Digital currency

[Henro]

I’m sure I am missing the big picture. But I use digital currency every day for just about everything.

I haven’t used any cash for many months, maybe years actually.

Social Security and pension money shows up in my bank account. And so on and so forth.

I use my credit card. My utilities and other bills are paid with a credit card. This year I even paid my property taxes with a credit card at no charge to me.

So in my life I’m using digital currency called the dollar every day. Local taxes and the sewage bill, since sewers went in, are by check though. What’s wrong with those guys? Time for them to join the 21st century.

OF COURSE I PAY THE BALANCE OFF EACH MONTH SO PAY NO INTEREST. And in most cases get 2% cash back as well, but not on the tax payments.

I honestly haven’t had a paper dollar or a coin in my hand or wallet for a very long time.

I suppose this is just a confession. An admission that I don’t see the advantage of a digital currency except for speculation…

Might be the view of someone that is not hiding anything. Maybe that is what I am missing.

 

[hagrid]

Be careful not to oversimplify the definition of digital currency.

The manner in which you are using it, digital currency is nothing more than the metaphysical, ones-and-zeros representation of a physical dollar.

Bitcoin, Dogecoin, Etherium, et al are unique currency unto themselves that currently have a speculative equivalency to a dollar.

 

[Henro]

Be careful not to oversimplify the definition of digital currency.

The manner in which you are using it, digital currency is nothing more than the metaphysical, ones-and-zeros representation of a physical dollar.

Bitcoin, Dogecoin, Etherium, et al are unique currency unto themselves that currently have a speculative equivalency to a dollar.

That‘s why I mentioned I don’t see the advantage except for speculation…better go back and highlight that sentence I guess.

Edit: mission accomplished.

 

[RCW]

Be careful not to oversimplify the definition of digital currency.

The manner in which you are using it, digital currency is nothing more than the metaphysical, ones-and-zeros representation of a physical dollar.

Bitcoin, Dogecoin, Etherium, et al are unique currency unto themselves that currently have a speculative equivalency to a dollar.

WHAT???

Hagrid - - you're from PA - - use Engrish.....

 

[hagrid]

WHAT???

Hagrid - - you're from PA - - use Engrish.....

Yinz aught ter sell yer bitcoinz befur theyz useless!

Go Stillers!!

 

[skeets]

OK Hagard when and where yinz wana get a samich ?

 

[hagrid]

This Sunday is open. My little brother made plans for me for tomorrow. Your call on where.

 

[D2Cat]

Henro, you must be a recluse, or tighter than bark on a tree!!!!

Obviously don't purchase anything at a farm sale, yard sale, marketplace or find a bargain anywhere, or purchase anything insignificant like a sandwich or drink.

I just spent $20 today for a 4 1/2" Porter Cable angle grinder with a carbide edged metal blade. i don't think the guy would accept a CC. Be real handy for a flap disc tool.

 

[mikester]

Digital everything is great until money disappears from your account and suddenly you have no proof it ever existed because electronically the transaction is gone and "everything looks fine" from the bankers terminal and you don't have paper statements to back up your complaint.

 

[BigG]

Digital everything is great until money disappears from your account and suddenly you have no proof it ever existed because electronically the transaction is gone and "everything looks fine" from the bankers terminal and you don't have paper statements to back up your complaint.

Or when big brother decides they will "tax" everyone's bank account at X%. And they take the X% without you needing to fill out a tax form.

 

[lynnmor]

Bought a tongue weight scale and a diesel can at a yard sale yesterday for $5 each using cash, the scale is worth nearly $150 and the can about $30. Cash can be king at times. I do use a credit card as much as possible for the benefits.

 

[GreensvilleJay]

re: Digital everything is great until money disappears from your account and suddenly you have no proof it ever existed because electronically the transaction is gone a

not really possible, there's always a 'paper trail', well digital on at least 4 'servers', PLUS if YOU access your account from your computer, YOU have copies of your bank information

 

[Biker1mike]

Young man working as a contractor for us had a bunch of computer drives in his basement 'mining' for bitcoin. Then he started investing serious cash into it. He tried to get many of us to invest. Really wish I had.
Without boasting he came in one day and said he was retiring as a multi-millionaire. Was only in his 30's. He left for California.

No idea how he sold the digital coin but he knew what he was doing.

 

[mikester]

re: Digital everything is great until money disappears from your account and suddenly you have no proof it ever existed because electronically the transaction is gone a

not really possible, there's always a 'paper trail', well digital on at least 4 'servers', PLUS if YOU access your account from your computer, YOU have copies of your bank information

BS.

They will find it quickly only if they give you too much money in error.

I had a situation with my CC that got compromised. Bank re-issued a new card and all previous transactions disappeared online including a balance they owed me. Took six months to get my money back. Only saving grace was I had just received my paper statement when the card got hacked. The kind people at the bank kept telling me "everything is fine, don't worry, your balance is zero!". Unfortunately the modern generation is gullible into believing what the see on screens.

 

[xrocketengineer]

BS.

They will find it quickly only if they give you too much money in error.

I had a situation with my CC that got compromised. Bank re-issued a new card and all previous transactions disappeared online including a balance they owed me. Took six months to get my money back. Only saving grace was I had just received my paper statement when the card got hacked. The kind people at the bank kept telling me "everything is fine, don't worry, your balance is zero!". Unfortunately the modern generation is gullible into believing what the see on screens.

I don't know if things have changed but in the early eighties my bank offered me a new fangled ATM card. I accepted it but they told me that I needed a new account number and my deposits need to go to my new account. So that was a done deal. So every other week when I got my paycheck, I would withdraw some money from the ATM. For several months I received my statements but nothing showed up referring to the ATM withdrawals. Eventually, I went to the bank to inquire on why I had not seen any transactions on my statements from the ATM. The woman that was "helping" me went off to check and after several minutes came back and asked me if I had all of my ATM receipts. I showed them to her and she took them to make copies. When she came back, she told me all that the ATM withdrawals were taken out of my previous non existent account and they had no records of any of the transactions I made on the ATM. So based on "my receipts" they were going to withdraw the money from my current account. I told her specifically to take the money out from checking, since that is where I assumed that the money was withdrawn. By the end of the month all the money from the previous ATM transactions was taken out from my savings account. On top of that, I would get paid on Fridays but the bank would credit the deposit the following Monday. So after that, every ATM withdrawal I made on payday I was charged with an overdraft fee. I ended up closing the account and moving to another bank and the previous bank went out of business within a year.

 

[Henro]

I‘m glad to hear that the financial electronic record keeping system is so poor that I should never have to worry about an IRS audit!

Time for some of us to get real. Me or others? Not sure, but can guess…

 

[Lencho]

Henro, you must be a recluse, or tighter than bark on a tree!!!!

Obviously don't purchase anything at a farm sale, yard sale, marketplace or find a bargain anywhere, or purchase anything insignificant like a sandwich or drink.

I just spent $20 today for a 4 1/2" Porter Cable angle grinder with a carbide edged metal blade. i don't think the guy would accept a CC. Be real handy for a flap disc tool.

It will be a very bad day if cash disappears. I too use digital banking and cc for most purchases but just today bought a kiln for my wife in cash and all my used implements were cash deals. Crypto seems to support crime at least as well as cash does so no social benefit there.
I cannot get past the energy required to calculate the block chains - it isn’t sustainable.

 

[Fordtech86]

Drug cartels won’t let cash go away

 

[RCW]

Man, our small investments in the Stock Market acted real digital and disappeared this week…..

 

[Henro]

I have to confess that I do carry a small amount of cash in my wallet...just in case.

Today I got a prescription filled, and believe it or not, for the first time in my life, the cost was 97 cents! I happened to have a dollar in with the several 20s that I carry.

Decided not to confuse the guy at the pharmacy drive through, and just accepted my 3 cents change, rather than say keep it... figured that would confuse things so I kept my mouth shut...

Lost nearly 2 cents by paying cash. ROFL