Mark Lansbury

#Kafkaesque: Starling Bank blocks cash transfer & froze their account

An Edinburgh academic has accused #Starling bank’s fraud team of behaving like officers in a police state after they repeatedly refused to allow him to send a €15,000 (£12,800) payment to a friend in Austria, then froze his account when he complained about their “absurd demands”.

When he told the #bank that he considered its demands a gross invasion of both his and his friend’s #privacy (and likely data rules) and totally disproportionate in the circumstances, he says it still refused to transfer the money. The staff could have told him the payment was at his own risk, but wouldn’t.

The final indignity came when he said he was so fed up with his treatment that he wished to close hi

‘Kafkaesque’: bank blocks cash transfer, saying it could be an AI scam

Starling’s fraud team repeatedly refused to allow UK man to send £12,800 to friend in Austria, then froze account

^{Miles Brignall (The Guardian)}

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Adam Hunt

3 months ago •

Of course we keep seeing the opposite thing here, where people get scammed, go into the bank and the bank tells them not to transfer the money because it is a scam and they do it anyway and then claim the bank didn't do enough to protect them. Personally I would just have the customer sign a release form.

Murkas Wylander

3 months ago •

Can't happen with Bitcoin. Just sayin.

Adam Hunt

3 months ago •

Can’t happen with Bitcoin. Just sayin.

Hahahahahahahahha!

Murkas Wylander

3 months ago •

"First they ignore you, then they laugh at you, then they fight you, then you win.”

Adam Hunt

3 months ago •

You never have to worry about being scammed because:

Bitcoin is the greatest scam in history

Bitcoin is the greatest scam in history

In my opinion, bitcoin a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificiall…

^{Bill Harris (Vox)}

Murkas Wylander

3 months ago •

On an open source social network platform with open minded people promoting open source software I would not have expected that they are ignorant and posting opinions (not facts) from a banker.

Adam Hunt

3 months ago •

Why bitcoin is worse than a Madoff-style Ponzi scheme

A Ponzi scheme is a zero-sum enterprise. But bitcoin is a negative-sum phenomenon that you can’t even pursue a claim against, argues Robert McCauley.
This is a guest post by Robert McCauley, a non-resident senior fellow at Boston University’s Global Development Policy Center and associate member of the Faculty of History at the University of Oxford. In this post McCauley argues that comparing bitcoin to a Ponzi scheme is unfair to Ponzi schemes.

Subscribe to read

^{Financial Times}

Adam Hunt

3 months ago •

Can’t happen with Bitcoin. Just sayin.

Debunked:

Scams telling you to pay with Bitcoin on the rise By Cristina Miranda
Division of Consumer and Business Education, US Federal Trade Commission
- Business is booming for crypto scammers by Sara Morrison, Vox
$1 billion has been lost in cryptocurrency scams since 2021, FTC warns By Ramishah Maruf, CNN

Business is booming for crypto scammers

More than $1 billion was lost to crypto scams in the last 15 months.

^{Sara Morrison (Vox)}

Murkas Wylander

3 months ago •

Now it really gets kafkaesk. That "non-resident" and associate in "History", not economics, does not even know what a Ponzi scheme is.
How do you find such misleading pieces of opinion?

Here it is debunked, by looking at its definition:
https://www.lynalden.com/bitcoin-ponzi-scheme/

Bitcoin: Addressing the Ponzi Scheme Characterization - Lyn Alden

Originally published: January 2021 One of the concerns I’ve seen aimed at Bitcoin is the claim that it’s a Ponzi scheme.

^{Lyn Alden}

Murkas Wylander

3 months ago •

Bitcoin is not crypto. Because the SEC would not allow a ponzi scheme to be an ETF, therefore Bitcoin is the only cryptocurrency which has ETFs approved.
And Trump whats Bitcoin as currency reserve for the US.

Adam Hunt

3 months ago •

Your posting history makes it clear that you are here on D* to suck others into the Bitcoin scam that you are profiteering from. I am just providing warnings to readers to counterbalance your spamming.

Murkas Wylander

3 months ago •

Insults and allegations are not really a sign of good education, Adam. It weakens your point.

Adam Hunt

3 months ago •

These are not allegations nor are they insults. Your posting history speaks for itself. You are are consistently clearly here to promote Bitcoin. I am here to provide counterpoints, based on citing refs and facts.

You seem determined to try to confuse readers with claims like :

Bitcoin is not crypto.

The US Federal Trade Commission says it is: https://consumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams

What To Know About Cryptocurrency and Scams

Confused about cryptocurrencies, like bitcoin or Ether (associated with Ethereum)? You’re not alone.

^{Consumer Advice}

utopiArte

3 months ago •

@Adam Hunt To be sincere, doesn't matter what you think about bitcoin or Murkas, what he pointed out with his very first answer was simply that as of now no entity can prevent you from wiring your btc to another btc address.
And that is true,

The rest is basically BS talk, he said she said and third party citiations to make things look more or less true.

Maybe bitcoin is as a ponzi scheme like all the legal wall street investments, including the US-dollar itself ..
(I guess there is more than one view point that could reasonably argue this 😀

@Adam Hunt