Meta’s Twitter rival Threads to launch July 6, but will the crypto community budge?

Martin Young4 hours agoMeta’s Twitter rival Threads to launch July 6, but will the crypto community budge?Meta’s microblogging platform is set for launch, with Twitter co-founder Jack Dorsey pointing out the app’s centralization and data harvesting.3921 Total views12 Total sharesListen to article 0:00NewsJoin us on social networksMeta plans to launch its new Twitter rival, Threads, on July 6, only days after Twitter’s “rate limit” debacle, which has temporarily capped how many posts users can read daily.

The platform, which is heavily tied to the photo and video-sharing social network Instagram, is expected to be released on Thursday, according to a Meta-launched countdown site. Threads has also appeared for pre-order on Apple’s App Store, with an expected release date of July 6.Screenshot of Threads’ listing on the Apple App Store. Source: Apple

Despite an arguably well-timed launch, the app appears to have seen limited fanfare, at least from Twitter’s avid crypto community.

Concerns have been raised around data mining and privacy issues, as well as a lack of confidence that the standalone app would survive.

Crypto Twitter influencer Tiffany Fong, who has 66,600 followers on the platform, told Cointelegraph she hadn’t even heard of Threads until now, stating, “I have no clue what the Meta alternative is.” Fong has an active Instagram account with 10,400 followers.

Meanwhile, an ongoing Twitter poll from crypto influencer Kyle Chassé, a self-proclaimed “Bitcoin and crypto OG,” has seen over 87% of the 125 respondents signal support for “Team Twitter” over “Team Meta.”META IS ABOUT TO RELEASE 'THREADS' ON JULY 7th

Which team are you on?— Kyle Chassé (@kyle_chasse) July 4, 2023

Former Twitter CEO Jack Dorsey highlighted the Threads app privacy policy, which indicated that Threads developer, Instagram, would have access to a wide array of user data, including financial info and identifiers.All your Threads are belong to us https://t.co/FfrIcUng5O pic.twitter.com/V7xbMOfINt— jack (@jack) July 4, 2023

However, Twitter has almost exactly the same permissions as Threads and collects similar data, according to researchers who responded to Dorsey’s post.

Others have raised concerns over the possible longevity of the app, given Meta’s previous standalone app launches have either been shut down or had the features rolled into its other products.

“What Meta doesn’t want you to remember is that they already shut down Threads back in Dec 2021 after shutting down another standalone app called Direct,” said Nick St. Pierre, a Twitter user that posts about artificial intelligence developments.“They have a history of releasing standalone apps for attention, shutting them down, then rolling the features into [Instagram].”

Related:Twitter suspends memecoin-linked AI bot after Elon Musk’s ‘scam crypto’ claim

Meta’s expected Threads launch would come just days after Twitter’s rate limit debacle, which has imposed a temporary restriction on the number of posts a user can view in a day.

Instead of users rebuilding a following from scratch, Threads will port Instagram users’ followers and following lists.

According to reports earlier this year, a company spokesperson said the stand-alone Threads app would support ActivityPub, the decentralized social networking protocol powering Twitter rival Mastodon.

Meanwhile, decentralized Twitter rival Mastodon has seen a recent surge in activity, with an increase in active users since Twitter imposed its restrictions.

Magazine: Cryptocurrency trading addiction: What to look out for and how it is treated# Twitter# Facebook# Business# Instagram# Social Media# MetaAdd reactionAdd reactionRelated NewsCan memecoins be used as real currency?Universities use blockchain-based storage to protect and democratize data5 blockchain-based social media platforms to knowEU watchdog targets crypto ads on Instagram, YouTube, TikTok, Twitter‘Keep Australia safe’: Dystopian draft bill against ‘misinformation’ unveiledUS senator pushes tech companies to label AI-generated content