Bitcoin News in Review: Apple Pay, Gmail Hacks, Braintree, and More

Journalist:
Neil Sardesai @@neilsardesai
September 14, 2014

Happy Sunday, and welcome back to another Bitcoin News in Review, where we feature some of the top stories of the week here on CryptoCoins News. This week, Apple launched its own mobile payments system, 5 million Gmail login credentials were leaked, PayPal announced Bitcoin integration through Braintree, and more. Check out our video and keep scrolling for this week’s Bitcoin News in Review.

[divider]CCN[/divider]

Apple Pay

Along with the iPhone 6 and Apple Watch, Apple launched its own mobile payments solution called Apple Pay last Tuesday. Apple Pay relies on NFC, Touch ID, and other technologies to enable fast payments without a physical wallet. Of course, many Bitcoiners are wondering if Apple Pay poses a potential threat to Bitcoin. Some have heavily criticised Apple Pay for taking a centralised approach to payments. However, Apple plans on releasing a developer API for Apple Pay, meaning developers could create Bitcoin apps that take advantage of Apple Pay’s features like NFC and Touch ID. Overall, it seems like the longterm impact on Bitcoin is unclear, and how successful Apple Pay becomes remains to be seen.

Millions of Gmail Credentials Leaked

Following Apple’s Celebgate, looks like Google’s had some recent PR nightmares too regarding security. 5 million Gmail users had their login credentials leaked last Thursday, with 60% of the leaked accounts estimated to be active. Gmail users can check if their accounts were part of the leak by visiting IsLeaked.com. Google reports that their own servers were not compromised, and that the stolen credentials were likely taken from some other service. However, now would be a good time to enable 2-factor authentication. With 2FA, even if someone somehow finds out your login password, he/she still won’t be able to access your account without physical access to your mobile phone. Many Bitcoin users have their Gmail accounts connected to services like Coinbase and Blockchain, so it’s always a good idea to follow the best security practices.

PayPal Embraces Bitcoin?

PayPal is increasingly moving towards Bitcoin integration. Earlier this week, PayPal announced that BrainTree (a payments platform owned by PayPal) has partnered with Coinbase to enable “a more seamless and secure payment experience”.

“While we’re focused on giving people more seamless buying experiences, we’re also fierce advocates of giving merchants, and in turn their customers, flexibility and the freedom of choice. That’s why today, we also announced that we’ll enable our customers to easily accept bitcoin in the coming months via a partnership with Coinbase – a trusted, high quality bitcoin payment processor with 1.6M consumer wallets and 36,000 merchants globally.”

This comes as a surprising move from a company that has historically been considered a direct competitor and opponent of Bitcoin. PayPal has a lot of influence in the digital payments sector. Perhaps PayPal is experimenting with Bitcoin in some of its smaller services before implementing it in the main service?

Satoshi Nakamoto’s Email Hacked

It’s hard to believe, but Bitcoin creator Satoshi Nakamoto’s gmx.com email address was recently hacked. However, the hacker(s) did not gain access to Nakamoto’s large bitcoin reserves. Instead, he/she/they made a few seemingly empty threats and trolled the Bitcoin project on SourceForge. All in all, it doesn’t seem like too much harm was done, but there certainly have been quite a few incidences of compromised security these past several days.

That’s all we have for this week. If you’d like to keep up with the latest in cryptocurrency news, feel free to follow us on Facebook and Twitter.

Apple Pay image from Apple. Other images credited in their respective articles.

Last modified (UTC): September 15, 2014 08:58

Tags: apple pay
Neil Sardesai @@neilsardesai

I enjoy keeping up with the latest stuff in science and technology and have been following Bitcoin for a few years now. I also occasionally post cool stuff on twitter.