Cashless society

[divs4ever]

Bank has said the thieves are generating codes till they crack it. Second time I've heard this explanation. So is AI being used in brute force attacks?

very likely , but add to that security codes ( last i investigated them ) are generated ( partly by algorithms applied to the Fibonacci sequence ... so if you eliminate all numbers NOT on the Fibonacci sequence .... brute force doesn't need such brute number crunching

remember those keeping you 'secure ' love to control costs and cut corners ( AND various intel agencies work 24/7 trying to bust those encryptions , that aren't theirs )

 

[JohnDe]

Sister in-law just came back from a holiday in Phuket, when they arrived there was a huge line to get through customs which charge about A$30 entry fee. She heard a regular traveler say “let’s go to the cash line, it’s quicker”. She asked which line? “Follow me” he said. They walked to another section, and entered short and fast moving line. Paid $30 cash and entered the country.

Cash is king

 

[Value Hunter]

Yeah there are definitely better accounts, that offer unlimited free transactions, probably call your bank and see what they suggest.

Even commsec have a free account with unlimited debit card transactions.

I have a debit card which has unlimited transactions without fees, however I still pay most of my expenses in cash as I don't own any credit cards and hence don't get reward points so paying by card really offers no advantage for me.

Whereas with cash I avoid paying surcharges charged by certain small business. I mostly only use card when paying for things online or if I run out of cash before having a chance to go to an atm.

Plus with cash if you are paying for everything in cash you can just see visually how much you are spending when you open your wallet.

For example if you took $300 cash out of an ATM on Sunday last week and you have $100 left in your wallet, when you open your wallet to pay for something its a quick visual reminder "I have spent $200 in the last 7 days". Its good to have a quick unavoidable reminder of how much you are spending every time you open your wallet as it keeps you accountable.

 

[Dona Ferentes]

Newly minted 2024 coins received in change yesterday.

 

[qldfrog]

Newly minted 2024 coins received in change yesterday.
View attachment 190971

Hum...pure coincidence or different percentages in the alloy mix?

 

[Value Collector]

I have a debit card which has unlimited transactions without fees, however I still pay most of my expenses in cash as I don't own any credit cards and hence don't get reward points so paying by card really offers no advantage for me.

Whereas with cash I avoid paying surcharges charged by certain small business. I mostly only use card when paying for things online or if I run out of cash before having a chance to go to an atm.

Plus with cash if you are paying for everything in cash you can just see visually how much you are spending when you open your wallet.

For example if you took $300 cash out of an ATM on Sunday last week and you have $100 left in your wallet, when you open your wallet to pay for something its a quick visual reminder "I have spent $200 in the last 7 days". Its good to have a quick unavoidable reminder of how much you are spending every time you open your wallet as it keeps you accountable.

As I have explained before, using my credit card for transactions in Australia earns me about 3% in benefits, so a 2% fee is still a net plus, not to mention that when travelling overseas that expands to a 10% benefit when using my card.

As for money in my wallet, I guess it depends on how you have wired your brain to think, cash in my wallet is like Monopoly money, basically in my mind it’s already spent, but the money in my account is higher value money earning interest.

 

[JohnDe]

I have a debit card which has unlimited transactions without fees, however I still pay most of my expenses in cash as I don't own any credit cards and hence don't get reward points so paying by card really offers no advantage for me.

Whereas with cash I avoid paying surcharges charged by certain small business. I mostly only use card when paying for things online or if I run out of cash before having a chance to go to an atm.

Plus with cash if you are paying for everything in cash you can just see visually how much you are spending when you open your wallet.

For example if you took $300 cash out of an ATM on Sunday last week and you have $100 left in your wallet, when you open your wallet to pay for something its a quick visual reminder "I have spent $200 in the last 7 days". Its good to have a quick unavoidable reminder of how much you are spending every time you open your wallet as it keeps you accountable.

And backed up by independent studies -

Multiple studies have found that people will spend more when they use a credit card compared to cash. Paying in credit cards does offer an enviable convenience to "buy now and pay later," but individuals must be careful to monitor their spending carefully at risk of carrying heavy debts.​

Should You Pay in Cash?

Avoiding paying by plastic can do wonders for your stress level and your pocketbook. Here's how to get out of the plastic money trap.

www.investopedia.com

 

[JohnDe]

 

[wayneL]

And backed up by independent studies -

Multiple studies have found that people will spend more when they use a credit card compared to cash. Paying in credit cards does offer an enviable convenience to "buy now and pay later," but individuals must be careful to monitor their spending carefully at risk of carrying heavy debts.​

Should You Pay in Cash?

Avoiding paying by plastic can do wonders for your stress level and your pocketbook. Here's how to get out of the plastic money trap.

www.investopedia.com

Learned that the hard way, but very young. Cut up my credit card when I was 20 and have only had debit cards since.

 

[farmerge]

Learned that the hard way, but very young. Cut up my credit card when I was 20 and have only had debit cards since.

@wayneL We are the opposite Wayne. Have a credit card that is used for business and general expenses.
She who is never wrong is a very, very frugal user of it.
Always gives a bit of thought do we really need this that or the other.
The only exception is fuel for the car.
She starts to panic if the tank is at half, dead scared that a trip to Midland will not have enough juice in the tank for the return trip.
The debt balance is always paid in full each month, so there isn't an issue for us.

 

[JohnDe]

Looks like a new scam going around -

Bank refund scam affecting automotive businesses​

​

MTA has been made aware of increased scam activity affecting automotive businesses including dealers.​

​

The scam involves hackers accessing a compromised internet banking account of a customer and making an unauthorised transfer to the business through the customer’s saved payee accounts.​

​

The scammers then contact the business, often using webchat or SMS, claiming the transfer was accidental and demand an immediate refund to an alternative bank account.​

​

Scammers often express a sense of urgency and pressure the business to transfer funds, prior to their detection.​

​

Protecting Your Business:​

​

• Prioritising phone calls for significant refunds.​

• Verifying customer identity using multiple methods such as driver's license, date of birth and recent purchase history.​

• Comparing the contact number used for the refund request with the customer's details on file.​

 

[farmerge]

Looks like a new scam going around -

Bank refund scam affecting automotive businesses​

​

MTA has been made aware of increased scam activity affecting automotive businesses including dealers.​

​

The scam involves hackers accessing a compromised internet banking account of a customer and making an unauthorised transfer to the business through the customer’s saved payee accounts.​

​

The scammers then contact the business, often using webchat or SMS, claiming the transfer was accidental and demand an immediate refund to an alternative bank account.​

​

Scammers often express a sense of urgency and pressure the business to transfer funds, prior to their detection.​

​

Protecting Your Business:​

​

• Prioritising phone calls for significant refunds.​

• Verifying customer identity using multiple methods such as driver's license, date of birth and recent purchase history.​

• Comparing the contact number used for the refund request with the customer's details on file.​

Pity these scum bags work on the wrong side of the fence!!!

 

[moXJO]

Newly minted 2024 coins received in change yesterday.
View attachment 190971

I was down at the RAM on Monday arvo. A decent amount of people. The demographic was interesting. I was expecting a lot more older people but it was a decent mix. A few different nationalities as well.

A lot of the newer coins circulating Canberra.

 

[qldfrog]

I was down at the RAM on Monday arvo. A decent amount of people. The demographic was interesting. I was expecting a lot more older people but it was a decent mix. A few different nationalities as well.

A lot of the newer coins circulating Canberra.

Buyers? Visitors?
What do you buy at RAM? collector coins?
Or do they also sell gold silver?
Never been there

 

[divs4ever]

Pity these scum bags work on the wrong side of the fence!!!

did you ever wonder why ?

when the GOOD ( independent ) guys find a flaw , they foolishly ( not so many now ) tell the appropriate people .. and the usual response is to send a lawyer , with a threatening suppression order etc etc.

( now the BAD guys when they discover a flaw , test it and SELL it to anyone who has the bucks/crypto )

and GOD FORBID you quietly just fix the flaw ( for free ) and distribute ( quietly on the internet ) and don't tell anyone

see the CODE GREEN saga as an example

sometimes it is very hard to tell which scumbags are who ( as official fixes can take years , when unofficial fixes were available , within weeks )

 

[moXJO]

Buyers? Visitors?
What do you buy at RAM? collector coins?
Or do they also sell gold silver?
Never been there

Both buyers and visitors. You can wander around and see the money history and tour the facilities. There's also a shop. I was down Canberra for business and took the kids with me. Went to the mint, questacon and war memorial. Picked up some of the
2024 Rolled Coin Set - Premium. Changeovers will be rare so I've got a few. Probably see another if Charles falls over and then it may be a long in-between with William.

I collect coins started in gold sovereigns (veiled heads try to get ms64+ but ms63 are more readily available) . Started Went to the circulated sets of coins. I like the $2 coloured coin rolls even though a lot of the older coin collectors turn their nose up. You could often make 200%+ mark up on these before.
I don't really sell my sets though. I just enjoy it as a hobby.
I know guys that constantly buy then sell sets as they come into fashion at about 30%. For me it's not worth the time.

Honestly it was more to get the kids into investing in the end.

 

[Dona Ferentes]

Cash still used if you need to but best is get some WeChat or Ali money on your phone.
Open a WeChat account maybe from HK if you can or from mainland .
It can be tricky aka near impossible to link an Aussie credit card to any of these account.when I left China at Covid time, it was even getting

an advocate!!

Why U.S. tech companies struggle to replicate China's WeChat 'super app' model

While 'super apps' have flourished in Asia, their adoption in Western markets has been slower. But more tech companies seek to bring the same model to the U.S.

www-cnbc-com.cdn.ampproject.org

Think about the apps you use on your phone every day. Studies have shown Americans use an average of 46 mobile apps each month to complete a variety of everyday tasks.
Now imagine if you could combine all of those programs into a single, standalone app. A one-stop shop to socialize with friends, order food, pay rent, or even consult with a doctor — colloquially known as the "super app."

"We're all sick of the dozens of apps on our phones," said Arjun Kharpal, CNBC's senior technology reporter. "And the appeal of the super app is that all of the functions of those apps are in one place, in the super app itself. It's convenient, it's frictionless."
Perhaps the most prominent example of the super app is Tencent's WeChat, which began in 2011 as a simple messaging app in China and today boasts more than 1.3 billion monthly active users. The popularity of such apps can be attributed to several factors, including convenience, seamless user experience, and user behavior. While super apps have flourished in Asia, their adoption in Western markets, including the U.S., has been slower due to a variety of reasons.
"The regulatory environment in the U.S. today is certainly not as conducive to allowing a super app to develop," said Dan Prud'homme, assistant professor at Florida International University's College of Business. "There are still very strong protections on things like peer-to-peer lending, data privacy, antitrust and so on that don't allow the apps in the U.S. to quite thrive in the same way that WeChat could."
But things may be starting to change. In recent years, more and more tech companies have set their sights on bringing the super app model to the U.S.

Watch the video to find out what's behind the appeal of super apps in Asia, why the U.S. has been slower to adopt the "everything app" model, and whether we can expect a super app in the U.S. anytime soon

 

[farmerge]

an advocate!!

Why U.S. tech companies struggle to replicate China's WeChat 'super app' model

While 'super apps' have flourished in Asia, their adoption in Western markets has been slower. But more tech companies seek to bring the same model to the U.S.

www-cnbc-com.cdn.ampproject.org

Think about the apps you use on your phone every day. Studies have shown Americans use an average of 46 mobile apps each month to complete a variety of everyday tasks.
Now imagine if you could combine all of those programs into a single, standalone app. A one-stop shop to socialize with friends, order food, pay rent, or even consult with a doctor — colloquially known as the "super app."

"We're all sick of the dozens of apps on our phones," said Arjun Kharpal, CNBC's senior technology reporter. "And the appeal of the super app is that all of the functions of those apps are in one place, in the super app itself. It's convenient, it's frictionless."
Perhaps the most prominent example of the super app is Tencent's WeChat, which began in 2011 as a simple messaging app in China and today boasts more than 1.3 billion monthly active users. The popularity of such apps can be attributed to several factors, including convenience, seamless user experience, and user behavior. While super apps have flourished in Asia, their adoption in Western markets, including the U.S., has been slower due to a variety of reasons.
"The regulatory environment in the U.S. today is certainly not as conducive to allowing a super app to develop," said Dan Prud'homme, assistant professor at Florida International University's College of Business. "There are still very strong protections on things like peer-to-peer lending, data privacy, antitrust and so on that don't allow the apps in the U.S. to quite thrive in the same way that WeChat could."
But things may be starting to change. In recent years, more and more tech companies have set their sights on bringing the super app model to the U.S.

Watch the video to find out what's behind the appeal of super apps in Asia, why the U.S. has been slower to adopt the "everything app" model, and whether we can expect a super app in the U.S. anytime soon

Well no doubt the Glorious Super Clown aka The Trumpet will find a way that will enhance his bank balance at the same time.

 

[wayneL]

I am starting to see around the traps that if you want to use your card they will be a notice that there will be a surcharge, from local delis, to bottloes to service stations, typically circa 1%.

It's a signal to me that at least some businesses want to go more towards cash.

FWIW

 

[Dona Ferentes]

I am starting to see around the traps that if you want to use your card they will be a notice that there will be a surcharge, from local delis, to bottloes to service stations, typically circa 1%.

It's a signal to me that at least some businesses want to go more towards cash.

FWIW

a legal requirement to do so.