Twitter Coin Coming Soon? What Does A Twitter Coin Mean for Dogecoin And Bitcoin?
Rumors are viral on Twitter in the last few hours Elon Musk could soon launch his cryptocurrency a Twitter coin. what this means for Dogecoin (DOGE) or even Bitcoin (BTC) seems unclear at the moment.
Jane Manchun Wong a Blogger and Twitter user posted a screenshot on Twitter post the supposed logo of the Twitter coin.
Few users take a screenshot of the tweets that Elon Musk already developed a Twitter coin logo.
Wong also expressed that the Elon Musk-led company might implement crypto tips and payments in the foreseeable future. A leak of the Twitter API shows a coins section in the hidden tips settings.
Nima Owji also leaked the overview below for a future monetization model on Twitter on the screenshot we can see how Twitter to coin is used for tips.
What Does A Twitter Coin Mean for Dogecoin And Bitcoin?
The crypto community is now speculating what the alleged revelation could mean for Musk's favorite coins DOGE and BTC as it would eliminate the need to integrate both cryptocurrencies.
Elon Musk had shared as recently as Nov 27 his intention for digital payments to be integrated into what he calls Twitter 2.0 'The Everything App'
Elon Musk did not mention DOGE in his tweet, the DOGE price has increased. The community speculated that DOGE was part of Musk's crypto plans for Twitter.
Rumore about Twitter's crypto wallet plans surfaced already back in October after Wong speculated in an Oct 27 tweet that the company had already begun work on a wallet prototype.
New buzz circulating about a "Twitter Coin" and it has been trending. No doubt, twitter is hard at work in integrating a payment system of both fiat & crypto, and no doubt, for crypto, #TwitterPiPayment is the most viable option. Nothing better than Pi out there. Time will tell. pic.twitter.com/kTs3lS4Tk2— Woody Lightyear π (@WoodyLightyearx) December 5, 2022
CEO of Strike Jack Mallers commented that Twitter could become a payment app by adopting Bitcoin.
Does Musk Have Lightning Network on his Radar?
Mallers said that by adopting the Lightning Network Twitter can be a payments business and has the opportunity to buy payment experiences that traditional Twitter can't.
According to Maller Because they can't get into the business of debt and all the regulatory and fixed costs. Chase has that business on lock and now that is not a requirement anymore.
Twitter can become a payment app by adopting #bitcoin— Documenting Bitcoin (@DocumentingBTC) October 4, 2022
Users could buy coffee and checkout at Starbucks, or send remittances across the world using just their Twitter app. @jackmallers explains that @elonmusk has the opportunity to distrupt big bankspic.twitter.com/xF9FB8Flsx
The DOGE price will boost 7.5% at press time currently DOGE is trading at $0.1064.