The biggest news coming from the cryptocurrency sphere is that Bitcoin has gone over $50,000 for the first time in a long while.
Another boost for its price may come in the near future, once Twitter gets involved. The story goes that the social media platform will launch a feature through which users will be able to send/receive Bitcoin tips.
Twitter’s Product Lead Tweets About New Feature
Earlier this year, Twitter unveiled a new option called Tip Jar, with the intention of providing “a new way for people to send and receive tips.” The function enables Twitter users to share links to their profiles on money-transfer apps like PayPal, Patron, Venmo, and similar.
A few months after the launch of Tip Jar, Twitter wants to expand it. According to the company’s product lead, Kayvon Beykpour, Twitter developers are working on adding Bitcoin and Ethereum to the function.
Beykpour commended on a tweet posted by developer Alessandro Paluzzi, in which he hints Twitter will be using The Lightning Network for the feature, a technology meant to ensue secure online transfers.
When launched, the feature will enable users to add their crypto wallet address to their profile, to which other users will be then able to send tips in the form of Bitcoin, Ether, or some other digital currency.
Twitter’s Love Affair with Bitcoin
The founder of Twitter, Jack Dorsey, is a self-professed cryptocurrency enthusiast, who believes Bitcoin could become the internet’s native currency in the future. Dorsey believes the power of Bitcoin goes beyond the world of finances. That might be the reason why he’s been getting more and more involved with cryptocurrencies.
Apart from pushing for his social media platform to embrace Bitcoin, Dorsey has been involved in several other crypto projects. For instance, he’s recently launched a Bitcoin startup called TBD, which will serve as a decentralized crypto exchange.
Dorsey is also very vocal about Bitcoin mining, something that’s been getting a lot of negative press lately. In fact, the negative impact crypto mining has on the environment was cited as the #1 reason for Elon Musk’s decision to stop accepting Bitcoin as one of the payment methods at Tesla.
Nevertheless, as he revealed in a tweet, Jack Dorsey is still pretty much involved in mining. On August 17, he endorsed Compass Mining, which focuses on the use of ASIC miners, which users can host in one of the company’s partner facilities.