4 ms·

If a phone can make calls, send texts, read emails, and take pictures it already covers 98% of my use cases.

by alnwlsn 5mo ago

contubernio 5mo ago
Banking basically has to be done via phone now.
- ryandrake 5mo ago
  Maybe I am lucky in the USA, but every bank I’ve ever done business with can be accessed through a PC and web browser. If any of my banks should decide to remove that option, I just move over to one of the other thousands of banks in the USA.
  - SoftTalker 5mo ago
    That or you can simply go in to a branch office.
- vitaflo 5mo ago
  Find a better bank I guess. I’ve never used my phone for banking of any kind ever.
  - azzentys 5mo ago
    Sadly, that's not a great answer where most banks are going towards the same direction. It's also convenient to use a phone for banking.
  - multjoy 5mo ago
    The only time I go into a bank is to deposit cash, and that is very rare. I have no idea why people think in-person banking is superior, it is a pain in the arse. That said, my bank predates all the fintechs by decades and was phone-first before smartphones.
  - contubernio 5mo ago
    I am in Spain. It's universal to use mobile device for almost all banking this is common in Europe.
- y-c-o-m-b 5mo ago
  I keep seeing this, but I've never signed into a single one of my banks, mortgage companies, stock brokers, or credit card companies on my phone. The phone might be used to get a code for 2FA via text, but that's the extent of it. Everything is done on my PC through a dedicated browser specifically for financial purposes. This applies to Chase, Fidelity, Schwab, Wells Fargo, Marcus, Morgan Stanley, Amex, and more. So theoretically there's no reason a Linux OS on a phone can't do any of these things without Google or Apple by simply masquerading as a PC.
  - microtonal 5mo ago
    I think the disconnect comes from the European vs the US perspective. In Europe, banks in many countries require smartphone apps for 2FA (unless you still have one of the old authenticators that you can hold on until the battery dies). One of the reasons is that PSD2 requires two-factor authentication: https://www.betaalvereniging.nl/en/knowledge-base/digital-identity/two-factor-authentication/ https://www.betaalvereniging.nl/en/knowledge-base/digital-id... My guess is that given that banks are liable in many cases of account compromise where the user did not do anything wrong, they generally don't use SMS or e-mail auth because it is relatively easy to compromise (e.g. no or bad encryption, downgrade attacks, etc). Also, doing 2FA through a smartphone app is much cheaper for them than keeping a fleet of authenticators running. Luckily, it looks like PSD3 is going to require access without a smartphone too: Require payment services providers to ensure that all users can benefit from methods to perform SCA which are adapted to their needs and situations and, in particular, that those methods do not depend on one single technology, device or mechanism, for instance on the possession of a smartphone. https://ec.europa.eu/commission/presscorner/detail/el/qanda_23_3544 https://ec.europa.eu/commission/presscorner/detail/el/qanda_... So things are looking up in that respect.
    - frm88 5mo ago
      TIL about PSD3. Thank you.
echelon 5mo ago
Bad analogy, but it will rhyme: If a country can provide housing, roads, fire departments, public transit, etc. that might cover 98% of most people's use cases. But perhaps that country is also fighting wars, committing genocide, perpetrating mass surveillance, propping up an oligarchy, manipulating currency, practicing authoritarianism, etc. ? There might be points that need to be made and changes that need to be implemented, even if the average citizen or user doesn't directly see the impact or feel immediate exposure. One of the reasons this is hard is that the general public doesn't understand the greater second and third order effects. And even if they do, they are typically inarticulate at expressing how this is dysregulated and dysfunctional to the broader economy and capitalism. Luckily, there are plenty of very wealthy people that are disenfranchised by this that will loudly take up arms. Domestic competitors, business leaders, other impacted industries, etc. That's how and why this will change. Tim Sweeney isn't the only one interested in this.
fg137 5mo ago
If you never hang out with friends and pay them via a QR code, sure.
- snypher 5mo ago
  I know I live in Oregon or whatever but a lot of people use cash.
  - bix6 5mo ago
    I thought y’all just bartered with rhododendrons and cutthroat
    - tadfisher 5mo ago
      Chinook salmon actually
  - tensor 5mo ago
    "I live in a place that hasn't seen progress and still uses physical cash." Isn't really useful to those of us who live in places that don't even use cash. Also, I don't really want to go back to using physical cash thanks.
    - tadfisher 5mo ago
      Progress, as in, you've gained the privilege of third parties tracking every payment and every bill you've split with friends, sure. Let's be realistic; payment services are convenient, but not advantageous in every single way.
      - tensor 5mo ago
        I don’t have an issue with my bank tracking my purchases. In fact I like it. Not everyone wants to live in a constant state of looking over your shoulder. If we’ve reached that point the problem is not the banks, but the other parties. Going back to old technology is not a solution I want. Regulating the problem areas would be better.
zombot 5mo ago
Enjoy being the lucky minority while it lasts.

If a phone can make calls, send texts, read emails, and take pictures it already covers 98% of my use cases.

by alnwlsn 5mo ago

If a phone can make calls, send texts, read emails, and take pictures it already covers 98% of my use cases.

contubernio 5mo ago

Banking basically has to be done via phone now.

ryandrake 5mo ago
Maybe I am lucky in the USA, but every bank I’ve ever done business with can be accessed through a PC and web browser. If any of my banks should decide to remove that option, I just move over to one of the other thousands of banks in the USA.
- SoftTalker 5mo ago
  That or you can simply go in to a branch office.
vitaflo 5mo ago
Find a better bank I guess. I’ve never used my phone for banking of any kind ever.
- azzentys 5mo ago
  Sadly, that's not a great answer where most banks are going towards the same direction. It's also convenient to use a phone for banking.
- multjoy 5mo ago
  The only time I go into a bank is to deposit cash, and that is very rare. I have no idea why people think in-person banking is superior, it is a pain in the arse. That said, my bank predates all the fintechs by decades and was phone-first before smartphones.
- contubernio 5mo ago
  I am in Spain. It's universal to use mobile device for almost all banking this is common in Europe.
y-c-o-m-b 5mo ago
I keep seeing this, but I've never signed into a single one of my banks, mortgage companies, stock brokers, or credit card companies on my phone. The phone might be used to get a code for 2FA via text, but that's the extent of it. Everything is done on my PC through a dedicated browser specifically for financial purposes. This applies to Chase, Fidelity, Schwab, Wells Fargo, Marcus, Morgan Stanley, Amex, and more. So theoretically there's no reason a Linux OS on a phone can't do any of these things without Google or Apple by simply masquerading as a PC.
- microtonal 5mo ago
  I think the disconnect comes from the European vs the US perspective. In Europe, banks in many countries require smartphone apps for 2FA (unless you still have one of the old authenticators that you can hold on until the battery dies). One of the reasons is that PSD2 requires two-factor authentication: https://www.betaalvereniging.nl/en/knowledge-base/digital-identity/two-factor-authentication/ https://www.betaalvereniging.nl/en/knowledge-base/digital-id... My guess is that given that banks are liable in many cases of account compromise where the user did not do anything wrong, they generally don't use SMS or e-mail auth because it is relatively easy to compromise (e.g. no or bad encryption, downgrade attacks, etc). Also, doing 2FA through a smartphone app is much cheaper for them than keeping a fleet of authenticators running. Luckily, it looks like PSD3 is going to require access without a smartphone too: Require payment services providers to ensure that all users can benefit from methods to perform SCA which are adapted to their needs and situations and, in particular, that those methods do not depend on one single technology, device or mechanism, for instance on the possession of a smartphone. https://ec.europa.eu/commission/presscorner/detail/el/qanda_23_3544 https://ec.europa.eu/commission/presscorner/detail/el/qanda_... So things are looking up in that respect.
  - frm88 5mo ago
    TIL about PSD3. Thank you.

echelon 5mo ago

Bad analogy, but it will rhyme: If a country can provide housing, roads, fire departments, public transit, etc. that might cover 98% of most people's use cases. But perhaps that country is also fighting wars, committing genocide, perpetrating mass surveillance, propping up an oligarchy, manipulating currency, practicing authoritarianism, etc. ? There might be points that need to be made and changes that need to be implemented, even if the average citizen or user doesn't directly see the impact or feel immediate exposure. One of the reasons this is hard is that the general public doesn't understand the greater second and third order effects. And even if they do, they are typically inarticulate at expressing how this is dysregulated and dysfunctional to the broader economy and capitalism. Luckily, there are plenty of very wealthy people that are disenfranchised by this that will loudly take up arms. Domestic competitors, business leaders, other impacted industries, etc. That's how and why this will change. Tim Sweeney isn't the only one interested in this.

fg137 5mo ago

If you never hang out with friends and pay them via a QR code, sure.

snypher 5mo ago
I know I live in Oregon or whatever but a lot of people use cash.
- bix6 5mo ago
  I thought y’all just bartered with rhododendrons and cutthroat
  - tadfisher 5mo ago
    Chinook salmon actually
- tensor 5mo ago
  "I live in a place that hasn't seen progress and still uses physical cash." Isn't really useful to those of us who live in places that don't even use cash. Also, I don't really want to go back to using physical cash thanks.
  - tadfisher 5mo ago
    Progress, as in, you've gained the privilege of third parties tracking every payment and every bill you've split with friends, sure. Let's be realistic; payment services are convenient, but not advantageous in every single way.
    - tensor 5mo ago
      I don’t have an issue with my bank tracking my purchases. In fact I like it. Not everyone wants to live in a constant state of looking over your shoulder. If we’ve reached that point the problem is not the banks, but the other parties. Going back to old technology is not a solution I want. Regulating the problem areas would be better.

zombot 5mo ago

Enjoy being the lucky minority while it lasts.