How is it absurd? When land is cheap you can use some for a landfill, when land is expensive you may never make enough money on the landfill to pay for the land you use. If the landfill will not be profitable you won't do it.
I would be more likely to pay cash for a car than fruit. For the car I likely have to go to the bank anyway for a bankcheck, so I might as well use cash.
Then why do I not see the same behavior in stores?
Gas stations I believe are generally allowed to do that only on gas by contract. Go check what they do for candy bars.
I imagine many people like me spend $40 total per month on gasoline. Which means even at $2/gallon prices only saving $7.20 yearly, which seems to not be worth bothering with cash.
Cool, then I won't make a $200 purchase either. No problem.
Stores for exactly the reason I listed do want $2 credit card users. They are the same people who make bigger purchases. Short of some rare occasions I don't carry cash. So I am not raising a stink, just walking out since I can't pay.
Oh noes, I shall have to find another store! Perhaps order something online and have it shipped right to my home or office!
Unless this leads to reduced costs I would not give a damn. If this does not reduce the prices in the store, then it makes no difference to me.
I would be fine with even a tax paid for system to replace credit cards, but I will still use the credit card if I make out the best that way. That the merchant can't instead of won't give a discount for none credit card users does not matter to me.
So you would still need to make those kinds of contracts illegal.
Why do I care about the merchant again? I am not here to make him money. If I can give him $100 and take $1 back vs giving him $100 and $0 back I know which I will select.
Most people should learn discipline. They should teach their children early. If you learn young it is easier.
A credit card cannot cost you money, it is not going out buying things while you are at work. It is not failing to make full payments each month. No matter if you are spending cash, debit, using checks or credit cards, you have to know how much you are spending.
This is very simple, watch close! 1. On payday move all money into interest bearing account. 2. Figure out amount you are willing to spend this pay period. 3. spend amount from #2 during the pay period 4. Following payday: Pay off credit card. 5. rinse and repeat 6. at some point, spend all those points
Sure you could end up having to carry a blanace and pay interest if you have low income and high costs some month. Shit happens, but that would happen with the credit card use or not.
A 3% charge is likely less than the cost of dealing with cash. It must be counted, moved to the bank, change must be brought back to the store and so on. It is also easy lost or stolen.
Lets not pretend CCs offer no value to the store.
Actually most places have made those clauses illegal or such that while they cannot have a free for CC use they can offer a rebate to cash customers.
1. There are lots of way to do exactly that. Paypal for one. There are even swipe attachments for smartphones.
2. It sounds like this card may not crack that nut. Since it sends cardID during the transaction you will have to replace cards frequently and never use them to pay something like a bill that shows who you are.
3. this will have to have some fees. Even if taxes pay them.
4. This is an advantage not a downside. If I get home and my widget is broken and you refuse to replace it I get my money back. Cash has no such property. If I falsely make a chargeback there are dispute resolution methods available.
The article claims this to be an anonymous transfer method.
Also, you can always get foreign currency or gold, or silver, or some standard good. In some prisons canned fish became currency among prisoners because they were not allowed cash and no one wanted to eat the canteen's canned fish. So long as their are goods and services people want to buy without traceability they will find a way.
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How is it absurd?
When land is cheap you can use some for a landfill, when land is expensive you may never make enough money on the landfill to pay for the land you use. If the landfill will not be profitable you won't do it.
That's Iceland.
The only thing shattered here is your ignorance.
So we have an unlimited amount of landfill space?
Penn & Teller are willing to store all of this for us?
Great, so you can use 1/4-1/8 of your CPU. That sure seems like quality software.
I would be more likely to pay cash for a car than fruit.
For the car I likely have to go to the bank anyway for a bankcheck, so I might as well use cash.
I pay no interest as I pay off the balance in the grace period. I have 28 days before interest begins to accrue.
Then why do I not see the same behavior in stores?
Gas stations I believe are generally allowed to do that only on gas by contract. Go check what they do for candy bars.
I imagine many people like me spend $40 total per month on gasoline. Which means even at $2/gallon prices only saving $7.20 yearly, which seems to not be worth bothering with cash.
I thought the 2010 credit card reform stopped that.
I agree on that one.
I also shy away from it since you can't chargeback and no rewards. If they offered a discount I would use it.
I can't get the money back any other way.
No matter what I do it costs the same so I might as well use the CC.
Classic tragedy of the commons. Only regulation can solve that. The regulation needs to allow different prices for different payment methods.
Sure and I support that move.
This does not seem to fix that problem at all. Credit cards will still be in use doing their evil.
So then people will place the item in the microwave for a couple seconds, or use gold, or silver, or shiny rocks or bottle caps.
So trip to orbit includes free drugs? Sign me up!
Can't happen.
Prisons prove this. They find some good to use as currency.
So how do you buy something larger than $50?
You have to change payment methods?
I get charged $0.50 when I use my debit card. So I never use it as debit.
Cool, then I won't make a $200 purchase either.
No problem.
Stores for exactly the reason I listed do want $2 credit card users. They are the same people who make bigger purchases. Short of some rare occasions I don't carry cash. So I am not raising a stink, just walking out since I can't pay.
Oh noes, I shall have to find another store!
Perhaps order something online and have it shipped right to my home or office!
Unless this leads to reduced costs I would not give a damn. If this does not reduce the prices in the store, then it makes no difference to me.
I would be fine with even a tax paid for system to replace credit cards, but I will still use the credit card if I make out the best that way. That the merchant can't instead of won't give a discount for none credit card users does not matter to me.
So you would still need to make those kinds of contracts illegal.
Why do I care about the merchant again?
I am not here to make him money. If I can give him $100 and take $1 back vs giving him $100 and $0 back I know which I will select.
Then as I cannot avoid the increased markup, my way is still the best.
I am not here to make someone else money.
Most people should learn discipline. They should teach their children early. If you learn young it is easier.
A credit card cannot cost you money, it is not going out buying things while you are at work. It is not failing to make full payments each month. No matter if you are spending cash, debit, using checks or credit cards, you have to know how much you are spending.
This is very simple, watch close!
1. On payday move all money into interest bearing account.
2. Figure out amount you are willing to spend this pay period.
3. spend amount from #2 during the pay period
4. Following payday: Pay off credit card.
5. rinse and repeat
6. at some point, spend all those points
Sure you could end up having to carry a blanace and pay interest if you have low income and high costs some month. Shit happens, but that would happen with the credit card use or not.
TLDR: Spend less money than you make.
So issue limited edition MintChips, and let the nuts collect those.
A 3% charge is likely less than the cost of dealing with cash. It must be counted, moved to the bank, change must be brought back to the store and so on. It is also easy lost or stolen.
Lets not pretend CCs offer no value to the store.
Actually most places have made those clauses illegal or such that while they cannot have a free for CC use they can offer a rebate to cash customers.
1. There are lots of way to do exactly that. Paypal for one. There are even swipe attachments for smartphones.
2. It sounds like this card may not crack that nut. Since it sends cardID during the transaction you will have to replace cards frequently and never use them to pay something like a bill that shows who you are.
3. this will have to have some fees. Even if taxes pay them.
4. This is an advantage not a downside. If I get home and my widget is broken and you refuse to replace it I get my money back. Cash has no such property. If I falsely make a chargeback there are dispute resolution methods available.
The article claims this to be an anonymous transfer method.
Also, you can always get foreign currency or gold, or silver, or some standard good. In some prisons canned fish became currency among prisoners because they were not allowed cash and no one wanted to eat the canteen's canned fish. So long as their are goods and services people want to buy without traceability they will find a way.
If you can buy the card with cash, it seems pretty anonymous.
Same as burner phones.