Hacker News Reader

Comment by quack | Hacker News Reader

No. The joke is that people are demanding a product so badly that theyre doing business with kiddies who dont know how to run a financial institution.

This is literally an economy of "shut up and take my money," but no one wants to play ball.

View on HN

I know this is bad, but financial institutions haven't exactly been reliable, honest, faultless or good, particularly the last few years. My own experiences have been bad, but the world still hasn't pulled out of the hole that the financial industry dug, so I'm pretty well off and lucky if I'm compare myself to the average. I'd suggest a different standard to hold this company to.

Having spent some time in financial institutions, I can only agree with lastlogin's point. It's important to remember that there are many such mistakes in large financial institutions every day.

If I could post on yc and quickly get a response from my bank, I'd be a happy customer.

One time I had almost 1 million extra dollars show up in my Waterhouse Brokerage account. I thought, "huh, that's interesting." It disappeared 4 days later.

Yup, it wasn't as much, but I magically had 10k show up after I made a deposit through a bank teller that stayed there for 2 weeks before finally disappearing.

My father withdrew cash from an ATM a while back, he got less than he asked for but had the asked for amount deducted from his account. He complained. The manager of the bank nodded knowingly when he complained. He wasn't believed. He was told that at the end of the month they would do a stocktake and see. Some months later it was credited back. This is about the best of my bad banking stories. The time our deposit for a house got lost was stressful several years of hard hard saving vanished during a transaction.

I suppose that even with this, bitcoin banks still appear to be far more reputable establishments at the moment than say, either RBS or the Co-op, unless Rob Ford has founded one recently.

Wait! One of the founders was a currency trader at GS?! Doesn't that make them trustworthy?

Reply on news.ycombinator.com