PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Kicking China to the Floor: Bitcoin, Lightning, Twitter, Strike, Muddled Together.

By Tim Sloane
February 7, 2022
in Analysts Coverage, Cryptocurrency, Digital Assets & Crypto
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Bitcoin, Discover bans Bitcoin transactions

A Forbes article suggests that China’s efforts to criminalize all forms of cryptocurrencies has not had a significant impact on cryptocurrency values, likely because Twitter enabled cryptocurrencies to be sent and received using the Lightning Network late last year.  Twitter has been integrated to the Strike Bitcoin Lightning wallet service to enable these “Bitcoin tips.”  

The Lightning Network is important in this enablement as it acts as an adjunct to Bitcoin to speed up transactions through aggregation before they are put onto the Bitcoin blockchain. This makes every transaction much faster and lowers the cost to make a transaction:

“In June, the authoritarian government banned local banks from enabling cryptocurrency transactions and outlawed the energy-intensive practice of bitcoin mining, in which specialist computers are put to work solving complex problems in a race to earn newly minted bitcoins.

That clampdown triggered a 20% crash in bitcoin’s price, yet the latest, more draconian measure has moved the needle by less than 5%.

Bitcoin was almost completely unchanged on Saturday, having found strong support at its 200-day exponential moving average.

And while mainstream media outlets like the BBC, Sky News, The Times and The Guardian rushed to report on the negative developments in China, news coverage of the positive adoption by Twitter TWTR +7.1% was almost entirely restricted to financial outlets like Bloomberg and CNBC.

Twitter began integrating the Strike bitcoin Lightning wallet with its platform last week, enabling users to send and receive bitcoin as easily as tweeting out a thought.”

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: BitcoinChinaCryptocurrenciesLightning NetworkTwitter

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    recurring payments, PCI Compliance for small business, Fintech for Underserved Small Businesses

    Tariffs May Create an Opportunity in Small-Business Cards

    May 15, 2025
    Using the Card “Beyond” Payments to find the Holy Grail

    Using the Card “Beyond” Payments to find the Holy Grail

    May 14, 2025
    Payments Modernization

    Playing Offense and Defense: Why Now Is the Time for Payments Modernization

    May 13, 2025
    Authorization Rates

    Boosting Revenue for Merchants by Optimizing Authorization Rates

    May 12, 2025
    Why Payment Orchestration is the key to international merchant growth

    Ensuring Payment Decisions Pay for Themselves

    May 9, 2025
    cross-border

    As Businesses Reevaluate Cross-Border Relationships, Financial Institutions Can Help

    May 8, 2025
    Nacha WEB Debit Account Validation Rule Verification Solution, Quovo ACH Payment

    The Brave New Future of the Disappearing Account

    May 7, 2025
    solana financial

    After an Upgrade, Solana is Primed to Be the Blockchain of Choice for Financial Institutions

    May 6, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result