Tech COIN Who is getting one? Only 2 days left to pre-order

anthrosphere

Hiya!
Apr 16, 2012
8,793
3,911
Nope, staying FARAWAY from it. Just read this article, it says that the device will only last 2 years, after that, you need to spend another $100 to keep using it. And also, if a thief gets a hold of that card, it's not COIN's problem.

But here are two things to think about. First, the device, by the company’s own admission deep on its website, will last only two years. The battery cannot be recharged, so if you find the device useful, you’ll need to shell out another $100 to keep using it. So think of it as a $50-a-year subscription, if that helps it go down easier.

Consider this as well: When you buy it, you are agreeing to terms of service that give you no protection. Should something go wrong — name your worst fear: the device broadcasts your credit card numbers, it is hacked, the site containing your encrypted numbers is hacked, the numbers are improperly encrypted, merchants refuse it — it’s not Coin’s problem. The company says it is confident it will work as promised. “We stand by our product,” a spokeswoman emailed.

But only in a very limited-liability kind of way. Consider this sentence in the agreement: “You are solely responsible for your own losses or losses incurred by Coin and others due to any unauthorized use of your account.” If the card is lost, stolen or damaged: Your problem.

....The company also says that if the service doesn’t work as promised, well, also your problem. It might give you $5 back, but it doesn’t have to

http://bits.blogs.nytimes.com/2013/12/10/be-careful-with-coin/?_r=0

Enjoy the product, it seems like a good idea, but if I'm going to spend $55+ on a electronic credit card storage thing, it better last me a long time and give me some sort of protection against theft. I'll pass.
 

Cheryl

Obsessed
O.G.
Jan 12, 2007
5,478
68
^^ Good points, I read those things, Im wondering if your credit card companies still step in for theft like they normally would.. The battery thing does stink about it.. I wonder how it will go once its released and people start using it.
 

ms-whitney

shopaholic
Sep 6, 2006
5,917
7
guys have always been b***hing about having a fat wallet because of bills but mainly because of cards and this is their answer for it,

I have no use because I only have a few cc, a few debit cards and added together (that I carry with me) I won't even fill that coin card's eight slot

plus some of my cards have the EMV chip, so overseas in coin it's useless
 

Charles

Sucks at budgeting
O.G.
Jan 5, 2007
15,613
4,117
A lot of places in my area use Square. I downloaded Square Wallet and as soon as I walk in, their retailer info comes up and I can pay without even taking my phone out. It's free, too.
There's also NFC payments via Google Wallet. Free too and doesn't require you to carry around a CC.
 
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