Meta’s Twitter Rival Threads Will Launch On July 6th, But Will The Crypto Community Bow Down?

Meta plans to launch its new Twitter rival, Threads, on July 6, just days after Twitter’s “rate limit” debacle, which temporarily limited how many posts users can read per day.

The platform, which is closely related to photo and video-sharing social network Instagram, is expected to be released on Thursday, according to Meta-Launch Countdown. site, there are threads appeared The expected date for pre-orders on Apple’s App Store is July 6th.

Despite launching at arguably the right time, it appears that the app has received limited praise, at least from Twitter’s enthusiastic crypto community.

Concerns have been raised about data mining and privacy issues, and there is a lack of confidence that the standalone app will even survive.

Crypto Twitter influencer Tiffany Fong, who has 66,600 followers on the platform, told Cointelegraph that she hadn’t even heard of Threads until now, adding, “I don’t know what a meta option is.” Fong has an active Instagram account and has 10,400 followers.

Meanwhile, over 87% of 125 respondents to an ongoing Twitter poll by self-proclaimed “Bitcoin and crypto OG” crypto influencer Kyle Chase have indicated support for “Team Twitter” rather than “Team Meta.”

Meta to release ‘Threads’ on July 7th

Which team are you on?

— Kyle Chasse (@kyle_chasse) 4 July 2023

Former Twitter CEO Jack Dorsey shed light on the Threads app privacy policy, indicating that Threads developer, Instagram Inc. will have access to a wide range of user data, including financial information and identifiers.

all your threads are ours pic.twitter.com/V7xbMOfINt

— Jack (@jack) 4 July 2023

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

Others have raised concerns over the app’s potential longevity, as Meta’s previous standalone app launches have either been discontinued or incorporated features into its other products.

“Meta doesn’t want you to remember that they already shut down Threads in December 2021 after shutting down another standalone app called Direct.” Said Nick St. Pierre, a Twitter user who posts about artificial intelligence developments.

“They have a history of releasing standalone apps to get attention, shutting them down, then bringing features into (Instagram).”

Connected: Twitter suspends AI bot linked to Memecoin after Elon Musk claims ‘scam crypto’

Meta’s expected Threads launch comes just days after Twitter’s rate limit debacle, which put a temporary cap on the number of posts a user can see in a day.

Instead of users having to recreate followings from scratch, Threads will port Instagram users’ followers and following lists.

According to reports from earlier this year, a spokesperson for the company Said That the stand-alone Threads app will 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 banned reading.

Magazine: Cryptocurrency trading addiction: what to watch out for and how to treat it