Key takeaways:
- App developer and notorious leaker Alessandro Paluzzi found evidence in the code of the latest beta version of Twitter’s iOS app that BTC support is on the way
- Just a few hours after the leak, Paluzzi findings were confirmed by Twitter’s product lead Kayvon Beykpour
- Bitcoin will soon be listed among the supported payments methods for Twitter’s new Tip Jar feature
Twitter seems to be laying the groundwork necessary for the implementation of Bitcoin tips into its new feature called Tip Jar. Mobile app developer and researcher Alessandro Paluzzi was the first to notice that the code in the latest version of Twitter’s iOS beta app adds support for Bitcoin. Soon after Paluzzi shared his findings on social media, Twitter’s product leader Kayvon Beykpour confirmed that the social media giant will indeed be adding Bitcoin support in the near future.
What is known about the latest Bitcoin feature?
Bitcoin will join Paypal, Patreon, Venmo, Bandcamp and Cash App as one of the supported payment methods that will let users make use of the Tip Jap functionality. While the date when users will be able to send and receive Bitcoin tips is yet to be determined, there is some information that was made public that describes how the new feature will work.
Here’s what the text from the beta app says:
“Bitcoin is the world’s first widely-adopted cryptocurrency. It’s a new kind of digital money that lets people securely and directly send money to each other on the internet. The Lightning Network is a technical innovation that allows for faster payments with lower fees than Bitcoin’s primary network. We use Strike to generate Bitcoin Lightning invoices so you’ll need to connect your account to accept Bitcoin tips.”
Twitter will be using Strike’s service in order to take advantage of the lighting network benefits, such as faster transactions and lower transaction fees when compared to transactions made directly on the Bitcoin network. This means that in order to use the new feature, a Strike account will be required.
Jack Dorsey’s Twitter and Square fully embrace Bitcoin
The latest news about Twitter adding Bitcoin support was to be expected. During Twitter’s Q2 earnings call, CEO Jack Dorsey took the opportunity to make his intentions about integrating Bitcoin into his companies’ products and services public for the first time.
In the letter to its shareholders, Square’s Cash App listed Bitcoin as one of the main reasons for the company’s successful second-quarter performance. Integration of the world’s largest cryptocurrency in the platform’s offering was reportedly an important aspect behind Cash App’s continued success. The company stated that it considers BTC an integral part of its ecosystem. During the quarter Bitcoin drove a staggering $2.7 billion in gross revenue.
Jack Dorsey has repeatedly made his support for Bitcoin known. For instance, Dorsey appeared alongside another famous tech CEO Elon Musk at the event hosted by B Word Conference, where the pair agreed that Bitcoin and cryptocurrencies, in general, are the only viable antidote to the currently predatory banking system.
