Twitter Testing Tricks With Bitcoin, How BTC Adoption Could Go Parabolic

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The social network Twitter could be closer than it did to integrate the Bitcoin Lightning network for micropayments. According to a report from the MacRumors news site, the platform is currently testing it for the iOS Beta operating system.

The purpose of the integration is to enable a new payment option for users to reward content creators through the recently launched Tip Jar feature. The option to pay with Bitcoin, the report claims, has not yet been activated.

However, people have found code in the app that suggests Twitter is deploying it, MacRumors said.

Mobile developer Alessandro Paluzzi usually shares updates on new features to be implemented on major platforms, such as WhatsApp, Instagram and Twitter. Paluzzi reversed the engineering of the app and found the image below.

Upon launch, users will experience Bitcoin and Lightning Network, its second-layer payment solution that allows people to send and receive payments faster at lower costs than its base layer.

Additionally, Paluzzi discovered that Twitter would use Strike to generate its Bitcoin Lightning bills. The platform will require users to log in their accounts (Strike) to start using the feature.

#Twitter is working on the possibility of receiving tips in #Bitcoin pic.twitter.com/uycD3qsR5F

– Alessandro Paluzzi (@ alex193a) September 1, 2021

Strike only works in the United States and El Salvador Dorsey. However, Bernard Parah, CEO and founder of the Bitcoin-based savings app Bitnob, noted that in other parts of the world, such as Africa, people cannot access Strike.

So, he praised Twitter for its efforts to integrate Lightning Tips and offered to help out to help expand access to the feature.

In response, and possibly confirming the founding of Paluzzis, Twitter CEO Jack Dorsey said the company will certainly seek African partners to increase accessibility to the Bitcoin Lightning network.

Jack Dorsey continues to bet big on Bitcoin

The CEO of Twitter and Square is leading a number of Bitcoin-based initiatives to increase adoption of BTC and to make it easier for people to interact with this cryptocurrency.

A few months ago, Dorsey announced plans to create a Bitcoin-only hardware wallet, and recently provided more details on Squares’ attempts to create a decentralized BTC exchange.

In 2021, the capacity of Bitcoin Lightning Networks has gone parabolic. If the rumors that the social media giant will be implementing in its platform are confirmed, this second-layer solution could develop further, as analyst Philip Swift said:

If the rumors are true that Twitter will soon be offering micropayments on the platform via the Bitcoin Lightning Network, then expect this chart to get even more parabolic!

Source: Philip Swift via Twitter

As Bitcoinist reported, experts believe the Lightning Network could be the beachhead for Bitcoin in the mainstream. In other words, a way to increase its adoption by users who need it for a specific use case, like receiving payment for their content, sending money, etc.

Either way, Dorsey has made it clear that Bitcoin will be deeply integrated with Twitter. The company anticipates that BTC will be at the center of some of its new features, Spaces and Super Followers.

It could help the platform drive both engagement and monetization, the CEO said in his latest earnings report. Dorsey added:

I think that’s a big part of our future. I think there are a lot of innovations to be made beyond simple currency, especially as we think about decentralizing social media more and providing more economic incentives. So I think it’s extremely important for Twitter and for the shareholders of Twitter that we continue to look at the space and invest aggressively in it.

At the time of writing, BTC is trading at $ 47,512 with minor profit in the daily chart.

BTC with a small profit in the daily chart. Source: BTCUSD Tradingview

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