[Cryptography] Lakestone Bank and Trust Just Made A Problem, Oopsie

[John Levine]

In article <20171221150728.GC844 at sivokote.iziade.m$> you write:
>On Wed, Dec 20, 2017 at 10:33:20PM -0500, grarpamp wrote:

>> https://www.facebook.com/LakestoneBank/

>This greedy bank well might kill herself, possibly downing large
>amount of the rest of Ponzi scheme banks.
>It is enough critical (possibly not large) part of their lusers 
>to ask their money back.

That's completely ridiculous.  This is a small town bank in Lapeer MI,
an exurb of Detroit.  It has been around since 1902 has grown modestly
by buying and merging other small banks nearby including one that was
founded in 1898.  It has under $600 million in assets, which is quite
small, and a 10% capital ratio and 10% return on equity, which make it
a very healthy little bank.  I expect that most of their customers
live within driving distance of one of their offices.

They probably consider speculating on Bitcoin to be gambling, which by
any normal definition is exactly what it is.  It is not unusual for
banks to fire customers who they believe are engaging in excessively
risky financial behavior.  The only response I have seen to the letter
from the bank is flaming on reddit.  I see no evidence that any of the
bank's other customers care, or have even noticed.

R's,
John

PS: Once again, I would encourage people who know nothing about
economics, and aren't willing to do the most basic research, to
refrain from economic pontification.