JCSB
Ex GT Owner
Fubar
Totally ****** Up
Electronic theft would be my biggest concern. Somebody with a scanner who could just walk past you and get information. I like the concept of carrying less garbage tho. You could reduce your payload to a money clip and an ID.
Mullet
FORD GT OWNER
I don't think we'll be able to avoid "Nervous Technology" for much longer. Here in CA you can now take a photo of a check and email deposit it....
Wallets have worked for us for centuries w/o suddenly breaking down or quitting on us. They don't need batteries or recharging (well, except for their contents). And, if we fall in a lake (or whatever body of water) - so what? AND we KNOW when they or their contents are stolen because they're physically MISSING.
So, 'nutz' to this electronic gizmo.
So, 'nutz' to this electronic gizmo.
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BlackICE
GT Owner
1984!
Minority Report!
Just think about all the tracking and marketing information that can be gathered on you by having your phone do "everything".
You can run, but you can't hide!
Minority Report!
Just think about all the tracking and marketing information that can be gathered on you by having your phone do "everything".
You can run, but you can't hide!
RV King
GT Owner
This shouldn't even be news. South Korea has been doing this for years. It was only a matter of time before it got everywhere else.
BlackICE
GT Owner
PL510*Jeff
Well-known member
However, most Koreans, if not all, only keep enough money in their "E accounts" or bank accounts to pay their bills,etc.
As most all such accounts are subject to being taxed by the goverment.
There's a truly amazing "undeground /back room" banking system there.
I went in the rear of a local clothes laundry to do a USD to Won exchange with my Korean sister-in-law. There were many, many Bushell baskets full of bills, and the exchange rate was more than 15% better than the official rate at the local Bank or Amex office across the street. This was in the late "80's.
BlackICE
GT Owner
It is rumored that Sam will be taking orders for gold using his iphone and and fulfilling them out of the trunk of his new BMW.
I don't see why it would be a bad thing. As long as, as Jeff mentioned, you only keep enough money in the linked account to pay for small purchases, it should act as a convenience. You're a pretty big fool if you keep all your sheckles in a checking account and roll around with your debit card and some checks. :lol: On the other hand, if I drop my wallet with my Amex in it, there's a high probability that someone could charge $30k in a few hours and Amex wouldn't flag it, as long as they weren't being stupid. Positives and negatives.
BlackICE
GT Owner
Can't get into all of it, or it may get into the P word. But the more you do with electronic devices the more that is known about you! Using a phone with GPS to do transaction links a time, place and person to the transaction. The information is used for sales and marketing purposes today, but in the future can be used for much more. A lot of this is done today with credit cards and store discount cards but much more can be done in the future. Just think of a world where we all must use a chip to do any monetary transaction and where an itemized list of any and all purchases are available to whomever will pay for it, or by law to the government.
Today those with car transponders are tracked by the highway system, so where your car is on the road at a given time is stored on some disk drive. That information can in the future be used to give traffic tickets or in accident litigation. Much better than traffic cams and the system is already in place. Just mandate all cars must have a RFID chip and the system is ready to go.
My concerns are not the safety of the transaction, but more one of privacy.