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I'm not protecting my phone, I'm protecting my data. It does a pretty good job of that. Don't think we're somehow deluded for thinking that the data is the more valuable part of the thing.

The most important distinction. Someone who wants your hardware doesn't care about the data, and will wipe the phone (although this is where iOS 7's Activation Lock comes in). And, if they want your data, they will figure that out, too. Touch ID is just a deterrent, same as a password or PIN, just to varying degrees.

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