aspidistra

People think it is a magical black box because the code in the parent comment, and in the thread you linked, is three and a half years old, and HN does not run these days on exactly the same code that was open-sourced in news.arc.

I'm not exactly sure what you are asking.

But almost all of the things on that page -- standing orders, direct debits, day to day banking, maintenance, transactions -- are free of charge at most UK personal current accounts.

The only thing I noticed that would have a charge is sending money outside the UK, even to EU countries.

You might get a massive increase in personal freedom and privacy from using bitcoin. But there is a difference between Pure Bitcoin, so-to-speak -- everyone is their own bank -- and a bitcoin-based service.

On Circle's website, it states: "Keeping your money safe is our top priority." That suggests Circle, too, is in actual control of your money -- like the retail bank service they aim to improve.

So how do you know the things you write -- recording transactions, storing your data, restricting access, hacker susceptibility -- won't apply here?

My point is that faced between two choices where a consumer gives someone else control of their money, the traditional system in many places is so far ahead in terms of reach, convenience and regulation compliance that a startup has a lot of work to do.

Every time I read an headline about "bringing bitcoin to the masses" I'm reminded of the saying that you can lead a horse to water, but you can't make it drink.

> "We don’t think consumers should be charged for using their own money."

Where I live (UK), I can't think of anything bitcoin services like Circle offer that is definitively better than my existing bank setup.

I'm not charged for using my own money. I don't pay a monthly fee for my bank account. I don't pay anything to send money to other people in the UK, which covers 98% of all the people I send money to. If I do send money to people in the UK, it's usually virtually instant, because of Faster Payments. I can withdraw money from nearly all ATMs in the UK free of charge -- the only exception are rare independent ones in places like nightclubs and out-of-the-way convenience stores, and I honestly can't ever remember using one. I can check my bank balance on my phone -- by app or by SMS. In lots of outlets I can pay for small value transactions, anything up to £20, just by waving my bank card.

I understand the banking system in the USA is ... different. (Some would say behind the times.) But in the UK at least, promoting a bitcoin-based service based around the concept of better retail banking is a hard sell.

Neither the Channel Islands nor the Isle of Man are in the UK.

You didn't mention that you thought the app was simple. You said you thought running crowdfunding for it was dishonest and immoral.

In any case... Parsing 35TB of HTML, JavaScript and images, and then releasing that as structured data, on top of rebuilding a sustainable web service? I don't think it is simple at all. It's not exactly a hackathon project.

There's a section on the page called "Why Kickstarter?"

I don't think there's anything dishonest and immoral about the reasons given there.

> -b /- root(b^2-4ac to the tune of Pop Goes the Weasel

Woah. In the UK the most we got was SOHCAHTOA: "Smiles of happiness come after having tankards of ale", or "Some old hag cracked all her teeth on apples".