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> "being your own bank" is actually a terrifying and merciless burden It's amazing how many smart people take so long to realize why banks exist.
by jonny_eh 5y ago
> "being your own bank" is actually a terrifying and merciless burden
It's amazing how many smart people take so long to realize why banks exist.
- sneak 5y agoIt’s also amazing how many smart people are completely ignorant of the common and routine failure modes of banks, and why hundreds of millions of people might want an alternative to that. I just had to physically cross an ocean twice because my bank won’t send wires for more than $25k via their website, and that’s one of the gentler failure modes. Here are some examples: https://old.reddit.com/r/fatFIRE/comments/pycgjx/what_in_the_actual_eff_is_going_on_with_bank/ https://old.reddit.com/r/fatFIRE/comments/pycgjx/what_in_the... Retail banking in the USA is terrible.
- max-ibel 5y agoIt's really similar to running your own email server.