I will support Elon Musk if he creates a stablecoin for Twitter - page 2.

len01

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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)

do not expect more

Quote from: Wong Goblog on December 06, 2022, 02:58:05 AM

Many people say that under the goal of Elon Musk buying Twitter because he wants to pump cryptocurrencies, as we know that he is very supportive of doge so that it makes Doge can rise again after almost death, if the Doge price can reach $ 1 then he gets a big profit.

don't assume that Elon musk bought twitter to pump the crypto he loves today, that is a big mistake.
Elon musk's real goal of buying twitter was to support free speech and lift a permanent ban on Donald Trump.
And what needs to be remembered, Elon Musk's initial goal of buying Twitter was not to make personal money but to have freedom of expression.

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Many people say that under the goal of Elon Musk buying Twitter because he wants to pump cryptocurrencies, as we know that he is very supportive of doge so that it makes Doge can rise again after almost death, if the Doge price can reach $ 1 then he gets a big profit.

tuertezii

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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.

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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 never hope that the mainstream stablecoins that will appear in the future will still tend to be too centralized products. I think the risk of centralized stablecoins is too great, and it is a very big hidden danger for users.

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Quote from: Heulahee on December 05, 2022, 06:37:03 PM

The thinking of both the person, Elon Musk, And Mark Zuckerburg might be the same, in my opinion, they both want money, as I can say that they have got much fame, and now the main importance will be money near them. So, the 8$ account KYC choice was got in vain, as every other person wanted to register on Twitter.

I don't trust Elon Musk as much as I used to. Because he is crazy and sometimes he doesn't understand what he thinks but I used to follow him for several days and I always keep an eye on what he says on Twitter. Now I don't. He is a Big Sartho Plaintiff I think.

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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 and also pays users for free,

Before you support him, are you sure that Elon Musk has the intention to have a stablecoin for Twitter? I doubt if Elon Musk wants to experience the same thing as Facebook. And I doubt if Elon Musk wants to pay all Twitter users for free. There is no significant advantage for Elon Musk to pay the users, so no reason for him to do this.

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

If Elon Musk pays $1 million per user per day, it would make the world rich quickly,

This sounds nonsense. Huh

$1 million every day for each Twitter user will lead him to bankruptcy.
I can't imagine how much he spends if he regularly pays each user for years.

Psynthax

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sounds like and idea that elon himself would think of it as silly, there are so many such coins already I don't think elon gonna create that coin just because he has owned twitter recently, I think this idea has low relevancy in regards of his effort in increasing the revenue from twitter, even right now elon more focused in generating more revenue since it seems the revenue from ads in twitter has been declining, instead elon is pushing for verified membership in his platform so that it could somehow increase the revenue, surely creating coin seems like foolish idea for elon musk.

carlfebz2

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Quote from: Silberman on December 05, 2022, 04:52:37 PM

Quote from: Maestro75 on December 04, 2022, 03:46:29 PM

You will support him in what sense? Elon is rich and will likely not need the support of anyone to achieve anything he wants to. If his guts tells him to do something, he goes ahead with it and that is why his actions are often looking abnormal. You remember when he bought Twitter and how people reacted at the huge amount. And now he is pruning it and people are complaining. Does he listen to them, no. We know Elon supports Dogecoin and so he can ask for Dogecoin as payment for Twitter and not to create any stable coin. He knows that.

We will have to see how this story of Elon and Twitter ends, on most of his other industries Elon does not have to listen to the common person as his business is related almost exclusively to technology, but Twitter is a social network which depends almost exclusively on the common person, if he makes them mad and they stop using his platform in mass then it does not matter what chances he makes to Twitter as it will eventually collapse.

Pretty sure that he's aware of that and as a business man or billionaire then he do knows on how to handle up a social media platform which he would really be focusing on what the community needs and suggest.

If Elon would tend to create his own stablecoin then its up to his own choice and its up to people or users whether they would be using or not.Its true that if people would see something that they dont like

then high probabilities that these fellas would be switching up into other platforms.Whether you do support or not then its up to someones choice on this case.
I dont know on what are the impressions of people if in case this one happens.

Heulahee

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The thinking of both the person, Elon Musk, And Mark Zuckerburg might be the same, in my opinion, they both want money, as I can say that they have got much fame, and now the main importance will be money near them. So, the 8$ account KYC choice was got in vain, as every other person wanted to register on Twitter.

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Quote from: Maestro75 on December 04, 2022, 03:46:29 PM

You will support him in what sense? Elon is rich and will likely not need the support of anyone to achieve anything he wants to. If his guts tells him to do something, he goes ahead with it and that is why his actions are often looking abnormal. You remember when he bought Twitter and how people reacted at the huge amount. And now he is pruning it and people are complaining. Does he listen to them, no. We know Elon supports Dogecoin and so he can ask for Dogecoin as payment for Twitter and not to create any stable coin. He knows that.

We will have to see how this story of Elon and Twitter ends, on most of his other industries Elon does not have to listen to the common person as his business is related almost exclusively to technology, but Twitter is a social network which depends almost exclusively on the common person, if he makes them mad and they stop using his platform in mass then it does not matter what changes he makes to Twitter as it will eventually collapse.

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I dont think that Elon Musk will ever create his own cryptocurrency. I think this is just not his field. The only reason I seem him creating his own crypto asset - being desperate or broke, and rely on his beloved followers to buy it. Everyone understand that if Elon Musk creates an altcoin, it will be for the sake of pump and dump only. No one would buy any Elon Musks altcoin for its functionality, everyone will buy it only to resell it for a higher price. And what is the point of creating another stablecoin, when Musk has US Dollars and USDT for example?

Maestro75

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You will support him in what sense? Elon is rich and will likely not need the support of anyone to achieve anything he wants to. If his guts tells him to do something, he goes ahead with it and that is why his actions are often looking abnormal. You remember when he bought Twitter and how people reacted at the huge amount. And now he is pruning it and people are complaining. Does he listen to them, no. We know Elon supports Dogecoin and so he can ask for Dogecoin as payment for Twitter and not to create any stable coin. He knows that.

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Quote from: koang on December 03, 2022, 05:16:33 PM

Stablecoins? Damn, that's crazy. I need coffee...
Musk revealed he supports Dogecoin and stated that compared to Bitcoin, Dogecoin has higher transaction capabilities.
At this point, I'm almost certain that Twitter issuing a stablecoin couldn't be happening.

Twitter serves nearly 90 billion tweet impressions per day, the first thing Elon needs to do is solve the problem of ticker spam and hate speech.

Even if he releases such a product, it will be another shitcoin, which will have nothing to do with stability. What will this stablecoin be backed by? Hopefully not dogecoin. If so, we are in for another stablecoin crash, which happened with the UST stablecoin. But if he decides it will be a classic stablecoin, a competitor of projects like USDT or USDC, then what is the point of buying this new stablecoin, which has the same properties as already proven projects from Tether and Circle?

uneng

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Elon Musk isn't a charity institution to give free money to Twitter's users. What you are asking isn't a stablecoin, but a welfare program which takes the wealth from Musk to be shared with the world, what is impossible to be executed for real, because even him doesn't have enough money to give 1$ million to every person alive.
Considering 7 billion of people in the world, Musk would need a patrimony of at least 7$ quadrillion to gift everyone accordingly to OP's proposal.

darewaller

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Quote from: Kavelj22 on December 03, 2022, 02:24:07 AM

After the completion of the Twitter deal and Elon Musk's official acquisition of it, it became clear to us that he had involved himself in buying a platform whose value may not be worth half the amount he paid to buy it. The platform has been making losses since 2009, I think. And since Elon Musk is a businessman, one of his priorities is to increase the platform's revenue in every possible way.

At first, he laid off half of the employees, then lifted the ban on a percentage of the suspended accounts, and then presented a project to sell the verified badge for $8 per month. All of them, of course, were not to achieve the expected revenues.
Perhaps launching a platform-specific currency is in the same direction, but it would be a not very successful move either.

That has been clear from the start, and that is why he keeps trying to promote "look how great it become after I bought it!!" since he got the company. I mean have you ever seen any person trying to show how good of a job they did, when they actually did a good job? If you did it, you shut and up and work and people will see how good it is, if you keep on promoting how good things are, that means it's mostly a lie.

And even if it is actually doing good like he said, it's not making a profit like it should, and the price was more than double what it really worths so it's not going to be worth what he paid for many many years, even if everything goes well.

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I don't get why a stablecoin and not a crypto fork is based on Doge or Bitcoin. We know how Elon loves to speculate and move markets, and that isn't possible with a stablecoin. I think there is a bigger chance for us to see a fork from Doge than a stablecoin.

And stable coins are smart contracts, I think Elon would go for his own blockchain instead of making a simple smart contract for his coin.

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If Twitter will have a stablecoin, then it will not, in fact, multiply Elon Musk wealth, since the basis of the stablecoin itself will not allow him to manipulate the price, which should always be stable. But given the popularity of Elon Musk and Twitter, can pump up and dump any altcoin, getting a profit of hundreds of percent.

WalkerIVIV

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it seems even elon favours his tesla more than twitter, seems like he's now isn't as focused as he is was back then when he has acquired twitter for the first time, instead the twitter acquisition seems like just bringing so much mess to him, therefore I doubt he's gonna even make that kind of coin for his platform, creating such coin requires tremendous amount of reserves and capitals, surely elon would think twice spending more money into the platforms that just bring him problems, I doubt he even care in regard of twitter anymore.

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Quote from: koang on December 03, 2022, 05:16:33 PM

Stablecoins? Damn, that's crazy. I need coffee...
Musk revealed he supports Dogecoin and stated that compared to Bitcoin, Dogecoin has higher transaction capabilities.
At this point, I'm almost certain that Twitter issuing a stablecoin couldn't be happening.

They can have their own token but not a stablecoin, Elon still knows what to do and know how to create a good hype so for sure he will stick with DOGE as twitter progress their adoption to cryptocurrency. Right now, there is no rumor about this as Twitter still experiencing a huge backlog and for sure Elon is working on that closely. If ever Elon will create his own coin, I will only adopt if I see a good technology behind it and not a pure hype.

coinerer

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A stablecoin cannot run as backed by a social media . Twitter is nothing cryptocurrency related. Since Elon musk is a crypto investor and he bought Twitter and started charging for twitter verified badges. So Elon Musk could create a utility token for Twitter and accept that token for Twitter verified badge as its fee. It can be done and it is reasonable. However, stablecoin cannot be backed by Twitter

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