Rumors are flying around Twitter that the new iPhone 5 may cost $800. The rumors, which have taken over Twitter trends, has people outraged.

On Thursday, a rumor suggesting that the new iPhone 5 will cost people the ridiculous price of $800, started spreading around Twitter. It is not clear how the rumor started as no reliable sources have confirmed the high price.

The top trending topics #800DollarsForaniPhone and 'iPhone 5 $800' have taken over the social network  as thousands of people around the world discuss the possibility. 'Siri' and iPhone service provider 'AT&T' are also trending topics in some parts of the world

However the possibility of paying $800 for the upcoming iPhone is making people angry. Several tweets have been going around saying that for $800, the iPhone should be able to perform miracles.

@Tedd_2Fearless wrote "#800DollarsForAniPhone It better be doing my homework for me... and show ALL the work!"

@London_Foote wrote "Siri better find who killed biggie and pac."

@DefinitelyaDbag hopes that an $800 iPhone comes  with a Magic Mike star. He wrote "#800DollarsForAniPhone It better transform into Channing Tatum."

A popular tweet by @JAMESSEEKINGS read "iPhone 5 $800? It better be bulletproof, waterproof, damage proof, dirt proof and also fireproof. Siri better twerk on demand too."

The rumor may have started due to screen shots on the site GamenGuide as they show a website that is selling the iPhone in China for price tag of $5,088 to $6,688, which  is the Chinese equivalent of 800 to 1,050 United States dollars.

The Chinese site is Taobao, an auction based site, so people are putting a high price on the in-demands, not yet released iPhone 5. One seller "Dahai99888" is asking for (the approximate value) $1,100.

Hopefully people won't fall for such scams and pay and out of control price. After all, it's just a phone.

An even less reliable source on a article from July 20 comes from a commenter who made a prediction that the iPhone 64 GB will probably cost between $800 and $900, not including taxes.

Despite them being rumors, the $800 iPhone price might not be so unbelievable. On the UK Apple Store website, an unlocked iPhone 4S with 64gb of memory is going for £699, or $1,087.

However, for now, the price is just a rumor. Apple has been very secretive about the iPhone 5 and has not confirmed any of the rumors that have been flying around, including the predicted release date of September 21, which is said to be announced on September 12.