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Comment Re:Easy solution (Score 1) 470

The amount they can sell it to you also determines the price, competition also determines the price.

For example, when I bought my car, $20,000 car I asked for an spare key, they said it would be $400, it came with 2 keys already, so 4% of the value of the car was the keys? I can buy an entire alarm system, installed for less than that with two controllers. The reason the cost is so high is because they have a monopoly on those keys, nobody else can make them.

The point is, just because you can buy that part, for cheaper doesn't mean that actually costs the manufacture less to produce, it might, but not necessarily.

Comment Re:I'm not sure this is as bad as it sounds (Score 1) 67

First, fraud by people to close to you, would not be covered.

Second, they may make more by small transactions, it really depends on the risks, since it is hard to judge what percentage of small transactions actually get detected, because you need to know which ones don't. Only a criminal who is actually doing this can tell. That being said I don't know how much stollen credit card goes for but this article says $3.50
it wouldn't take many $5 transactions to make you money back.

Comment Re:I'm not sure this is as bad as it sounds (Score 3, Insightful) 67

2. All issuers employ fraud detection systems intended to identify the first fraudulent transaction. They aren't 100% effective, but getting better.

How would anyone know? Maybe people performing the fraud are getting better at not being detected, by either, the card company or the owner of the card. For example a small transaction over may cards maybe totally unnoticeable. If it is never reported as fraud, then it would never go into the bucket of undetected fraud. It is not like the criminals publish their proceeds from fraud somewhere.

That is why I don't like payment without pin, (this includes online payment, but that is another rant 8-)) because it allows, small payments without any secret I know. First it is quite possible I could miss a small charge, secondly if my children use my card, (still fraud) I am very unlikely to report them. If they are so confident in their fraud detection, and security of pin-less payment, remove the cap, I WILL notice $1000 dollars extra on my bill.

Comment Re: Torrent (Score 1) 311

Because, if you can than so can anybody else. It is not about banning guns it having a balance between letting responsible people who want guns own them and making it a bit harder to acquire for just anyone.

Sure you can argue criminals will get guns with or without a permit, and that is true, it is just making it a bit tougher, than that guy just pissed me off, I will just pop in to 7-11, pick up a gun and shoot him. Getting a permit should not be a problem if you really want a gun, and you don't have a violent criminal record.

This is why this law to ban 3D gun blueprints is silly, 3D printed guns are not that good, it is probably better, cheaper and easier buy a real gun, it would be almost impossible to enforce, what is that encrypted file on your computer, I don't know, and I forgot the password, sorry. And unless you ban the blueprints every where in the world, all you would need to do is download the plan on demand.

Comment Re:I have no debt and a hefty savings account (Score 1) 386

That is not true, I always pay off my credit card debt in full each month, (Ok once I didn't accidentally transferred $100 less once 20 years ago, go stung with about $4 in interest for a few days interest, they charge you for the whole amount not just the amount overdue), I do occasionally get offers to increase my credit limit.

I am not saying you are not more likely to get offers to increase your limits if you don't pay, just that sometimes you do get offers even if you do pay in full.

Comment Re:I have no debt and a hefty savings account (Score 1) 386

No that is not how it works, if the credit card company gives you $1000 and you spend that $1000 that month they are not out anything for that month, I believe they do not pay the vendor any money either. That is you owe them $1000, they owe the vendor(s) $1000 you are not using there money at all. Not until you do not pay the full amount on your bill do they actually start incurring an interest cost, because they have to pay the vendor anyway. That is why cash advances incur interest immediately since they pay the money immediately. Also that is why you can cancel a payment easily, since the credit card company hasn't paid anybody anything yet.

Comment Re:I have no debt and a hefty savings account (Score 1) 386

There are reasons, it is sometimes financially advantageous to buy stuff on a credit card, you get use of the money free for about a month so you may get/save interest, (especially if you have a revolving credit home loan you are offsetting it against) also you maybe on a rewards scheme. Your system still works for rewards schemes, but it is just more convenient not to put the money in. But for interest it defeats the purpose to put the extra money in before the due date.

Comment Re:I have no debt and a hefty savings account (Score 1) 386

When someone with an advanced math degrees tries to sell you something, there is quite probably something you missed, but it probably is not in your favor. (applies to all ads really)

If your maths skills are lacking consult someone independent has the skills. Also I would not consider finance advanced math.

Comment Re:I'm glad but only $718,000 is peanuts (Score 1) 138

What we need is an imprisonment clause, If you as a person take somebodies money illegally you can go to jail, companies want the same rights as individual, they should have the same consequences. If it happens send the responsible person(people) (CEO) to jail, see how fast the accounting, and infringing stops.

"Spock, did you see the looks on their faces?" "Yes, Captain, a sort of vacant contentment."