What cheeses me off

[tgh]

The world is investing a lot of money in AI, and committing ordinary folks to a substantial involvement.
Simple things like the amount of power required is sobering.
For many, the concern is about it all collapsing and plunging the world into darkness...

 

[Quickstatus]

For many, the concern is about it all collapsing and plunging the world into darkness...

Large data centres might need their own small modular nuclear reactors.

There is a university in the US currently building its own nuclear reactor

 

[prozac]

Large data centres might need their own small modular nuclear reactors.

There is a university in the US currently building its own nuclear reactor

Bill Gates refurbing an old reactor and building data centre nearby.

 

[Quickstatus]

Bill Gates refurbing an old reactor and building data centre nearby.

Well, Microsoft has an agreement to buy the power. The reactivating of Unit 1 reactor at 3 Mile Island is undertaken by an unrelated company. (Unit 2 was the one involved in the nuclear accident)

 

[JohnK]

5% or .5%?

5% is way too high! I got sent some money as a chair ist as present from a relative… it went from major bank (overseas) to major bank (Aussie). The fee was 3.5% was I already think was daylight robbery! But 5% would be excessive!

You are probabpy right.

Out of curiosity who benefits from my earlier example where the function room was $460 and surcharge was $7.82? If bank is charging/making .5% which would be $2.30 who is makimg a profit from the remainder? This is online payment so no physical terminal. The function room?

 

[MEL_Traveller]

You are probabpy right.

Out of curiosity who benefits from my earlier example where the function room was $460 and surcharge was $7.82? If bank is charging/making .5% which would be $2.30 who is makimg a profit from the remainder? This is online payment so no physical terminal. The function room?

Different surcharges for different cards. It can only be what it costs the merchant. So if the merchant is paying 1.5% or whatever, they can pass that on to you. They can’t make a profit.

Where they can make a profit is for transactions overseas where they can try and sneak in dynamic currency conversions. I understand the bank and the merchant share the profits there… and they can be substantial.

How it costs banks 3.5% for foreign transactions I’ll never know given some credit cards charge none! That real,y should be the next thing the ACCC looks at!