3 ms·

I feel like this fails to consider my own valuing of my time. Free Chocolate? Sure. 13¢ chocolate? I've gotta try to make change? An awkward amount no less. 3

by donatj 6mo ago

I feel like this fails to consider my own valuing of my time. Free Chocolate? Sure. 13¢ chocolate? I've gotta try to make change? An awkward amount no less. 3 pennies? They are getting hard to come by. I didn't even want a chocolate. I don't have any cash on me. Do you take card? For instance, when I'm buying something off Facebook marketplace, if the items not a multiple of $20 bills and $50 bills, the denominations I can get from the ATM, I'm far less likely to buy it because I have to stop somewhere else on my way to the seller and try and make change. It's a pain in the butt. I have literally overpaid for things from marketplace by a dollar or two to avoid making change. But if my only options are 1¢ chocolate versus 13¢ chocolate, those are on way closer footing because either way I have to dig my wallet out. I'd still take the Hershey kiss though because it tastes better.

djmips 6mo ago
precisely!
soperj 6mo ago
> the denominations I can get from the ATM Is this for real? We can request 5s and 10s from the atm, along with 20s and 50s.
- hawaiianbrah 6mo ago
  Many ATMs in the US just spit out 20s, though there are some where you can specify your bills.
Finbel 6mo ago
Sorry I'm from Sweden and our banks have a service called Swish where we can send money on the phone. Paying in cash is extremely uncommon now a days. Every time I've bought or sold something on FB Marketplace the last decade I've used Swish. I thought you had something similar called Venmo in the US?
- Aurornis 6mo ago
  Yes, we have phone-based payments in the US, too. Some people will want cash for in person transactions but it's more rare. In the US you run into a lot of people who don't trust phones, technology, tech companies, the government, or any other number of reasons to demand physical payments.
  - Alupis 6mo ago
    > Some people will want cash for in person transactions but it's more rare. In the US you run into a lot of people who don't trust phones, technology, tech companies, the government No, it's because majority of digital payment systems can be abused. Stolen accounts, payment disputes and more can cause a seller to lose the item and the money. Cash is very, very hard to counterfeit, and there's inexpensive devices[1] to virtually guarantee a bill is genuine. There's no post-transaction fraud scheme that works once cash had exchanged hands. [1] https://www.walmart.com/ip/PG-MONEY-TESTER-PEN/5487005062 https://www.walmart.com/ip/PG-MONEY-TESTER-PEN/5487005062
    - kube-system 6mo ago
      > There's no post-transaction fraud scheme that works once cash had exchanged hands. Yes but it is vulnerable to other fraud schemes, like misrepresentation or theft. But yeah, when faced with the possibility of fraud many people instinctively retreat from the unknown (technology) to the easily understood realities of cold hard cash. Its biggest advantage is ease of understanding.
      - Alupis 6mo ago
        I assert it's more than that. Even Zelle can be susceptible to post-transaction fraud schemes. Yes, someone can steal your cash - but they can also steal your item. Setting aside theft - cash is simply the most secure way to ensure you keep your money post-transaction. There is no fraud mechanism to abuse, and no way to reclaim cash once in-hand. For anything of value, the "old school" rules of meeting in a very public place and only accepting cash are still really sound.
pseudohadamard 6mo ago
Before people read too much into this, just be aware that Ariely has been caught out a number of times falsifying data or even making up entire studies that he then writes about in publications. Not saying this was the case here, but you'd want to look for corroboration in sources not involving him. TFA mentions a few, but most of it is from Ariely.

by donatj 6mo ago

djmips 6mo ago

precisely!

soperj 6mo ago

> the denominations I can get from the ATM Is this for real? We can request 5s and 10s from the atm, along with 20s and 50s.

hawaiianbrah 6mo ago
Many ATMs in the US just spit out 20s, though there are some where you can specify your bills.

Finbel 6mo ago

Sorry I'm from Sweden and our banks have a service called Swish where we can send money on the phone. Paying in cash is extremely uncommon now a days. Every time I've bought or sold something on FB Marketplace the last decade I've used Swish. I thought you had something similar called Venmo in the US?

Aurornis 6mo ago
Yes, we have phone-based payments in the US, too. Some people will want cash for in person transactions but it's more rare. In the US you run into a lot of people who don't trust phones, technology, tech companies, the government, or any other number of reasons to demand physical payments.
- Alupis 6mo ago
  > Some people will want cash for in person transactions but it's more rare. In the US you run into a lot of people who don't trust phones, technology, tech companies, the government No, it's because majority of digital payment systems can be abused. Stolen accounts, payment disputes and more can cause a seller to lose the item and the money. Cash is very, very hard to counterfeit, and there's inexpensive devices[1] to virtually guarantee a bill is genuine. There's no post-transaction fraud scheme that works once cash had exchanged hands. [1] https://www.walmart.com/ip/PG-MONEY-TESTER-PEN/5487005062 https://www.walmart.com/ip/PG-MONEY-TESTER-PEN/5487005062
  - kube-system 6mo ago
    > There's no post-transaction fraud scheme that works once cash had exchanged hands. Yes but it is vulnerable to other fraud schemes, like misrepresentation or theft. But yeah, when faced with the possibility of fraud many people instinctively retreat from the unknown (technology) to the easily understood realities of cold hard cash. Its biggest advantage is ease of understanding.
    - Alupis 6mo ago
      I assert it's more than that. Even Zelle can be susceptible to post-transaction fraud schemes. Yes, someone can steal your cash - but they can also steal your item. Setting aside theft - cash is simply the most secure way to ensure you keep your money post-transaction. There is no fraud mechanism to abuse, and no way to reclaim cash once in-hand. For anything of value, the "old school" rules of meeting in a very public place and only accepting cash are still really sound.

pseudohadamard 6mo ago

Before people read too much into this, just be aware that Ariely has been caught out a number of times falsifying data or even making up entire studies that he then writes about in publications. Not saying this was the case here, but you'd want to look for corroboration in sources not involving him. TFA mentions a few, but most of it is from Ariely.