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Author Topic: [12-06-2018] Apple Bans Cryptocurrency Mining on iPhone  (Read 73 times)
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June 12, 2018, 11:55:04 AM
 #1

Apple recently announced new restrictions on the use of cryptocurrencies on iPhones and iPads as pointed out by AppleInsider. The tech giant has recently updated its developer guidelines to ban mining cryptos. It appears though that Apple is not happy with users of their devices undertaking this practice. The new rules introduce more app restrictions, targeting

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June 12, 2018, 01:27:56 PM
Merited by richardsNY (1)
 #2

No one in their right mind would do this voluntarily anyway.  It is like trying to use a single toothpick to destroy the great wall of China.  You might make a slight scratch after centuries (or instantly if you were extremely lucky), but it would be stupid to do.

The only ones that would be doing this are developers trying to scam people who download their apps.
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June 12, 2018, 01:30:47 PM
 #3

I'm not someone that advocates for mining on every single device you can get your hands on, but it would seem pretty disgusting for Apple for take a "Stand" against cryptocurrencies for seemingly no reason. If anything, mining on their phones could potentially increase sales, or spike the price of older models back up. It seemingly provides more value to their products if you allow people the freedom to use it as they please. They shouldn't limit the usage of the hardware they're providing.

I am well aware that mining on an iPhone is beyond worthless, but people are doing it significantly enough for Apple to do something like so. That's where I'm drawing my conclusions from.

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June 12, 2018, 02:47:36 PM
 #4

When you buy something, then you should be free to do with this product what you want, but in this case Apple is doing complete correct thing. There are so many users who mine on their smart phones and brick them after some time, then go to sellers and seek replacement. In this way Apple is protect their users and itself as a company of the additional cost.

Although mining on smartphones and even home PCs is completely useless, there is army of naive users who do just that. After some time they realize that there is no profit, but sometimes is to late for their devices.

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June 12, 2018, 03:12:19 PM
 #5

If they were smarter, they would simply just allow mining apps but only those that openly say they will use the phone to mine. People would burn up their precious iPhones and then buy newer ones in a shorter time. More sales for them. Now they will just encourage people to try to use them anyway or move away and find actual devices able to mine quicker. I wonder if these affect staking wallets too or are they just thinking of Bitcoin PoW?

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June 12, 2018, 03:32:15 PM
 #6

Apple imposed certain rules which overall seems logic and may prevent scam essentially
Quote
1- Apple will allow virtual currency wallet apps, as long as they’re offered by developers who are enrolled as organizations.
2- The only cryptocurrency mining apps allowed are those that mine outside of the device, like cloud-based mining.
3- Apps can help users make pay, trade, or receive cryptocurrency on an approved exchange, but the apps must be from the exchanges themselves.
4- Similarly, apps involved in initial coin offerings, bitcoin futures trading, or other cryptocurrency securities trading need to be from the banks, firms, or other approved financial institutions. And they must be lawful.
5- Cryptocurrency apps can’t offer users virtual coin for tasks like downloading other apps, getting other users to download the app, or boosting social media activity.
In addition, Apple is giving its full support to cryptocurrency wallet apps, as long as they are “offered by developers enrolled as an organization.”]
1- Apple will allow virtual currency wallet apps, as long as they’re offered by developers who are enrolled as organizations.
2- The only cryptocurrency mining apps allowed are those that mine outside of the device, like cloud-based mining.
3- Apps can help users make pay, trade, or receive cryptocurrency on an approved exchange, but the apps must be from the exchanges themselves.
4- Similarly, apps involved in initial coin offerings, bitcoin futures trading, or other cryptocurrency securities trading need to be from the banks, firms, or other approved financial institutions. And they must be lawful.
5- Cryptocurrency apps can’t offer users virtual coin for tasks like downloading other apps, getting other users to download the app, or boosting social media activity.
In addition, Apple is giving its full support to cryptocurrency wallet apps, as long as they are “offered by developers enrolled as an organization.”
However, the fact that buying an incredibly high and over priced device then they ask you what to do or not is suckish.

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June 12, 2018, 04:22:36 PM
 #7

Given that Apple is a supporter of its own ecosystem and closedsource applications, I can assume that this solution is a preparation for something more ambitious. I suppose that Apple wants to create a closed cryptocurrency ecosystem for users of its gadgets.

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June 12, 2018, 04:26:58 PM
 #8

I would not mine cryptocurrencies on something worth > 500$ with some possible earnings of 2 cents per day
but Apple should not care about what their customers are doing with the product,what the hell

especially this part what shocked me:
5- Cryptocurrency apps can’t offer users virtual coin for tasks like downloading other apps, getting other users to download the app, or boosting social media activity

what the actual hell? why would Apple care
I can only assume that Apple has more surprises like the CPU slowdown if the battery loses capacity
and if a user mines alot,he could find out,to his surprise,that the phone is slowing down after a month or so


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June 12, 2018, 10:18:11 PM
 #9

I would not mine cryptocurrencies on something worth > 500$ with some possible earnings of 2 cents per day
but Apple should not care about what their customers are doing with the product,what the hell
Indeed, thank you Apple for the device, since I bought it now, then it is mine and I am free to throw it in the ocean if I like to do so!



I can only assume that Apple has more surprises like the CPU slowdown if the battery loses capacity
and if a user mines alot,he could find out,to his surprise,that the phone is slowing down after a month or so
Now this is a good remark, people will start complaining more if they find out that Apple is cheating  Sad

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June 12, 2018, 10:54:22 PM
 #10

One thing that needs to be clear about mining using low power devices is that it often was not mining. It's just airdrops.

Yes, they distribute coins and call it mining. Just so that people have some sense of earning and publicize the project. Other times are just forks with some modifications whose goal is to do a pump and dump.

No serious project could be suitable for mobile mining.


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June 13, 2018, 02:38:59 AM
 #11

I would not buy a high-end Iphone just to use it on mining purposes. There are other choices out there and it's not a great loss if Apple implements it. Iphone's purpose is just really for having that "impression" and that's all.

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orions.belt19
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June 13, 2018, 04:13:06 AM
 #12

I'm not someone that advocates for mining on every single device you can get your hands on, but it would seem pretty disgusting for Apple for take a "Stand" against cryptocurrencies for seemingly no reason. If anything, mining on their phones could potentially increase sales, or spike the price of older models back up. It seemingly provides more value to their products if you allow people the freedom to use it as they please. They shouldn't limit the usage of the hardware they're providing.

I am well aware that mining on an iPhone is beyond worthless, but people are doing it significantly enough for Apple to do something like so. That's where I'm drawing my conclusions from.

Apple must have wanted to be on the safe side for now so they didn't want to have anything to do or contribute to crypto. The publicity of crypto is dubious and being involved with it may either bring good or bad publicity. With a bunch of news saying that people have been losing money from bitcoin/crypto, this may give others the wrong idea. It's practically useless anyway since mining through iPhones may not do much but it's more of Apple making a stand.
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June 13, 2018, 08:03:16 AM
 #13

I wonder who those people are, who are interested in mining cryptos on their apple devices. It sounds hilarious to me, as to why this irrelevant ban has been made. ROFL.... APPLE
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June 13, 2018, 08:18:48 AM
 #14

I think we all know by now that Apple is doing this because they are just protecting the longevity of their device. We have seen the Bend Gate and now the Battery Gate which Apple confirmed that they are limiting the speeds of their older models in order to protect the battery life of the phone. I have tried mining with my phone but just like any Benchmark Application it is pushing the phone to its limits the only difference is Benchmark Test only stress your phone for a couple of minutes, mining with the phone is different as you are the one who has control and it will take more time then a benchmark test, and it really makes the phone so hot during the time it is mining and heat really depletes the health of the phone.

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June 13, 2018, 02:36:24 PM
 #15

As a leader in the field of electronics nowadays, I'm a bit hard to see why it made such a decision. Does it think that the blockchain will affect its status?
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