Twitter CFO - Twitter to allow tips in crypto

[Poker Player]

This is one more step towards a world where crypto payments are going to be accepted everywhere. Today things like this are still newsworthy, but we are transitioning to an increasingly digital world, and people are using less and less cash. In 20 years time, paying or sending crypto tips on any site will be as normal as sending a Whattsapp message.

[Reid]

Uh oh, sorry Facebook. 
If I remember correctly there is also one website that tips people from making good articles. Was it Steam or Stream? I forgot.
They use Bitcoin as means of tips and its actually good for writers who are really not paid and doesn't have any advertisements in their blogs.
This will change a lot in social media industry for many subscribers will try to input more meaningful and useful tweets rather than on the cursing side.

[josephdd1]

I see that twitter is interested a lot in crypto. Twitter has already introduced a bitcoin tip service that allows users to send other users tips on their content using BTC. In addition to that, Twitter is creating its own cryptocurrency team, aiming to become part of a decentralized Internet. In the short term, the company is actively exploring ways to create content for cryptocurrencies and "decentralize social networks". The company is making quick and confident steps in the direction of blockchain, apparently they want to be in the top before it becomes mainstream among social networks.

[oHnK]

That is great news for us. The biggest social media after Facebook to allow tips on Twitter. This reminds me when I was active on Twitter, there used to be a Tipping Service called ChangeTip. ChangeTip very popular on Twitter and benefited its users in using the service. But ChangeTip services have been discontinued since 2016.

Twitter's interest in crypto is nothing new, as many similar companies have already done so and have already benefited from their new policies.  Twitter currently doesn't have any significant updates at all, so with crypto being a pretty good movement, users from 5 years ago until now definitely don't feel anything different from Twitter, so that in the future they will catch up.

[Saint-loup]

The Twitter management has been quite open in its support for cryptocurrency (unlike some of the other social media platforms such as Facebook). That said, I don't know whether they will be allowed to implement their plans. Facebook had a tough time in convincing the House about their plans for Libra/Diem. Finally they had to shelve their plans. The concern from the senators was that cryptocurrency is anonymous and can be misused. If Twitter goes ahead with their plans, they will be facing the same questions, from the same people.

The Facebook Libra case has nothing to do with the Twitter one. Twitter is just using a cryptocurrency (Bitcoin) fully legal and allowed in many countries around the world, to send some tips to users. While Facebook wanted to create a new global currency directly competing with the US Dollar.

[oHnK]

After commenting positive comments on Crypto for the development of its business in relation to e commerce. At present, the direction of CFO Twitter's talk becomes not well structured. On the one hand he talked clearly Crypto could support the direction of their business on social media while this new recently, CFO Twitter said investing in Crypto is currently unreasonable for the reason for its volatility. According to his very volatile so it has more securities than crypto.

https: //www.wsj.com/articles/twitter-cfo-says-investing-in-crypto-doesnt-make-sense-right-

[fiulpro]

Only the other day we were talking about this in a thread when Twitter declared the development team. Facebook went into this "Markets" thing and made a mess of it with their cringe videos and shitty news feed. I think Twitter will definitely do a better job with this.

It'll be tips, streaming payments and a lot else. This also looks like it'll be the first widespread deployment of the Lightning Network. As far as the competition with respect to Metaverse is concerned, I don't think facebook stands a chance against Twitter. They have two very different value systems. Facebook wants to control you and insulate you from everything else. Twitter only wants you to connect and shout from the rooftops. It is obvious where the kind of people who are interested in Metaverse will converge. On Twitter, this will continue to be community-built and open source. Nobody needs Meta, really.

Twitter is a more open community and at the same time I do think we have to understand the fact that Facebook have already lost the race and they have dealt with privacy in the worst way possible therefore when they would be dealing with cryptocurrencies whose primary idea was to give users a private space.

I do think that metaverse instead of investing their into other cryptocurrencies might try and create theirs which would eventually be a big fail.

Tipping users in cryptocurrencies might help in more adoption, users might not even know anything about cryptocurrencies but they might have to download a wallet and learn, it would stir up their interest for sure!!

The Bitcoin tip service might be one of a kind on social media platform! Let's see how it works tho.

[macson]

once again twitter shows its heavy support on bitcoin, it makes twitter as the best social media platform in the world IMO.  i'm pretty sure other social media will follow in Twitter's footsteps and try to adopt cryptocurrency for tips.  meta is far behind lol

[jaberwock]

Twitter CFO stated unambiguously that crypto is now a way to tip accounts that you follow, no quite as focused as a Patreon yet allowing to put your money where your "follow" is. This also seems a first step to facilitate commerce in Twitter in general, which would call for a wider adoption case.

Adoption by the FANGS and similar may become a good use case supporting the already existing cases for bitcoin. See here a how to on this

This is quite a cool idea, although I’m still wondering how they’re going to implement this feature on their platform. Is Twitter going to serve as an escrow for this feature, take for example when followers send a token to the person they are following, so I guess Twitter now hold the cryptocurrency in their possession until the person is ready to withdraw it?

And since you’re talking about this facilitating commerce on their platform, how exactly are they going to go about that, because when it comes to commerce, doing business with cryptocurrency is kind of a huge risk, so do they have any plans on how to go about that? The risk part of crypto currency for E-commerce has been one of the reason why a lot of people steer clear from making use of it in making purchases online. So I am hoping that they come up with an idea that will serve as a solution for this issue.

[Leviathan.007]

According to Wallstreet journal, Twitter CFO Says Investing in Crypto ‘Doesn’t Make Sense Right Now’ for the record, the Twitter team show us that they are friendly with bitcoin and they said the word many times and there are many crypto billionaires there such as J.Dorsey they allow and accept bitcoin in their platform and the demand of cryptocurrencies can be a good reason time after time more companies will do the same thing but the whole point about the Twitter CFO is I cannot fully trust on one word from him or anyone else because one day they are crypto-friendly and the other day they will become crypto haters.

[AmoreJaz]

According to Wallstreet journal, Twitter CFO Says Investing in Crypto ‘Doesn’t Make Sense Right Now’ for the record, the Twitter team show us that they are friendly with bitcoin and they said the word many times and there are many crypto billionaires there such as J.Dorsey they allow and accept bitcoin in their platform and the demand of cryptocurrencies can be a good reason time after time more companies will do the same thing but the whole point about the Twitter CFO is I cannot fully trust on one word from him or anyone else because one day they are crypto-friendly and the other day they will become crypto haters.

expect that they will change their tune from time to time, and we don't know their ulterior motives here. who knows, with btc going down, they are silently accumulating their own btc stash? so yes, we can't trust them what they are saying in public because we don't know what they are doing behind, where no one is lurking around.
they are like JP morgan, remember? before, they are anti-bitcoin, and you will read next, they are speculating btc to be over 100k.

[oHnK]

According to Wallstreet journal, Twitter CFO Says Investing in Crypto ‘Doesn’t Make Sense Right Now’ for the record, the Twitter team show us that they are friendly with bitcoin and they said the word many times and there are many crypto billionaires there such as J.Dorsey they allow and accept bitcoin in their platform and the demand of cryptocurrencies can be a good reason time after time more companies will do the same thing but the whole point about the Twitter CFO is I cannot fully trust on one word from him or anyone else because one day they are crypto-friendly and the other day they will become crypto haters.

His remarks had a bad impact on the market even though we all know that if they are connected they are not very significant.  However, the CEO and CFO do not show a consistent attitude.  Whatever the purpose behind this, I hope they don't follow in the footsteps of Elon Musk who has had an effect on BTC several times.  Until we are fairly stable, only the CEO of MSTR has a view, especially when the price trend of BTC and other cryptos is going down, those who are serious about supporting crypto for their business should give words that are supportive, not down.

[aysg76]

Sure, I just wonder if it'll be used much, if at all.  Reddit had or has Reddcoin for tipping (if I'm not mistaken), and they've had the dogecoin tipbot, but I'm really not sure people are going to want to give up their bitcoin or any other cryptocurrency in order to say they like a tweet, FB video, or anything else.  Simply having a "like" button or a thumbs-up one is a much cheaper option.

Yes they have silver,gold and platinum coins which can be awarded to some good post and later on they can use them.Suppose you like a post and you want to reward them then you need to spend funds for it and the gold,silver or platinum icon will be visible on the side of that post.

If you receive a silver award, all you get is the icon. If you receive a gold award, you get a week of Reddit premium, plus 100 coins you can use to give someone silver. If you receive a platinum award, you get a month of Reddit premium and 700 coins to award people with silver or gold.

It's same like giving tips and this process is called gilding but you need to have some extra funds to spend them in order to reward someone but still people are paying because they find it suitable.

But the problem will arise when they will reward them with ERC-20 tokens hosted on ETH Blockchain as per reports reddit community is planning to reward the users with these tokens which could generate more investment in it and prices going up but what about the gas? Will the user who wants to exchange $20 worth of points be able to pay 3-4x fees of the amount? So the like button as you are suggesting or on site some extra benefits associated with these points is sufficient.Suppose when a user gets this much like he can be rewarded with some coupons or voucher which can be redeemed or after receiving particular amount of points he can cash out them.There are lot of better options as we have seen but it's their turn which side they choose.

[Huppercase]

I like Dorsey ambition and energy toward crypto and how he is making the world want them to embrace crypto but will be much better if he has a separate team focus on the growth of btc adoption and the people because the last time I check, Twitter is well centralized and censor through not as brutal as Facebook who always pick offense on little contents.
Cryptocurrency is a new world, you don't have to miss the two together except if they have another name for it, may connecting Defi to Cefi.

[19Nov16]

Twitter is the social media that is most instrumental in the development of cryptocurrencies, this is because the topics and trending on Twitter are real time so that it makes anyone curious to see what the world is talking about, and since 2013 cryptocurrencies have always been a hot topic, both pros and cons, so that it makes visitors interested. to know about cryptocurrencies.

[TheButterZone]

https://help.twitter.com/en/using-twitter/tips

Pasting a bitcoin address in > the third-party services that are all the other options