Twitter will enable crypto and stock trading via eToro partnership - page 2.

bettercrypto

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Quote from: Rikafip on April 13, 2023, 05:03:24 AM

As the title says, Twitter partnered with eToro and starting tomorrow (April 14th) users will be able to trade crypto and stocks directly on the platform.

Quote from: https://watcher.guru/news/twitter-to-enable-crypto-stock-trading-after-etoro-partnership

Twitter users will soon be able to trade stocks, crypto, and other assets directly via the social media platform, thanks to a partnership with eToro. According to a CNBC report, the new feature will roll out on the Twitter application on Thursday, April 14.

It is interesting to note that Twitter’s owner, Elon Musk, began his quest to acquire the social media platform on April 14, 2022. A year later he is rolling out one of the biggest updates in the platform’s history. Twitter currently has a “cashtag” feature that allows users to view real-time trading data from various platforms. However, with the Twitter-eToro partnership, the “cashtag” feature will expand to include more instruments and asset classes, including trading crypto. The social media platform will also have a “View on eToro” button, which will take users to the eToro site.

eToro CEO, Yoni Assia told CNBC that they see a lot of their users interacting on Twitter and educating themselves about the market. Assia further added that Twitter has high-quality, real-time content about financial happenings around the world. Assia stated,

“This partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.”

It just means that twitter users will now be able to browse market charts of various financial instruments that they can buy or sell through Etoro. Elon Musk thinks that Twitter will become a super app.

Elon Musk's super app idea is good, but it is not that easy to implement in the US. China's wechat is different because it has the blessing of the Chinese government. However on Elon Musk's twitter that is not really in good terms with the regulators same with other tech giants like google and apple that they are not close to the regulators. That's why many doubt this super app that Elon Musk wants to happen.

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Quote from: tbct_mt2 on April 13, 2023, 05:38:31 AM

Sounds like a good partnership as they have cross use cases.

I only don't know how people will be able to trade stocks and cryptocurrency directly on Twitter?

I believe Twitter will have to submit new area for their company license to legally deploy it on Twitter. Regulations on financial services are very strict in the USA. and if Twitter ignore compliance stuffs, they will be in troubles with regulatory authorities.

Yes, a very good partnership, eToro is a very long-established company in the field of investment, stock trading and cryptocurrency trading, but they are subject to US regulatory conditions, also they impose KYC on users, so I worry that Twitter should do the same.

If they apply for licenses from the US government I am afraid they will start applying strict restrictions on users especially KYC AML, these effects will not be happy for many users.

jrrsparkles

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Good feature to have but I am not sure how they are going to achieve what they said, is it already released for everyone or only in the testing phase? Because if the social media platforms turns out to be w trading related platforms then it will be having lot of guidelines to follow and also KYC so here after only one account per person will be enforced as well.

WillyAp

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Let me guess, just for people in the US.
Elon lives in a bubble, the world for him is just the USA.

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Quote from: NotATether on April 13, 2023, 09:48:54 PM

https://i.imgflip.com/7i3lcp.jpg

What do you think is going to happen when 300 million people start tipping each other with Dogecoin without a layer 2? You guessed it - network congestion, higher DOGE prices, higher block difficulty and higher energy use.

In short, DOGE will become twitter fuel and will certainly cause network congestion.
Having to build a stronger DOGE network, elon Musk has a lot of money and he will also benefit a lot from what he does with DOGE.

It seems that DOGE is no longer a memecoin, but a speculation coin for elon.
Unlimited supply and high prices, it will be perfect for growing elon musk's wealth.

DOGE is also still using the POW Network and this will make energy consumption even higher, is Elon not worried about that, about higher energy consumption.

eToro might just be a starter, but I've never traded on eToro, it's quite foreign to me.
Is this just going to be an experiment?
Twitter recently became a testing ground for Eon Musk when he became the legal owner of Twitter.

Latviand

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Quote from: mk4 on April 13, 2023, 05:14:55 AM

Twitter seemingly to be gearing towards being some sort of super app. Very interesting development compared to what eToro did.

eToro: investing/trading app that added a social media aspect
Twitter: a social media app that added investing/trading

Twitter in itself right now is pretty buggy though — not sure if implementing investing/trading is the best move to make right now.

They definitely are but imo, Twitter needs a CEO that doesn't fire people impulsively and then pull them back because he didn't realize that they are integral to the infrastructure. Elon had his time, I think that Twitter should somehow make things a bit more serious so as to make things such as gearing towards super app be feasible.

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Quote from: so98nn on April 13, 2023, 06:50:06 AM

The what now?
I really underestimated the power of idiotic things that can happen in this world. But yea of course we still have to see dozens of stuff before we die. What is next now? Twitter implementing a feature in which you can tweet to the Tesla and ask her to pick you from office.

Come on man I’m sorry but this ain’t social media gearing up. This is called as how to fill your pockets with any shit you can do around the investors doorstep.

Man, I admired Elon so much in the initial years. Not sure what is happening to his mind and what sort of thinking is this? Twitter is definitely getting worst integrations these days.

I have said it before and I will say it again, I do not think Elon knows what to do with Twitter, he bought it and now he has an expensive toy that needs to begin to make money or it will begin to affect the rests of his businesses as well, and this is what it came to his mind, will this work? I am not so sure it will but I would like to see what comes out of this experiment, however it would not surprised me if the US tried to put a stop to this arguing they are trying to protect twitter users from losing their money.

NotATether

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Quote from: Oshosondy on April 13, 2023, 04:11:32 PM

Twitter is centralized before, but getting very worse now. I see Twitter formal CEO Jack Patrick Dorsey to be better, not a man that manipulate, saying Twitter is already accepting bitcoin, but later said bitcoin is no longer accepted for payment to buy Tesla, later said the coin that would be accepted will only be consuming less than 1% of the energy bitcoin is consuming. Later did what we expected as he accepted doge.

Elon's plan:

What do you think is going to happen when 300 million people start tipping each other with Dogecoin without a layer 2? You guessed it - network congestion, higher DOGE prices, higher block difficulty and higher energy use.

I'm sure when that happens he'll look back at this and say "it was a mistake to use DOGE. From now on, we will be Shiba Inu enthusiasts. Tokens don't waste energy."

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I wonder what comes next, is it Doge to be use a mode of payment to tip users for making some great thread? I wonder as well if it will be available to all users or just for those who pays the verified accounts, because if it's like that then it's not a great feature tbh.

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Quote from: NotATether on April 13, 2023, 06:31:03 AM

Quote from: mk4 on April 13, 2023, 05:14:55 AM

Twitter seemingly to be gearing towards being some sort of super app. Very interesting development compared to what eToro did.

eToro: investing/trading app that added a social media aspect
Twitter: a social media app that added investing/trading

Twitter in itself right now is pretty buggy though — not sure if implementing investing/trading is the best move to make right now.

Can't wait for Twitter to get regulated by the SEC! (just kidding).

No seriously. What the hell is this. When all the advertisers and news reporters and normal people leave Twitter for other platforms, the only people left using the super-app will be Elon enthusiasts and Dogecoin bros.

Twitter is centralized before, but getting very worse now. I see Twitter formal CEO Jack Patrick Dorsey to be better, not a man that manipulate, saying Twitter is already accepting bitcoin, but later said bitcoin is no longer accepted for payment to buy Tesla, later said the coin that would be accepted will only be consuming less than 1% of the energy bitcoin is consuming. Later did what we expected as he accepted doge. I still do not see alternative social media that crypto people are using as news are directing us to tweets, I hope there is a better and less centralized or decentralized one in the future. Now it is said that Twitter is patterning with eToro. Let us see what Elon Musk would later turn Twitter to.

Lanatsa

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Quote from: Oshosondy on April 13, 2023, 06:21:00 AM

Quote from: mk4 on April 13, 2023, 05:14:55 AM

eToro: investing/trading app that added a social media aspect
Twitter: a social media app that added investing/trading

Elon Musk is only looking for ways to make more money and not thinking about Twitter users. I wonder if anyone on Twitter will not want to try to trade and start losing money, I hope they will know that trading is not for everyone.

Everything is really that versatile now on which certain industries would be touching up others which would be added up on the platform and they wont really be liking on missing up something.As for Elon then its not that shocking on having these kind of decisions to be made out considering that its his company and he had made out some odd decisions in regarding his investment or business then now integrating out
a trading platform on a soc media platform then its just i dont see any problems at all. You arent forced to trade if you are a user of Twitter, it would be still your choice and its true that
not all are really into trading but at least having that add up do give out some options later on which it might be that beneficial or convenient for us later on.

WillyAp

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Quote from: Rikafip on April 13, 2023, 05:49:42 AM

Yep, and that's not a secret either as Elon said it himself that his goal is to make an "everything app", something like WeChat is for Chinese people since they can use it to pay for stuff, chat with people, play games etc. Its easier said than done though so it remains to be seen how this ends.

He only forgot that most people are not Chinese. OK they are human just like us but they are also highly skilled in many areas. To use an app as a 50+ years old is no issue in China. Open an email is an Issue in most western countries. India as a twitter loving folk has severe Restrictions specially in Crypto. There is a reason why wechat works in China, it does not work outside of China. Only Chinese banks accept wechat. So far I know.

mk4

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Quote from: Oshosondy on April 13, 2023, 06:21:00 AM

Elon Musk is only looking for ways to make more money and not thinking about Twitter users. I wonder if anyone on Twitter will not want to try to trade and start losing money, I hope they will know that trading is not for everyone.

1. No one is forced to use this product
2. This feature can actually be great for some Twitter users who want such feature
3. Literally the main reason for starting a for-profit business/company is to make money

so98nn

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The what now?
I really underestimated the power of idiotic things that can happen in this world. But yea of course we still have to see dozens of stuff before we die. What is next now? Twitter implementing a feature in which you can tweet to the Tesla and ask her to pick you from office.

Come on man I’m sorry but this ain’t social media gearing up. This is called as how to fill your pockets with any shit you can do around the investors doorstep.

Man, I admired Elon so much in the initial years. Not sure what is happening to his mind and what sort of thinking is this? Twitter is definitely getting worst integrations these days.

NotATether

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Quote from: mk4 on April 13, 2023, 05:14:55 AM

Twitter seemingly to be gearing towards being some sort of super app. Very interesting development compared to what eToro did.

eToro: investing/trading app that added a social media aspect
Twitter: a social media app that added investing/trading

Twitter in itself right now is pretty buggy though — not sure if implementing investing/trading is the best move to make right now.

Can't wait for Twitter to get regulated by the SEC! (just kidding).

No seriously. What the hell is this. When all the advertisers and news reporters and normal people leave Twitter for other platforms, the only people left using the super-app will be Elon enthusiasts and Dogecoin bros.

hugeblack

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Is this trading for all accounts or accounts with which the identity has been verified? What is the advantage that makes me trade through Twitter and not through eToro platform?

Personally, I see that the rapid development of this platform will create many bugs that may lead to people losing their money. They have made updates without much testing on it, which made the platform unstable at all.

All I hope is that people will not rush to trade without knowledge, many will lose their money.

tbct_mt2

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Quote from: Rikafip on April 13, 2023, 05:49:42 AM

Quote from: tbct_mt2 on April 13, 2023, 05:38:31 AM

I believe Twitter will have to submit new area for their company license to legally deploy it on Twitter. Regulations on financial services are very strict in the USA. and if Twitter ignore compliance stuffs, they will be in troubles with regulatory authorities.

Since that feature is going live tomorrow, I guess they already sorted that part. Its probably eToro doing the trading part because if it isn't, what's the point of that partnership?

I know eToro will play main role with trading feature but does this partnership exclude the necessary that Twitter have to register a license for operating a platform with trading services?

Like casinos buy games from game providers but casinos themselves have to register valid licenses to operate gambling activities. It's my thinking.

Quote from: Oshosondy on April 13, 2023, 06:21:00 AM

Elon Musk is only looking for ways to make more money and not thinking about Twitter users. I wonder if anyone on Twitter will not want to try to trade and start losing money, I hope they will know that trading is not for everyone.

If you are a trader and you can have a super big X-app to trade and do other things, will you use it? I don't like to do everything in a single application as it is like I put all risk and one bag. I can not control my capital by doing this.

I don't see what is wrong if Elon Musk deployed it for Twitter, if you see benefit, let's use it. If not, don't use it. This partnership is good for Twitter to earn more income from a kind of affiliate income from eToro and eToro will have massive advertisement on Twitter.

Oshosondy

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Quote from: mk4 on April 13, 2023, 05:14:55 AM

eToro: investing/trading app that added a social media aspect
Twitter: a social media app that added investing/trading

Elon Musk is only looking for ways to make more money and not thinking about Twitter users. I wonder if anyone on Twitter will not want to try to trade and start losing money, I hope they will know that trading is not for everyone.

Rikafip

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Quote from: mk4 on April 13, 2023, 05:14:55 AM

Twitter seemingly to be gearing towards being some sort of super app.

Yep, and that's not a secret either as Elon said it himself that his goal is to make an "everything app", something like WeChat is for Chinese people since they can use it to pay for stuff, chat with people, play games etc. Its easier said than done though so it remains to be seen how this ends.

Quote from: tbct_mt2 on April 13, 2023, 05:38:31 AM

I believe Twitter will have to submit new area for their company license to legally deploy it on Twitter. Regulations on financial services are very strict in the USA. and if Twitter ignore compliance stuffs, they will be in troubles with regulatory authorities.

Since that feature is going live tomorrow, I guess they already sorted that part. Its probably eToro doing the trading part because if it isn't, what's the point of that partnership?

tbct_mt2

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Quote from: mk4 on April 13, 2023, 05:14:55 AM

Twitter seemingly to be gearing towards being some sort of super app. Very interesting development compared to what eToro did.

eToro: investing/trading app that added a social media aspect
Twitter: a social media app that added investing/trading

Twitter in itself right now is pretty buggy though — not sure if implementing investing/trading is the best move to make right now.

Sounds like a good partnership as they have cross use cases.

I only don't know how people will be able to trade stocks and cryptocurrency directly on Twitter?

I believe Twitter will have to submit new area for their company license to legally deploy it on Twitter. Regulations on financial services are very strict in the USA. and if Twitter ignore compliance stuffs, they will be in troubles with regulatory authorities.

Topic: Twitter will enable crypto and stock trading via eToro partnership - page 2. (Read 349 times)