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More than you want to know about gift cards

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Re: More than you want to know about gift cards

#61

Post by lotsofpulp »

Ntrails wrote: post #60
lmkg wrote: post #34

Earlier quoted context omitted.

I mean, it's all cultural. But the idea is that a gift is personal , and that cash is impersonal . The universality is exactly what makes it impersonal. The ideal gift (again, in US cultural context) is one that reflects something unique about the giver, or recipient, or the relationship between them. An exchange of cash is something that happens between strangers on a regular basis.

Lets be clear, a gift card is just as shitty a gift - it just manages to be a mite less crass

A gift card is more crass and far shittier than cash. It is giving me an obligation to shop somewhere and to keep track of that.

I do not want to carry a stupid gift card around with me, or have to remember to use it, or how much more is left on it. And the principle of it is that the cash they could have given you is now earning the retailer interest?

Re: More than you want to know about gift cards

#62

Post by pdabbadabba »

winternett wrote: post #10

I still don't understand why it faux-pas to just put cash in a nice card... I just do it anyway. It's a more universal gift card without fees and expiration dates... Anyone who tries to put me down for doing so will simply not be receiving a gift from me next year... Screw stressful stores. plastic cards, and standing in line, my method is much more "green"... :P

Cash in a nice card can certainly be as good or better than a gift card. It's not necessarily a faux-pas. But it really depends on the situation. In some cases a gift card can be better if it is clear that the giver put some thought into the selection of the card (i.e., where it can be redeemed). There is something about the fact that the funds on a gift card can only be used in a restricted way that encourages the recipient to use it on something special. When I get cash, by contrast, I usually just put it in my bank account. I appreciate getting it, but its a different experience from a well selected gift card. (This can be at least partially addressed by including a note with the cash with some ideas on how to spend it.)

Note, however, that I'm assuming that the gift card is well selected. In practice, I find that this is usually not the case--probably because the giver was simply looking for an alternative to giving cash. Under these circumstances I agree that cash is actually better. There are few gifts worse than a gift card to a restaurant you don't like, for products you aren't interested in, or to a totally generic store.

I think the gold standard remains a thoughtful, nonmonetary gift. But that's often just not realistic.

Edit: A sibling comment points out that this is all cultural. And they're exactly right. So I suppose I should specify that I'm a Christmas-celebrating American. YMMV for gift-giving holidays and rituals from other traditions.

Re: More than you want to know about gift cards

#63

Post by madcaptenor »

Symbiote wrote: post #54
snarf21 wrote: post #17

Earlier quoted context omitted.

Gift cards are about signaling. People are very brand loyal. Cash isn't brand loyal despite its flexibility. Cash and a card to say "buy books" feels less personal than a B&N card for some reason. There is the other part where the gift card is reserved money. Cash gets put into a pocket and spent on gas. A gift card is reserved and people feel anticipation of what they could go buy on their next trip. There is also t…

> A gift card is reserved and people feel anticipation of what they could go buy on their next trip. Growing up in England, my aunt occasionally managed this with cash. She would give me Scottish banknotes at Christmas, which look different, but can be spent without much difficulty almost anywhere in Britain. (The aunt lives in England, so acquiring the Scottish banknotes probably took some effort.)

The US equivalent of this, I think, would be giving two-dollar bills. They exist and are legal tender but are rarely seen.

Re: More than you want to know about gift cards

#64

Post by AussieWog93 »

mikepurvis wrote: post #21
lhorie wrote: post #12

Earlier quoted context omitted.

In chinese culture, it's a pretty normal thing to give red envelopes with cash inside[0] [0] https://en.wikipedia.org/wiki/Red_envelope

Those are a family thing, though. Other than at my wedding, I've only ever received a straight cash gift from family members (eg, grandparents).

Every Chinese kid gets these during the New Year celebrations. It's not a family thing so much as it's cultural.

Re: More than you want to know about gift cards

#65

Post by philote »

mrfusion wrote: post #48
lmkg wrote: post #34

Earlier quoted context omitted.

I mean, it's all cultural. But the idea is that a gift is personal , and that cash is impersonal . The universality is exactly what makes it impersonal. The ideal gift (again, in US cultural context) is one that reflects something unique about the giver, or recipient, or the relationship between them. An exchange of cash is something that happens between strangers on a regular basis.

Could it also be that it would get awkward if two people exchanged cash gifts and they were different amounts. (Also could get awkward if it was the same amount.)

If it's a type of exchange where that may happen, then neither side likely needs the money. It's best to get just give a card. I think cash is more appropriate for parents/grandparents/aunts giving money to their kids/grandkids/etc, and less appropriate between peers. If you feel the need to get your peer something, then get them something you think they may like. If you don't know what that is, then IMO you should stick with a card or nothing at all.

My family has been moving away from gift giving, in favor of spending time together instead. Show people you care for them all year long and don't buy in to these over-commercialized traditions.

Re: More than you want to know about gift cards

#66

Post by throwaway413 »

agentdrtran wrote: post #59
throwaway413 wrote: post #41

Idea: “unlocked” public bitcoin wallets with autogenerated key pairs that can be given to someone without them needing a pre-existing wallet. 1) transactions are instant and free, ie giving over physical ownership of a pub/private key pair (this could be done via scan of a QR code) 2) no prior onboarding necessary (avoids the repeated question “do you have this wallet/app?”) Before, if I didn’t have cash, to tip a va…

transactions are very much not free when paying with bitcoin, and this has been tried in a few forms already but none have been successful. how can they spend what you give them? are you going to sit there and explain bitcoin to the waiter?

Let me clarify. Yes, you have to pay transaction fees when transferring money on the blockchain.

I am proposing that no transaction would occur. Just like when you hand cash to someone, no external transfer needs to take place. You would essentially be giving them full access to said wallet, and giving up ownership. No transaction would need to be recorded to the blockchain because no actual wallet transfer would take place. Only the immediate physical ownership of the keys which could happen offline, instantly, etc.

The rest of your questions are not answered so easily, and agreed, this still doesn’t answer the issue of onboarding to crypto in general. What it does solve though is the necessary onboarding to creating a wallet and understanding how to receive bitcoin. No one needs to “understand” how to receive cash. You stick your hand out and receive it. Should be just as easy as that with bitcoin.

Re: More than you want to know about gift cards

#67

Post by mikepurvis »

AussieWog93 wrote: post #64
mikepurvis wrote: post #21

Earlier quoted context omitted.

Those are a family thing, though. Other than at my wedding, I've only ever received a straight cash gift from family members (eg, grandparents).

Every Chinese kid gets these during the New Year celebrations. It's not a family thing so much as it's cultural.

But mostly within families, right? Admittedly I don't have any first hand exposure to these customs, but are red envelopes being given at work parties or between adult friends? The Wikipedia article cited in this thread is a bit vague on this:

"Red envelopes are gifts presented at social and family gatherings such as weddings or holidays such as Chinese New Year. The red color of the envelope symbolizes good luck and is a symbol to ward off evil spirits. It is also gifted when a person is visiting as a gesture of kindness for visiting. The act of requesting red packets is normally called tao hongbao or yao lishi, and in the south of China, dou li shi. Red envelopes are usually given out to the younger generation who are normally still in school or unemployed."

I loved Sacred Economics and I'm all about figuring out how to reintegrate potlatching and other gift economy ideas into the western world. We desperately need mechanisms other than inheritance for transferring wealth to the younger generations. So I'd love to hear that these practices are occurring outside extended families, but that's not been my impression.

Re: More than you want to know about gift cards

#68

Post by adrianmonk »

snarf21 wrote: post #17
pezzana wrote: post #2

> Personal financial columnists and comedians do not understand the jobs that gift cards do. They are not cash-but-worse-in-every-way. Closed loop cards allow a giver to personalize a gift to the recipient. A Barnes and Noble gift card to a favorite niece tells that niece that you remember she is a reader, unlike those uncreative family members who would just give her cash. The article doesn't actually explain the jo…

Gift cards are about signaling. People are very brand loyal. Cash isn't brand loyal despite its flexibility. Cash and a card to say "buy books" feels less personal than a B&N card for some reason. There is the other part where the gift card is reserved money. Cash gets put into a pocket and spent on gas. A gift card is reserved and people feel anticipation of what they could go buy on their next trip. There is also t…

> reserved money

Right, which can make it function a "real" gift because one type of gift is the thing that the recipient wouldn't splurge on for themselves.

Maybe they'd enjoy a meal at a fancy restaurant but they're also frugal and wouldn't actually go. A gift card to the fancy restaurant means they'll probably go there and treat themselves courtesy of you.

Re: More than you want to know about gift cards

#69

Post by mattnewton »

throwaway413 wrote: post #41

Idea: “unlocked” public bitcoin wallets with autogenerated key pairs that can be given to someone without them needing a pre-existing wallet. 1) transactions are instant and free, ie giving over physical ownership of a pub/private key pair (this could be done via scan of a QR code) 2) no prior onboarding necessary (avoids the repeated question “do you have this wallet/app?”) Before, if I didn’t have cash, to tip a va…

Wouldn't your valet example be even easier with venmo? Or is it because the money has a QR code instead of the account - that could easily be done with venmo, but isn't, it's true. With crypto I worry about the transaction costs dwarfing the utility of something like this. Without a central exchange avoiding fees for the tiny movement of crypto, you'd lose too much in transaction costs when setting up a new wallet to give away. But if you have a central exchange running it anyways why not just expose this UX over an existing cnetralized payment system like venmo?

Re: More than you want to know about gift cards

#70

Post by Broken_Hippo »

cmckn wrote: post #31
winternett wrote: post #10

I still don't understand why it faux-pas to just put cash in a nice card... I just do it anyway. It's a more universal gift card without fees and expiration dates... Anyone who tries to put me down for doing so will simply not be receiving a gift from me next year... Screw stressful stores. plastic cards, and standing in line, my method is much more "green"... :P

I don’t think it is, at least not in my family. Cash is no more of a faux pas than a gift card, at least. I happen to think either is a pretty lame gift. Instead of a gift card to LUSH, for example, just buy me a bath bomb or whatever. Maybe I won’t like the scent you choose, maybe I’ll love it—that’s the nature of receiving a gift. Besides, gift cards are rarely enough to cover an actual purchase with taxes and etc…

Someone being "hard to buy for" isn't a reflection of how well you know them (or if you don't know them). It is simply a reflection of not quite being able to buy them some of the things they'd really enjoy. It is hard to buy art supplies for the artist if you don't make art yourself, and it is similarly difficult to buy an avid reader books since you don't know what books they've read. On top of it all, they might not need or want much - or simply not express the wants well.
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