Topic: Examining the Concept of Social Media and Currency: Is it Necesarry? (Read 153 times)

Even if it is, no one will actually recognize bitcoin as a social network because it’s not the main purpose of it. Or at least many believe to be so.

Since it is not greatly used by people as a social platform then not a lot of people consider it as such. It is used by many as a way to hold or store money and even make transactions with it. It just so happens that is incredibly valuable that it makes people profit just from holding it. Which is why it’s not prominently known as a social network.

The reason why WeChat pay is successful while Applepay or Google pay is not that successful because one is forced by their government to be used by their citizens and others given to us and let us decide whether use it or not.

Most of the transaction moved to digital payments either it's done via banking or third party apps there is not much difference in it.

I understand that not all countries want to accept a social media platform with their own payment system, but I'm more concerned as to the "why"? It's crazy to me that the platforms that drive adolescent suicide the highest and depression the highest and all this other evil shit is adding MORE of a reason to use them. It's retarded.

It's clear that social media is an app that is used constantly everyday by everyone in some form or another. This is because social media is just a more evolved form of the primitive concept of social networking, and it is logical from a business standpoint to make money why they add financial aspects to communications based platforms and services.

bitcoin allows communication, in a variety of ways. The software itself can let you talk to others, and it's not just the bitcoin signed messaging. Is bitcoin itself a social network?

so far the social media platform that has been most successful in integrating payment systems into their platforms is wechat, i have been to china once and my friends there use wechat for almost all of our purchasing activities, such as going to restaurants, taking taxis, buying souvenirs, etc. and when i had this experience, i saw that the integration of payment systems on social media platforms was very helpful for users, especially for those who travel frequently and are too lazy to carry cash. they only need to scan and all payments can be made from their device.

indeed, issues regarding payment system integration may be adjusted to the regulations of the country concerned. because not all countries want to accept a social media platform to have their own payment system.

I don't quite get the first part, sorry.
EDIT: Wait you're talking about Elon. Yea he rich and wanna be richer. He's a doof IMO and certain audiences attach to him. That's why they use him 😂.

As for the second part, yup I agree with you. The forum definitely shouldn't be holding others money, as that's not it's intention. Would linking a wallet to btt even be worth mentioning? Probably not. I guess you can already do that with the staking your address with ledger/electrum signed message, but obviously the funds in the staked wallet have no effect on the forum at all.

It's a lot of blabla about a rich guy who wants more money.

No. Not your keys, you know the drill. "The forum" doesn't want to hold user funds, and I don't want "the forum" to hold my money.

May I ask, in your opinion, is bitcointalk.org itself centralized? (Not necessarily a bad thing, as bitcointalk is a direct product of bitcoin itself.)

Also, if any social media site were to be a firm candidate to test this, would it be bitcointalk.org?


I agree with you here 100 percent. The strongest argument against having a bitcoin wallet on bitcointalk.org would definitely have to be that there are already perfectly fine cold-storage and warm-storage wallets that do the job. The strongest argument against having a bitcoin wallet on any other social media site is the latter, plus the fact its not bitcointalk.org. There are definitely people out there that use this forum's PM system as one of their primary means of communication, because of how trustworthy the keepers of its data are.

The main idea is having the bitcoin wallet to fund as a means to sort of stake yourself on the forum. Basically, if you wanna pitch in, type, or affect the public organic progression of content in any way, place some satoshi's in the wallet to show you mean business. To show each of your public interactions, which will probably be made of high quality/highly thought out decision because the thought of spending BTC is attached to it, mattered that much more.

Furthermore, it would yield as an excellent tutorial on the basics of utilizing bitcoin and the bitcointalk forum for a new user at one time. That would probably be good for adoption.

Nope, many people don't like it Would it be possible if there was some kind of like button?

What exactly the purpose is?

If the forum create their own centralized wallet exchange, it kills the Bitcoin decentralization.
If the forum create their own non custodial wallet, it just add unnecessary work, if Electrum and Bluewallet works very well, why we need to shift to other wallet without any reason?

These two has been discussed if I can remember correctly.. But the necessity of having such features here is unnecessary IMO.

Regarding fees for public action, it can be a thing in the future to prevent the spam, like there's a fee for evil IP.

Surely, this isn’t a brand new concept to most people. Social Media + Wallet for fake e-fiat transacting. Oh and throw in p2p messaging/phone calling. Wow! Live Location? You bet!  





The application known as WeChat, primarily used in China, is famous for integrating it’s WeChat Pay into almost everything that involves a financial transaction in one’s day to day life. Some 1+ billion individuals are moving funds back and forth through WeChat Pay. According to their frequently asked questions page:

What is WeChat Pay?

WeChat Pay is a payment feature integrated into the WeChat app, users can complete payment quickly with smartphones. WeChat has Quick Pay, QR Code Payments, In-App Web-Based Payments, and Native In-App Payments, all to fulfil the full range of scenarios your customers expect to fulfill different payment situation. Combined with WeChat official accounts, WeChat Pay service explores and optimizes o2o consumption experience, provides professional internet solutions for physical business. It is the best choice of mobile payments.

Christ. Imagining a social media platform that also facilitates that much economic activity is quite hard to do. I mean, it’s taking place in a communist country, so if anything like that is possible it’s no surprise it happened there.




The application known as Telegram also integrates money in various ways. With their use of their own TON blockchain, as well as the ability to create bots to facilitate payments, it’s vastly different than other applications such as WhatsApp. According to their frequently asked questions page:

Q: What are Collectible Usernames? How are they different from basic usernames?

Collectible usernames work just like basic usernames, they appear in Global Search results and have their own links that can be used outside of Telegram: username.t.me and t.me/username.

They can be bought and sold through third-party platforms like Fragment, giving a simple and secure way to acquire and exchange valuable Telegram domains. Acquiring a collectible username gives permanent ownership, verified by the TON blockchain. Owners of collectible usernames can freely assign them to chats, sell them to others, or keep them for later use.

Hmm, okay. Kind of giving me and NFT-ish vibe with the whole t.me thing. Makes me think of .eth and .sol names on their respective ecosystems, which was a cool concept to me when it first came out but I don’t really see the whole world onboarding to something like that.




The company known as Meta operates several social media services and platforms. Most notable, are applications Instagram, Facebook, and WhatsApp. The company Meta uses a feature they call Meta Pay, wherein users can pay for a variety of things much similar to WeChat Pay. According to their frequently asked questions page:

What is Meta Pay?

Meta Pay is a seamless and secure way to make payments on Facebook, Messenger, Instagram, and in participating online stores. Enter your payment card or account information just once and then use Meta Pay to make purchases, send money or donate. Add a PIN or use the fingerprint or face ID on your device to secure individual payments. Meta Pay also lets you view your payment history, manage payment information and access 24-hour chat service for customer support.[/i]

Where can I use Meta Pay?

Meta Pay can be used on Facebook, Instagram, Messenger, and in participating online stores.

On Facebook, you can use Meta Pay to shop, donate, buy tickets for events, or games.
On Instagram, you can use Meta Pay to shop or make donations to charitable or personal fundraisers.
On Messenger, you can use Meta Pay to send money to friends and family in the United States.
When online stores have Meta Pay enabled, you can shop the products and services you love, and check out faster with your saved credentials.
Meta Pay may not be available in all payment use cases on Facebook, Instagram and Messenger. We are continuing to build out functionality so that more people in more places can use Meta Pay across our technologies.

Alright. There’s obviously a pattern forming, and I could list fifty more social’s and they mother’s who are all somehow trying to onboard users with a reason to store money with them or use them to send money back and forth. Why is that by the way? These companies and organizations are all centralized entities that are most definitely in the business of using us like cattle to sell information, data, and habits.

My father went to Sicily on a trip once to see family, and he brought me back a very nice handmade leather wallet. While being a great sentimental possession, that wallet feels more and more useless everyday from a functional standpoint. The word wallet is associated more with elements of the internet, social media, and financial/communications technology than it is a flat case or pouch, often used to carry small personal items such as physical currency, debit cards, and credit cards; identification documents such as driving license, identification card, club card; photographs, transit pass, business cards and other paper or laminated cards. Wallets are generally made of fabric or leather, and they are usually pocket-sized and foldable.

Everyday people now have 20 wallets to manage, with half of them being empty or serving no real purpose.









As a matter of fact, what used to be Twitter.com, actually has several methods of facilitating currency transaction. These all reside under the guise and alias of Tips. With this system, a user can send currency to another user. It is worth of note that they named the system “Tips”, lending the possibility to add a psychological component to the whole thing. A person is more likely to use the system in the first place if this added trait of acknowledging a high quality post, timeline, action, etc. is present. In this case, it’s in the name of the system itself. I think the website Reddit’s use of  Reddit Karma has a similar effect. Yes it’s merely upvoting and downvoting, but naming it “Karma” invokes the idea that what comes around goes around. i.e “Don’t be a Dick.”. According to the X Help Center:

What is Tips?

Tips is a feature that lets you add links to select third-party payment services to your X profile. When you turn on Tips on your profile, people can support you by tapping on your Tips  icon to send you money or Bitcoin off-platform via the third-party payment services and platforms you have added.

Why is X introducing Tips?

People on X already share their Venmo handle and $Cashtag in posts. And people are often informed, entertained, and even moved by conversations taking place on the Home timeline and in X Spaces. With Tips, we’re creating an easy way to direct people to links to your payment profiles and we’re making it easier to support the people driving the conversation on X – whether you want to support a content creator, help someone fundraise, tip someone who just needs some help or thank someone for making you laugh.

Their description of reasoning for using Tips in the first place uses words “moved”, “help”, “fundraise”. It’s interesting that these concepts of peer to peer money transacting and crowdfunding are so inseparable.

Circling back to the post regarding X.com, these changes aren’t about facilitating payments, but rather an entire different beast itself. First, let’s take a look at the tweet mentioned in the beginning. It says in black and white (to my dis-freaking belief) that users who post, like, bookmark, or reply will have a small fee attached to that action.




There are actions that happen on social media sites, including bitcointalk.org. These actions can be broken down into a very binary structure. There are simply private actions and public actions. When I give merit to a user for what I believe to be a well put together thread, that is a public action. The rest of the users on the site, even those that do not have an account registered can see the action has taken place. Not only can the action be seen, but the very fact the action is public influences the direction of where things go. When I write a PM to another user to let them know they really smell bad, this is a private action and furthermore should have zero influence on the natural and organic progression of publicly viewable content. Both registered and nonregistered users across the majority of social media sites have no access to see or even have knowledge of a private action taking place, except for all authorized individuals within context.

Here’s a more complete (although not all) list of common private and public actions seen across social media websites. Note that most of these can be made private or public interchangeably depending on the social media site.

EX: Going to settings and changing it so that others cannot see when me liking something (the action) took place, despite being the opposite way by default setting.

Like
Dislike
Comment
Reply
Pin
Share
Post
Tag
Crowdfunding Actions

Messaging
Following
Bookmarking
Sending Currency
Receiving Currency
Blocking
Reporting

Why is bookmarking going to be an action that is incurring a small fee? This to me is a private action because it in no way affects the public organic progression of content, unless the very action of bookmarking taking place is announced publically.

That’s nine listed public actions alone that you could associate a “small fee” to. If the baseline human social media consumption (two hours thirty minutes a day) is taken into account, you would have to be charging people fractions of pennies per action unless you want them going broke. Sure that’ll make loads of money, with the downside that many users will leave the website when this takes place. I’m getting the same sentiment as back in the day when Elon first took charge, and Twitter Blue became a thing. It’s making me say “Why do I need to pay to use social media?”. At least, I don’t think me liking something on twitter validates a financial transaction to occur. It just doesn’t feel like it’s warranted or special enough. Mabey for some choice things, but all of them? No, sorry. Sure as hell made one of my younger relatives say the same thing when I showed them the X-related headline.

How such time has passed when paying $0.99 for 1 song and to get rid of ads was a thing…