ApplePay doesn't solve this. [US DOLLAR vs BITCOIN super simple visual]

[colinistheman]

I think this image sums up why ApplePay is NOT going to replace Bitcoin.

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[Beliathon]

You're right, the president's head keeps inflating to ever-larger sizes! This situation is totally unsustainable!!

[colinistheman]

Haha I never noticed that. They'll need bigger paper soon.

[BitCoinNutJob]

Didn't need that image to know myself filling a shopping trolley price has gone up dramatically even over the past few years.  Best thing to do is time your shop when the supermarkets offload the most reduced products.

[yayayo]

You're right, but most people don't care about inflation - they don't even realize its existence. The majority does not consider the effects of inflation on savings. Also, ApplePay is built to offer an easier way to spend money, it's not a savings account. That said, I doubt you'll be able to convince ApplePay users to switch to Bitcoin, because they don't even see inflation as a problem.

That will change when inflation accelerates (eventually reaching hyperinflation) and becomes an important factor to consider in purchase decisions. Then a lot of people will regret not having bought Bitcoin.

ya.ya.yo!

[Eotnak]

yup, I hear all the time when someone sells something on craigslist or feebay, "I sold it for the same price that I bought it for, and that was 20 years ago"  and they think they made out.

[Klestin]

Inflation is an issue, but the image is absurd. Items costing $20.00 in 2013 would have cost $13.99 in 1998.

[redsn0w]

http://www.janethull.com/healthynews/wp-content/uploads/2013/06/Inflation.jpg

I think this image sums up why ApplePay is NOT going to replace Bitcoin.

Very very great reflection , and you're right : applePay isn't replace bitcoin ... BITCOIN  replaces applePay  .

[Lauda]

I think that majority of people just complain in their free time. You can never please everyone.
I have not considered even looking at ApplePay. After all it has 'Apple' in it, a company which enjoys sitting on a ton of cash and enjoys 80% profit margins.
They really care about the consumer. 

[jcoin200]

oh thats right, BTC solves this! haha!

[colinistheman]

^ lol.

Except your image should say "volatility" instead of "inflation"

[seriouscoin]

Alot of ppl didnt even realise the real inflation rate. They usually just take what ever the rate central banks said in public.

In 2000, a bag of milk (3L) cost $2.50, today the same bag cost $4.30

[colinistheman]

jcoin200:

I hope you don't mind, I loved your idea so I ran with it and modified the OP post image.

[jcoin200]

jcoin200:

I hope you don't mind, I loved your idea so I ran with it and modified the OP post image.

Haha thats great. I guess that does work when you take btc on a 5 year time period.  I am all for BTC, but its price stability still seems to be a ways out, whether thats up or down from here, hard to say.

I couldn't agree with you more though about USD inflation, meat prices up something like 60% in the last year and still going up.  Government not helping with $85bil/month I think printed.  I dont really think inflation has started to set it like its going to in the next few years...

[PenAndPaper]

Apple pay doesn't have anything to do with bitcoin in the first place... It's like making a thread about inflation - deflation, fiat - bitcoins etc and having as a title "toshiba ssd disks don't solve this"...

[jbrnt]

ApplePay is a payment system and it is not designed to combat inflation. So I don't see why you are tying these two together. Bitcoin has beaten inflation in the past, but it may not stay the way. If (big if) stayed at the $400 mark for many years and start declining due to lack of interest, bitcoin purchasing power will drop too.

[colinistheman]

PenAndPaper and jbrnt:
In answer to both of your posts wondering about the connection, there were concerns when ApplePay first came out with its new digital wallet that it would be competition for Bitcoin. ApplePay claimed to speed up transaction times with traditional payment methods, and created a digital wallet which is payable from your phone (two qualities which are commonly boasted about Bitcoin).

Because of these similarities, Bitcoin appeared to initially loose a little bit of its uniqueness. I know others wondered the same thing because I saw articles on this very subject, comparing the two. I too was initially concerned that this might be competition for Bitcoin (or make it seem less desirable), but once I thought about it, I realized that nothing has changed as far as the actual basic problem with fiat.

I just wanted to do my part and help share this crystal clear image and viewpoint to others who might have happened to wonder about this themselves. It's all about increasing awareness and spreading the knowledge anyway.


You are correct, ApplePay is simply a payment system, kind of like PayPal. And theoretically ApplePay could support Bitcoin payments easily, just as PayPal could and is doing.

[Febo]

Inflation is an issue, but the image is absurd. Items costing $20.00 in 2013 would have cost $13.99 in 1998.

It is a commercial. They always exaggerate.

You're right, the president's head keeps inflating to ever-larger sizes! This situation is totally unsustainable!!

So in USA guy with biggest head became president?

[IacceptBTC]

You're right, but most people don't care about inflation - they don't even realize its existence. The majority does not consider the effects of inflation on savings. Also, ApplePay is built to offer an easier way to spend money, it's not a savings account. That said, I doubt you'll be able to convince ApplePay users to switch to Bitcoin, because they don't even see inflation as a problem.

That will change when inflation accelerates (eventually reaching hyperinflation) and becomes an important factor to consider in purchase decisions. Then a lot of people will regret not having bought Bitcoin.

ya.ya.yo!

The reason people don't worry about the effect of inflation on their savings is because they are generally able to earn more in interest and investment returns then inflation will eat away. Look at long term returns on the stock market for example, it has historically allowed investors to earn ~7% on their investment after accounting for inflation

[Come-In-Behind]

You're right, the president's head keeps inflating to ever-larger sizes! This situation is totally unsustainable!!

Haha, that was a funny comment.