/biz/ - Business & Finance

[Anonymous No.53432792]

It's funny because it's true.

[Anonymous No.53432830]

This is why crypto will never be mass adopted.
Imagine the average normie paying for his house in BTC to the wrong address and everyone doing pic related

[Anonymous No.53432834]

>>53432792
>Being that retarded
I bought my house last year and they warn you about sending money to the wrong account so many times you've got to be actually brain dead to get it wrong. You get the details for the closing house and the exact dollar amount to send and then you work with your local bank branch to transfer over.

[Anonymous No.53432840]

that's not how it would work in reality

[Anonymous No.53432862]

>>53432792
bait

if not, glowie shilling the fed or just dumb af, this never happens ffs.

Crypto was never meant for normies anyway

[Anonymous No.53432889]

>>53432792
It's funny because it's not true and may actually not be reversible without going to court.

[Anonymous No.53432893]

>>53432792
>I am a dumb roastie thihihi
>Everyone else needs to be subdued because I'm incompetent

[Anonymous No.53432962]

>>53432792
Holy hell what is wrong with women? That's like turbo autism match the routing number 10 times kind of situation.

[Anonymous No.53432970]

>>53432792
funny because it doesn't work that way universally
most banks won't and afaik there's no law that requires them to do so

[Anonymous No.53433002]

Nobody is forcing you to use Bitcoin though lmao. Central authorities are great when you need them but you should be free to transact how you want.

[Anonymous No.53433022]

>>53432862
Cope Nigger I bet you're underage zoomer get in the reality faggot

[Anonymous No.53433030]

>>53432834
And they use the numbers on the wire instructions document because they don't even trust you to write them down correctly. Then the bank clerk checks everything and you check it all again. I don't know how she could fuck it up unless she is lying on the internet.

[Anonymous No.53433084]

>>53432792
The problems is there are too many retards with a high standard of living. Crypto solves that.

[Anonymous No.53433101]

>>53432889
>>53432970
>try to make transfer
>bank calls you
>"You sure this is correct?"
>"no lol"
>transaction cancelled

or

>make transfer
>realize you made a mistake
>contact bank
>freeze or cancel operation
>if it's too late, legally notify the recipient (the bank will be forced to disclose the identity of the wrong account's holder)
>the recipient cannot prove they are entitled to the money and you have proof you made a wrong transfer due to the contract of sale/purchase you have
>if the recipient won't return the money, then he will be forced to do so and you can press charges for theft/embezzlement/peculate

You can't do any of this with cryptoshit.

[Anonymous No.53433131]

>>53433101
Look up faster bank transfer in UK. Its not reversible without permission from the receiver.

[Anonymous No.53433146]

The future of finance

[Anonymous No.53433154]

>>53432792
>i'm too stupid to double check my work when i wire 80% of my net worth lol good thing other people are watching me like a 3 year old nigger baby

[Anonymous No.53433164]

>>53432792
(((Sloane)))

[Anonymous No.53433175]

>>53433131
>if it's too late, legally notify the recipient (the bank will be forced to disclose the identity of the wrong account's holder)
>the recipient cannot prove they are entitled to the money and you have proof you made a wrong transfer due to the contract of sale/purchase you have
>if the recipient won't return the money, then he will be forced to do so and you can press charges for theft/embezzlement/peculate

[Anonymous No.53433188]

>>53433101
>make faggot jew politician angry
>he calls up his kike relative in the Dept of Treasury
> they drain your bank account

[Anonymous No.53433192]

>>53433022
seething wage slave

[Anonymous No.53433195]

>>53432792
>woman
>can’t perform basic tasks

No verification needed

[Anonymous No.53433209]

>>53432792
Crypto transactions aren't bank transfers. They're contracts. If you sign an unconditional contract to give 400 USD to someone and they turn out to not be the person you intended to give the money to, too fucking bad. That shit is binding and a judge will look at you like you're a retard if you try to fight it.
Cryoto is contracts which are automatically executed. Don't sign contracts you don't fully understand. There are no givesies backsies in contract law or cryoto.

[Anonymous No.53433214]

>>53432792
>I am so retarded I need people to keep my retardedness in check or else I would be so retarded that I fuck my life up. Thereby, everyone needs to be retard taxed like me.

[Anonymous No.53433243]

>>53432792
>"based banks"
>Slatkin was born in Los Angeles to a Jewish

[Anonymous No.53433286]

>>53433214
probably sums up the entirety of the downfall of modernity, the retard tax.
>>53433243
of course

[Anonymous No.53433375]

>>53433192
>seething wage slave
Project harder

[Anonymous No.53433427]

>>53433101
If they can reverse your accidental mistakes, they also have the power to reverse any other transactions to or from your account, even if you are the rightful owner of the funds.

[Anonymous No.53433495]

>>53433209
>There are no givesies backsies in contract law
Yes, there is. A void clause does not invalidate or bind the whole contract. If the clause containing the bank address you are supposed to transfer to was a mistake from both parties, then it's a simple mistake that can be rectified.

If, for the sake of the argument, you had a contract for the sale of a house, and everywhere in your contract and your talks you and the seller were clearly dealing with the sale and transfer of ownership of a house, and at some point in the contract there's a tiny surreptitious clause stating that the contract is actually a "leasing contract for an indeterminate amount of time and the seller can terminate it any moment", and you take that to court, no judge will consider that clause to valid. And there's good odds the seller is getting dicked with fines, court costs and damages due to clear and unmistakable bad faith.

t. lawyer

[Anonymous No.53433497]

>>53432830
You can still have private blockchains to implement rescinding transactions. It's likely that banks will issue digital currencies and back them by other crypto (ETH or BTC or whatever or a basket of assets) so that the masses have access to crypto in a restricted and retard-proof manner.

[Anonymous No.53433521]

>>53432792
using crypto is like having sex without a condom - it's your responsibility if you fuck up. if you want someone to hold your hand use exchanges. also, if crypto was mass adopted the blockchain itself would be used as a settlement layer which would be controlled by whatever system one would use to transact and that system would have multiple safety mechanisms because the average joe is retarded.

[Anonymous No.53433538]

faggot thread made by faggot rat lawyer
meaningless

[Anonymous No.53433602]

Then why didn't the banks stop my grandma from wiring 20k to a scammer pretending to be her grandson stuck in a Mexican prison? That money is gone forever even though she told the bank it was a mistake less than an hour after she transferred and realized to call and ask someone else about it.

[Anonymous No.53433636]

>>53432792
>woman is careless with enormous sums of money
>Thanks jews! Man I'm glad I have you around to protect me from being a fucking moron while raping me at the same time!

Fuck women

[Anonymous No.53433654]

>>53433101
>try to make transfer
>bank calls you
never happened
not even once
what possible incentive could you have for misrepresenting the actual reality of things
i have however made a transfer to the wrong account, phoned the bank and been told 'sorry, can't help you'
you flaming faggot

[Anonymous No.53433671]

>>53433602
Because you need consent of the recipient to return the funds, which they obviously won't give. Other than that, you'd need a court order, which is almost impossible to do in a timely manner, since scammers tend to withdraw the money very fast. You'd have a window of hours at most.

Still, you can sue the bank for failing to protect you as client, depending on the consumer's laws in your country, especially your grandma, considering her age, there's very good odds of getting a favorable ruling.

[Anonymous No.53433691]

>>53432830
this desu

[Anonymous No.53433702]

>things that never happened
also:
>>53433538


OP
apologize for your thread or your mother dis in her sleep tonight

[Anonymous No.53433708]

>>53433495
I assumed a valid contract (and included the example of a straightforward promise of payment), not one which wouldn't hold in court.
Trying to execute an invalid legal contract can, after much frustration and expense, be resolved through court and a rational judge. Trying to execute an invalid cryoto contract will immediately fail with only the execution fee being lost.

[Anonymous No.53433728]

>>53433654
You’ve never had a bank preemptively freeze a suspicious transaction before?

[Anonymous No.53433730]

>>53433654
Because you're a big city faggot or poorfag.

If you make a sufficiently big transfer, the bank MAY call you if it's a small town and you're known OR if you're an important client of the bank.

There's usually no such obligation though, and some transfer mechanisms are impossible to freeze or reverse, like Faster Payment in UK and maybe Fednow in the US.

[Anonymous No.53433755]

>>53432893
This but in actuality it's not hard to build a construct on top of crypto for such escrow needs. Just like how long ago maybe you would downpay in cash. I want to kill her

[Anonymous No.53433759]

>>53433728
can't you read?
>not even once
i have never been on the phone with my bank
they have never called me
i have never called them
they don't even have my real phone number

[Anonymous No.53433764]

>>53432792
Unregulated crypto still works fine for people above 40 IQ though.
We'll figure something for the rest of them eventually.

[Anonymous No.53433780]

>>53432830
Or because its so volatile you'll be paying a different price for every purchase

[Anonymous No.53433841]

>>53433780
>Or because its so volatile(real estate) you'll be paying a different price for every purchase