Coin

[twentynine30s 1]

Not sure how many of you have heard about this little neat device. Coin is a credit card sized device that will allow you to store multiple cards (credit cards, debit cards, gift cards, membership cards, etc) and use this as a payment device instead of carrying all your other cards in your wallet.

 

Check out the site and the FAQs.. they offering pre-orders now for 50% off (which will start shipping Summer 2014). I pre-ordered mine and wanted to post up a referral link incase anyone else was interested.

 

https://onlycoin.com/?referral=VUFn7CAd

 

 

FYI, I don't work for nor am I affiliated with them.

 

-Chris

[dwamp2006 1]

Seem like a neat idea, but with it being new I'd wait it out to let them iron out all the bugs.

[mipafox 438]

Awesome. What could possibly go wrong?

[ogfarmer 138]

My cousin is involved (developer) with this endeavor. I will have to find more out about this. He also heavily involved with Bitcoin and those type of things. I dont talk to him really, He's out there in SF with all the libs

[ryan_j 0]

I think the biggest problem will be acceptance. Some might not take it thinking "fraud."

[JackDaWack 2,895]

It's actually a great little device for those with many cards, the only problem is it's built around outdated dying technology(magnetic strips).

[JackDaWack 2,895]

I think the biggest problem will be acceptance. Some might not take it thinking "fraud."

It's actually not authorized by CC companies so yes, basically everywhere could deny the use.

[RecessedFilter 222]

Doesn't it work via Wifi? What if there is no wifi in the area?

[JackDaWack 2,895]

Doesn't it work via Wifi? What if there is no wifi in the area?

Bluetooth

[Vlad G 345]

Sure, because why not give Google (via Android) access to all my records? Why not create yet another avenue of getting my credit card hacked? Why not depend on yet another gizmo that can fail at the worst time?

 

You know what can manage all my money, compactly, accepted anywhere, hack free, monitoring free?  Cash.

 

It is almost like we had a solution for these problems all along or something.

[pjd832 146]

Yeah seems a lot easier for the other guy to get all your data on one dump...no thanks...but that's coming from a guy that always pays cash for everything but utilities and keeps minimal amounts of cash in a bank account to pay those

[pjd832 146]

Sure, because why not give Google (via Android) access to all my records? Why not create yet another avenue of getting my credit card hacked? Why not depend on yet another gizmo that can fail at the worst time?

 

You know what can manage all my money, compactly, accepted anywhere, hack free, monitoring free?  Cash.

 

It is almost like we had a solution for these problems all along or something.

Haha exactly!

[JackDaWack 2,895]

Sure, because why not give Google (via Android) access to all my records? Why not create yet another avenue of getting my credit card hacked? Why not depend on yet another gizmo that can fail at the worst time?

 

You know what can manage all my money, compactly, accepted anywhere, hack free, monitoring free?  Cash.

 

It is almost like we had a solution for these problems all along or something.

I had the same concerns, but on the other hand it's actually more secure then a regular card because it doesnt have ALL the info written on it for anyone swiping your card to steal. There are a lot of security aspects they took into consideration... but the ability to hack them is always there.

[twentynine30s 1]

Yeah seems a lot easier for the other guy to get all your data on one dump...no thanks...but that's coming from a guy that always pays cash for everything but utilities and keeps minimal amounts of cash in a bank account to pay those

Someone swiping your wallet or even handing over your credit card to a waiter or gas attendant would be much worse. By using Coin, they do not have access to your full account number and cvv code.

[Howard 538]

Acceptance might be a problem.  Merchants get charged a higher fee when they accept a credit payment when the card is not present.  Merchants might not want to accept this as it is not "The" card and they might have to pay more to their processors.  Yea I know all the information is there, but strictly speaking it is still not "The" card.

[bhunted 887]

Someone swiping your wallet or even handing over your credit card to a waiter or gas attendant would be much worse. By using Coin, they do not have access to your full account number and cvv code.

What about that same waiter hitting the button changing cards and scanning every account in there.

I'm all for neat and futuristic tech, but meh....

Anyway, neat idea, but I'm also concerned with everything in one pot. One card gets scammed, you make a call, it gets shut down. Having them all scammed can leave you broke for the short period getting a new account and essentially being stranded too.. I can only guess the card companies may render you without protection and void your agreement possibly permanently closing your account.

 

 

Sent from my iPad 2 using T2 Pro

[JackDaWack 2,895]

What about that same waiter hitting the button changing cards and scanning every account in there.

I'm all for neat and futuristic tech, but meh....

Anyway, neat idea, but I'm also concerned with everything in one pot. One card gets scammed, you make a call, it gets shut down. Having them all scammed can leave you broke for the short period getting a new account and essentially being stranded too.. I can only guess the card companies may render you without protection and void your agreement possibly permanently closing your account.

 

 

Sent from my iPad 2 using T2 Pro

This is already addressed by coin, you can lock it.

[bhunted 887]

This is already addressed by coin, you can lock it.

Ok, but what about the part of my second concern? You lose it, all goes away. Does anyone know if the cc companies will honor their agreement if your info gets compromised using that card? They might tell ya to kiss off and you are really screwed.

Until the world of plastic honors, agrees, gets onboard, etc. I'm staying on the fence. Not

Iike I have a lot of cards anyway. I'd rather have none at this point. Or just my debit card.

 

 

Sent from my iPad 2 using T2 Pro

[JackDaWack 2,895]

Ok, but what about the part of my second concern? You lose it, all goes away. Does anyone know if the cc companies will honor their agreement if your info gets compromised using that card? They might tell ya to kiss off and you are really screwed. Until the world of plastic honors, agrees, gets onboard, etc. I'm staying on the fence. Not Iike I have a lot of cards anyway. I'd rather have none at this point. Or just my debit card. Sent from my iPad 2 using T2 Pro

I guess that depends on whether or not you tell the CC company your using a coin.. I'm in the middle when it comes to coin, i see the benefits and the obvious concerns. the biggest issue i see is the fact most CC companies are switching to RFID and starting 2015 all liability for fraud charges using the magnetic strip will be placed on the merchant. NOT the CC company. they will however honor fraud with RFID. they want the magnetic strips gone.

[deerpark 83]

Gettin us one step closer to a universl ID/payment system on our way to a cashless society centrally controlled in DC.