Bank of America just lost all Zelle transfers, for many customers

Re:Bank of America just lost all Zelle transfers, for many c... by Karunamon on Wednesday January 18, 2023 @02:08PM (#34431391)

To grok something and to utilize something are two entirely different levels of understanding and it is not honest to conflate the two; most people don't grok the existing financial infrastructures either.

[ Parent | on HN ]

Re:Bank of America just lost all Zelle transfers, for many c... by cptskippy on Wednesday January 18, 2023 @03:50PM (#34432895)

Grok was the wrong word then. I wasn't conflating the two but rather emphasizing that the amount of cognitive load needed to utilizing crypto in our society is far higher than what's needed to use a cash, bank card, or even credit.

[ Parent | on HN ]

Re:Bank of America just lost all Zelle transfers, for many c... by Karunamon on Wednesday January 18, 2023 @05:54PM (#34434292)

I disagree. At least from the standpoint of the average end-user; sending or receiving a payment with a mainstream cryptocurrency is not meaningfully more difficult than doing that with something like PayPal or Cashapp. Different, but not more difficult.

And this is with a wallet where you control your own keys. If you use a centralized site like Coinbase then is basically indistinguishable from something like those other apps.

[ Parent | on HN ]