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Bitcoin [BTC]: Lightning Network-enabled Tippin extension gets a thumbs up from Jack Dorsey

Biraajmaan Tamuly



Bitcoin [BTC]: Lightning Network-enabled Tippin extension gets a thumbs up from Jack Dorsey
Source: Pixabay

Bitcoin, the largest cryptocurrency in the world, is in the news lately due to the Lighting Torch experiment, which is promoting its Lightning Network. The CEO of Twitter and Square, Jack Dorsey, has once again come out in favor of Bitcoin and promoted the ‘digital gold’ on the social media platform.

Source: Twitter

Jack Dorsey stated that he supported Tippin, a Sergio Abril-developed Chrome extension that allows Bitcoin holders on Twitter to send and receive tips over the social media platform using the Lightning Network [LN]. Once the extension is enabled, a small lightning bolt icon will appear on every tweet, next to the direct message, like, and retweet icons.

Jack Dorsey also conveyed his support to the Tippin app on social media and tweeted:

Source: Twitter

In a recent interview, Sergio Abril talked about the Tippin app and the main objective behind the creation of this extended feature on Twitter. He said:

“From the very beginning, I wanted Tippin to be an “easy-to-use” service; Lightning Network micro payments [or tips] made easy.  I didn’t want people to struggle with complex signup processes, so I went for a Twitter exclusive signup system.”

Sergio further spoke about the future of micropayments and said:

“Micro payments are finally possibility, and probably an alternative to advertising in some cases. Rewarding users for their content is really nice, and Twitter was a really good candidate for this. With that in mind, and making use of the fact that every Tippin user has the same username on Twitter.”

Sergio Abril added that the main objective behind the extension was to promote Lightning Network adoption and make users more favorable towards the sidechain transactions system. According to data available on, LN has 6,466 nodes, 28,718 channels and a network capacity of 708 BTC [$2.8 million]. The Lightning Network reduces BTC transaction time and fees and allows the whole Bitcoin network to scale.

This isn’t the first time Dorsey has lauded Bitcoin. He recently termed Bitcoin as the future native currency of the internet. He was also a participant in BTC’s Lightning Torch experiment.

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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.


HitBTC responds to allegations of insolvency, refutes claims made by Redditors




HitBTC responds to allegations of insolvency
Source: Unsplash

HitBTC, a Hong Kong-based exchange has been the center of accusations among users on Reddit, Twitter, and other forums. HitBTC users started complaining about issues regarding withdrawal and extensive procedures after one particular user @ProofofReserach put out a thread alleging insolvency of HitBTC.

To put an end to all the accusations, HitBTC has broken its silence with a blog post explaining their side of the story. According to HitBTC, their systems performed well during the winter of 2017-18, however, HitBTC mentioned that due to overwhelming demand for the services, they experienced bottlenecks at an operational level.

Referring to the BitcoinExchangeGuide article, HitBTC responded:

“A widely quoted article, in its entirety, is based on only 2 AML cases. One of them was initiated as part of the investigation into the December, 2018 BTCP security breach, at the request of the coin’s core team. Unfortunately, there is no clear indication of the nature of the second case that can be discerned from the article. The author of the article failed to track the deposit/withdrawal dynamics that did not uncover any irregularities. A simple block explorer or our public System Monitor would suffice for these purposes”

Additionally, referring to the altcoins being added and removed from the platform, the exchange said that they were honored to work with a diverse range of projects, however, since the crypto sphere was still nascent, there were lapses in their judgment in assessing the integration partners. With the above-mentioned prominent cases, HitBTC also addressed other topics.

@ProofofResearch replied to HitBTC’s blog:

“Is there a reason why you’re unable to tell people us where your Bitcoin storage is at? If what I published is as untrue as you claim it is, then providing a wallet address where your Bitcoin funds are stored will go a long way in *proving that*.”

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