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Re:Meet Coin (YC W13), a startup creating a universal credit... by madsushi on Thursday November 14, 2013 @12:48PM (#6733873)
Easier than pen and paper? Or the camera on their phone?
Re:Meet Coin (YC W13), a startup creating a universal credit... by bnycum on Thursday November 14, 2013 @12:56PM (#6733948)
I assume it's easier in the sense that your waiter could add your card to his Coin, then immediately go buy a TV at the store with it. Not having to make a fake card or needing the address of the card holder to use it online.
Re:Meet Coin (YC W13), a startup creating a universal credit... by jerf on Thursday November 14, 2013 @01:19PM (#6734197)
As with some other people in cousins comments to your post, I think you may not realize that that attack is already perfectly feasible today. By "feasible" I mean real criminals already do this today, not merely that some academics hypothesize that it may be possible. It's all very off-the-shelf stuff. If you're worried about this attack, the solution isn't "don't use Coin someday in the future", it's "don't use anything with a magnetic strip, today".
Re:Meet Coin (YC W13), a startup creating a universal credit... by walshemj on Thursday November 14, 2013 @12:53PM (#6733922)
Its a bit hard to read the mag stripe by eye - unless your a mutant in which case call in Phil Coulson's team stat
Re:Meet Coin (YC W13), a startup creating a universal credit... by andrewfong on Thursday November 14, 2013 @12:58PM (#6733981)
The majority of credit cards still have actual numbers on them.
Re:Meet Coin (YC W13), a startup creating a universal credit... by q3k on Thursday November 14, 2013 @02:24PM (#6734809)
Except that the CVV from the magstripe is missing - wich means ypu can only use the printed CNP CVV, ie. only use the card data for internet transactions.