This is why I think gnu taler is a great company and project
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We should stop paying for things with credit cards.
Monero? I personally buy some services with it.
It just seems like a scam to me. We buy things with credit cards to get the points and each transaction costs the merchant money. The merchant raises their prices to cover transaction fees, so now you’re not really getting points - you’re paying hidden fees that get some rewards points for (but not enough). The real scam is that it’s such a monopoly now (oligopoly?) that if you don’t pay with a credit card then you’re losing out - you’re paying inflated prices but not getting the reward points.
Now, some people have to pay with credit cards, but that shouldn’t be the norm. If you’re perpetually one month (ie, one payment) behind on bills, etc, then credit card makes sense, but that should be an edge case - just need to save for a month and then you’re good. (yes, lots of shoulds and wishful thinking there, I know, read the next paragraph).
If you fall more than a month behind on payments, the you’re paying some 20% interest, which is likely going to destroy you anyways. So living “a month behind”, while maybe the reality for many is likely to get way worse before it gets better.
I will acknowledge that CC companies provide things like insurance and liability protection. I think that if governments and/or banks could provide this, there would be no good reason to use a credit card beyond the odd big purchase. And realistically, some international transactions, as well, since it will take a long time before all our payment systems are integrated to that degree.
A wise man once said “cash is king”
Although that brings up a point on how reliant we are on the banks, but a private crypto currency like monero is not yet ready for mass adoption.
Monero will never be ready for mass adoption. The problem is that it is primary used for illegal transations. Its effectively tainted in my eyes
Is cash tainted for the same reason? I think when a currency is good for commiting crime, it is an indication that the currency is well designed.
Cash isn’t used for crime nearly as much
So much cash is used for drug deals that it literally helps to shape our (USA) economy.
It is a stereotype here that if someone has a lot of cash, they are either drug dealers or sex workers.
Are they alleging that Mastercard sells data with personally identifiable information? Because if not, what’s the big deal? The people that buy this data want to know about trends.
