Samsung Pays Apple $1 Billion Sending 30 Trucks Full of 5 Cents Coins

[cowbellc]

http://en.paperblog.com/samsung-pays-apple-1-billion-sending-30-trucks-full-of-5-cents-coins-294795/

This morning more than 30 trucks filled with 5-cent coins arrived at Apple’s headquarters in California. Initially, the security company that protects the facility said the trucks were in the wrong place, but minutes later, Tim Cook (Apple CEO) received a call from Samsung CEO explaining that they will pay $1 billion dollars for the fine recently ruled against the South Korean company in this way.

the funny part is that the signed document does not specify a single payment method, so Samsung is entitled to send the creators of the iPhone their billion dollars in the way they deem best.

Lee Kun-Hee

This dirty but genius geek troll play is a new headache to Apple executives as they will need to put in long hours counting all that money, to check if it is all there and to try to deposit it crossing fingers to hope a bank will accept all the coins.

Lee Kun-hee, Chairman of Samsung Electronics, told the media that his company is not going to be intimidated by a group of “geeks with style” and that if they want to play dirty, they also know how to do it.

You can use your coins to buy refreshments at the little machine for life or melt the coins to make computers, that’s not my problem, I already paid them and fulfilled the law.

A total of 20 billion coins, delivery hope to finish this week.

Let’s see how Apple will respond to this.

 

[Extremist]

now got coin counting machine , just pour them inside and count.

 

[KNNBPCB]

What in the world is Teo Chee Hean doing in the picture? Is he giving descriptions of the WL which he had last night to the person beside him?

 

[kopiuncle]

angmoh damned chowkuan!

 

[singveld]

bullshit, coins are not legal tender, therefore apple do not have to accept it. Again someone dreaming up story.

 

[thinkorsink]

wahaha...

<a href="http://s613.photobucket.com/albums/tt218/hightoss/?action=view&amp;current=225109_10151188416316240_226496064_.jpg" target="_blank"><img src="http://i613.photobucket.com/albums/tt218/hightoss/225109_10151188416316240_226496064_.jpg" border="0" alt="Photobucket"></a>

 

[Balls2U]

"Let’s see how Apple will respond to this."

They would probably call it a silly and childish act!

 

[kopiuncle]

the apple is rotten. no need to buy and eat it.
go for samsung anytime anywhere ....

 

[Cruxx]

A lot of schizos on the internet. It's no wonder why the 60% are so dismissive of opposition-supporting keyboard warriors.

 

[djent]

Not really: Samsung didn’t pay Apple $1bn in 5 cent coins

 

[singveld]

wait. really? there are actually people in this world that believe this bullshit story?

 

[singveld]

now got coin counting machine , just pour them inside and count.

really? how many 5 cents coins are needed to obtain 1 billion dollars? how many trucks are required to deliver these coins?
Is coin legal tender?

If you know these answers, you will know immediately that it is a made up story.

 

[juzbeyrself]

but there are still idiots out there who would fall for it somehow.

 

[cowbellc]

bullshit, coins are not legal tender, therefore apple do not have to accept it. Again someone dreaming up story.

The US Coinage act of 1965 says:
"United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes and dues. Foreign gold or silver coins are not legal tender for debts."

Confusion about paying with coins often arises from the difference between paying for something, and settling a debt.

If I owe you $20 and try to pay you with $20 in pennies, you have to accept it, because the coinage act says that coins are 'legal tender for all debts....'.

If I walk into your store though and offer to buy something with $20 in pennies, you don't have to accept it - I have no debt to you, I'm merely offering to enter into a contract. You can require any payment terms you want - credit card only, no coins, even "We only accept payment in Euros."

 

[greedy and cunning]

wait. really? there are actually people in this world that believe this bullshit story?

yes there are , at least in sinkie land . why not ?

thats howl histree repeat itsell every 5 years.

just like the pop champagne story, some even confirmed he got information from doctor. and yet many believed.

 

[Narong Wongwan]

Fake story.
Real life case was karsono kwee paid court settlement of millions with 2 dollars notes.

 

[Alamaking]

Apple will take the coins and will follow up another suits against Samsung, lol

Long live Apple, lol

 

[johnny333]

There are limits to the amount you can pay using coins.

I don't know the amount in the US but for the UK it is the following:


£5 (Crown) - for any amount

£2 - for any amount

£1 - for any amount

50p - for any amount not exceeding £10

25p (Crown) - for any amount not exceeding £10

20p - for any amount not exceeding £10

10p - for any amount not exceeding £5

5p - for any amount not exceeding £5

2p - for any amount not exceeding 20p

1p - for any amount not exceeding 20p

 

[gatehousethetinkertailor]

http://www.guardian.co.uk/technology/blog/2012/aug/29/apple-samsung-trucks-nickels-fake

No, Samsung did not try to pay Apple its $1bn fine in nickelsDumb meme of the day, but it fails the legal tender test - and the reality test, if you think how much metal that would require (updated)

As proof that some people will believe absolutely anything, the latest story doing the rounds is that following Apple's win in the mutual patent infringement case against Samsung, in which the jury assessed a $1bn fine, "Samsung paid Apple its $1bn fine by sending more than 30 trucks to Apple's headquarters loaded with nickels [5-cent pieces]". And that when Apple security was just about to freak out, Apple chief executive Tim Cook was called by Samsung who told him this was how they were paying the billion-dollar fine.

Hahahaha.

Jeez.

Well, at least one fact is right: Tim Cook is chief executive of Apple.

On to the debunking.

1) Samsung's fine ($1.049bn) isn't yet payable; the judge hasn't ruled. All we have is the jury's verdict. The judge's decision, which could include a tripling of the fine, is due on 20 September (or possibly 6 December now; it's unclear). Until then, Samsung only has to pay its lawyers. That should be less than $1bn.

2) If Samsung tried to pay the fine in five-cent coins, Apple could legitimately tell the trucks to turn around and head back to Samsung (if the trucks weren't imaginary in the first place). Here's the relevant phrase from the US Treasury web page:

Q: I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn't this illegal?

A: The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."

This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.

So basically it would be Apple's choice whether it accepted the payment. (In the UK, the rules are stricter: "legal tender" - meaning payment for a court-ordered debt - mean, says the Royal Mint, that 5ps are only legal tender for amounts up to £5, for example. It's only when you get to £1 that you can pay debts up to "any amount".)

3) Some more fact-checkiing from Ken Tindell via Twitter: "A nickel weighs 5g. It would take 2,755 18-wheeler trucks (max legal tare 80,000 lbs) to carry the money."

4) Consider how much a billion dollars in nickels would weigh: you need 20bn of them, and at 5g each that's 0.005 kg x 20,000,000,000 = 100,000,000 kg = 100,000 tonnes.

5) There probably aren't that many nickels in circulation anyway. The New York Times noted in 2006 that there were about 20bn nickels in circulation at the time; rising metal prices were encouraging people to melt them for the copper and zinc. Another dose of reason.

The story appears to have originated on "humour" site 9gag, which Mobile Entertainment describes succinctly as "a place normally reserved for z-list memes and screenshots of Facebook statuses." Yup, this one fits that.

The story actually originated on El Deforma, described (by many) as "an Onion-like Mexican website" - that is, specialising in fake news. Here's the original http://eldeforma.com/2012/08/27/sam...-de-dolares-a-apple-en-monedas-de-5-centavos/

I'm grateful to Maria Figueroa, who first pointed this out to me.

She also pointed out that the site has a "tip of the day", which on Wednesday had the advice: "Si vas a plagiar noticias, no uses un sitio de noticias falsas como fuente." Or In English: "If you're going to steal news, make sure not to use a fake news site as a source."

Advice that Yahoo News could have taken. Oops.

 

[Cruxx]

but there are still idiots out there who would fall for it somehow.

Speaking of idiots, has anyone seen god_zeus today?