Karnage and 248 others

2mo ago

Why do coins still exist? Couldn’t we just agree to round up or round down collectively and just do away with them? If something cost 5.05 just pay 5. If it’s 5.51 just pay 6. Should balance out eventually and everything would reprice in whole units 🤔

Extremely dumb idea?

See translation

Do you have thoughts?

Replies

@OB

2mo ago

How would I get my shopping cart?

See translation

Leafophonist

@Leafophonist

2mo ago

belarus got rid of coins for a time but then brought them back

See translation

StellarStoic

@StellarStoic

2mo ago

This would defeat the purpose of $0.99 stores

See translation

JordanP

@JordanP

2mo ago

Are you saying that less is more?

See translation

Self Wealth 011235813213455

@SelfWealth

2mo ago

why not round up to the nearest $100?

See translation

Karnage and 248 others

@Karnage and 248 others

2mo ago

Oof 😅

See translation

SLCW

@SLCW

2mo ago

In aggregate, those coins add up to a lot of money. Businesses would either have to leave that money on the table, or raise consumer prices. And I think it would be difficult to get everyone on board. Some businesses would do it, others wouldn't. Therefore the coins would still be necessary.

See translation

Karnage and 248 others

@Karnage and 248 others

2mo ago

New law, no coins. Figure out the rest 🤷‍♂️

See translation

Kevin Alfred Strom

@kevin_strom

2mo ago

Many people are already doing this when they say "keep the change" at a retail store. Done it many times myself. Fun fact: In the first half of the 19th century, half-cent coins were minted and widely used, and the "mill" ( a tenth of a cent) is still officially a unit of US currency.

See translation

kman2140

@kman2140

2mo ago

I agree - 1 Sat will be = 1 Sat, not = 1 cent

See translation

OΞHI ⚡️🧡 (85k Gang)

@OΞHI ⚡️🧡 (85k Gang)

2mo ago

It was priced in whole units until it wasn't. Cents where the standard

See translation

OΞHI ⚡️🧡 (85k Gang)

@OΞHI ⚡️🧡 (85k Gang)

2mo ago

*Were

See translation

nym

@nym

2mo ago

Inflation

See translation

Austin

@Austin

2mo ago

The do rounding on federal tax returns. Even the IRS doesn’t want your pennies

See translation

TallBrian

@bitcoin4all

2mo ago

Here’s me pricing everything to $5.51. Sucka!

See translation

Karnage and 248 others

@Karnage and 248 others

2mo ago

If that happened people would see the shadiness and just look for alternatives … or not. We already do this with .99 and few complain

See translation

Evan

@Evan

2mo ago

They got rid of pennies like that in Canada a few years ago. Round up or down to the nearest nickel.

See translation

Karnage and 248 others

@Karnage and 248 others

2mo ago

Didn’t know this

See translation

Dan Wedge

@WedgeSocial

2mo ago

we no longer have pennies in canada. in change you round up or down, digital still uses the whole range

See translation

Karnage and 248 others

@Karnage and 248 others

2mo ago

Interesting

See translation

Dan Wedge

@WedgeSocial

2mo ago

it cost something like double or triple to mint them from metal so they abolished them ~10 yrs

See translation

Cameri

@Cameri

2mo ago

Those are for the ponds and fountains

See translation

@pj

2mo ago

For kids to swallow

See translation

nrbts

@nrbts

2mo ago

The Netherlands has done this for ages

See translation

Karnage and 248 others

@Karnage and 248 others

2mo ago

TIL

See translation