Why Apple Pay Is a Threat to Bitcoin | Coindesk | #bitcoin #applepay

[jbreher]

Second of all, Apple Pay is NOT anonymous.

It is not anonymous in the same sense that Bitcoin is, this is true. However, it does have a degree of anonymity. Your personal details are never exposed to the merchant. This is something of which several posters upthread seem to be ignorant. In this sense, Apple Pay is much more than simply replacing your plastic with your phone.

While nothing like the benefits of Bitcoin, Apple Pay still is a major improvement over current credit and debit card processes.

When you use a credit card, your name as it appears on your credit card will generally be displayed on the credit card receipt. I don't see any real reason why this would be any different with apple pay.

If you don't see how Apple Pay does not expose your identity to the merchant, and especially if you think that it provides your name and number to the merchant, then it just exposes you as being completely ignorant to even the most basic aspects of Apple Pay.

Reed moar. Post after.

[Melbustus]

apple pay deals in fiat.  so there's that.

^ This.

Bitcoin is not about making retail payments easier. It's about making global control and transfer of wealth/value immune from 3rd party intervention.

There's been way too much excitement about bitcoin as a retail payments mechanism lately. I agree that's a nice thing, but it's not the core reason why bitcoin is interesting and powerful.

[jabo38]

apple pay still relies on US dollars and credit card company. all that has changed is that instead of taking out a plastic card from your pocket, your taking out a phone.

bitcoin is totally different. it is not reliant on US dollars or credit card companies. it is not reliant on banks it is not even reliant on apple lying about its secrity measures to protect consumers data. bitcoin is bigger than apple pay. and those thinking apple is bigger, either do not understand bitcoin, you they are too attached to fiat and only want bitcoin to expand for fiat wealth reasons(pump and dump).

to me apple is just a gimmick, simply a way for credit card companies to not have to post out bank statements or send people replacement plastic cards and pin numbers through the mail. nothing more.

This is correct. All that apple pay does is change the UI (actually the user experience) of paying with a credit card.

I would argue that apple pay will actually make consumers more comfortable using bitcoin as they will be comfortable using their smart phone to pay for things with a face to face transaction.

Bitcoin provides people with a much cheaper alternative to paying for things

It's not a small change to the UI. ApplePay makes paying with your credit card a lot faster and easier. In addition it makes it A LOT safer and protects one's privacy more too.  And it's a little lighter in the wallet, but definitely less stressful wondering if you have your card, if it's lost, or someone stole it. It's pretty much equal to or better than a plastic card in everyway from a consumer perspective.

[2dogs]

Please, Apple Pay is no way a threat to Bitcoin.

Apple Pay is credit card, fiat based; this is like comparing apples to oranges (pun intended )

If anything, Apple Pay will get the masses used to the idea of paying with a smartphone.

But no, it is not revolutionary, and cements their position in bed with the credit card companies.

And we know where closed systems usually end up.

[jsgayo]

apple pay and BTC are not the same, why put them against each other?