While I applaud your effort to secure your data, this sound very dangerous to me. If somebody comes in to rob the store I would hand over the device. A friend of mine was recently in a situation where four armed guys came into a resturant and robbed everyone. He had a .45 put to his is head because he had trouble getting his phone off of his belt to give to the guy. I can imagine what would have happened if he had actually started typing on the thing.
I enabled the password on mine. I have it lock when it goes into the holster and after a few minutes of inactivity. True, every time I pull it out of the holster I have to key the password, but I have gotten used to it and can do it very quickly.
If I have to hand it over to a guy with a gun I'll hand it over. If he can guess my password he has a free device. If he fails to guess it after 10 tries the device wipes itself - kind of in the "suicide" fashion you mentioned.
Not sure of another way to do it.
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