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LordMeowMeow
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October 12, 2014, 04:43:35 PM |
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Apple Pay = Apple only. What Bitcoin can learn from it though is to make itself more user-friendly.
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santaClause
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October 12, 2014, 06:03:09 PM |
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Of course its not a threat. Apple pay it still just using fiat currency. So a bit like most of the Bitcoin payment services available where merchants take Bitcoin payment and sell it for fiat immediately? Still going to have to pay bank and transaction fees same as using credit cards. Its like comparing apples to oranges.
So a bit like most of the Bitcoin payment services available where merchants have to pay transaction fees to the processor? The effective fee that consumers have to pay to use apple pay (credit cards) is much higher then the effective fee that consumers pay when sending a bitcoin TX. There is also still the chargeback risk to merchants essentially making a apple pay transaction be unconfirmed for months The fact that apple pay uses fiat does not matter |
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HugoTheSpider
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Activity: 38
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October 12, 2014, 06:10:32 PM |
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No. Apple pay doesn't make bitcoin less usable.
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iwillwin
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October 12, 2014, 06:18:26 PM |
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I don't think that Apple pay is a threat to Bitcoin right now. But who knows...........in future it might be possible.
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evok3d
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The Protocol for the Audience Economy
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October 12, 2014, 06:22:50 PM |
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LOL NO! Lets be serious now:
- Apple Pay is a payment gateway that has authorized ITSELF to being the secure point between you and the merchant (-1) - our problem is with nsa contract that are with apple, google etc not the fish and store shop down the road. VS. Bitcoin is like the entire internet, it is not a payment gateway.
- Apple Pay removes personal security by passing your fingerprints to their servers for every transaction and require your prints for EVER transaction. VS. Bitcoin never has and never will ask for any personal information, just your private key. The rest are made by the developers that ask for these details and you should stay away from them.
- Apple Pay has the same security issues as iCloud and iTunes (as they were too hacked - celebrity photos situation) VS. Bitcoin has had 0% security breaches since its launch in 2009.
- Bitcoin offers side-chain technologies and a LOT more services that are yet to come which are in the orders of magnitude compared to what Apple Pay is offering.
<3 Bitcoin for life
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jbreher
Legendary
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lose: unfind ... loose: untight
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October 12, 2014, 07:01:04 PM |
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- Apple Pay removes personal security by passing your fingerprints to their servers for every transaction and require your prints for EVER transaction.
Just no. Apple Pay does not remove personal security. It exposes the user more than does Bitcoin, this is true. But Apple Pay is not designed as an improvement over, nor competition for,Bitcoin. It is an improvement over legacy credit and debit card processes. In this regard, it has the potential to be a solid increase in security over legacy. I realize, and agree, that Apple likely has a few more lessons to learn before their security is what it need be. But the concepts involved are valid. They have a framework that -- with proper implementation -- can make issues such as the recent Target hack a thing of the past. This topic seems to have brought out an epidemic of incorrect assertions by people making false assumptions of how Apple Pay operates. I wish you all would read before spewing. That thing about sending your fingerprint for every transaction? That ain't the way it works. |
Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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evok3d
Sr. Member
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Activity: 534
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The Protocol for the Audience Economy
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October 12, 2014, 07:54:41 PM |
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can make issues such as the recent Target hack a thing of the past. So we should trust Apple a company that has no business in the financial sector to hold our personal payment information and monitor all the payments made on Apple Pay so they can prevent a hack that is caused by a flaw in the system to begin with? That thing about sending your fingerprint for every transaction? That ain't the way it works.  I am not sure what to make of it, but if people keep falling for these idiotic applications rather than real solutions that for example Bitcoin offers then we are going to be in a lot of trouble. I can see the benefits of Apple Pay and such but to me the cost and consequence is not worthy of the benefit. We can do without. This is based on what has been occurring in terms of personal privacy. Apple Pay is merely a payment gateway as i said and I agree that it cannot be compared to Bitcoin at all as it attempts to solve a completely different issue. Where as Bitcoin offers to solve that and many more issues. Cheers |
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Melbustus
Legendary
Offline
Activity: 1722
Merit: 1003
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October 12, 2014, 08:03:51 PM |
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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. |
Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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Sumerian
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October 12, 2014, 08:06:40 PM |
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Nah, bitcoin is not only for 'paying' things, apple pay is.
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Prompyboo
Sr. Member
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World's First Crowd Owned Cryptocurrency Exchange
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October 12, 2014, 08:20:30 PM |
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I would expect Apple pay to integrate Bitcoin. It is just a gateway system and not a currency in itself so it is not really a threat to Bitcoin, but it can help it.
yup...it can only help |
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mnmShadyBTC
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October 12, 2014, 08:53:27 PM |
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can make issues such as the recent Target hack a thing of the past. So we should trust Apple a company that has no business in the financial sector to hold our personal payment information and monitor all the payments made on Apple Pay so they can prevent a hack that is caused by a flaw in the system to begin with? That thing about sending your fingerprint for every transaction? That ain't the way it works. I am not sure what to make of it, but if people keep falling for these idiotic applications rather than real solutions that for example Bitcoin offers then we are going to be in a lot of trouble. I can see the benefits of Apple Pay and such but to me the cost and consequence is not worthy of the benefit. We can do without. This is based on what has been occurring in terms of personal privacy. Apple Pay is merely a payment gateway as i said and I agree that it cannot be compared to Bitcoin at all as it attempts to solve a completely different issue. Where as Bitcoin offers to solve that and many more issues. Cheers Can we trust apple with this kind of sensitive information? Probably, although there is a security risk as they would make an attractive target to hackers. Does apple pay give any advantage over credit cards? Yes, but a very small one. The advantage will be that banks will have less costs associated with breaches similar to target and home depot, which I do not think is very large. It does however open up the possibility of additional fraud as people could steal a iPhone, then use the passcode (not a fingerprint) to change the fingerprints that authorize a transaction. Does apple pay have any advantage over Bitcoin? No. |
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colinistheman
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October 12, 2014, 10:18:30 PM |
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This is why ApplePay is not a threat to Bitcoin. ApplePay does not solve the core problem with government issued currency:
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Inedible
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October 12, 2014, 10:27:18 PM |
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If only there were a higher resolution time series. Then we could see the Bitcoin cart vary wildly between booms and busts. |
If this post was useful, interesting or entertaining, then you've misunderstood.
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Diabolicus
Member
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October 13, 2014, 11:21:57 AM |
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Hmmm, Apple Pay ....!  |
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boumalo
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October 13, 2014, 11:35:15 AM |
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Hmmm, Apple Pay ....! Yummy  This is why ApplePay is not a threat to Bitcoin. ApplePay does not solve the core problem with government issued currency: Exactly it still uses the centralised currency which is printed at will |
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H4M24
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October 13, 2014, 12:29:55 PM |
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apple pay has no change against Bitcoin
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MF Doom
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October 13, 2014, 12:34:17 PM |
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Its a threat because Apple already has millions of loyal minions who are obsessed with their products. If they can get these people to start using apple Pay right now they wont want to switch over to using bitcoins.
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angeloanggam
Sr. Member
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Ace of ♠♠♠♠
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October 13, 2014, 12:35:56 PM |
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I think not.. apple pay has no change against Bitcoin
And why would you say that? In a company as stable as Apple, nothing is impossible. |
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Daniel91
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October 13, 2014, 12:57:03 PM |
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If only there were a higher resolution time series. Then we could see the Bitcoin cart vary wildly between booms and busts. LOL very interesting comparison but this is not true any more. Value of bitcoin has fallen heavily since the beginning of the year and still we can't see the end of this trend. Bitcoin still didn't become mainstream, and its value is very unstable. So, yes, Apple pay can be a threat to Bitcoin. |
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redsn0w
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#Free market
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October 13, 2014, 01:00:00 PM |
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LOL very interesting comparison but this is not true any more.
Value of bitcoin has fallen heavily since the beginning of the year and still we can't see the end of this trend.
Bitcoin still didn't become mainstream, and its value is very unstable.
So, yes, Apple pay can be a threat to Bitcoin.
In the beggining the value of bitcoin was 0.10 -0.30 $ , so yes : bitcoin is a payment system/coin deflationary ( that's sure  ). |
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