I'm a sucker. I jumped in. All credit cards in one card.

[Chakravartin]

I'd still have to carry a couple of barcode-only cards.

[Robert M]

Chak,

I read that and it seems conflicting to me. If it's a stand-alone device then it shouldn't be dependent on security features provided by the phone and mobile app. It should be dependent on the phone at all.

But, I understand syncing it to a phone for management of the cards. I'd rather it be able to be done on the device itself but I understand the reason for doing it on the phone. Same goes for security. Security should be configurable on the device itself and the phone should have no bearing on it.

I'd love to see a demonstration of the mobile app for sending card info to the Coin and the security of the coin in action. If nothing else, it'll show people how easy it is to manage cards and whether or not it's a secure stand-alone device.

Robert

[deckeda]

The phone is Coin's interface for some features and functionality. That's not the same thing as being equal to all relevant features and functionality.

In other words Coin could be 100% configurable by itself but offer no additional function nor security except for your perception of it.

It'll help to think less in terms of feelings and "shoulds" and more in terms of actual scenarios.

[Robert M]

Deck,

Actual scenario? No can do since the product isn't available yet. All we have is shoulds and feelings based on what is presented on the web site. Right now the idea is nifty on the surface but that's about it. The actual mechanics of it may or may not work as well as described on the site. Understandably, I'm leery.

Robert

[DRR]

Robert M wrote:
Chak,

I read that and it seems conflicting to me. If it's a stand-alone device then it shouldn't be dependent on security features provided by the phone and mobile app. It should be dependent on the phone at all.

From my understanding of the video, and the FAQ, the Coin is dependent on the mobile for the initial input of the card information. That's it. The security feature (bluetooth) is not essential for it to work. You can turn it off.

But, I understand syncing it to a phone for management of the cards. I'd rather it be able to be done on the device itself but I understand the reason for doing it on the phone. Same goes for security. Security should be configurable on the device itself and the phone should have no bearing on it.

The coin, once it has your CC information in it, is just as secure as your "dumb" credit card is now. You leave your CC behind at a restaurant, and anyone can see the number, security code, expiration, etc. It's inherently not any less secure, aside from the fact that it has multiple cards information stored within. This is why I alluded to carrying a "dumb" card in cases where I have to lose sight of my card. Losing a coin, is no different and no less secure (or insecure) than losing your wallet.

I'd love to see a demonstration of the mobile app for sending card info to the Coin and the security of the coin in action. If nothing else, it'll show people how easy it is to manage cards and whether or not it's a secure stand-alone device.

Robert

I don't believe it's billed as a secure stand-alone device. Then again, neither are the cards you have in your wallet right now. The coin is for convenience, not security.

[mattkime]

I see this as a kickstarter like thing. we'll see how the details get worked out once they ship.

[Acer]

I like it for the cool way the credit cards that are in it float above it for selection.

[deckeda]

[quote=DRR] ... Then again, neither are the cards you have in your wallet right now. ...{/quote]

And to reiterate what you said, any card you normally carry with a security code on the back is inherently less secure than Coin*. The stereotypical "waiter" who takes my card doesn't even need a scanner, just a sheet of paper to write the card's info on it and then go buy something online.

*Unless Coin also stores the security number/makes it available for viewing on the device itself, which I don't think it does.

[mrlynn]

Interesting idea. I typically use only my Chase Amtrak Guest Rewards card and one or two discount cards, so really no need for this device.

But then there's my driver's license, insurance cards, AAA card, photo of lovely wife, antique 3rd-class radiotelephone operator's license. . .

/Mr Lynn

[Robert M]

DRR,

"The coin, once it has your CC information in it, is just as secure as your "dumb" credit card is now."

Actually, it may be more secure. You may be required to either have the bluetooth security enabled or a different type of security enabled to access the cards within the Coin. At least, I hope this is the case, otherwise I'd be all the more leery of it.

Imagine you leave the coin on a counter by mistake. How would someone who picks it up access the info? Theoretically, the bluetooth security system would prevent access. But, what if that isn't enabled? How does the Coin protect the data it contains? I would hope there is a two-stage security system. Stage one being bluetooth and stage two something else, i.e. a passcode like on your iPhone.

Robert