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So we're shutting down all ATMs because one guy had a ten-dollar bill stuck in the slot?

by marban 4y ago

llamajams 4y ago
323 4y ago
Yes. UK 2018 TSB bank IT meltdown shutdowns all accounts for weeks: > With clients locked out of their bank accounts, mortgage accounts vanishing, small businesses reporting that they could not pay their staff and reports of debit cards ceasing to work, the TSB Bank computer crisis of April 2018 has been one of the worst in recent memory. The bank’s CEO, Paul Pester, admitted in public that the bank was “on its knees” and that it faces a compensation bill likely to run to tens of millions of pounds. https://www.henricodolfing.com/2019/03/case-study-epic-meltdown-of-tsb-bank.html https://www.henricodolfing.com/2019/03/case-study-epic-meltd...
- ceejayoz 4y ago
  > faces a compensation bill likely to run to tens of millions of pounds I'm guessing Binance doesn't.
  - ClumsyPilot 4y ago
    Yep, thats the all important distinction in the fine print
criddell 4y ago
You see, like ̶A̶l̶ ̶G̶o̶r̶e̶ Ted Stevens said, it's really all a series of tubes. You put ten dollars in and it gets whisked away to a centralized location. Unfortunately, the location of the stuck tenner is right at the junction where all ATM transactions pass through. It's an unanticipated feature of our new centralized system. To complain, please fill out form 27-B-stroke-six.
- swills 4y ago
  I appreciate the Brazil reference, and I imagine few do these days.
  - jackcosgrove 4y ago
    If the tubes had been made of flex-duct this never would have happened.
  - retcon 4y ago
    I blamed a bureaucratic SNAFU that other day on Central Services and was taken literally. This just now frightened me...
  - Agamus 4y ago
    My team was once described as the "Harry Tuttle" of the company by a VP - it was one of the happiest moments of my life.
- frob 4y ago
  The "series of tubes" comment was Alaska Senator Ted Stevens, not Al Gore. "Ten movies streaming across that, that Internet, and what happens to your own personal Internet? I just the other day got... an Internet [email] was sent by my staff at 10 o'clock in the morning on Friday. I got it yesterday [Tuesday]. Why? Because it got tangled up with all these things going on the Internet commercially. [...] They want to deliver vast amounts of information over the Internet. And again, the Internet is not something that you just dump something on. It's not a big truck. It's a series of tubes. And if you don't understand, those tubes can be filled and if they are filled, when you put your message in, it gets in line and it's going to be delayed by anyone that puts into that tube enormous amounts of material, enormous amounts of material."
  - ejb999 4y ago
    Yea, AL Gore only claimed to have created the internet: "I took the initiative in creating the Internet." - Al Gore, 3/9/1999
deleted 4y ago
[deleted]
malikNF 4y ago
You do realize this is not something that's unique to the crypto space. [1][2] Seriously dislike this attitude some folks on HN has about crypto, yes there's massive fraudsters and there's lots of technical issues in this space. But so is most other spaces, fraudsters and criminals didn't happen to suddenly pop up after 2009 you know, they have been here always, everywhere. There's valid uses for crypto and the blockchain, I personally know several folks who were able to move away from war zones with some of their wealth intact thanks to crypto. I know people who send money to their parents back home thanks to crypto, minus the ridiculous fees predatory companies were charging them to send fiat before. Its not all roses sunshine and butterflies, but there's real people who are benefiting from this tech. [1]https://www.bleepingcomputer.com/news/security/canadas-major-banks-go-offline-in-mysterious-hours-long-outage/ https://www.bleepingcomputer.com/news/security/canadas-major... [2]https://www.google.com/search?q=Bank+system+outage&source=lnms&tbm=nws&sa=X&ved=2ahUKEwibtbHWzqr4AhX9IzQIHSsHAf0Q_AUoAXoECAEQAw&biw=1920&bih=968&dpr=2 https://www.google.com/search?q=Bank+system+outage&source=ln...
- belltaco 4y ago
  Did that coincide with a huge drop in the value of the Canadian dollar and happen to stop people selling CAD for other currencies like USD? Didn't think so. Your point would be more valid if that were true. >yes there's massive fraudsters and there's lots of technical issues in this space. But so is most other spaces, fraudsters and criminals didn't happen to suddenly pop up after 2009 you know, they have been here always, everywhere The disdain of regulation that cryptobros have and the lack of regulation results in a free for all for fraudsters and criminals, compared to regular banking/finances.
- lern_too_spel 4y ago
  All of your benefits are due to the fact that cryptocurrencies aren't regulated yet. That isn't a technological benefit.

So we're shutting down all ATMs because one guy had a ten-dollar bill stuck in the slot?

by marban 4y ago

So we're shutting down all ATMs because one guy had a ten-dollar bill stuck in the slot?

llamajams 4y ago

323 4y ago

Yes. UK 2018 TSB bank IT meltdown shutdowns all accounts for weeks: > With clients locked out of their bank accounts, mortgage accounts vanishing, small businesses reporting that they could not pay their staff and reports of debit cards ceasing to work, the TSB Bank computer crisis of April 2018 has been one of the worst in recent memory. The bank’s CEO, Paul Pester, admitted in public that the bank was “on its knees” and that it faces a compensation bill likely to run to tens of millions of pounds. https://www.henricodolfing.com/2019/03/case-study-epic-meltdown-of-tsb-bank.html https://www.henricodolfing.com/2019/03/case-study-epic-meltd...

ceejayoz 4y ago
> faces a compensation bill likely to run to tens of millions of pounds I'm guessing Binance doesn't.
- ClumsyPilot 4y ago
  Yep, thats the all important distinction in the fine print

criddell 4y ago

You see, like ̶A̶l̶ ̶G̶o̶r̶e̶ Ted Stevens said, it's really all a series of tubes. You put ten dollars in and it gets whisked away to a centralized location. Unfortunately, the location of the stuck tenner is right at the junction where all ATM transactions pass through. It's an unanticipated feature of our new centralized system. To complain, please fill out form 27-B-stroke-six.

swills 4y ago
I appreciate the Brazil reference, and I imagine few do these days.
- jackcosgrove 4y ago
  If the tubes had been made of flex-duct this never would have happened.
- retcon 4y ago
  I blamed a bureaucratic SNAFU that other day on Central Services and was taken literally. This just now frightened me...
- Agamus 4y ago
  My team was once described as the "Harry Tuttle" of the company by a VP - it was one of the happiest moments of my life.
frob 4y ago
The "series of tubes" comment was Alaska Senator Ted Stevens, not Al Gore. "Ten movies streaming across that, that Internet, and what happens to your own personal Internet? I just the other day got... an Internet [email] was sent by my staff at 10 o'clock in the morning on Friday. I got it yesterday [Tuesday]. Why? Because it got tangled up with all these things going on the Internet commercially. [...] They want to deliver vast amounts of information over the Internet. And again, the Internet is not something that you just dump something on. It's not a big truck. It's a series of tubes. And if you don't understand, those tubes can be filled and if they are filled, when you put your message in, it gets in line and it's going to be delayed by anyone that puts into that tube enormous amounts of material, enormous amounts of material."
- ejb999 4y ago
  Yea, AL Gore only claimed to have created the internet: "I took the initiative in creating the Internet." - Al Gore, 3/9/1999

deleted 4y ago

[deleted]

malikNF 4y ago

You do realize this is not something that's unique to the crypto space. [1][2] Seriously dislike this attitude some folks on HN has about crypto, yes there's massive fraudsters and there's lots of technical issues in this space. But so is most other spaces, fraudsters and criminals didn't happen to suddenly pop up after 2009 you know, they have been here always, everywhere. There's valid uses for crypto and the blockchain, I personally know several folks who were able to move away from war zones with some of their wealth intact thanks to crypto. I know people who send money to their parents back home thanks to crypto, minus the ridiculous fees predatory companies were charging them to send fiat before. Its not all roses sunshine and butterflies, but there's real people who are benefiting from this tech. [1]https://www.bleepingcomputer.com/news/security/canadas-major-banks-go-offline-in-mysterious-hours-long-outage/ https://www.bleepingcomputer.com/news/security/canadas-major... [2]https://www.google.com/search?q=Bank+system+outage&source=lnms&tbm=nws&sa=X&ved=2ahUKEwibtbHWzqr4AhX9IzQIHSsHAf0Q_AUoAXoECAEQAw&biw=1920&bih=968&dpr=2 https://www.google.com/search?q=Bank+system+outage&source=ln...

belltaco 4y ago
Did that coincide with a huge drop in the value of the Canadian dollar and happen to stop people selling CAD for other currencies like USD? Didn't think so. Your point would be more valid if that were true. >yes there's massive fraudsters and there's lots of technical issues in this space. But so is most other spaces, fraudsters and criminals didn't happen to suddenly pop up after 2009 you know, they have been here always, everywhere The disdain of regulation that cryptobros have and the lack of regulation results in a free for all for fraudsters and criminals, compared to regular banking/finances.
lern_too_spel 4y ago
All of your benefits are due to the fact that cryptocurrencies aren't regulated yet. That isn't a technological benefit.