Comment on Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’

• notthebees@reddthat.com ⁨1⁩ ⁨year⁩ ago

  iirc the money storage aspect of PayPal has to be regulated as a bank.

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• someguy3@lemmy.ca ⁨1⁩ ⁨year⁩ ago

  I think because they’re a payment processor. Banks store large amounts of money, make loans, etc.

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  • givesomefucks@lemmy.world ⁨1⁩ ⁨year⁩ ago

    It’s going to be like a crypto or PayPal wallet where you can store a balance, it’s just not insured or regulated like a bank.

    I saw an article a while ago where a concerning amount of people were doing that instead of a bank account.

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  • grabyourmotherskeys@lemmy.world ⁨1⁩ ⁨year⁩ ago

    They issue credit and lenders finance this. There’s always a bank.

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• SpaceNoodle@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Cobble?

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  • Deceptichum@kbin.social ⁨1⁩ ⁨year⁩ ago

    The Things been put in charge of their legal team.

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    • SpaceNoodle@lemmy.world ⁨1⁩ ⁨year⁩ ago

      It’s cobblin’ time

      makes shoes

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  • CmdrShepard@lemmy.one ⁨1⁩ ⁨year⁩ ago

    Yes, jesus thank you. It was right on the tip of my tongue.

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  • harmonea@kbin.social ⁨1⁩ ⁨year⁩ ago

    "Clobber" implies violence, which is somehow even less elegant than the standard phrase that the haphazard "cobble" implies. Given the shitshow of X so far, clobber probably works better even if it's not the usual way to phrase this at all.

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    • Bizarroland@kbin.social ⁨1⁩ ⁨year⁩ ago

      And despite cobble and clobber implying violence and inelegance, cobblers are either some of the best versions of pies or the people that maintain your fanciest of shoes.

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