Bitcoin Forum

Read this: http://www.coindesk.com/apple-to-create-virtual-currency-imoney/

What do you think?? I think they should thread really carefully with this. They block bitcoin related apps in App Store and then they go and do this.

I am an Apple fan and have some apple products but this..... Well. Not sure...


What do you think?



TAB

Duplicate thread: https://bitcointalk.org/index.php?topic=227917.0 (https://bitcointalk.org/index.php?topic=227917.0)

Ah Copy.

My bad. Good to see someone following up.!  :P

Holy shit

That's the worse news for Bitcoin this year so far

Whatever they create will be technically inferior, but instantly 10X more popular than Bitcoin.

Really bad news.

Apple does as much patent trolling as anyone so I easily see them leveraging their somewhat ambiguous patent as tool to shut down competing payment processors.

Not to mention, if they do follow through with it,  the hordes upon hordes of Apple fans who'll buy anything they sell because it's a style statement will end up perhaps negatively affecting Bitcoin's popularity.

Very True.

Whatever they create will be technically inferior, but instantly 10X more popular than Bitcoin.
[/quote]

Not if bitcoin starts a high level, professional marketing campaign slamming these new corporate currencies, showing its strong properties.... which are, 1hr transaction times, security weakness, technical.,

 WE KNOW WE ARE GOING TO SEE MORE corporate currencies.


Keep holding your precious bitcoins, and whatver you do not spend them, dont tell anyone you own them... Fuckin idiots some of you are if you think bitcoin will win in the face a mega titans like aapl without competing with marketing.

In the next 1 year not only apple will try to release a currency of their own.

One thing is for sure. However wants to build a serious digital currency has to make sure that there is no dependency on any institution etc

Who would take a currency for granted that what be gone if the underlying company is gone too? A currency that relies on the fate of a stock price wont be able to succeed.

Decentralisation and therefore trust is requirement for every currency that wants to be taken seriously.

In other words i dont want to own a currency that advances and declines inline with apples stock price.

it doesnt have a blockchain.. so its just another world of warcraft gold/facebook credit/amazon coin...

created out of thin air and centralised.. not really a threat to bitcoin just a way to reduce international licence fee's by doing all of their FIAT transactions from one office and use the other international offices for their special coin transactions.

plus only really useful for itunes customers.

so not really a new economy creator either

Basically this.  Unless we're trying to say that giftcards are the new Bitcoin killer, there's no point in flipping out.

Not at all a threat to bitcoin because I'm guessing it won't be able to do many of the things bitcoin can do.


I bet it will be a "virtual currency" that you can only use on Apple apps and maybe iTunes music.
It will probably be pegged to the dollar.
You probably won't be able to trade it back for dollars.
You probably won't be able to give it to other people.

It is actually good news because it might bring more press to Bitcoin.

Apple hasn't done anything innovative since Steve Jobs died and I doubt it will start now.

Not a threat to bitcoin. Calling it a "currency" is a bit of a stretch. Like "Amazon Coins," it's basically an Apple giftcard.

But wopwop's reaction was just hilarious. Dude you need to take a chill pill if Apple Gift Cards look like the "worst threat to bitcoin this year."

Welcome to my ignore list. Muppet. Muppets.

I'm reading down the responses and was amazed it took so long for someone to mention the idiot. lol. wtf....

http://watchitdude.com/images/119idiot.jpg

Leave it to the Patent whores to try and steal the spotlight. I am glad the Bitcoin community is not involved with Apple. Let them spend their millions on creating more terribly restricting products and stolen designs. BTC belongs in the open source community and the two communities are doing well to build each other up. We'll all just point and laugh as the iMoney (or digital monopoly money) falls with the other fiat currencies.

Soon bitcoins will violate some patents and government will use it to shut it down but can't.

Not a threat at all, for one thing people would not be able to trade imoney, it has to be pegged to USD, so it will go up and fall with it. And no merchant will accept something Apple can basically just "print".

Help the BTC cause by signing this petition : https://www.change.org/petitions/apple-allow-bitcoin-wallets-on-the-iphone

Maybe small chance to succeed, but it worth the seconds needed to sign !

At a higher abstraction level, everyone with some valueable asset could issue some money that is backed by that asset

The problem is that no one oversee how much money they issue, and no one knows if those assets are kept intact. Besides, those money could only be used to redeem their asset, thus do not have the universal equivalence property

And forget about apple, Iphone5 has proved that after Jobs left, no one can create something that has Apple's spirit, and this market is already very saturated

Of course it's just another 'gift card', or are you telling me that Apple will somehow allow you to get their coins, wait for the price to go up, then come back to buy their products at 1/3 the price?

Their coin is a threat to bitcoin exactly like iOS is a threat to Android: Android is kickassing iOS  ;)

Please somebody launch a new trash-fork alt currency AppleCoin  ;D

why do you need apple bitcoin wallet, better off with some online wallets.

Imagine having to download blockchain over 3g :)

why does apple need a patent for just another "gift card"?  this has to be something big.

some people here are underestimating apple's plans and overestimating bitcoin's invulnerability.

do not forget, apple has been hoarding cash and has over 100 billion usd in its war chest.

Apple will go the way of the Blackberry in 18 months.