That seems awfully harsh, the comment I replied to had done the usual "let's find some reason this is discriminatory" thing and I was pushing back on it. I'm happy to stop commenting.
While keeping something running via an informal system is better than nothing, and most people might be okay... if you're just kinda shifty looking or unpopular at the moment in your local pub and have a much harder time than everyone else, that's not exactly great.
That is, it's not only the common experience that matters, but the outliers too. The basic tools of society should be available even if you're ugly, annoying, or a minority.
This problem is far worse with a concentrated system than a decentralized one. If there are five local pubs and one of them won't have you, well, still four more. If there is only one bank and their loan officer doesn't like the cut of your jib, or their algorithm has decided to have a false positive, you're done.
Though of course the modern problem isn't that there is only one bank, it's that there is only one bank regulator which subjects all of the banks to the same incentives, and if those rule you out you're effectively prohibited from using a bank in another jurisdiction with different rules.
What you need for this is something permissionless.
dang|2 years ago
It destroys what this site is for, so we end up having to ban accounts that keep doing it.
If you'd please review https://news.ycombinator.com/newsguidelines.html and stick to the rules when posting here, we'd appreciate it.
version_five|2 years ago
mlyle|2 years ago
That is, it's not only the common experience that matters, but the outliers too. The basic tools of society should be available even if you're ugly, annoying, or a minority.
AnthonyMouse|2 years ago
Though of course the modern problem isn't that there is only one bank, it's that there is only one bank regulator which subjects all of the banks to the same incentives, and if those rule you out you're effectively prohibited from using a bank in another jurisdiction with different rules.
What you need for this is something permissionless.
garba_dlm|2 years ago