Is Apple Pay a threat to Bitcoin?

[crunchynut]

it's not a threat at all. east-european scammers will stay loyal to bitcoin because bitcoin is more than only an inconvenient payment method and "heard i can get rich here" scheme.

[ytr8]

The critics on net say that Apple Pay will Beat the BTC. will it ?

[wangjin098]

 Yes, but  the Apple Pay won't make BTC disappear, because of the anonymity with bitcoin!

so you can keep your BTC ,and don't warry!

[RenegadeMind]

No.

[Aemon]

Aren't these 2 completely different things?  Isn't this basically saying like Best buy is a threat to Gander Mountain?

Or the grocery store is a threat to the gas station!

[Inedible]

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 ).

The volume of Bitocoin has inflated.

[jbreher]

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?

I'm not advocating that 'we' do anything other than be honest about what Apple Pay is. When comparing Bitcoin with Apple Pay, let us be accurate about what Apple Pay actually _is_. Creating an inaccurate strawman, and falsely attributing its properties to 'Apple Pay' is counterproductive.

As I said, I think Apple will commit several security missteps on the way to a mature Apple Pay. However, it has the potential to be a significant security improvement over the current credit/debit payment system.

This is not a statement of the relative value of Apple Pay vs. Bitcoin. After all, I don't think Bitcoin yet registers as important in the minds of Apple's management. Yet. This is a statement of the relative value of Apple Pay vs. the existing legacy system.

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.

In a world where credit and debit cards will inarguably continue to exist, and have widespread use, for the foreseeable future, Apple Pay is far from an 'idiotic application'. Sure, it ain't Bitcoin. Get over it. Don't let the perfect be the enemy of the good.

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.

As far as the masses are concerned, Apple Pay is most certainly worthwhile.

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.

Agreed in full. I thought I had already been clear that I believe that Bitcoin is far and away a more important 'thing' than is Apple Pay.

[jbreher]

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.

I don't think this scenario is possible. I may be wrong. Now _I_ need to study more on Apple Pay.

[santaClause]

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.

I don't think this scenario is possible. I may be wrong. Now _I_ need to study more on Apple Pay.

I can say that the process for changing the finger prints is to go to "Touch ID & Passcode" in settings then enter your 4 digit PIN (there is not even an option to enter your fingerprint) then there is an option to delete a fingerprint and add an additional fingerprint without any additional authentication. Both before and after a fingerprint was added the selection to use touch ID for "iTunes & App store" remained selected.

Apple pay has not officially launched yet, however based on the above I would assume that this attack would be possible.

[Aemon]

Apple pay has not officially launched yet, however based on the above I would assume that this attack would be possible.

How has Apple pay not launched yet?  It has launched and had a lot of bugs, but this topic is silly anyway because they are completely different things and not related to each other.

[jbreher]

Warning - false quote attribution ahead

Apple pay has not officially launched yet, however based on the above I would assume that this attack would be possible.

How has Apple pay not launched yet?  It has launched and had a lot of bugs, but this topic is silly anyway because they are completely different things and not related to each other.

Check the date of the post which you have quoted, misattributing it to me. On that date, Apple Pay had -not- yet launched.

I agree that Bitcoin and Apple Pay are different solutions to different problems, and therefore have little to do with each other. Which is why I stated as much in my initial post on this thread.

Presumptuous, little, you are. Too, inaccurate - hmmm?

[Aemon]

Check the date of the post which you have quoted, misattributing it to me. On that date, Apple Pay had -not- yet launched.

I agree that Bitcoin and Apple Pay are different solutions to different problems, and therefore have little to do with each other. Which is why I stated as much in my initial post on this thread.

Presumptuous, little, you are. Too, inaccurate - hmmm?

I did not see the date, I just got this as an updated topic and thought I had read everything to the recent date.  I wasn't trying to be mean, I was just more curious as to why you thought Apple Pay hadn't launched.

No need to insult me at the end of your post either, my mistake on the date.

[jbreher]

No need to insult me at the end of your post either, my mistake on the date.

It was not meant to be insulting. Just calling it as I see it. By putting someone else's words in my mouth, you were being inaccurate. By taking issue with a statement, but not first verifying your assumptions, you were being presumptuous. Sorry to have hurt your feelings.

[Aemon]

It was not meant to be insulting. Just calling it as I see it. By putting someone else's words in my mouth, you were being inaccurate. By taking issue with a statement, but not first verifying your assumptions, you were being presumptuous. Sorry to have hurt your feelings.

You did not hurt my feelings, and yes, your post was definitely meant to be insulting.  You don't call someone little with no intention of insulting them.

I didn't mean to actually quote you and since then I have fixed it.  I wasn't taking any issue with any statement, I was simply asking a question.  You can't ask a question and be presumptuous.

[L.Detweiler]

Applepay has already had over 1,000 doublespends on cardholders accounts!

https://bitcointalk.org/index.php?topic=833950.msg9319856#msg9319856

[bitnanigans]

ApplePay is only limited to the US, while there are lots of people in the rest of the world. So no, it's not a threat at all in the grand scheme of things.

[bigbadwolf111]

Anyone here used apple pay already? What is your feedback?

[barwizi]

Yes. To average user, Apple Pay and crypto is same thing. Except Apple Pay is by Apple so it must be innovative, right?

Seriously dudes, expecting Apple consumers to know what they're talking about is a pipe dream.

Nope, it didn't even make it into the pipe

[pitham1]

ApplePay is only limited to the US, while there are lots of people in the rest of the world. So no, it's not a threat at all in the grand scheme of things.

There shouldn't be any problems in extending Applepay to other countries. After all, it is just an extension of the credit card payment system.

[huoiuu]

no  they don't accept the Bintcoin