How Crypto Twitter could change under Musk’s leadership

Barring one other change of coronary heart and sure circumstances to be met, Elon Musk’s acquisition of Twitter seems to be set to go forward, prompting the query of whether or not some or all the modifications he initially hinted for the platform will change into a actuality. 

The platform is a well-liked communication and information device for crypto lovers, customers and buyers, to not point out crypto scammers. The social media platform sees roughly 120,000 tweets per day about #Bitcoin alone, in keeping with BitInfoCharts.

Trying again at Musk’s preliminary commentary when he proposed a buyout of Twitter may shed some mild on what modifications he envisions for the platform.

A deal with free speech, eliminating spam bots and pretend accounts, an edit operate, and presumably even crypto funds have all been thought of and will nonetheless be on the agenda if the deal goes via.

Spam bots and faux accounts

One potential space of focus is round Twitter’s alleged spam bots.

Throughout a TED Discuss in Vancouver in April, Musk stated that if his provide to purchase Twitter had been profitable, a “high precedence” can be the elimination of spam and rip-off bots from the platform, noting on the time:

“A high precedence I might have is eliminating the spam and rip-off bots and the bot armies which can be on Twitter.”

“They make the product a lot worse. If I had a Dogecoin for each crypto rip-off I noticed, we’d have 100 billion Dogecoin,” he stated.

He has proposed to topple them by “authenticating all people,” and even made the assertion: “We are going to defeat the spam bots or die making an attempt!”

Points regarding spam bots later turned one of many key arguments Musk used to attempt to stroll away from the deal.

Free speech, and the return of Trump?

Musk initially addressed his stance on free speech in a tweet again in April, stating on the time, “I hope that even my worst critics stay on Twitter, as a result of that’s what free speech means.”

Within the months since, he has not publically modified his stance and elaborated on what that might imply for the platform, together with a return of former United States President Donald Trump, who was completely banned from Twitter following the Jan. 6, 2021, U.S. Capitol riot.

Musk said in a Could 13 tweet that whereas he thinks Trump ought to most likely not run for president once more as a result of he’s “divisive,” he does suppose he must be “restored to Twitter.”

Algorithm made public

Musk has additionally considered making Twitter’s algorithm accessible to the general public, even making a ballot that in the end noticed over 1 million votes and had 82% of respondents saying “Sure” to the proposal.

It’s not solely clear what Musk has in thoughts, but it surely may imply permitting the software program to be open for public inspection and permitting customers to learn the code, use it for his or her purposes and make solutions for modifications to the way it works.

Different concepts

Different concepts have both fizzled out or have already been carried out, resembling plans to make use of blockchain expertise and charging 0.1 Dogecoin (DOGE) per tweet or retweet, which Musk later stated wouldn’t be possible.

Associated: Musk’s deal for Twitter seems to be set to go together with authentic $44B price ticket

Musk additionally had the thought of including an edit button and long-form tweets. Nevertheless, Twitter might have crushed him to the punch with the edit button after the platform revealed that choice not too long ago.

The crypto neighborhood continues to be divided over whether or not the transfer might be a constructive transfer for the platform, however others have taken to poking enjoyable on the complete state of affairs.

Twitter seems prepared to simply accept the phrases of the deal, asserting in an Oct. 4 Twitter put up it intends to shut the transaction at $54.20 per share.

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