Topic: Apple pay will make bitcoin (even more) useless. Let's deal with it. - page 6. (Read 7886 times)

It's not a question of "payment systems", it's a question of currency integrity.

Applepay is just another way of paying by fiat - an unlimited instamine scam coin that the Fed can't stop mining at ultra low difficulty in order to hose down the US Treasury Bond interest rate so the country doesn't go bust in 10 seconds. It also requires expensive, slow and antiquated counterparties - not only to process the payment but to actually hold the balance in the first place.

Bitcoin, on the other hand, is a limited supply, rapid transit, counterparty-free electronic commodity that is about a million times more suited to trading on networks than fiat is - whatever gimmicks Apple come up with to try to hide that fact.

ai was obviously talking of next years when new generation smartphone will have nfc, apple pay or Google wallets, more and more people will have nfc in their smartphones, and first of all, nfc payments won't be limited to USA only.
I am not talking of present day situation but close future very predictable. It was so obvious only a stupid  or a troll could not...

Bitcoin is quite the same in this regard, aside from the fact that merchants need even less infrastructure to accept Bitcoin and crypto.  Over time you will see more and more merchants accept Bitcoin because there is such a small barrier to entry for merchants in this market. The infrastructure and human time it takes to keep credit card and payment companies afloat will eventually be their downfall. (aka overhead)


Are you so willfully ignorant that you think people trust banks?  Read this survey: http://www.businesswire.com/news/home/20130118005809/en/Americans-Don%E2%80%99t-Trust-Banks-Surveys-Find

A high percentage of younger generations are also moving away from high overhead banking/fiat systems. (aka the unbanked) Currently the baby boomers mainly keep the old system afloat. Wait 20 years.

 
You mean to say government steals my money to pay for the ignorant.

 
Last time I checked this applied to fiat too. (unless you go through a merchant like paypal) Bitcoin will have insurance merchants one day too.


SAME

 
This is extremely easy to prevent, Bitcoin payment processors will prevent this from happening as well.
 


The heavy volatility is only the process of Bitcoin moving from a commodity/collectable to a currency. Fiats go bust alot more than you think... http://georgewashington2.blogspot.com/2011/08/average-life-expectancy-for-fiat.
http://dailyreckoning.com/fiat-currency/




Because it works now does not mean it will work tomorrow, crime does pay!


Many crypto currency apps already use nfc, I just heard recently of an ATM that will accept payments through nfc.



I have not said anything that should offend you, maybe your mental contradictions are working on you emotionally?



Its too hard to read this.

Apple pay will provide a more seamless way for Bitcoin to be used in the near future.  Getting the consumer public away from *the mentality of using* tangible payment tools was a huge obstacle that Bitcoin no longer needs to surmount.

-B-

Oh really? Try sending 1 billion dollars across the globe with PayPal and see how far you get, even 1 million, or heck try 25K. Ever since the scary terrists popped up the main banking system (the US) has made reporting transfers over 10K (even sometimes 1K) mandatory and possibly suspicious - unless of course you're a bank aiding terrorists and drug cartels.

Second there are billions of people in the world with no access to any banking services. With PayPal once you send the money the recipient still can't spend it, until they find a way to convert a PayPal balance into their local currency, usually virtually impossible. With Bitcoin all someone needs is a free Bitcoin wallet. There are people all over the world willing to trade bitcoins for local currencies, and growing all the time - as well as shops that accept bitcoins themselves as payment.


Bitcoin wan't built for Impros88 and the way only you use money; it was built for everyone in the world, and people all have different needs. People sending money from one country home to another country, called remittances, is extremely popular. It's a half-trillion dollar industry. Next, perhaps a reason people today don't often send money to people around the world is because it was impossible before. People didn't usually make cross-country trips or go over 70 MPH before cars were invented either. Does that mean cars were not a good idea since nobody used them in the 1700s?


I'm not even going to respond to this - there are plenty other discussions here and elsewhere on that - except to say you're arguing higher prices at the grocery store etc. is not seen as negative by ordinary people.

Bitcoin's volatility is decreasing the longer it exists, but even so anyone who has dollar cost averaged into Bitcoin since 2010 has probably experienced increased, not decreased purchasing power overall (since Bitcoin is mostly up) .

Apple and Oranges (bitcoin) comparison
PayPal with NFC as o,eBay in this thread called it is a great descriptin

"i told you"

  


when you have some time, start here and learn more:

http://www.youtube.com/watch?v=O0oDDIy0P2s

Your post shows either a highly ignorant or a very deceitful content. It's either "you're stupid" or "you're evil". People don't assume that people of this stupidity would post on this highly technical forum, so they accuse you of being evil on purpose: trolling.

I will NEVER use Apple Pay. By principle and choice. NOBODY in my country will use Apple Pay. By technical and legal limitation, it's IMPOSSIBLE. To use Apple Pay, you need to be a privileged white hipster living in the USA, mainly. Everyone that's not casually rich or living there, can't use Apple Pay and will use other means. I can "use" Google Wallet, in the sense that I can shop on Google owned sites, but not as everyone else in the USA can.

Remember this, the population of eligible people is only 4% (USA versus world http://en.wikipedia.org/wiki/Demographics_of_the_world) and the probable number of actual users of this technology by next year (iPhone 6 estimates in the USA that can use this technology) is less than 0.03% of the world population.

Now you will understand that everyone else can and will use Bitcoin and your post is ignorant. If you continue to insist that Apple Pay (with 0.03% reach) will take over Bitcoin all over the world, you are a troll.

what makes someone a troll? your own arbitrary idea? OK, you are actually a troll on my opinion.  This thing of "troll" is getting a bit to far. I see many people saying their opinion being labelled as Trolls for that.

paypal and google can decide to freeze your account along with all the money in it, now what do you do?



inflation is not a negative thing? do you like paying more for products?



the world was using a single money called gold for the last 5000 years, the paper money we currently have is a fraud that will end any year now.

the reason a single paper currency doesn't work in Europe is the same reason it doesn't work anywhere else,
you have a central authority that prints money and invests it how it sees fit, that's called central planning and it fails because the central authority doesn't have the information to know what (and how much) products people need and want.

this causes a misallocation of production resources so that not enough of the things people want get produced and instead a bunch of useless stuff the central planners thought are good for the economy get produced.

the only way to fix this is by having honest unprintable money such as gold and bitcoin which prevents the government and central bank of misallocating production resources (at least by money printing).

plonk!

Of course you need permission. If PayPal, Google or whoever provides the service doesn't like you or the person you're sending to, then tough luck. Case in point: Visa/Mastercard blocking donations to Wikileaks. Or PayPal shutting down accounts of merchants based on their seemingly arbitrary rules.

It happens more and more. Most of the stuff we use is made in China, so more and more people are buying things directly from the source (through websites such as DealExtreme). Cross-Atlantic purchases (EU to US or vice versa) are also quite common, especially for specialty products. Then there are tons of immigrant workers from third world countries all over the world that send part of their income back to their family in the country of origin. Companies like Western Union make a fortune of these people that make up the poorest part of civilization.

Just because you may not use cross-border transactions much, doesn't mean that there's not a huge number of people that do.

You're confusing inflation with exchange rate fluctuations. The two are completely different and have different economical implications. Please read up on the basics. In addition, the theory that a small amount of inflation is healthy is only valid in the current debt-centric monetary system.

All those payment methods are awfully limited (and expensive) compared to bitcoin, not to mention that you have no control over your funds.

Apple pay might bring some features which are "clever" but as usual it's way overhyped. I also don't think that it's direct competition for crypto currencies.

Sorry if I just fed a troll, I don't follow this forum closely.

Paypal , google wallet , webmoney are services
Bitcoin is a currency.

Paypal can use bitcoins , google wallet can use bitcoins.

It's not applepay or paypal vs bitcoin is fiat money vs bitcoin.

OP you smokin crack again?

Bank cards protect the buyer, seller is still at risk of charge backs. 

OP, you are missing the point of Bitcoin.

The reason people are so excited about Bitcoin is not that it will make paying for things easy. Paying for things easily has been around a long time. I was one of the people that started transitioning to cashless transactions, long before bitcoin. I'd pay for gas, groceries, restaurants etc., all using my debit or credit cards.

I even had a foolproof system, which I set up for my mom too after she was the victim of card fraud: create a small balance, transaction only checking account. For example set up a bank account with about $200-400. Never put any more money in. Use a separate checking account for your main account, and use the small checking account for day-to-day purchases. That way, even if your card is lost/stolen/fraud victimized, you can never lose more than the small balance.

This, to me, was ultimate convenience - even faster than ApplePay etc., because there is no fumbling with passwords, buttons, power or anything electronic. You just pull out your thin, lightweight plastic card and swipe it... bam, transaction approved. Done.

After I heard about Bitcoin and understood it I was BLOWN away at the possibilities and implications for it, and this had nothing to do with convenient transactions (I already had that). The first thing I recognized as valuable was the limited supply of 21M. That's in stark contrast to almost every other modern day money system which is printed - usually without transparency - by central banks, resulting in inflation and lost purchasing power. That feature alone is huge. Imagine if everyone in the world was stuck to the ground by gravity, but you had the ability to float. How much would that make you stand out? That's similar to the contrast between Bitcoin versus the rest of the world's money systems.

The second gigantic feature of Bitcoin is the ability to move value from one place to anywhere in the world, without asking permission, and as a bonus, without even paying much in fees, and in fact zero fees being possible. Anyone who can't see how incredibly powerful a feature that is simply doesn't have a good appreciation of the limits of financial systems the world has had for all of its history.

ApplePay, Google Wallet, debit cards, or whatever else you want to dream of for convenient payments is all built upon the existing old financial system. That's why Bitcoin remains quite relevant.