Time for gold backed crypto to take over. The only problem will be infamiliar prices and very tiny fees. The transaction fees are less than what CC companies charge to move USD around (and that's just two updates to a database), but the CC companies do a good job of hiding those fees and forcing them on the merchant, which hides complexity from the consumer.
With everything moving to instacart, doordash, amazon, the five minutes for a transaction to clear is ok to fund the account. And then we could have a currency that will either go up in value if you are a saver or at least stay stable if AI cools down a little.
When you realize you've been indirectly paying $5 per transaction on every purchase you should be happy to pay $0.20 to pay the store. It's one of the reasons why portion sizes are too big in the US and or quality is poor. Think about it. If you spend $7 on lunch they need to give you some real trash to break even. They want you to spend as much money as possible per transaction to get more revenue per transaction fee. And the ingredients themselves are cheap. So they'll give you more food to intice you to spend $14. Now you are over eating and over spending. That or you can eat actual garbage that is still way more expensive than it should be.
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Time for gold backed crypto to take over. The only problem will be infamiliar prices and very tiny fees. The transaction fees are less than what CC companies charge to move USD around (and that's just two updates to a database), but the CC companies do a good job of hiding those fees and forcing them on the merchant, which hides complexity from the consumer.
With everything moving to instacart, doordash, amazon, the five minutes for a transaction to clear is ok to fund the account. And then we could have a currency that will either go up in value if you are a saver or at least stay stable if AI cools down a little.
When you realize you've been indirectly paying $5 per transaction on every purchase you should be happy to pay $0.20 to pay the store. It's one of the reasons why portion sizes are too big in the US and or quality is poor. Think about it. If you spend $7 on lunch they need to give you some real trash to break even. They want you to spend as much money as possible per transaction to get more revenue per transaction fee. And the ingredients themselves are cheap. So they'll give you more food to intice you to spend $14. Now you are over eating and over spending. That or you can eat actual garbage that is still way more expensive than it should be.
Can they run it at a loss to secure it's position as a monopoly - and then hike the fees?
Would be great if there were a government prepared to back and insure crypto with gold.
Various countries are selling their US dollars, because of the unreliable and unpredictable US government.
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