You'd better sell when APPLE competes with bitcoin..

[toinew]

Apple is going to release a mobile payment system, secured with touch ID, and with VISA and American Express.
In other words, it will make the transaction much faster and much more secure.
And that my friends, is a threat to bitcoin

edit: source: http://www.cnet.com/news/apple-amex-teaming-on-iphone-6-payments-system-report-says/

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[hd060053]

centralized, close this useless thread.

[bananaControl]

Fiat issued by huge non-transparent centralized entities wrapped in Apples walled garden? I think I'll pass...

[HarHarHar9965]

centralized, close this useless thread.

To be fair, at this time, one of the principle uses of bitcoin is to send/spend money instantly. Anything that makes doing that simpler, faster and more convenient is relevant. A product/app/etc does not have to do everything that bitcoin potentially can to be relevant.

And, ahem, the bitcoin network is quite centralized. I hate to break it to you.

[ensurance982]

centralized, close this useless thread.

Well those are comments that make me think and realize how narrow minded a lot of Bitcoin proponents are. This forum really tends to become an echo chamber sometimes! This is a threat, because it is a user-friendly and simple system, that's much more likely to be accepted by the broad public!

[Mellnik]

Hope nobody's going to fall for Apple shit.

[bananaControl]

To be fair, at this time, one of the principle uses of bitcoin is to send/spend money instantly.

Wake me up when apple makes an open decentralized trust less system where non apple users in the US can send money to non apple users in Iran instantly with a very short confirmation time, without the possibility of any government to stop it. A system that will survive even the death of Apple itself. Until then, meh.

edit
Also, a system where Apple isn't skimming the top.

And, ahem, the bitcoin network is quite centralized. I hate to break it to you.

Compared to an apple server center, that statement is a pure joke. I think it is safe to say that the US gov will have some kind of stop button on transactions they don't like, and access to all personal information of the users. So, yeah.

It will be shiny and easy to use on the outside, and there will surely be many things regarding usability to learn from it, but in the end it is nothing but a pig with lipstick. In the short term there will also likely be many apple users buying new apple products and latte with it, but in a greater picture this apple system will be nothing truly revolutionary and interesting.

[bananaControl]

Hope nobody's going to fall for Apple shit.

Oh, many will.

[inca]

It is a threat to bitcoin. But it will get the great unwashed used to the concept of using their phone as a wallet. It could end up bringing more users into the bitcoinsphere.

[abercrombie]

NFC, androids had it for years so finally Apple is ready to compete.

Has nothing to do with Crypto adoption.

[HarHarHar9965]

Wake me up when apple makes an open decentralized trust less system where non apple users in the US can send money to non apple users in Iran instantly with a very short confirmation time, without the possibility of any government to stop it.

In theory, that's great. I highly doubt this represents even tiny minority of transactions. So let's talk about what's really relevant. Again: "A product/app/etc does not have to do everything that bitcoin potentially can to be relevant."

And, ahem, the bitcoin network is quite centralized. I hate to break it to you.

Compared to an apple server center, that statement is a pure joke. I think it is safe to say that the US gov will have some kind of stop button on transactions they don't like, and access to all personal information of the users. So, yeah.

It will be shiny and easy to use on the outside, and there will surely be many things regarding usability to learn from it, but in the end it is nothing but a pig with lipstick. In the short term there will also likely be many apple users buying new apple products and latte with it, but in a greater picture this apple system will be nothing truly revolutionary and interesting.

The point is that calling bitcoin decentralized or trustless at this point is premature, if not entirely inaccurate.

And don't you see? "Shiny and easy to use on the outside" is exactly what most consumers want and what bitcoin cannot offer at present. Get over it -- bitcoin is a niche. You want to go mainstream or not?

[cypherdoc]

and yet Apple opened it's app store to Bitcoin wallets, haha.

and still losing market share to Android:

http://tr1.cbsistatic.com/hub/i/r/2014/03/20/23b321bf-04e4-4840-9c74-82122008a165/resize/620x485/eac3a1e203aeb2861c64265fd4d13ab2/Android.iOS.MS.png

[PenAndPaper]

Should i sell my car also? I think the new payment system will compete not only with bitcoin but with my car as well.
What do you guys think? I mean it's APPLE...  

[bananaControl]

And don't you see? "Shiny and easy to use on the outside" is exactly what most consumers want and what bitcoin cannot offer at present.

Sure, and that is probably where the bitcoin eco system can learn a thing or two from Apple and their future system. There is no shame is borrowing great ideas, Apple do it all the time too. If Apple decides to make a true crypto currency that they can't control in any way, I would be all for it, but that is highly unlikely since their nature is to skim the top and have full control. It is simply fundamentally against everything that Apple is
, to be open, free (not as in gratis) and not in control.

The point is that calling bitcoin decentralized or trustless at this point is premature, if not entirely inaccurate.

And don't you see? "Shiny and easy to use on the outside" is exactly what most consumers want and what bitcoin cannot offer at present. Get over it -- bitcoin is a niche. You want to go mainstream or not?

Of course people want a system that is shiny and easy to use, but there is no reason why that can't be bitcoin in the future. On top of that bitcoin will offer things that Apple will never want/be able to offer with their system.

But yeah, in the short run it sounds highly likely that Apple will take a leading role with their online payment system, but it will never be nothing more than a better Paypal.

[counter]

I'm not saying it's not a threat but you have to wonder what prompted this move..(Bitcoin).  I think if Bitcoin developers continue to make Bitcoin more more adaptable and simplistic this Apple news wouldn't be so "big".  That is a simple way to attract users and compete with the likes of Apple.  I don't really think Bitcoin is very far from being able to consider development for the end user who has no interest in the nuts and bolts of cryptology when making a transaction. Applications that are easy to use for the general public and mobile is what is needed, just needs more  something like this could be a minor setback from a big picture perspective..  Once people can see how Bitcoin works they would have real incentive to learn the inner workings of the technology but not beforehand in my opinion.

[Swordsoffreedom]

centralized, close this useless thread.

Apple banned Bitcoin once, they put it back in their app store after a few guns were shot
I'm not too concerned about this mobile platform bitcoin will still remain a strong competitor.

But it won't be long now Sept 9 is soon.

Apple is partnering with American Express, Visa, and MasterCard on a mobile wallet system expected to be introduced with the iPhone 6 on September 9, according to two different reports.

[Wilhelm]

Smart move by Apple even though I hate Apple.
Problem is that they will need to work together with banks or get a bank license themselves.
Bitcoin will survive because it will remain more anonymous.

Apple would do better if they create bitcoin integration and take commission on each transaction applehipsters make.

[vuduchyld]

I have never purchased an Apple product and I strongly suspect I never will.

[Vrontis]

I am not afraid of Apple, I am afraid of the people that using their products !

https://www.youtube.com/watch?v=pZcIa_lGCZg

[World]

This Chain’s iOS API and app looks interesting.
http://www.coindesk.com/chains-api-lets-sign-bitcoin-transactions-fingerprint/