Bitcoin SV’s Twetch Weighs Open-Sourcing Post-Shutdown
On June 6, without any prior warning, the social media platform Twetch—an alternative to X that operates on the Bitcoin SV (BSV) blockchain—suddenly shut down. This unexpected closure left numerous crypto investors unable to redeem or cash out their nonfungible tokens (NFTs) and virtual collections. Responding to one concerned investor, the company simply stated, “We are working on it.” Mysteriously, Twetch’s website offered no explanation for the abrupt shutdown. Users were still able to download the Twetch mobile application from the Apple and Google app stores as of this writing.
Bitcoin SV, on which Twetch operates, was founded by Craig Wright. Wright has spent years claiming to be the individual behind the pseudonym Satoshi Nakamoto, the mysterious creator of Bitcoin (BTC). On March 14, a United Kingdom court definitively ruled that Wright was not, in fact, Satoshi Nakamoto. Despite this controversy, Twetch.com, led by CEO and founder Josh Petty, has no direct ties to Wright.
In the wake of its closure, Twetch left behind an uncertain legacy. A subsequent tweet from the company suggested the social media platform might not be entirely gone. The tweet revealed that Twetch aims to preserve its concept by making its code open-source. The company stated, “We are also seriously considering open-sourcing, so anyone can spin up whatever version of Twetch they want.”
The challenges faced by Web3 platforms like Twetch are multifaceted. While Twetch struggles to maintain a robust user base, competitors like X deal with their own unique issues. One major problem on X is the frequent hijacking of prominent social media accounts by hackers who use them to promote fraudulent investments and crypto funds.
Recently, there was a suspicious activity on Near Protocol’s official X account, which raised alarms of a similar attack. The account, with nearly two million followers, posted several unusual tweets urging followers to “reclaim your sovereignty,” among other odd directives. This spurred concerns that the account had been compromised by malicious actors.
Even as Twetch considers its future, the landscape of social media platforms based on blockchain technology remains uncertain. The potential move to open-source Twetch’s code could democratize the platform, allowing anyone to create their own version of it. Yet, whether this will ensure its continued relevance is still up in the air.
The broader crypto community continues to grapple with security issues and the credibility of its influencers. Amid these challenges, platforms like X must reinforce their security measures to protect users from malicious activities. This ongoing battle underscores the volatile nature of the Web3 space, where innovation and risk often go hand in hand.
The sudden shutdown of Twetch underscores the vulnerabilities and challenges that Web3 platforms face. Whether through open-sourcing its code or other means, Twetch’s story is far from over. As the digital landscape evolves, both users and developers must remain cautious and adaptable to navigate the complexities of this rapidly changing world.
28 thoughts on “Bitcoin SV’s Twetch Weighs Open-Sourcing Post-Shutdown”
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A rollercoaster ride for Twetch users! Hope the platform makes a comeback soon.
Making the code open-source now is too little, too late for those of us left stranded.
The idea of open-sourcing Twetch is brilliant. Cant wait to see the community’s take on it!
Craig Wright drama or not, Twetchs sudden closure is unprofessional.
Why leave us hanging with a vague We are working on it? Trust gone.
Despite the setback, Twetch’s move to open-source could stir up some groundbreaking innovations. Stay hopeful!
How can anyone trust Web3 when platforms like Twetch just vanish? 🌀😩”
Open-sourcing Twetch could turn this setback into a launchpad for new ideas. Optimistic about the future!
This was a shocking turn of events, but open-sourcing Twetch could be a game-changer. Stay strong, crypto community!
I lost access to my entire collection! This is ridiculous!
Web3 platforms have their hurdles, but Twetchs open-source initiative could pave the way for new innovations.
Such a wild ride for Twetch users! Can’t wait to see how the open-source project pans out.
Fingers crossed for Twetchs comeback! Open-source feels like the right move for future-proofing.
This could be an opportunity in disguise. Open-sourcing Twetch might inspire some amazing new platforms!
Adversity often leads to growth! Excited for what open-sourcing Twetch might bring.
This mysterious shutdown screams mismanagement! Not acceptable.
No way to redeem NFTs? This is why people dont trust crypto platforms.
Invested so much time and money only for Twetch to disappear. Unforgivable.
Web3’s evolving landscape is fascinating. Heres hoping Twetchs open-source initiative brings positive change!
Open-source Twetch? Now thats something to look forward to. Excited to see what developers come up with!
The sudden shutdown was alarming! But theres hope with open-sourcing. Lets conquer these Web3 challenges!
Still able to download the appgood sign! Hope Twetchs potential open-source move brings fresh opportunities.
Fascinating decision to go open-source amidst the chaos. Looking forward to see the crypto communitys response!
The sudden shutdown was a shock, but open-sourcing offers new potential. A new era for Twetch?
Unexplained shutdowns are never good, but Twetch’s potential open-source move is exciting. What a twist!
Feels like the platform was a scam all along. What a disappointment.
Twetchs journey isnt over yet! Let’s see how the open-source plan unfolds.
A sudden shut down is tough, but there’s light at the end of the tunnel with open-sourcing. Let’s keep the faith!