241–250 of 421 posts
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https://www.nerdwallet.com/article/credit-cards/credit-cards... People spend more money and tip higher when they use credit cards than cash….
> People spend more money and tip higher when they use credit cards than cash…. And you think that's a good thing?
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yes, but the only place where to buy the sheets of $2 bills is at the US Mint so they can set any price. It's another form of Seignorage https://en.wikipedia.org/wiki/Seigniorage , where the government gets to keep the difference between the cost of producing these coins and/or notes and keeps the difference as this money is unlikely to be back in circulation. Same thing happened with the 50 states collectible 25c, i…
Btw, I wonder what strategy would lead to maximisation of Seignorage (in inflation adjusted terms). Ignoring collectors items for a moment, I suspect keeping inflation low will lead to higher absolute monetary balance held by the public, more than making up for not raking in much in 'inflation tax'. See eg how the Bank of Japan could pump out lots and lots of money to be held by the general public, when their inflati…
Most Americans shouldn't keep their money in savings and should invest into the stock market because it's a reflection of our collective economical input. And if you just keep it in Savings then it'll keep up with the interest rate which doesn't change the stored value, so what's the point? While in big indices there always going to be winners because that's just the nature of the game, so by betting on winners you are going to outrun the interest rate by capturing this additional value that is being created. And people working for these winning companies and startups are very interested in beating the interest rate, they're mostly shareholder aligned as they themselves are equity holders. If you don't have equity you're working in, it still makes sense to bet on winning companies since those people are vey much equity aligned and just want to capture the market share.
Pension funds, 401k are all tight to various investments, indices, etc. that are all reflection of the total economy. And I see it as my participation in the broader economy as I spend money that creates jobs and creates new economic exchanges further, and as a shareholder I capture that value back anyway. People should keep their spending at their social level if they want to keep the economy going smoothly.
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Three problems: 1. Switching costs. There are a ton of vending machines and other automated stuff that takes dollar bills but not coins. You can say “oh they’d switch”, and maybe, but they don’t want to because it’s expense and complexity for little/no benefit. 2. Critical mass. Similar problem: nobody will invest in supporting dollar coins as long as their customers don’t use dollar coins. Customers won’t use them b…
For many classes of vending machines, dollar bill support is going away without government intervention. For a while it's been very common in the US to see vending machines that have bill, maybe coin, and card options. It's increasingly common to find machines that only have card options, no cash. Products are more expensive and people use less cash generally...how many customers actually carry enough $1 bills to buy…
That's a very different thing in terms of switching costs than an immediate switch that demands replacement all at one time.
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> People spend more money and tip higher when they use credit cards than cash…. And you think that's a good thing?
I’m saying it doesn’t “hurt” the merchant
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And during the severe thunderstorms in Florida when everyone was coming to Orlando, places ran out of gas. We had an EV and charged at home. Are you going to get an EV too? Yes we keep some cash because we travel a lot and use cash for tips.
> And during the severe thunderstorms in Florida when everyone was coming to Orlando, places ran out of gas. We had an EV and charged at home. Having an electric vehicle is NOT the benefit you think it is here. You could just as easily have an internal combustion engine and spare fuel tanks. My car holds about 12 gallons of fuel and I have three 5-gallon fuel jugs ready to do. I use the fuel jugs for my lawnmower to…
We only had it for six months (SixT month to month car subscription) while trying to decide what our next move was. We didn’t know whether we were going to stay in Florida all year or travel half the year and rent our place out and stay at home half the year or not.
We had just come off of a year of doing the digital nomad thing and flying one way across the country.
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I have no idea what you're alluding to. Perhaps you need to increase the scope of your analysis?
> be wielded to further economically disenfranchise most people Is Big Corp really going out of its way to “disenfranchise” consumers to make it harder to give them money?
But the longer term disenfranchisement trend I see is making the numeric value of money itself ever more depreciated in favor of fine grained price discrimination. So it's not that it will be "harder to give them money", but rather that you will be paying twice as much (ie not receiving coupons/vouchers to obtain the real competitive price) based on them knowing that you personally will still buy.
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> My 2FA is my face… You have your threat model and I have mine. https://discussions.apple.com/thread/254303493?sortBy=rank Not enabling biometrics in the banking app means adding FaceID isn't enough. ¯\_(ツ)_/¯ > So the people who are too lazy to check their app are okay with going to an ATM? If we're at the point we're calling people names I'm not sure further discussion will be productive. The ATM is on the way to…
> You have your threat model and I have mine. Apple mitigated that issue last year. https://support.apple.com/en-us/120340 > The ATM is on the way to the subway (which has poor reception), and we're talking about once a month here. And my phone is always on my person. You don’t need “reception” to use your debit card. > Changing habits to spend less money works by using cash works in a way that I couldn't get to work…
That much is useful, thanks!
Why is the US one of the few countries that can't keep a consistent design across their bills and still does not have a way for blind people to identify which note they have. They are all the same size and have no embossed markings.
The $20 changed significantly in 1998 and had a refresh in 2004. 20 years of consistent design since then though.
And all the bills are the same shape, size, and color, other than war issues. Can't get more consistent than that.
Steve Wozniak (the Apple cofounder) famously bought sheets of $2 bills, and had a printer perforate and gum them into pads. So he could literally tear off $2 bills, in front of people who might not even know it was real currency, to pay them. https://web.archive.org/web/20180311084811/http://archive.wo...
I once found a pad of tear off $2 on the ground of the departures drop off at O’hare airport. I thought it was a novelty initially but after closer inspection found the bills to be real. It’s been a 20 year mystery to me how that came to be since I’ve never seen anything like it since. Now I’m wondering if I found Woz’s pad. That would be quite interesting because when I was very young I crank called him after findin…
6 repeating digits is quite impressive: maybe you could call again and ask if he was in Chicago around a certain date.