@relicsncoins said:
The purchasing power of a half is what a quarter was, so the half will be the new quarter.
Actually, Apple pay is the new quarter.
What's Apple Pay? Is that anything like $64,000 Bitcoin or $3500.00 Ethereum?
It's more like PayPal.
Most of my students don't carry any cash. They use digital payments like Google Pay or Apple Pay or Venmo.
Haaa! I know, just having a little fun. I hate digital currency and all the big tech players running more of the financial systems. I loved watching Bitcoin and the other digitals bite it over the past few months... may be better off taking that cash to the casino. Odds are much better at the blackjack tables.
One has to look no further than the headlines the past week or two in regards to ransomware attacks. Something tells me this will come back to bite hard one day soon. JMHO
Mark
You're picking random dates to make you feel good. Crypto currencies are up huge in the last 12 months even after the pull back.
All crypto are digital but not all digital is crypto.
You are picking random dates as well when you say cryptos are up over the past 12 months. I like my chances better at the blackjack tables.
Mark
I didn't pick any specific dates. Obviously, if you go back to the very beginning, cryptos are up huge.
Certainly, there is an element of gambling to them. It is unclear who will survive and who won't. There's also uncertainty about how cryptos will be applied to real world solutions.
The Ethereum network is used for smart contracts. It is not all just random digital collectibles.
@savitale said:
I'm still befuddled about where coins in circulation go. I occasionally see someone pay with cash and receive coins in change, but maybe in one transaction out of 100 do I see someone pay with coins to the merchant.
They only thing I can think of is that the average American has $100 in coins lying around the house that they can't be bothered to take to the bank or Coinstar.
All this talk of heavy pockets from dollar coins and halves makes want to, I don’t know, not go to every other first world nation that has already eliminated the paper dollar, uses $2 equivalent coins and typically has circulating halves. How do they get by in the euro zone, Canada, and the UK…. Must be pants around ankles all over the place there.
@3stars said:
All this talk of heavy pockets from dollar coins and halves makes want to, I don’t know, not go to every other first world nation that has already eliminated the paper dollar, uses $2 equivalent coins and typically has circulating halves. How do they get by in the euro zone, Canada, and the UK…. Must be pants around ankles all over the place there.
They only thing I can think of is that the average American has $100 in coins lying around the house that they can't be bothered to take to the bank or Coinstar.
It should be closer to $65 right now.
Such accumulations rarely date back more than three years but right now this length of time might be closer to four years because covid set people back for a year. This may be the chief reason that there is a coin shortage.
As the dollar erodes away and electronic transfers increase these accumulations become less likely to be redeemed on the same schedule they were in the past. One of the reasons for redeeming them was to get the 50 dollar bill they represented but $50 now barely fills a bag of groceries.
Comments
I didn't pick any specific dates. Obviously, if you go back to the very beginning, cryptos are up huge.
Certainly, there is an element of gambling to them. It is unclear who will survive and who won't. There's also uncertainty about how cryptos will be applied to real world solutions.
The Ethereum network is used for smart contracts. It is not all just random digital collectibles.
$100?? It'll end up at the bank
All this talk of heavy pockets from dollar coins and halves makes want to, I don’t know, not go to every other first world nation that has already eliminated the paper dollar, uses $2 equivalent coins and typically has circulating halves. How do they get by in the euro zone, Canada, and the UK…. Must be pants around ankles all over the place there.
murses
It should be closer to $65 right now.
Such accumulations rarely date back more than three years but right now this length of time might be closer to four years because covid set people back for a year. This may be the chief reason that there is a coin shortage.
As the dollar erodes away and electronic transfers increase these accumulations become less likely to be redeemed on the same schedule they were in the past. One of the reasons for redeeming them was to get the 50 dollar bill they represented but $50 now barely fills a bag of groceries.
Some people don't know what to do with cash any longer. They treat it like a coupon.