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> Our banking system certainly leaves a lot to be desired but I’d take Bank of America over Facebook pretending to be a bank 100% of the time Facebook isn't pr
by gridlockd 7y ago
> Our banking system certainly leaves a lot to be desired but I’d take Bank of America over Facebook pretending to be a bank 100% of the time
Facebook isn't pretending to be bank. Facebook is pretending to be a payment processor. What's the big deal?
Nobody is telling you to put all your savings into a centralized cryptocurrency, especially considering you're a US citizen with access to relatively good banking system.
- elliekelly 7y agoName one payment processor that (1) doesn’t require users link a bank account, (2) takes deposits, and (3) issues a token in their own denomination based on those deposits that’s pegged to a mystery “diversified global currency reserve” to be invented at a later date/altered to suit Facebook’s needs. It kind of sounds like it’s a money market account to me. Minus all the pesky regulation, of course. Like the required banking license to offer those in the US.