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Senior Member
The main theme of cryptocurrency is being outside of central government control, so I'm not sure what is meant by countries switching to their own cryptocurrency.
I don't use cash for purchases and seldom write a check. CC discounts and extended warranties are attractive incentives. I'm more concerned with government knowledge of purchases and restrictions on the exercise of liberties via NFA and GCA 1968/FFL system than manner of payment.
Last edited by ChattanoogaPhil; 07-13-20 at 08:28.
Banned
Has anyone else heard this?Originally Posted by Mozart
Senior Member
I get it but I'm not seeing the big deal in this specific case.
Private transactions are between private parties. No private party takes cc, check or anything but cash, unless a deal was was made a head of time for trade.
Store purchases....well.....yea.... except for all those cameras and sales receipts. How many cameras can link at least 90% of your drive from home to store. Then store parking lot, inside the store, at the register paying with a time stamped video and receipt! And let's not forget that phone in your pocket that knows what you're thinking before you think it!
But let's not forget the thousands of rounds of ammo, mags and gun accessories bought online.... obviously not with cash
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Last edited by Arik; 07-13-20 at 08:53.
Senior Member
I buy almost everything with cash. Each Friday, I get cash out and TRY to force myself into a spending limit. It was a tip from a financial advisor a few years back.
I laugh when people cry about the card skimmers at the gas pumps, etc. The idea of paying cash doesn't even enter their pea brain.
"What would a $2,000 Geissele Super Duty do that a $500 PSA door buster on Black Friday couldn't do?" - Stopsign32v
Senior Member
There are signs in some of the businesses here that there is a nationwide coin shortage. Its either pure BS or the media can't work out a way to blame the President so they don't cover it.
Andy
Senior Member
Yes. Saw this at WAWA (7/11 style convenience store). They even took out their coin dispenser machine thing. For those who don't know, before they cashier would give you your paper change and the coin dispenser would shoot out your coin change. They deal with a lot of small change. People coming in to buy coffee, sandwiches, cigarettes, drinks....etc...
And at Best Buy the other day but I paid cash and got change back. The guy there said it was mainly for large bills. People paying with a $50 for something that's like $7 and change. Mine was $30. I paid $40 and got change back.
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Senior Member
The coin shortage was the result of less activity with coin recyclers and the US Mint operating at less than capacity in April and May, all during the COVID lockdown. As lockdowns eased there was more demand among retailers creating a temporary shortage which will soon resolve as the US Mint is back to full production. Some conspiracy nuts were hyping it as the coming of the new world order... blah blah blah.
Last edited by ChattanoogaPhil; 07-13-20 at 08:57.
Senior Member
That works great but buying gas when there is no manned register is impossible. The stations in my sleepy area close down at 2000 and open at 0600 or 0700, which means I have to pay at the pump.
Also a guy needs reloading components and gun parts. You gotta get most of that online around here unless you have the local guy order it, charge you above retail and shipping, but you don’t get it until “he has enough to make an order from that vendor”.
I also prefer to play with cash when I can. It just makes sense and it’s what we should do. But I did develop a good solution. I keep a second bank account with no overdraft. I electronically transfer enough cash to that card to make a specific purchase then leave less than $1.00 after it’s processed. It’s like loading a prepaid card I can do with my bank app.
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Senior Member
Depends on what you want out of your money. The gas skimmer is a irritating but irrelevant. One call to the CC company and its not your problem. Besides the chances of that happening.......
On the other hand a coworker puts EVERYTHING on CC. EVERYTHING! car payments, mortgage, groceries, kids stuff, EVERYTHING! He carries a little cash....a few dollars.... because sometimes cash is needed! His logic is what's the difference who I give the money to? Car payments aren't going to change, neither is the mortgage. Still have to buy everything that I'll buy during that month. But now instead of spreading payments around and writing half a dozen different checks I now do one monthly payment and it's still the same amount of money spent. On the other hand though I get discounts. Gas is 3% cheaper, so are groceries and the amount of points I get on the card I take the whole family on vacation every year with free flights, discounted hotels and sometimes free car rentals.
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Member
China is moving to 100% digital currency. No cash what so ever. Alibaba and Tencent have been using their own digital payment platforms which users fund themselves, but China as a nation will be moving their entire economy to digital currency.
The Federal Reserve has been kicking this around, too.
Digitizing currency is both about central banks staying competitive and maintaining absolute control of flow of currency. The bottom link explains this better than I can.
https://www.businessinsider.com/didi...urrency-2020-7
https://www.theguardian.com/world/20...gital-currency
https://www.cnbc.com/2019/09/13/chin...alization.html
https://www.forbes.com/sites/norbertmichel/2020/06/19/digital-dollar-project-promotes-federal-reserve-digital-dollar/#21f3388338ae
https://www.youtube.com/watch?v=lkgV7LJv5Os
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