Twitter Rolls Out Bitcoin Price Quotes

The addition of Bitcoin price quotations to Twitter’s social media platform occurred around the 18th of April. The price quotations are provided by the charting platform TradingView, however they are only accessible for the price of Bitcoin. Price quotes for other major cryptocurrencies are not provided. The accompanying Bitcoin price chart includes a link that users may use to purchase or sell Bitcoin on the Israeli cryptocurrency market known as eToro. In addition, a caution that reads “Your Capital Is At Risk” is shown beside the chart that displays the price of bitcoins.

Twitter has emerged as an essential component of the retail investing community, and it is anticipated that the inclusion of Bitcoin price quotations will play a big role in the dissemination of financial news and the acquisition of information. The implementation of “$Cashtags” has the goal of elevating users’ familiarity with the Bitcoin market on the site and encouraging more user participation therein.

Elon Musk made the declaration on the 17th of April that he would develop a piece of artificial intelligence software that he would call “TruthGPT” in order to battle what he considers to be a left-wing bias in the media business. It is anticipated that the AI software would actively seek the truth and encourage impartial reporting.

While Twitter is the most recent social platform to integrate Bitcoin price quotes, on April 10th, Douyin, the Chinese counterpart of TikTok, began providing Bitcoin price quotes to an estimated 730 million users in Mainland China. Twitter is the most recent social platform to incorporate Bitcoin price quotations. The quotations were, however, taken down a day later and replaced with a statement that warned users that “unofficial digital currencies do not possess the same legal standing as fiat currencies.”

The introduction of Bitcoin price quotations on Twitter’s social media platform is a big step towards expanding knowledge of and involvement with the cryptocurrency market on social media. This is because Twitter is the largest social media platform in the world. In addition to this, it brings to light the ever-increasing significance of cryptocurrencies in the financial sector, as well as the need of reliable information and impartial reporting.


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Fake Video of ECB President Lagarde Admitting to Digital Euro Control

A video of European Central Bank (ECB) President Christine Lagarde has been making the rounds on social media, with many believing it to be real. In the video, Lagarde appears to be admitting that a digital euro will be used to control payments in a limited manner. However, it has since been revealed that the video was a fake.

The video was initially shared by the breaking news account Watcher Guru on April 6, and it generated a significant amount of social media chatter. In the video, Lagarde is heard saying that she does not want to rely on an “unfriendly countries currency” or a currency provided by a “private corporate entity like Facebook or like Google.” She goes on to say that she is “personally convinced that we have to move ahead” with the digital euro.

It has since been revealed that the video was taken from a prank video created by a group of individuals who have had similar conversations with other public figures. Harry Potter author J.K. Rowling and former United States President George W. Bush have also fallen victim to similar hoaxes.

The ECB has not yet announced any concrete plans for the development or implementation of a digital euro. However, the idea of a central bank digital currency has been gaining traction in recent years, with many countries exploring the potential benefits and drawbacks of such a system.

A digital euro could potentially provide a number of benefits, including increased financial inclusion, lower transaction costs, and greater security and privacy. However, there are also concerns about the potential risks and challenges associated with such a system, including the possibility of cyber attacks and the need to balance privacy concerns with the need for transparency and accountability.

In light of the recent hoax video, it is important to exercise caution when consuming news and information online. Misinformation and fake news can spread quickly, and it is important to verify the authenticity of sources and information before sharing or acting on it. The ECB has not made any official announcements regarding the use of a digital euro, and any news or rumors should be taken with a grain of salt until confirmed by credible sources.


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Biden urges technology firms to prioritize safety in AI development

During a meeting with science and technology advisers on Tuesday, US President Joe Biden raised concerns about the safety of artificial intelligence (AI) and urged technology companies to prioritize safety when developing and releasing AI products. While acknowledging the potential benefits of AI in tackling issues such as disease and climate change, Biden stressed the need to address possible risks to society, national security, and the economy.

“It is yet to be determined. There is a possibility,” Biden replied when asked about the potential hazards of AI. He cited the negative impact that powerful technologies can have in the absence of appropriate measures to protect against them, citing social media as an example. “Absent safeguards, we see the impact on the mental health and self-images and feelings and hopelessness, especially among young people,” he said.

Biden emphasized the importance of technology companies ensuring their products are secure before releasing them to the public. He called for the U.S. Congress to approve non-partisan privacy laws that limit the personal data gathered by technology firms, prohibit child-targeted advertising, and give priority to health and safety in product development.

In recent years, there has been growing concern about the potential risks associated with the development and use of AI. While AI has the potential to revolutionize many industries and address complex global issues, it also poses significant risks to society, including job displacement, bias, and the potential for unintended consequences.

The Center for Artificial Intelligence and Digital Policy, a technology ethics organization, recently urged the U.S. Federal Trade Commission to prevent OpenAI from releasing new commercial versions of GPT-4, a language model that has both impressed and alarmed users due to its human-like capacity to create written responses to prompts.

The debate over the safety of AI is likely to continue as technology continues to advance at a rapid pace. Biden’s call for technology firms to prioritize safety and for Congress to enact privacy laws that prioritize health and safety in product development is an important step towards ensuring that the benefits of AI are realized while minimizing the risks.


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Damus, a decentralized social network teased an upcoming feature

The decentralized social network Damus has hinted that its mobile application will soon include a feature that would enable users to earn satoshis, the smallest fraction of Bitcoin (BTC), depending on the interaction they get on their posts on the site.

In a tweet, the Damus team brought attention to the fact that the “coming soon” version of the app would have a function that enables users to earn satoshis and that this function will be available “soon”. After the first statement, the team did not give any more information.

Damus markets itself as a decentralized social network that is user-run and does not depend on centralized businesses for its functionality. The program is based on Nostr, which stands for “Notes and Other Stuff Transmitted by Relays.” It is a decentralized network that makes it possible for users to communicate with one another in a private setting. Within the confines of its network, there are no servers. Instead, messages are sent across the system through a decentralized network of relays.

Members of the community as a whole have shown their enthusiasm for the newly implemented Damus function, with some even going so far as to refer to Nostr as “the future of monetization.”

Jack Dorsey, who formerly served as CEO of Twitter, has also been showing his support for the Nostr initiative by contributing financial resources to its creators. Dorsey said on the 16th of December that he had contributed 14 BTC, which was equivalent to around $250,000 at the time, to assist in the growth of the decentralized social network.

On February 1, Damus was released to the public on the Apple App Store and became accessible for users of the iPhone to download. After this, Jack Dorsey also announced the news through his Twitter account, where he referred to the change as a new “milestone” for open-source protocol development.

Back on December 14, the former CEO of Twitter advocated for the establishment of a decentralized Twitter alternative. This was in response to the publication of the findings of an internal inquiry that had been headed by Elon Musk and had shown problems relating to censorship on Twitter. Dorsey addressed various solutions to the problems, such as resistance to control by corporations or governments, giving writers the authority to delete their own material, and using algorithmic moderation.


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Sending Ethereum Tips on Twitter Becomes a Reality

After enabling Bitcoin tipping on its platform in September 2021, Twitter has stretched its hands by adding Ethereum to the mix. 

Through a tweet, Twitter said:

“Have you set up Tips on your profile yet so it’s easy for people to show their support? Yes: Cool, we’ve added Paga, Barter by Flutterwave, Paytm, and the option to add your Ethereum address.”

The tipping mechanism enables users to ask for support from different influencers and content creators on Twitter. Therefore, the latest development will allow Twitter users to send tips through the Ethereum (ETH) network.

The Bitcoin tipping feature used the Lightning Network payment gateway Strike to generate BTC Lightning invoices needed to make the payments. 

Therefore, the social media giant is opening up more opportunities by enabling ERC-20 tokens and ETH tips to be made through payment channels like Paytm, Barter by Flutterwave, and Paga.

Johnny Winston, the lead product manager of creator monetization at Twitter, welcomed this development and stated:

“We’re continuing to expand ways to get paid on Twitter which includes more choices for creators and fans who want to use crypto. We’re excited to add the ability for anyone to add their ETH address to Tips.”

Nevertheless, the new feature is not open to domain names utilized by the Ethereum Name Service (ENS). 

Twitter continues to delve deeper into the Ethereum ecosystem, given that it presented an official verification mechanism for non-fungible token (NFT) avatars, allowing some users to set the NFTs they owned as their profile picture last month.

The Twitter avatar of the verified NFT would be different from the standard avatar because it would entail a nice hexagonal border instead of a circle, denoting ownership on the blockchain.

Image source: Shutterstock


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OnlyFans offers NFT profile picture feature

Amrapali “Ami” Gan, OnlyFans’ CEO, commented in a statement to Reuters that the online subscription platform known for adult content will enable creators to make nonfungible token, or NFT, profile pictures.

“Our mission is to empower creators to own their full potential. This feature is the first step in exploring the role that NFTs can play on our platform.”

OnlyFans will only support NFTs minted on the Ethereum (ETH) blockchain and that an Ethereum icon next to the NFT profile picture would signal authenticity, as claimed by Reuters.

According to the company, OnlyFans introduced the feature in December when Gan, the newly-appointed CEO, took over. Upon assuming the role, Gan said in a statement that the platform shows its commitment to safety “by blending state of the art technology with creative capital.” 

Related: YouTube CEO hints that NFTs could be added to creator platform

UK-based OnlyFans follows Twitter in introducing NFT profile pictures to its platform. Reddit has also reportedly been testing out NFT profile pictures, while YouTube has stated that NFTs offer “a compelling prospect for creators and their audiences.”