Despite this, Bitcoin maximalists have maintained their enthusiasm for their chosen digital currency.

But what of their counterparts, the so-called “fiat maximalists”? These are the people who believe that the current system of fiat currency is the ultimate form of money, and they have a certain air of superiority when it comes to the mainstream. Surprisingly, both Bitcoin maxis and fiat maxis have some similarities in their structure, but their approach to achieving their goal is where they differ drastically.

Just like when one is playing a game and must select a fighter, comparing Bitcoin maxis and fiat maxis is also a matter of choosing one over the other. Each side has its own arguments and ideologies, and one strategy is better suited to win in the game of monetary dominance. Bitcoin maximalists focus on Bitcoin and criticize other technologies, while fiat maximalists believe that fiat currency is the ultimate form of money. Bitcoin maximalists want to cleanse the cryptocurrency world of its bad actors, while fiat maximalists want to maintain the current system of money.

Ultimately, whichever side you choose is up to you, but there are pros and cons to both Bitcoin maxis and fiat maxis. Bitcoin maximalists are well aware of the potential of Bitcoin, but they must also take into account the risks associated with it and the volatility of its price. Fiat maximalists, on the other hand, have the stability of fiat currency but must also be aware of the inherent risks of relying on a centralized system.

At the end of the day, it’s up to each individual to decide which side of the coin they want to come down on. Whichever way you choose to go, it’s important to understand the implications of that choice and to make sure that you are well informed on both sides.

Bitcoin Outlasts the Rest: Standout Survivor in Cryptocurrency Landscape

• CoinKickoff released a report which demonstrated the failures of various altcoin projects throughout the years and how Bitcoin is the standout survivor.
• 91% of the coins that were present for the 2014 cryptocurrency market crash are now entirely abandoned, with 2018 being the deadliest year in cryptocurrency history.
• Despite the onslaught of altcoins, Bitcoin persists with a steady climb in hash rate, over 1 million addresses now holding one bitcoin or greater, and over $14 trillion in annual transaction volume.

Cryptocurrency has been a roller coaster ride for those who have been involved for the past few years. With rapid increases in value, to devastating crashes and the influx of thousands of altcoins, the market has been filled with both exhilaration and disappointment. But one currency has been the standout survivor throughout it all: Bitcoin.

Recently, CoinKickoff released a report which demonstrates the failures of various altcoin projects throughout the years and how Bitcoin is the standout survivor. According to their data, 91% of the coins that were present for the 2014 cryptocurrency market crash are now entirely abandoned. A large portion of coins that are now dead were created in 2017, with 704 now-dead coins being created that year. The crown for the single most deadly year in cryptocurrency history goes to 2018, during which 751 coins became defunct. Reasons for the death of these projects range from being a scam or other related issues, being a joke or having no purpose, being an ICO or short-lived scheme, or simply running entirely out of volume.

Despite all of this, Bitcoin continues to persist. Hash rate, which measures the amount of computing power being used to secure the network, has been steadily increasing, now up to 270 EH/s according to Hashrate Index. Moreover, more than 1 million addresses now hold one bitcoin or greater, although it should be noted that Bitcoiners may use multiple addresses. Beyond that, over $14 trillion in annual transaction volume was carried over the Bitcoin network the past year, a 13,900% increase from 2015’s transaction volume. These metrics indicate that the Bitcoin network is growing, while altcoins which hope to ride on its coattails simply have no longevity.

The resilience of Bitcoin can be seen through the various events the network has withstood. The Blocksize Wars, for example, was an existential attack on the network which threatened its existence. Bitcoiners, however, stuck together and found a compromise, allowing the network to survive. This resilience is just one example of how Bitcoin is the standout survivor.

Overall, CoinKickoff’s data demonstrate that Bitcoin is the standout survivor throughout the tumultuous cryptocurrency landscape. The amount of altcoins that have failed and become entirely abandoned is staggering, yet Bitcoin persists with its growing hash rate, over 1 million addresses now holding one bitcoin or greater, and over $14 trillion in annual transaction volume. Metrics like these continually demonstrate the strength of the Bitcoin network, and its ability to withstand the ups and downs of the industry.