First-generation iPhone owners who’ve upgraded to the new iPhone 3G have a problem on their hands — what will they do with their old iPhones? The issues surrounding that question involve practicality, friendship, insurance and cold, hard cash. Basically, it comes down to several options, each of which has its own little quirks, pitfalls and opportunities. You can give it away, sell it, jailbreak it or turn it into an iPod touch. The first option is to give your first-generation iPhone away to a friend or family member, and from what I hear, this is one of the more popular solutions.