Bitcoin Forum

This just in: Apple new app dev guidelines :)
https://developer.apple.com/appstore/resources/approval/guidelines.html

11.17
Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions

So do they consider Bitcoin an approved virtual currency which is in compliance with all state and federal laws?

The last 30 minutes of buying suggests that the answer is "yes".

Why wouldn't they? Even IRS (US Internal Revenue Service, AKA Tax Collectors) says bitcoin is a taxable asset.

i don't think bitcoin is approved by whoever apple wants the currencies to be approved by.

This line is very vague.

But whatever floats your boat, vague news about china drove the price down, maybe vague news about apple may drive the price up.

funny how they feel the need to 'federal and state laws' while android never had an issue with so called laws for accepting bitcoin.


they would tax crap if they could...

in fact they probably already do

The good news just keeps coming.  I just bought another 2 coins.

Fasten your seatbelt, we are going vertical !

http://www.coindesk.com/apple-policy-update-may-open-door-bitcoin-transactions/

Sorry, not too fast. It's gone down to $660. Hope the mini-crash didn't hurt your butt too hard!

It Looks Like Apple Just Opened The Door For Bitcoin Apps

http://www.businessinsider.com/bitcoin-apps-in-the-app-store-2014-6

It won't reach the vertical stage until at least 5 digits.

We're still all early adopters.

If IRS says Bitcoin is "okay" then Bitcoin is "an approved virtual currency".

Don't read into it too much.  They left it vague because they're not idiots, and they know there is more than one.

Otherwise they have to rewrite the sentence over and over.

-B-

I am not so sure yet. Those parts worry me, a lot.

Prepare to leave the station, this huge news can lead btc to a new all time high, 1000$ will be the bottom value in few weeks.

How long till it is in the istore?

If some bitcoiners believe that Apple is willing to actually lose marketshare to Android over this whole bitcoin thing, they are dead wrong.  Even Apple sees the writing on the wall that in just a few short years, bitcoin is going to be e-v-e-r-y-w-h-e-r-e, worldwide.  And the main apps people will use to buy goods and services with btc will be on a smartphone.  

No way they are going to sit on the sidelines and watch this blow up big.

I suspect that the same people who claim that the Cyprus bail-in sparked the April 2013 ATH will look back and proclaim that iOS 8 caused the July 2014 ATH.

They're probably just trying to waive their responsibility for how it gets used, in as broadly interpreted (i.e. vague) a way as is possible. When you really scrutinies the wording, it implies that when you travel to a state/federation that has legislation against "virtual" currencies, the app itself is deemed to be violating Apple's appstore guidelines. Which is pretty laughable.

Hmmm, that makes sense to be honest. It sounds very Apple-like at least. Well, will see how it goes and what it does to the price ;D

When it reaches the vertical stage, how much do you think it will rise per day? (on average). When will we hit moves of over $100 per day?

or for that matter moves of $1000 a day?

Suddenly 1000$ seems quite low...

At $660 it's quite common to see daily price movements of $35.  If we assume the same level of volatility, then at $2,000 it will be common to see daily price movements of $100, and at $20,000 it will be common to see daily price movements of $1,000.

Volatility is likely to decrease as market cap increases, though.

If Apple really accept Bitcoins transaction, It will be big boost for Bitcoins because of acceptance of istore.

everyone buys new phones in the fall (september - november). if apple doesn't start allowing bitcoin apps now then android phones will take their marketshare

I think apple will def support bitcoin apps if apple doesn't want to lose millions of dollars in lost revenue which will affect their stock price and future earning potentials

hahahaha oh wow

TO THE CORE!

... of the apple.

i don't think there's nearly enough bitcoin users to make a dent in sales

What I am really scared to think is that Apple will come up with his own "iCoin".
If they do that we are fucked.

Loots of sheeple following apple to whatever the phak they do  :-X

It would be nothing more than a token representing 'real' currencies. They'd never go into the business of creating an actual currency.

And a quick lesson for anyone who took it up would be if someone opened up an unofficial iCoin/ bitcoin exchange.

Just imagine how unbelievably convenient that would be. No bank transfers, instant deposit and withdrawal. And it would last a couple of hours before Apple deprived you of your iCoins for breaking terms and conditions.

Let's just hope the fuckers don't have have these things in mind.

I can imagine fools saying "finally a virtual currency controlled by our apple heroes instead of drug dealers" yahooooo





noooooo lol

This is great news. Apple, you have just avoided losing a client, I was considering going Android when my iphone dies just because of the app thing.

There was a dude a while ago who shot an iphone due to this, no? Do I remember correctly?

More than one.

https://www.youtube.com/watch?v=MzU8nL7KihA

Rocket fueling...

The good news for bitcoin is converging....expect a big uptick in price in the next 2 months.

TO DA MOOOON!

seriously tempted to buy 1 or 2 more but can't really afford them :(

Check out Applcoin

The "vertical" stage just means that the exponential rise is coming to an end. If you take an exponential rise (and smooth away the booms and busts) and plot in on a liner scale, it will ALWAYS look vertical.

On average, bitcoin has been doing this:
rising roughly 10x per year
doubling every 100-ish days
increasing by 22% (ish) per month
increasing by two-thirds of one percent per day

That means we'll expect to hit $100 per day when the price itself hits about $15,000, which should be a little over a year from now.

Caveat: I'm calculating assuming a smooth rise, and of course there's lots of superimposed noise that places lots of room for error in those calculations.

Approved currencies
It's not approved yet.

As per someone's tax discussion, it's not yet taxable in my Australia as far as i know... I'm a semi holder of BTC and I haven't gotten been notified of any tax related issues.

It's anyone's guess but I figure by the time it hits 12k-25k it should be pretty well vertical.

How long it stays vertical before starting to level out from saturation is also a tough call but I doubt it will last much past 300k-400k.

It depends on a lot of things, from the final extent of adoption to how many coins are lost before mining is done, and of course whether or not there is an event that breaks the protocol and destroys Bitcoin completely.

This sounds great. However, I won't truly believe it until I see a BTC app in the app store.

It is good news. It will not make much difference though. Apple is not accepting bitcoin as a payment for apps, they are merely allowing bitcoin apps to make transactions. iPhone users have been using Blockchain Wallet for the past anyway. Allowing a bitcoin apps will make the use of bitcoin a little bit easier, but not by much.

Seriously though, you have to realize what this will do for adoption. It's not really about the tangible things that come immediately out of it, it's about the sentiment that comes with them conceding that they are OK with Bitcoin.

I will look forward to seeing the apps that were previously removed from the Apple App store seeing a rapid revival
Also I wonder how this affects blockchain since they purchased something related to that the Zeroblock app
http://blogs.wsj.com/moneybeat/2013/12/26/doing-ma-with-bitcoin-blockchain-buys-zeroblock-app/

Omg mega vertical climb incomming. This is going to be one hell of a ride.

mooning "soon-ish"

lol if you unironically post like that.

Funny to read how people react to the news here.

Apple dis-allowed bitcoin transmitting apps in AppStore - No one cares about apple, blah, pure FUD, won't affect the price for sure.

Apple allowed bitcoin transmitting apps in AppStore - BOOM! BREAKING!! M-M-M-MEGANEWS!!! THE PRICE WILL NOW GO THROUGH THE ROOF, THEN TO INFINITY AND BEYOND!!!!1

That's because most people, and even more so investors, are naturally optimistic. You see the same behaviour in any share/ finance forum. Theres also a psychological barrier to shorting, as it doesn't feel natural to make money when the price is falling.

It's human nature, get over it.

That will be awesome, but i still not buy their over priced shit.

Hmm I think we're about to reach the vertical of another bubble. Not the definitive vertical that will take us to da moon, but maybe one step further.

Yes, stupidity is part of human nature, and I don't want to get over it, since I enjoy reading things that are funny :)

Does this really make much of a difference? I see more and more people nowadays choosing cheaper alternatives over iPhones. I guess we'll be seeing developers making bitcoin IOS apps soon, but don't really expect this to have much of an effect on the adoption rate of BTC.

I guess the average Apple user is more affluent and tech savvy/brainwashed than one of them Android losers. I'm a WP8 so no one loves me.

Average Apple users more tech savvy then Android users? In what alternative universe do you live? ::)

My own lovely one. Tech savvy as in being keen to spend stupid amounts on the latest gadgets and staying on top of the latest developments.

Oh, I see. Yes, that describes Apple users quite well. Just don't see how the loser part fits with the Android users. I'm an Android user myself and I wouldn't describe myself as a loser, nor the OS itself.

An Apple user would. I watched a documentary recently about Apple obsessives who refused to date non Apple users. That's how desperate it is.

Anyway I can only dream of Android. I would prefer to die than suckle on the Apple teat.

Apple and Android aim at two different types of costumers.
If you like to be able to fully customize your phone and are more of a tech geek, then I would go for the Android.
If you prefer a smartphone that's simple and gets the job done, then I would go for Apple.

Apple is smart and have excellent products. Having said that, they've convinced their users to stick with them even though a good windows machine can be used 3 times as long even with multiple os updates.

It's more than just buying tech, it's also fashion and status symbol. I have friends who seem to be buying a new Mac every year just because they want it, not because they need it. That's just fantastic marketing. Bitcoin will certainly be helped by those who are "apple only". Many people are, no need to fight them.

Now you just have to laugh at all the people who smashed their iPhones when they removed the BTC apps ;D

Great way of generalizing. I am an Apple user (iPhone, not Mac) and I don't see any side as a loser. I'm also quite tech-savvy in the sense that I'm full-DIY and do software designing and programming. I can see why some people would prefer Android over iOS, however, these reasons don't apply to me. I just don't see how being tech-savvy relates to what phone you use.

Please don't spoil my sweeping generalisations. I've been carefully honing them over months.

They would probably make sex illegal if they could. But they can't, so it isn't.

What? Not dating non-apple users??
This world has gone bananas.

Anyway, congrats to apple for the marketing!

I jailbroke my iPhone and have had the Blockchain app on it, but this will be a relief.  I don't like having to jailbreak.  As expected, tons of things just stopped working properly.