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Twitter testing for Bitcoin tipping features

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Indrani bose Follow

INDIA

Sep, 02 2021

Sep, 02 2021

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As per multiple reports Twitter is testing the option of tipping with bitcoin as part of its “Tip Jar” feature which was introduced earlier 2021.

Tip Jar, a service for making tips on Twitter. For beta users Bitcoin is not available to select as a tip option. The current code in the beta indicates Twitter is in the process of doing it and service is being tested. According to the details as seen in the beta version users will be directed through a Bitcoin tutorial to make smaller bitcoin payments. The Lightning Network will be used for the tipping function. Both custodial and non-custodial wallets will be supported. As examples of custodial wallets Twitter gives Strike, Blue Wallet and Wallet of Satoshi and for non-custodial wallets Muun, Breez, Phoenix and Zap are the examples. In July, Twitter CEO Jack Dorsey hinted that bitcoin would integrated into several products, including Tip Jar. He added that it could be used for its other products including Super Follows, Commerce and Subscriptions.

The mobile developer Alessandro Paluzzi has leaked an image of what the service will look like and the screenshot also shows how to receive tips in bitcoin on Twitter. Based on it, Twitter is working with Bitcoin Lightning App Strike, and will use the service to generate bitcoin invoices. Twitter users will receive the tips, through their Strike account. Paluzzi said “We use Strike to generate Bitcoin Lightning invoices, so you’ll need to connect your account to accept bitcoin tips.”

                                                            

                                                            source image - Twitter/Alessandro Paluzzi

In May ,Twitter introduced Tip Jar. Twitter allowed users to add services include Bandcamp, Cash App, Patreon, PayPal, and Venmo links to their Twitter profile.

Dorsey said in July that bitcoin is a big part of Twitter’s future, noting that bitcoin is the best candidate for the native currency of the internet. Dorsey said “If the Internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscription, Tip Jar, and we can reach every single person on the planet because of that instead of going down on market-by-market approach.”

Other company of Dorsey who has ventured into bitcoin

Dorsey's other company Square holds bitcoin on its balance sheet and recently committed to building a bitcoin hardware wallet. Plus Square has its own crypto team, Square Crypto, which works on bitcoin development kits and other open-source code.


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Indrani bose

CBW - External Analyst

INDIA

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