Re:Google's software mistreats or harms the user
by badrequest on Tuesday August 20, 2019 @01:57PM
(#20749870)
You bring up regulatory controls on banks, but then dismiss them as if most folks would willingly put their money into them if the regulations weren't there. If you'd trust the bank with your money without the regulations, I'd love to send you details about the bank I'm forming.
Re:Google's software mistreats or harms the user
by joshuamorton on Tuesday August 20, 2019 @03:12PM
(#20750813)
You've managed to acknowledge and then ignore the point. You aren't trustworthy. Or maybe you are, but I don't know that. A bank is. There's history of acting, if not ethically, at least not totally unethically, even without government regulations. Wells Fargo, Visa, and Coinbase all have decreasing sets of regulations, but all have more consumer trust than "badrequest".
Re:Google's software mistreats or harms the user
by pessimizer on Tuesday August 20, 2019 @04:25PM
(#20751682)
> There's history of acting, if not ethically, at least not totally unethically, even without government regulations.
I do not believe that this is a thing that is true. There is no well-known history of ethical unregulated banks.
Re:Google's software mistreats or harms the user
by joshuamorton on Tuesday August 20, 2019 @04:34PM
(#20751784)
Like I said, not ethically, but not totally unethically: they'll absolutely try to rip you off, but they won't just steal your money.
Re:Google's software mistreats or harms the user
by TeMPOraL on Tuesday August 20, 2019 @05:29PM
(#20752404)
In the world of cryptocurrencies, everything to the "less regulation" side of Coinbase actually did steal your money.
Re:Google's software mistreats or harms the user
by jcranberry on Tuesday August 20, 2019 @03:12PM
(#20750808)
I don't see where he made any such dismissal.
Re:Google's software mistreats or harms the user
by skybrian on Tuesday August 20, 2019 @10:27PM
(#20754096)
I certainly don't mean to dismiss financial regulation. It's an important reason why today's banks are lower risk than in previous times - at least, for depositors. But people used and trusted banks long before FDIC insurance. (And often, that trust was broken.)
I expect we will see more regulation of the companies storing personal data, along the lines of the GDPR. I don't expect people will stop using the big tech companies to store personal data.
Re:Google's software mistreats or harms the user
by lazyasciiart on Tuesday August 20, 2019 @03:07PM
(#20750747)
Most folks, maybe not. Everyone who's ever used bitcoin though....
It's questionable whether Google deserves similar trust as a bank since they aren't regulated in a similar way. But it isn't unusual for people to trust companies over friends for some things, such as their life savings.
The other thing to remember is that trust can be partial. For example, I wouldn't trust a bank not to be looking for legal ways to charge me fees and I wouldn't trust their investment advice, but I'd trust them to keep their ATM's working and not to lose my money.