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My first thought was the blackmail possibilities inherent in this app if it happens to get compromised in some way.
My second thought was Stross' The Fuller Memorandum and how "Bob" went on about it being the "JesusPhone", possessed of a class-four glamour that endowed it with its own Reality Distortion Field™ and made it look like it could walk on water.
For what it's worth, I do kind of want an iPhone. But not enough to lease my soul into bondage to the local telcom for the next few years.
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