5 ms·
P2P banks, 1 line of code
- Zombieball 14y agoI've got to remember this marketing spin. "A curl to an http endpoint with a plethora of parameters" == Only 1 line of code!
- RegEx 14y agoIt's similar to many jQuery plugins I've seen. "LOOK, you can do all this with one line of code!" $("#mydiv").someplugin(); But then they show all the HTML adjustments you have to make to get the plugin functioning. Just tell me straight! But, credit to the author, I always like seeing how people use the command line to accomplish things. One day, I'd like to make a "get_subs" command that orders Jimmy Johns for me.
- jareau 14y agoWe (Balanced - YC W11) did the same thing :/. We'll I guess we called it a single curl command not a single line of code: http://news.ycombinator.com/item?id=5026802 http://news.ycombinator.com/item?id=5026802
- joshguthrie 14y agoBecause curl and a command line with 13 "arguments" is so much easier to use than a website.
- EvanAnderson 14y agoBecause writing a program to simulate a person using a web site is so much easier to do than calling an API.
- mxxx 14y agoer, what? this is an API for developers, not an out-the-box solution for clients.
- hayksaakian 14y ago1 line of code in marketing speak.
- sejje 14y agoConveniently arranged here in our article in 15 lines!
- gfunk911 14y agoNot sure why all the comments here are harping on the "one line" thing. The point is that you can transfer money with one command and no pre-existing state. That's pretty great.
- lisper 14y agoAnd no security. That's not so great. EDIT: What I mean by this is that if you give me your account number so that I can deposit into it, then I can also withdraw out of it (not through the Dwolla API, but trivially by other means -- see http://perimetergrid.com/wp/2008/01/01/checks-the-most-dangerous-transaction/ http://perimetergrid.com/wp/2008/01/01/checks-the-most-dange...)
- makmanalp 14y agoThis is an inherent flaw in the system though, right? Not anything new.
- lisper 14y agoNot quite. This makes ACH more accessible than it was before, which makes it that much easier to commit ACH fraud. Also, it is possible to layer a secure layer on top of ACH, but Dwolla didn't do that. They either chose not to, or they don't know how. They just exposed the ACH functionality directly.
- Firehed 14y agoIt's a problem with ACH in general. However, debits from consumer accounts (or, more accurately, those initiated with a "PPD" code) can be refuted for something like two years. By submitting a file straight to the networks, I could also debit a nonexistent account for $20m and have it show up in my account the next morning. Wouldn't hang around for long though.
- lisper 14y agoYou can always refute it. Whether you'll get your money back or not is an entirely different matter. The consumer protections on ACH are much weaker than credit cards, so it's pretty much up to the discretion of your bank.
- felipelalli 14y agoI prefer Bitcoin
- jamoes 14y agoIt's not really "P2P" if it's going through a central authority...
- NegativeK 14y agoP2CA2P? If only "2CA" was an identity.
- shtylman 14y agoyay, easier fraud and still no guarantees against chargebacks or merchant protections
- alttab 14y ago1. Create fraudulent product page with billing form. 2. Add 1 line of code 3. ... 4. Profit!
- shousper 14y agoIs anyone else annoyed at the mix of parameter naming conventions, or is it just me? (e.g. client_id, emailAddress, client_secret, firstName).
- paulnechifor 14y agoIf by mixing conventions you mean careless foul practice of trying to please everyone by partially satisfying all of their preferences which only ends up annoying them all, then I am certainly against it. But, if by mixing conventions you mean the joyous unsegregated joining of every person's vision into a creation that is greater than the sum of its parts, then I am certainly for it. This is my stand. I will not retreat from it. I will not compromise.
- drhouse_md 14y agoWhat an insufferably obnoxious response.
- martinced 14y agoBruce Schneier would be proud. It's good to see the world catching up and putting the emphasis on security. [/sarcasm]
- Hansi 14y agoHow is this different from saying that communication via Switft messages is really only one line of code at the end that's important?
- utunga 14y agoLooking for where someone mentions http://www.opentransact.org http://www.opentransact.org but can't find it so I'll mention it.
- DerCed 14y ago"No, at this time Dwolla is only available for use within the United States." That is unfortunate, would have liked to try it out.
- deweller 14y agoI'm waiting for someone to create a service on top of this. Think Stripe for ACH transfers. I badly want to use this but the required BSA/AML and CIP compliance are too much for my startup. I would gladly pay someone to handle this compliance and just let me call an API.
- mahmoudimus 14y agoBalanced is discussing this here: https://github.com/balanced/balanced-api/issues/2 https://github.com/balanced/balanced-api/issues/2 We're thinking we'll have a beta in a few weeks time.