Apple removes all bitcoin and other coin apps from its store

[ThatsABigOne]

As someone that doesn't like Apple, I agree with their decision regarding Bitcoins.

 

[smackababy]

The only good thing to come out of this garbageCoin fab was Dogecoin raising $30,000 in a single day for the Jamaican bobsled team to go to the Olympics. Sadly, no airline would accept the currency, so they still couldn't make it.

 

[vbuggy]

I don't think Apple is doing this to single out Bitcoin, I think they're against anything that resembles an in-app transaction that doesn't go through their system. Which makes sense, since they don't get their 30% cut that way.

You know, I'm resigned yet mildly surprised at exactly what people can conjure out of their prejudices.

As I said in my first post in this thread I think this is the only valid reason - that there is an in-app transaction going on there, and in every other case Apple would take a cut. Even if Apple *wanted* (as a purely hypothetical and probably unlikely scenario) to let Bitcoin and the others flourish, they can't do this without torpedoing their own Store margin model.

 

[Rakehellion]

I don't think Apple is doing this to single out Bitcoin, I think they're against anything that resembles an in-app transaction that doesn't go through their system. Which makes sense, since they don't get their 30% cut that way.

They don't get a cut of the PayPal or Square app transactions either.

 

[Doppel]

I honestly can see its purpose and a possibility of it working as a currency. The issue right now is just that $100 of bitcoin today may be worth $120 or $80 tomorrow, and $1000 or $5 a year from now. With so many people speculating or trying to play the market, it just doesn't have the stability of a major currency. I do think that the time to play the bitcoin market is over so joining now would probably be a mistake. Of course, I thought it was dead when it went from something like $20/coin to $3/coin so I was quite wrong then.

I see a use to digital currencies, but Bitcoin isn't the one that will work. And I am still unequivocally hungup on its inevitable deflationary situation, which is absolutely and completely impossible to get away from if it ever gains significant traction. The bitcoin faithful continue to downplay this or even pretend it's a good thing. It's not, and bitcoin will die. I continue to batch Bitcoin purveyors in only two camps:
1) Ignorant and actually believe it has a future
2) Hucksters pumping it up to dump it later as its value increases

If you know you're in group 2 good on you. I don't have the cajones to do that, but if you made a butt load of cash on this silly shit congrats, I am genuinely jealous. If you don't think you're in group 2 news flash you're in group 1 and you're gonna get hosed if you don't drop it.

Everything's a fad until it isn't. All the geniuses can retroactively look at history, and say "told you it was a fad", while silently forgetting everything that wasn't a fad.

And everything that's a fad is a fad hehe

 

[Rakehellion]

I continue to batch Bitcoin purveyors in only two camps:
1) Ignorant and actually believe it has a future
2) Hucksters pumping it up to dump it later as its value increases

Bingo.

There's the naive hipster who just bought $100 worth of Bitcoins and thinks he's hip and trendy. But then there are people out there making billions of dollars trading Bitcoin who don't want it to ever become stable and they're the ones with the power. Mt. Gox is a scam.

 

[rockyct]

I see a use to digital currencies, but Bitcoin isn't the one that will work. And I am still unequivocally hungup on its inevitable deflationary situation, which is absolutely and completely impossible to get away from if it ever gains significant traction. The bitcoin faithful continue to downplay this or even pretend it's a good thing. It's not, and bitcoin will die. I continue to batch Bitcoin purveyors in only two camps:
1) Ignorant and actually believe it has a future
2) Hucksters pumping it up to dump it later as its value increases

If you know you're in group 2 good on you. I don't have the cajones to do that, but if you made a butt load of cash on this silly shit congrats, I am genuinely jealous. If you don't think you're in group 2 news flash you're in group 1 and you're gonna get hosed if you don't drop it.And everything that's a fad is a fad hehe

I think I saw a stat saying that 60% of the existing, mined bitcoin has never been transferred once so either it's being horded by the person who mined it, or it's lost on a hard drive somewhere. That can't be good for the market overall. However, since it was the first, I think the future of crypto currency relies on it. I can't see one of the other coins becoming a legitimate currency while bitcoin fails.

Anyway, I have no money invested in bitcoin. I'm mining Dogecoin right now because of the community but I'm sure not investing in that either.

edit: I'm a bad Shibe, misspelled Dogecoin

 

[Doppel]

I think I saw a stat saying that 60% of the existing, mined bitcoin has never been transferred once so either it's being horded by the person who mined it, or it's lost on a hard drive somewhere. That can't be good for the market overall. However, since it was the first, I think the future of crypto currency relies on it. I can't see one of the other coins becoming a legitimate currency while bitcoin fails.

Anyway, I have no money invested in bitcoin. I'm mining Dodgecoin right now because of the community but I'm sure not investing in that either.

Is Dodgecoin a good one to get into? I wouldn't personally spend a nickel on hardware for this, but if I have a PC sitting there maybe I should be mining this so I can pretend Dodgecoin is worth something and turn it into money if it becomes worth anything. I'd still be in Camp 2, unless Dodgecoin specifically addresses the artificial ceiling, which I believe is the fundamental error in Bitcoin.

 

[Rakehellion]

Dodgecoin? You mean Dogecoin, as in named after the internet meme. :/

 

[rockyct]

Is Dodgecoin a good one to get into? I wouldn't personally spend a nickel on hardware for this, but if I have a PC sitting there maybe I should be mining this so I can pretend Dodgecoin is worth something and turn it into money if it becomes worth anything. I'd still be in Camp 2, unless Dodgecoin specifically addresses the artificial ceiling, which I believe is the fundamental error in Bitcoin.

Well, I'm just letting my existing AMD video card mine for me half the day and I got about 1,000 coins a day doing that which right now is worth about $1.60. I'm not sure how Dogecoin really addresses the ceiling except 100 billion coins will probably be mined by the end of the year and about 40 billion have been mined already. After about 100 billion have been mined, it stays at that difficulty and 5 billion a year are expected. There is no fixed amount possible like bitcoin.

I mainly like the community behind it. They are treating it as a digital tipping service on reddit. If someone likes a comment, they can reply in a way that triggers an automated bot to transfer the dogecoin into their account. They really don't take themselves very seriously. http://www.reddit.com/r/dogecoin/

 

[rockyct]

Dodgecoin? You mean Dogecoin, as in named after the internet meme. :/

Whoops, yeah, mistype on my first post.

 

[Crusty]

Well, I'm just letting my existing AMD video card mine for me half the day and I got about 1,000 coins a day doing that which right now is worth about $1.60. I'm not sure how Dogecoin really addresses the ceiling except 100 billion coins will probably be mined by the end of the year and about 40 billion have been mined already. After about 100 billion have been mined, it stays at that difficulty and 5 billion a year are expected. There is no fixed amount possible like bitcoin.

I mainly like the community behind it. They are treating it as a digital tipping service on reddit. If someone likes a comment, they can reply in a way that triggers an automated bot to transfer the dogecoin into their account. They really don't take themselves very seriously. http://www.reddit.com/r/dogecoin/

They stole that idea from r/bitcoin btw

 

[rockyct]

They stole that idea from r/bitcoin btw

Of course, but you don't actually see much of that happening in their sub reddit. You'll see tipping in practically every dogecoin thread. I'm sure a lot of that has to do with 10 dogecoin being worth less than 2 cents, but still, I don't really take crypto currencies serious and neither does the doge community. Even if the coin tanks, it's still a pretty fun ride. There's too much money tied up in bitcoin for the people there to joke around with the price fluctuations.

 

[chimaxi83]

Oh look, bitcoin bash thread #3409587234. Nothing to see here that hasn't been seen before, folks.

 

[IEC]

For me it's a fun hobby that happens to pay for my computer upgrades. If it goes "to the moon" I will be happy. If it crashes to nothing I won't sweat it - it was good while it lasted.

IMO it will continue for the foreseeable future as companies such as Coinbase and Bitpay try to legitimize it as a way to process payments for <1% merchant fees (which is where the real gain for merchants will be assuming Coinbase/Bitpay assume the volatility risk).

But it's just too funny reading the misinformed and uneducated posts in this thread from both sides, pro and anti. Do yourselves a favor and research it before spouting off and sounding ignorant. And LOL conspiracy nuts.

 

[BUTCH1]

And in the end this helps Google as Android has no intentions of dumping bitcoin, dumb idea Apple..

 

[Rakehellion]

Oh look, bitcoin bash thread #3409587234. Nothing to see here that hasn't been seen before, folks.

It stated out as Apple bash thread #93327835212306

 

[Rakehellion]

And in the end this helps Google as Android has no intentions of dumping bitcoin, dumb idea Apple..

No one gives a damn about Bitcoin but fedora-wearing Reddit nerds.

 

[Old Hippie]

The facts of the issue at hand :

(A)- The governments of the world CRAVE power and control.
(B)- This control comes in legal and financial absolutism.
(C)- Bitcoin and similar virtual currencies are outside of the regulatory and taxation systems operated by the most powerful governments on earth.

this leads to

(D)- Bitcoin is crushed by regulation and government controls. All they have to do is write and pass a law that says that sending or receiving a digital currency not regulated by the federal government is a felony punishable by prison time and fines, and boom : it's reduced to irrelevance.

The best anyone can hope for is that Bitcoin et al are co-opted by the government rather than being outright crushed.

People tend to forget that the G-men *DO* take exceedingly strong steps towards eliminating challenges to central authoritarian control, ESPECIALLY when it comes to financial instruments. You either buy/co-opt them (Big Banks), or get kicked to the curb.

Hit the nail on the head.

While I have not bothered with Bitcoin, in the past I was a user of E-Gold until the Feds got involved.

These two 'currencies' seem to have a lot in common and I believe the fate of Bitcoin will parallel that of E-Gold.

Take a little time and read about it here.

 

[rockyct]

Hit the nail on the head.

While I have not bothered with Bitcoin, in the past I was a user of E-Gold until the Feds got involved.

These two 'currencies' seem to have a lot in common and I believe the fate of Bitcoin will parallel that of E-Gold.

Take a little time and read about it here.

I'm sure the government could find another reason to take down bitcoin but most sites that actually exchange coins for real money do require the person to prove they are a US citizen and living currently in the US.

If anyone this this decision by Apple will actually cause a blowback are just fooling themselves. This won't affect Apple or Google one way or another. Most of the people who are really pissed off right now are already Android users. The rest won't make a dent if they switch.

 

[mizzou]

considering bitcoins were obtained with zero effort, i'm not surprised this hasn't tanked overnight. Many will simply hold onto them, for no other reason then to see what happens in the future.