What is coin? | Bitcointalksearch.org

Authentic

member

Activity: 112

Merit: 10

1FRpXqj6kedknh5uNpdo8FS3U49XJPJJy1

Quote from: mprep on November 17, 2013, 06:58:57 AM

Quote from: b!z on November 17, 2013, 01:33:43 AM

Quote from: mprep on November 16, 2013, 11:20:59 AM

Why does it seem like a freaking manager for stolen CCs? I already imagine crooks, organizing them: stolen business CCs, stolen personal CCs... Undecided

https://onlycoin.com/support/faq/

Q. What steps does the Coin app take to prevent cards from being added fraudulently?
A. The Coin app requires that you take a picture of the front and back of the card, type in card details, and then swipe the card (using a reader we provide) to ensure the card’s encoded magnetic stripe data matches the card details provided. It is not possible to complete these steps unless you are in physical possession of a card. As an additional safeguard, the Coin app will only allow you to add cards you own.

Well, I meant actual physically stolen CCs. For example, a dude leaves his card unattended. The thief takes it, photographs the front, back, types in the details, and swipes it and quickly leaves before he arises too much attention. The card owner comes back and takes a card and happily loads it with even more cash. The only safeguard here is the PIN code which can be bypassed by most services.

I could be mistaken, but I saw no chip. So, I assume this would force the card to always work without chip+PIN (and I assume without name on the card, so also skip that layer of security).
If this is how this works... it is *VERY* insecure.

Wardrick

legendary

Activity: 1022

Merit: 1000

Quote from: BTC-e Help Me Please on November 17, 2013, 03:04:02 AM

^ Shut all u up in one fair swoop xD

If someone gets the card they'll still have access to all your CC's, and you'll have to go in and cancel every single one of them. And then replace them with new ones. Seems like the only thing preventing you from losing it is some signal that's sent to your phone, which half the time won't even be noticed until it's to late.

mprep

global moderator

Activity: 3794

Merit: 2612

In a world of peaches, don't ask for apple sauce

Quote from: b!z on November 17, 2013, 01:33:43 AM

Quote from: mprep on November 16, 2013, 11:20:59 AM

Why does it seem like a freaking manager for stolen CCs? I already imagine crooks, organizing them: stolen business CCs, stolen personal CCs... Undecided

https://onlycoin.com/support/faq/

Q. What steps does the Coin app take to prevent cards from being added fraudulently?
A. The Coin app requires that you take a picture of the front and back of the card, type in card details, and then swipe the card (using a reader we provide) to ensure the card’s encoded magnetic stripe data matches the card details provided. It is not possible to complete these steps unless you are in physical possession of a card. As an additional safeguard, the Coin app will only allow you to add cards you own.

Well, I meant actual physically stolen CCs. For example, a dude leaves his card unattended. The thief takes it, photographs the front, back, types in the details, and swipes it and quickly leaves before he arises too much attention. The card owner comes back and takes a card and happily loads it with even more cash. The only safeguard here is the PIN code which can be bypassed by most services.

BTC-e Help Me Please

newbie

Activity: 14

Merit: 0

^ Shut all u up in one fair swoop xD

b!z

legendary

Activity: 1582

Merit: 1010

Quote from: mprep on November 16, 2013, 11:20:59 AM

Why does it seem like a freaking manager for stolen CCs? I already imagine crooks, organizing them: stolen business CCs, stolen personal CCs... Undecided

https://onlycoin.com/support/faq/

Q. What steps does the Coin app take to prevent cards from being added fraudulently?
A. The Coin app requires that you take a picture of the front and back of the card, type in card details, and then swipe the card (using a reader we provide) to ensure the card’s encoded magnetic stripe data matches the card details provided. It is not possible to complete these steps unless you are in physical possession of a card. As an additional safeguard, the Coin app will only allow you to add cards you own.

Wardrick

legendary

Activity: 1022

Merit: 1000

I just watched this video on Youtube earlier. All it is just a virtual CC manager, and an easier way for you to increase your debt and get all your CC's stolen. I can't believe there isn't even a code on it to access it, anyone who comes across it basically has access to all of your CC's.

mprep

global moderator

Activity: 3794

Merit: 2612

In a world of peaches, don't ask for apple sauce

Why does it seem like a freaking manager for stolen CCs? I already imagine crooks, organizing them: stolen business CCs, stolen personal CCs... Undecided

pedrog

legendary

Activity: 2786

Merit: 1031