Apple's War against Bitcoin means they want to create their own Crypto

[GigaCoin]

Another App forced to removed bitcoin from its service:

http://www.coindesk.com/bitcoin-payments-removed-ios-app-apples/

The constant war against bitcoin by apple has convinced me that they are creating their own crypto/digital currency. Probably will be called iCoin or iCash, and will come with powerful branding to promote it. Integration across all Apple OS & Apps very likely. However i doubt it would have any speculative value as the coin's value will surely be fixed by apple

[Blinken]

I wouldn't read too much into it.

Any "corporate citizen" will do the same thing. You have to remember the CEO of Apple now is some "old boy" who flies around in the same jets with the CEO of Citi, JP Morgan, etc. These guys have the same agenda, and that agenda is based on the dollar.

I think you will find a lot more sympathy for Bitcoin in Eastern Europe and Asia.

[Taras]

It will definitely be centralized.

[Qtera]

I wouldn't read too much into it.

Any "corporate citizen" will do the same thing. You have to remember the CEO of Apple now is some "old boy" who flies around in the same jets with the CEO of Citi, JP Morgan, etc. These guys have the same agenda, and that agenda is based on the dollar.

This.  There isn't much innovation in Apple these days. In my opinion, they are just trying to hinder the cryptocurrencies adoption. But that shipped sailed long time ago.

[Bitcoin_is_here_to_stay]

I wouldn't read too much into it.

Any "corporate citizen" will do the same thing. You have to remember the CEO of Apple now is some "old boy" who flies around in the same jets with the CEO of Citi, JP Morgan, etc. These guys have the same agenda, and that agenda is based on the dollar.

This.  There isn't much innovation in Apple these days. In my opinion, they are just trying to hinder the cryptocurrencies adoption. But that shipped sailed long time ago.

I think they are not that stupid. I mostly agree with OP - they are either developing their crypto - or want to sell their support to the highest bidder.

[~Coinseeker~]

Apple getting into math-based currencies could be a flop or a very big deal.  If it's centralized, they'll have the same challenge Google did, trying to gain adoption with their payment network.  However, they could easily tap into their massive user base of phones, tablets and computers to utilize as nodes for a decentralized currency and payment network.  Apple has nearly unlimited funds, so while scoffing at Apple speculation may make some people feel better, the threat is still very real.

[gentlemand]

To me it doesn't feel likely they'd ever bother making their own currency. Too risky, too out there.

It is very likely they'll be coming out with a payment system of some sort for conventional currencies.

[CryptoREI]

Easy way for apple to implement there own crypto is make all app purchases by there own crypto... they will prob be called apples or applecoin so someone hurry up and make some alt coins with those names lol

[cbeast]

Apple isn't secure and they know they would be liable for Bitcoin thefts. That's why they only want reversible payment systems. However, they should support escrow payment apps if they are ever created.

[hlynur]

it was discussed last year in several threads.
apple is already working on it.

Coindesk: Apple to create virtual currency ‘iMoney’

Yesterday, the U.S. Patent and Trademark Organization published a patent application from Apple for – wait for it – iMoney. Apple looks to get into the digital currency game in a way similar to Amazon Coins. The patent is a combination of virtual currency and digital wallet technology. It allows users to store money in the cloud and make payments with their iPhone.

source 1
source 2

i would assume apple would push this service in combination with its ibeacon technology to provide a multimedia shopping service that can be licensed by big companies for their shop chains.

[silidons]

God fuck Apple.  About 5 years ago I had a $50 giftcard from my cousin or something for iTunes and I put it on my account, didn't know what to buy so I didn't spend it.  I didn't touch iTunes for over a year, opened it up one day and the money was gone.  I looked at the transaction history and there were a literally about 100 free app downloads on my account, all of them in chinese, and the first 2 or 3 of them were paid apps and they used my money.  Well I emailed their support, they told me that it was me who got hacked (never been hacked or had anything stolen from me online in my entire life) and therefore they don't owe me the money.  Well I looked up a few articles and there were thousands of users who got hacked by chinese hackers (server side, not client side).  Lolwut.

Sorry for rant.   I say again though, fuck apple.

[theonewhowaskazu]

What is apples incentive for creating its own Cryptocurrency if its just going to peg it to the dollar anyway? Nothing. May as well just create an iPaypal at that point, that way they can reverse transactions if they really want to (which the government will likely force them to do anyway).

And do you really think apple is going to go all fontas on us and create an altcoin?

[hlynur]

What is apples incentive for creating its own Cryptocurrency if its just going to peg it to the dollar anyway? Nothing. May as well just create an iPaypal at that point, that way they can reverse transactions if they really want to (which the government will likely force them to do anyway).

And do you really think apple is going to go all fontas on us and create an altcoin?

i wouldn't call it an altcoin.
E.g. AmazonCoin is more like a token system to buy digital goods.
They try to attract customers with advantages and goodies when using the system.
So if people don't spend their tokens directly after exchange for money, Amazon still has a relative safe profit,
as chances are high that users won't turn their coins back to dollars and value will stay in Amazon's internal system.

thinking further it's like a much improved version of the marketing strategy binding consumers with a bonus points system. (like in supermarkets, gas stations, airlines with bonus miles etc.)
The company can secure a market share of consumers' buying power in advance and gets a credit free of interest everytime tokens stay unspent.

[trustnobody]

this topic is full of rumours, I heard that they are going to make a type of currecny only to use it with apple products, maybe in order to protect it from theft

[cosmofly]

apple for sure will make a currency and will force all apps to adopt it as payment method. alot of websites and games are already using their own currency so why not. It will also be highly inflationary which means if u hold the coins the value will go down, similar to loyalty points that lose value overtime

[DieJohnny]

i now officially hate apple and resent every penny i have spent on that dumb company.

Cook is a f'ing idiot and needs to get fired

[Nathonas]

This topic brings up an interesting thought: What would Steve Jobs do in response to Bitcoin if he was alive? we know he's not a traditional oldboys CEO type - Apple was in the shitter before he came back and introduced a series of innovative products. I think he would support Bitcoin because he was a big fan of innovation.

[glendall]

I really doubt it.

They likely will introduce some sort of their own competitive payment processing system that runs of phone bills or credit cards or what not, but I don't think they would use a cryptocurrency.

[emusizz]

I already change Apple to android.
Apple is nothing beside system easily jailbreak
Apple is selfish. remove real one to copy for their own one

Bitcoin go to the moon

[Phinnaeus Gage]

I wouldn't read too much into it.

Any "corporate citizen" will do the same thing. You have to remember the CEO of Apple now is some "old boy" who flies around in the same jets with the CEO of Citi, JP Morgan, etc. These guys have the same agenda, and that agenda is based on the dollar.

I think you will find a lot more sympathy for Bitcoin in Eastern Europe and Asia.

And I'm sure that them banker fucks hooked Tim Cook up with some hooker (we'll call her Wendy) once, and for their silence, Timmy now has to play by the banker of South Park's rules.

[BTCisthefuture]

I would imagine if apple creates its own currency it will be limited to apple products.  For example, you wont be able to go to the local coffee shop that accepts bitcoin and use your apple coins.   

If that's the case then I don't see it being too big of a deal.

[GigaCoin]

I would imagine if apple creates its own currency it will be limited to apple products.  For example, you wont be able to go to the local coffee shop that accepts bitcoin and use your apple coins.   

If that's the case then I don't see it being too big of a deal.

yep that's what i think would likely happen atleast initially, if successful i don't see what would stop Apple for allowing its coins to be integrated with cloud based POS retail systems. They wouldn't have to develop the POS system themselves, but they can allow their Coin system to be integrated by selling licenses. That would actually make them billions of dollars

[ph111]

  Ive got 2 iPhone 5s and a macbook air going to boycott apple for this bullshit from now on and get others too what should i be using for phones and a laptop what is most user friendly please ? FCUK APPLE

[Luno]

This is difficult for Apple;

Something viral and underground that involves money and is trendy and taking the with storm, but at the same time so unlike the values Apple preaches?

An Apple coin is an anti axiom.

[erik777]

This topic brings up an interesting thought: What would Steve Jobs do in response to Bitcoin if he was alive? we know he's not a traditional oldboys CEO type - Apple was in the shitter before he came back and introduced a series of innovative products. I think he would support Bitcoin because he was a big fan of innovation.

Jobs is the REASON Apple is in the crapper.  It just took years to play out.  

What would he do with bitcoin? he'd ban all bitcoin apps and sue everyone he could that used bitcoin.  That's the type of legacy he started.   I'll remember him for bringing massive IP lawsuits to the tech industry.  

Wozniak, on the other hand, would likely support Bitcoin. 

[DeathAndTaxes]

Wozniak, on the other hand, would likely support Bitcoin. 

So true.  Woz fit right in with the "early Apple".  Hackers building shit in their garage, trying to make something from nothing, and getting laughed at by most of the world in the process.  When Apple transformed into the trendy, hip, "cool kids Apple" Woz stuck out like a sore thumb.

[~Coinseeker~]

Yet in the end, Apple created products that people wanted and still want to buy.  As a business, that supersedes most everything else.

[Timo Y]

it won't be a crypto. there is no need for a blockchain if it is centralised.

[gollum]

Apple don't need a crypto, they already got their App Store which is connected to your bank card.
But they don't like competing payment methods in iOS and that's why they block bitcoin apps.

[64dimensions]

Lets have a little bit of imagination:

1) It makes sense for Apple to have a crypto coin because they can further monetize their hardware/software platforms.

2) This Apple coin concept fits perfectly with their world wide demographics. It would practically be a worldwide crypto currency from the gitgo.

3) Depending on how aggressive they get, they could supply proprietary mining software across all their hardware platforms, including i pads and phones.

4) The Apple coin can't be any worse than a mediocre crap coin. The free market will give it some value. Apple could play all kinds of marketing games.

5) The value of this coin adds to the balance sheet and they basically would get a 1% - 2% bump in profits at some point because the could muscle out all the credit card purchase for their product.

6) The difficult problems are security and solving the problem of basically setting up a parallel foreign exchange trading path, because going from euros to Apple coin to USD or RMB generates a whole new foreign exchange market with the associated financial instruments.

7) Apple would get business for just being an alternate to Paypal.


This is such a good idea that I'm sure Apple could care less what banks and other financial institutions think.

Who ever does this first will essentially be Bitcoin 2.0

[corebob]

This topic brings up an interesting thought: What would Steve Jobs do in response to Bitcoin if he was alive? we know he's not a traditional oldboys CEO type - Apple was in the shitter before he came back and introduced a series of innovative products. I think he would support Bitcoin because he was a big fan of innovation.

He did have crazy visions, at least when he was younger. Something that is rare among career hungry suits and CEOs

[Alley]

If apple started there own crypto coin wouldn't it be huge for bitcoin?  There would be all sorts of comparisons icoin vs. bitcoin...  Is essence everybody would know what bitcoin is by default and gain supporters.

[ArticMine]

Apple's business model is based upon upon censoring freedom of speech, freedom of religion, and basic civil liberties etc and stifling innovation. Bitcoin is just one of the many things and ideas they have censored. Frankly the fact that Apple has censored Bitcoin is a very strong indicator of how disruptive and innovative Bitcoin is. It does not follow however that Apple's censorship means that Apple will create a competitive or alternate to the idea or product they have censored.

The critical thing to understand about Apple is that in many cases no matter whether they chose to allow or censor a particular app in their closed store, Apple will always be in the wrong! because they have no right to be able to make these kind of decisions in the first place.

Edit: Here is an example of a recent case of Apple censorship unrelated to Bitcoin. http://www.pastemagazine.com/articles/2014/02/apple-didnt-want-this-us-drone-strike-app-publishe.html Does this mean that Apple is going into the drone business? I do not think so.

[Bit_Happy]

Another App forced to removed bitcoin from its service:

http://www.coindesk.com/bitcoin-payments-removed-ios-app-apples/

The constant war against bitcoin by apple has convinced me that they are creating their own crypto/digital currency. Probably will be called iCoin or iCash, and will come with powerful branding to promote it. Integration across all Apple OS & Apps very likely. However i doubt it would have any speculative value as the coin's value will surely be fixed by apple

digital currency yes, crypto no
Apple doesn't want or need to be decentralized, they are in charge of their spaces.

[killinitsoftly]

I don't foresee Apple ever creating a Crypto.

I think they have directives from bigger entities than themselves though.

[cheekymonkey12]

It will definitely be centralized.

IMHO Never gonna work.

             the man above said a right thing. Apple is wanting dollars. it must be centralized for them or they will not want it.

[spazzdla]

I think it just shows what apple is like without Steve.  I give them 5 years before they are the new blackberry.

[surebet]

Can someone explain to me why (insert company name here) would ever want to create a cryptocurrency?

[RodeoX]

Apple, hmmm. where do I know that from?
Oh yes, they used to be on the internet or something. Like AOL. 

[leopard2]

anyone using a thing like Amazoncoin or Applecoin should not be allowed to vote or to even reproduce !! 

[tkbx]

No way this would happen. Too inconvenient for their users, too much work to develop, no real benefit for them.

If they did, though, it would certainly be:
a) centralized, or
b) closed-source and backdoored to start a miner botnet

[Dissonance]

I doubt the decision came from cook.  Mostly likely a compliance/ legal decision made from someone at least several layers down from Cook.  I doubt its even on his radar and probably not important enough for the APP store managers to bother him with.