2023-09-03 plastic money
As work is replaced by the sheer movement of information, money as a store of work merges with the informational forms of credit and credit card. From coin to paper currency, and from currency to credit card there is a steady progression toward commercial exchange as the movement of information itself.
Marshall McLuhan • Marshall McLuhan, W. Terrence Gordon - Understanding Media_ the Extensions of Man_ Critical Edition-Gingko Press
Interestingly though, neobanks still use one very traditional banking element: physical cards.
Julian Lehr • Banking on Status
In short, tangible money is insecure, inconvenient, easy to fake, and impractical for digital payments. Middleman-mediated money, or M3, solves these problems, but introduces problems of fees, lack of accessibility, and a different form of insecurity. Right now, we have to pick our poison.
Neel Mehta • Blockchain Bubble or Revolution: The Future of Bitcoin, Blockchains, and Cryptocurrencies
The IOU system works perfectly well for debts that can be repaid. Money evolved to solve a different problem, which is how to deal with debts that could not ever be repaid. We’re not talking about commerce here. We’re talking about religion, and debt to God.
Alex Danco • Debt: the First 5000 Years
Cards never really felt right when using them online. As we entered 2009, Satoshi gave us bitcoin, the first money truly built for the Internet. [His/her/their] disciples even gave it an orange coin logo and an "internet gold" meme.
Lawson Baker • Notion – The all-in-one workspace for your notes, tasks, wikis, and databases.
Money is a story. It is a story of what work has been done on credit that is yet to be redeemed. It is the Schelling point for universal credit. It is an IOU that everybody is willing to redeem (primarily because everybody is willing to redeem it) and hence that, at every instance of its transfer, it is re-ordained with the ascription of economic v
... See moreSacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
For consumers, this provides a level of optional anonymity that simply isn’t possible using a conventional credit card. You’re just spending digital cash in a P2P setting.
Chris Rempel • Part 2: creating the new frontier – Chris Rempel's Blog
Payments is defined as “The support of digital payment processes, platforms, and operations, which includes fiat on-ramps (a form of digital currency exchange) to pure-play digital currencies and financial services, including cryptocurrencies, such as bitcoin and ether, and other blockchain technologies.”