Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (2685)	6/30/2019 11:46:36 AM
From: Elroy Jetson	1 Recommendation Recommended By elmatador Read Replies (2) \| Respond to of 13801

Low transaction costs are what makes credit cards so popular, typically costing between 1% to 2.5% of a merchant's sales. For those of us who are not Visa merchants, we usually transfer money from person to person with Google Pay, which is "free" in that usual Google way which monetizes information about us. Our Visa cards and Mastercards cost us nothing while paying a 2.63% to 5.25% cash rebate each time we use them. Our rebate level requires Bank of America "relationship banking" with a minimum of $100k between bank accounts and their affiliated stock broker. Transaction costs are higher for people with bad credit from a history of not paying their bills on time, because they don't qualify for cards which offer cash back, or the most cashback. For some the only way they can obtain a credit card is a "secured card" where the credit limit is equal to the amount of money they have on deposit with the credit card issuer. In much the same way, merchants with bad credit or very infrequent business also pay fees which are much higher than the typical 1% to 2.5%. In a sense, the 75% bonus on cash-back cards we obtain with "relationship banking" are essentially a disguised form of "secured credit cards" as they require us have more than $100k on deposit. Reduce our deposits to $50k and the bonus shrinks to 50%, 25% for a total of $25k in deposits. With less than $25k on deposit the cash-back magically shrink back to 1.5% to 3% just like Cinderella's pumpkin coach. For people with that amount of cash on hand, a flat 2% cash-back on the Fidelity Visa is probably a better deal. . Bitcoin transaction fees have declined from a high of $55 per transaction down to $1.92 recently as "mining" is no longer profitable so millions of surplus bitcoin computers take what ever work they can.

To: elmatador who wrote (2685)	6/30/2019 5:29:55 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 13801

Yes, money is a unit of measurement, but it's more than that. Money should include possession, unlike a kilogram or kilometre, rad, second, or litre which exist independent of possession. Money should include an ownership component [unless the money is gold, blockchain, sea shell, egg, silver, platinum or other identifiable entity]. The value that matters in ideal money is the attached promise to do something for the owner of the unit of money. I'm working on it. CDMA/OFDM and mobile Cyberspace are done. Now for the monetary units. Facebook and Libra are barking up the wrong tree. Mqurice