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A gentleman is not fully dressed unless he has some cash to tip the valet and/or help. Or am I the only one eating at Del Frisco's every night?

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52 minutes ago, Rougarou said:

A gentleman is not fully dressed unless he has some cash to tip the valet and/or help. Or am I the only one eating at Del Frisco's every night?

Cyborg etiquette dictates that one not look up from one's phone while accepting the bag of food from the delivery person. This will become moot when future tech bros design nutrients that can be extruded from the phone itself.

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I went to a Tiff's Treats the other day and they are cashless-- they don't even have the option to accept cash. I thought that was pretty funny.

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3 minutes ago, Rougarou said:

I went to a Tiff's Treats the other day and they are cashless-- they don't even have the option to accept cash. I thought that was pretty funny.

Bet it's becoming tough to rob stores nowadays or even people.

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32 minutes ago, Rougarou said:

I went to a Tiff's Treats the other day and they are cashless-- they don't even have the option to accept cash. I thought that was pretty funny.

That's a shame too, nothing more pimp than plunking down a crisp $10 for a little box of Oatmeal Raisin.  

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20 hours ago, Rougarou said:

I went to a Tiff's Treats the other day and they are cashless-- they don't even have the option to accept cash. I thought that was pretty funny.

They just don't trust their help.

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The World Economic Forum (WEF) — together with some of the world's major central banks — has created a central bank digital currency (CBDC) policymaker toolkit.

According to an announcement on Jan. 22, the toolkit is the WEF's attempt to help policy-makers understand whether deploying a CBDC would be advantageous and guide them through its design.

The WEF collaborated with regulators, central bank researchers, international organizations and experts from over 40 institutions to develop the framework. ...

The WEF’s framework divides CBDCs into three categories: retail, wholesale and hybrid. The first category allows non-financial users to hold digital currency accounts, while the second is an electronic system granting access to the central bank reserve that could be used by commercial banks and other financial institutions for interbank and security transactions.

Hybrid CBDCs allow financial institutions that do not usually have access to a central bank deposit facility to hold reserves at it. This would enable stronger safeguards and monitoring of those organizations and improve interoperability between different payment systems, according to the WEF.

The paper explains that in the case of a DLT-based CBDC, the central bank would preserve full control over the issuance of the digital currency ...

https://cointelegraph.com/news/world-economic-forum-debuts-framework-for-central-bank-digital-currency

Perhaps I would need to read the details of the framework, but I'm wondering how reserve banking would work exactly with DLT based CBDCs.  In any event, looks like central banks are giving serious thought to cryptocurrencies.

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Mentioned this in another thread.  While doing my taxes on TaxAct, I was required to state whether I had participated in any transaction with virtual currency in 2019. Simple yes/no, but the irs will soon want more info about it.

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DAVOS, Switzerland — A growing number of voices are calling for the U.S. to issue a "digital dollar" as China continues to work on a digital version of its own currency.

Users of the U.S. dollar are "underserved by an analogue currency in a digital world," Christopher Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), said during a side event at the World Economic Forum in Davos.
...

https://www.msn.com/en-us/money/markets/calls-for-a-us-digital-dollar-rise-as-china-powers-ahead-with-a-digital-yuan/ar-BBZgb6L?ocid=spartandhp

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The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency, Governor Lael Brainard said on Wednesday.

Brainard’s remarks suggest more openness to the possibility of a Fed-issued digital coin than in the past.

“By transforming payments, digitalization has the potential to deliver greater value and convenience at lower cost,” Brainard said at a conference on payments at the Stanford Graduate School of Business. She did not touch on interest rates or the current economic outlook.

“But there are risks,” Brainard said, in a partial reprisal of her own and other global central bankers’ worries about the rise of private digital payment systems and currencies, including Facebook’s Libra digital currency project.

“Some of the new players are outside the financial system’s regulatory guardrails, and their new currencies could pose challenges in areas such as illicit finance, privacy, financial stability and monetary policy transmission,” she said.

Central banks globally are debating how to manage digital finance technology and the distributed ledger systems used by bitcoin, which promises near-instantaneous payment at potentially low cost.

The Fed is developing its own round-the-clock real-time payments and settlement service and is currently reviewing 200 comment letters submitted late last year about the proposed service’s design and scope, Brainard said.

But the Fed is also, she said, “conducting research and experimentation related to distributed ledger technologies and their potential use case for digital currencies, including the potential for a CBDC (central bank digital currency).”

Dozens of central banks globally are also doing such work, a recent international study showed, with China moving ahead on plans to issue a digital coin.
...

https://www.reuters.com/article/us-usa-fed-brainard/fed-looking-into-central-bank-digital-coins-brainard-says-idUSKBN1ZZ2XF

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they told our very small, but very federally-50 state chartered bank, that it's now okay to entertain CBD banking (they had approached us initially because the wildly varying laws on CBD/hemp ranged so broadly from state to state, federally chartered banks seemed to be the place to be).  this despite being warned 18 months ago that we would all face time in federal prison for even talking with such companies.  

 

You live long enough.......you see something..  Something.  And the other thing.  

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From the annals of “bern and his goldbug buddies certainly never expected this” chronicles...

https://www.google.com/amp/s/www.nytimes.com/2020/01/23/nyregion/nyc-cashless-ban.amp.html

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1 hour ago, Fudge Nuggets said:

Wait, we can now deposit weed into our stash?

huhuhuhuhuhuuuuuu yougonnaeatthatdude?

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On 2/17/2020 at 7:43 AM, sidis said:

From the annals of “bern and his goldbug buddies certainly never expected this” chronicles...

See post 58.  It's nice to see some local (ie. at the city level mostly) pushback on cashless disenfranchisement, but that's not going to stop a paradigm shift at the national level should the Fed develop a solution for a digital currency.

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Shit is getting real...

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As the markets continue to drop and the U.S. looks to Congress for agreement on a massive stimulus package to save the economy from impacts of the coronavirus pandemic, the newest offer by House Democrats includes a very forward-looking kind of stimulus: the creation of a ‘digital dollar’ and the establishment of ‘digital dollar wallets.’ In what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital currencies around the world, this signals the U.S. is serious in establishing infrastructure for a central bank digital currency.

Both Speaker Pelosi’s ‘Take Responsibility for Workers and Families Act’ and the ‘Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act (H.R. 6321),’ introduced by Chairwoman Maxine Waters of Financial Services Committee, introduced these concepts today as a way of delivering the economic stimulus payments to U.S. citizens.

The bill establishes a digital dollar, which it defines as ‘a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal Reserve Bank or ... an electronic unit of value, redeemable by an eligible financial institution (as determined by the Board of Governors of the Federal Reserve System).’ Additionally, a digital dollar wallet is identified as ‘a digital wallet or account, maintained by a Federal reserve bank on behalf of any person, that represents holdings in an electronic device or service that is used to store digital dollars that may be tied to a digital or physical identity.’

A mandate also requires all ‘member banks’ establish a ‘pass-through digital dollar wallet’ to all customers eligible for the stimulus. Member banks include those banks that are ‘members’ of the Federal Reserve and regulated by the Fed. Additionally, ‘Non-Member’ state banks - those that not members of the Federal Reserve and regulated by the FDIC - could opt-in to offer pass-through digital dollar wallets as well.

The Federal Reserve banks themselves would also make available a digital dollar wallet to any U.S. person eligible for the payments as well. Additionally, the U.S. Postal Service would aim to help unbanked individuals and/or those without proper ID to establish their identity be provided a digital dollar account, and would set up ATMs for customers to access their funds.
...

https://www.forbes.com/sites/jasonbrett/2020/03/23/new-coronavirus-stimulus-bill-introduces-digital-dollar-and-digital-dollar-wallets/?fbclid=IwAR3lAi6X7I69UZGlxFUl4lXoQpd9mv0oajABnGBGtGEzVAbtyUHyo_AZ3gc#37f7969c4bea

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Bloomberg opinion beating the drum with Pollyanna glasses on...

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...
The solution: We need a digital dollar, a currency that all Americans can use to transact in the 21st century economy. And this crisis offers an ideal opportunity to create it.
...

https://www.bloomberg.com/opinion/articles/2020-03-24/coronavirus-stimulus-let-s-pay-it-in-digital-dollars?srnd=premium

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