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Author Topic: Death of Bitcoins made by Apple?  (Read 4742 times)
pawel7777
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September 02, 2014, 08:27:04 AM
 #21


If you have a credit card then you do not need decentralisation, same with controlling your funds because the credit card company is actually lending you money. You can generally use a credit card anywhere in the world. If you pay in bitcoin then you will need to trust the merchant you are buying from as you cannot reverse the transaction.

The main selling point that bitcoin has above credit cards is the cost of accepting/processing credit cards. Since the cost is lower when paying in bitcoin, merchants are likely to pass along these savings to the consumer.

I don't think you understand the importance of BTC being decentralised and trust less. Long story short, if you trust banks/credit card companies/financial institutions more than you trust yourself, then yes, the main benefit for you would be low tx fees.

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wasserman99
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September 04, 2014, 06:49:57 AM
 #22


If you have a credit card then you do not need decentralisation, same with controlling your funds because the credit card company is actually lending you money. You can generally use a credit card anywhere in the world. If you pay in bitcoin then you will need to trust the merchant you are buying from as you cannot reverse the transaction.

The main selling point that bitcoin has above credit cards is the cost of accepting/processing credit cards. Since the cost is lower when paying in bitcoin, merchants are likely to pass along these savings to the consumer.

I don't think you understand the importance of BTC being decentralised and trust less. Long story short, if you trust banks/credit card companies/financial institutions more than you trust yourself, then yes, the main benefit for you would be low tx fees.
If you use a credit card to make a purchase the bank is trusting you with their money, not the other way around. You don't need to trust the bank in any way by paying via a credit card as you have the ability to make your payment in cash, and if they say you owe more then you really do then you can not pay the bill.

pawel7777
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September 04, 2014, 01:32:25 PM
 #23


I don't think you understand the importance of BTC being decentralised and trust less. Long story short, if you trust banks/credit card companies/financial institutions more than you trust yourself, then yes, the main benefit for you would be low tx fees.
If you use a credit card to make a purchase the bank is trusting you with their money, not the other way around. You don't need to trust the bank in any way by paying via a credit card as you have the ability to make your payment in cash, and if they say you owe more then you really do then you can not pay the bill.

What money?? The one they've created out of thin air, but are secured against your income/assets, often with changeable %rates?
Are you saying that it's better to take a loan to buy something than use the funds you own (since it's "trust less" and bank take all the risk)?

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September 04, 2014, 01:35:29 PM
 #24

But.. it's still in the ever falling Fiat currencies.
JLynn171
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September 04, 2014, 01:36:13 PM
 #25

so basically just linking your idevices to credit card and paying through there??? I think this is basically same as paypal or the mobile card swipers allowing anyone to take credit card payment from cell phone (except a step up)..... not sure if it will effect bitcoin or not
wunkbone
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September 04, 2014, 01:43:22 PM
 #26

Apple should use bitcoin for this instead, it would be better...

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JLynn171
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September 04, 2014, 01:55:07 PM
 #27

Apple should use bitcoin for this instead, it would be better...

I think one day a BTC revolution will come and all the 7/11s starbucks subways mcdonalds and alll these other corporate chain stores will soon take bitcoin at their counters, but until that day i dont think many people unless they are somewhat techy nerds/drug addicts/gambling addicts will even have a clue what bitcoins is... i dunno maybe im being prejuidice against the btc community but i know i fall in those categories
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September 04, 2014, 02:09:24 PM
 #28

Apple should use bitcoin for this instead, it would be better...

+1 I want to say the same thing !  Smiley
BTW, this is the worst title ever encountered on the forum.

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MoonRise
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September 04, 2014, 02:55:56 PM
 #29

What?Unrelated topic heading and post.Bitcoin is not gonna die eventually if it dies too.They have to seize every single coin from users around the world.Fuck me if that's even possible so easily
Mybitcoinz
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September 04, 2014, 03:23:18 PM
 #30

Bitcoin isn't dead now and won't be dead in the near future, the only thing that can kill btc is another coin with superior features, but not Apple.

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September 04, 2014, 07:46:00 PM
 #31

If anything I hope news like this will only make Bitcoin better.  I respect the move on the part of Apple, Visa and Mastercard.  When it comes to Bitcoin however I"m not worried.
BCEmporium
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September 04, 2014, 10:45:05 PM
 #32

You are saying that Apple is coming with a new PAYPAL and are afraid it to be concurrence for BITCOIN?

Centralized payment systems attached to Credit Cards, you have thousands of them. Apple is just another one.
wasserman99
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September 04, 2014, 10:48:49 PM
 #33


I don't think you understand the importance of BTC being decentralised and trust less. Long story short, if you trust banks/credit card companies/financial institutions more than you trust yourself, then yes, the main benefit for you would be low tx fees.
If you use a credit card to make a purchase the bank is trusting you with their money, not the other way around. You don't need to trust the bank in any way by paying via a credit card as you have the ability to make your payment in cash, and if they say you owe more then you really do then you can not pay the bill.

What money?? The one they've created out of thin air, but are secured against your income/assets, often with changeable %rates?
Are you saying that it's better to take a loan to buy something than use the funds you own (since it's "trust less" and bank take all the risk)?
A credit card loan is secured by nothing more then your reputation. If you are able to pay off your balance every month then you will generally not pay any kind of fee for using it. The money you borrow when you use a credit card is borrowed by the bank from it's bondholders and depositholders.

When you use bitcoin you need to trust that the person selling you whatever goods/services is going to give you such goods/services after you provide payment. With credit cards you do not need to give any such trust (you can dispute the charge if you do not receive the goods).

The benefit of using bitcon vs using a credit card is the fact that it is cheaper and less risky for the merchant, which should mean lower prices for you (the consumer).

beetcoin
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September 05, 2014, 03:18:40 AM
 #34

Apple should use bitcoin for this instead, it would be better...

that is completely against everything that apple is about. they like to control everything and forcefeed you what you like or don't like.. plus you can make more money that way.
pawel7777
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September 05, 2014, 06:41:18 AM
 #35

A credit card loan is secured by nothing more then your reputation.

So if I don't pay my debt, they're not gonna go after my assets, they're not gonna seek any repayment, only my reputation will suffer? Interesting. Which country is that?

The money you borrow when you use a credit card is borrowed by the bank from it's bondholders and depositholders.

http://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity

Quote
In other words, everything we know is not just wrong – it's backwards. When banks make loans, they create money. This is because money is really just an IOU. The role of the central bank is to preside over a legal order that effectively grants banks the exclusive right to create IOUs of a certain kind, ones that the government will recognise as legal tender by its willingness to accept them in payment of taxes. There's really no limit on how much banks could create, provided they can find someone willing to borrow it. They will never get caught short, for the simple reason that borrowers do not, generally speaking, take the cash and put it under their mattresses; ultimately, any money a bank loans out will just end up back in some bank again. So for the banking system as a whole, every loan just becomes another deposit. What's more, insofar as banks do need to acquire funds from the central bank, they can borrow as much as they like; all the latter really does is set the rate of interest, the cost of money, not its quantity. Since the beginning of the recession, the US and British central banks have reduced that cost to almost nothing. In fact, with "quantitative easing" they've been effectively pumping as much money as they can into the banks, without producing any inflationary effects.


When you use bitcoin you need to trust that the person selling you whatever goods/services is going to give you such goods/services after you provide payment. With credit cards you do not need to give any such trust (you can dispute the charge if you do not receive the goods).
Actually, you do. You wouldn't willingly submit your cc details on the fraudulent site. Also, in some cases, you have to TRUST that the bank will issue the chargeback:

Quote
Chargeback v Section 75
You may have already heard of Section 75 of the Consumer Credit Act, a legal consumer protection that requires credit card providers to refund customers for faulty goods and broken merchant promises.

 Chargeback, however, comes into play when Section 75 doesn't apply -- if the goods cost less than the £100 threshold required for Section 75, for example. Plus, unlike Section 75, chargebacks apply to purchases on debit as well as credit cards. Some card networks, including Visa and MasterCard, cover prepaid cards under their chargeback schemes as well.

 However, in contrast to Section 75 (which is secured by law), chargebacks are a voluntary scheme adopted by the card networks. That means they don't create the automatic joint liability on the card company in the way that Section 75 does. The chargeback process is not as well-known by bank staff either, so if you have trouble progressing your claim it's worth asking to speak to a manager.
http://uk.creditcards.com/credit-card-news/chargeback-can-get-your-money-back-1367.php

BCEmporium
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September 05, 2014, 07:34:43 AM
 #36

Apple should use bitcoin for this instead, it would be better...

that is completely against everything that apple is about. they like to control everything and forcefeed you what you like or don't like.. plus you can make more money that way.

Not quite, they usually pick a thing that already exists but wasn't a success, or at least not yet, rebrand it and add a bitten apple logo to it. Then they let the fanboys do their magic...
azguard
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September 05, 2014, 08:45:29 AM
 #37

Apple should use bitcoin for this instead, it would be better...

that is completely against everything that apple is about. they like to control everything and forcefeed you what you like or don't like.. plus you can make more money that way.

Not quite, they usually pick a thing that already exists but wasn't a success, or at least not yet, rebrand it and add a bitten apple logo to it. Then they let the fanboys do their magic...

Apples way exactly. That how they make more money and they continue on doing this for long time.



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flyingcatt
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September 05, 2014, 06:23:38 PM
 #38

Apple is done, they are running out of ideas, the iWatch thing is going to suck lol.
jjacob
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September 05, 2014, 07:07:45 PM
 #39


Apple should use bitcoin for this instead, it would be better...

that is completely against everything that apple is about. they like to control everything and forcefeed you what you like or don't like.. plus you can make more money that way.

Not quite, they usually pick a thing that already exists but wasn't a success, or at least not yet, rebrand it and add a bitten apple logo to it. Then they let the fanboys do their magic...

Not to mention jack up the price to unbelievable levels.

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bitcoboss
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September 05, 2014, 10:13:50 PM
 #40

soon there will be a thread with a topic 'death of Apple made by Bitcoins'
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