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Bitcoin historical data reveals strategy to pick the right iPhone 13

As Apple unveils a wide range of iPhone 13 models this week, crypto enthusiasts can benefit from a data-driven strategy.

Bitcoin (BTC) and Ether (ETH) historical data make selecting the right Apple iPhone 13 model quite easy for crypto enthusiasts. 

Apple unveiled four different smartphone models on Sept. 14, the iPhone 13 and iPhone 13 mini with a new camera layout as well as the Super Retina XDR display-bearing iPhone 13 Pro and iPhone 13 Pro Max, each with several storage options.

With so many different models available in a wide price range, it becomes hard for customers to pick a specific model as a replacement for their current gadget. For crypto enthusiasts, though, historical market data on top cryptocurrencies makes the selection process a piece of cake.

On average, customers use their smartphones for almost three years before replacing them with a new one, according to a Statista study. In other words, there’s a good chance that a consumer who’s looking to buy an iPhone 13 nowadays owns a phone purchased during the Christmas Sale in 2018.

Assuming they also purchased an iPhone model back then, for the sake of comparison, it means they had options to buy a then-brand-new iPhone 8, 8 Plus, iPhone XR or iPhone Xs. Apple’s 2018 product family's initial prices were $599, $699, $749 and $999, respectively.

There’s a $400 price gap between the base model and the high-end iPhone, excluding the $100 pricier iPhone Xs Max model. The same price gap would translate into 0.1 to 0.13 BTC if the purchase was made in December 2018. That means if a crypto enthusiast made the right call and went for the base model in their previous purchase, they’d have enough savings today ($4,800 to $6,200 at the time of writing) to buy several high-end iPhones.

Related: Still too early to know if Bitcoin will remain top dog, Wall Street vet says

Ethereum fans could even benefit more from the “buy the base, spend the rest on crypto” strategy by purchasing 3 ETH almost three years ago, which equals 10 iPhone 13 Pro Max devices at the time of writing.

Depending on the selected cryptocurrency, yields vary dramatically. For example, Binance Coin (BNB) was just over $5 at the start of December 2018, while Dogecoin (DOGE) was worth 0.00225, meaning investments made in some coins centupled in three years. But one thing is clear: top cryptocurrencies age way better than premium gadgets in terms of market value.

Korean Finance Minister vows to fight moves to delay the crypto tax code

Apple app store reportedly blocks Gnosis Safe wallet update for hosting NFTs

Apple has barred Gnosis Safe from applying an app update unless the firm provides access to NFTs as an in-app purchase.

The Apple App Store reportedly blocked a Gnosis Safe crypto wallet app update due to it hosting NFTs that weren’t purchased inside the app.

Lukas Schor —a product developer at Ethereum-based crypto wallet provider Gnosis Safe — revealed the firm ran into trouble when it submitted an updated version of its app to the IOS app store earlier this month.

Schor noted on Sept. 14 that despite the update having nothing to do with non-fungibles, the App Store flagged a sample image that displayed an NFT in the app’s description section, even though it had been up for “many months.”

While the app is still listed in the store along with the image displaying the NFT, it appears that Apple is blocking the update due to its guidelines around digital content.

According to screenshots he shared of Gnosis’ correspondence with Apple support over email, the tech giant stated that while “NFTs are not mentioned specifically” in its guidelines, apps are not allowed to provide access to “previously purchased digital content” bought outside of the app store.

This essentially means that apps cannot provide any NFT-related services unless they are integrated with Apple payment methods.

“If you choose not to implement in-app purchase, it would be appropriate to revise your app so that does not access previously purchased digital content,” the email concluded.

Schor stated that Gnosis will submit an appeal over the decision as he called on Apple to clarify its guidelines around NFTs. He also suggested that the firm has no plans to walk back its NFT support in its app:

“Permissionless access to Web3 is core to our values, so we are willing to go the extra mile to clear this up. Simply removing NFTs from our app is definitely not an option for us.”

Apple currently prohibits the inclusion of payment rails beyond those offered by the firm in apps listed in its store. While Gnosis doesn’t sell NFTs in its app, Apple charges a flat 30% commission of in-app purchases of digital goods and services.

This policy may not last for much longer however, as Judge Yvonne Gonzalez Rogers issued a permanent injunction in the Epic Games vs Apple case on Sept.10 that will potentially see a major change to the app store.

Epic Games, the creators of widely popular online game Fortnite built its own in-game payment system last year to circumvent Apple’s in-app payment system, which resulted in the game being delisted from the App-store.

In August 2020, Epic took legal action against Apple and specifically took aim against the firm’s in-app payments policies.

In Judge Rogers’ first ruling on the case on Friday, she issued an order for Apple to allow alternate payment options in apps listed on its store, with the injunction set to go into effect on Dec. 9, 2021 — unless it is enjoined by a higher court.

Korean Finance Minister vows to fight moves to delay the crypto tax code

Multi-Billion Dollar Financial Services Firm Lloyds Looks to Hire a Digital Currency Expert

Multi-Billion Dollar Financial Services Firm Lloyds Looks to Hire a Digital Currency ExpertLloyds Banking Group, the British parent company of Lloyds Bank, is currently hiring a “digital currency [and] innovation senior manager,” according to a recent job listing posted to BYP Network. Lloyds is one of the largest financial services firms in the world with close to $500 billion assets under management (AUM). The new digital currency […]

Korean Finance Minister vows to fight moves to delay the crypto tax code

Coinbase users can now buy crypto with Apple Pay

Coinbase has added additional user-friendly payment options to its platform.

Crypto exchange Coinbase announced on Thursday that users can now use Apple Pay to purchase crypto assets on its platform, with Google Pay integration to follow.

“Today we’re introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and Google Pay, and instant cashouts up to $100,000 per transaction available 24/7,” said a Coinbase blog post on Thursday.

“If you already have a Visa or Mastercard debit card linked in your Apple Wallet, Apple Pay will automatically appear as a payment method when you’re buying crypto with Coinbase on an Apple Pay-supported iOS device or Safari web browser,” the Coinbase blog post mentioned. 

Coinbase expects to enable Google Pay functionality “later this fall.”

In the same post, Coinbase announced “instant cashouts via Real Time Payments (RTP), enabling customers in the U.S. with linked bank accounts to instantly and securely cash out up to $100,000 per transaction.”

Digital asset exchange Gemini made a similar move back in April, integrating Google Pay and Apple Pay cash transfer options on its platform.

This story is developing and will be updated.

Korean Finance Minister vows to fight moves to delay the crypto tax code

Steve Job’s Physical Job Application and Mirror Copy in NFT Form to Faceoff on the Auction Block

Steve Job’s Physical Job Application and Mirror Copy in NFT Form to Faceoff on the Auction BlockIn another world-first for the non-fungible token (NFT) space, Steve Job’s handwritten job application letter in its physical form and an accompanying digital NFT of the same item will go head to head in respective auctions. Auction to Expose How Collectors Value Different Formats As NFTs continue to push the boundaries of possibilities, whether introducing […]

Korean Finance Minister vows to fight moves to delay the crypto tax code

A decentralized app store might lead crypto toward more centralization

On the inevitable journey into the mainstream, crypto might replace one gatekeeper with another. Are we ready for this sacrifice?

The estimated windfall Apple got from its App Store in 2020 is $67 billion. That’s up from $50 billion in 2019, a 28% increase. Even as the company has lowered its commissions for smaller developers, the App Store remains a major component of Apple’s bottom-line profits. And it’s not just Apple taking a cut of developer revenue: On Android, the world’s most popular mobile operating system, the Google Play Store netted $38.6 billion in 2020.

That’s over $105 billion in revenue from the top two app stores combined. It’s no wonder that regulators in many countries are closely considering whether there is sufficient competition in the marketplace. So it should come as no surprise that Coinbase, America’s most visible and well-known crypto exchange, also wants to be the on-ramp to the decentralized application economy.

But what do we sacrifice when we replace one gatekeeper for another? Does it jeopardize the decentralized ethos and accessibility for all that’s sacred to many crypto believers? These are important questions worthy of discussion as we build on our momentum and push further into the mainstream.

Related: Decentralization vs. centralization: Where does the future lie? Experts answer

The 80/20 rule

Vilfredo Pareto had it right with his 80/20 rule: 80% of revenues comes from 20% of customers. However, in the case of Apple’s App Store, it’s more like the 95/2 rule: 95% of revenue comes from the top 2% of apps.

Let’s assume that a decentralized application (DApp) store would reflect a similar reality, where the most successful apps generate the most revenue. That means any DApp store that managed to secure the most popular apps would have a huge advantage. The most well-funded platforms would spend lavishly to gain exclusivity and secure gatekeeper status. Then, anyone that wanted to access the top apps would need to go through that gatekeeper.

The monopolistic elements of any app store are what make the economics so lucrative. If you own the rails, you own the profits — it’s that simple.

But the 80/20 rule shouldn’t extend to Web 3.0 economics. Rather than many profits for the few, it’s many profits for many more, with users participating in the governance, growth, maintenance and daily operations of the ecosystems they favor. The ownership aspects of the Web 3.0 economy distribute rewards to ecosystem participants more evenly based on their contributions. It’s a more balanced dynamic that proposes a new way to do business.

Related: Is a new decentralized internet, or Web 3.0, possible?

Building the Web 3.0 DApp store

What will it take to ensure truly decentralized distribution for DApps? We’d need a DApp store that meets a few criteria:

  • Governance — first and foremost, a DApp store would be run by the community. There would need to be a decentralized autonomous organization to vote on all governance issues, such as commissions, security, etc.
  • Ownership — profits would be distributed to the community according to its governance structure. There would also need to be funds reserved for the organization to manage app verification, secure the system and maintain the community.
  • Tokenomics — there’s an opportunity to do some very interesting things around incentivizing developers to use the platform exclusively and do other key tasks like support the distribution infrastructure and other essential technologies.
  • Interoperability — users should be able to move freely between different DApp stores, taking their apps (and their data) with them. There can be no one DApp store to rule them all.

Related: Game theory meets DeFi: Bouncing ideas around tokenomic design

Apps are the center of the digital economy, something that will continue as we progress toward Web 3.0. The on-ramps into decentralized finance, nonfungible tokens and other emerging digital assets require mobile access points that bridge the gap between those who have laptops and those who only access the internet via mobile devices.

We’re in the midst of the transition from Web 2.0 to Web 3.0. While gatekeepers remain in positions of strength, they will continue to pursue user growth alongside decentralized protocols looking for access points to new users.

When we’ve truly transitioned into Web 3.0, we’ll likely see DApps that serve smaller niches than they do today. We’ll see a vibrant ecosystem of DApps that are more focused and developed by compact teams.

Related: How NFTs, DeFi and Web 3.0 are intertwined

We’ll also see apps deconstructed into component parts. For instance, a decentralized exchange will be deconstructed into several layers: the user-facing front-end, the aggregator back-end and the liquidity provider as infrastructure. It’s akin to the “monolith to microservices” evolution in the software cloud infrastructure space.

Without true decentralization when it comes to apps, we’ve simply replaced one gatekeeper for another. The key here is going to be the community’s commitment to supporting a diverse array of app store gateways.

What’s at stake?

The risk is that, on our inevitable journey into the mainstream, convenience and ease-of-use will trump decentralization. In fact, that’s often why centralized gatekeepers emerge: they make things less complicated, which in turn makes things more accessible to the masses.

As the crypto community works together to build a thriving digital asset economy that benefits the majority, we must all keep these tradeoffs in mind. We absolutely must make digital assets easy to understand and accessible while also pushing back on any arguments that centralizing power in the hands of the few is a worthy tradeoff on the fast track to the mainstream.

We can — and should — push back to protect what makes our shared vision so powerful: a future that’s accessible to all.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Diane Dai is the co-founder and chief marketing officer of DODO, a decentralized digital asset exchange based in Singapore. She is a pioneer in the Chinese DeFi community and has extensive experience in marketing, social media management and business development. Prior to founding DODO, she spent time at DDEX and CypherJump.

Korean Finance Minister vows to fight moves to delay the crypto tax code

Bitcoin may have played a role in Tesla’s decorrelation from Big Tech

The 20-day correlation between Tesla stocks and the Nasdaq 100 index has sharply dropped from 0.83 in mid-June to 0.14 as of this week.

Market analysts are arguing that Tesla's exposure to Bitcoin (BTC) may be the reason for its sharp decorrelation from Big Tech in recent weeks. As of Wednesday, July 14, the 20-day correlation between the company's price and the Nasdaq 100 index has dropped from 0.83 on June 17 down to 0.14. 

Whereas Tesla has shed almost 4% this month, the Nasdaq 100 is up by over 2%. Weakened correlation between Tesla shares and the NYSE FANG+ index is also observable, as BNN Bloomberg reported. Amy Wu Silverman, a derivatives strategist at RBC Capital Markets, told reporters:

“Tesla is highly correlated to megacap tech [...] this relationship has really decoupled in the near term. When I ask around, the feedback I get is that this is related to their Bitcoin exposure and how it will have to be accounted for when they report earnings.”

The EV maker's earnings report is due July 26. Tesla's eventful and controversial relationship with Bitcoin dominated headlines — and arguably catalyzed a crypto market bull run — in February of this year, when the company disclosed a strategic acquisition of $1.5 billion worth of Bitcoin, worth 7.7% of its gross cash position at the time. It soon announced it would begin accepting BTC payments for its vehicles, indicating plans to hold, rather than convert, the Bitcoin. 

The company sold a portion of its Bitcoin in Q1 2021, generating net proceeds of $272 million, although Musk was keen to stress he had not himself sold any of his own BTC holdings. By May, the close link between Tesla and the veteran cryptocurrency began to unravel, with Musk announcing Tesla would be pulling back from BTC payments acceptance due to environmental concerns about energy-intensive Bitcoin mining. 

Related: Elon Musk and Bitcoin: A toxic relationship

Time will tell whether Tesla's near-term weakened correlation with Big Tech stocks will become an established dynamic. In the crypto space, many have been more focused on the oversized impact Musk himself has had on the crypto market as a whole, most strikingly when it comes to Bitcoin and the meme cryptocurrency, Dogecoin (DOGE).

Korean Finance Minister vows to fight moves to delay the crypto tax code

Apple Cofounder Steve Wozniak Says Bitcoin Is a ‘Mathematical Miracle’

Apple Cofounder Steve Wozniak Says Bitcoin Is a ‘Mathematical Miracle’Presenting at the Talent Land Jalisco 2021, Apple cofounder Steve Wozniak called bitcoin an “amazing mathematical miracle.” Wozniak said he’s not a bitcoin investor per se, but “believes in it for the future.” Steve Wozniak Is Not Necessarily Invested but Still Believes Bitcoin Is an ‘Amazing Mathematical’ Creation Apple cofounder Steve Wozniak is a fan […]

Korean Finance Minister vows to fight moves to delay the crypto tax code