Twitter launches it's own image and video hosting.

I just read that Twitter will be launching it's own photo and video hosting service. What does this mean for twitpic? I personally use Posterous. What will happen to these services? Will they be blocked?

From CNET:
"Twitter is getting its own photo sharing service, CEO Dick Costolo announced at the D9 conference today. It will roll out over the next few weeks to all users. We need to remove the friction from adding photos to Twitter," he said. In addition to making photo uploading easier for all users, he also said that this move will harmonize content ownership: "Users will own their photos," he said, which may not be the case on other sharing services. Photobucket will host the photos on the back-end, but Twitter will own the user interface and provide it to users through its site and apps"