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pierredv : money   26

Why the end of cash could cause a new data disaster | New Scientist, Aug 2018
"The convenience of card and mobile payments means cash use is in freefall globally. But we haven't thought through the consequences of an all-digital world."

"But the use of cash is in free fall. According to trade association UK Finance, fewer payments will be made with cash than by debit card in the UK for the first time in 2018. The proportion of cash payments in the UK dropped from 62 per cent of transactions in 2006 to 40 per cent in 2016, and is projected to fall to just 21 per cent in 2026 (see “Money down the drain”)."

"Despite negative interest rates, cash use is falling unusually rapidly in Sweden: the proportion of cash payments declined from 39 per cent in 2010 to 13 per cent in 2018. About 60 per cent of Swedes already use a mobile app called Swish that allows people to instantly transfer money between different bank accounts just by tapping in a phone number."
NewScientist  economics  commerce  finance  blockchain  money 
december 2018 by pierredv
Richard Thaler wins the Nobel prize for economic sciences - Free exchange, The Economist Oct 2017
"Setting out to explore why people feel losses more keenly than gains, he helped uncover the endowment effect: a tendency to value something more highly just because you own it."

"The importance of context also arose in Mr Thaler’s work on “mental accounting”. In thinking about money, people tend to compartmentalise, grouping certain types of spending or income together. ... In some cases this might amount to a strategy for managing imperfect self-control (as in the credit-card debt example). More broadly, it reflects the human tendency to tackle cognitive problems in pieces, rather than as a whole. "

"Mr Thaler, with his colleague Hersh Shefrin, understood choices as battles between two competing cognitive forces: a “doer” part of the brain focused on short-term rewards, and a “planner” focused on the long term. Willpower can help suppress the doer’s urges, but exercising restraint is costly. "
Richard-Thaler  Nobel-Prize  economics  TheEconomist  psychology  money  cognitiion 
january 2018 by pierredv
Is bitcoin money? Are Airbnbs hotels? Why courts have trouble deciding. - CSMonitor.com
The United States is divided on the issue. In 2014, the Internal Revenue Service defined virtual currency as property, for federal tax purposes. The Securities and Exchange Commission, on the other hand, has deemed it as currency, and the Federal Trade Commission says it’s a commodity.

“Bitcoin is not a currency, it’s not a commodity, it’s a computer protocol,” Marco A. Santori, a partner specializing digital currency at Pillsbury Winthrop Shaw Pittman in New York City, tells the Monitor.
CSMonitor  law  money  finance  IRS  SEC  FTC  bitcoin 
july 2016 by pierredv
Hedging Their Bets: How The Pros Diversify Their Poker Portfolios - NPR Planet Money Mar 2016
Story by Keith Romer
"Big league poker tournaments put millions of dollars at stake for the players. But behind the scenes there is another money game going on, something of a mini-Wall Street."
NPR  money  investing  poker  gambling  risk 
march 2016 by pierredv
Somalia’s mighty shilling: Hard to kill | The Economist Mar 2012
"USE of a paper currency is normally taken to be an expression of faith in the government that issues it. Once the solvency of the issuer is in doubt, anyone holding its notes will quickly try to trade them in for dollars, jewellery or, failing that, some commodity with enduring value (when the rouble collapsed in 1998 some factory workers in Russia were paid in pickles). The Somali shilling, now entering its second decade with no real government or monetary authority to speak of, is a splendid exception to this rule."
money  finance  Africa  TheEconomist 
april 2012 by pierredv
Richest and ‘poorest’ members of Congress - The Washington Post
"Members of Congress with the highest and lowest net worth in 2010, according to an analysis by the Center for Responsive Politics based on disclosures filed by the lawmakers."
photography  people  politics  USA  WashingtonPost  money  lobbying 
december 2011 by pierredv
Occupy George
"Money talks, but not loud enough for the 99%. By circulating dollar bills stamped with fact-based infographics, Occupy George informs the public of America's daunting economic disparity one bill at a time. Because money knowledge is power."
via:gmsv  money  activism  advertizing  design 
october 2011 by pierredv
Portfolios of the Poor
"This book shows that many poor people have surprisingly sophisticated financial lives, saving and borrowing with an eye to the future and creating complex "financial portfolios" of formal and informal tools."
Via Roanne Edwards, Oxfam America, 18 Nov 2010
poverty  development  economics  money  book  * 
november 2010 by pierredv
The Associated Press: Report: Money can buy you happiness, to a point
People's emotional well-being - happiness - increases along with their income up to about $75,000, researchers report in Tuesday's edition of Proceedings of the National Academy of Sciences
happiness  psychology  experiment  money 
september 2010 by pierredv
M-PESA mobile money
Only 4 million Kenyans have bank accounts. But 10 million people in the country now use the M-PESA money transfer service. This short film shows how mobile money is changing the face of banking in Kenya
x:CGAP  money  finance  africa  Kenya  ** 
august 2010 by pierredv
The New $100 Bill and the War Against Counterfeit Money - WSJ.com
Why dollar bills are green: "But a proliferation of photographic counterfeits prompted the creation of new colorful inks, including the invention in 1857 of a new kind of green ink that used chromium trioxide. The delicate green lines printed in this ink could not be replicated with the black-and-white photography of the day; it would appear as a black mass when photographed"
money  x:wsj  invention  color  counterfeiting  history 
april 2010 by pierredv
The future of payments « The Futures Company - Andrew Curry
"One of the likely effects is the fragmentation of devices, rather than convergence .... We should expect fragmentation of currencies as well"
trends  money  finance 
march 2010 by pierredv
infographic money concept
"tokyo based designer mac funamizu wondered what would happen if we rethought how coins were
designed with an infographic perspective. funamizu remarks on the merits and drawbacks of round
coins. while he acknowledges their benefits he wanted to see if they could be redesigned in a way that
was more universally understood. this would benefit travelers and people not accustomed to a specific
currency. the idea barrows from the world of graphic design, giving each coin an infographic form that
corresponds to pie charts. a one dollar coin is a circle, while a two dollar coin is two. the smaller
increments are segments of the circle or perforated to show what percentage they represents. while this
idea wouldn’t work very well in things like vending machines, it makes you think about alternative
ways we could design money."
design  money  infographics  via:richardbanks  ** 
january 2010 by pierredv
The mystery of money: Both sides of the coin | The Economist
very positive review
"Mr Lonergan concludes, somewhat sheepishly, that money would cause less damage if people did not think about it so much. With this slender but stimulating book, he provokes the opposite reaction. "
books  finance  money  ***  TheEconomist 
december 2009 by pierredv
The History of Credit & Debt
good set of pages; have to page through to find the good stuff
history  money  intangibles  finance 
july 2007 by pierredv

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