“Threads: Meta’s Twitter Competitor Set to Launch on July 6, Will the Crypto Community Embrace the Change?”

As Meta prepares to unveil Threads, its highly anticipated Twitter competitor, on July 6, the crypto community remains skeptical about the platform’s potential. The launch date follows Twitter’s recent controversy involving temporary restrictions on daily post views due to a “rate limit” issue.

Threads, which has strong ties to the popular photo and video-sharing platform Instagram, is scheduled for release this Thursday, as indicated by a countdown site launched by Meta. Additionally, the app has already appeared for pre-order on Apple’s App Store, with an expected availability date of July 6.

Despite the well-timed launch, Threads has received limited attention, particularly from the crypto community active on Twitter. Concerns have emerged regarding data mining, privacy issues, and doubts about the app’s viability as a standalone platform.

Tiffany Fong, a prominent crypto Twitter influencer with 66,600 followers, admitted to being unaware of Threads until now, stating, “I have no clue what the Meta alternative is.” Fong maintains an active Instagram account with 10,400 followers.

In a Twitter poll conducted by crypto influencer Kyle Chassé, who identifies as a “Bitcoin and crypto OG,” over 75% of the 173 respondents expressed their support for “Team Twitter” over “Team Meta.”

Former Twitter CEO Jack Dorsey highlighted the Threads app’s privacy policy, which revealed that Instagram Inc, the developer behind Threads, would have access to various user data, including financial information and identifiers.

However, researchers responded to Dorsey’s post, noting that Twitter has nearly identical permissions to Threads and collects similar data.

Concerns have also been raised regarding the longevity of the app, considering Meta’s track record of either shutting down standalone apps or integrating their features into other products.

Nick St. Pierre, a Twitter user specializing in artificial intelligence developments, reminded others of Meta’s past actions, stating, “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. They have a history of releasing standalone apps for attention, shutting them down, then rolling the features into [Instagram].”

Meta’s Threads launch is scheduled just days after Twitter’s rate limit debacle, which temporarily restricts the number of posts users can view per day. Threads aims to simplify the transition for users by importing their Instagram followers and following lists, sparing them from rebuilding their social networks from scratch.

Earlier reports this year indicated that the standalone Threads app would support ActivityPub, the decentralized social networking protocol that powers Mastodon, a decentralized Twitter rival.

Interestingly, Mastodon has witnessed a recent surge in activity, gaining more active users following Twitter’s implementation of read restrictions. This suggests a growing interest in decentralized alternatives to the mainstream social media platforms.

As Threads makes its debut, only time will tell whether it can overcome the skepticism within the crypto community and establish itself as a viable contender in the ever-evolving social media landscape.

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