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[ZDNet] The Future Of... Credit Cards [video] - Page 4

post #31 of 60
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Quote:
Originally Posted by Hephasteus View Post
It won't. Our money system uses interest which is an exponential thing but it's tied to regular linear accounting so we don't see how very exponential it is. Interest needs an internal and external component to work. In otherwords to pay back the interest you have to have some form of self/other relationship where you can pull something from outside and bring it in. When the goldsmiths first started loaning out gold at interest in the 1600's it worked perfectly they pulled in more gold from outside sources. But when they got so big and wealthy that they finally started covering most of the participants in the system there was not enough outside to feed the inside. And it crashed because they eventually ended up with 10 paper reciepts for every ounce of gold.

There are credit card companies right now that are charging 30 percent and 70 percent which means the amount owed doubles every 2.33 years or every year. The system we have now has run and it has created what it creates. Banks that are more and more leveraged and weaker and weaker and mythical linear accounts that say a whole bunch is owed with no pathway to ever repay it. So you end up with all these meaningless nonexistant monies that just hang around computers and play rich like farmville bucks.

I love computers because it's simply steeped in exponentials. From moore's law to the very basic doubling. And it's good to give you a perception of how the exponential things match up with linear things.

http://www.youtube.com/watch?v=F-QA2rkpBSY
One cannot even begin to calculate a human's capacity for greed, not even..

Inflation & Deflation can happen in much larger multipliers and dividers, overnight too!
Edited by _GTech - 2/12/11 at 8:59pm
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post #32 of 60
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Quote:
Originally Posted by 0rion View Post
I have an app on my HTC HD2 that will take a picture of a barcode on the back of a CC or debit card, and when you check out, you can bring up the image of that barcode, and have the cashier swipe your phone over those tag reader things. it'll get the card info from that, and you'll be able to check out.

That having been said, I havent tried it, and not all cards have those barcodes.
I have an app on my HTPC it can buy anything you want from right off the TV, it's called a web browser, no phone needed...

Furthermore, Debit Cards are much better than credit cards, by far...

Debit cards won't let you overspend, credit cards HOPE you overspend...

If anything is worth talking about, it's the value of the dollar, which is definitely not what it use to be thanks to a severe lack of financial education in our school systems...
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post #33 of 60
Quote:
Originally Posted by Epitope View Post
I know that I will probably get flamed for this but I still use cash whenever possible. I don't like the idea of everything being digital. I fear the day when cash is eliminated and everything is digital.

I still do not even own a credit card. I only use debit. I'm one of those crazy people who lives within my means and saves up for things before hand instead of paying ridiculous interest on it afterwards...
kudos to you for living sensibly. Just saying though, digital currency isn't any more arbitrary than a piece of plastic/paper.
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post #34 of 60
Sorta defeats the point of credit cards in the first place.

A step in the right direction but in the wrong area, besides, hasn't Paypal had something similar to this for a while? I remember reading about it somewhere.
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post #35 of 60
Quote:
Originally Posted by _GTech View Post
The SIM card is traceable to within 100 feet, even if the phone is off...

Do you really want to know how long it will take the FBI to get you?

Minutes..
whered you get this load of **** from?
only way its traceable is through triangulation when connected to a cellular network which is a long process and is useless if your not stationary...itll give an estimate location which will be miles from where you actually are...good for high value targets but overall useless
post #36 of 60
Quote:
Originally Posted by AzO View Post
Japan yawns when they see tech like this and the iPhone.
they sure dont yawn lining up for apple products
post #37 of 60
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Quote:
Originally Posted by Clipze View Post
whered you get this load of **** from?
only way its traceable is through triangulation when connected to a cellular network which is a long process and is useless if your not stationary...itll give an estimate location which will be miles from where you actually are...good for high value targets but overall useless
Would you be willing to put your money where your mouth is?
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post #38 of 60
Ughhh... credit cards.
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post #39 of 60
Sweet!
 
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post #40 of 60
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Quote:
Originally Posted by AzO View Post
Japan yawns when they see tech like this and the iPhone.
I yawn at micro & nano tech too..
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