|30 Mar 2023|
In reply to @chrislas:jupiterbroadcasting.comThis is weird. I wrote something bad about Wells Fargo as an off handed comment somewhere, I don’t remember, and someone called me and wanted to pay me back.
At first I thought it was legitimate, then I thought it was a scam. Then I thought I’ll call Wells Fargo and see if they can tell me. They couldn’t find the department that called me so we both thought it was a scam.
A few days later they called and said it was real. Wells Fargo had promised my spouse that if she kept a minimum balance, I could have a free account with no minimum. Every few months they’d charge my account and we’d inform them and they’d remove the charge. The branch was closed and I just paid monthly after that. I think that was the complaint. They credited my account a few hundred dollars to pay for this and sent me documentation on how they charge for all their accounts which made me angry again.
They need to train their new account managers properly or get rid of new accounts personnel and just hand or mail out documentation.
Anyhow Wells Fargo has paid me probably 4 times, once a few cents, twice under $20 and once about $200. I think about the cost of this department to Wells Fargo. The phone number keeps changing every week or two. I guess when people find out about it, a bunch of people call and get money? I don’t know how many times Wells Fargo has been caught opening multiple accounts for each customer, found guilty and promised not to do this and then goes ahead with the same thing, is it 4?
|greg||* Any of y’all on nostr? Looking for good folks to follow there.||17:17:07|
In reply to @greg:facingheaven.netNot yet, prolly soon now that the hype cycle seems to be simmering down and people are just getting to work building it out.
|HAL9000||SBF in NPR news||18:34:47|
|scottbigbrain||People who run full nodes, are you just using a prebuilt solution like Umbrel or did you install everything yourself? I'm considering building one and want to try installing everything on a linuxbox, but I don't know how much of a time investment that path is||18:51:09|
In reply to @scottbigbrain:matrix.orgI’m one of the least tech here, are you going to run a LN node too?
|HAL9000||A TOR node?||19:18:16|
|scottbigbrain||LN node, yes||19:18:47|
|SirLurksalot||Umbrel has been a great way to get into it. I run mine on an RPi4. But I am planning to replace it with c-lightning on noxos||19:18:59|
|SirLurksalot||Umbrel has been a great way to get into it. I run mine on an RPi4. But I am planning to replace it with c-lightning on nixos "soon as i have the time" ... but it's on the list.||19:19:20|
|HAL9000||The Lightning liquidity is complicated and ongoing, I think?||19:20:20|
|HAL9000||Maybe setup Umbrel to learn a bit then build yourself if you’re still motivated? I believe Umbrel works on x86 too https://umbrel.com/||19:25:26|
|HAL9000||It has lightning too||19:26:05|
|HAL9000||also ask here https://matrix.to/#/#bitcoin-questions:jupiterbroadcasting.com||19:29:33|
In reply to @chrislas:jupiterbroadcasting.com
Molly white counts $12.047bn in defi/crypto loses, but its impressive that a single bank could generate so many fines! Bravo Too Big to Fail!
|SirLurksalot||I think that starting with an Umbrel or similar is a good way to get introduced. But don't put too much money in it to learn stuff. I have about $500 woth of SATs on my node, which is probably a bit more than I really want to loose. I think c-lightning will let me replicate to another database? Not exactly sure, but I heard something along these lines and am interested. There is probably a lot to be said for building it yourself. So I will be doing that next go around. Like Linux, everyone should try the (old) Arch way at least once. Or Gentoo or B/LFS. Building from the ground up is a good way to learn. But Bitcoin and Lightning are enough of a learning curve on their own that it might be a bit much to also try to build from scratch. Dunno.. Your Mileage May Vary, as they say.||19:33:05|
|HAL9000||I still don't understand if 1% or whatever SVB had is bank "run".||19:35:28|
|bdadpod||Pierre interviewed me for this one, I'm really interested to see the full documentary||19:35:36|
|HAL9000||* I still don't understand if 1% withdrawals or whatever SVB had is bank "run".||19:36:53|
In reply to @mooshuxs:matrix.orgIt is when all of your assets are tied up
|HAL9000||i am questioning the legitimacy of the FDIC's motives to take take over SBV and 2 other crypto banks. do they ever publish the details of why they came exactly? I have a hard time believing WAMU needed to be taken down too and merged with, was it Chase? wouldn't it have been better to save it?||19:42:54|
|HAL9000||the problem is What Is Rehypothecation? Rehypothecation is a practice whereby banks and brokers use, for their own purposes, assets that have been posted as collateral by their clients. Clients who permit rehypothecation of their collateral may be compensated either through a lower cost of borrowing or a rebate on fees. Rehypothecation: Meaning and Examples - Investopedia Investopedia||19:45:00|
|HAL9000||why are they calling customer deposits assets? they are their client's asset and they owe that back to the client when the client asks. it's not their their asset, it's their 'liability', correct?||19:48:05|
|HAL9000||we'll be better off as soon as we move away from all this into BTC.||19:49:18|
|HAL9000||i didn't read Investopedia carefully enough, they say what i said.||20:06:48|
|HAL9000||in case anyone needs to brush up or never new this to begin with https://en.wikipedia.org/wiki/Fractional-reserve_banking||20:09:26|
|HAL9000||paragraph 2, line 1 is i assume false now, as my bank constantly reminds me i have a daily withdrawal limit. my bank is being run as a hedge fund, so maybe i should get more than 0.1% interest? theoretically, because i don't usually have more than the $500 -$3,000 daily limit on deposit. i think i was told $500 last time, but maybe that was a year ago. come to think of it they have stopped reminding about this||20:16:22|