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I have a better solution for those that are angry at banks and wish to innovate around them. Don't use them. Build communities around you that are also happy to

I have a better solution for those that are angry at banks and wish to innovate around them. Don't use them. Build communities around you that are also happy to not use them. There are plenty of working solutions available now to be free of banks - the main thing that is tethering you is lack of faith in crypto/ each other and debt that is still required to be serviced. Once you can unshackle yourself of the debt, you can say goodbye to the traditional banking system. Maybe not completely, but in the most important and significant ways.

Fnoord 9y ago
That's one new can of worms. See, I don't have a lack of faith in cryptography; I have a lack of faith in humans ie. PEBKAC. I believe cryptocurrencies are being and are continuing to be abused by human beings with immense repercussions --some of which we're already seeing, some of which is hidden in plain sight, some of which we're yet to see. From programming errors to deliberate scams to losses of hardware wallets the cryptocurrency world isn't for the faint of heart. Meanwhile, there are more ethical banks. They might not be as popular as the big names heck they might not meet your ethical standards in one way or another but... they are out there. I'd say, check out that solution first.
- hndamien 9y ago
  I hear what you are saying, but it isn’t actually that complicated. Granted, it does get more complicated with larger sums as risk and security requirements increase. That said, if you are an adult, maybe it is time to not rely on a third party to be between you and other economic actors. We don’t do this with information, why do we do it with financial information (who holds what wealth and owes whom how much).
  - Fnoord 9y ago
    > That said, if you are an adult, maybe it is time to not rely on a third party to be between you and other economic actors. We don’t do this with information, why do we do it with financial information (who holds what wealth and owes whom how much). We are outsourcing (in the literal and figural sense) all the time, including with information. Google, Facebook, and arguably Amazon are examples of us outsourcing information. Even there, self hosting (e.g. Mastodon allows a Facebook/Twitter alternative) has its advantages and disadvantages. People do not take disadvantages seriously until it confronts them.

Fnoord 9y ago

That's one new can of worms. See, I don't have a lack of faith in cryptography; I have a lack of faith in humans ie. PEBKAC. I believe cryptocurrencies are being and are continuing to be abused by human beings with immense repercussions --some of which we're already seeing, some of which is hidden in plain sight, some of which we're yet to see. From programming errors to deliberate scams to losses of hardware wallets the cryptocurrency world isn't for the faint of heart. Meanwhile, there are more ethical banks. They might not be as popular as the big names heck they might not meet your ethical standards in one way or another but... they are out there. I'd say, check out that solution first.

hndamien 9y ago
I hear what you are saying, but it isn’t actually that complicated. Granted, it does get more complicated with larger sums as risk and security requirements increase. That said, if you are an adult, maybe it is time to not rely on a third party to be between you and other economic actors. We don’t do this with information, why do we do it with financial information (who holds what wealth and owes whom how much).
- Fnoord 9y ago
  > That said, if you are an adult, maybe it is time to not rely on a third party to be between you and other economic actors. We don’t do this with information, why do we do it with financial information (who holds what wealth and owes whom how much). We are outsourcing (in the literal and figural sense) all the time, including with information. Google, Facebook, and arguably Amazon are examples of us outsourcing information. Even there, self hosting (e.g. Mastodon allows a Facebook/Twitter alternative) has its advantages and disadvantages. People do not take disadvantages seriously until it confronts them.