I will support Elon Musk if he creates a stablecoin for Twitter

Abiky

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Quote from: DashingAgent on November 27, 2022, 02:21:02 AM

I will support Elon Musk if he creates a stablecoin for Twitter

I will support Elon Musk if he creates a stablecoin for Twitter and also pays users for free, If Elon Musk pays $1 million per user per day, it would make the world rich quickly, Moreover, it will also provide liquidity to Bitcoin and other cryptocurrencies. I didn't support Mark Zuckerberg because he wanted to become the richest person in the world by creating more assets as a stablecoin and because Mark Zuckerberg wasn't even interested in Bitcoin, I refused to give approval to the US and European governments either. If Mark Zuckerberg had created a stablecoin, it would hardly have benefited users.

I don't think a stablecoin backed by Elon Musk is a good idea. It's going to be worse than Facebook's proposed stablecoin. Besides, why would you want a centralized stablecoin that's no different than ordinary Fiat? A coin that's issued by a private company comes with a lot of risks compared to a traditional Fiat currency that's backed by the government. Mr. Musk previously announced his intention to add Dogecoin as a payments tool for Twitter, so we'll see if he will keep his promise in the long run.

With what happened with Terra's UST stablecoin, I'd think twice before putting all of my life savings into any kind of stablecoin on the market. That includes Tether (USDT) and USD Coin (USDC). If you really want to play it safe, just sell your crypto for real cash. Problem solved. Who knows if sometime in the future governments decide to ban stablecoins for good? Just my opinion

Valeriary

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Is Musk an idiot? Send money to people every day? He may appear to be a great philanthropist off camera. But Musk is a businessman, and he will consider the consequences before making any decisions. I will not support him. Everyone use their brains to think about problems.

asawale

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Quote from: Oshosondy on November 27, 2022, 06:25:12 AM

You want Elon Musk to create a stable coin, while you did not support Mark Zuckerberg to create one. What makes Elon Musk and Mark Zuckerberg to be different?

Elon Musk and Mark Zuckerberg are just business minded people and they do not concern about others getting rich at all, you can see what Elon Musk did when he bought Twitter, he reduced the workers.

Also know that no one will create coin and distribute it like common water to people, even water is hard to distribute not to talk of money.

Most newbies don't understand that all the cryptocurrency projects developers don't create just to solve a problem but to make huge profits for themselves. Just like you said, the motive that will push Elon Musk to create any cryptocurrency project (Stable or non-stable coin) won't be different from that of Zuckerberg. It will be personal profit motive.

Blawpaw

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Quote from: DashingAgent on November 27, 2022, 02:21:02 AM

I will support Elon Musk if he creates a stablecoin for Twitter

I will support Elon Musk if he creates a stablecoin for Twitter and also pays users for free, If Elon Musk pays $1 million per user per day, it would make the world rich quickly, Moreover, it will also provide liquidity to Bitcoin and other cryptocurrencies. I didn't support Mark Zuckerberg because he wanted to become the richest person in the world by creating more assets as a stablecoin and because Mark Zuckerberg wasn't even interested in Bitcoin, I refused to give approval to the US and European governments either. If Mark Zuckerberg had created a stablecoin, it would hardly have benefited users.

IMO, I would not support any coin that would be created by Musk. And if by any chance he would create a coin, if it was a stablecoin, it would mean that it would be a token working on top of the ethereum chain and anything that is built over there doesn't have my support. In case Musk decides to use cryptos as a form of payment for Twitter, he should add Bitcoin. Not some shitty token or altcoin. If he added Bitcoin to Twitter it would be much better for the crypto market than him creating a one more centralized shitty token...

Inspiron14

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I support more if Elon Musk makes Twitter crypto currency because it is much better for investment than stable coins,
because stable coins are enough USDT and BUSD which have a high market cap and have very good credibility too,
I'm sure many people want what I also want, namely Tweet Coin maybe or Twitter coin? if this happens then other social media coins will also get more Hype.

Sayeds56

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Quote from: DashingAgent on November 27, 2022, 02:21:02 AM

I will support Elon Musk if he creates a stablecoin for Twitter

I will support Elon Musk if he creates a stablecoin for Twitter and also pays users for free, If Elon Musk pays $1 million per user per day, it would make the world rich quickly, Moreover, it will also provide liquidity to Bitcoin and other cryptocurrencies. I didn't support Mark Zuckerberg because he wanted to become the richest person in the world by creating more assets as a stablecoin and because Mark Zuckerberg wasn't even interested in Bitcoin, I refused to give approval to the US and European governments either. If Mark Zuckerberg had created a stablecoin, it would hardly have benefited users.

Elon Musk is certainly a very successful entrepreneur and has been leading/involved in many high profile ventures including Tesla & SpaceX . It will be very interesting to see a stable crypto currency being used on social media platform, like twitter. The success of stable coin depends on market demand and how well it maintains its value overtime through backing of sufficient reserves of assets , which Elon Musk is certainly capable to do, keeping in view his track record of launching successful projects in many leading industries.

tygeade

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Quote from: Argoo on January 05, 2023, 04:54:32 AM

This is an idea that will never come true. First, Elon Musk is unlikely to want to create a stablecoin for Twitter as well. It won't be of much practical value. But then Elon Musk will have a lot of problems. Zuckerberg failed with his Libra/Diem stablecoin precisely because he wanted to connect a pervasive social network and finance. The states saw in this the concentration in private hands of significant confidential information about a decent part of the citizens of the planet. And this is a huge influence and power. Therefore, the states used their leverage to prevent this from happening. The same will happen with Elon Musk. He must understand this.

This thought experiment is not for questioning "if" Elon will do something like this or not. This is more about assuming he did it, and then starts afterwards and the question is would you support it.

I think it's not going to be something I can trust, dude is a weirdo and I do not trust people who act like that, it's better to be investing into something where I can see the owner as predictable, like Jeff Bezos is an asshole but at least he is predictable, he will do whatever he can to make a profit. That's why it's going to be not so easy to trust Elon, because he is unpredictable, and I do not want my money to turn into dust one day because he said some weird stuff.

Argoo

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Quote from: DashingAgent on November 27, 2022, 02:21:02 AM

I will support Elon Musk if he creates a stablecoin for Twitter

I will support Elon Musk if he creates a stablecoin for Twitter and also pays users for free, If Elon Musk pays $1 million per user per day, it would make the world rich quickly, Moreover, it will also provide liquidity to Bitcoin and other cryptocurrencies. I didn't support Mark Zuckerberg because he wanted to become the richest person in the world by creating more assets as a stablecoin and because Mark Zuckerberg wasn't even interested in Bitcoin, I refused to give approval to the US and European governments either. If Mark Zuckerberg had created a stablecoin, it would hardly have benefited users.

This is an idea that will never come true. First, Elon Musk is unlikely to want to create a stablecoin for Twitter as well. It won't be of much practical value. But then Elon Musk will have a lot of problems. Zuckerberg failed with his Libra/Diem stablecoin precisely because he wanted to connect a pervasive social network and finance. The states saw in this the concentration in private hands of significant confidential information about a decent part of the citizens of the planet. And this is a huge influence and power. Therefore, the states used their leverage to prevent this from happening. The same will happen with Elon Musk. He must understand this.

bakasabo

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The people in this topic, who say that they will support Elon Musks created stablecoin for Twitter, because they believe him are actually lying, because they will only speculate with that stable. Even though it is called stable, its price can be different from 1 (like BUSD with $0.999170 right now for example). People will try to get maximum profit from it on its early stage, and later forget about it. As Elon Musk by itself is a controversial person, lets say "not stable" within this topic, I believe it is hard to expect great stability of his potential stablecoin. That is why I will pass it; not gonna support.

tuertezii

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Quote from: Semar Mesem on December 06, 2022, 06:06:17 AM

If elon musk creates stable coins, of course this is a good thing to make cryptocurrencies even more popular, the presence of stable coins is the right solution when people want to park assets, moreover, elon musk has big ambitions to make cryptocurrencies shine even more, we hope he uses the new network a stronger and cheaper one like Fantom or MATIC.

I think the current public chain is completely sufficient. I think he is so rich, he should really do things that really develop the encryption industry, instead of putting interests first.

Thuy Anh

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Elon Musk probably wouldn't do that. He's a businessman, and everything he does requires thought. A lot of other people will be watching Elon Musk all the time, trying to find his flaws. If Elon Musk would really create a stablecoin for Twitter, then Twitter would lose a lot of people. He won't do that.

alexandr1115

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I think if he wants to make a stablecoin, then he needs to take into account how strong the competition is among these types of coins! I think he probably wants to tie it to Twitter somehow? Is this probably meant as a native currency on the Twitter platform!

Miaallen

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I just wonder how you concluded that $1 million can be paid to users per day. Only the content creators have a chance of getting paid base on traffic. And on the other hand, both Mark and Musk are business men after making and expanding their profits.

KaliLinux

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Quote from: koang on December 07, 2022, 11:00:47 AM

Quote from: Semar Mesem on December 06, 2022, 06:06:17 AM

If elon musk creates stable coins, of course this is a good thing to make cryptocurrencies even more popular, the presence of stable coins is the right solution when people want to park assets, moreover, elon musk has big ambitions to make cryptocurrencies shine even more, we hope he uses the new network a stronger and cheaper one like Fantom or MATIC.

I know this will be interesting, but Stablecoin? I do not think so. My guess is Doge.

I hope Twitter becomes a news platform for crypto and opens up the floodgates of ideas that challenge the mainstream narrative.
And thanks to Elon for cleaning things up on Twitter.
Amazing what a bit of freedom can inspire isn’t it...

Right, that was what most people thought it would be, Dogecoin. At least we know how much Elon Musk promoted Dogecoin however, I think there might be a different coin cos just today I saw this video on Youtube of The Moon and Crypto-Kid talking about how someone had posted a thread they discovered on GitHub of a likely tweeter coin and also relating that to Elon's tweet some weeks ago about payments on tweeter, So it is really likely to see a tweeter coin some time down the line whether it be Dogecoin or a different tweeter coin but I don't think it will be a stablecoin.

koang

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Quote from: Semar Mesem on December 06, 2022, 06:06:17 AM

If elon musk creates stable coins, of course this is a good thing to make cryptocurrencies even more popular, the presence of stable coins is the right solution when people want to park assets, moreover, elon musk has big ambitions to make cryptocurrencies shine even more, we hope he uses the new network a stronger and cheaper one like Fantom or MATIC.

I know this will be interesting, but Stablecoin? I do not think so. My guess is Doge.

I hope Twitter becomes a news platform for crypto and opens up the floodgates of ideas that challenge the mainstream narrative.
And thanks to Elon for cleaning things up on Twitter.
Amazing what a bit of freedom can inspire isn’t it...

Punakawan

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If this plan is realized, the influence of cryptocurrencies will get stronger, I hope that after making a coin stable, Elon Musk will immediately make his own cryptocurrencies, Twitter is a strong force for promotion and I'm sure I can enter the top 3 ranking in a short time.

Terezi

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Quote from: DashingAgent on November 27, 2022, 02:21:02 AM

I will support Elon Musk if he creates a stablecoin for Twitter

I will support Elon Musk if he creates a stablecoin for Twitter and also pays users for free, If Elon Musk pays $1 million per user per day, it would make the world rich quickly, Moreover, it will also provide liquidity to Bitcoin and other cryptocurrencies. I didn't support Mark Zuckerberg because he wanted to become the richest person in the world by creating more assets as a stablecoin and because Mark Zuckerberg wasn't even interested in Bitcoin, I refused to give approval to the US and European governments either. If Mark Zuckerberg had created a stablecoin, it would hardly have benefited users.

I don't think he will create his own stablecoin. It doesn't make sense to create a stable coin for Twitter, he won't pay users. He's just going to create more opportunities to get as much money as possible as fast as possible, find other potential assets and make investments to increase his wealth.

isaac_clarke22

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Quote from: tygeade on December 06, 2022, 01:49:23 PM

~

Looking up to his recent tweets, he kinda shuts up about crypto for a while though I am sure that once the "Twitter change" topic has died off, he would continue to do so. If he is going to make his own "coin", it would surely do terrible as you know that people really just read the headlines these days and they do not care a single bit on why he just fired a lot of people from Twitter. It is going to be filled with FUD for sure in the first day. He would indeed stay away, well at least for now. Maybe in the next decade, he will depending on how it turns out on his "post-Twitter" topic.

tygeade

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Quote from: len01 on December 06, 2022, 05:34:43 AM

Quote from: tuertezii on December 06, 2022, 02:36:36 AM

I very much hope that Elon may be able to create a decentralized stable currency, allowing users to completely migrate to decentralization, because Elon's influence is enough to be a wedding dress for the new stable currency.

No, Elon musk is not interested in making his own crypto. if indeed he has aspirations to make his own coin, he doesn't have to bother making tweets about other coins that don't belong to him (Dogecoin)

I wish that he did. That way he would stop talking about bitcoin and doge, and he would start talking about his own thing and that would be a lot better for all of us. His own coin could go up a lot, who cares, but at least the market would be left alone and it would not do too bad.

Even in a case, where his coin does terrible is great, because it means people will lose so much money that they would stop caring about what he says, because they would know that even his own coin failed so why would they listen to him on anything else. But unfortunately it looks like he will not have his own coin at all, he would probably stay away from that as much as he can.

Semar Mesem

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If elon musk creates stable coins, of course this is a good thing to make cryptocurrencies even more popular, the presence of stable coins is the right solution when people want to park assets, moreover, elon musk has big ambitions to make cryptocurrencies shine even more, we hope he uses the new network a stronger and cheaper one like Fantom or MATIC.

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