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Maybe they did, maybe they didn't. It's irrelevant to deflect. The point is that banks use a relatively simple / flat fee structure now because user expectati
by bduerst 10y ago
Maybe they did, maybe they didn't. It's irrelevant to deflect.
The point is that banks use a relatively simple / flat fee structure now because user expectations are important for payment transactions.
This whole "Banks had this problem centuries ago" doesn't make a strong argument for bitcoin's competitive use as a currency.
- jsprogrammer 10y agoI missed that point. I argue exponential compounding interest is not so simple and certainly not flat. The US Federal government has required banks to produce standard term sheets that supposedly more clearly describe a bank's particular fee scheme. That is how bad "they" are.