Update – Instagram has released a statement clarifying that they will use your profile image, not the images you create, for advertising purposes and will be rewriting the TOS to make them more clear. Personally, I like the interface/features of Flickr better so I’m staying there for now.
There’s a lot of talk going on about the new Instagram Terms of Service. I suggest you go read the New York Times Bits entry on the subject. One thing the NYT article fails to discuss, is the new policy that Instagram can sell your stuff. This new policy was brought to my attention by this CNET article I saw this morning.
In light of this, I’m quitting Instagram. I really didn’t use it a ton, and now I won’t be using it at all. It had already lost some of its usefulness when Twitter pulled the preview. But calling sell rights on my images is where I draw the line.
So long Instagram. It’s been fun.