5 ms·

When paypal/banks put a temporary hold on transactions is that fraud? Binance is reputable among those who use it.

JumpCrisscross 5y ago
> When paypal/banks put a temporary hold on transactions is that fraud? A bank halting withdrawals would be shut down. Massive difference between putting a hold on an account and freezing across the board. And for good reason. From the outside, it’s impossible to determine if they’re having liquidity or operational issues. Let that question fester and you get a run.
- cblconfederate 5y ago
  temporarily. Paypal sometimes withholds funds to check some transactions. They are legally a bank in europe.
  - JumpCrisscross 5y ago
    > temporarily A bank temporarily halting withdrawals may not be shut down, but it would be massively fined.
    - cblconfederate 5y ago
      https://www.reuters.com/article/us-eu-banks-deposits-idUSKBN1AD1RS https://www.reuters.com/article/us-eu-banks-deposits-idUSKBN... https://www.investopedia.com/articles/markets-economy/082316/3-reasons-banks-can-freeze-your-account.asp https://www.investopedia.com/articles/markets-economy/082316... https://www.irishtimes.com/life-and-style/homes-and-property/spanish-banks-freezing-foreign-accounts-1.940940 https://www.irishtimes.com/life-and-style/homes-and-property... Anyway , i ve been burnt by banks enough in the past to know that binance is better than banks. I can't be preached about it.
      - JumpCrisscross 5y ago
        Right, public consultations by governments to consider it. Versus the banks just doing it.
    - marcofatica 5y ago
      Banks halt funds every day, when they close for business at end of day. ATMs are available but can be out of order or out of cash. Binance is open 24/7 and maintenance that requires downtime has to happen at some point
  - jtbayly 5y ago
    For all its users At once?
    - cblconfederate 5y ago
      no, except catastrophic situations like bank collapses or when the EU decided to close the banks. It also can happen in various countries around the world. Then again, binance is an exchange, not a bank, and exchanges do halt transactions. Some companies even freeze people's buy buttons, and go unpunished.
kabdib 5y ago
An across-the-board stoppage seems far, far different than a small set of account holds on an individual basis.

> When paypal/banks put a temporary hold on transactions is that fraud? A bank halting withdrawals would be shut down. Massive difference between putting a hold on an account and freezing across the board. And for good reason. From the outside, it’s impossible to determine if they’re having liquidity or operational issues. Let that question fester and you get a run.

cblconfederate 5y ago
temporarily. Paypal sometimes withholds funds to check some transactions. They are legally a bank in europe.
- JumpCrisscross 5y ago
  > temporarily A bank temporarily halting withdrawals may not be shut down, but it would be massively fined.
  - cblconfederate 5y ago
    https://www.reuters.com/article/us-eu-banks-deposits-idUSKBN1AD1RS https://www.reuters.com/article/us-eu-banks-deposits-idUSKBN... https://www.investopedia.com/articles/markets-economy/082316/3-reasons-banks-can-freeze-your-account.asp https://www.investopedia.com/articles/markets-economy/082316... https://www.irishtimes.com/life-and-style/homes-and-property/spanish-banks-freezing-foreign-accounts-1.940940 https://www.irishtimes.com/life-and-style/homes-and-property... Anyway , i ve been burnt by banks enough in the past to know that binance is better than banks. I can't be preached about it.
    - JumpCrisscross 5y ago
      Right, public consultations by governments to consider it. Versus the banks just doing it.
  - marcofatica 5y ago
    Banks halt funds every day, when they close for business at end of day. ATMs are available but can be out of order or out of cash. Binance is open 24/7 and maintenance that requires downtime has to happen at some point
- jtbayly 5y ago
  For all its users At once?
  - cblconfederate 5y ago
    no, except catastrophic situations like bank collapses or when the EU decided to close the banks. It also can happen in various countries around the world. Then again, binance is an exchange, not a bank, and exchanges do halt transactions. Some companies even freeze people's buy buttons, and go unpunished.

kabdib 5y ago

An across-the-board stoppage seems far, far different than a small set of account holds on an individual basis.