Topic: Why Apple Pay Is a Threat to Bitcoin | Coindesk | #bitcoin #applepay (Read 3731 times)
October 12, 2014, 09:00:56 PM
apple pay and BTC are not the same, why put them against each other?
October 12, 2014, 04:15:25 PM
Please, Apple Pay is no way a threat to Bitcoin.
Apple Pay is credit card, fiat based; this is like comparing apples to oranges (pun intended
)
If anything, Apple Pay will get the masses used to the idea of paying with a smartphone.
But no, it is not revolutionary, and cements their position in bed with the credit card companies.
And we know where closed systems usually end up.
Apple Pay is credit card, fiat based; this is like comparing apples to oranges (pun intended
)If anything, Apple Pay will get the masses used to the idea of paying with a smartphone.
But no, it is not revolutionary, and cements their position in bed with the credit card companies.
And we know where closed systems usually end up.
October 12, 2014, 03:58:46 PM
apple pay still relies on US dollars and credit card company. all that has changed is that instead of taking out a plastic card from your pocket, your taking out a phone.
bitcoin is totally different. it is not reliant on US dollars or credit card companies. it is not reliant on banks it is not even reliant on apple lying about its secrity measures to protect consumers data. bitcoin is bigger than apple pay. and those thinking apple is bigger, either do not understand bitcoin, you they are too attached to fiat and only want bitcoin to expand for fiat wealth reasons(pump and dump).
to me apple is just a gimmick, simply a way for credit card companies to not have to post out bank statements or send people replacement plastic cards and pin numbers through the mail. nothing more.
This is correct. All that apple pay does is change the UI (actually the user experience) of paying with a credit card. bitcoin is totally different. it is not reliant on US dollars or credit card companies. it is not reliant on banks it is not even reliant on apple lying about its secrity measures to protect consumers data. bitcoin is bigger than apple pay. and those thinking apple is bigger, either do not understand bitcoin, you they are too attached to fiat and only want bitcoin to expand for fiat wealth reasons(pump and dump).
to me apple is just a gimmick, simply a way for credit card companies to not have to post out bank statements or send people replacement plastic cards and pin numbers through the mail. nothing more.
I would argue that apple pay will actually make consumers more comfortable using bitcoin as they will be comfortable using their smart phone to pay for things with a face to face transaction.
Bitcoin provides people with a much cheaper alternative to paying for things
It's not a small change to the UI. ApplePay makes paying with your credit card a lot faster and easier. In addition it makes it A LOT safer and protects one's privacy more too. And it's a little lighter in the wallet, but definitely less stressful wondering if you have your card, if it's lost, or someone stole it. It's pretty much equal to or better than a plastic card in everyway from a consumer perspective.
October 12, 2014, 01:46:36 PM
apple pay deals in fiat. so there's that.
^ This.
Bitcoin is not about making retail payments easier. It's about making global control and transfer of wealth/value immune from 3rd party intervention.
There's been way too much excitement about bitcoin as a retail payments mechanism lately. I agree that's a nice thing, but it's not the core reason why bitcoin is interesting and powerful.
October 12, 2014, 01:41:22 PM
Second of all, Apple Pay is NOT anonymous.
It is not anonymous in the same sense that Bitcoin is, this is true. However, it does have a degree of anonymity. Your personal details are never exposed to the merchant. This is something of which several posters upthread seem to be ignorant. In this sense, Apple Pay is much more than simply replacing your plastic with your phone.
While nothing like the benefits of Bitcoin, Apple Pay still is a major improvement over current credit and debit card processes.
When you use a credit card, your name as it appears on your credit card will generally be displayed on the credit card receipt. I don't see any real reason why this would be any different with apple pay.
If you don't see how Apple Pay does not expose your identity to the merchant, and especially if you think that it provides your name and number to the merchant, then it just exposes you as being completely ignorant to even the most basic aspects of Apple Pay.
Reed moar. Post after.
October 12, 2014, 01:09:18 PM
Second of all, Apple Pay is NOT anonymous.
It is not anonymous in the same sense that Bitcoin is, this is true. However, it does have a degree of anonymity. Your personal details are never exposed to the merchant. This is something of which several posters upthread seem to be ignorant. In this sense, Apple Pay is much more than simply replacing your plastic with your phone.
While nothing like the benefits of Bitcoin, Apple Pay still is a major improvement over current credit and debit card processes.
Apple Pay might delay Bitcoin adoption, but I don't think it will displace it.
The major improvement that apple pay has over credit cards is that you need to carry one less thing on your person when spending money.
October 12, 2014, 11:42:04 AM
Second of all, Apple Pay is NOT anonymous.
It is not anonymous in the same sense that Bitcoin is, this is true. However, it does have a degree of anonymity. Your personal details are never exposed to the merchant. This is something of which several posters upthread seem to be ignorant. In this sense, Apple Pay is much more than simply replacing your plastic with your phone.
While nothing like the benefits of Bitcoin, Apple Pay still is a major improvement over current credit and debit card processes.
Apple Pay might delay Bitcoin adoption, but I don't think it will displace it.
October 12, 2014, 07:50:25 AM
First of all, Apple Pay is NOT decentralized. Second of all, Apple Pay is NOT anonymous.
October 12, 2014, 06:59:58 AM
Apple Pay is another payment processor. PayPal is 150 million users at $40 billion capitalization. This is compared to digital currencies which will be worth $Trillions when you can get 100+ million users using them (currently we're at 500K-2M users).
It's true that Apple is effectively doing the grunt work that will make merchant adoption of digital currencies immensely easier.. still doesn't do us much good if that means BTC whales are dumping to buy groceries, sports cars and mansions and no new users are coming in.
Still it doesn't address the critical issue here being userbase expansion for digital currencies. Bitcoin has some terrible FUD and bad PR about it and nobody seems to be coordinating user adoption at all.
No one will coordinate user adoption and the reason for this is that no one backs bitcoin. In order for adoption to spread, people must learn about bitcoin via word of mouth and decide that it makes sense for them to start using/accepting bitcoin.It's true that Apple is effectively doing the grunt work that will make merchant adoption of digital currencies immensely easier.. still doesn't do us much good if that means BTC whales are dumping to buy groceries, sports cars and mansions and no new users are coming in.
Still it doesn't address the critical issue here being userbase expansion for digital currencies. Bitcoin has some terrible FUD and bad PR about it and nobody seems to be coordinating user adoption at all.
You are correct to say that apple pay is very similar to paypal. They work in very similar ways and have very similar high fees/costs. The main difference between apple pay and paypal is that it is very easy to use apple pay with mobile payments in person
October 12, 2014, 05:50:16 AM
Merchants will still be charged high fees. Apple Pay is the same system as we have now with credit cards...it doesn't cut out any middlemen.
Correct..
Apple for now doesnt care about bitcoin. Bitcoin should first take care of their own problems first. 
October 12, 2014, 02:23:17 AM
I sure don't hope so, because this might be the key for bitcoin to make huge impact by patching up with apple. who knows, they might one step away from creating the boss of all the BTC app.
October 12, 2014, 01:10:41 AM
Merchants will still be charged high fees. Apple Pay is the same system as we have now with credit cards...it doesn't cut out any middlemen.
October 12, 2014, 01:02:56 AM
Apple Pay is another payment processor. PayPal is 150 million users at $40 billion capitalization. This is compared to digital currencies which will be worth $Trillions when you can get 100+ million users using them (currently we're at 500K-2M users).
It's true that Apple is effectively doing the grunt work that will make merchant adoption of digital currencies immensely easier.. still doesn't do us much good if that means BTC whales are dumping to buy groceries, sports cars and mansions and no new users are coming in.
Still it doesn't address the critical issue here being userbase expansion for digital currencies. Bitcoin has some terrible FUD and bad PR about it and nobody seems to be coordinating user adoption at all.
It's true that Apple is effectively doing the grunt work that will make merchant adoption of digital currencies immensely easier.. still doesn't do us much good if that means BTC whales are dumping to buy groceries, sports cars and mansions and no new users are coming in.
Still it doesn't address the critical issue here being userbase expansion for digital currencies. Bitcoin has some terrible FUD and bad PR about it and nobody seems to be coordinating user adoption at all.
October 12, 2014, 01:00:13 AM
I don't think so. Apple Pay is nothing new,just resemble the traditional payment (debit card, credit card, bank transfer), and increase a little bit user experiences, which is still completely different from cryptocurrency bitcoin. It provide some extent of anonymous security but can't compete with bitcoin.
October 12, 2014, 12:28:43 AM
Valid points IMHO. The only counter is to continue to work hard to make it easier to buy, secure and spend btc for non tech savvy folks.
October 11, 2014, 09:10:02 PM
apple pay still relies on US dollars and credit card company. all that has changed is that instead of taking out a plastic card from your pocket, your taking out a phone.
bitcoin is totally different. it is not reliant on US dollars or credit card companies. it is not reliant on banks it is not even reliant on apple lying about its secrity measures to protect consumers data. bitcoin is bigger than apple pay. and those thinking apple is bigger, either do not understand bitcoin, you they are too attached to fiat and only want bitcoin to expand for fiat wealth reasons(pump and dump).
to me apple is just a gimmick, simply a way for credit card companies to not have to post out bank statements or send people replacement plastic cards and pin numbers through the mail. nothing more.
This is correct. All that apple pay does is change the UI (actually the user experience) of paying with a credit card. bitcoin is totally different. it is not reliant on US dollars or credit card companies. it is not reliant on banks it is not even reliant on apple lying about its secrity measures to protect consumers data. bitcoin is bigger than apple pay. and those thinking apple is bigger, either do not understand bitcoin, you they are too attached to fiat and only want bitcoin to expand for fiat wealth reasons(pump and dump).
to me apple is just a gimmick, simply a way for credit card companies to not have to post out bank statements or send people replacement plastic cards and pin numbers through the mail. nothing more.
I would argue that apple pay will actually make consumers more comfortable using bitcoin as they will be comfortable using their smart phone to pay for things with a face to face transaction.
Bitcoin provides people with a much cheaper alternative to paying for things
October 11, 2014, 09:04:35 PM
Bitcoin can approach many people and is available at most of computer systems, IOS or Android smart phones.
Bitcoin has more potential than Apple Pay. No people will buy iPhone 6 for the aim of using Apple Pay. Bitcoin is their best choice.
Bitcoin has more potential than Apple Pay. No people will buy iPhone 6 for the aim of using Apple Pay. Bitcoin is their best choice.
October 11, 2014, 08:57:15 PM
Bravo! Thank you for the correct response.
Apple is a tired old giant who used to be "great", but now they are nothing special.
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October 11, 2014, 08:53:57 PM
apple pay deals in fiat. so there's that.
October 11, 2014, 08:10:41 PM
Apple Pay isn’t even here yet and, arguably, it’s already winning the war against bitcoin.
When merchants see that they have to pay Banks + Payment Processors + Apple, I think they would rush to Bitcoin.
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