iPhone 5: Will People Cash Out on Bitcoins?

[JMAHH]

Just wondering.

We've heard a lot about the iPhone 5 coming up. Current iPhone sales are reportedly down because people are holding out for the new one (also take into account the largely aesthetic changes in the 4S, which many weren't really satisfied with).

Do you think some people might cash out of Bitcoins to buy the new iPhone? It's interesting economically because it's about human behavior, and it might have an effect on the exchange rate - however I'll be the first one to admit that if there is any change, it'll be exceedingly small.

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[Littleshop]

Most users in the USA buy the phone subsidized for $199 16gb or $299 32gb.  We then sell our old one for nearly as much or even more.  With AT&T now unlocking phones for customers in good standing (under conditions) the price for the old phone is pretty high. 

Right now a 4 16gb (not a 4s) is going for about $320 unlocked on ebay.  After the new phone comes out that will drop, probably to $250 as more people are selling.  A 4s is going for even more.  So if I sold my 4 after the new one comes out I can cash IN to bitcoin with my profits not out.  On top of that I have a 50/50 odds of selling my old phone for bitcoin directly.   

[JMAHH]

Most users in the USA buy the phone subsidized for $199 16gb or $299 32gb.  We then sell our old one for nearly as much or even more.  With AT&T now unlocking phones for customers in good standing (under conditions) the price for the old phone is pretty high. 

Right now a 4 16gb (not a 4s) is going for about $320 unlocked on ebay.  After the new phone comes out that will drop, probably to $250 as more people are selling.  A 4s is going for even more.  So if I sold my 4 after the new one comes out I can cash IN to bitcoin with my profits not out.  On top of that I have a 50/50 odds of selling my old phone for bitcoin directly.   

Good points. The 'cash 4 iPhone' business is less pronounced in Europe.

[Garr255]

What's an iPhone? Ohh you mean that censor-ful device?


One example:
http://www.zdnet.com/apple-patent-could-remotely-disable-protesters-phone-cameras-7000003640/

Many others http://bit.ly/w4dQNi

[sunnankar]

Do you think some people might cash out of Bitcoins to buy the new iPhone?

Due to Apple censoring the Blockchain app therefore I am seriously considering boycotting the iPhone and going with a more open solution.

[Garr255]

Do you think some people might cash out of Bitcoins to buy the new iPhone?

Due to Apple censoring the Blockchain app therefore I am seriously considering boycotting the iPhone and going with a more open solution.

I'm totally boycotting apple for other reasons.

[JMAHH]

What's an iPhone? Ohh you mean that censor-ful device?


One example:
http://www.zdnet.com/apple-patent-could-remotely-disable-protesters-phone-cameras-7000003640/

Many others http://bit.ly/w4dQNi

Not your topic, Linux fanboy.

[SgtSpike]

I do the same (as Littleshop mentioned), though I'll probably have to skip this generation, as my contract renewal won't be for another year.  But I always sell my old iPhone, buy the latest one, and it about evens out.  Sometimes I have to add $25 or so.  I never buy a phone without the contract renewal discount, and it baffles me that people will pay $700-$800 for a phone instead of waiting until their contract is up and taking a 75% discount on that number.

[Garr255]

What's an iPhone? Ohh you mean that censor-ful device?


One example:
http://www.zdnet.com/apple-patent-could-remotely-disable-protesters-phone-cameras-7000003640/

Many others http://bit.ly/w4dQNi

Not your topic, Linux fanboy.

Not a Linux fanboy at all. Just a part-time realist.

[Seal]

Do you think some people might cash out of Bitcoins to buy the new iPhone?

Due to Apple censoring the Blockchain app therefore I am seriously considering boycotting the iPhone and going with a more open solution.

Its back on the app store:
https://bitcointalk.org/index.php?topic=105575.0

[BobbyJo]

In the UK the phone is usually very cheap, with the right contract.  You are simply buying the phone but on credit, over a year or 2 year period.  However, I dont think this will have any impact whatsoever on the value or price of BTC.

[jago25_98]

I didn't want to get too offtopic but I guess it comes with the territory.

How linked is iPhone to the typical Bitcoin user anyway? How likely does a Bitcoin trader have an iPhone?

I've always thought perhaps Apple isn't well suited to the kind of user that uses Bitcoin anyway but am I making an assumption here?

iOS to me makes me think more of ease of use. Android is much better now but I still have that association of iOS as easy and reliable and Android as more potential but takes work to get to a good state.

For example, I use a Galaxy S1. I paid just £90 and probably available cheaper yet it runs JellyBean and that took work to do. I don't feel the need to get an iPhone.
The difference here is that I am able to cheat the system this way, that's the whole reason I have the phone.

I get the impression of more control on Android. Is that impression well informed though? On my Droid I have a permissions app and a iptables based firewall app. I also have all the hacker based resources to choose from but of course choosing a ROM is a part of it I which was more straightforward.

Because of all ^ this I tend to think that iOS keeps all the permissions stuff silent instead, especially after hearing about the location logging thing and previously pulling Bitcoin apps from the store. So I tend to think that iOS just paints over all the problems, but is this assumption well founded? One thing I like about iPhone is the consistency but one thing I like about some android devices is the custom ROM hacking that allows a LOT more milage for the money such that I tend to think an Android device is more future proof than an iPhone but is that an assumption too in that an iPhone is more uniform so more supported in the future (look at iPhone3 android ports as an example).

Bitcoin users in the Apple vs Google faceoff I think might be interested in the following questions which I've never seen addressed sufficiently in any comparison (good example: http://gizmodo.com/5921789/android-jelly-bean-vs-ios-6-vs-windows-phone-8-the-ultimate-ultimate-comparison ) review which are:

- which is more future proof (Android for hackability or iPhone for consistency?)
- which has the better security model now we have JellyBean?

There must be a poll here somewhere asking people about what phone they have? Perhaps I should start one if we can't find one

[Factory]

Do you think some people might cash out of Bitcoins to buy the new iPhone?

Due to Apple censoring the Blockchain app therefore I am seriously considering boycotting the iPhone and going with a more open solution.

I'm totally boycotting apple for other reasons.

Garr, could you elaborate on why you are boycotting Apple? I'm just curious.

Thanks.

[dotcom]

am I the only one still using the iphone 2g?

i haven't even updated it in like 4 years

[mccorvic]

am I the only one still using the iphone 2g?

i haven't even updated it in like 4 years

YOU ARE NOT A GOOD CONSUMER! The ghost of Steve Jobs is mightily angry.

[justusranvier]

Do you think some people might cash out of Bitcoins to buy the new iPhone? It's interesting economically because it's about human behavior, and it might have an effect on the exchange rate - however I'll be the first one to admit that if there is any change, it'll be exceedingly small.

While the exchange rate is so dependent on speculation it is extremely vulnerable to effects like you mention.

[kokojie]

who buys an iPhone here? anyone that is even slightly technical, would avoid the iPhone like a plague.

[DeathAndTaxes]

Meh.  Just get a google galaxy nexus.

Open support for apps (including MtGox trading app, blockchain.info, android spinner, and more).

I mean android has grown up a lot.  I just don't see why any bitcoin user will willingly choose a locked down product by a company who is outright hostile toward Bitcoin.  I mean Apple's market share and attacks on Bitcoin are a real threat to the expansion of Bitcoin in the mobile market.  Users who choose that platform simply make Apple more powerful and their attacks against Bitcoin more effective.

[BR0KK]

Nope .... i bought it and will by the 5. at launch date!... Still simply the best smartphone u can get for your money (with all the downsides, censorship and whatsoever people might believe apple is doing ..... ---> People thought MS is always calling home ..... an so forth. I think they need to see a devil everywhere ...)

If u re tecnikal and u dont like apple , just get a jailbreak and stop complaining about stuff that apple "might" do or has done

Blockchain runs fine with JB .... i don't see the point not using the iPhone? (there is a good point about not using online wallets at all ....")

just my two bitcents

[ArticMine]

What's an iPhone? Ohh you mean that censor-ful device?


One example:
http://www.zdnet.com/apple-patent-could-remotely-disable-protesters-phone-cameras-7000003640/

Many others http://bit.ly/w4dQNi

+1

One of the reasons I am taking a very close look at the Samsung Galaxy s3 is because Apple is suing to get this phone taken of the market.