Apple's App Store Guidelines Now Allow for 'Approved' Virtual Currencies in Apps

Discussion in ' News Discussion' started by MacRumors, Jun 3, 2014.

  1. MacRumors macrumors bot


    Apr 12, 2001

    Apple has updated its App Store review guidelines to allow for "approved" virtual currencies in apps, paving the way for new types of currencies to be traded and maintained on iOS devices, reports Reuters.
    The move is interesting given Apple's past tendencies to remove and deny apps that promote virtual currencies, namely those having to do with the popular Bitcoin currency. Last year, Apple notably required the developers behind private messaging app Gliph to remove the app's Bitcoin sending capabilities, or face deletion from the App Store.

    Apple's actions on Gliph also shed light on the company's overall relationship with Bitcoin apps. It was reported that Apple had told a number of developers behind Bitcoin-related apps that their apps contained content "that is not legal in all the locations in which the app is available," and were non-compliant with Apple's policies.

    However, with Apple's new App Store guidelines on the matter, it is now possible that apps like Gliph could indefinitely allow for virtual currencies like Bitcoin to be traded. While it is ultimately up to Apple as what is allowed in its apps, the company's updated policy marks a completely new position on the issue of virtual currencies.

    Article Link: Apple's App Store Guidelines Now Allow for 'Approved' Virtual Currencies in Apps
  2. jetlife2 macrumors regular


    Apr 18, 2004
    Cincinnati, Oh
    Opens a new world....but given how different each country's rules are , may lead to fragmentation of apps.
  3. roblin macrumors regular

    Apr 5, 2007
    Been on the btc bandwagon for 1.5years now and was not happy with Apple's anti-bitcoin stance. Blockchain-app has been doing ok for my irl-purchases, but with this I expect some nice features in future apps. Will be interesting to see how it ends up, Apple has to know that bitcoin might eat some of their 30% markup, but being left out might suck even more...
  4. eiprol macrumors regular

    Jan 20, 2009
    This is HUGE for bitcoin... Given the past attitude of Apple against it
  5. SeaFox macrumors 68020


    Jul 22, 2003
    Somewhere Else
    So, SNAFU.
    No change. You may be in violation, you may not. If Apple decides you are their reasoning may or may not make sense, but you have no recourse.
  6. macrumors 68000

    May 25, 2012
    Yea it should be interesting to see how it plays out for sure.
  7. mac1984user macrumors 6502a


    Dec 10, 2009
    United Kingdom
    That's good news for a friend of mine who left Apple because the iPhone didn't allow bitcoin apps. I guess if it's something you use/need regularly, it could be a deal breaker.
  8. Bloomedis macrumors member

    Aug 4, 2007
  9. SHNXX macrumors 68000

    Oct 2, 2013
    Well it's not like any other FIAT currency is backed by gold either.
  10. DennisD7 macrumors member

    Jul 17, 2012
    London, UK
    It's backed by something
  11. sjjohnston macrumors newbie

    Jun 3, 2014
    FIAT currency is backed by the total production of your countries economy, i.e., it's GDP (gross domestic product). Bitcoin is backed by our collective imaginations - it's pure speculation, with 1/2 of all Bitcoins owned by less than 1,000 people. Somebody is making money on Bitcoins - but as in a casino, everyone else loses.
  12. Bloomedis macrumors member

    Aug 4, 2007
    Trust. No serious banker trusts Bitcoin.
  13. RolyPolyBird macrumors regular

    Aug 13, 2010
    You parallel with the Casino industry and BitCoin as a currency is baseless. As is your assumption that everybody loses.
  14. Amacfa macrumors 65816


    May 22, 2009
    There was never an anti-bitcoin stance, you've just been to r/bitcoin too much.
  15. CrazyForApple macrumors 6502a


    Dec 31, 2012
    Buffalo, NY
    There should be some funny names for currencies soon
  16. laserbeam273 macrumors 6502

    Sep 7, 2010
    It'll be a good day when we can buy apps with Dogecoin :cool:
  17. mactumors macrumors 6502

    Aug 3, 2008
    Bitcoin is backed by encryption and the laws of mathematics, in the same way that gold is backed by nothing but chemistry.


    Bitcoin being backed by nothing but math is a feature. This makes it superior to something like your PayPal balance, which is backed by one selfish company with an complicated terms of service.
  18. Parasprite macrumors 68000


    Mar 5, 2013
    So many virtual fartcoin apps these days...
  19. JHankwitz macrumors 68000

    Oct 31, 2005

    Is it true that you don't have to pay taxes on bitcoin income? I'll bet the IRS loves that.
  20. 2457282 Suspended

    Dec 6, 2012
    Since you are on the bandwagon, could you please explain? I don't understand the point of bitcoin as opposed to any other currency. With PayPal or credit card I can already pay for anything I want online. What does bitcoin get me? The only thing I have seen so far is a Ponzi pyramid type problem where people who get them early are trying to make money off them versus using them as actual currency. Now I will admit that in general I am clueless of this thing called bitcoin so my perception could be off, so please don't go after my ignorance (as I admit to it readily), but please tell me why I should leverage this new currency and what its value is to me as a consumer. Thank you.
  21. mactumors macrumors 6502

    Aug 3, 2008
    No, it is not true.
  22. JAT macrumors 603

    Dec 31, 2001
    Mpls, MN
    Mostly it is for people who want to avoid "country" money, preparing for WW III, in which countries will be defeated by the upstart political empire of Google and its tenuous alliance with Microsoft.
  23. jayducharme macrumors 68030


    Jun 22, 2006
    The thick of it
    Ah, but Apple hasn't become pro-Bitcoin just yet. All they're saying is that they'll consider approving certain "virtual currencies." They haven't specifically mentioned Bitcoin, which is getting the most press these days but isn't the only player. Apple's wording makes it sound more like an app can have its own currency within that app's world.
  24. roadbloc macrumors G3


    Aug 24, 2009
    Trust. No serious people trust bankers.
  25. mactumors macrumors 6502

    Aug 3, 2008
    Right now, you are right. It's not as convenient as a credit card to you. The only advantage I can think of is that if you wanted to buy something online, you can just push a button and send the person bitcoin, instead of having to create an account and put in your credit card info and billing address. If you don't trust the person you are paying then you don't have to worry about them stealing your credit card number. Another advantage to you right now might be just to have it as an investment. It might be worth more next year.

    The real benefits right now are for merchants, who don't have to pay credit card processing fees and don't have to worry about chargebacks or fraud. If you were an etsy seller then you would make more money accepting bitcoin. Because of that, you might see merchants offer a discount for paying with bitcoin in the future.

    For people who are not you, there are much greater benefits. If you wanted to send money overseas, it's an expensive complicated process. With bitcoin, it's instant and free. Also, not everyone in every country has a stable local currency, or access to the kind of banking that you have. Those people might not be able to get a credit card. Bitcoin could be a big deal for them.

    Bitcoin is really a big promise. Banks around the world are complicated and sending money between them is expensive. There are loads of different currencies. Bitcoin could be a global currency accepted anywhere in the world. Credit cards today are expensive for merchants and terrible for fraud and theft. In the age of the internet, Visa is an unnecessary middleman that bitcoin could do away with.

    Anyway... That's a taste of why people are jumping on the bandwagon. In technology, when someone invents a more efficient way to do something, it puts the other guys out of business. The hope is that bitcoin can disrupt finance in the same way, because it really is cheaper and more efficient.

    That's just a taste. It's also really amazing to me how the currency works and how it is secured. It's an amazing accomplishment for encryption and networking. That's why some people are excited about it from a purely tech angle.

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