Topic: How can Alternate Cryptocurrencies Compete with Apple/Android pay? (Read 1341 times)

I don't think so. You can't use Android pay to buy/sell things but you can use altcoins. Apple/Android pay are only good for that niche whereas altcoins are like currency.

I met people IRL who had been burned and churned out when BTC exploded to 1k+ per coin.

I have said for years that we were running out of time fast..
Because the big players will capitalize on the notion of a "digital currency"
(leaving Crypto flat footed & left behind)

They do not need to "technically" compete point for point with Crypto (i thought this went with out saying)
If the end result is the same then it's all that matters to the larger global user base.
They just want to pay for their shit with super-dooper space age electronic tech.

I had said long ago if one of the big guys rolls out their own version of a digital currency
that takes away the potential Bitcoin future users market share we are in a lot of trouble. (for future adoption)

I have seen those two Apple and Android pay making news more & more..
If they take the user adoption then will never get to Bitcoin.. then THAT is all that matters.

This will have a damning effect on all of crypto!

EDIT:
And..
The public's biggest concern would be SECURITY.
So who would you trust more a coin dev here or Apple etc ?
I would trust Apple etc because those big guys can afford to invest anything.
They can hire massive teams of security peoepl to work day & night.
Crypto can not compete with that..
These coins are restricted by their devs who provide the security.
..and are funded out of pocket etc..

Apologies I hadn't seen this thread, so I had started my own:

https://bitcointalksearch.org/topic/apple-pays-flaws-compared-to-the-hypothetical-crypto-currency-1399040

I'm going to have to agree with MicroGuy. The people have no idea what in the hell they want. I mean, they have no idea they are getting fucked by the banks/government. If the people knew better, decentralized currency would be in use today.    

Payment protocol (BIP 70) can be modified to work over NFC, and basically what we're missing is someone to write a formal spec for how that works (simple enough) and write the code. So, mostly we need more development resources than we have. Any volunteers?

Well they better get their act together and compete instead of trying to kill.  Crypto isn't going anywhere and its only a matter of time before one of us gets it right and hits mass-market jackpot....plus banks are not innovators, they are piggy backers, so they already are on the back foot as they'll just adopt whatever has market dominance in this arena and implement that.  Thats still a win for crypto IMO.

I like this kind of thinking.  The problem is the banks want it all for themselves.

Agreed +100...phones should be an option, not mandatory!

okiefromokc further up posted a link to a video demo that might be of interest to you.

As for Apple/Android pay, I don't think crypto should be worried, so long as we can collectively provide comparable or better technology with efficient user experiences.

Theres enough transactions on a daily basis for us all

A better question is why would I fumble with pulling out my $600 cell phone, and handing it to some pimple faced dweeb through the drive-thru at Mcdonalds to buy a $2 coffee?

I think people here overestimate how many people like using their phones to pay for things. A plastic card is and will always be the most convenient and easiest option.

There is a reason Bitcoin is called the currency of the internet, it's better it stayed on there along with other alt coins. Sure there's a crypto market for small niche and hobbyist stores but overall I don't expect it to conquer walmart or fast food for many, many years if at all. I also see Apple and Android pay flopping badly as well (and already we have evidence Apple Pay is not taking off like they hoped)

So no really a huge amount of money going in in altcoins.  Except maybe for the sharks who control those coins (and created them out of thin air).  But if there are no fishies then how can the sharks eat? 

So in conclusion, the altcoin 'economy' is shrinking...?

They can't. Choosing the right battle is (more than) half the battle.

Well, to shed a little light and hope on to this topic... this was posted this evening...

https://bitcointalksearch.org/topic/emunie-decentralized-debit-cards-and-integrated-pos-systems-first-look-1200605

In this post is a video link with a demo of the POS (Point Of Sale) debit smart card using the eMunie network.

Dan has posted a description to go with the video.

It's simple. Name recognition = trust.
Apple has name recognition.  Android has name recognition. Altcoins don't.

Honestly, who do you think most people will trust with their hard earned money? A multinational corporation or some sweaty fat guy trying to make a quick buck by cloning coins in his mother's basement in Bulgaria. People don't trust crypto nearly as much as they trust Apple.

Until we stop supporting  the incompetent and dishonest "developers" (we all know who they are) and other blatant scammers, altcoins will remain on the fringe of acceptability and will continue to be useless for anything other than making a quick buck.

The world simply does not know what it wants, because it doesn't know about decentralized currency. You can't want chocolate cake with ice cream if you don't know about chocolate cake and ice cream.

Once it learns about decentralized money, no centralized payment platform will be able to compete. So the banks and Apple can try as they may, but once the people learn about freedom, they will demand freedom. Then many of the developers and early adopters from this sub-forum will become god-like in the eyes of the people.

But we shouldn't use our god power for self-interest, we should use our god power for the benefit of all!!

"A lot of college funds and savings were lost in the crypto craze."

I'd put real money on it being predominantly lunch money, allowance and birthday money from grandma and grandpa, in terms of the amount of vocal fishys alone.

I mean, the chances of you talking to a 13 year old on the internet increase every day.

Off course general public does not care. It does not matter.

Take tutanota or protonmail. They can be successful even though general public is happy with their gmails and outlooks. Or Linux does not have to be have 99% of pc users to prosper. Its enough to have 1% too be good.

The same with altcoins. It does not matter if 90% of ppl will use google or apply pay and 8% more uses bitcion. Its enough if the few remaining percent use it.

When the economy collapses, I guess we'll have to see if people trust Apple pay or Bitcoin more heh.  I think people view stuff like Apple pay as the same thing as airline miles, and they see Bitcoin as some kind of underground drug trade thing.  When the shit hits the fan and people have to do something like an Argentina/Greek barter economy, Bitcoin(s) will probably win.

Yup. But don't get mad, it's ok if what you hoped would happen didn't happen.  A lot of college funds and savings were lost in the crypto craze.  Someone outta do a documentary on that one.

Title says it all. It would seem Apple/Android pay may have rendered altcoins obsolete or at the very least, irrelevant. We all know the arguments but the general public. Just. Does. Not. Care.