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Author Topic: Apple Digital Credits Patent  (Read 2459 times)
niko
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February 08, 2012, 02:52:18 AM
 #21

With all things said in this thread so far, what would be a realistic scenario where Bitcoin network is damaged by Apple Inc.? Right now I can't come up with one.

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Your mining rig is on fire, yet you're very calm.
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February 08, 2012, 04:59:26 AM
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Facebook has clearly been using digital credits already, so it could be considered prior art, and may invalidate Apple's patent.

The patent was from 2006 though =/

Seems a wildly broad patent - it'd have ramifications far wider than Facebook.

Not only is it a blatantly obvious application, it is what micropayments-for-porn systems were already doing long before 2006, isn't it?

By media do they mean the physical substrate the data is written/drawn/depicted on or are they somehow taking media to mean the information encoded on/in media?

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February 08, 2012, 06:15:13 AM
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Since litigation has replaced merit in the marketplace of ideas, it follows that bribery will replace jurisprudence in the courtroom. I suspect that hidden partitions and darknets will be the only freedom and hope for justice.

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February 08, 2012, 07:16:17 AM
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Since litigation has replaced merit in the marketplace of ideas, it follows that bribery will replace jurisprudence in the courtroom. I suspect that hidden partitions and darknets will be the only freedom and hope for justice.

Or we can abandon the counterproductive capitalism religion and start acting rationally.

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February 08, 2012, 11:25:49 AM
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Since litigation has replaced merit in the marketplace of ideas, it follows that bribery will replace jurisprudence in the courtroom. I suspect that hidden partitions and darknets will be the only freedom and hope for justice.

Or we can abandon the counterproductive capitalism religion and start acting rationally.

A good start would be to recognize social and natural capital and stop trading them for things which can be created without limit at almost no cost. 
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February 08, 2012, 12:35:07 PM
 #26

With all things said in this thread so far, what would be a realistic scenario where Bitcoin network is damaged by Apple Inc.? Right now I can't come up with one.

Realistically, they could not shut down Bitcoin itself, but they could sue merchants that tried to adopt it as a payment.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
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Let's talk governance, lipstick, and pigs.


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February 08, 2012, 01:04:12 PM
 #27

With all things said in this thread so far, what would be a realistic scenario where Bitcoin network is damaged by Apple Inc.? Right now I can't come up with one.

Realistically, they could not shut down Bitcoin itself, but they could sue merchants that tried to adopt it as a payment.
That's a good reason to move media services to outside the USA.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
DeathAndTaxes
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February 08, 2012, 01:40:26 PM
 #28

With all things said in this thread so far, what would be a realistic scenario where Bitcoin network is damaged by Apple Inc.? Right now I can't come up with one.

Realistically, they could not shut down Bitcoin itself, but they could sue merchants that tried to adopt it as a payment.
That's a good reason to move media services to outside the USA.

Well based on the patent (even as vague and likely reversable as it is) I don't see how it could have any bearing on Bitcoin.  If anything Bitcoin would be the one technology businesses SHOULD adopt if Apple tried to start enforcing this.

Simple version of apple's patent is micro-transactions have prohibitively high transaction costs, so we have user buy credits (single transaction cost from fiat -> credit), then we use a more efficient system for individual purchases credit -> media. Bitcoin doesn't need credits because the transaction cost is free (or at worst in the future very low).  Given consumers tend to hate buying "credits" using Bitcoins over some patented (as dubious as it is) credit system is a competitive advantage.

One example would be mp3s.  Credit card companies have reduced their rates but still make about $0.15 per $0.89 mp3 sold.  Using Bitcoin someone like Amazon could have a transaction processing cost of maybe $0.01 (including exchange fees).  If they were willing to take half the profit margin (about $0.10) they could undercut Apple by $0.20 more.  

ITunes (w/ fiat CC) - $0.99  
Amazon (w/ Bitcoin) -$0.69

The awesome thing is that Amazon couldn't do it without Bitcoin so maybe they have two pricing options. $0.99 per Song by Credit Card or $0.69 per song by Bitcoin.  Imagine what that would do for adoption. Smiley

Now I don't think Amazon will adopt Bitcoin any time soon but it shows the potential and the futility of Apple's patent (even if it was enforceable).
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