Pages

Twitter Is Apparently Working On Allowing For Bitcoin Transactions Via Its Tip Jar Feature

Twitter is apparently working on allowing for the transference of Bitcoin between users via the platform's Tip Jar feature.

Twitter's become a very important and robust community, comparable to a modern-day virtual agora. While many Twitter users may roll their eyes at the comparison, and certainly most agoras were probably not as rife with insults and heated discourse, this author believes that its easy to lose sight of one's progress in the slog of daily routine. The fact that there now exists a massive online space where individuals from all over the world can interact with each other, engage in discourse, and even display their talents and skills to adoring audiences, is quite amazing. Twitter may certainly not be a safe haven for its users, but what it means to the world at large is quite important.

Twitter's massive platform means that users that are influencers and the like have a lot of opportunity for growth. With influencers themselves bringing in further revenue via users and advertisers for Twitter, it's natural that the company would want them to feel more comfortable with the platform. Thus came along a slew of features geared around creators making more content. Spaces is a livestream podcast form that allows users to address topics of interest while also interacting with fans. And the focus of this article, the Tip Jar, allows users to display their gratitude for their favorite creators by leaving a variable amount of money as a tip.

When the Tip Jar started out, and even today, it only accepted real life money. However, the times are a changing. Bitcoin is an increasingly popular form of cryptocurrency that's leading to many attempting to buy it and sell it onwards. While it certainly hasn't come anywhere close to replacing current forms of currency, Bitcoin is being normalized into online culture very, very slowly. Which isn't a bad thing, change will always happen regardless of our reaction towards it. Apparently, Twitter is of the same opinion as it is looking to allow Bitcoin deposits into the Tip Jar.

This information was revealed by social media app researcher Alessandro Paluzzi via a screenshot, and later confirmed by Kayvon Beykpour the Product Manager at Twitter. The picture depicts a user notification about how Bitcoin will work with the Tip Jar. Essentially, users will be able to pay in the form of the cryptocurrency via a Lightning Network channel. This will allow for speedy transactions, as well as provide lower fees than Bitcoin's primary network. Overall, the entire process, while complicated, is assuredly end-to-end secure.

It's difficult to gauge how users will react to the implementation of this new feature. Even now, many netizens aren't fully familiar with how Bitcoin works, and there will be some natural hesitancy. However, perhaps in time this will end up being yet another beloved addition that users and creators alike will appreciate.


Read next: Twitter introduces Safety Mode to protect users from accounts which use insulting comments and send spam messages

No comments:

Post a Comment