Twitter and Square CEO Jack Dorsey is known to be an avid Bitcoin fan. So far, he has lived this passion primarily at his payment company Square, which already offers users various crypto functions. But now, apparently, Twitter should also get a Bitcoin feature.
At least there is increasing evidence that Twitter is working on a function with which users can reward the creators of content with a kind of tip. According to the portal MacRumors contains a new beta version of the Twitter app for iOS lines of code that suggest an implementation of Bitcoin in the “Tip Jar” function.
Twitter introduced this digital coffee box in May so that users of the social media platform can show their appreciation to the authors of tweets and other content with a small donation in addition to likes and retweets. So far, this has been possible, for example, via the payment services Cash App, PayPal or Venmo.
The code in the test version suggests that tip payments can soon also be sent in the form of Bitcoin – and Twitter will rely on the Lightning network and the payment app Strike. “We use Strike to create Bitcoin Lightning invoices, so you’ll need to link your account to accept Bitcoin tips,” it says aloud MacRumors in a beta version text field.
Bitcoin is the future
Even if it is currently unclear when and to what extent such a function will be available for all Twitter users, the introduction would be only logical. Twitter boss Jack Dorsey had stated in the past that Bitcoin would shape the future of Twitter – also with a view to future business areas such as trading or subscription services. In addition, Dorsey had already announced in June that Bitcoin could also be used as a means of payment for “Tip Jar”.
Bitcoin has so far been in demand primarily as a store of value or as an object of speculation. However, the Lightning technology could also make it more relevant in its originally intended function as a means of payment, as it not only makes transactions faster, but also cheaper. A prominent user like Twitter would certainly be an advantage for adoption.
Note on conflict of interests:
The chairman of the board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related derivatives that benefit from any price development resulting from the publication: Bitcoin.
Author Nikolas Kessler has taken direct and indirect positions on the following financial instruments mentioned in the publication or related derivatives that benefit from any price development resulting from the publication: Bitcoin.
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