Bitcoin Forum

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I heard on TV this morning that Apple had a huge quarter, selling LOTS of iPhones.  I also have been seeing retailers here-and-there accepting Apple's payment system.  Unfortunately I know nothing about Apple's new system

Apple's payment system seems to catching on!  What kind of risks does AAPL provide re Bitcoin's ecosystem?

Once one "new thing" catches on big, that first mover has a tremendous advantage.  First player advantage.  

Will BTC lose to Apple?

I think Apple pay will remain for awhile but not pose a single threat to Bitcoin.

Every computer I have at my house can run Bitcoin, all my phones, tablets etc. Only iPhones/iPads and Mac computers will be able to use Apple pay.

Bitcoin is open source, which means it will run on any device in the future which has specifications sufficient. For Apple pay to catch on everyone will need to adapt to using apples quickly aging devices, when was the last time their phones innovated?

I think Android device adoption is higher than iOS which means the majority of all handheld devices will not be able to use Apple pay. Why would vendors/investors and the likes build any infrastructure that cant be used by everyone in the world.

ApplePay uses NFC (http://en.wikipedia.org/wiki/Near_field_communication).  Some Android phones have NFC, various credit cards, smart cards etc also have NFC.  ApplePay is roughly just scanning your credit card into your phone, then using NFC to share a different pseudo-credit-card-number with another NFC device at checkout, for example.  This protects your real number so even if a store's systems are hacked, they can't use your number.

You could use a bitcoin wallet App to share keys over NFC to spend bitcoin (depending  on the device, whether the NFC API was public etc) whether the merchant accepted bitcoin etc.

Apple Pay is essentially Apple's branding of NFC with their software to protect your credit card info. (Debit too, iirc).

Here is a bit more:
http://www.cnet.com/how-to/how-nfc-works-and-mobile-payments/

They're both payment processors but also completely different. Apple pay is just another way to transact fiat and is centralized whereas bitcoin is decentralized and a revolutionary system all by itself. Sure, applepay may have many more users but that's not the point and bitcoin has many other benefits than just being a payment processor.

Bitcoin wins ofcourse .
ApplePay is just another payment method to transfer money around and and it's centralized , It's far away from being a threat for Bitcoin.

The first 1 into the market is not always an advantage. Often others will see the mistakes made by the first 1 and improve on it.
Remember Apple and Microsoft?

Oh, look, you can buy credit card numbers on the internet, scan them into ApplePay, and go on a spending spree with your phone. Whee!

Just another walled garden. A huge, successful, powerful walled garden...just like AOL was. Just another extra middleman workaround. Next battle is Alibaba versus Amazon, gee who do I think can give better prices, the middleman or the guy who actually manufactured the thing? It's about the end points.

AliPay is non-repudiable. They got refused a banking license in China however, a big political deal. China Mobile is putting RMB on a SIM card with global roaming. This stuff it gettin' real

This is like saying:
Now that the microwave has been invented, will everyone throw their stoves on the curb for the garbage man?

Apple Pay poses little to no thread to BTC whatsoever

haha, i like that, and share the same thoughts.

K.

BTC will win apple pay will lose and adopt BTC payments no doubt in the future.

Whenever you see a merchant accepting apple pay, ask them if they accept bitcoin. If they say no, then walk away in front of them.
Do that every week . ;)

Id be more direct and say ok so your accepting apple pay, so you must hear do Bitcoin why not accept that and have less fess to worrie about and turn the chunk on and take a chunk out of apples book like MS did and give them an infomation pack good way to promote BTC too lol

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crazyearner and thompete !!

I tried that once at Starbucks, and got that priceless combination of befuddlement and "what planet are you from" look from the ignorant wanker...

And, alas, the cashiers at our only local supermarket are no better.  They take Apple Pay though.

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Thank you to all of you above!  Although no expert, I am learning as fast as I can about Bitcoinistan™, and I do have a dog in this hunt.  Since my "cost basis" is still higher than BTC's current price, I guess I should buy some moar BTC.

And tuck 'em away in my Trezor and Ledger!

:)

Apple pay just makes it easier to use your credit card right? Btc is very different/

Nearly every store in Australia has payway.  Tap your debit and credit card and move on.  Apple pay would be slower than this anyway.

Can you receive money with Apple Pay?

Bitcoin wins.

Maybe Apple Pay will integrate Bitcoin as a payment option down the track? :)

Big chance yeah , why not ;D
If you can't beat them (Apple cant beat bitcoin) , join them (Apple join bitcoin world).  ::)

Apple made more money in the last quarter than any other public company in history - enough money in the last 3 months to buy every person in the USA 1 iphone6 at retail price! holy hell :-s

but in the long term BTC is still on a better position as this NFP system is just an extension of the current status quo system progressing towards a BTC like system. BTC has many more and better features and is way more future proof.

plus im sure that someone will find a nasty hack soon for nfp on iphones causing panic and mistrust in the system :p (not that i wish people to lose their money, but theres no way id trust iphone nfp unless its been safely used (tested) for several years first.

it also gets people used to the idea of paying for things in this type of way, so people would probably use the iphnfp system for a while then would be more prepared/trusting of btc systems in the future.

It's two different playing field. One a payment system and another a currency. So no matter what bitcoin will always have a certain level of advantage which apple pay will not be able to grab hold on.

SendChat already thought of that

https://bitcointalk.org/index.php?topic=880647.0

If you want to use Apple Pay, you need to get their ridiculously overpriced phone or a apple watch(not yet released) etc. Not everyone have money to afford these, you can use a cheap $100 phone to use Bitcoin with much much lower fees. A card with paywave/paypass compatibility could easily be as convenient as apple pay.

If anything Apple Pay will introduce mobile payments as an accepted medium, which is good for Bitcoin.

Once paying on your cell phone is the norm, BTC latches onto all Android phones (which nearly double or triple iPhone marketshare), and dominate the market.

So bring it on Apple Pay.   ;D

You have to give credit to Apple to have that "black magic" used when using technologies that existed before but which no one spoke about and turn them into things for mass use.

If this really happen, this will be great for BTC, its popularity and help us spread to many millions people in the world.
Hoping the best :)
After Apple I'm sure many other ''big'' companies will follow.
This can also help that price of BTC start to rise again.

So true, what have they actually invented in the last few decades...
Apart from itunes (notaware of any other online music store before that), but its still a horrible program.
 
Did they come out with the first fully touch screen smart  phone maybe?

Apple Pay is not inteded to be an widely accepted payment system, because it's tied to no more than 11.7% of smartphones market share. On the other side, Bitcoin can run in iOS, Android and BlackBerry. So, who has more potential?

So, if there is some competitor here, it's not Apple Pay. It's Google Wallet.

I hadn't thought of this. Maybe they could implement paying with bitcoin at some point too? They can still take their cut and after all bitcoin still needs payment processors and having Apple involved would be great for adoption, though I can't really see Apple dealing with bitcoin sadly but we can hope.

There is zero way the apple payment system will catch on. It's locked into a small percentage of the smartphone ONLY marketshare, not usable on computer or anything else, and there are some countries where iphones are not possible to obtain and too expensive to afford. The reason bitcoin will surpass it is becasue it is not locked to any device, and it can be developed for any new device and not locked or controlled by a centralized entity. There is no comparison between the two.

It would be a real pain in the ass to accept payments through Apple Pay

http://www.businessnewsdaily.com/7230-how-to-accept-apple-pay.html

I don't think that Bitcoin will "loose". Apple Pay is just another payment system and has nothing to do with how Bitcoin works. Apple Pay is under centralized control, Bitcoin isn't.

Correct me, if I am wrong, but is Apple Pay not just putting your credit card data on your iPhone.
Seriously, that is the innovation Apple does nowadays?

I have to agree here. Apple Pay is a completely different animal.

Apple Pay "potentially" be safer than normal credit cards, if someone gets your credit card, they can easily steal your funds in the card. With apple pay, they need to first authorise the payment with a fingerprint although it won't be alot more safer since the fingerprint sensors is pretty bad. Some sources cited that lower fees would be incurred if apple pay is used to purchase the product.

Why do people still believe a fingerprint is a good password? A thief might even be able to get a fingerprint from the iPhone itself.
That is no security at all.

Most probably because apple pay could be used with more convenience as no pin would be needed. If you lose your phone, I believe there is a place to delete the card info. IF you are fast enough before the hacker exploit the phone (http://www.cnet.com/news/apples-touch-id-still-vulnerable-to-hack-security-researcher-finds/).