And while the idea of using bitcoin
In a nondescript office, overlooking the Chicago skyline, Mallers uses the Twitter tipping function to send bitcoin to a person he claims is in El Salvador, the country that just made bitcoin its official legal tender.
“Yo… we’re in Chicago and we’ve got David here in a Starbucks
After sending the equivalent of $10 over the app, Mallers says “Boom!”
“We just made an instant, free remittance payment … over Twitter.”
“Why would anyone ever use Western Union
“Western Union [King’s] pawn to E4, your move,” intones Mallers at the end of the video, referencing a common chess opening move in chess. Shareholders of Western Union, however, seemed unperturbed, with its stock up 1.2% late Thursday.
It is no coincidence that Mallers is championing the Twitter feature, the social media platform is using his Strike network to facilitate tipping.
Strike, the Chicago-based startup that Mallers launched along with its parent company Zap Technologies, also is known for helping El Salvador adopt bitcoin.
Dorsey, for his part, has also been a staunch supporter of crypto and runs Square Inc.
Twitter also said it is aiming to offer a feature that would allow users to authenticate nonfungible tokens or NFTs on its platform.
But overall, tipping in bitcoin seems unlikely to gain much traction on Twitter outside of remittance transfers. Bitcoin, the world’s No. 1 crypto by market value, has come to be seen as a store of value, and has gained notoriety for its gut-wrenching price swings.
One big fear is transacting in bitcoin or Ether only to see the asset surge (or fall). Indeed, about 11 years ago on May 22, Laszlo Hanyecz, one of the early adopters of the newfangled cryptocurrency bitcoin that had just been coded into existence, purchased a pair of Papa Johns pizza pies using 10,000 bitcoins. The purchase equated to roughly $41 dollars back in 2010, but would be valued at $448 million.
In any case, shares of Twitter were up 3.7% on the session, and up 23% on the year thus far, compared with a 1.7% gain for the Dow Jones Industrial Average
Source : https://www.marketwatch.com/story/why-the-debut-of-tipping-bitcoin-on-twitter-isnt-just-about-tipping-11632424386824