[2021-09-01] Twitter Beta Testing Bitcoin Tipping Feature

[aoluain]

https://bitcoinmagazine.com/business/twitter-beta-testing-bitcoin-lightning-tipping-service

Twitter is now testing the ability to tip users in Bitcoin through Jack Maller’s lightning network app Strike.

The Bitcoin developments at Twitter follow through with promises by CEO Jack Dorsey made in July.
It was implied then that Bitcoin would be enabled in the Tip Jar service. He suggested also that Bitcoin
could be used for Super Follows, Commerce and Subscriptions.

This is very interesting news about potential developments over on Twitter.
This goes another step to "normalising" Bitcoin for the masses or at least those on
Twitter.

This will also mean that if initiated on Twitter we will be able to tip the BitcoinTalkShow account !!

https://twitter.com/BtcTalkShow?s=09

[NeuroticFish]

As a headline, it looks   w o n d e r f u l.
But inside... at least the Strike part I don't like, since from what I know Strike is custodial wallet.
But I also hope for better, since it does tell: "for now".

For now, Twitter users will need a Strike account to receive tips in Bitcoin.

PS. It's also nice that you've changed the OP from a simple link to something more meaningful  

[aoluain]

As a headline, it looks   w o n d e r f u l.
But inside... at least the Strike part I don't like, since from what I know Strike is custodial wallet.
But I also hope for better, since it does tell: "for now".

For now, Twitter users will need a Strike account to receive tips in Bitcoin.

PS. It's also nice that you've changed the OP from a simple link to something more meaningful  

Yes of course, its just you were super quick with your post 🤪

[Iranus]

It will use "LN Strike" for generating wallet addresses. As far I know Strike is not a global app, It does not provide services in many countries.
But you know, Twitter is a stable global social media, then how they will give this tip jar feature to those Twitter users who are in restricted area to use strike?
I think it will be better if they will develop their own LN wallet inside twitter without using Strike.

[Lucius]

As far I know Strike is not a global app, It does not provide services in many countries.

I have to admit I was a little surprised when I visited their site and read the following in their FAQ :

We’re working hard to expand the countries we serve. Currently, Strike is offered in the United States (excluding Hawaii and New York) and in El Salvador.

I'm not familiar with the percentage of Twitter users from the US (although I guess it's significant), but it seems to me that there aren't too many of them from El Salvador. So if something doesn't change in terms of expanding to other countries, this will actually be a very limited option - although very interesting and useful in promoting the Lightning Network.

[SFR10]

or at least those on
Twitter.

Only those that are from the US ^{[minus two states]} and El Salvador can use that feature with Strike...
^{- Unfortunately, that equates to less than 340M people at most, but in reality, is more like 75M when you combine them [link]!}

This will also mean that if initiated on Twitter we will be able to tip the BitcoinTalkShow account !!

https://twitter.com/BtcTalkShow?s=09

AFAIK, that Twitter account was created by Cyrus and he/she is from Romania ^{[not sure where Cyrus is based at]}; in other words, there's a small chance unless someone else created that account instead.

[avikz]

It's an wonderful news indeed! Jack is anyway quite optimistic about bitcoin and it is reflecting in the project Twitter has undertaken. Even if this feature will be rolled out in US only for now, but we may see it launching in other continents as well in near future.

These are mainly granular level adoption which we all want to see with bitcoin. A revolution that started back in 2009, is taking shape slowly but steadily! That's what it matters!

[stompix]

But I also hope for better, since it does tell: "for now".

For now, Twitter users will need a Strike account to receive tips in Bitcoin.

Hmm, at least judging from what I know about strike it won't be required for the donor to also have the same app, so you could tip normally from your own wallet of choice. Anyhow, I don't see how this could have been solved any better, Twitter is a private company, whatever payment method they would have used for storing clients' funds or make purchases around would have been at least partially centralized.

But you know, Twitter is a stable global social media, then how they will give this tip jar feature to those Twitter users who are in restricted area to use strike?

It's a matter of number and legislation, do you think Twitter will bother to care about all countries in the world when some are bringing in less than 0.01% of the revenue and will give them a lot of trouble over the whole regulation of BTC in that country? They will run a test with their main moneymaker and check the results, if the enthusiasm doesn't relate to $ there will be no expansion.

Besides, that's exactly how Pyapla rolled bitcoin purchases, nothing out of the ordinary.

[NeuroticFish]

Besides, that's exactly how Pyapla rolled bitcoin purchases, nothing out of the ordinary.

True that. Just in that case allow me to not see it as a "wow" news. 
Still, I do hope it'll be better, see below.

Anyhow, I don't see how this could have been solved any better

On another topic @dkbit98 said that there are more options and wallets mentioned and this Strike solution is there basically while they do testing.
And they did say "for now" (one can hope, right?); I'd say that they may actually do better at some point.
Jack (&Co) is developing a HW too. I see it as a sign that he's not so keen to drive everybody (who wants a tip) into custodial wallets.

[hatshepsut93]

We are lucky that Jack Dorsey is a Bitcoin enthusiast, if someone else was their CEO, the chance of Bitcoin integration right now would have been very low. Very few prominent companies, especially those who are not financial by their nature, are interested in rolling out Bitcoin payments. The demand from people is just not there yet.

[aoluain]

or at least those on
Twitter.

Only those that are from the US ^{[minus two states]} and El Salvador can use that feature with Strike...
^{- Unfortunately, that equates to less than 340M people at most, but in reality, is more like 75M when you combine them [link]!}

This will also mean that if initiated on Twitter we will be able to tip the BitcoinTalkShow account !!

https://twitter.com/BtcTalkShow?s=09

AFAIK, that Twitter account was created by Cyrus and he/she is from Romania ^{[not sure where Cyrus is based at]}; in other words, there's a small chance unless someone else created that account instead.

I'm sure it would be just a matter of time though before its uesable worldwide I guess?

We are lucky that Jack Dorsey is a Bitcoin enthusiast, if someone else was their CEO, the chance of Bitcoin integration right now would have been very low. Very few prominent companies, especially those who are not financial by their nature, are interested in rolling out Bitcoin payments. The demand from people is just not there yet.

Yes the chances would have been very low to zero. There were threads before on the forum
made by people obsessed with whether or not Amazon would adopt Bitcoin but this is big
news for sure thanks to J.D's interest in Bitcoin.

[noorman0]

My only concern is if Twitter will start monitoring some countries (or maybe planning a temp ban) as a major exchange has recently. I started to think about how Twitter adapts to regulations in various countries, which are currently still diverse. Because the addition of the tipping feature can be misused for certain purposes such as a means of payment which may be against some regulations of certain countries.

[SFR10]

I'm sure it would be just a matter of time though before its uesable worldwide I guess?

Since Strike is a US-based app, it can never offer its services throughout the whole world because of the US imposing sanctions against some of the countries.
- Having said that, perhaps there's light at the end of the tunnel

• On another topic @dkbit98 said that there are more options and wallets mentioned and this Strike solution is there basically while they do testing.
  And they did say "for now" (one can hope, right?);
  

My only concern is if Twitter will start monitoring some countries (or maybe planning a temp ban)

AFAICR, they've never banned any country ^{[it's usually the other way around]}.

[bbc.reporter]

As a headline, it looks   w o n d e r f u l.
But inside... at least the Strike part I don't like, since from what I know Strike is custodial wallet.
But I also hope for better, since it does tell: "for now".

For now, Twitter users will need a Strike account to receive tips in Bitcoin.

PS. It's also nice that you've changed the OP from a simple link to something more meaningful  

I reckon that would be okay if only for online tipping. Every service or application does not need to be decentralized in the cryptospace. It would also be much more simpler for twitter users who much of them are not crypto users to enable their accounts to receive tips.

[n0nce]

I don't understand the integration with Strike at all.
Why not implement the tipping feature in a way that works with any wallet (including, but not limited to Strike)?

Strike is only available for a very limited number of users globally and Twitter will completely rely on the Strike team to deliver on their promise to expand globally quickly, which they have so far failed to do for (from my memory) over a year. I totally understand why: they have to partner with banks and stuff to be able to integrate local currency with Bitcoin, since they're almost acting as an exchange, which is no easy task.


But the way I would implement a tipping feature (and have done so, actually, this year as a tipping bot - BT post and open source code release will follow when I find the time):

1) User A wants to tip user B: Twitter generates invoice and gets paid by A (funds now in Twitter's hands, but B's 'balance')
2) Twitter notifies B that they received a tip via a notification and allows to paste an invoice to withdraw in a new menu / page.
3) User B can either wait till they receive more tips or withdraw at any time, by pasting a valid invoice (not larger than 'balance')

Both users can use any LN wallet they want. Those that have access to Strike and don't have any Bitcoin yet, can download Strike to acquire Bitcoin and tip those via Lightning, others can just use any other Lightning wallet.

The idea here is that only the 'receiver' trusts the service and trust is limited through the ability to withdraw at any time, whereas in previous solutions users had to load up a 'balance' (via on-chain or LN), then use that to tip (all tips are just database value changes) and withdrawal takes another Bitcoin or LN transaction. Of course, 'senders' could just load up very small amounts (e.g. the amount for 1 single tip) via LN due to low fees, but it's one extra step.

I'm sure that a big company like Twitter might even figure out a smarter architecture than me in my small amount of free time, the above is just one idea that would work universally and is quite a good user experience (feedback I got for my own tipping bot that uses that architecture).


Finally, the best way would be static invoices like keysend or LNURL-Pay. These would allow to eliminate the 'payee trust' requirement and any middleman completely, but not all wallets support those yet. There is also the proposal of Offers with the same purpose.

[DooMAD]

I don't understand the integration with Strike at all.
Why not implement the tipping feature in a way that works with any wallet (including, but not limited to Strike)?

I can only assume it's something to do with Twitter being a US-based entity, maybe?  The only way it makes sense in my head for them to knowingly restrict usage to the US and El Salvador is if some regulator/lawyer/other-red-tape-dispensing-bureaucrat has advised them to.  

It's likely they don't want to end up facing (likely baseless) accusations of aiding money laundering, so they're going down the route that involves at least some KYC/AML.

[bbc.reporter]

@DooMAD. Agreed. It might be to avoid compliance issues and use Strike as the shield. It might also be a form of consignment of the task of developing and adding the feature to the social media platform. I reckon Twitter cannot do the job on their own or it might be more expensive for them to do it on their own.

[UKprod]

Glad to know that Twitter themselves are implementing this. Earlier i guess we could only use Bitfortip for getting this done. With a feature within Twitter, this ought to be really wonderful.

[Woodie]

Funny how things turn around, not so long ago these guys where banning crypto influencers accounts and ordinary crypto users accounts (https://www.coindesk.com/markets/2021/03/10/multiple-crypto-related-twitter-accounts-have-been-suspended/) and here we are now sending congratulatory messages for their business move in including a bitcoin tipping service, hope they are not playing to the gallery to avoid losing users seeing the crypto community has grown.

[finaleshot2016]

Although this is not good news for certain nations, the project's development is still limited for others, and they may not be able to access all of the features because of Strike.

As for Twitter, I suppose this is the only option they have if they want to protect their reputation from the ramifications of bitcoin tipping and I'm not sure if Bitcoin will really benefit from this or the company only.