Mistakes happen, even terrible ones. They can be fixed though. The biggest issue is the fact that Etsy is stonewalling the issue and not willing to talk about it openly.
I don't think they're stonewalling the issue. They need to figure out what happened, they need to figure out who got affected, they need to figure out how to refund their money, with ACH it's slow. Friday is the worst day, banks are closed Sat, Sun and Mon (Banking holiday, President's day), their customer service lines, emails are probably flooded. Their legal team might have already taken a few calls, their PR department is working as hard as possible, their retention team is also trying hard to keep business. The dev team needs to also find a solution. They need to do all this, and their postmortem report probably needs to be reviewed by legal to reduce any future exposure.
Nothing will make the users happy till their money is refunded and that will not happen till Wednesday. Earliest day they can submit refunds will be Tuesday, it will show up on Wed. Same day ACH is not going into effect till Sep 2020.
> Exactly. This is one of the advantages that cryptocurrency has over banks.
If it were any sort of meaningful advantage you'd likely see banks adapting pretty rapidly. There's nothing inherently impossible about faster bank transfers - Europe already has 24/7 nearly-instant transfers via SEPA.
> The Etsy snafu will be repeated until people and businesses start to require crypto for business transactions.
I suspect for every one Etsy snafu there's a bunch of "thank goodness I could issue a chargeback" situations.
Having people trust you is a concrete gain for being honest. Hiding the truth to avoid liability demonstrates that you're not trustworthy. To me, it's fundamentally unethical, though I know it's often promoted as "practical" in our culture.
They should be bending over backwards to try and restore their users' trust. It's insulting that they expect us to go by faith alone.
I'm someone that was impacted by this (had about $2700 put on my credit card), and yes I will trust them again.
Mistakes happen, and I think it's silly to overreact and completely cut ties with a company over a single mistake.
It does suck, and it was hilariously bad timing for us due to some personal stuff going on, but I trust that they will do a good job rectifying the issue.
I do have some issues with how they are handling this (I should have gotten an email when they found out this was a problem and not have had to find the forum post on my own), but at the end of the day it's a mistake and one I hope they will learn from.
