More than you want to know about gift cards • Hacker News Board

Re: More than you want to know about gift cards

#131

Post by DarylZero » Tue, Dec 14, 2021, 5:30 AM UTC

throwaway413 wrote: post #117

jameshart wrote: post #109

Earlier quoted context omitted.

Since this amounts to handing over the password to a wallet, what guarantee does the recipient of the wallet have that they are now the exclusive holder of that password? You could easily have retained access yourself, so after you walk away you can yank the funds out of it. Or you could hand out access to the same wallet to a half dozen people. Without actually transferring the funds to a wallet you know you exclusi…

Very true - this is elaborated on in the rest of this thread. Basically, the holder would have to be locked out of the private key from creation of the wallet, and there would have to be trust placed in a centralized regulatory body to issue and redeem these wallets.

The holder of the QR code can't be locked out of having the QR code.

Re: More than you want to know about gift cards

#132

Post by rezendi » Tue, Dec 14, 2021, 5:37 AM UTC

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…

Similarly: https://btextc.com/send.html

Re: More than you want to know about gift cards

#133

Post by httpz » Tue, Dec 14, 2021, 5:37 AM UTC

Gifting is much more than just a monetary value transfer from one person to another (unless you're a soulless tax lawyer) and so many people here are forgetting that.

I see gift cards to be somewhere between a thoughtful physical gift and a bank transfer.

I'd rather give my nephew a $50 gift card to a bookstore than $40 in cash.

Re: More than you want to know about gift cards

#134

Post by [deleted] » Tue, Dec 14, 2021, 5:45 AM UTC

lotsofpulp wrote: post #114

kelnos wrote: post #104

Earlier quoted context omitted.

I agree that it's shittier (from an ease-of-use perspective), but I don't agree that it's more crass. The usual objection to cash or cash-equivalent gifts is that they're impersonal and show that you don't know the recipient well enough to pick a gift they'd like, or care enough to expend the effort to find one. A gift card (at least if it isn't something generic like Amazon or Starbucks) at least says "I wasn't sure…

I will give you that gift cards can be used to signal they noticed you like a certain type of thing, but a gift card to Amazon or Target does not do that. If you really do not know what the other person would like as a gift, and do not want to do cash, a regular phone calls I think is more meaningful. I want for almost nothing except home cooked food that would be given as a gift, but just calling and spending a few…

[deleted]

Re: More than you want to know about gift cards

#135

Post by bze12 » Tue, Dec 14, 2021, 5:47 AM UTC

skinnymuch wrote: post #93

pdabbadabba wrote: post #62

Earlier quoted context omitted.

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 r…

The last two times, I’ve included a short url that redirects to a notion page personalized for the person. As in it includes the nickname or something. The page includes instructions on how to add the gift card to the store’s app and/or site (with an account). All relevant links included to make it as easy as possible. I also looked up apps that can be gift card aggregators and will include that next time too. —- I d…

Hey, I started an app that’s centered around birthday gifts (https://hbd.cool). You can send gift cards and digital greetings kind of like you describe, it’s a fun way to personalize what’s usually a boring gift (as other commenters have mentioned). Would love to get your feedback on it!

Re: More than you want to know about gift cards

#136

Post by serverlessmom » Tue, Dec 14, 2021, 5:51 AM UTC

makecheck wrote: post #124

Gift cards are the ultimate anti-consumer scam: - If you buy a gift card that isn’t worth enough for what you actually buy, the store “wins” because you will probably make up the difference with cash and they then sell you something you either would not have bought at all, or bought somewhere else. - If you buy a gift card that is worth more than whatever you end up buying, the store “wins” again because they have re…

So I admittedly don't tend to think of consumerism as a game that a consumer can win, but I just wanted to add one more route here. What if you buy a gift card on special deal that gives you an additional percentage of funds for you to spend? Such as... Buy $100 get an additional $20. Assuming this is a place that you regularly want to shop? Then you are effectively getting $20 off a purchase you were going to make anyways.

Re: More than you want to know about gift cards

#137

Post by shaklee3 » Tue, Dec 14, 2021, 5:56 AM UTC

httpz wrote: post #133

Gifting is much more than just a monetary value transfer from one person to another (unless you're a soulless tax lawyer) and so many people here are forgetting that. I see gift cards to be somewhere between a thoughtful physical gift and a bank transfer. I'd rather give my nephew a $50 gift card to a bookstore than $40 in cash.

this is pretty much exactly what he says in the article.

Re: More than you want to know about gift cards

#138

Post by charcircuit » Tue, Dec 14, 2021, 6:34 AM UTC

makecheck wrote: post #124

Gift cards are the ultimate anti-consumer scam: - If you buy a gift card that isn’t worth enough for what you actually buy, the store “wins” because you will probably make up the difference with cash and they then sell you something you either would not have bought at all, or bought somewhere else. - If you buy a gift card that is worth more than whatever you end up buying, the store “wins” again because they have re…

Gift cards have better privacy than credit cards and can be used instead of a credit card for online shopping.

Re: More than you want to know about gift cards

#139

Post by boppo1 » Tue, Dec 14, 2021, 6:44 AM UTC

I once worked at a small business, single-location franchisee of a niche brand. I got a pretty good look at our balance sheet a few times and damn it sure looked like giftcard holders owned us. I think that line item was like 70% of our liabilities. equity was tiny.

We also sorta ran like shit, which makes sense when you consider those incentives.

Re: More than you want to know about gift cards

#140

Post by adamddev1 » Tue, Dec 14, 2021, 6:44 AM UTC

LgWoodenBadger wrote: post #119

IME, a gift card is a nice/friendly way to push a frugal person to spend money on themselves that they wouldn't do otherwise. If it's cash they'll just deposit it. If a gift card they might actually buy themselves something.

Yes, this exactly. I'm surprised more people aren't thinking of this. Gift cards are nice because it kind of allows/forces you in a guilt-free way to relax and spend something at a certain store rather than just being cash that you feel you'd have to decide how to use it in the best way.