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frankly I don't see why we even need coins at all. Talk about your waste of resources minting all of those. It was fine when a can of coke was 25 cents or when
by vaksel 16y ago
frankly I don't see why we even need coins at all. Talk about your waste of resources minting all of those. It was fine when a can of coke was 25 cents or when you could get a new car for 2 grand. But in this day and age? It's just a waste.
should just switch to a digital currency already...disposable credit cards that can transfer funds between each other.
- protomyth 16y agoWell, some people really like cash, and I still run into places, particularly in rural areas, where credit cards are only allowed on purchases over $20. The credit card fees are a great incentive to keep cash / coins.
- vaksel 16y agoI'd imagine the digital currency would be run by the government. So they'd be 'minting' these new cards, and as such there'd be no fees to talk about.
- swaits 16y agoBecause the government does everything else so well and it's all totally free!
- vaksel 16y agothat's what we have now... are you seriously suggesting that we should outsource the "minting" of our money? are you insane?
- whatusername 16y agothat's what we have now... (where do you think those credit cards come from) // Sorry - couldn't help myself.
- sethg 16y agoFrom the government’s point of view, there is no reason to make it easier for citizens to anonymously and untraceably send money to one another. It’s politically impossible for them to eliminate paper/metal cash, but they’re not going to make cash transactions any easier. (And any country whose central bank supports completely digital anonymous cash will suffer the fate of Nauru: first it will attract money launderers from all over the world, and then the world financial system will shut off all contact with it until it reforms.)
- graywh 16y agoVisa and MasterCard don't allow merchants to impose a minimum purchase requirement.
- winthrowe 16y agoIt may be against the terms of the merchant's agreement, but locally in eastern Canada it's quite common (for both debit and credit transactions), and (although I don't follow the issue closely) I've never heard of a lawsuit brought forth over it. I'm sure the CC companies would be up in arms if it were a national chain of some kind, but the little Mom'n'Pop restaurants and convenience stores seem to fly under the radar, even if that category may be large in aggregate.
- graywh 16y agoI've heard of places that lost the ability to accept VISA/MC payment for imposing their own minimum.
- protomyth 16y agoWell, I see it in ND and couple of other states, so something must allow it (probably state law).
- lukeqsee 16y agoWhile you have a point, there is a flipside, specifically regarding cash v credit/debit cards. 1. Privacy If you use a card for every transaction, then you can be tracked for every transaction. Simple as that. 2. Tangible spending If you have digital currency, it is often hard to mentally understand the value of money. Everything is equal; be it $10 or $1000. I value an hundred dollar bill much more than an hundred dollars in my bank account, and consequently am less likely to spend the bill. Digital currency has it's upsides. Let's remember there are real downsides as well.