tag:blogger.com,1999:blog-6704573462403312459.post475638591260826865..comments2024-03-28T06:53:23.473-04:00Comments on Moneyness: Bitcoin, drowning in a sea of credit card rewardsJP Koninghttp://www.blogger.com/profile/02559687323828006535noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-6704573462403312459.post-25125106658904131752022-12-12T05:32:17.155-05:002022-12-12T05:32:17.155-05:00I really appreciate your amazing blog, thank you.U...I really appreciate your amazing blog, thank you.<a href="https://stampthepassport.com/usa-visa-tourist/" rel="nofollow">US tourist visa</a>sweden dsouzahttps://www.blogger.com/profile/17781782684306218824noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-68979467274672684702022-12-08T00:46:52.290-05:002022-12-08T00:46:52.290-05:00Bank of America credit card travel benefits provid...Bank of America credit card travel benefits provide an excellent way to save on your travels. With waived airport fees, air miles bonuses, and more, Bank of America credit card travel benefits are a great way to get the most out of your travels.<br /><br />With Bank of America credit card travel benefits, you can enjoy discounts on flights, hotels, and car rentals. Plus, you can use your card to pay for your travel expenses easily. So whether you’re planning a vacation or just want to save money on your travel expenses, Bank of America credit card travel benefits are a great option<br /><br />https://attractedlove.com/bank-of-america-credit-card-travel-benefits-2022/shamim flancerhttps://www.blogger.com/profile/14391476091484765055noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-58752491495694890882016-10-14T15:10:54.686-04:002016-10-14T15:10:54.686-04:00JP, you and most of your fellow economists don'...JP, you and most of your fellow economists don't understand code, including monetary code, in a physics / evolution / complexity context.<br /><br />This omission crushes the philosophic orientation of most of economics ... and will soon come for your and my descendants.<br /><br />Here's one way to distill it:<br />Looking at the multitude of human bodies to feast on, a bacterium asked, "What the hell happened here?"<br />"They tried to do natural selection with monetary code."<br /><br />The Price Is Wrong:<br />http://ow.ly/5DlX303zDDQAnonymoushttps://www.blogger.com/profile/14515985160082834509noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-11013908777199909902016-10-12T21:43:50.357-04:002016-10-12T21:43:50.357-04:00Benoit, nice anecdote.
"Are you sure VISA/Ma...Benoit, nice anecdote.<br /><br />"Are you sure VISA/MasterCard don't impose rules in their contracts? I live in eastern Canada."<br /><br />In Canada, Visa and MasterCard prohibit card surcharges. They have never prevented cash discounts, however, which is why the gas station you describe can do what it does. In the U.S., retailers were recently granted the ability to surcharge credit cards, although not in all states. In Australia, surcharges have been allowed since the early 2000s. <br /><br />Here is a recent article on the topic:<br /><br />http://www.wsj.com/articles/should-you-pay-more-to-use-a-credit-card-the-supreme-court-will-decide-1475166779<br /><br />Why don't all gas stations provide cash discounts? Good question. Here are a few academic papers on the topic:<br /><br />https://ideas.repec.org/p/fip/fedbpp/12-9.html<br />http://faculty.msb.edu/prog/CRC/pdf/wp57.pdf<br /><br />Tell me if you find them convincing.JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-33498669571357144402016-10-12T21:31:49.274-04:002016-10-12T21:31:49.274-04:00Yep, good point. See my footnote. Even if Dell off...Yep, good point. See my footnote. Even if Dell offers a discount, it may not be big enough to make bitcoin transactions profitable for the consumer, since consumers must hedge against volatility and pay the dollar-to-bitcoin exchange rate. <br /><br />Also, Bitpay and Coinbase currently charge retailers 1% for protection from bitcoin exchange rate volatility, which limits the size of the discount that Dell can offer.JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-45694038833213797862016-10-12T16:17:50.376-04:002016-10-12T16:17:50.376-04:00Are you sure VISA/MasterCard don't impose rule...Are you sure VISA/MasterCard don't impose rules in their contracts? I live in eastern Canada. There is a gas station 15 miles outside of my city that offers a 2% discount if you pay cash or debit. People flock to it. Everybody knows about it and people stop there when they happen to be in the area. There are often lineups there. Once they ran out of regular gas while I was pumping (they then offered premium at the price of regular).<br /><br />Just across the street there is another gas station that doesn't offer that deal and it looks like they only serve crickets over there (maybe they capture some overflow from the other one?).<br /><br />I always thought that the one that offered the deal, which is a smaller independent business, just flaunted the rules in their contract and hoped that credit card companies wouldn't notice. They are the only gas station I know that offers that deal. Why wouldn't others do it, especially the one across the street which surely must notice where are their potential customers are going. This one is however a big chain so the decision must be made elsewhere.Benoit Essiambrehttps://www.blogger.com/profile/09777196965771952105noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-50435825852829564402016-10-12T15:28:19.231-04:002016-10-12T15:28:19.231-04:00The lack of stability and cost of conversion would...The lack of stability and cost of conversion would undermine any discount though, what is the bitcoin/dollar exchange spread? Cash also has its benefits, anonymity and unreportable, and costs, counting and handling costs and errors, counterfeiting, pilfering, and robbery. Lordhttps://www.blogger.com/profile/06747994571555237739noreply@blogger.com