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Why is Apple so sour about Bitcoin?
Wall St. Cheat Sheet ^ | 12/10/2013 | Emily Coyle

Posted on 12/27/2013 11:02:52 PM PST by TsonicTsunami08

There are a handful of companies you don’t want to mess with, and one of them is Apple (NASDAQ:AAPL). The tech giant has serious clout these days, and its support or endorsement could mean the world for struggling startups and new technology. Unfortunately for many, though, Apple doesn’t exactly give out its approval liberally, and in fact, it has no problem handing out the opposite. Developers behind Bitcoin, the digital currency, learned that lesson the hard way recently as they faced several rejections from Apple, and questioned why the Cupertino, California-based company seemed to have it out for them.

(Excerpt) Read more at wallstcheatsheet.com ...


TOPICS: Business/Economy; Computers/Internet
KEYWORDS: bitcoin; cryptocurrency; gold20
Does Apple have plans for a proprietary payment system?


1 posted on 12/27/2013 11:02:53 PM PST by TsonicTsunami08
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To: TsonicTsunami08

Who cares what apple thinks!Let the market decide what will be instead of the corporate goofballs and the bankers.We need a major shake up in the currency world these days and competition so we can trim the fat from these hogs.


2 posted on 12/27/2013 11:12:37 PM PST by plainshame
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To: TsonicTsunami08

iMoney?


3 posted on 12/27/2013 11:14:42 PM PST by Still Thinking (Freedom is NOT a loophole!)
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To: plainshame

Read the article. Apple appears to be playing it precisely by the book after that ridiculous e-book verdict was handed down and do not actually ‘have it out’ for Bitcoin.


4 posted on 12/27/2013 11:20:18 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: TsonicTsunami08

Apple doesn’t like anything that it hasn’t made a version of for itself, so it is more than likely that it has something like Bitcoin in the works.


5 posted on 12/27/2013 11:20:34 PM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults)
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To: Jonty30

What verdict are you talking about? Have a link?


6 posted on 12/27/2013 11:29:20 PM PST by Still Thinking (Freedom is NOT a loophole!)
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To: Still Thinking
Sorry, you have the wrong guy. 🍔 I'm the guy that said that Apple doesn't like things that it doesn't have a version of for itself.
7 posted on 12/27/2013 11:30:44 PM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults)
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To: Spktyr
"Read the article. Apple appears to be playing it precisely by the book after that ridiculous e-book verdict was handed down and do not actually ‘have it out’ for Bitcoin."

Apple was colluding with publishers and engaging in price fixing they just weren't good enough at hiding it.

8 posted on 12/27/2013 11:34:56 PM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: Spktyr

What verdict are you talking about? Have a link?


9 posted on 12/27/2013 11:40:08 PM PST by Still Thinking (Freedom is NOT a loophole!)
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To: Jonty30

Oops, sorry!


10 posted on 12/27/2013 11:40:32 PM PST by Still Thinking (Freedom is NOT a loophole!)
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To: TsonicTsunami08

Maybe because bitcoin has little history and what history does exist suggests that it will not survive.

Just sayin’


11 posted on 12/27/2013 11:53:21 PM PST by buffaloguy
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To: TsonicTsunami08

Maybe because bitcoin has little history and what history does exist suggests that it will not survive.

Just sayin’


12 posted on 12/27/2013 11:53:54 PM PST by buffaloguy
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To: Mad Dawgg

Even people who were wanting Apple to lose said it was a ridiculous verdict.

http://www.macnn.com/articles/13/12/06/call.appointment.of.personal.friend.as.antitrust.monitor.flatly.unconstitutional/


13 posted on 12/28/2013 12:44:18 AM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: Still Thinking

See immediately prior post above for link to article with further info.


14 posted on 12/28/2013 12:44:48 AM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: TsonicTsunami08

FROM THE LINKED ARTICLE:

“...Apple takes rules and regulations extremely seriously, and it is clear that it is doing the same with Bitcoin. If Bitcoin is eventually recognized by a government entity in some regions or countries, Apple might employ the same system, but for now, it is clear that the company has no problem playing it safe and steering clear of the digital currency.”

So I suspect that Apple is simply taking its attorneys’ advice and keeping on safe legal grounds.


15 posted on 12/28/2013 3:49:38 AM PST by House Atreides
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To: Still Thinking

Apple colluded with book publishers to fix ebook prices.


16 posted on 12/28/2013 5:14:26 AM PST by dangerdoc (see post #6)
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To: dangerdoc; Still Thinking

Apple was accused of that by the US Government (can we say “Obama”) who wants to control everything inside businesses. But keep in mind, Apple does not agree that this is the case and they are still fighting this case, legally. We haven’t gotten to the end of the case, yet.


17 posted on 12/28/2013 6:20:16 AM PST by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: TsonicTsunami08

Apple won’t accept Monopoly money either.


18 posted on 12/28/2013 6:22:25 AM PST by txrefugee
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To: dangerdoc; Still Thinking

This is the Obama Administration’s overreach into all things and trying to control and run everything. This case received the Obama Administration’s approval to try and weasel their way into all things Apple.

Behind Apple’s mutiny against its court-ordered e-books monitor
http://features.blogs.fortune.cnn.com/2013/12/02/apple-ebook-court-monitor/

Apple is taking aim not just at the court-ordered monitor in the e-books antitrust case, but also at U.S. District Judge Denise Cote herself.

FORTUNE — On Thanksgiving eve, Apple filed court papers launching a searing attack on the court-ordered monitor who had been appointed barely a month earlier to oversee its compliance with an antitrust decree relating to its sale of e-books.

Apple accused the monitor, Michael Bromwich, a partner at the law firm of Goodwin Procter, of charging excessive fees, behaving in an “unfettered and inappropriate manner,” relying on “secret communications with the court,” evincing “incredibly disruptive” mission creep, and acting in ways that threatened to turn him into an “quasi-inquisitional” offshoot of the federal judge who appointed him in violation of the constitutional principle of separation of powers.

Melissa Schwartz, a media relations specialist at Bromwich’s consulting firm, The Bromwich Group, said Bromwich was out of the country and unavailable to comment. A Justice Department spokesperson said that any response from it would be made in court.

The more eye-catching of Apple’s claims were its accusations that Bromwich was already insisting on meeting every member of Apple’s executive team and board, including former U.S. Vice President Al Gore, Jr., and the company’s legendary product designer, Sir Jonathan Ive — neither of whom had anything to do with antitrust compliance issues, according to Apple (AAPL). In addition, the papers noted, Bromwich was demanding that Apple pay a 15% “administrative fee” to his consulting firm on top of his $1,100 hourly rate and the $1,025 hourly fee of antitrust lawyer Bernard Nigro, who was appointed to assist him because of Bromwich’s lack of antitrust experience. (Nigro heads the antitrust group at the law firm of Fried, Frank, Harris, Shriver & Jacobson, where Bromwich was a partner from 1999 to 2010.)

But legal fees are clearly not the crux of this dispute. Many of the top partners at Apple’s own outside counsel on the e-book matter, Gibson Dunn & Crutcher, bill more than $1,000 an hour, and its appellate ace, Ted Olson, reportedly charged $1,800 per hour on one bankruptcy matter in 2012.


19 posted on 12/28/2013 6:27:42 AM PST by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: Still Thinking

Apple, Simon & Schuster appeal price-fix ruling in e-book case
http://www.theverge.com/2013/10/4/4802952/apple-simon-schuster-appeal-price-fixing-ruling-in-e-book-case

Apple will continue to fight the allegations that it conspired with some of the largest book publishers to fix e-book prices. Apple notified the Second Circuit Court of Appeals that it intends to appeal a July district court decision that found Apple violated antitrust laws.

In addition, Apple and Simon & Schuster, the CBS-owned book publisher, also notified the appeals court that they want it to toss out an injunction imposed on Apple by US District Judge Denise Cote. The judge ruled last month that Apple must accept monitoring by a third party to ensure that the company complies with antitrust laws. Apple was also ordered to sever any agreements with the top five book publishers that restrict retail ebook prices.

APPLE FACES LONG ODDS

Orin Snyder, Apple’s lead attorney wrote “Apple also hereby appeals from any and all orders and rulings that were adverse to it.” Legal experts told All Things D in July that Apple faces long odds at overturning Cote’s decision because of “extensive factual findings and careful application of law.”

In 2012, the Department of Justice filed a civil lawsuit against Apple and five of the six largest book publishers and accused them of agreeing in secret to raise and fix ebook prices. All the publishers previously settled with the government. The case is a blemish to Apple’s reputation as a consumer-friendly company and leaders have denied any wrongdoing. According to GigaOm, Apple doesn’t have to file its appeal until next year.


20 posted on 12/28/2013 6:32:22 AM PST by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: Still Thinking

Meet Orin Snyder, the deadliest trial lawyer in tech
http://www.theverge.com/2013/6/10/4407682/meet-orin-synder-the-tech-sectors-deadliest-trial-lawyer

Apple landed its first big blow last week when Snyder decimated Google’s witness in ebooks antitrust trial

Apple heads into the second week of the ebooks antitrust trial on the heels of a courtroom victory. Last week, a Google executive took the stand to testify on behalf of the government; Orin Snyder, Apple’s lead counsel and one of the country’s top trial lawyers, chopped his credibility into sushi.

It’s worth revisiting because lawyers from the US Department of Justice, who allege that Apple conspired with a cabal of big publishing houses to raise ebook prices in 2010, somehow failed to anticipate the mismatch that would occur when Snyder questioned Thomas Turvey, Google’s director of strategic partnerships. Turvey got drubbed on the witness stand and the prosecution’s lawyers should have seen it coming. Snyder is not yet the household name that David Boies or Alan Dershowitz are, but he’s speeding in that direction.

“SO NOW YOU SAID ‘LIKELY’ TOLD. DO YOU RECALL JUST USING THOSE WORDS?”

Snyder, 50, has won big cases for Cablevision, Warner Bros. Music Group, and Capital One Financial Corp. He’s become a favorite in the entertainment industry and represents such marquee clients as Bob Dylan, Jerry Seinfeld, and The Rolling Stones. He told The Hollywood Reporter in 2011 that celebrities favor “a warrior who thinks outside the box.” Snyder, who works for mega law firm Gibson Dunn, has also proven himself in the tech sector. As counsel to Facebook and the company’s founder Mark Zuckerberg, Snyder challenged the authenticity of the emails that businessman Paul Ceglia alleged were written to him by Zuckerberg, emails Ceglia claimed proved he owned 84 percent of Facebook. Instead of becoming a billionaire, he was arrested last year and charged with fabricating evidence.

When Cablevision sued the Dish Network for pulling the plug on a high-definition TV service it hired Snyder, who eventually convinced the court that Dish managers destroyed the evidence. According to reports, that led to a settlement in which Cablevision walked away with $700 million.


21 posted on 12/28/2013 6:36:26 AM PST by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: txrefugee

They’re not accepting the US dollar? Who knew!


22 posted on 12/28/2013 9:36:37 AM PST by TsonicTsunami08
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To: Star Traveler

“Apple was accused of that by the US Government (can we say “Obama”) who wants to control everything inside businesses. But keep in mind, Apple does not agree that this is the case and they are still fighting this case, legally. We haven’t gotten to the end of the case, yet.”

They have already been found guilty and this is a classic case collusion. Of course they don’t agree, they planned on getting away with it.


23 posted on 12/28/2013 11:02:15 AM PST by dangerdoc (see post #6)
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To: dangerdoc

It’s not over until the fat lady sings ... And she hasn’t screeched yet ... :-) ...


24 posted on 12/28/2013 11:03:44 AM PST by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: Star Traveler

You are delusional, Apple was the bad guy here, my ebooks that are nothing but digital bits that cost nothing to print, store or ship went from about $6 before Apple stepped in to about $12 after they did (averages of books that I buy, maybe different for you).

I as a consumer got no benefit from that price increase. Unless you are an investor in Apple, you did not either.

I personally cheered after the verdict and have seen prices go down since then. The pleasure I got was not as a fan of a particular company, it was from saving money.

Now that the scheme has been broken, I don’t particularly care if Apple wins or loses their appeal as long as they are not in the position to screw me over again.


25 posted on 12/28/2013 11:24:16 AM PST by dangerdoc (see post #6)
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To: dangerdoc

Well ... I know there are Apple-haters out there, but they are going to have to wait for the conclusion of the legal proceedings, too ... just like we are ... :-) ...


26 posted on 12/28/2013 11:29:53 AM PST by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: Star Traveler

They have been found guilty. They are appealing the punishment.


27 posted on 12/28/2013 3:39:25 PM PST by dangerdoc (see post #6)
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To: dangerdoc

That’s what the legal system is for, as you go up the ladder ... to review lower courts and toss out their judgements.

It ain’t over til the fat lady sings, and she is just warming up right now ... :-) ...


28 posted on 12/28/2013 4:13:56 PM PST by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: Spktyr
I see then of course it was overturned on appeal then...

right...?

< crickets chirping >

29 posted on 12/28/2013 6:26:36 PM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: Mad Dawgg

The appeal was filed right away, which means last month. It was not dismissed so we’ll see where it goes.


30 posted on 12/28/2013 9:51:01 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: dangerdoc

It was actually proven in court that Apple’s actions actually drove the average price of ebooks down, not up.


31 posted on 12/28/2013 9:51:48 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: TsonicTsunami08

Sour Apples?


32 posted on 12/28/2013 10:33:19 PM PST by No Whey Jose (What's a tagline?)
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To: Spktyr

Good is bad. Up is down. Say the opposite like it is the truth enough and people believe it especially if they want to.


33 posted on 12/29/2013 6:18:31 AM PST by dangerdoc (see post #6)
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