Re:Apple is propping up a fundamentally broken payments indu...
by coldtea on Friday September 12, 2014 @12:43PM
(#8308987)
>Speaking of which, is there still any doubt in anyone's mind that Apple Pay is the reason Apple started banning Bitcoin apps?
Yeah, I totally have a doubt.
For one, Apple Pay will transport more money in its first 1-2 weeks than the whole international BitCoin system will all year.
Just consider that BitCoin's total estimated market cap is 6 billion usd -- something Apple (a single company) makes in revenues in about 8 days.
BitCoin, at the moment at least, is insignificant and fringe, size wise. The 99.9% of the 800 million users Apple has credit cards of don't use BitCoin. And all those companies Apple wants to work with, and users want to buy stuff from, don't accept it anyway.
Second, Apple rejects all kinds of apps from time to time, and given the immaturity and lack of regulation and quality control of most BitCoin exchanges (think MtGox and co), it's something they would consider kicking out of the store, or at least watching very carefully which apps they allow.
And here's the kicker. Apple has allowed those BitCoin apps back in the App Store, a few months ago:
Yeah, I totally have a doubt.
For one, Apple Pay will transport more money in its first 1-2 weeks than the whole international BitCoin system will all year.
Just consider that BitCoin's total estimated market cap is 6 billion usd -- something Apple (a single company) makes in revenues in about 8 days.
BitCoin, at the moment at least, is insignificant and fringe, size wise. The 99.9% of the 800 million users Apple has credit cards of don't use BitCoin. And all those companies Apple wants to work with, and users want to buy stuff from, don't accept it anyway.
Second, Apple rejects all kinds of apps from time to time, and given the immaturity and lack of regulation and quality control of most BitCoin exchanges (think MtGox and co), it's something they would consider kicking out of the store, or at least watching very carefully which apps they allow.
And here's the kicker. Apple has allowed those BitCoin apps back in the App Store, a few months ago:
http://appleinsider.com/articles/14/06/16/apple-begins-allow...