41–50 of 193 posts
Earlier quoted context omitted.
Yea but my credit card doesn't have a wireless radio built into it
As far as I can tell, the BLE radio in Coin is only used for detecting location, and doesn't expose any card details in any form.
For everyone who is poo-pooing Coin because it's not a digital wallet, please answer this question: How long from now will most merchants that accept credit cards also start accepting an e-wallet of some sort? I honestly would be stunned if this happened in <10 years. I think we very often underestimate how slow adoption rate is for new technology and how much money can be made by playing nice with the incumbent tech…
If I'm carrying a wallet or keys in my pockets in 10 years I'll be pretty disappointed.
The hating on Coin is unbelievable. It seems like a great first step towards backwards-compatible card consolidation. Are there going to be issues with it? Of course. Will it last in the long run? Well, the phone thing is obvious, kids. I bet these guys are aware of that and have a plan. Regardless, its an innovative piece of hardware that moves the ball. That's better than any of the shit I've built.
The hating on Coin is unbelievable. It seems like a great first step towards backwards-compatible card consolidation. Are there going to be issues with it? Of course. Will it last in the long run? Well, the phone thing is obvious, kids. I bet these guys are aware of that and have a plan. Regardless, its an innovative piece of hardware that moves the ball. That's better than any of the shit I've built.
>> Visa requires that merchants ship a product prior to charging any Visa debit card This is very new to me. This source here: http://usa.visa.com/download/merchants/card-acceptance-guide... States: >> You should not bill the customer until merchandise has been shipped That is a best practice, not a requirement.
I dislike this article: it seems to suffer from 'perfect is the enemy of good'-itis and willful misunderstanding of how complex -- and difficult -- commerce can be. The author basically argues that things should be wonderful and easy and the service providers should handle it all (ignoring the difficulties of such a provision): I should use a plastic card, cheap, easily replaceable, low cost (free in most cases), and…
Earlier quoted context omitted.
Yea but my credit card doesn't have a wireless radio built into it
As far as I can tell, the BLE radio in Coin is only used for detecting location, and doesn't expose any card details in any form.
It really seems like this author has some kind of bone to pick. Banks aren't going away soon. Banks are not going to make it easy for third-parties to proxy transactions soon. NFC or other non-card POS technologies are not going to be everywhere soon. Those are valid hopes or dreams, and I hope someone is working on it. But Coin promises to be a product that will reduce many cards to one now . And arguing whether a "…
I mention this because you propose banks as active resisters, but from how I see it they stand to make significant efficiency gains by just maintaining an app and website, as opposed to making plastic squares by the million, maintaining thousands of ATMs, even still printing chequebooks...
I dislike this article: it seems to suffer from 'perfect is the enemy of good'-itis and willful misunderstanding of how complex -- and difficult -- commerce can be. The author basically argues that things should be wonderful and easy and the service providers should handle it all (ignoring the difficulties of such a provision): I should use a plastic card, cheap, easily replaceable, low cost (free in most cases), and…
Coin is like "Google Voice for Credit Card". Its a layer that sits on top of an old, crusty infrastructure that hopefully crumbles with time, but until then, we have to deal with it somehow.
It seems ridiculous to try to kill the credit card with... a credit card.
I wouldn't be surprised if Clinkle, LoopPay, Square, or any of the many startups in this space kills the credit card (and thus Coin) before Coin makes its first delivery in Summer 2014.