[2014-09-10] CNBC: Is Apple Pay a bitcoin killer?

[bitbouillion]

http://www.cnbc.com/id/101988826

The decentralized Bitcoin network is more efficient, cheaper and secure than Apple Pay and eventually should be embraced by the consumer.

True.

However, just like digital music needed the evolutionary step from Napster to iTunes, so, too, do digital currencies need this move by Apple.

Not comparable this way.

[CoinMode]

http://www.cnbc.com/id/101988826

The decentralized Bitcoin network is more efficient, cheaper and secure than Apple Pay and eventually should be embraced by the consumer.

True.

However, just like digital music needed the evolutionary step from Napster to iTunes, so, too, do digital currencies need this move by Apple.

Not comparable this way.

Obviously the correct comparison is Napster giving way to Torrent. Now we have centralized digital money, like Apple Pay, Liberty Dollars, and eGold giving way to Bitcoin. That is a perfect comparison in every single way.

[dwdoc]

Unfortunately, the better analogy is probably that Napster was replaced by both iTunes and BitTorrent with subsequent far more downloads occurring on iTunes (Apple Pay?) per minute than BitTorrent (Bitcoin?).