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With the demographics of BITOG "fintech" should be defined/explained in the first sentence for everyone else but the 6 members who embrace this stuff. First I've ever seen the word which should make it obvious where I stand on whatever it is. IMO it's bad enough that if the internet goes down our (collective) funds are untouchable but to link that reality somehow with social media platforms is next level foolish for the reasons the OP lists. But what do I know...
Online accounts or NOT - brick and mortar banks will be frozen as well (if internet fails).
 
Honestly curios as to why you think this? How is it any different than say an airline offering a visa card that gives miles - for example?

All banks are online now.

No bank keeps cash or gold in the local vault.
How is this even remotely similar to an airline affiliated credit card?
There is no social media site involved in booking airline tickets and any airline you've booked with already has ample personal information on you.
 
Its clearly targeted to people that aleady are X Premium+ subscribers - so they would be paying it anyway.
or to make more people sign up for it. Since he can write off the interest as a cost of business (marketing/incentivize)
and pump his X (twitter)cash flow numbers
 
How is this even remotely similar to an airline affiliated credit card?
There is no social media site involved in booking airline tickets and any airline you've booked with already has ample personal information on you.
X is simply a business providing services like any other, including airlines. The Social Media portion is not even the big part anymore, Grok is. If you don't care for the business thats fine, but that is simply your preference not a valid business argument.

or to make more people sign up for it. Since he can write off the interest as a cost of business (marketing/incentivize)
and pump his X (twitter)cash flow numbers
So you hate Musk and hence don't want to do business there, which is fine. What if the same thing was offered by Warren Buffet, or Costco? Would you feel differently?
 
So you hate Musk and hence don't want to do business there, which is fine. What if the same thing was offered by Warren Buffet, or Costco? Would you feel differently?
Are projecting your hate for musk onto others? - Makes about as much sense as your reply to what I said.

He sold thousands of cybertrucks to space X.. which boosted his tesla numbers.
He "sells" millions of X premium+ accounts.. boost his X numbers. interest on accounts can in the short term be written off as cost of acquisition.\

There has been no statement on if the 6% is perm, temporary etc.
 
I realize that you likely won't be able to get money from your local branch which is concerning. Regarding Musk and his genius he has demonstrated his willingness to disrupt people's lives wholesale (DOGE) and his apparent micromanagement leadership would make it not outside the realm of possibility that he would fiddle with his online bank. Not a Musk hater or worshiper just not willing to enter his world of crazy genius for a couple of percentage points.
 
X is simply a business providing services like any other, including airlines. The Social Media portion is not even the big part anymore, Grok is. If you don't care for the business thats fine, but that is simply your preference not a valid business argument.
X has a lot of baggage that comes along with it and it is not merely a business.
Given the high levels of dissatisfaction with X it is not a place I'd chose to park my money.
X has the Trustpilot rating of a scam site.
You've also failed to explain how any of this is even remotely similar to an airline, other than to assert that both are businesses offering a service.
By that standard, so is a drug dealer.
 
Well, this is certainly new. It took 60 seconds to have an account but I am sure much more to do ... email and password to get started. Didnt even give my name, but will have to add it to my profile I would think at some point.
Non techies will have an issue with this but those people are dying off. ITs about the young and cool, like me 🤣

Once you set your account with email and password from there you enter your information under profile
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OK, WITH THAT SAID, THERE IS A COST TO GET A VIRTUAL CARD $89 OR A PHYSICAL CARD HAS 3 TIERS starting at $50 So for me that ends it for today.
Depends if and how much money I would want to move into it/ anything new for me takes serious consideration and will cal this a procrastination event for me now. I would go with a physical card, I like "hard copies" of all things. Plus simplify having all things equal just another card to add to Apple Pay.
@SC Maintenance @paulri
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That is a scam site. Not the real thing.
 
That is some random website someone vibe-coded and wants to sell. It is not affiliated with X money. It seems to link to some crypto thing. Hope nobody is putting their info in there!
You are right, it's not affiliated with "X" I was wrong.
You need the "X" app and account. I think the money part is still in beta. I got ahead of myself. However the site I did post, is ligit but not the product we are talking about.
 
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I don't see the controversy. It's not the first online banking without local brick and mortar locations. Most people use ATMs for cash and established banks have been closing physical locations all over the country. I see a lot of luddites, MDS, and people who think everything is a scam.
Don't like it, don't use it. This isn't Cuba or PRC.
 
That is a scam site. Not the real thing.
Not a scam site but it is not Elon Musk's site in this discussion. Thanks for the information! I deleted all my posts.
Hence, why I go slow. Im not sure how you set up Musks system, maybe you do need an "X" site. None of the articles have posted where to find his site yet. Im wondering if it is live or not?
 
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