Twitter Sets the Stage to Introduce a Tips Reward with Bitcoin

Eva Fox by Eva Fox September 01, 2021

Twitter Sets the Stage to Introduce a Tips Reward with Bitcoin

Image: BitNovosti

Twitter has released a new beta update that sets the stage for the introduction of a tips reward with Bitcoin. This comes after the platform's CEO Jack Dorsey stated that Bitcoin will be a "big part" of its future.

Twitter's latest beta update brings support for providing Bitcoin tips to content creators using the "Tip Jar" feature. At the moment, Bitcoin is not yet available for selection as a tip option for beta users, but the code in beta suggests Twitter is in the process of rolling it out, MacRumors reports.

Tip Jar originally allowed Twitter users to add Bandcamp, Cash App, Patreon, PayPal and Venmo links to their Twitter profile. However, all indications are that soon, there will be a Bitcoin option. The addition of Bitcoin tipping follows right after Twitter CEO Jack Dorsey told investors in July that Bitcoin will be a "big part" of the platform's future. He stated that Bitcoin could help the company move faster in terms of expanding its products, and also explained that it is the best candidate to be the native currency of the Internet.

“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, Subscriptions, Tip Jar, and we can reach every single person on the planet because of that instead of going down a market-by-market-by-market approach,” Dorsey explained. “I think this is a big part of our future. I think there is a lot of innovation above just currency to be had, especially as we think about decentralizing social media more and providing more economic incentive. So I think it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it,” he added. This was the first time Dorsey spoke publicly about how Twitter can integrate Bitcoin into its product line.

Details in the latest beta of Twitter indicate that users will be guided through a Bitcoin tutorial, which includes information about the Bitcoin Lightning network as well as different Bitcoin wallets. Bitcoin support for tips is currently limited to Twitter beta and not yet available to all beta users, so it is not clear at the moment when the Bitcoin feature will see official release.

© 2021, Eva Fox. All rights reserved.

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Article edited by @SmokeyShorts, you can follow him on Twitter






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