"We’ve found our cohort of wildly passionate early adopters... Unfortunately, these people are criminals"
reminds me of another exciting and hip big fintech-adjacent industry
Braid is dead, long live Braid
11–20 of 99 posts
Re: Braid is dead, long live Braid
#12I appreciate stories like this, they are the memento mori of startups.
Re: Braid is dead, long live Braid
#13That was such a well written, introspective, and vulnerable story. I've had several opportunities to experience similar rides with very similar endings, and know how gut wrenching failure feels. And how it's often just a failure, with nothing learned. With writing like this, though, the rest of us get to learn.
Re: Braid is dead, long live Braid
#14I am hopeful for the future of this findom app
I don't think findom needs money pools. Its just a bunch of individual account holders receiving payments.
Re: Braid is dead, long live Braid
#15It's like Venmo meets a corporate card program.
Re: Braid is dead, long live Braid
#16Re: Braid is dead, long live Braid
#17When I saw the title, I thought it is the video game Braid[1]. I really want the Anniversary Edition. [1]: http://braid-game.com
Same! Was just drunkenly ranting about that game to a very patient rando the other night. I’ve really been wanting to take turns running through it with my partner lately, especially given the atom bomb references in light of the recent Barbieheimer phenomenon.
Re: Braid is dead, long live Braid
#18I can some what sympathize with part of what it sounds like here getting crushed by people committing credit card fraud. I had a small little company online in the early day's of the interweb's online payments. We had a very niche retail site, and for a few months we were increasing sales month-to-month. We'd get sales, the merchant company would approve them, and we'd ship out the product. Right up until the point w…
If only there were some good and fast internet payment mechanism without middlemen or gatekeepers, where the person getting paid could be immediately 100% sure that they were in possession of the money. Maybe someone will invent it one day.
In the Netherlands we have such a system called iDEAL. People use the app/site from their own bank to authorize the payment and the money arrives on the receiver's bank account instantly and irrevocably (without a judge stepping in). It's also very cheap (like 25 cents fixed).
Merchant fraud doesn't appear to be a big problem. Probably because the merchant requires a Dutch bank account, which requires a lot of identifying paperwork
It's pretty awesome.
Many other European companies have a similar system, and I believe there are plans to join them into one system. Let's hope the credit card lobbyist don't manage to mess it up.
Re: Braid is dead, long live Braid
#19Earlier quoted context omitted.
If only there were some good and fast internet payment mechanism without middlemen or gatekeepers, where the person getting paid could be immediately 100% sure that they were in possession of the money. Maybe someone will invent it one day.
In the Netherlands we have such a system called iDEAL. People use the app/site from their own bank to authorize the payment and the money arrives on the receiver's bank account instantly and irrevocably (without a judge stepping in). It's also very cheap (like 25 cents fixed). Merchant fraud doesn't appear to be a big problem. Probably because the merchant requires a Dutch bank account, which requires a lot of identi…
Hear hear. We have the same thing in Poland.
Re: Braid is dead, long live Braid
#20Earlier quoted context omitted.
If only there were some good and fast internet payment mechanism without middlemen or gatekeepers, where the person getting paid could be immediately 100% sure that they were in possession of the money. Maybe someone will invent it one day.
The problem is that would have the opposite problem, that purchases made with stolen cards were 100% unrecoverable. While im sure we can improve things, the fact that the current system favors individual people, rather than businesses, is intentional, not an accident.
Having a 2FA for credit card / wire transfer payments solves this issue and it's a de facto standard now in many European countries.