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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

#81

Post by throwaway413 »

mattnewton wrote: post #80
throwaway413 wrote: post #77

Earlier quoted context omitted.

> you can just scan their QR code You still have to ask them if they have Venmo, ask them for their QR code, scan it, create the transaction, and then send it, and then make sure you sent it to the right person. The loading wallet/unloading wallet concern is definitely warranted. I’d imagine that this would have to become a new special type of wallet, that the private keys are never accessible to the end-user. You co…

Right, what you have described requires a central authority to 1) manage access to the funds (instead of trusting the tipper not to spend the funds he gave the tippee), and 2) avoid blockchain overhead by spending from accounts directly. Double spending then is prevented by trust in the central authority in both cases. The only useful part of the crypto currency left is the account-less nature of it, which can be don…

Well said, I agree with that, although I do think there is a difference between trusting a central authority to maintain an opaque system vs merely being a regulatory figure maintaining a transparent system. If that’s even possible :)

We are currently still trusting places like Coinbase as much as we would need to already, to implement this sort of system. Why? Because you’re right - it’s a current UX problem of payments, not something crypto inherently solves.

Re: More than you want to know about gift cards

#82

Post by unclenoriega »

Symbiote wrote: post #51
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.

This is generally solved with a note alongside the cash. "Please treat yourself to a meal at my favourite restaurant, X." "I think you can buy some plants for the garden."

This is the same idea behind giving a gift card (if it's done thoughtfully).

Re: More than you want to know about gift cards

#84

Post by tqi »

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

From the article:

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.

If anyone’s psychology is being manipulated, it is likely the recipient, on a theory very similar to the one that causes many readers’ employers to offer a gym stipend instead of the equivalent amount of salary. You appreciate the money more, not less, because of the story about your relationship it comes with.

Re: More than you want to know about gift cards

#85

Post by bedhead »

My theory on gift giving is to get the person something they probably want but normally wouldn't, for whatever reason, buy themselves. Like a nice bottle of wine, a lot of people would love it, but would also feel silly spending money on it. It's obviously not always that easy to do this but anytime you can I've found it goes over really well. And yeah, it usually involves kinda silly luxuries like wine.

Re: More than you want to know about gift cards

#86

Post by AussieWog93 »

mikepurvis wrote: post #67
AussieWog93 wrote: post #64

Earlier quoted context omitted.

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…

I've definitely seen hongbao exchanged between adult friends in a wedding setting, but I'm not sure if this extends to the general case.

Re: More than you want to know about gift cards

#87

Post by lhorie »

mikepurvis wrote: post #67
AussieWog93 wrote: post #64

Earlier quoted context omitted.

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…

I mean, it's "mostly within families" in the sense that most gifting occurs within family anywhere, but it certainly isn't restricted to familial contexts; you could definitely give them to friends, co-workers, teachers or other acquaintances.

Traditionally, there's some nuances to it, e.g. it's often a tradition associated with visiting someone, and it is meant to have symbolic intent, meaning that it doesn't fit settings like secret santas.

Re: More than you want to know about gift cards

#88

Post by ximeng »

mikepurvis wrote: post #67
AussieWog93 wrote: post #64

Earlier quoted context omitted.

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…

Also given by managers to staff and generally to people that help you in your day-to-day life.

Re: More than you want to know about gift cards

#89

Post by truculent »

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.)

What a lovely idea.

Re: More than you want to know about gift cards

#90

Post by potatosalad1 »

lostcolony wrote: post #57
cmckn wrote: post #31

Earlier quoted context omitted.

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…

My wife did something amazing this year that I think is relevant here. She had a baby shower to go to. She didn't know what to get the mother to be. So she bought an Amazon gift card. And then she created a wishlist of items she thought the mother might need, doing the research to find reputable brands, unique solutions to problems, "best mom gadgets", etc (such as the pacifier that you can put liquids into; it lets…

That's the best because it saves the mom time to do research, which once you're all making decent money is the true gift.
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