If anything, I suspect that Coinbase intentionally violated the rules with this update so that it can sign on with Epic and Twitter in the fight against Apple.
edit: for those paying a broker fee, does Apple even take 30% of that?
yeah arguably if apple wanted to say "you're doing a forex trade in app, TD Ameritrade makes $10 in fees on that $20k transaction, we deserve $3 of that, and it needs to be paid via our IAP scheme" that's a consistent application of their rules at least.
again though, coinbase's PR department is doing what PR departments do, they've got you talking like coinbase would be charged 30% of the whole transaction and that's not actually what Apple is saying here... just like it turns out Qualcomm may not have been entirely honest about ARM's licensing changes and many of the specifics of EVGA's complaints are highly misleading or specific to their (atypical) business model, despite a generally-correct thrust.
Like, kinda funny that grown-ass adults don't understand that a literal PR department might not always be presenting the situation entirely fairly... and this is a business community we're discussing that in, no less. You need to apply critical thinking about why someone might be saying things now, and why they're saying them in that particular way... they're happy to lead you into a wrongful conclusion even if they themselves haven't said anything technically wrong: that is the conclusion they intended for you to draw and you consumed the information uncritically and you did draw that conclusion. They walked you right down the garden path there, give that PR guy a raise.
Just like Sony can argue for app-store openness on Apple's platforms but argue they shouldn't have to open their own platform to competitors too... they want to keep their 30% cut but force their competitors to give up theirs. And no, consoles are not sold at a loss anymore, PS5 hit hardware profitability around 6 months after launch...
Apple was never going to allow the blockchain to remove their 30% cut on these purely digital items, as much as crypto folks preached that the blockchain would remove us from the shackles of App Store IAP payments.
For anyone who understands how NFTs and blockchains work, this is clearly not possible. Apple’s proprietary In-App Purchase system does not support crypto so we couldn’t comply even if we tried.
This is akin to Apple trying to take a cut of fees for every email that gets sent over open Internet protocols.
No, only the ones sent using their hardware. And I think there’s no law or regulation that would forbid them from doing that.
Similarly, if, currently, the App Store model doesn’t support what Coinbase wants to do, they shouldn’t have made an app.
(this isn’t a statement about the desirability of the current situation)
Apologies if I'm misunderstanding, but are you saying my iPhone belongs to Apple?
(I may be confused by how you mean "their hardware".)
> No, only the ones sent using [an app distributed via Apple's App Store].
I don't want to speak for anyone, but that's (probably) more accurate to the intended meaning.
They're lucky that the US has the particular form of "democracy" that they do, because I suspect the current regulations aren't exactly "the will of the people".
Oh, wait, they can just pay in dollars. I don't think that Coinbase has their problem solving hat on :)
Trading volume has been falling 30-44% every quarter:
https://s27.q4cdn.com/397450999/files/doc_financials/2022/q3...
https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2...
https://s27.q4cdn.com/397450999/files/doc_financials/2022/q1...
so I'm thinking they don't have a product and they know it. This NFT product was supposed to be so hot their servers couldn't take it!
https://www.gfinityesports.com/cryptocurrency/coinbase-nft-w...
so what gives? I think someone is lying here. Maybe even bad enough someone could get fired if this doesn't get turned around. And if that's the case, it seems plausible to me that someone looked at 30% of "their" revenue going to Apple and just said fuck it.
This is not an in app purchase, IMO.
Exactly, the dumb/risky thing to do would be to make a special exception for Coinbase. This is no different from a consumer buying Robux to spend on a 3rd-party game.
This is more like your stock broker app letting you buy a stock, although "cryptocurrencies aren't securities, they're speculative assets". So maybe more like buying art via an app.
https://web.archive.org/web/20221030193939/https://developer... (search for NFT in the page).