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+--- Thread: Free finance education Q&A / AMA (/showthread.php?tid=6282011)
Free finance education Q&A / AMA - noEsc - Oct 10, 2024
I've posted some threads about my job being someone that works at a bank. I've learned quite a bit being in the industry and even plan to make a business around educating people about banking, credit, and even general finance information.
I typically work on complex issues with bank accounts and credit, but occasionally work on CDs. I have over 10 years in the industry AMA.
This is mostly US but there is quite a bit that does apply to other countries. A lot of what I know is using the banking structure to your advantage... Knowing how transactions function, how interest works, the benefits and rights you have to leverage in your favor.
RE: Free finance education Q&A / AMA - Omniscient - Oct 11, 2024
What's your "banking" experience with crypto?
Because every traditional banking person I have ever met says it's not real money and to avoid it.
So I'm curious on your own personal crypto view but also what you think the industry is going to do going forward concerning crypto.
RE: Free finance education Q&A / AMA - noEsc - Oct 11, 2024
(Oct 11, 2024 10:03 AM)Omniscient Wrote: What's your "banking" experience with crypto?
Because every traditional banking person I have ever met says it's not real money and to avoid it.
So I'm curious on your own personal crypto view but also what you think the industry is going to do going forward concerning crypto.
I really love this question. Personally from what I've seen crypto will be the future. But there's lots about implementing that as a much bigger exchanged currency that I don't know about. I think if major payment processing companies like visa, amex, discover, MasterCard... The more they implement and integrate it into their systems the better we will be.
But anyone that says it's not really currency is stupid. Currency can be anything you want it to be and the society that puts value on it.
But there's good and bad that comes with crypto, and there's good and bad that comes with companies like visa.
A couple examples like reporting fraud on your card and reporting fraud to the crypto company that processes the transactions. For example you report a Walmart charge as fraud to your bank, they send that info to the card issuer like visa then they contact Walmart to pull the data they have and compare. If there's insufficient evidence to match the card holder then card holder wins. Problem is with crypto because of how most of it processes and depending on the platform chances are you probably won't get your money back. The exception might be those crypto cards issued through visa and such.
Another thing is stop payments, so you can contact your bank and say you don't want Netflix to charge you and the bank will decline it if it comes. But crypto is different where you basically initiate it every time so a lot of the control is on you.
My point is there's a lot of features if you will and infrastructure that crypto either doesn't have yet or can't because of how crypto is set up.
Although I agree with some extent why some people think the banks are the bad guys there's a ton of protection you get because of government regulations to protect the consumer but crypto doesn't have a lot of that set up yet. So you can lose tons of money and you can't really complain to the government, but with the banks you can and sometimes their hand is forced of you know where to complain to.
I have many more examples of you want, feel free to ask.
RE: Free finance education Q&A / AMA - noEsc - Sep 30, 2026
I was inactive for awhile due to some life changes but going to try to be more active again. Going to revive this thread if anyone has any questions!
RE: Free finance education Q&A / AMA - zaizouno - Oct 2, 2026
Hey OP, thanks for this thread. I also work in the industry and would love to connect to share more information