Twitter to allow users to add BTC and ETH addresses to profiles: Screenshots

While the news is unofficial at this stage, Twitter’s product lead Kayvon Beykpour hinted that there could be an announcement soon.

Twitter appears to be developing functionality that enables users to add Bitcoin and Ethereum addresses to their profiles.

The latest update is believed to be a part of Twitter’s Tip Jar feature — which was introduced in May this year — and adds to reports which surfaced earlier this week that the firm would enable Bitcoin (BTC) tipping for content creators.

Italian mobile developer and self-described “leaker” Alessandro Paluzzi tweeted screenshots on Sept. 3 which showed BTC and Ethereum (ETH) wallet address options in the settings toolbar of the app version of Twitter.

While the news is unofficial at this stage, Twitter’s product lead Kayvon Beykpour retweeted Paluzzi’s Sept. 1 post about the BTC tipping feature with the lighting and “soon” arrow emoji.

Twitter CEO Jack Dorsey hinted in July that BTC tipping was a part of its broader plans to integrate that asset into the platform via avenues such as commerce and subscriptions.

An Aug. 31 report from MacRumours claimed that the BTC tipping feature will utilize Lightning Network payment platform Strike. However Paluzzi has suggested that “it is not necessary to link a Strike account” to add BTC addresses to user profiles.

Related: Ethereum alone not enough to disrupt Big Tech: Jack Dorsey

Dorsey’s Square Inc has outlined multiple BTC initiatives in 2021, including an assisted custody wallet and BTC-based DeFi services. The idea of digital gold being used to tip content creators on Twitter is unsurprising given that Dorsey is a BTC maximalist, however the inclusion of ETH appears to be uncharted territory for the tech leader who has notably refused to have anything to do with the second most popular cryptocurrency in the past.

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Powered by the people: 3 altcoins whose tweet volume spiked before a strong rally

In some cases, unusually high tweet volume can signal that an asset is about to soar, but traders should mind the context.

On Crypto Twitter, a surge of attention directed at a coin often comes in response to dramatic price action. Quite naturally, rallying assets attract the attention of traders and take over Twitter conversations, which can also create positive feedback loops that further prop up the momentum.

This is exactly what happened with some of the coins that saw a greater increase in average daily tweet volume this month, compared with the last. KuCoin Shares (KCS), which went up from $7.40 on July 4 to $14.20 on July 14, generated a staggering increase in average tweet volume, totaling more than 1,100% month-to-month.

Another big winner in terms of price, Axie Infinity (AXS), added 456% in tweet volume over the same period. In both cases, tweets mirrored the rallies’ dynamics, with the tweet volume curve closely following the price chart.

In other cases, however, the relationship can be reversed. Sometimes, the Twitter crowd picks up the news or emerging narratives that the wider market has yet to absorb, producing tweet volume spikes that come before price increases. Is there a way for traders to spot these dynamics early enough to gain an edge over the rest of the pack?

Data intelligence for early birds

Tweet volume is one of several metrics used to calculate the VORTECS™ score, an algorithmic indicator that compares complex patterns of market and social activity of an individual digital asset to years’ worth of historical data.

Exclusively available to Cointelegraph Markets Pro (CTMP) subscribers, the algorithm assesses parameters such as the market outlook, price movement, social sentiment and trading activity to generate a score that shows how suitable conditions of the observed combinations are for any coin at any given time.

On top of that, there is a dedicated space on the Markets Pro dashboard featuring assets that see abnormal tweet volume in real-time. Once they are alerted that something is brewing around a coin on Twitter, traders can be incentivized to take a closer look at the asset and make a judgment as to whether its price is likely to go up soon.

Here are three examples from the last thirty days where Twitter activity foreshadowed price action.

Crypto.com Coin

CRO’s Price vs VORTECS™ chart. Source: Cointelegraph Markets Pro

In the case of Crypto.com Coin (CRO), the source of Twitter users’ excitement is crystal clear: A few hours before the coin flashed on Markets Pro’s Unusual Twitter Volume box (red circle in the chart), it emerged that CRO became the first digital asset platform to partner with the Ultimate Fighting Championship, or UFC. The announcement was also delivered to Markets Pro users seconds after the original source published it, thanks to the platform’s instantaneous NewsQuakes™ functionality.

Unsurprisingly, the big news triggered a sprawling Twitter conversation. If traders had not been convinced by NewsQuake™ and coin’s rising VORTECS™ score, the skyrocketing tweet volume could be the final argument in favor of opening a CRO position. The coin had been valued at $0.113 when tweet volume peaked on July 8, and it kept climbing in the next four days, eventually hitting $0.132 before the price began to decline.

Quantstamp

QSP’s Price vs VORTECS™ chart. Source: Cointelegraph Markets Pro

Establishing what had triggered the surge of tweets referencing Quantstamp (QSP) around June 1 is less straightforward. One potential reason could be the launch of oneFIL, a stablecoin for the Filecoin community, around that time.

The protocol behind oneFIL is audited by Quantstamp. While QSP generates just a handful of Twitter mentions per day, on July 1 it got over 150 tweets, immediately putting it on the Markets Pro radar (red circle in the graph). While the peak tweet volume corresponded to the QSP price of $0.030, the coin pulled off a strong performance in the following days, reaching $0.034 on July 4, continuing to push further.

Flow Dapper Labs

FLOW’s Price vs VORTECS™ chart. Source: Cointelegraph Markets Pro

Flow Dapper Lab’s (FLOW’s) peak tweet volume came late on July 10 (red circle in the graph) in response to a highly successful week that the asset had, more than doubling its price from $9 to over $18.

A high VORTECS™ score that FLOW received some 50 hours earlier indicated that in the past, such rallies unfolded in several rounds and that historical precedent suggested a possibility of the second leg. Sure enough, the price kept climbing even after the wave of tweets began to recede, eventually hitting $21.20

These examples demonstrate that, while an onslaught of tweets alone is not always a harbinger of an impending rally, spotting abnormal Twitter activity early on can lead to a profitable trade. It can be especially useful when combined with other metrics and a robust understanding of the coin-specific context.

Disclaimer. Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions. Full terms and conditions.

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No, Jack Dorsey isn’t trolling ETH by making its logo the Ethiopian flag

“Great to see Jack and the crypto community supporting the #ETH athletes!” the Official Olympics account posted earlier today after Ethereum got a new ‘logo’.

Crypto Twitter was united in amusement today when the hashtag #eth began to automatically show the Ethiopian flag as the Ethereum ‘logo’.

Given Twitter CEO Jack Dorsey’s love of Bitcoin and the fact Bitcoin has its own Twitter icon many wondered if Dorsey was subtly trolling Ethereum (ETH). After all he’s a staunch Bitcoin (BTC) maximalist that has refused to consider buying into ETH and other altcoins on multiple occasions and has repeatedly stated that Bitcoin will become the internet’s native currency.

The Twitter and Square founder certainly saw the funny side of it, Tweeting “#eth”  which drew the attention of the official Olympics account which said it was “great to see Jack and the crypto community supporting the #ETH athletes!”

Twitter influencer Crypto Cobain also found the funny side and tweeted “HAHA” to his 403,400 followers that “this is perfect.”

NFL footballer Sean Culkin, who is converting his entire 2021 NFL salary into Bitcoin, wondered why so many people were “not realizing its a troll”

Bitcoiners such as “Bitcoin Meme Hub” jumped in the joke by posting fake Tweets from Ethereum co-founder Vitalik Buterin supposedly stating that “this is not funny Jack.”

Hashflags

In fact, the Ethiopian flag had nothing to do with Ethereum at all. The social media platform has been attaching flags to hashtags of nations competing in the 2021 Tokyo Olympics. The promotion is part of a ‘hashflags‘ campaign that the platform also did for the 2016 Olympics in Rio De Janeiro.

Related: Aave founder hints at developing ‘Twitter on Ethereum’

Interestingly the Twitter CEO used the Ethiopian flag to promote Bitcoin earlier this year, after he retweeted lobbying efforts from a group of Ethiopian-based entrepreneurs dubbed “Project Mano” who were urging their government to consider mining and hodling BTC.

Dorsey this week spoke at “The ₿ Word,” — a virtual Bitcoin event alongside Tesla CEO Elon Musk and Ark Invest CEO Cathie Wood. During the event, Dorsey outlined his hope that Bitcoin “creates world peace or helps create world peace.”

“We have all these monopolies off balance and the individual doesn’t have power and the amount of cost and distraction that comes from our monetary system today is real and it takes away attention from the bigger problems,” he said as he emphasized Bitcoin’s potential for solving financial inequality.

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Singapore PM tells followers to ‘remain vigilant’ on crypto after seeing name used to sell tokens

“I have nothing to do with the platform,” said Lee Hsien Loong. “It is misleading and done without my permission.”

Lee Hsien Loong, Prime Minister of Singapore, claims someone set up a profile on the social token platform BitClout to sell tokens using the information from his Twitter account. 

In a Facebook post Friday, Loong urged Singaporeans to “to remain vigilant when dealing with cryptocurrency platforms.” He said that someone had used BitClout to create one of the platform’s Creator Coins using his name, Twitter account bio, and photo. According to the screenshot Loong posted, there were 27.4088 of his tokens with a market capitalization of more than $9,800, with at least one user holding $4.77 worth.

“I have discovered that my Twitter profile (and others as well) has been used without my permission or knowledge on a blockchain platform that allows users to buy and speculate with its proprietary cryptocurrency,” said the prime minister.

He added:

“The site’s creators are anonymous, but I have sent an open tweet out to ask that my name and photo be removed from the site immediately, as I have nothing to do with the platform. It is misleading and done without my permission.”

Loong’s account has since been removed, but could have been added to the platform at launch. According to BitClout, the site pre-loaded the top 15,000 Twitter influencers — purportedly based on the number of followers — allowing users to “buy and sell their coins even though they’re not on the platform yet.” The Singapore PM has more than 792,000 followers.

However, it appears that the figures behind the BitClout accounts do not have to reserve their profiles for the buying and selling of the tokens to start. Tesla CEO Elon Musk’s BitClout profile shows he has not officially joined the platform, but many users are currently holding his tokens, worth $89,379.39 each at the time of publication. When creators activate their accounts by tweeting out their BitClout address, they’re entitled to claim a certain number of their own tokens.

The prime minister’s warning went out to his 1.6 million Facebook followers in addition to his Twitter followers, but was purportedly intended for all 5.7 million people living in Singapore. Loong seemed to imply investing in the crypto platform was akin to “falling prey to scams,” and encouraged users to only deal with companies regulated by the Monetary Authority of Singapore.

BitClout has also attracted the attention of former Baywatch star Pamela Anderson, who is handing out signed copies of her final 2016 Playboy magazine cover to the three biggest holders of her Creator Coin. Anderson’s token is currently valued at $6,749.89 with a market cap of more than $800,000.

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Crypto Users Claim Popular Bitcoin Paper Wallet Generator Is Compromised, Millions Allegedly Stolen

Crypto Users Claim Popular Bitcoin Paper Wallet Generator Is Compromised, Millions Allegedly StolenA number of forum posts and tweets say that the website bitcoinpaperwallet.com is compromised and people have said they have lost bitcoin using the paper wallet generator. Three years ago the website domain changed ownership and ever since then losses have been reported on Reddit forums, bitcointalk.org, Twitter, and other public venues. The owner of […]
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