Bitcoin to be Used in Twitter Tip Jar Initiative
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Twitter Inc. is said to be in the process of trials for a Bitcoin (BTC) tipping feature. This new development comes a few weeks after Twitter CEO Jack Dorsey hinted at the possibility of a BTC integration in several products, including Tip Jar. According to news aggregation website Macrumors:
“Twitter’s latest beta update introduces support for providing content creators with bitcoin tips using the ‘Tip Jar’ feature that Twitter introduced earlier this year.
Bitcoin isn’t yet available to select as a tip option for beta users, but code in the beta suggests that Twitter is in the process of rolling it out,” the publication described. “Details in the latest Twitter beta indicate that users will [get] directed through a Bitcoin tutorial that includes details on the Bitcoin Lightning Network and custodial and non-custodial Bitcoin wallets.”
Twitter user Alessandro Paluzzi recently tweeted a screenshot of the procedural system in receiving BTC tips on Twitter. The instruction requires the prospective receiver to open a Strike account, adding that: “We use Strike to generate Bitcoin Lightning invoices, so you’ll need to connect your account to accept [BTC] tips.”
The behemoth social media company introduced the Tip Jar feature in May and explained that: “The services you can add today include Bandcamp, Cash App, Patreon, Paypal, and Venmo,” adding that it “takes no cut.”
Jack Dorsey noted in July that Bitcoin plays a significant role in the future for Twitter, adding that the cryptocurrency is the best candidate for use as the native currency of the internet.
Key Bitcoin Levels to Watch — September 2
BTC has finally reclaimed its place (temporarily) above the critical $50K level as the entire cryptocurrency market recorded significant gains on Thursday. The benchmark cryptocurrency now faces the $50.5K resistance as bulls ramp up their activities.
BTC recorded a sharp 8% rebound yesterday following a drop to the $46.5K support due to a three-day correction from $49.6K. We expect a steady bullish continuation above the $50.5K resistance in the short term as trading conditions are ripe for more upward movement. Nonetheless, bulls need to hold BTC above the $49.5K level, which could restrict the price within a sideways momentum.
Meanwhile, our resistance levels are at $50,500, $51,400, and $52,000, and our key support levels are at $47,000, $46,000, and $45,000.
Total Market Capitalization: $2.31 trillion
Bitcoin Market Capitalization: $939.8 billion
Bitcoin Dominance: 40.5%
Market Rank: #1
