Last week, Elon Musk bought Twitter. Many people think it was a terrible idea, that he overpaid billions, and that may lead to the platform’s downfall or even his own.
However, during the lawsuit leading to the acquisition, many of his text messages were leaked, giving us a good idea about where he wants to bring Twitter.
If he’s successful in this, I believe Twitter could be the first global crypto product and lead to mainstream crypto adoption. For you and me, this could potentially turn out to be a low-risk, high-reward investment play.
Leaked Texts
Musk has long complained that the two most significant issues with Twitter are spam bots and censorship.
In a message to Parag, Twitter’s ex-CEO, he explains that placing Twitter on a blockchain would be sure to make it censorship resistant.
In a group message, he explained that he could require users to pay 0.1 DOGE coin per Tweet (about 0.01$). The price is irrelevant to most users who post a few times a day, but the spambots would end up paying a lot, thus eliminating them. This idea of using micropayment to eliminate spam has been a long-standing idea in the tech industry.
Elon Musk has always been a fan of DOGE coin. Promoting it and tweeting memes about it. He said it could become the leading cryptocurrency because the most entertaining outcome is the most likely. As of January this year, Tesla now accepts DOGE as a payment method for merch.
Last week, Jane Manchun Wong, who is well respected for her trustworthy insider info at Twitter, mentioned that Twitter has indeed started to work on a crypto wallet.
