what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

must be some positioning going on, competition to be in the G10 currencies of the future

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

The Rev Dodgson said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

If he doesn’t want them, I’ll look after them.

roughbarked said:

The Rev Dodgson said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

If he doesn’t want them, I’ll look after them.

Good of you, but surely too much of a task for one.

I’ll split them 50/50 with you.

The Rev Dodgson said:

roughbarked said:

The Rev Dodgson said:

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

If he doesn’t want them, I’ll look after them.

Good of you, but surely too much of a task for one.

I’ll split them 50/50 with you.

I don’t mind sharing.

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch

Ogmog said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch
  

Imagine what a blackout could do.

roughbarked said:

Ogmog said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch
  

Imagine what a blackout could do.

Probably should have put this in here.
This professor was invited to speak at a meeting of billionaire preppers. It got weird.

The Rev Dodgson said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

especially for those off the books jobs.

Ogmog said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch
  

Money is already 99% digitised through the banking system, whether you like it or not.

I don’t think so called crypto-currency has anything to do with it. It’s just a scam that will end badly sooner or later.

We do use digital currency all the time. Just not crypto.

ChrispenEvan said:

The Rev Dodgson said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

especially for those off the books jobs.

Well there is that, but it’s quite convenient (and saves costs) for small face to face transactions, whether you are evading tax or not.

The Rev Dodgson said:

ChrispenEvan said:

The Rev Dodgson said:

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

especially for those off the books jobs.

Well there is that, but it’s quite convenient (and saves costs) for small face to face transactions, whether you are evading tax or not.

I know quite a few who do draw the cash out rather than pay by card.

roughbarked said:

The Rev Dodgson said:

ChrispenEvan said:

especially for those off the books jobs.

Well there is that, but it’s quite convenient (and saves costs) for small face to face transactions, whether you are evading tax or not.

I know quite a few who do draw the cash out rather than pay by card.

I’ve been selling some stuff on marketplace recently in anticipation of moving. For small items I accept beer as currency.

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Non-government cryptos are too unstable to be a genuinely useful form of currency, and government digital currencies offer no real benefit to the consumer over the current way of doing things.

Ogmog said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch
  

Ummm modern fiat currencies like the AUD you use every day are not backed by gold or silver.

Witty Rejoinder said:

Ogmog said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch
  

Ummm modern fiat currencies like the AUD you use every day are not backed by gold or silver.

It has been a while since gold backed currency.

The Rev Dodgson said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

I don’t want to

the proposition is more a thought exercise, a hypothetical, i’d further add that consider there are forces at work to help the transition and transformation

consider that not a few countries are bust really, surely a transition to digital currency might be opportune time for some debt forgiveness and refinancing, with terms of course

The Rev Dodgson said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

Particularly if you want to spend a penny.

Peak Warming Man said:

The Rev Dodgson said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Why do you want to get rid of physical monetary tokens?

They can be quite useful at times.

Particularly if you want to spend a penny.

You have to spend at least 5 pennies these days.

roughbarked said:

Witty Rejoinder said:

Ogmog said:

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch
  

Ummm modern fiat currencies like the AUD you use every day are not backed by gold or silver.

It has been a while since gold backed currency.

…well…
…the gold musta’ went SOMEWHERE

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Early on in bitcoins rise, the Cyprus government had blown their budget and started drafting a law to raid the bank accounts of their citizens. Their citizens then emptied their bank accounts and transferred their wealth elsewhere, the price of bitcoin shot up as it’s safe from crooked governments.

Bitcoin also has the advantage of being able to transfer wealth from one user to another without someone else taking a cut just because they hold the money (though there is a small fee to the person who processes the transaction).

As mentioned above, the price can be quite volatile, but is stabilising as more people are using it. There are some account holder with huge sums, and their big transactions make substantial changes to the price.

I see it not as a replacement, but more of an alternative financial tool.

Ogmog said:

roughbarked said:

Witty Rejoinder said:

Ummm modern fiat currencies like the AUD you use every day are not backed by gold or silver.

It has been a while since gold backed currency.

…well…
…the gold musta’ went SOMEWHERE

What if in the future when we asteroid mine we find large amounts of valuable rare (on Earth) ore, should it be tickled into the economy or put to use large scale
Gold for example used for its properties as a replacement for something less useful but more abundant.

Bunny_Fugger said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Early on in bitcoins rise, the Cyprus government had blown their budget and started drafting a law to raid the bank accounts of their citizens. Their citizens then emptied their bank accounts and transferred their wealth elsewhere, the price of bitcoin shot up as it’s safe from crooked governments.

Bitcoin also has the advantage of being able to transfer wealth from one user to another without someone else taking a cut just because they hold the money (though there is a small fee to the person who processes the transaction).

As mentioned above, the price can be quite volatile, but is stabilising as more people are using it. There are some account holder with huge sums, and their big transactions make substantial changes to the price.

I see it not as a replacement, but more of an alternative financial tool.

was thinking this
https://en.wikipedia.org/wiki/Ripple_(payment_protocol)

roughbarked said:

The Rev Dodgson said:

ChrispenEvan said:

especially for those off the books jobs.

Well there is that, but it’s quite convenient (and saves costs) for small face to face transactions, whether you are evading tax or not.

I know quite a few who do draw the cash out rather than pay by card.

this is a generational thing, all but one of my friends use card exclusively.

Digital currency (digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency. Digital currency may be recorded on a distributed database on the internet, a centralized electronic computer database owned by a company or bank, within digital files or even on a stored-value card.

Most of the traditional money supply is bank money held on computers. They are considered digital currency in some cases. One could argue that our increasingly cashless society means that all currencies are becoming digital currencies, but they are not presented to us as such.

——

transition said:

Bunny_Fugger said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Early on in bitcoins rise, the Cyprus government had blown their budget and started drafting a law to raid the bank accounts of their citizens. Their citizens then emptied their bank accounts and transferred their wealth elsewhere, the price of bitcoin shot up as it’s safe from crooked governments.

Bitcoin also has the advantage of being able to transfer wealth from one user to another without someone else taking a cut just because they hold the money (though there is a small fee to the person who processes the transaction).

As mentioned above, the price can be quite volatile, but is stabilising as more people are using it. There are some account holder with huge sums, and their big transactions make substantial changes to the price.

I see it not as a replacement, but more of an alternative financial tool.

was thinking this
https://en.wikipedia.org/wiki/Ripple_(payment_protocol)

been reading about this also
https://en.wikipedia.org/wiki/Over-the-counter_(finance)

You wonder with digitised money, stocks, etc if humans will be left out of the loop as AI’s designed to buy and sell (manipulate and steal as well) outclass us.

Cymek said:

You wonder with digitised money, stocks, etc if humans will be left out of the loop as AI’s designed to buy and sell (manipulate and steal as well) outclass us.

i’m sure there’s very large computers working on stuff right this moment, for the good of all of course, high probability you have money invested with, just unawares

Arts said:

roughbarked said:

The Rev Dodgson said:

Well there is that, but it’s quite convenient (and saves costs) for small face to face transactions, whether you are evading tax or not.

I know quite a few who do draw the cash out rather than pay by card.

this is a generational thing, all but one of my friends use card exclusively.

I’m a card only user.

transition said:

Cymek said:

You wonder with digitised money, stocks, etc if humans will be left out of the loop as AI’s designed to buy and sell (manipulate and steal as well) outclass us.

i’m sure there’s very large computers working on stuff right this moment, for the good of all of course, high probability you have money invested with, just unawares

I think so
Could be a terrific weapon of war, release an AI into the wild to crash stock markets, give it a decade or two for them to become advanced enough.

ChrispenEvan said:

Arts said:

roughbarked said:

I know quite a few who do draw the cash out rather than pay by card.

this is a generational thing, all but one of my friends use card exclusively.

I’m a card only user.

Card or phone, rarely have cash unless someone gives me some.

Cymek said:

transition said:

Cymek said:

You wonder with digitised money, stocks, etc if humans will be left out of the loop as AI’s designed to buy and sell (manipulate and steal as well) outclass us.

i’m sure there’s very large computers working on stuff right this moment, for the good of all of course, high probability you have money invested with, just unawares

I think so
Could be a terrific weapon of war, release an AI into the wild to crash stock markets, give it a decade or two for them to become advanced enough.

crashes get wargamed, for sure, have been, part of modeling risk

ChrispenEvan said:

Arts said:

roughbarked said:

I know quite a few who do draw the cash out rather than pay by card.

this is a generational thing, all but one of my friends use card exclusively.

I’m a card only user.

I’m a coin collector. Cash gets me quite a number of coins.

ChrispenEvan said:

Arts said:

roughbarked said:

I know quite a few who do draw the cash out rather than pay by card.

this is a generational thing, all but one of my friends use card exclusively.

I’m a card only user.

I only use my phone… but this is not a competition

Bunny_Fugger said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Early on in bitcoins rise, the Cyprus government had blown their budget and started drafting a law to raid the bank accounts of their citizens. Their citizens then emptied their bank accounts and transferred their wealth elsewhere, the price of bitcoin shot up as it’s safe from crooked governments.

Bitcoin also has the advantage of being able to transfer wealth from one user to another without someone else taking a cut just because they hold the money (though there is a small fee to the person who processes the transaction).

As mentioned above, the price can be quite volatile, but is stabilising as more people are using it. There are some account holder with huge sums, and their big transactions make substantial changes to the price.

I see it not as a replacement, but more of an alternative financial tool.

The problem is, it costs a lot of money to generate this money.

Where does that money come from?

I pay cash, particularly at the checkout.
I rummage through my wallet for the correct money and then in my fob pocket for the right small change and count it out on the counter provided.
I count it out several times and add and subtract 5 cent pieces at random.

Peak Warming Man said:

I pay cash, particularly at the checkout.
I rummage through my wallet for the correct money and then in my fob pocket for the right small change and count it out on the counter provided.
I count it out several times and add and subtract 5 cent pieces at random.

I like listening to the stories of old people when they do this… they usually start with a long forgotten sweet memory and end with “.. and that’s why we have an onion on our belt.”

ChrispenEvan said:

Arts said:

roughbarked said:

I know quite a few who do draw the cash out rather than pay by card.

this is a generational thing, all but one of my friends use card exclusively.

I’m a card only user.

Well I’m going to keep frequenting the best pizza shop in town, even if he is cash only.

One of my mates is a card carrying shopper.

Peak Warming Man said:

I pay cash, particularly at the checkout.
I rummage through my wallet for the correct money and then in my fob pocket for the right small change and count it out on the counter provided.
I count it out several times and add and subtract 5 cent pieces at random.

Like a gauche sobriquet.

The Rev Dodgson said:

ChrispenEvan said:

Arts said:

this is a generational thing, all but one of my friends use card exclusively.

I’m a card only user.

Well I’m going to keep frequenting the best pizza shop in town, even if he is cash only.

You’re enabling money laundering and damn good pizza you know!

Peak Warming Man said:

I pay cash, particularly at the checkout.
I rummage through my wallet for the correct money and then in my fob pocket for the right small change and count it out on the counter provided.
I count it out several times and add and subtract 5 cent pieces at random.

When the queue behind me is sufficiently long and restless I conclude the transaction.

Witty Rejoinder said:

The Rev Dodgson said:

ChrispenEvan said:

I’m a card only user.

Well I’m going to keep frequenting the best pizza shop in town, even if he is cash only.

You’re enabling money laundering and damn good pizza you know!

Maybe.

Or maybe I’m just letting him make a little extra profit on each transaction.

The Rev Dodgson said:

Witty Rejoinder said:

The Rev Dodgson said:

Well I’m going to keep frequenting the best pizza shop in town, even if he is cash only.

You’re enabling money laundering and damn good pizza you know!

Maybe.

Or maybe I’m just letting him make a little extra profit on each transaction.

Strange business where crime is the only way to stay profitable.

Peak Warming Man said:

I pay cash, particularly at the checkout.
I rummage through my wallet for the correct money and then in my fob pocket for the right small change and count it out on the counter provided.
I count it out several times and add and subtract 5 cent pieces at random.

I use a credit card most of the time, but always have a few pineapples in the wallet for those times when “the machine is down” or the occasional garage sale.

While a well implemented digital currency could conceivably work very well and be very convenient for a lot of people, I am not sure having a permanent record of that $100 payment to that dodgy character in the pub is a good selling point.

Dark Orange said:

Peak Warming Man said:

I pay cash, particularly at the checkout.
I rummage through my wallet for the correct money and then in my fob pocket for the right small change and count it out on the counter provided.
I count it out several times and add and subtract 5 cent pieces at random.

I use a credit card most of the time, but always have a few pineapples in the wallet for those times when “the machine is down” or the occasional garage sale.

While a well implemented digital currency could conceivably work very well and be very convenient for a lot of people, I am not sure having a permanent record of that $100 payment to that dodgy character in the pub is a good selling point.

so many possibilities… so little time…

ChrispenEvan said:

Arts said:

roughbarked said:

I know quite a few who do draw the cash out rather than pay by card.

this is a generational thing, all but one of my friends use card exclusively.

I’m a card only user.

Same.

Peak Warming Man said:

I pay cash, particularly at the checkout.
I rummage through my wallet for the correct money and then in my fob pocket for the right small change and count it out on the counter provided.
I count it out several times and add and subtract 5 cent pieces at random.

Try switching to preliterate Sumerian trade tokens, I think Woolies still take them

dv said:

ChrispenEvan said:

Arts said:

this is a generational thing, all but one of my friends use card exclusively.

I’m a card only user.

Same.

I rarely even carry a card, just use my phone.

The Rev Dodgson said:

Bunny_Fugger said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

Early on in bitcoins rise, the Cyprus government had blown their budget and started drafting a law to raid the bank accounts of their citizens. Their citizens then emptied their bank accounts and transferred their wealth elsewhere, the price of bitcoin shot up as it’s safe from crooked governments.

Bitcoin also has the advantage of being able to transfer wealth from one user to another without someone else taking a cut just because they hold the money (though there is a small fee to the person who processes the transaction).

As mentioned above, the price can be quite volatile, but is stabilising as more people are using it. There are some account holder with huge sums, and their big transactions make substantial changes to the price.

I see it not as a replacement, but more of an alternative financial tool.

The problem is, it costs a lot of money to generate this money.

Where does that money come from?

The same place all wealth does. The amount one man can produce on one hectare in one day, divided by the currency of the day.

I could ask the same question about owning a $50 note.

Bunny_Fugger said:

The Rev Dodgson said:

Bunny_Fugger said:

Early on in bitcoins rise, the Cyprus government had blown their budget and started drafting a law to raid the bank accounts of their citizens. Their citizens then emptied their bank accounts and transferred their wealth elsewhere, the price of bitcoin shot up as it’s safe from crooked governments.

Bitcoin also has the advantage of being able to transfer wealth from one user to another without someone else taking a cut just because they hold the money (though there is a small fee to the person who processes the transaction).

As mentioned above, the price can be quite volatile, but is stabilising as more people are using it. There are some account holder with huge sums, and their big transactions make substantial changes to the price.

I see it not as a replacement, but more of an alternative financial tool.

The problem is, it costs a lot of money to generate this money.

Where does that money come from?

The same place all wealth does. The amount one man can produce on one hectare in one day, divided by the currency of the day.

I could ask the same question about owning a $50 note.

It costs next to nothing to print a $50 note, and governments have other income to cover that cost.

The people who generate bitcoins do it for the sole purpose of making money, so it is totally different from government generated money.

Witty Rejoinder said:

The Rev Dodgson said:

Witty Rejoinder said:

You’re enabling money laundering and damn good pizza you know!

Maybe.

Or maybe I’m just letting him make a little extra profit on each transaction.

Strange business where crime is the only way to stay profitable.

Merchant pays for each transaction, you know.

buffy said:

Witty Rejoinder said:

The Rev Dodgson said:

Maybe.

Or maybe I’m just letting him make a little extra profit on each transaction.

Strange business where crime is the only way to stay profitable.

Merchant pays for each transaction, you know.

Card transactions, that is. Cash transactions don’t cost the merchant. So there is your “little extra profit”.

sibeen said:

dv said:

ChrispenEvan said:

I’m a card only user.

Same.

I rarely even carry a card, just use my phone.

Same.

Daug uses a smartwatch but I think they are kind of awful looking. I guess it’s a good idea if you don’t have pockets or handbag.

buffy said:

Witty Rejoinder said:

The Rev Dodgson said:

Maybe.

Or maybe I’m just letting him make a little extra profit on each transaction.

Strange business where crime is the only way to stay profitable.

Merchant pays for each transaction, you know.

many of them pass that on to the consumer

dv said:

sibeen said:

dv said:

Same.

I rarely even carry a card, just use my phone.

Same.

Daug uses a smartwatch but I think they are kind of awful looking. I guess it’s a good idea if you don’t have pockets or handbag.

isn’t she still carrying her phone though?

I only carry my phone these days, but I usually have a pocket to put it in.. I do have about $20 stashed in the back of the cover just in case I need money (usually this only happens with stupid parking meters that are unable to scan the phone like a regular vendor… )

Arts said:

buffy said:

Witty Rejoinder said:

Strange business where crime is the only way to stay profitable.

Merchant pays for each transaction, you know.

many of them pass that on to the consumer

They all pass it on to the consumer.

Many fail to pass on the saving if you pay cash.

The Rev Dodgson said:

Bunny_Fugger said:

The Rev Dodgson said:

The problem is, it costs a lot of money to generate this money.

Where does that money come from?

The same place all wealth does. The amount one man can produce on one hectare in one day, divided by the currency of the day.

I could ask the same question about owning a $50 note.

It costs next to nothing to print a $50 note, and governments have other income to cover that cost.

The people who generate bitcoins do it for the sole purpose of making money, so it is totally different from government generated money.

The government doesn’t hand out money for free, it costs Joe Public the same to own a $50 note as it does to own $50 worth of bitcoin.
Once in circulation, they are both just a token of trade.

If I worked for the government, I’d be doing it for the sole purpose of getting $50 notes. The government makes $50 notes for the purpose of getting $50 worth of work done for them(profit).

PS, I’m enjoying this debate, it’s keeping my brain active while I’m driving the bobcat. :)

my point was to remain aware of the coin dropping into the lap of the flim-flam man

As for myself:
other than the wad of $1s I use to tip delivery persons etc.
and silver coins for parking meters …

I hardly ever see any cash whatsoever as any monies coming my way
gets deposited directly into my bank account from thence it gets doled out
via a trusted 3rd party middle-man directly into the account of service providers.

Although I own a PP Credit Card I’ve yet to use it.
since more & more merchants are now accepting PayPal
it’s a cinch to simply CLICK the PayPal option during checkout,
that way the money goes DIRECTLY from My Bank to Theirs without
ever having to physically touch the filthy stuff WITHOUT INTEREST or FEES

Ogmog said:

my point was to remain aware of the coin dropping into the lap of the flim-flam man

As for myself:
other than the wad of $1s I use to tip delivery persons etc.
and silver coins for parking meters …

I hardly ever see any cash whatsoever as any monies coming my way
gets deposited directly into my bank account from thence it gets doled out
via a trusted 3rd party middle-man directly into the account of service providers.

Although I own a PP Credit Card I’ve yet to use it.
since more & more merchants are now accepting PayPal
it’s a cinch to simply CLICK the PayPal option during checkout,
that way the money goes DIRECTLY from My Bank to Theirs without
ever having to physically touch the filthy stuff WITHOUT INTEREST or FEES

How do PayPal make any money if they don’t charge fees?

The Rev Dodgson said:

Ogmog said:

my point was to remain aware of the coin dropping into the lap of the flim-flam man

As for myself:
other than the wad of $1s I use to tip delivery persons etc.
and silver coins for parking meters …

I hardly ever see any cash whatsoever as any monies coming my way
gets deposited directly into my bank account from thence it gets doled out
via a trusted 3rd party middle-man directly into the account of service providers.

Although I own a PP Credit Card I’ve yet to use it.
since more & more merchants are now accepting PayPal
it’s a cinch to simply CLICK the PayPal option during checkout,
that way the money goes DIRECTLY from My Bank to Theirs without
ever having to physically touch the filthy stuff WITHOUT INTEREST or FEES

How do PayPal make any money if they don’t charge fees?

The merchant pays a small fee to be paid by PayPal.

Bubblecar said:

The Rev Dodgson said:

Ogmog said:

my point was to remain aware of the coin dropping into the lap of the flim-flam man

As for myself:
other than the wad of $1s I use to tip delivery persons etc.
and silver coins for parking meters …

I hardly ever see any cash whatsoever as any monies coming my way
gets deposited directly into my bank account from thence it gets doled out
via a trusted 3rd party middle-man directly into the account of service providers.

Although I own a PP Credit Card I’ve yet to use it.
since more & more merchants are now accepting PayPal
it’s a cinch to simply CLICK the PayPal option during checkout,
that way the money goes DIRECTLY from My Bank to Theirs without
ever having to physically touch the filthy stuff WITHOUT INTEREST or FEES

How do PayPal make any money if they don’t charge fees?

The merchant pays a small fee to be paid by PayPal.

…and some merchants pass on that fee to the customer as a little PayPal surcharge.

Bubblecar said:

Bubblecar said:

The Rev Dodgson said:

How do PayPal make any money if they don’t charge fees?

The merchant pays a small fee to be paid by PayPal.

…and some merchants pass on that fee to the customer as a little PayPal surcharge.

So just like credit cards then.

Ogmog said:

my point was to remain aware of the coin dropping into the lap of the flim-flam man

As for myself:
other than the wad of $1s I use to tip delivery persons etc.
and silver coins for parking meters …

I hardly ever see any cash whatsoever as any monies coming my way
gets deposited directly into my bank account from thence it gets doled out
via a trusted 3rd party middle-man directly into the account of service providers.

Although I own a PP Credit Card I’ve yet to use it.
since more & more merchants are now accepting PayPal
it’s a cinch to simply CLICK the PayPal option during checkout,
that way the money goes DIRECTLY from My Bank to Theirs without
ever having to physically touch the filthy stuff WITHOUT INTEREST or FEES

I forgot to mention that that includes my rent, internet, & all utilities
not to mention about anything I can imagine via AMAZON & e-Bay
magically delivered directly to my front door … free of charge …

If I could only WISH for MORE Money DIRECTLY DEPOSITED
it would almost be like shopping via Aladdin’s Lamp…
AH! But THERE’S The RUB (pun intended)
The stipulation w/Aladdin’s Lamp was the
Inability to Wish For MORE Wishes

…any way…
It’s a cinch to set up the accounts with my bank so I needn’t worry
about any re-occurring bills… no stamps/envelopes/fees etc.
and my AMAZON & e-Bay accounts (again, No Fee, Interest or sweat)
and as I said, most merchants now offer/accept PayPal payment options.

Ogmog said:

Ogmog said:

my point was to remain aware of the coin dropping into the lap of the flim-flam man

As for myself:
other than the wad of $1s I use to tip delivery persons etc.
and silver coins for parking meters …

I hardly ever see any cash whatsoever as any monies coming my way
gets deposited directly into my bank account from thence it gets doled out
via a trusted 3rd party middle-man directly into the account of service providers.

Although I own a PP Credit Card I’ve yet to use it.
since more & more merchants are now accepting PayPal
it’s a cinch to simply CLICK the PayPal option during checkout,
that way the money goes DIRECTLY from My Bank to Theirs without
ever having to physically touch the filthy stuff WITHOUT INTEREST or FEES

I forgot to mention that that includes my rent, internet, & all utilities
not to mention about anything I can imagine via AMAZON & e-Bay
magically delivered directly to my front door … free of charge …

If I could only WISH for MORE Money DIRECTLY DEPOSITED
it would almost be like shopping via Aladdin’s Lamp…
AH! But THERE’S The RUB (pun intended)
The stipulation w/Aladdin’s Lamp was the
Inability to Wish For MORE Wishes

…any way…
It’s a cinch to set up the accounts with my bank so I needn’t worry
about any re-occurring bills… no stamps/envelopes/fees etc.
and my AMAZON & e-Bay accounts (again, No Fee, Interest or sweat)
and as I said, most merchants now offer/accept PayPal payment options.

So why pay things like rent with this card, when someone somewhere has to pay a fee, rather than do it through direct bank transfer, where no-one pays an extra fee?

…also fergot to mention that I carry a Bank DEBIT CARD…
for the occasions that I make small purchases from
merchants that don’t accept PayPal…
…and again…
without interest or fees

MONEY IN / MONEY OUT
Just like Magic

The Rev Dodgson said:

So why pay things like rent with this card, when someone somewhere has to pay a fee, rather than do it through direct bank transfer, where no-one pays an extra fee?

doano
I only know that I never ever get charged for the direct payments for rent/utilities/or purchases
I just watch my OnLine Bank Statements to make sure to never Over Draw my Bank Account
then let the chips fly where they may

Ogmog said:

my point was to remain aware of the coin dropping into the lap of the flim-flam man

As for myself:
other than the wad of $1s I use to tip delivery persons etc.
and silver coins for parking meters …

I hardly ever see any cash whatsoever as any monies coming my way
gets deposited directly into my bank account from thence it gets doled out
via a trusted 3rd party middle-man directly into the account of service providers.

Although I own a PP Credit Card I’ve yet to use it.
since more & more merchants are now accepting PayPal
it’s a cinch to simply CLICK the PayPal option during checkout,
that way the money goes DIRECTLY from My Bank to Theirs without
ever having to physically touch the filthy stuff WITHOUT INTEREST or FEES

Parking runs from an app here, called easypark

Ogmog said:

The Rev Dodgson said:

So why pay things like rent with this card, when someone somewhere has to pay a fee, rather than do it through direct bank transfer, where no-one pays an extra fee?

doano
I only know that I never ever get charged for the direct payments for rent/utilities/or purchases
I just watch my OnLine Bank Statements to make sure to never Over Draw my Bank Account
then let the chips fly where they may

Just like with a credit card.

The Rev Dodgson said:

Ogmog said:

The Rev Dodgson said:

So why pay things like rent with this card, when someone somewhere has to pay a fee, rather than do it through direct bank transfer, where no-one pays an extra fee?

doano
I only know that I never ever get charged for the direct payments for rent/utilities/or purchases
I just watch my OnLine Bank Statements to make sure to never Over Draw my Bank Account
then let the chips fly where they may

Just like with a credit card.

The Internet says:

In general, PayPal has higher fees than credit cards, but it’s also more convenient, especially when there are a lot of transactions involved.

I really don’t see how it is more convenient though.

The Rev Dodgson said:

Ogmog said:

The Rev Dodgson said:

So why pay things like rent with this card, when someone somewhere has to pay a fee, rather than do it through direct bank transfer, where no-one pays an extra fee?

doano
I only know that I never ever get charged for the direct payments for rent/utilities/or purchases
I just watch my OnLine Bank Statements to make sure to never Over Draw my Bank Account
then let the chips fly where they may

Just like with a credit card.

Not quite.
No consumer protection – if the item you buy doesn’t turn up, tough luck.
Your own money – if your card is stolen/compromised and your account cleared out, it will be months before you get the money back. If a CC, you just get on with your life and use your own money to buy food.

While you can get by with PayPal and a debit card, it is a nightmare if something goes wrong.

The Rev Dodgson said:

The Rev Dodgson said:

Ogmog said:

doano
I only know that I never ever get charged for the direct payments for rent/utilities/or purchases
I just watch my OnLine Bank Statements to make sure to never Over Draw my Bank Account
then let the chips fly where they may

Just like with a credit card.

The Internet says:

In general, PayPal has higher fees than credit cards, but it’s also more convenient, especially when there are a lot of transactions involved.

I really don’t see how it is more convenient though.

me neither. i use my debit card for most online buys. sometimes it is paypal but i am not a member, or whatever you are with them. sometime a bank transfer. never get directly charged but realise i pay for it somewhere along the line.

The Rev Dodgson said:

The Rev Dodgson said:

Ogmog said:

doano
I only know that I never ever get charged for the direct payments for rent/utilities/or purchases
I just watch my OnLine Bank Statements to make sure to never Over Draw my Bank Account
then let the chips fly where they may

Just like with a credit card.

The Internet says:

In general, PayPal has higher fees than credit cards, but it’s also more convenient, especially when there are a lot of transactions involved.

I really don’t see how it is more convenient though.

You don’t need to apply for a credit card or watch your spending – just give them complete access to your bank account and there you are. If you are happy for a company to withdraw whatever they want from your bank account whenever they want, they you’re a braver person than I.

Dark Orange said:

The Rev Dodgson said:

The Rev Dodgson said:

Just like with a credit card.

The Internet says:

In general, PayPal has higher fees than credit cards, but it’s also more convenient, especially when there are a lot of transactions involved.

I really don’t see how it is more convenient though.

You don’t need to apply for a credit card or watch your spending – just give them complete access to your bank account and there you are. If you are happy for a company to withdraw whatever they want from your bank account whenever they want, they you’re a braver person than I.

I’ve had a PayPal account for nearly twenty years without any problems (that I recall), which is not to say they don’t happen.

Bubblecar said:

Dark Orange said:

The Rev Dodgson said:

The Internet says:

In general, PayPal has higher fees than credit cards, but it’s also more convenient, especially when there are a lot of transactions involved.

I really don’t see how it is more convenient though.

You don’t need to apply for a credit card or watch your spending – just give them complete access to your bank account and there you are. If you are happy for a company to withdraw whatever they want from your bank account whenever they want, they you’re a braver person than I.

I’ve had a PayPal account for nearly twenty years without any problems (that I recall), which is not to say they don’t happen.

same / same
been using PP for 15 years
and you have access to your account
that works even better than my bank’s statements
and if & when anything goes wrong through a purchase
PP is an additional layer of insurance that you get your money back
while PP deals with the merchants on your behalf …as does e-Bay btw…

What soured me on Credit Cards was purchasing a largish flat screen TV & stand
soundbar & subwoofer… lock-stock & barrel it came to $700 so I figured I’d pay “on time”
Since it wasn’t a hardship, I chose to pay TWICE the monthly payment to get it done faster.
Where it all went wonky was when I noticed that every $100 payment only $60 came off the bill!
What tore it was in spite of questioning both merchant & card company no explanation was forthcoming
the final outcome was paying the $700 in 1/2 the time I wound up paying almost $1,000 for a $700 purchase.

Went back to what dear old mom taught me as a child: don’t buy more than you can afford, …AND SAVE FOR IT.
Lesson learnt… I’m saving to replace my bedroom flatscreen. By X-Mas I’ll make the one time payment thru PayPal.

Ogmog said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch
  

Mrs m doesn’t trust any currency that can be accessed with a mobile phone.

mollwollfumble said:

Ogmog said:

transition said:

what might the optimum conditions be for the transition, or transformation if you will, and what sort of encouragements might be used

no way
call me old fashioned
but I refuse to trust any currency
that isn’t backed by solid silver or gold

• I’ll be dammed if
  I’d trust crypto crap
  that can vanish w/
  the flip of a switch
  

Mrs m doesn’t trust any currency that can be accessed with a mobile phone.

So you don’t have any bank accounts, or other savings accounts then?