Topic: [2021-09-01] Twitter Beta Testing Bitcoin Tipping Feature (Read 216 times)

Where have you seen that? There are only 3 tweets available and the account has only 20 followers currently, I think it's just the own account of aoluain IMO.

Yes, you can tip with dogecoins on Reddit with a tipping bot, and it's really funny if you like dogecoins
https://www.reddit.com/user/sodogetip
https://sodogetip.xyz

For twitter it's coming

https://www.trustnodes.com/2021/09/02/twitter-confirms-launch-of-bitcoin-tipping

^ So, yeah, already have tipping. I suppose people'd feel safer using the in-house tipping function, and for those who don't want to KYC, then you already have all those 3rd party options. I personally don't think it's going to do much but then I suppose I've always underestimated how social media seems to get people opening up their wallets to simp on *cough* influencers.

There are independent tipping bots on Twitter (no KYC etc.) already, for Bitcoin and other cryptocurrencies.

https://twitter.com/satoshi_LN_bot for Bitcoin via Lightning.

Not too sure.  Generally, I try to avoid Reddit at all costs where possible.  But a quick search seems to suggest they allow people to use their own third-party tipping bots, meaning Reddit don't handle the tips directly.  I'm sure someone clever could create something like that for Twitter.  Or perhaps someone already has?  It looks like Reddit also experimented with native support for fiat tips by credit card payments via Stripe, but I don't think that went anywhere (I could be wrong, though).

Clearly Bitcoin, Strike, Twitter, the exchanges, bitcoin services and gambling sites will benefit if more people have bitcoins.

@buwaytress. Reddit had a tipbot for dogecoin. They also have a similar tipbot for Twitter, I reckon created by the same development team.

I was about to even question why the need for invoicing and such, and then yes, I just remembered Twitter's quite uncompromisingly a US entity. That's when all this complications made sense.

But then, doesn't (or didn't) Reddit -- also a US company -- allow Bitcoin and crypto tipping? Didn't they have a tipping bot that didn't even interact on-chain until you withdrew?

The fear of losing their status to concurrent innovative social medias is huge, so they must embrace bitcoin while their popularity is still giant. Just like New York's politicians, now Twitter wants to be crypto friendly.
At first moment, for most people it won't make any difference anyway, because they aren't based in USA or El Salvador.

But I'm sure as soon this concept starts being executed for real, there will appear middlemen services working as a bridge between the platform and users, so everyone can enjoy the benefits of the new twitter's feature, doesn't matter where they are from.

Although this is not good news for certain nations, the project's development is still limited for others, and they may not be able to access all of the features because of Strike.

As for Twitter, I suppose this is the only option they have if they want to protect their reputation from the ramifications of bitcoin tipping and I'm not sure if Bitcoin will really benefit from this or the company only.

Funny how things turn around, not so long ago these guys where banning crypto influencers accounts and ordinary crypto users accounts (https://www.coindesk.com/markets/2021/03/10/multiple-crypto-related-twitter-accounts-have-been-suspended/) and here we are now sending congratulatory messages for their business move in including a bitcoin tipping service, hope they are not playing to the gallery to avoid losing users seeing the crypto community has grown.

Glad to know that Twitter themselves are implementing this. Earlier i guess we could only use Bitfortip for getting this done. With a feature within Twitter, this ought to be really wonderful.

@DooMAD. Agreed. It might be to avoid compliance issues and use Strike as the shield. It might also be a form of consignment of the task of developing and adding the feature to the social media platform. I reckon Twitter cannot do the job on their own or it might be more expensive for them to do it on their own.

I can only assume it's something to do with Twitter being a US-based entity, maybe?  The only way it makes sense in my head for them to knowingly restrict usage to the US and El Salvador is if some regulator/lawyer/other-red-tape-dispensing-bureaucrat has advised them to.  

It's likely they don't want to end up facing (likely baseless) accusations of aiding money laundering, so they're going down the route that involves at least some KYC/AML.

I don't understand the integration with Strike at all.
Why not implement the tipping feature in a way that works with any wallet (including, but not limited to Strike)?

Strike is only available for a very limited number of users globally and Twitter will completely rely on the Strike team to deliver on their promise to expand globally quickly, which they have so far failed to do for (from my memory) over a year. I totally understand why: they have to partner with banks and stuff to be able to integrate local currency with Bitcoin, since they're almost acting as an exchange, which is no easy task.

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But the way I would implement a tipping feature (and have done so, actually, this year as a tipping bot - BT post and open source code release will follow when I find the time):

1) User A wants to tip user B: Twitter generates invoice and gets paid by A (funds now in Twitter's hands, but B's 'balance')
2) Twitter notifies B that they received a tip via a notification and allows to paste an invoice to withdraw in a new menu / page.
3) User B can either wait till they receive more tips or withdraw at any time, by pasting a valid invoice (not larger than 'balance')

Both users can use any LN wallet they want. Those that have access to Strike and don't have any Bitcoin yet, can download Strike to acquire Bitcoin and tip those via Lightning, others can just use any other Lightning wallet.

The idea here is that only the 'receiver' trusts the service and trust is limited through the ability to withdraw at any time, whereas in previous solutions users had to load up a 'balance' (via on-chain or LN), then use that to tip (all tips are just database value changes) and withdrawal takes another Bitcoin or LN transaction. Of course, 'senders' could just load up very small amounts (e.g. the amount for 1 single tip) via LN due to low fees, but it's one extra step.

I'm sure that a big company like Twitter might even figure out a smarter architecture than me in my small amount of free time, the above is just one idea that would work universally and is quite a good user experience (feedback I got for my own tipping bot that uses that architecture).

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Finally, the best way would be static invoices like keysend or LNURL-Pay. These would allow to eliminate the 'payee trust' requirement and any middleman completely, but not all wallets support those yet. There is also the proposal of Offers with the same purpose.

I reckon that would be okay if only for online tipping. Every service or application does not need to be decentralized in the cryptospace. It would also be much more simpler for twitter users who much of them are not crypto users to enable their accounts to receive tips.

Since Strike is a US-based app, it can never offer its services throughout the whole world because of the US imposing sanctions against some of the countries.
- Having said that, perhaps there's light at the end of the tunnel

• Quote from: NeuroticFish on September 02, 2021, 09:30:07 AM
  On another topic @dkbit98 said that there are more options and wallets mentioned and this Strike solution is there basically while they do testing.
  And they did say "for now" (one can hope, right?);
  

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AFAICR, they've never banned any country ^{[it's usually the other way around]}.

My only concern is if Twitter will start monitoring some countries (or maybe planning a temp ban) as a major exchange has recently. I started to think about how Twitter adapts to regulations in various countries, which are currently still diverse. Because the addition of the tipping feature can be misused for certain purposes such as a means of payment which may be against some regulations of certain countries.

I'm sure it would be just a matter of time though before its uesable worldwide I guess?


Yes the chances would have been very low to zero. There were threads before on the forum
made by people obsessed with whether or not Amazon would adopt Bitcoin but this is big
news for sure thanks to J.D's interest in Bitcoin.

We are lucky that Jack Dorsey is a Bitcoin enthusiast, if someone else was their CEO, the chance of Bitcoin integration right now would have been very low. Very few prominent companies, especially those who are not financial by their nature, are interested in rolling out Bitcoin payments. The demand from people is just not there yet.

True that. Just in that case allow me to not see it as a "wow" news. 
Still, I do hope it'll be better, see below.



On another topic @dkbit98 said that there are more options and wallets mentioned and this Strike solution is there basically while they do testing.
And they did say "for now" (one can hope, right?); I'd say that they may actually do better at some point.
Jack (&Co) is developing a HW too. I see it as a sign that he's not so keen to drive everybody (who wants a tip) into custodial wallets.

Hmm, at least judging from what I know about strike it won't be required for the donor to also have the same app, so you could tip normally from your own wallet of choice. Anyhow, I don't see how this could have been solved any better, Twitter is a private company, whatever payment method they would have used for storing clients' funds or make purchases around would have been at least partially centralized.


It's a matter of number and legislation, do you think Twitter will bother to care about all countries in the world when some are bringing in less than 0.01% of the revenue and will give them a lot of trouble over the whole regulation of BTC in that country? They will run a test with their main moneymaker and check the results, if the enthusiasm doesn't relate to $ there will be no expansion.

Besides, that's exactly how Pyapla rolled bitcoin purchases, nothing out of the ordinary.