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Coin: A step in the wrong direction

techendo.co

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Re: Coin: A step in the wrong direction

#111

Post by delive »

danudey wrote: post #93
bradgessler wrote: post #88

Earlier quoted context omitted.

The product manages to create more headaches for the consumer I have 4 credit cards in my wallet. If this consolidates down to 1 then I don't care what else it does.

I'm curious what you need four credit cards for though. I can see maybe a personal one and a business one, but what are the others for?

I use them for different rewards. If I'm out grocery shopping, I'd use the card that gives me 5% back on grocery purchases. Similar with flight purchases with a different card.

Re: Coin: A step in the wrong direction

#112

Post by objclxt »

goshx wrote: post #57

So, this product is new. Nobody has used yet. However, it already got a bunch of bad reviews. Why try to put a not even born yet business down if you are not even competing against it in the first place? I'd be interested to see a business coming up from the article's author from the ideas he put in the article. But I guess writing a blog post is much easier than investing time and money to build up something new to…

> Why try to put a not even born yet business down if you are not even competing against it in the first place?

Because if we all just blindly praised every new business that came along and never gave them our true opinions we'd have a lot more bankruptcies than you have now (and that's saying something).

A large number of businesses fail because they have terrible ideas. If you think a business has a bad idea why shouldn't you be allowed to tell them that? Yes, there are businesses that succeed despite of everyone saying otherwise. Good for them - but they're the minority.

Re: Coin: A step in the wrong direction

#113

Post by livepreview »

danudey wrote: post #93
bradgessler wrote: post #88

Earlier quoted context omitted.

The product manages to create more headaches for the consumer I have 4 credit cards in my wallet. If this consolidates down to 1 then I don't care what else it does.

I'm curious what you need four credit cards for though. I can see maybe a personal one and a business one, but what are the others for?

If I max out the monthly rewards on one card, I can start building the rewards on the next.

Some people can't manage their spending with a credit card, some people can't believe that these companies are giving away all that free shit (even money in return) just by not paying cash. Depends on how they manage their finances.

Re: Coin: A step in the wrong direction

#114

Post by adam12 »

lttlrck wrote: post #101
bradgessler wrote: post #88

Earlier quoted context omitted.

The product manages to create more headaches for the consumer I have 4 credit cards in my wallet. If this consolidates down to 1 then I don't care what else it does.

Is making it easier to carry around and use multiple credit cards really a good thing?

No kidding. Credit card companies are going to love this device.

Re: Coin: A step in the wrong direction

#115

Post by aeturnum »

qq66 wrote: post #76
aeturnum wrote: post #61

I don't have a use for Coin - I have few cards, but the product reminds me of a quote often attributed to Henry Ford, "If I had asked people what they wanted, they would have said faster horses." While I think it's great for people who have many cards, and there are probably tons of customers like that, it doesn't seem that interesting from a tech point of view.

The tech point of view is the most interesting! They made a reprogrammable credit card that's the same thickness as a credit card. That's impressive tech whatever your opinion of the utility.

I agree their fab process is probably quite interesting!

Re: Coin: A step in the wrong direction

#116

Post by Schwolop »

livepreview wrote: post #113
danudey wrote: post #93

Earlier quoted context omitted.

I'm curious what you need four credit cards for though. I can see maybe a personal one and a business one, but what are the others for?

If I max out the monthly rewards on one card, I can start building the rewards on the next. Some people can't manage their spending with a credit card, some people can't believe that these companies are giving away all that free shit (even money in return) just by not paying cash. Depends on how they manage their finances.

That sounds like an enormous headache. I am very glad to sacrifice 5% of my $10 000/yr grocery bill to not have that headache.

$500/yr to not have to listen to anyone telling me how I can save a few more cents? Priceless - no wait, not even priceless, only $500/yr!

Re: Coin: A step in the wrong direction

#117

Post by lmm »

danudey wrote: post #93
bradgessler wrote: post #88

Earlier quoted context omitted.

The product manages to create more headaches for the consumer I have 4 credit cards in my wallet. If this consolidates down to 1 then I don't care what else it does.

I'm curious what you need four credit cards for though. I can see maybe a personal one and a business one, but what are the others for?

The AMEX, the one for places that don't take AMEX, the one with the high limit and the one for buying things in foreign currencies.

Re: Coin: A step in the wrong direction

#118

Post by dragonwriter »

gmjoe wrote: post #22

This article is ridiculous and doesn't even have anything to do with Coin. The first half isn't even criticizing Coin at all -- it's just saying the author wishing there were even better things. The author says "The problem with these technologies is vendor adoption. It’s not here yet, but it’s on the way." Yeah, it's been on the way for the past 10 years, but nothing's changed yet! I don't see RFID/NFC anywhere I sh…

> And the second half has nothing to do with Coin itself either, but is about Kickstarter charging in general.

Well, no, its about a company pretending to be doing normal product ordering but actually doing a do-it-yourself Kickstarter, and how they may fall afoul of various rules, like those of the credit cards they are accepting, in doing that.

Re: Coin: A step in the wrong direction

#119

Post by voltagex_ »

dennisz wrote: post #40

I agree with the article in that non-card based payments methods (Square) are the future, but we've seen again and again that moving towards the future takes steps (look at tablets - we had so many iterations on tablet computing before we got to the iPad, and who knows if that's even the end all be all). My point is that Coin is a much smaller stride for the typical consumer; only SV geeks (guilty) are as excited abo…

Australian banks are pretty excited about NFC payments, too.

https://www.commbank.com.au/business/merchant-services/maste...

(Version 1)

(Version 2 & 3)

https://www.commbank.com.au/personal/online-banking/commbank...

Interesting that Android is a first-class citizen here.

Re: Coin: A step in the wrong direction

#120

Post by mrab »

Schwolop wrote: post #116
livepreview wrote: post #113

Earlier quoted context omitted.

If I max out the monthly rewards on one card, I can start building the rewards on the next. Some people can't manage their spending with a credit card, some people can't believe that these companies are giving away all that free shit (even money in return) just by not paying cash. Depends on how they manage their finances.

That sounds like an enormous headache. I am very glad to sacrifice 5% of my $10 000/yr grocery bill to not have that headache. $500/yr to not have to listen to anyone telling me how I can save a few more cents? Priceless - no wait, not even priceless, only $500/yr!

Rewards are transparent. Spend some money and before you know it, you get a $100 check or gas cards or amazon credit etc. What a headache!!! I hate it when people give me money for free!
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