Following months of testing, Twitter started rolling out Bitcoin (BTC) tipping to Apple users on Thursday.
Twitter has unveiled new platform features, including more customizable settings and the opportunity for users to transfer bitcoin to one another.
Additionally, the social media platform is adding recording and replay capabilities to Spaces (live audio conversations on Twitter); Super Follows, which enables creators with large followings to earn money; and a safety mode that automatically blocks accounts similar to those already blocked by users.
When Twitter transfers cryptocurrency, it generates a bitcoin lightning wallet invoice, and when that invoice is paid off-platform, the social media site notifies the recipient, who may respond with a predefined message or emojis.
Esther Crawford, Twitter’s product manager, stated, “We want everyone on Twitter to have access to pathways to get paid. Digital currencies that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible — help us get there.”
Crawford stated that more cryptocurrency integrations are in the works and assured reporters that this is just the start of Twitter’s crypto adventure.
Twitter wants to guarantee that Bitcoin is included in that dynamic since many individuals worldwide lack access to conventional forms of currency. And, for Twitter, if the internet had its own money, product development would be accelerated.
Non-fungible tokens (NFTs) are also becoming a larger part of Twitter, with the firm ‘exploring’ NFT authentication, which would allow users to link their crypto wallets directly to Twitter and display their NFT ownership.
According to The Block, Twitter is in the early stages of developing a non-fungible token (NFT) authentication initiative in which users may verify ownership of a work of art by linking their crypto wallets.
Separately, the United States National Development and Reform Commission has intensified its anti-crypto mining efforts.
Bitcoin and other cryptocurrencies, according to the joint statement, undermine financial order and facilitate money laundering, fraud, and pyramid schemes.
It was another week in which Bitcoin and other cryptocurrencies seemed to be locked in lockstep with conventional markets, subject to the same supply chain shocks and economic mismanagement as the S&P and other indexes.
Cryptocurrency prices fell overnight as China reaffirmed its anti-crypto stance. However, eliminating the loophole that lets Chinese merchants utilize foreign services would certainly have a short-term negative effect on the sector as a whole.
However, Twitter reminded us last Thursday that, although it’s tempting to focus only on short-term price fluctuations, this is a long-term investment, and individuals with genuine vision across the globe are creating a financial future using Bitcoin at its core.