181–190 of 717 posts
Earlier quoted context omitted.
Any proposal that requires companies to ignore signs of fraud is Dead-On-Arrival.
I literally said 'lawful' transactions. Fraud is not lawful.
Earlier quoted context omitted.
I'd never heard of that before, interesting, thanks; Rich people speak a foreign language ...
It's also used in other contexts, e.g. cash vs. stock compensation (and I wouldn't necessarily call everybody offered that choice "rich" these days).
Earlier quoted context omitted.
How would you handle chargeback claims? Should all users of the system share in the fraud risk?
Same way it's handled now, you charge a higher processing fee proportional to the chargeback risk in the industry. My only argument is that networks shouldn't be able to capriciously deny transactions that are legal, even if I disagree with them. I don't believe in the 2nd amendment, but to the extent it is lawful to buy a gun, you should be able to buy it with your Visa card, imo, and a lot of payment acquirers do n…
Earlier quoted context omitted.
> what are the main benefits of going fully cashless One piece of advice I got a long time ago, from a family member in politics: Don't put your groceries on a credit card. Especially if you buy junk food or alcohol. Obviously the same goes for bars, tobacco, strip clubs, gun purchases[0], and lots of other perfectly legal things that you might not want being counted up if you ever run for office. At the systemic lev…
What's the basis for this advice? Personally I'd be far more interested to learn that someone running for office refuses to use a credit card to buy groceries because they fear having that information collected and used against them... than that they once spent $500 in a single month on Twinkies. If someone wants to use your spending history against you they don't actually need your credit card bills these days, they…
My concerns about a cashless society are the power it hands to a few oligopolistic credit card processors. Look at what happened to Pornhub. Regardless of whether you think Pornhub was in the wrong, it is striking that a business was cut off from global financial system by a small number of credit card companies. This was done without due process and under no countries laws. That should scare us at least a little.
How could a website function with cash payments at all?
Earlier quoted context omitted.
> what are the main benefits of going fully cashless One piece of advice I got a long time ago, from a family member in politics: Don't put your groceries on a credit card. Especially if you buy junk food or alcohol. Obviously the same goes for bars, tobacco, strip clubs, gun purchases[0], and lots of other perfectly legal things that you might not want being counted up if you ever run for office. At the systemic lev…
> Don't put your groceries on a credit card. ...huh? "Don't use store membership cards that track your specific purchases" is one thing, but in what world does your credit card processor get info about the individual goods on your receipt?
A person with habitual transactions at a casino or liquor store could be perceived as high risk and the lender could jack up the interest rate for that person. I have no clue if lenders _actually_ do this, but they could since they do ask for your outgoing transactions.
Earlier quoted context omitted.
> the power it hands to a few oligopolistic credit card processors And the government. In Canada the government suspended the constitution (because that's a thing over there?) because of some peaceful, free-speech protected, protests in the capital and started arbitrary freezing protester's bank accounts. Of course, without any due process (remember, constitutional rights were suspended!).
Yep, and hat tip to the government for a job well done. There's a right and a wrong way to protest, they were given time to choose to do it right. Now that the threat is over and dispersed they're welcome to come back and protest peacefully. For an end to the vaccine mandates, that ended already. Silly sausages. For reference, the Emergencies Act doesn't 'suspend the constitution' it suspends certain Charter rights f…
You can see here how wrong and violent these protests were. The bouncy castle and hot tub were a danger to society!
Earlier quoted context omitted.
> The primary benefit of cashless is pretty much just the ability to be lazy. By this logic, the primary benefit of just about every technological development in human history is the ability to be lazy. The wheel is just a crutch for those too lazy to drag their loads on sleds. The downsides of a cashless marketplace are indisputable, but “laziness” is a reductive view of the upsides.
Using your example, the wheel allows us to perform more work per unit of time. I think it would be good for discourse to identify that within society there is the general consumer public and then there is education, government, research, etc. Could you argue that the wheel allows an individual to be lazy? Definitely. Is it correct to argue that a wheel is a crutch and makes every individual that uses it lazy? Definit…
Pretty interesting parallels to biology too, like in some birds there's the race towards sexually selecting ever fancier tail feathers that might cause more female birds to ooh and aah perhaps, but hurt your chances of flying away from a hawk, and lead to an overall reduction in fitness in the species as the hawks start finding more success and expanding their population size at the expense of yours.