This week’s bitcoin review focuses on the news surrounding Apple Pay and its effect on bitcoin.
There’s more to bitcoin than a consumer retail system
For bitcoin users, the biggest news out of Tuesday’s Apple event wasn’t a new iPhone or the unveiling of the Apple Watch, but a different kind of product: Apple Pay. It is Apple’s foray into mobile payments, using NFC to allow iPhone or Apple Watch users to store their credit card information on their phone and then simply tap it to pay at retail checkouts. Mobile payments have never really gotten off the ground in the U.S., which is why companies (including Google) have been trying to install some sort of a secure wallet and easier payment system into our increasingly cellular-dependent lives.
To many bitcoin users, this sounded like a death sentence for bitcoin. To the other bitcoin users, this was a blessing…
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