[2019-08-26] Telegram's 300 Million Users Could Soon Be Trading Bitcoin ...

[Betwrong]

I know that Press section is being moderated really hard these days, and maybe rightly so, but I think this article by Forbes worth discussing here.


Now, crypto trading is coming to Telegram, a messaging app which boasts more than 300 million users around the world, via bitcoin and cryptocurrency wallet provider Button Wallet.

"Cryptos' biggest obstacle is mass adoption and what we’ve created will help people comfortable with trading cryptocurrency without using real money," said Alex Safonov, co-founder and chief executive of Button Wallet.

Reda more:

https://www.forbes.com/sites/billybambrough/2019/08/26/telegrams-300-million-users-could-soon-be-trading-bitcoin-and-cryptodespite-serious-security-warning/

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[hugeblack]

"Cryptos' biggest obstacle is mass adoption and what we’ve created will help people comfortable with trading cryptocurrency without using real money," said Alex Safonov, co-founder and chief executive of Button Wallet.[/i]

How can Bitcoin testnet wallet/app help increase the number of trading Bitcoin? And why need to connect with Telegram?
Yes, there are 300 million users, but few will be interested in investing and fewer will be willing to pay some money.

"With all the fanfare surrounding Facebook’s libra digital currency, there hasn’t been a way to explore digital assets without risk, until now with Button Wallet and the Telegram Open Network," Safonov added.

I think that when Facebook launching its currency knowledge will be increased without the need to use test currencies because it will be centralized, and the registration of all data on Blockchain will make it undesirable to hackers. "Transparency and Centralization"

[veleten]

telegram has potential to become a platform for trading bots and wallet apps
but I don't see how can 300 millions be trading bitcoin "soon" and why? testnet app?
"Button Wallet has today unveiled what it claims is the first free cryptocurrency testing playground on the Telegram Open Network and is giving away a small number of Telegram's gram cryptocurreny to encourage adoption."
 
for this to become even somewhat feasible , there must be a trusted wallet provider first , not an unknown startup with a testnet wallet
and having a wallet =/= trading , especially between 300 million users
yet another clickbait article without any substance

[Carlton Banks]

and Telegram message servers could also be used to identify all the people making trades


you'd be pretty ignorant to do this, the only secure/private messaging system is Tox (it's p2p, like Bitcoin. Telegram is not p2p)

[Schirer]

I think that telegram is a few levels better than Libra shitcoin.
The article states that there will be also ETH and BTC , depending on how easy it will be to use this option, this is exciting I want to see how this will pan out.

Regarding the privacy, telegram is privacy oriented as long as they principles do not change, i will consider it cautiously pro privacy.

[Carlton Banks]

Regarding the privacy, telegram is privacy oriented as long as they principles do not change, i will consider it cautiously pro privacy.

no it isn't

telegram servers know your phone number, and who you're talking to, even if the chat is encrypted. and considering most people just download the Google version, who knows what's really going on in that app

[veleten]

Regarding the privacy, telegram is privacy oriented as long as they principles do not change, i will consider it cautiously pro privacy.

no it isn't

telegram servers know your phone number, and who you're talking to, even if the chat is encrypted. and considering most people just download the Google version, who knows what's really going on in that app

speaking about telegram and privacy:
https://www.zdnet.com/article/hong-kong-protesters-warn-of-telegram-feature-that-can-disclose-their-identities/

tl:dr police adds their numbers in groups and requests the list of all the phone numbers in this group
and imagine that - the most privacy oriented messenger out there sends them
think  twice before trusting mass media and articles about the most secure , privacy oriented etc.

[1Referee]

Regarding the privacy, telegram is privacy oriented as long as they principles do not change, i will consider it cautiously pro privacy.

What principles? Social media platforms time on time again make headlines when it comes to privacy scandals. Governments must be so grateful to have these centralized pools of information they can tap into whenever they want. It's mind boggling how people can't see the danger of using these platforms. 

The only good thing about this article is that it provides free advertising for Bitcoin as brand with how I expect more news outlets to pick this up.

[CryptoBry]

With its millions of users, even a portion of them will be interested and really use the platform for trading cryptocurrencies like Bitcoin, this can be a big potential that can be worth exploiting. We know that there are more than 300 millions using Telegram so even just 1% of them can be enticed to this offer the business volume can be a lot...and of course if we have to look long-term and if Telegram will continue on improving its infrastructure there is a big possibility that this can be a big winner. Now, there will always be problems and challenge with anything much more if a platform is dealing with cryptocurrency but if the team for the project will just prod on success can be on its way. However, it does not mean that I personally will immediately adopt into this as I prefer to also wait and see what can be.

[Betwrong]

With its millions of users, even a portion of them will be interested and really use the platform for trading cryptocurrencies like Bitcoin, this can be a big potential that can be worth exploiting. ~

That's what I think too. Telegram may be not the best place for trading Bitcoin and other cryptos, but for millions of people it can be the starting point of their engagement with this business. They may choose more secure and more privacy oriented platform for crypto trading/holding in the future, but they will become acquainted with this business through Telegram.

There is no need in connecting with Telegram for existing Bitcoin users/traders, but for those who already have accounts there, Button Wallet can be their first step towards Bitcoin adoption. 

[BitHodler]

With its millions of users, even a portion of them will be interested and really use the platform for trading cryptocurrencies like Bitcoin, this can be a big potential that can be worth exploiting. We know that there are more than 300 millions using Telegram so even just 1% of them can be enticed to this offer the business volume can be a lot...

The 300 million users Telegram has is nothing but a metric used to make click-bait headlines. Most of the people who use Telegram are semi tech savvy and know about Bitcoin and crypto in general already.

The people actually interested in Bitcoin aren't going to wait for Telegram to finally start offering Bitcoin trading-- they already do that on existing crypto exchanges and probably will keep doing that even with Telegram in the picture.

Being a little more positive about Telegram and Bitcoin trading, it's of course always a good development to see more players enter the trading field. More trading platforms means better service at lower cost.

[milewilda]

With its millions of users, even a portion of them will be interested and really use the platform for trading cryptocurrencies like Bitcoin, this can be a big potential that can be worth exploiting. We know that there are more than 300 millions using Telegram so even just 1% of them can be enticed to this offer the business volume can be a lot...

The 300 million users Telegram has is nothing but a metric used to make click-bait headlines. Most of the people who use Telegram are semi tech savvy and know about Bitcoin and crypto in general already.

The people actually interested in Bitcoin aren't going to wait for Telegram to finally start offering Bitcoin trading-- they already do that on existing crypto exchanges and probably will keep doing that even with Telegram in the picture.

Being a little more positive about Telegram and Bitcoin trading, it's of course always a good development to see more players enter the trading field. More trading platforms means better service at lower cost.

This is actually true even Telegram would integrate this trading feature it wont still make significant effect but rather adding up more option for people to buy btc to their platform but somehow this add up is still a good one yet it do really add up more choices or gateway for us to trade on.300M users? Im pretty sure that only 3/4 are just bots or multi-accounts and a slight portion of those numbers are the real users.

[Naida_BR]

I know that Press section is being moderated really hard these days, and maybe rightly so, but I think this article by Forbes worth discussing here.


Now, crypto trading is coming to Telegram, a messaging app which boasts more than 300 million users around the world, via bitcoin and cryptocurrency wallet provider Button Wallet.

"Cryptos' biggest obstacle is mass adoption and what we’ve created will help people comfortable with trading cryptocurrency without using real money," said Alex Safonov, co-founder and chief executive of Button Wallet.

Reda more:

https://www.forbes.com/sites/billybambrough/2019/08/26/telegrams-300-million-users-could-soon-be-trading-bitcoin-and-cryptodespite-serious-security-warning/

There are many people who are not buying crypto because they find it difficult.
If an application like Telegram integrates a Bitcoin trading feature and make it easier for users to buy and sell Bitcoin then the price is going to increase and it is a good step towards mass adoption.

[Carlton Banks]

If an application like Telegram integrates a Bitcoin trading feature and make it easier for users to buy and sell Bitcoin then the price is going to increase and it is a good step towards mass adoption. surveillance

FTFY

[BitValve]

I know that Press section is being moderated really hard these days, and maybe rightly so, but I think this article by Forbes worth discussing here.


Now, crypto trading is coming to Telegram, a messaging app which boasts more than 300 million users around the world, via bitcoin and cryptocurrency wallet provider Button Wallet.

"Cryptos' biggest obstacle is mass adoption and what we’ve created will help people comfortable with trading cryptocurrency without using real money," said Alex Safonov, co-founder and chief executive of Button Wallet.

Reda more:

https://www.forbes.com/sites/billybambrough/2019/08/26/telegrams-300-million-users-could-soon-be-trading-bitcoin-and-cryptodespite-serious-security-warning/

These actually sound like fantastic news. The more people get *easy* and direct access to crypto, the more the bitcoin and crypto community will benefit!

[Harlot]

Before they even introduce a crypto trading platform within there app I think they should face a more pressing issue first and that is the growing number of scams and fraud happening in their platform. There is no doubt that Telegrams is popularly use in the industry from ICO groups to subscription base analysis all kinds of members are using it and also are the scammers and fraudsters. With how quickly one person can create and delete a new account scammers gets to take advantage of it. If they introduce this crypto exchange there is no doubt that it will attract more scammers into the app and a lot of innocent people will be victimized by them.

[mohdk52]

Soon Telegram will create its own cryptocurrency and they will not need btc

[ayoubouni95]

Knowing that all Telegram chats are centrally stored on Telegram's servers, the fact that Telegram holds the encryption keys capable of reading any conversation stored on these servers because of how the transmission of messages is setup, I have my reservations.

Regarding the privacy, telegram is privacy oriented as long as they principles do not change, i will consider it cautiously pro privacy.

no it isn't

telegram servers know your phone number, and who you're talking to, even if the chat is encrypted. and considering most people just download the Google version, who knows what's really going on in that app

speaking about telegram and privacy:
https://www.zdnet.com/article/hong-kong-protesters-warn-of-telegram-feature-that-can-disclose-their-identities/

tl:dr police adds their numbers in groups and requests the list of all the phone numbers in this group
and imagine that - the most privacy oriented messenger out there sends them
think  twice before trusting mass media and articles about the most secure , privacy oriented etc.

-Because of this added info, it would be a mistake to financially transact/trade with anyone in-app on Telegram.

[hatshepsut93]

Saying that 300 million users could be trading Bitcoin is insanely misleading, it's like saying that 2 billion people will use Libra because they have Facebook accounts, or that billions of people track Bitcoin price, because Google shows BTC price if you search for it. When a company rolls a new product in completely different fields, their existing customers don't automatically transfer to it, that's not how business works, ffs. Telegrams 300 million users will keep chatting now even knowing about this new possibility, and even if they know it they probably won't care. People who want to trade crypto already do it, and those who don't won't change their mind because it comes to a new platform.

[Betwrong]

Saying that 300 million users could be trading Bitcoin is insanely misleading, it's like saying that 2 billion people will use Libra because they have Facebook accounts, or that billions of people track Bitcoin price, because Google shows BTC price if you search for it. When a company rolls a new product in completely different fields, their existing customers don't automatically transfer to it, that's not how business works, ffs. Telegrams 300 million users will keep chatting now even knowing about this new possibility, and even if they know it they probably won't care. People who want to trade crypto already do it, and those who don't won't change their mind because it comes to a new platform.

I disagree with your last sentence. Telegram users, who are not trading currently, don't do it because they are not traders. They have no idea, and, most importantly, don't want to have any, about how trading platforms work, which of them are safe etc. If they will be provided with opportunity to do easy trading on the platform they know, some of the 300 million Telegram users will start doing that, I'm sure.

[1Referee]

I disagree with your last sentence. Telegram users, who are not trading currently, don't do it because they are not traders. They have no idea, and, most importantly, don't want to have any, about how trading platforms work, which of them are safe etc. If they will be provided with opportunity to do easy trading on the platform they know, some of the 300 million Telegram users will start doing that, I'm sure.

I like your open mindedness. It made me look at this event from another side instead of just focusing on their privacy issues (which are very serious and shouldn't be ignored).

It could indeed be that people either haven't been exposed to trading in general, or know about trading, but simply prefer to not leave the ecosystem they are comfortable with, mainly with how crypto exchanges have been quite a subject of discussion when it comes to hacks and whatnot. If this ends up bringing in some more liquidity, that would be cool.

[hatshepsut93]

They have no idea, and, most importantly, don't want to have any, about how trading platforms work, which of them are safe etc.

This is such a small obstacle, that anyone who had the slightest bit of desire to buy Bitcoin easily overcame it. Sure, some users will use this new opportunity to buy Bitcoin, but most of them will probably be already familiar with Bitcoin and trading, as opposed to users who will be buying Bitcoin for the first time. So, to me the title "300 million users could be trading bitcoin" sounds highly misleading, with that reasoning you can say "7.5 billion could be using Bitcoin", just because anyone has the ability to download a wallet.

[pixie85]

(it's p2p, like Bitcoin. Telegram is not p2p)

It's still better than whatsapp. People don't care about privacy and you can see it by the share number of facebook and whatsapp users. Decentralized exchanges have less than 10% of the market share of the centralized exchanges. Probably much less than 10.

I like telegram and use it a lot but if it allowed me to integrate a wallet I probably wouldn't do it because I don't need 5 wallets or more. I'm already using Electrum and Coinomi. Too many programs doing the same thing will only give you a headache.

[Carlton Banks]

Telegram is not p2p

It's still better than whatsapp.

why?

you didn't provide any reasoning at all as to why

[sureshverma]

Soon they will be trading a new cryptocurrency from Telegram

[Betwrong]

They have no idea, and, most importantly, don't want to have any, about how trading platforms work, which of them are safe etc.

This is such a small obstacle, that anyone who had the slightest bit of desire to buy Bitcoin easily overcame it. Sure, some users will use this new opportunity to buy Bitcoin, but most of them will probably be already familiar with Bitcoin and trading, as opposed to users who will be buying Bitcoin for the first time. So, to me the title "300 million users could be trading bitcoin" sounds highly misleading, with that reasoning you can say "7.5 billion could be using Bitcoin", just because anyone has the ability to download a wallet.

I don't completely disagree with you. Indeed, it would be more fair if the article was titled "Some of the 300 million users could be trading bitcoin ...". But that's not how journalists name their articles, and we all know about that, right? They want their article to be read by as much people as possible, so they exaggerate things a bit in the title. I even think they are taught to do so in the places they learn journalism, and that's why we see similar titles pretty often. I personally think that the content of the article is what is really important. If there is some interesting info inside, we can forgive a clickbaity title.

I disagree with your last sentence. Telegram users, who are not trading currently, don't do it because they are not traders. They have no idea, and, most importantly, don't want to have any, about how trading platforms work, which of them are safe etc. If they will be provided with opportunity to do easy trading on the platform they know, some of the 300 million Telegram users will start doing that, I'm sure.

I like your open mindedness. It made me look at this event from another side instead of just focusing on their privacy issues (which are very serious and shouldn't be ignored).

It could indeed be that people either haven't been exposed to trading in general, or know about trading, but simply prefer to not leave the ecosystem they are comfortable with, mainly with how crypto exchanges have been quite a subject of discussion when it comes to hacks and whatnot. If this ends up bringing in some more liquidity, that would be cool.

Thanks for your support! There are so many completely negative things around that I'm trying to find positive sides where they can be found at all, to avoid ending up rejecting everything.

[pixie85]

Telegram is not p2p

It's still better than whatsapp.

why?

you didn't provide any reasoning at all as to why

The most obvious reason would be ownership. If you trust facebook it shouldn't be a problem for you. It could even be a better choice than any other communicator but since Zucko is working with some 3 letter US agencies and leaking youur personal information here and there I'd be scared that if I say "bomb" somebody will break my door in the morning 

[veleten]

Telegram is not p2p

It's still better than whatsapp.

why?

you didn't provide any reasoning at all as to why

The most obvious reason would be ownership. If you trust facebook it shouldn't be a problem for you. It could even be a better choice than any other communicator but since Zucko is working with some 3 letter US agencies and leaking youur personal information here and there I'd be scared that if I say "bomb" somebody will break my door in the morning 

erm... do you really trust Pavel Durov that much ?
does it make any difference to you what country's agencies are sponsoring an app?
Facebook and whatsapp and Zukerberg serving one masters, Telegram and Durov others
or you believe in an independent genius that is fighting the system and promoting freedom of communications around the globe?
do not  be so naive .... this is the same as to believe that Ilon Mask is a good businessman 

[Carlton Banks]

The most obvious reason would be ownership. If you trust facebook it shouldn't be a problem for you. It could even be a better choice than any other communicator but since Zucko is working with some 3 letter US agencies and leaking youur personal information here and there I'd be scared that if I say "bomb" somebody will break my door in the morning 

did you read the part of this thread where the Chinese government got their hands on the Hong Kong protester's Telegram messages & contacts?