Elon Musk has confirmed that he plans to charge people for Twitter’s blue tick. After that, the price of Dogecoin (DOGE) rose. In the middle, the questioning continues about the background of Elon Musk’s acquisition of Twitter.
Elon Musk said priced blue tick, Dogecoin price rises
At first, rumors surfaced that one of Elon Musk’s plans to generate revenue for Twitter was the price for blue ticks. However, the platform quickly caused reflection from users. One of these critics was author Stephen King, who was among the site’s most prominent users. King shared the following regarding the bet:
$20 a month to keep my blue tick? Damn, they have to pay me. If this gets institutionalized, I’ll go with Enron.
However, Elon Musk said the change was an attempt to generate revenue and would help reduce spam rather than encourage it. He was about to confirm that change was coming. He also started negotiating with the author about how much the monthly price should be for the verification process. Musk made the following statement in this direction:
We need to pay the bills in a form! Twitter cannot completely trust advertisers. How about 8 bucks? Before this is implemented, I will explain the logic in a longer way. This is the only way to defeat bots and trolls.
Elon Musk seems to have put an end to the process that continues in this way. In his post today, he drew attention to the following issues:
Twitter’s current system of lords and peasants with or without a blue checkmark is bullshit. Power for humans! Blue tick for $8 a month. A price adjusted by country in proportion to purchasing power parity.
In addition, Musk claimed that this would bring some advantages. In this context, he mentioned the following privileges:
Priority in responses, mentions and search needed to beat spam/scam. The ability to broadcast long images and audio. Half the ad. Paywall bypass for publishers who want to work with us. This will also provide Twitter with a revenue stream to reward creators.
However, he did not go into the ‘crypto payment’ issue that crypto investors are looking forward to. However, one follower said, “Great. Payment in crypto?” liked your comment. This was also taken as a sign and ignited DOGE. Dogecoin jumped as high as $15.72 on the day.
The real reason Elon Musk bought Twitter
Koindeks.com As you follow, Elon Musk officially took over Twitter last week. The media world, who spends most of his day on the social media platform, has become obsessed with his goals. Did he buy Twitter to advance a far-right political agenda? Why did Twitter move a sink to its headquarters? Is he planning world domination? For investigative journalist Jeff John Roberts, the response is easier: It’s all about payments. Roberts makes the following different arguments in his article.
Musk is, of course, a segment of the ‘PayPal Mafia’, the gang that founded the giant payments platform in the late ’90s and continues to be billionaires. Payments are in Musk’s blood. One of his first companies is a payments business called X, which he revives for a mysterious Twitter thread he claims will reach 104 million users by 2028. Caitlin Long, a respected former Morgan Stanley banker and now running a stablecoin company, says Musk has no doubts that he is using Twitter as a tool to further his long-held wish to re-regulate the payments industry.
“His entire career has been trying to eliminate ACH,” Long says, citing the money transfer network that Banks operates. It has long been playing Musk’s Twitter game as the reincarnation of Libra, which is trying to provide crypto wallets to Facebook’s more than 1 billion users. The plan fell through under the harsh scrutiny of Congress. But Long says Twitter can succeed where Facebook fails. He notes that the payment backbone is the Bitcoin Lightning network, a mostly decentralized structure that does not have the same political baggage as a project led by Mark Zuckerberg.
If you want more proof that Musk’s Twitter purchase is a payment game, check out some of the people he brought in to help him. Binance founder Changpeng Zhao. Another PayPal Mafia member with a deep interest in crypto is David Sacks. Sriram Krishnan, who has invested in a16z Crypto and has an Ethereum address on his Twitter account. Does this sound like a political and media operation or the making of payments?