Twitter CFO - Twitter to allow tips in crypto

[paxmao]

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

"Bitcoin is going to be a great way for us to facilitate commerce on Twitter,"

https://breakingthenews.net/Article/bitcoin-to-facilitate-commerce-on-twitter-cfo/56614052

[oHnK]

I see that the CFO of twitter has understood a very clear opportunity for his company.  There are many companies that clearly accept BTC and even make it a proportion of their investments.  MSTR, which previously often lost money, has now increased the value of its company since investing in BTC, Tesla which has indirectly been very famous since receiving BTC for Tesla purchases although now it has changed.  Elon Musk is getting richer indirectly supported by his interest in crypto.

While all social media platforms are moving with their new vision to maintain their existence in the fierce industry competition.  For example, Facebook is changing the direction of the metaverse so that its competitor, Twitter, doesn't want to be late in picking up momentum.  Actually at this time we all have to start tightening our seat belts because with the realization that there are many companies with this potential, then ATH BTC is right in front of our eyes.

[amishmanish]

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.

[el kaka22]

We already had stuff like this with third party apps. Of course the account had to start a wallet, and everyone could have tipped that way if they wanted to but it wasn't an inbuilt option. Hopefully it will become one in the future, which I doubt that would be a big of a problem to implement, they are a tech company that could develop something like this whenever they want to. As twitter becomes more and more crypto peoples favorite place, it is reasonable to expect Twitter itself to react well for crypto as well. This is why I believe that Twitter will turn into more and more to "crypto hub" in the future as well.

As we all know politics and trending topics and crypto is the three huge things for twitter. Not saying that other topics are not there neither, they are there but this three topics is what makes twitter at the current stage and adding crypto option would be good for them.

[DaveF]

Cool, the more big name players keep supporting BTC and crypto in general is a beautiful thing to see.
I use twitter to read stuff, I don't really post much. But if I can just throw someone a few sats for something they said that I either liked or just found useful it works for me.
So long as they keep the begging for money down to a minimum.

-Dave

[The Sceptical Chymist]

Cool, the more big name players keep supporting BTC and crypto in general is a beautiful thing to see.

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.

I know some content creators rely on things like Patreon for donations, and I wonder if those same people would want to receive bitcoin instead.  Not everyone is into it, you know.  So while I do agree with you, Dave, I'm feeling kinda skeptical about this--but I'll be following the progress to see if it's a success or not.

[timerland]

I think that this is undoubtly a positive.

But the extent of the positivity has been overrated in my view. What the majority of the value in crypto lies is still DeFi applications which have largely been ignored by the financial institutions of the world, instead trying to capitalize on its speculative nature.

This seems to be somewhat of a superficial use of crypto. Whilst still valid, a lot more could be done.

[coupable]

Cool, the more big name players keep supporting BTC and crypto in general is a beautiful thing to see.

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.

Well, you focus on the most important details in this case in global. Obviously, this won't work for social media tipping. We saw how it's working for Steem. Note also that tipping was avialle in Twitter using Patreon and few other gates and i don't think that those tippers will use LN as their first experience with crypto because we can't deny that it's somehow difficult to handle by newbies. So the main reason why i liked this update from Twitter is that it will be followed by other big companies.
Unfortunetly, the price was intended to rise after the news from Twitter, but at the same time China announced the ban of crypto transactions after banning all mining activities. This caused the price to decrease instead of rising .

[_Miracle]

I've used the tip-bots on Reddit ---> tipping  and donating doge was the reason I originally purchased dogecoin.

Some people may have lost some dogecoin when the first doge-tip-bot shut down (coins were/sill are held in a custodial wallet).

I have a little dogecoin on Reddit and have purchased Reddit coins to give away before.

It sure will be interesting to see how many people get their first crypto-coins by tip and what they do with it and
how attitudes may change when people are transacting with it on the daily.

[Sithara007]

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.

[dothebeats]

Given how many people on Twitter are engaged in cryptocurrencies, this might be a good way to spread the word of crypto even further than its current reach. Also, one can now support the cause of a personality that they follow without having to visit external links for donations. It is, for the most part, only rewarding public figures and personalities as of the moment, but over time, its effect on crypto will be seen once it gained traction.

And here I am thinking that this has already been done on twitter before. Perhaps I was thinking of reddit and kinda mixed up the two in my head.

[palle11]

And here I am thinking that this has already been done on twitter before. Perhaps I was thinking of reddit and kinda mixed up the two in my head.

These two have really supported the awareness growth of cryptocurrency. The Twitter a platform has many prominent cryptocurrency ethusiast who have followers to move an agenda of cryptocurrency to the public through the tweet. Elon musk for example got many to support dogecoin through the hype from twitter. This is unlikely to happen with Facebook whose followership number is rather limited and popular people barely visit there.

[Anonylz]

Don't tell me soon we will be seeing a Twitter coin  , is there a possibility for that! Because the CFO seems to be very crypto-friendly and I can't help but wonder if this is something that has crossed his mind at some point, seeing how Facebook has crossed over perhaps Twitter maybe nursing the same thoughts,
Anyways the idea is good, but I hope it won't be abused, it is certainly a fine way for crypto adoption.

[oHnK]

Anyways the idea is good, but I hope it won't be abused, it is certainly a fine way for crypto adoption.

I don't think that they will be abused because there are many companies in the US who have used and are interested in crypto, so it is not new for us to see one company after another openly with their interest in blockchain technology as well as crypto. Not only FB and twitter, Microsoft has long been interested in crypto.

[Fortify]

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

"Bitcoin is going to be a great way for us to facilitate commerce on Twitter,"

https://breakingthenews.net/Article/bitcoin-to-facilitate-commerce-on-twitter-cfo/56614052

Seems like some low-hanging fruit that will allow Twitter to work cryptocurrency into their system and start to learn more about it without going all-in. It's good for wider adoption to see another big name start to encourage Bitcoin payments and will also introduce it to a whole new "class" of people. I expect that they will eventually come up with the ability to buy and store cryptocurrency as it is an interesting revenue stream which they sometimes struggle to find. Let's hope it is successful, so they will be able to roll out new features and become the biggest social network with full crypto functionality - it will be a great boost for them too.

[naira]

With Twitter being much more open to crypto users and already seeing how big the growth of cryptocurrencies is, it's impossible for Twitter to let this potentially extraordinary sector go unnoticed. As has been implemented with CCTIP which makes payments easy on Twitter. Twitter CFO above all else in terms of wider social media controls introduces crypto without needing to undergo filtering.

[EdenHazard]

Doge to the moon?

as we might know that a coin like doge invented as a meme coin and a tipping crypto currency.

or Shiba going to the moon?

these two meme coins feels like born in twitter by the narsistic elon tweets , it's just crazy if twitter doesnt want to use doge or shiba .. as inventing/issuing their own coin will never be an easy job to do.
shit got real now!

[iv4n]

We are talking about nice marketing here... nobody paid for it, but it's happening! It will be good for many people, the ones who don't know about it will join... it's a good thing for the crypto community!
To be honest, I expected to see some new crypto social network that will draw some attention... but with this move now Twitter is coming as the leader in this field, all crypto enthusiasts will stay there and bring more people into it!
Nice move from Twitter, they are thinking about the future!

[savetheFORUM]

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

Let him speak whatever he wants, he is a null point in the crypto world. People like this talking crypto in bright light is a good thing of course, but it doesn't change much, it simply makes it a bit better but that's it, nothing major. If he said something about banning crypto related ads and talks and suggestions so forth then it could have been bad, after all crypto people love twitter and we should be aiming at making that place more of a hub for crypto, but since he said just tipping, this is both good but also small enough to be ignored. Even grande getting a bankrupt situation was a lot worse for crypto and also the stock market so consider how little what this guy says really is compared to real stuff in the world.

[mitchr4]

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.