5 ms·
I haven't heard of a single case where a German bank customer lost his or her money because the bank did something fishy.
by ManuelKiessling 5y ago
I haven't heard of a single case where a German bank customer lost his or her money because the bank did something fishy.
- capableweb 5y agoFortunately, there are more countries than Germany, and some of them have a very fragile banking ecosystem that many people would like to avoid taking a part of. Just as one example, remember the Greece bank run some years ago? The banks ended up implementing limits on how much you could withdraw each month, which frustrated many people. I'd say that's pretty fishy when the banks give the impression that the money you put into the bank, you'll for sure be able to get out whenever you want.
- amarant 5y agoYeah that Greek incident wasn't great. Still a lot better than when the biggest crypto exchange of Turkey just left with all the money that one time. That was catastrophic for many customers!
- daniel-cussen 5y agoWell, right, banks generally work as intended. It's just they blow up sometimes. The oldest bank up until the 80's was Baring Brothers and they were so respectable, just so respectable, and then they collapsed by doing fishy things. The worse thing is, conditions can change very rapidly and you may no longer be able to withdraw your money for a few months while the currency is being devalued (like Argentina), or all the banks might start blowing up at the same time (United States, Chile in the 80s), or you might get invaded (will the bank's security save the day?), or the bankers might not be cut out to be bankers (I know a bank with 4-digit passwords).
- oblio 5y agoIt's good that we're getting alternatives, but they'll have to be regulated. And once we do that, cryptocurrencies doesn't gain us much compared to traditional banking. I do appreciate the optimism, though!