What will they think of next? Soon if you want to accept credit cards at your garage sale there will be an app for that. A project named Square is now in alpha testing and expects to allow iPhone users to process credit card transactions for a fee.

The money transfers directly to the bank account of the merchant and the purchaser receives an email receipt. As seen in the photo from Cool Hunting above, the credit card reader is an accessory that simply plugs into the headphone jack of the iPhone or iPod Touch.

Apple released the iPhone OS 3.0.1 firmware update the other day to fix an SMS security flaw. This has rendered purplera1n useless, and creator Geohot has abandoned the project for now. That being said, redsn0w from the iPhone Dev-Team still works.

There's one thing to look out for when using redsn0w to jailbreak 3.0.1. After updating to the official 3.0.1 through iTunes, running redsn0w will ask for the IPSW file to use for jailbreaking. Select the 3.0 IPSW, not the 3.0.1 version you just installed. For owners of the iPhone 3GS or a newer 3G, you may not already have this file.

Apple has released version 3.0.1 of the iPhone OS software. This fixes the recently revealed SMS security flaw. The security hole was illustrated on Thursday by Charlie Miller at the Black Hat 2009 conference in Las Vegas.

iPhone owners can download and install the 3.0.1 update using iTunes immediately. Left unpatched, the problem makes it possible for iPhones to receive malicious binary programs through SMS messages without the user's knowledge.

We've seen how to paste full-resolution photos into email using iPhone OS 3.0. The latest reported changes to firmware 3.1 will allow even more functionality by making it possible for users to paste full-resolution video directly to email.

As seen in this video, it's a simple process. Just hold down and use the copy function, then switch to email and paste. This feature is illustrated using iPhone OS 3.1 beta 3, which was just released this week.

A massive iPhone security flaw was illustrated on Thursday by Charlie Miller and Collin Mulliner at the Black Hat 2009 conference in Las Vegas. Word of the demonstration had been brewing for days, however Apple has remained silent on the issue.

The problem makes it possible for iPhones to receive binary programs through SMS messages without the user's knowledge. These programs can then give someone using the exploit complete control over the device.