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Programmed Macs since Inside Mac came in 3-ring binders; programmed iPhones since the first day the SDK was downloadable. 51 apps in the App Store to date, and always looking for new and interesting contracts! Alex is a DZone MVB and is not an employee of DZone and has posted 143 posts at DZone. You can read more from them at their website. View Full User Profile

Monetizing Your iOS Apps with Bitcoin

11.15.2013
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Now here’s a truly novel approach to monetizing your apps:

New Plugin Allows Developers to Turn iOS Devices Into Bitcoin Mining Bots

Unity plugin developer Icoplay has come up with a new way for developers to monetize free apps on the App Store while avoiding in-app purchases, through the use of bitcoin mining.

Because new bitcoins are generated via complex math problems, Bitcoin mining requires an incredible amount of processing power. Icoplay is aiming to use mining software hidden within apps and games to take advantage of the latent processing power of mobile devices, rewarding the developer with bit coin…

Mind you, the economics don’t seem to make any sense. Checking the latest stats,

Bitcoins Mined — 3,525 BTC

Electricity Consumption — 55,866.44 megawatt hours

we’re somewhere in the range of 16 megawatts per Bitcoin. Takes an awful lot of iPhone 5.5-odd watt-hour charges to add up to one of those. And somewhere in the region of $2300 of electricity. Which would only produce you a couple cents per user-year expected return, at best, and burning out a couple dozen Li-Ion batteries along the way. That would seem to put the usefulness of this somewhere between “laughably negligible” and “wasteful on a scale qualifying as downright evil.”

But hey, if you want to give it shot, check out their FAQ; maybe if you’re really super lucky, you’ll earn enough to buy a coffee in the trendy places around town here sprouting Bitcoin ATMs these days!

Published at DZone with permission of Alex Curylo, author and DZone MVB. (source)

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