The deal to buy Twitter has fallen through meaning that the multibillionaire magnate Elon Musk won’t be purchasing the most influential social media platform in the US. However, his plans and intentions were quite interesting and sparked many discussions in the crypto community and among libertarians. It is clear that there is a culture war going on and sides are choosing ways to approach the issue of using public platforms to push their agendas.
Those who push for truly free speech and lightly moderated discussions are now interested in the model proposed by the owner of Tesla Inc.
Paying to post and earning by engaging
Elon Musk wanted to charge people 0.1 DOGE for sending a message on Twitter not entirely to profit but to solidify every message by putting it on a blockchain so that the platform would finally get rid of bots and people who are just spamming their political opinions without any control. While such an approach would immediately make many discussions pay-to-win, there are many merits to using this concept.
Also read:The monetization of the app would come not from advertisers that often push social media websites to closely monitor their content and remove anything that could harm their relationships with marketers, but from user engagement and activity. 0.1 DOGE is currently a negligible payment that many users will be able to afford.
Elon Musk’s idea looks even more realistic and achievable considering who was supposed to be his partner in this endeavor. No other than the CEO of FTX wanted to help Musk to muster the necessary funds to buy Twitter.
It is sad how the crypto industry reacts to Musk’s statements
DOGE was designed to mock the idea of Bitcoin. However, it was turned into a millionaire-making machine after a single tweet from Elon Musk turned the token into an asset with a market cap higher than 99.95% of coins in the market. It was weird. At the same time, a couple of appearances from Musk on SNL, and the value of DOGE tumbles down.
It is time to stop listening to people like Musk. Do Your Own Research! Make decisions based on what you believe is true.
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