Today is Mon, July 28, 2014 18:27:10 GMT
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Currencies BitCoin iPhone Users Smash Devices on Apple Bitcoin App Ban

After ranging between 810 and 785 for almost a week, bitcoin prices finally fell through the support level. After clearing the orders around 785, BTC/USD fell to as low as 760.50 on BTC-E. One bitcoin currently trades at $767 at the exchange.

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After narrowing to only 120 points yesterday, the so called ‘’MtGox premium’’ narrowed further today. A bitcoin currently costs $856 on Gox and $777.76 on BitStamp, a difference of only 80 points. Liquidity at MtGox looks somewhat thinner today, the bid ask spread is currently 14 points wide, 842 bid / 856 ask.

Apple removed the popular Blockchain wallet app from its App Store yesterday. This left iOS users without any bitcoin wallet options for their devices. The company has had a long standing policy of banning bitcoin wallet apps. As would be expected, the decision was met with harsh criticism not only from Blockchain.info but from the bitcoin community in general.

’’The app had no customer complaints, and a broad user base. The only thing that has changed is that bitcoin has become competitive to Apple’s own payment system. By removing the Blockchain app, the only bitcoin wallet application on the App store, Apple has eliminated competition using their monopolistic position in the market in a heavy handed manner.’’ :  Blockchain said in a statement posted on their blog.

Right after the decision the user <round-peg> posted the following offer on Reddit:

‘’ For every 100 upvotes this post receives, I will gift someone a Nexus 5 for a video of them smashing their iPhone’’.

Interested? Here are the conditions for the offer:

I will do this for up to 500 upvotes (5 devices). First-come first-served.

Criteria:

1) The device must be an iPhone 5 or 5S running iOS7.

2) The video must be uploaded to YouTube and be publicly accessible.

3) In the video you must show your face, state your name and why you’re smashing your iPhone. Your reason should include the fact that Apple is anti-bitcoin, not just because you want a free trade for a new phone. Then load this post and upvote it from the device. Then smash it. It must be obviously destroyed beyond repair and function. Get creative!

4) Post the video link in this thread

To deflect criticism that the device could be donated to charity instead of being destroyed, <round-peg> has said that he will buy a Moto G for each destroyed iPhone and donate it to charity. The offer looks legit, the funds have been escrowed and according to the reddit thread, the first iPhone has already been smashed. Here is a link to the video.

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