Coin is a very neat idea that will be hampered by many practical limitations.
How durable will it be? I routinely neglect to take my wallet out of my pocket, and end up putting it through the wash. Can Coin survive total immersion in water for an hour? What happens when my dog invariably decides to chew up my wallet? What happens when I drop my Coin in sand?
Moreover, the cost of a Coin becoming inoperable is far greater than that of a traditional card. Worst case scenario, my bank will send me a new card within a few days, which will cost nothing because the cost of manufacturing plastic cards is negligible. If my Coin breaks, I have to shell out another $100. Unless Coin is as indestructible as plastic cards (which is highly doubtful simply because the mechanics and circuitry in Coin create a level of complexity far greater than that of a piece of solid plastic), It will end up costing me more in the long run.
What about security? If I were to lose a plastic card, the maximum risk I'm exposed to is a single account being defrauded. If my Coin falls into the wrong hands, the bad guy has absolutely everything.
In a perfect world, Coin would be great. Unfortunately, the limitations of modern life and commerce make Coin impractical and even dangerous.
How durable will it be? I routinely neglect to take my wallet out of my pocket, and end up putting it through the wash. Can Coin survive total immersion in water for an hour? What happens when my dog invariably decides to chew up my wallet? What happens when I drop my Coin in sand?
Moreover, the cost of a Coin becoming inoperable is far greater than that of a traditional card. Worst case scenario, my bank will send me a new card within a few days, which will cost nothing because the cost of manufacturing plastic cards is negligible. If my Coin breaks, I have to shell out another $100. Unless Coin is as indestructible as plastic cards (which is highly doubtful simply because the mechanics and circuitry in Coin create a level of complexity far greater than that of a piece of solid plastic), It will end up costing me more in the long run.
What about security? If I were to lose a plastic card, the maximum risk I'm exposed to is a single account being defrauded. If my Coin falls into the wrong hands, the bad guy has absolutely everything.
In a perfect world, Coin would be great. Unfortunately, the limitations of modern life and commerce make Coin impractical and even dangerous.