I was thinking yesterday (having recently got my new contact less card) how good the system was and how we don't need bitcoin (for money transfers) with this great system and I have since come to realise how awful they are.
I watched a video of a hacker being able to get ahold of people's long number, name and expiry date using the contact less part of the cards which is enough to spend money from them. Since banks say "if an unexpected payment gets made you won't lose any money" it makes me wonder what is going to happen if someone manages to dot enough card readers around and steal large sums of money from people then the banks wouldn't be able to cope.
The 50 richest people together have just slightly less than all the money that exists. There are some foolish wealthy people out there too that might get scammed from this.
