Bitcoin Forum

http://dcebrief.com/apple-ceo-tim-cook-your-kids-will-not-know-what-money-is/

Of course he means paper money, as physical cash, coins and bills. If you know how to interpret things, you can already see where we are headed, and that's a world were there is no way to hide your money from a massive surveillance state. Bitcoin is our only hope at having an alternative economy that it's outside any goverment. The network is already robust enough to survive terrible attacks, nothing has worked against it thus far, not even trying to disrupt it from within, but we need to keep making it better, better obfuscation features as well.
I don't expect anything good from mega corporations like Apple and so on, so Bitcoin is our chance for an open source way out of that Orwellian nightmare.

Of course he says so, but probably not because he believes that cryptocurrencies will be the future. One's got to promote their services... :D ATM cards and especially Apple Pay is what he's talking about, so no difference from current banking services.

Yes, he is talking about apple pay, and I agree with the original poster. If companies like apple are interested in creating a centralized currency system, they will surely try to stop, promote legislation etc. to stop decentralized ones. I do not think that they can really stop Bitcoin, but it does not hurt if Bitcoin goes even stronger for the ordeal to come.

Apple pay promotion nothing more although he has a point in that kids will never have to worry about physical cash in the future as everything will be online.

In my opinion if bitcoin grows to attract an amount important of people, and they want, apple could put a bitcoin wallet inside apple pay.

Isnt it already possible  n thats how paypal has integrated it using the braintree,

I'm glad that we have Bictoin to hide our activities from massive surveillance devices. Maybe gold and silver could be used too, but of course Bitcoin is by far easier.

This might as well be true, but to be such a successful ponzi and a loser, you still have to be heluva smart and have some insights into the future.

Everybody should listen to the Cook, the money and banks as we know them are history and everyone should be getting aware of this.

People load on those bitcoins while they are still dirt cheap, we are onto something here!

If our kids will not know what money is why are they introducing plastic bank notes? Most countries are planning to introduce them over the next few years because they last longer than paper money. Why put all that effort into designing and introducing them into circulation if all governments intend to get rid of paper money completely?

Well it's just a gradual and slow process. The plastic thing is just an intermediate step. Countries like denmark and other north european countries are close to getting rid of cash. Its the ultimate fate of every country to become 100% digital, so then you better pray that Bitcoin is widespread and people aren't stupid enough to use the centralized alternative.

no new type of payment can compete with bitcoin as long as it centralized, fully monitored and controlled as fuck, so no matter what they come up with, it will fail in comparison

it's up to the people now, understanding why bitcoin is superior to what they were accustomed for all this year

Tim cook : your kids will not know what cock is. Yeah Pussy cook they will not.

That's interesting question. Because Tim is a person interested and biased with his apple pay. Near future for plastic money ;D

Everything is going to digital and it's true that future money will be only digits on the screens and not touchable, bitcoin is in the next turn.

This ia too much..i dont think so, my kids or your kids will know about money on future,yes they know it on museum.. ;D lol

We rarely use physical cash already. The present is credit/debit cards and the future is money-based apps. Bitcoin has definitely a very good place in future but this CEO talks about their centralised money-based apps, so it's somehow irrelevant to Bitcoin technology.

Fuck Apple Pay. Greedy, corporate vultures.

What Tim Cook means is that there will be little use of physical currency in the future. We will only use digital currency in the future. Bitcoin is the best digital currency, so if it is used widely, Applepay will integrate it.

apple wont integrate anything. they are known to try to always make a new standard and let their customers feel elitist.

imho: google, paypal and wu may integrate bitcoin.... but apple? no ;-)

I think apple has absolutely no business in trying to come up with their own currency.. I don't see them becoming pro-Bitcoin given their strong centralized and closed source policy, so what I think that will happen is they will simply try to compete against Paypal using the goverment's electronic fiat.

Apple will compete against Paypal using the goverment's electronic fiat for the time being. There is no problem wit that. But Apple is in this business for the money. When bitcoin becomes THE currency, Apple will adopt that to make money.

The big corps will always be looking to make big profits somewhere in the grand scheme of things.

He makes a good point though. In 20 years, paper money may not be commonplace.

Of course not - they will have spent all of it on Apple products

Problem is that most people don't care at all about privacy or everything else. If they see Apple written on it, they'll go without thinking so much about it before.

This statement from CEO of Apple is under beneath the status of his post as he just tried to degrade and make bad impression of a tech which is superior and more trustworthy and complete solution of the current financial problem which will assure freedom and privacy.Bitcoin is reality and more advanced than Apple pay which is just copycat of Bitcoin.

nope bs.

unless you can ensure there is no poor people on earth.. there will always be paper money.

Exactly.  Yet we still see greedy people on here in a hurry wishing it went "main stream" because they think the price will go over 1000 usd again.

They want you to think that "bitcoin is our only hope".
This is a little bit more deeper than it seems, even for people who're awaken.

who is "your" there? if its me,i dont think so,i'm not married now,but i think my kids will still know about money,i targeting 5 years again have a child,and its not enough for dissapear money.

It's a figure of speech. If not your kids, then maybe your kids' kids ... but the general trend (over the last century and accelerating nowadays) is pointing to a cashless society. When everything is digitized it will be much easier to control.

I can see why someone would say that.

If I'm only looking and speaking for myself, I notice that I rarely walk around with cash money in my pocket.

It's because paying with your debit/credit card is available worldwide, if your card gets stolen you just call up the bank to cancel all your cards if you lose cash money it will be gone forever.

that's why i won't buy IBitcoin when apple releas it

At the same time, will anyone know what a plastic ID card was?  I see that as the final fig leaf that will take us into the future.  Once we have everything, and I mean everything in our phones, then the old-fashioned wallet will ride into the sunset.  It will take some time, but this is not as far around the corner as it would seem.

Yea, I also saw that ---> http://www.bankofengland.co.uk/banknotes/polymer/Pages/factsheets.aspx .... So if you take your money to the laundry and you wash it, will you be

arrested for money laundering ? Just joking...  ;D

It just shows you how committed the current banking system is to keep on supporting a dying technology. It gives new meaning to the question -- Cash or Card? 

Our kids will know what fiat money is, but their kids will be paying with everything in digital format. Natural resources will not be able to keep up with the demand for cash at the

rate they are printing it.  ::)

You realize Bitcoin isn't really a replacement for the anonymity of cash, right? Bitcoin is a impregnable worldwide running ledger of every financial transaction that has ever occurred. The U.S. Government has already proven itself to be very adept at parsing the blockchain during the Ross Ulbricht trial and they will continue to get better at it.

Take a dollar bill or any other of the worlds fiat notes and tell me everywhere it's been since it was printed. Most people don't launder their money before they use it because they don't have to and when they use bank notes they are already anonymous. If Bitcoin replaced fiat every hooker, sports bet at a bookie or bag of weed you buy on the street will require laundered Bitcoins. How ridiculously inconvenient.

If bitcoin grows bigger than many other fiat currencies, Apple pay will adopt it and make profit out of it. So will the Paypal.

I think this is doom scenario which will not happen soon. I doubt that paper currency will vanish the next years.There are countries, like mine, where more than 50% in retail shopping is paid with cash. The germans love cash! Even the president of the german Bundesbank Jens Weidmann is against abolishment of cash.
A world with only digital money will not be achieveable that easy.
That however does not mean that Bitcoin won't be successful.Today's currencies lose more and more purchasing power.
Bitcoin is , like Gold, silver, real money and it's purchasing power will rise.

I think you aren't being up to date to what's being developed right now for Bitcoin. Sure, right now Bitcoin still's got a long way to go to improve upon it's anonymity features, but if you knew about some of the up and coming BIPs such as the number 47, you would know that all those goverments trying to track people's businesses through the blockchain are going to get harder and harder until it gets simply pointless to do so.

https://www.reddit.com/r/Bitcoin/comments/3tbw2j/reusable_payment_codes_could_make_blockchain/

Normally if people don't do shady things they don't care about financial privacy. They pay their taxes as normal, they spend their money for normal things. But I agree that brand fan boys are buying everything when they see the logo, even if it worths nothing.

One way or another bitcoin's rise is inevitable!

If all currency become digital,wouldn't it create competition for bitcoin? instead of bitcoin getting widespread,I afraid it become less popular

The good thing about btc is its global and even though our kids wont know what money is. We will still be using different currency I would think. U.S. will use dollars but just wont use cash etc. BTC is used in every country

If all currency become digital,wouldn't it create competition for bitcoin? instead of bitcoin getting widespread,I afraid it become less popular
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Well overall, yes, as currencies become digital there will be more competition for each currencies place, however I think what is being implied is that currencies such as the USD and Euro will become digital, so Bitcoin will still have it's niche.

Bitcoin, in fact, will likely become more popular, since people will have to spend more time on the internet, managing finances and so. This inevitably draws people towards other services, such as Bitcoin.

It may follow a similar path like how the internet was first adopted, it may not.

Hello :-)

I think paper money is still here to stay for a little while. There are still places in the world where even getting basic electricity is quite a challenge, such as many parts of Africa. Also paper money is still used in developing countries and it will take a very very long time to get the proper systems in place against hackers etc if we did go completely digital

Cheers

That's not a valid solution unless you never expect to use a mobile wallet. It doesn't matter anyway. I will never trust some volunteer coder to protect me against an army of paid government coders when I could just use the cash that I know is anonymous.

Obviously he don't know what money is  :D

Big companies have always, and will always want to make a currency as good as Bitcoin. Frankly, I don't think that they would ever be able to beat Bitcoin. Year after year, Bitcoin has stood strong and improved. Apple Pay isn't going to go far with Bitcoin in it's way, and it is going to stay that way for a long time. So Tim Cook can say whatever bull shit he wants to, no one really cares what about what he has to say on this matter.

http://hsto.org/getpro/habr/post_images/160/c28/b8a/160c28b8aee21019cf21328ea1760815.jpg

Please, tell me more about this new plastic money. I think it has a future... I mean...

Believe me, if government wanted seriously disrupt bitcoin they would do in within a week or 2 with no problems. They have arsenal of legal actions that would obliterate bitcoin to the point of being useless.

If you get our current financial system, you'll get, that you can't really move money efficiently from point a to point b. Just because paper money wasn't meant to do that. Current banks are trying to use a workaround by lending money to each other and keeping a private ledger of who I owe money to and who owes me money.  There really isn't anything at the market today that's like bitcoin and altcoins. You therefore should not fear competition from our traditional banking systems.

There will be enough fiat money in museums for them to look at, and if you really worried about that, just collect some now and keep it in a bottle somewhere. It's value will increase with 1% every 20 years, if you lucky.
Kids will not miss something they did not know, it would be this generation that would miss it.

Digital is cool  ::)

Of course paper money will be here for a long while more. Bitcoin is still in its early stages, it has only been around for 7 years, and when you look at fiat.....you know. Bitcoin is improving year by year and the security is becoming better and better. Of course there are going to be some places where you will not be able to use Bitcoin, it will be a long time before Bitcoin becomes mainstream.

I disagree with this example completely.

There's a huge bias with the photo; it's showing an intentional biodegradation of a material made to biodegrade. It isn't taking into account the different materials used in bank notes, and how they are made to handle the typical wear and tear that American bills would have to deal with.

PLA, the plastic used in the photo, is, according to Wikipedia, "derived from renewable resources, such as corn starch (in the United States and Canada), tapioca roots, chips or starch (mostly in Asia), or sugarcane (in the rest of the world)." The plastic it meant to degrade in such a dramatic way; it is intentionally not made to last.

Fiat money will exists but as the game coins that are shown in our screen.
Maybe not 'your kids' but after 20-30 years there will be less paper money available.

Indeed. I'm actually working with this material on a daily basis and it would never be used in banknotes because it actually degrades very fast. Not every material that has the word poly in it is a plastic that will last forever and become garbage in the oceans.

Cash money disappearing is just a matter of time, it is the evolution of fiat. We go from rocks to copper, silver and gold coins and then to fiat as we know it.

He is trying to promote Apple Pay, when in fact Bitcoin is better.
It would be very sad for him if in the future people would rather use Bitcoin than Apple Pay, and it seems that he had predicted it. ;D

Every giant company want to have its own payment processor.
So google wallet is, and also i think that Apple Pay will be similar to AliPay, paying with only one-click.

Of course all of them want to try - if one of them takes off and gains significant market share they'll make a killing on profits (and save on transactions costs as they won't have to interact as much with other processors - internal transactions are usually cheaper). It'd be a no brainer for any big tech company not to invest in a payment processor of their own. As to whether it'll succeed - that is a different story.

That statement is pretty accurate to be honest. Everything is going plastic/digital nowadays.

ApplePay is not a currency like Bitcoin.Its is a payment processor like PayPal.People should understand the difference between two.No multinational would dare to introduce its own currency unless they risk getting banned from functioning

I can honestly say that it is only through bitcoins that we will be able to open up the entire economy to the world. One thing i am sure that is going through the minds of the CEO of big companies like apple is how the bitcoin thing will compete them. there are these people who always think that only good thing come from their companies. Whether they like it or not, trust me that the bitcoin is gaining popularity day and night.

Well it is clear that JP Morgan and Chase & Co are not going to bother banking the rest of the world which is actually the bigger part of the population on earth. It's not profitable for them, therefore only something "out of the system" like Bitcoin is going to allow all those people be able to run their own bank and start accepting payments.

i agree with what you say man... but i fear that bitcoin has its limits.. untill it gets recognized in each and everything .. it will be hard to work jsut with btc and not fiat

Children will not know that you just buy a program and be able to just run and be use it for ever. They only know you have to pay for everything and they want more money every time. I like the products of Apple only I don't like how things work out and Apple is so greedy.

I own an iPhone, and I will admit I am kind of pissed at how much the phone costs, with or without a plan. However that is not the biggest issue I have with the Apple Platform.

What my biggest gripe with Apple's system is that they allow for micro transactions in games and other apps, which has effectively ruined most of the gaming industry. This is now transferring into pay-to-play games, and it is disgusting. But the newest generation, or the kids <12 as of this year, think that they can just go buy power ups or whatever and avoid doing any work. They think there is always a way the can buy an edge, when in reality there is none. Once the kids grow up, we can likely expect to see a similar mentality, or they'll be fine with buying more things in over priced small amounts, and when you consider the average education or intelligence these people will have, it will be a generation of people that are fine with buying excessively marked up goods.

I wish there were more people that cared about how everything is excessively over priced, but I guess everyone is fine with paying whatever these days.

There's an intrinsic "immaterial" value in this stuff, filled up with illusions and HUGE, HUGE money spent on marketing.

I think Tim Cook is not informed about Bitcoin. Our kids will know paper wallets that contains millions of satoshis.  Other paper wallets will continue to exist.  I also don't know if such predictions can be taken seriously, when the current financial system is debt based with trillions of dollars of debt.

it will be a scary world indeed if we lose money that we can hold in our hands. And this is the advantage of Bitcoin and precious metals. I really don't want to see the day when our kids don't know what real money is.

Yes. Paper wallet is also paper money. So Tim Cook should be educated about that. Maybe we can give our paper wallet to somebody else as a payment.

You will never get rid of cash. If they withdraw all notes, then people will go back to gold, silver and copper coins, and will probably use barter and promissory notes as well. Bitcoin and associated services will replace bank transfers, but there will still be a cash equivalent around.

Of course the kids would know. It's the thing one purchases drugs for.

In that time, all the drugs and legal things will be purchased with digital currency, bitcoin or Monero.

Of course my kids still know what money is. They are in kindergarden now and teachers are still teaching about how to buy lunch/snack using notes and coins...

I think in a few generations, the kids and their parents will not see/use the paper notes. Every currency will be digital.

According to me you are wrong about the role of bitcoin and even about its existence without being regulated (known) by the various Governments of the world. Cannot be sure if will survive and have good use and spread if will be used or conceived as a tool to hide money. If money is earned with honest work have no reason to be hidden. So, I cannot understand all this desire to identify bitcoin with the possibility to hide money. As for me are totally other its qualities. Anyhow, if we will remain at the hidden money I think that this use of it will make it dirty (like it is big part of it now and even more before) and will leave away from it the honest businesses and people. Not because will have fear that "touching" it will make dirty their hands. But because instinctively, the honest and normal people don't have pleasure to have to do with something which is used mainly for illegal things and have such reputation.  

As for me the only brilliant future of bitcoin wanted by everyone who follow, spread, use, invest or simply like it is achievable only throgh its full regulation as a currency by most (possibly all) of the countries of the world. This must be the aim to be achieved by everyone who care about it.