CRYPTO COMPONENT ON TWITTER

Elon Musk's decision to rename Twitter to X is consistent with his declared desire to transform Twitter into a significant payments app. He hopes to make it like WeChat in certain ways. If you're not familiar with WeChat, it's an East Asian program that functions like social media and accepts payments. If he does manage to pull this off, it will be quite intriguing because Twitter is kind of a big deal. It's not the most popular social media app worldwide. That would have been more significant if Facebook had successfully executed some sort of major crypto effort. Twitter's 450 million monthly active users suddenly using a payments app would be enormous if we started to see alternatives for sending money back and forth on the social media platform. Twitter undoubtedly has a vibrant crypto community.

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Because they have made it possible for producers to be paid, Twitter may really attract a lot more users. Because they want a piece of that sweet money payout pie, you might start to see more large creators like Mr. Beast and all of these others who don't typically spend a lot of time on Twitter start to do so. Elon has stated that they would soon invest heavily in video content and that they will pay artists 10% more than YouTube does, which means that these creators will come to Twitter and bring their audiences with them. If those users bring their friends over, we might see a huge increase in the 450 million monthly active users.

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If Twitter starts accepting money, even at its present rate, this will have a significant impact. You'll get access to all of your social media, videos, misinformed opinions, memes, and other online craziness with this app, which may be the everything app. There will be a crypto component, so it won't just be money. This might be a game-changer for the adoption of cryptocurrencies and fast become the most popular cryptocurrency app worldwide. He is striving to put the pieces together so that Twitter may legitimately have an application that can offer payments similar to what PayPal does. Twitter already has money transmitter licenses in a number of States.

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Elon Musk is well-known for being a major lover of cryptocurrencies, so if he can do it, he will. The thing about Elon, which is, you know, one of the reasons why we adore Elon, is that despite being a billionaire, he somehow manages to feel like one of us. He is also a total online nerd who is preoccupied with both technology and cryptocurrency.He does appear to be affected by Dogecoin in some way. For instance, Dogecoin increased by 3%, which is hardly a significant rise for Dogecoin, when Elon tweeted about it and posted some Scooby-Doo memes. Although in comparison to how significant some of the shifts have been in the past, that is a really tiny move.

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Elon also temporarily replaced the Twitter logo with the Dogecoin logo. That was humorous; yet, it is important to consider what lies underlying the humorous anecdote. Of course, Tesla still owns Bitcoin valued at hundreds of millions of dollars. When will Twitter launch a payments app then becomes the question. Will the Bitcoin Lightning Network be integrated if any cryptocurrency is added? Jack Dorsey undoubtedly desired for that to happen, but given how Twitter was operating at the time, he was never able to make it happen.

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Elon may be more motivated to host events of this nature now that he is aware of the success of Cash App's Bitcoin sales to its users. When Dogecoin is used for tipping and payments, Twitter will probably add features like the ability to purchase apps. where you'll see folks running advertisements for coffee and t-shirts. With a single click, you can purchase something and pay with Bitcoin or Dogecoin right from the Twitter app.