Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25919. (Read 26608306 times)

Apple has less than 15% marketshare in mobile phones. Stop expecting big results because of them.

Why not? It looks like EBay/PayPal/Braintree/Coinbase are on their way towards implementing a simple, secure worlwide payment network via BTC.  They chose to announce that the day before Apple talks about its mobile payment solution.

In other words, the competition is on. But if the BTC route proves better/more profitable, Apple is free to correct.

On the other hand, confirmation of Satoshi's accounts being hacked is a tad . . . much.


 

Is the implementation really going to be "zero" fees?  Doesn't any business model need some monetization to make it practical?

Never?  That is a pretty strong statement.  If they make an announcement tomorrow and Bitcoin is mentioned I have to admit it will be fun to say "I told you so."  

Perhaps an example helps.

Suppose @RPietila is now in the US (to simplify the example) and wants to buy a bottle of fine French wine that costs 500$ if paid in cash at the store -- just the current market price of 1 BTC -- with free delivery to @RPietila's location.  The wine merchant "accepts bitcoin" through Bitpay.

GOING THROUGH BITCOIN:

Years ago, when the price was 3$/BTC, all fees included, @Rpietila bought (say) 1.03 BTC for 3.09$

Today, @Rpietila clicks the bitcoin payment option and is directed to a Bitpay form that specifies the amount of bitcoin he must send, which is 1 BTC plus (say) 0.03 BTC to cover all the costs and fees.

@Rpietila transfers 1.03 BTC to the Bitpay address, shown on the form.  Let's suppose there is no fee for that.

Bitpay sends 500$ to the wine merchant's bank account. Pays a bank transfer fee for that, let's say 5$.

Bitpay sends the 1.03 BTC to Bitstamp and puts it up for sale.  Let's suppose there is no fee for that.

@JayJuanGee deposits 520$  into his Bitstamp account. Pays a bank transfer fee for that, let's say 5$.

@JayJuanGee buys the 1.03 BTC for 515$ (suppose that, by miracle, the price hasn't changed). Pays a trading fee on that, let's say another 5$.

@JayJuanGee withdraws the 1.03 BTC.  Let's suppose there is no fee for that.

@Bitpay now has 515$ in its Bitstamp account.  Withdraws 510$ to its bank account and pays a withdrawal/bank transfer fee of $5.

NET RESULT:

Bitpay paid 505$ (including one bank fee) and received 510$ (after all Bitstamp fees).  The 5$ difference is their processing fee.

@RPietila paid 3.09$ and got to enjoy a bottle of fine wine worth 500$.  He has the same amount of bitcoins that he would have if he did not buy those 1.03 BTC way then.

@JayJuanGee paid 525$ for the privilege of paying the rest of @Rpietila's wine bill (496.91$), plus three bank transfer fees, the Bitstamp trading fee, and the Bitpay processing fee; but he now has 1.03 BTC more in his hoard, nominally worth 515$, that he may be able to sell to @Erdogan tomorrow and thus pass that privilege on to him.

WITHOUT GOING THROUGH BITCOIN

@Rpietila clicks the bank payment option and gets the wine merchant's bank account #.

@RPietila sends 500$ to that account, pays a bank transfer fee of 5$.

NET RESULT:

@RPietila paid 505$ and got to enjoy a bottle of fine wine worth 500$.

CONCLUSION: Left as an exercise.

Explanation

If Apple do launch their own currency payment system, that's no bad thing.

Bitcoin is the fastest way to deploy a global competitor whose fees are not dictated to you by another corporate. It's like the Android version of payment systems.

And Android is bigger than iOS.

edit

$2,000 BTC by Christmas

Relevant:

I don't know if they're going to integrate Bitcoin.
Some months ago, Bitcoin Wallet Apps re-Enter to the iOS AppStore after Apple’s Policy Shift, so tomorrow we're going to see if it's going to be with their own service, integration with VISA or if they're going to integrate Bitcoin  

No rumors about it... people is just expecting the f****** iWatch, iTime or whatever you call as well as the new iPhone... so don't expect anything...
#hipsters... haha

Apple will never ever integrate BTC. I expect mobile payments integration with Visa etc and lower fees than usual with CCs. Apple has enough power to bring Visa etc to lower their fees just for Apple integration.

But it wot be THE big BTC-killer some market-members seem to expect right know. Its just NFC with loweres fees Visa. Thats about it.

There is a lot of truth to what you are saying - however, weak hands are most-likely a psychological state of being rather than a financial state of being.. and whether you have invested beyond your ability to financially withstand downward price manipulations.

1st: you need NOT invest more than you can afford to lose - whether that be $20 per month or $20K per month.

2nd: even if you are NOT financially well off, you can benefit from BTC being a good investment vehicle and to increase your wealth, no matter the amount of fiat you can afford to place therein

3rd: even though I agree with your main point that the most wealthy have the highest potential to benefit from bitcoin's future exponential growth, there has already been considerable redistibution of wealth through bitcoin, and there will likely continue to be some additional redistribution of wealth through bitcoin, and if some less financially fortunate peeps jump on board, they will likely be able to share in some of that redistribution of wealth... .so long at they are NOT distracted by the current downward manipulation of BTC prices and the ongoing attempts at FUD spreading concerning BTC's future.

Nice thinking.

Apple about to launch their own payment system that threatens PayPal. PayPal use the backlash that Apple caused when it threw out Bitcoin from iOS to their advantage.

That could mean more Bitcoin integrated offerings soon.

I can imagine it not starting a rally. No news seems to right now. Mr. market is manically depressed right now.

I think people are still waiting on the Apple news release tomorrow.  Then when Apple says that they are integrating Bitcoin in their payment app I can't imagine how that would not trigger a rally of some sort!

All interesting!!!!!!   One day before Apple's scheduled event??

PayPal news and Satoshi hack news in the same day.

Coincidence?

Is Satoshi trying to give PayPal some extra liquidity?

Does he not like the idea of PayPal integrating with his decentrlaised trustless baby?

Or, does he need to engineer a way to come out so he can spend his millions?

Is price decline partly caused by a concern of Apple's big iphone6 announcement tomorrow?  See article: http://www.investing.com/analysis/apple,-scotland-and-bitcoin-225112

I think that the fact that there was this big announcement by Paypal today that is showing some Bitcoin integration is only a sign that Apple is going to do the same.  Sure, the phone will allow for other payment options too but I believe Bitcoin will eventually show itself to be the safest and cheapest way to use a mobile payments system.

Plus there are rumors that the iphone 6 will allow for Bitcoin payments too: http://www.bidnessetc.com/24803-iphone-6-might-feature-bitcoin-functionality/

just say'n...

FACT: /\BTCITCOIN IS TURNING THE CORNER HERE!!!     >>>  FEKKIN' NOOBZ!!!

http://www.wallpaperup.com/uploads/wallpapers/2013/02/03/33405/e6ba1139402f8ed39d6a4cde8726b218.jpg

What, it happened before? Let me guess, earlier this year?