Topic: Death of Bitcoins made by Apple? (Read 4930 times)

I think bitcoin is very strong, never dead in all time...because the community bitcoin very large and increase daily

Okay let us make some things clear.

Bitcoin is not great because it is fast, it's great because it's fast, you don't need anything to buy it but a wallet address in your head. It works for a number of other reasons we all no doubt no by this stage. So why forget previous argument pro bitcoin.

Even if the inventor turned out to keep the 1 million bitcoins to himself and even if this was set up as some sort of pyramid scheme, bitcoin still as a technology offers serious advantage. The main one, most people don't realise is transparency. Sure it has some anonymity, and a further bonus, if needed with effort, you can track someone back to a source (with great effort), it provides a safe and secure system, bound by mathematics, in the same way we don't have two people with the same finger print, we won't have two people randomly generate wallets. And if you are smart to spread over wallets, the most someone will lose to chance will be nothing to worry about. If you are smart that is, unlike mt.gox.

If you are thinking of buying altcoins and look at some of these third parties, like nxtcoin, remember the reason bitcoin works well is because you don't have third parties and high fees/spreads.

Back to transparency. In economics, Keynes and such talk about measuring some funky equations some of you won't know, but basically, we are measuring money supply, velocity, demand, spend rate and so on. Another way to rant on, is to talk about a computer model for the economic system. In simple terms, most financial theory is maths, not social science as we are led to believe (teleb points this out quite to the point). It is simply maths, and a computer can do maths. One major problem is that you can't be sure exactly how much cash (in all respects - M0,M1, M2,M3, M4... ) is currently in the economy. You can't measure it as well. If you could most markets would offer less profit incentive as it would be widely easy to predict and measure. Bitcoin, is fully transparent and will change the world if we let it. Why do we need to change the world. It is corrupt. The fact that it is corrupt probably means we can't change it.

Apple... not to worry. How is apple's security these days. Plus it isn't the same. No more needed to be said. This is what barclays tried with contact-less card payments. Didn't adopt so well. Bitcoin, you don't need anything, and people like that.

Final note... F**k Apple. No one gives a shit. It is the same shit. Even the video that came out, telling you a joke about how it's the same shit, then going on to sell you the same shit, while trying to make it not look like the same shit due to the fact that they managed to pull a crack and the start of the advert, that it is in fact... The SAME...F**KiING... SHIT





 

I would disagree. The loan term, main uses of bitcoin will likely be the same kind of purchases that can be made with apple pay. Meaning purchases in retain environments similar to where credit cards are used today. Bitcoin would also be used in a very similar fashion that apple pay is to be used

Hey, it's short and clean sounding, it's a classic and fun slang term for money, and it starts with a "b". Also the domain wasn't taken.

But.. it's still in the ever falling Fiat currencies.

No OP, it doesnt make sense different beasts on there.

I agree with that.

There is always the same. When someone try to FUD somethink, but community is strong there is always opposite effect. Bitcoin is stronger and stronger every day.

Although some people may view them as "competitors" at first glance, ApplePay and Bitcoin are actually not competing against each other at all. Once you realize that ApplePay is a technical implementation of payment via any number of methods, and could integrate Bitcoin as a payment method, that should become more clear.

Bread? Seriously? I haven't heard that term used since the hippie sixties.

Have you used that app already? Downloaded it in my phone but im not using it right now.

I heard ios8 just released an app called Breadwallet where you can store your bitcoin there.

Once upon a time we used to walk into a shop and pay by cash. Then we got debit/credit cards which meant we didnt have to carry around cash. Instead we would use this plastic card to authorise payment between our bank and the merchants bank.

Applepay is an extension of this principle. Instead of using plastic cards as an identifyer one uses the iphone which is capable of securely facilitating the transaction without giving away sensitive personal information.

Apple is paid a transaction fee by the bank thus generating them income. This model is akin to itunes. Itunes facilitates selling music and everytime Apple earn a transaction fee.

How does this affect bitcoin. IT DOESN'T because bitcoin is the currency whilst Applepay is the method.

I am guessing if one has a bitcoin account with a bitcoin debit card ( I assume these exist, or soon will) then Applepay can be used to facilitate purchasing in bitcoins. As it's new to the market then Apple don't currently support bitcoin transactions but it's only a matter of time.

Have a guess what, when Apple implement bitcoin then they will enjoy a transaction fee in bitcoin!

Hope this helps to explain Applepay a bit better

bitcoin will be more stronger after this news. cuz apple is a popular company. bitcoin gains populatity from apple with this news

It is still built on the back of same creaking, corrupt system that other fiat is. I don't think it'll be too big a problem.

Well one thing that apple does add to the system by using apple pay is prevent potential attacks that are similar to what happened with target and home depot because the card information would/should be encrypted the entire time

The user base of Apple is too small.

Apple needs mainly lawyers and ink to get individual deals done with credit cards, banks and merchants, the technical innovation is negligible. The efficiency gain is negative, because it makes the traditional payment system even more complex. Apple adds to an existing infrastructure and does not replace existing infrastructure.

In contrast every customer or merchant has the freedom to start using Bitcoin, no one is forced to contract a tech giant or banks for using it. 

That will be major for bitcoin if apply embraces them. Well, apple can use bitcoin as payment for their app.

Apple should embrace bitcoin, it will further boost their sales.