Twitter Working on 'Wallet Prototype' that Supports Crypto Deposit and Withdrawal 25
Social network Twitter has bigger ambitions with crypto. According to Jane Manchun Wong, a Hong Kong-based app researcher and reverse engineer with a great track record of finding evidence of upcoming products and services, the company is working on a "wallet prototype" that supports crypto deposit and withdrawal. The move will make Twitter the latest mainstream tech giant to make further inroads with web 3.
Re:In before (Score:4, Insightful)
Having a wallet isn't new technology, anymore.
Crypto at least facilitates many scams, and is verifiably populated by thieves.
Linking a wallet to a well known identity on a social media site? Probably not the best idea in the world.
Being able to transact your wallet by logging in to Twitter. Here comes a parade of people that "somehow" let others into their accounts.
Maybe these will help, after all your crypto is stolen:
https://help.twitter.com/en/sa... [twitter.com]
https://help.twitter.com/en/sa... [twitter.com]
https://help.twitter.com/en/fo... [twitter.com]
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I imagine Twitter is going after micro payments, probably for "enhanced/premium" "services" ... :-)
oh wait, I see you already covered that:
Crypto at least facilitates many scams, and is verifiably populated by thieves.
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2009 called.
And yes, cryptocurrency is a tool for grifters.
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Social Networks and Banks (Score:3)
Things I absolutely don't want mixed in my life, social networks and banking. There's just nothing that is compelling about that.
Let me work on my response to Twitter: (Score:2)
No.
You will be getting absolutely nowhere near anything of value.
Warm regards,
MachineShedFred
How do you know a fad is over? (Score:3)
Some large company jumps on the bandwaggon after everyone who is at least remotely sane already left it.
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By this point, even IBM has moved on.
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Crypto = ded game
Get ready for the future (Score:4, Insightful)
Thanks but no.
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Twitter is a social media platform. They only reason they'd want to have some kind of wallet is because they want to push a wall of garbage products at users and want a way to facilitate impulse purchases of those items. I believe TikTok is already going this route - "influencers" whore themselves out to promote some item and then the platform will allow them to put a click to buy built straight into the feed.
Thanks but no.
I don't think that's quite the plan.
The easiest way to generate money is to handle money. There's a lot of folks on Twitter soliciting cash for one reason or another. So Twitter builds wallets right into the platform, takes a small cut for themselves, and they've got a big new revenue stream.
Of course handling cash means you're now dealing with way more in the way of scams, disputes, and account hacks with serious financial fallout. So there's a very good reason for Twitter to stay the hell away from anythi
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Anyone using Twitter at all already sees the seeds planted. Advertising is about every fourth tweet in most feeds. A quick way to pay for that never-ending stream of junk, with Twitter of course taking a few pennies off the top on every transaction, I'm sure sounds appealing to their management team. Whether the users would go along with it or not? I guess time will tell. People do tend to fall for stupid schemes pretty easily.
Banning as a Service (Score:1, Interesting)
Brilliant new business model for Twitter - there are lots of contentious people try to ban all the time.
Well what if you could contribute to a pot, and when that reached a certain about Twitter would ban the desired target user?
Now here's the brilliant part - people could also contribute to an Anti-Pot, which would negate the contributions of the people who wanted to ban someone.
Not since arms manufacturers has there been such a great means of profiting from both sides of a conflict! All of the money would
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That's the dumbest thing you've posted yet.
People get banned for violating the terms of service. It's not a popularity contest. Get a clue.
Is the same Twitter? (Score:2)
Dear Twitter (Score:2)
Dear Twitter:
You are a fun little bulletin board service.
You are not other things.
Hugs and kisses,
The Entire Internet
Good Luck with that (Score:2)
Wonder how that will work after their 75% Work Force Reduction. When a company pivots to crypo, you know it has jumped the shark
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Wonder how that will work after their 75% Work Force Reduction.
That 75% of perceived dead-weight is almost certainly composed entirely of content moderators. Musk is on record that he wants a Twitter far less restrictive on speech, so his planned firings make sense there. I really doubt he's gutting a lot of technical staff.
Crypto is old fashioned now, move on (Score:2)
Ded game