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Author Topic: WTF! Decent unbiased press from a fairly serious site!  (Read 1254 times)
Bigpiggy01
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October 02, 2011, 04:06:41 PM
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http://www.gobankingrates.com/credit-card-rates/new-finance-technology-changing-spend/


This looks like a well written piece of journalism without the usual garbage. Particularly in view of the latest BOFA debit card fees and the fees other banks are planning Grin

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October 02, 2011, 04:17:41 PM
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"...paying digitally make it harder to keep track of how much you’ve spent or charged..."

can't agree with that, digital transactions are much easier for bookkeeping
Stephen Gornick
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October 02, 2011, 04:19:26 PM
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This looks like a well written piece of journalism

"this currency’s value is based on market forces, allowing owners to trade it over the Bitcoin StackExchange"

Heh, well ... they might have skipped over some of the details.  :-)

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October 02, 2011, 04:22:39 PM
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"this currency’s value is based on market forces, allowing owners to trade it over the Bitcoin StackExchange"

Yup, but at least it's fairly unbiased. And in view of the hate press BOFA and others have been getting the overall impression I get is pretty positive Wink

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October 02, 2011, 04:30:02 PM
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"...paying digitally make it harder to keep track of how much you’ve spent or charged..."

can't agree with that, digital transactions are much easier for bookkeeping

Kind of...

It depends on the perspective.  In the case of Bitcoin, you know exactly how may Bitcoins you sent/received and is to that extent easy to keep track of.

The problem comes from Bitcoin currently being tied to fiat in terms of it's value.  As a result, it's much more difficult to keep track of.  We know only 21 million coins will ever be created, but a Bitcoin spent now may be worth many more/fewer Bitcoins later on.  Even though more coins are being continually generated, a mass acceptance of Bitcoin will make each individual Bitcoin more rare in terms of ownership.  The changing exchange rates make keeping track of bookkeeping more difficult because the value of BTC spent is relational.  10 BTC that I sell back in the middle June is quite different than the 10 BTC sent today.

Because of this, if I said, "I spent 100 BTC last year, but I spent 500 this year," it's hard to know exactly what this means in terms of value.

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October 02, 2011, 05:24:17 PM
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"...paying digitally make it harder to keep track of how much you’ve spent or charged..."

can't agree with that, digital transactions are much easier for bookkeeping

I don't think that's what they mean. When you have a fistful of cash, you feel more attached to it than if it's just a number on a screen. Experiments have shown that people are more likely to take risks/spend money when they don't have a physical representation of that money.
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October 02, 2011, 05:57:17 PM
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This looks like a well written piece of journalism

"this currency’s value is based on market forces, allowing owners to trade it over the Bitcoin StackExchange"

Heh, well ... they might have skipped over some of the details.  :-)

I LOL'd at that too =)  To be fair, it DOES sound like a trading platform heheh
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October 03, 2011, 08:11:38 PM
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Well written piece of journalism, this is not. Spam content written to get search engine ranking, this is.

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Bigpiggy01
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October 03, 2011, 08:24:47 PM
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Well written piece of journalism, this is not. Spam content written to get search engine ranking, this is.

Bows head in shame, while secretly LULing at the mistakes in the article Grin

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