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Topic: Would this Lead to the Mass Adoption of Bitcoin? (Read 498 times)

hero member
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November 07, 2022, 02:26:21 AM
#60
Twitter verification payable with bitcoin? Yeah, no... Provided that a few hundred thousands are going to pay for such thing, and a small fraction of those would prefer paying with bitcoin over fiat, mass adoption is definitely not going to come from Twitter.

Mass adoption won't come from an optional blue tick. It'll come from mandatory usage of susceptible to censorship and anti-private CBDC.

I think he gets this idea from our community where you need to pay a small number of satoshis to create your account if the IP you are using has some issue. It's best to have that kind of feature on Twitter if they can assure us they won't gonna just block our account when we have pure crypto-related followers and tweets. Because they are brutal when it comes to blocking your account even though you are a legit user. I had ten thousand followers on my Twitter account but it is gone now since they made purged termination about 3 years ago and now whenever I create one and start to follow crypto-related pages, it's just a matter of days before the day blocks me again.
jr. member
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Bitcoin is already in mass adoption but we want more of it because it's not yet the limit of it. When it's about Twitter and Elon, people are shouting for putting money where his mouth is and that's all about acceptance of Dogecoin.

That reply of Jack is a good one, there should be an exposure for lightning network so as bitcoin and that will certainly give another option for the payments.

If you haven't seen it, there's a followup:



It looks like Musk agreed to this deal.

IMO it won't be a big thing for the price but it's going to make more people aware of bitcoin. You bitcoiners might not believe it but there's still many people out there who use the Internet but know nothing about it.
Nice, this actually a good news if it's allowed. We just want to see the exposure of it and if it didn't click, hopefully Elon won't remove it and let it stay there for bitcoin's visibility to his users.
This is a good start, Elon is an amazing person who has a keen eye for the future world, Bitcoin is a very important part of the human process, this Twitter change I think it's giving Elon wings .
hero member
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Who said you that government acceptance is needed for mass adoption ?
I agree that government acceptance "can" boost the mass adoption of bitcoin but it is not the "only way" for mass adoption.
Services like what OP is talking about "can" act as a catalyst to start mass adoption of bitcoin.
If more of such services start using bitcoin as a form of payment then bitcoin will start being widely adopted.

It is important to note that if all businesses and companies accept and use bitcoin, this will also trigger mass adoption of bitcoin, but that will not happen without the approval of the government. Government is arguably the last and most important barrier to mass adoption of bitcoin. You need to remember that this world controlled by the government is not a free world, companies are operated under the permission and control of the government. If the US government bans bitcoin, Twitter wants to adopt bitcoin is impossible.
That is one possibility but it is not the only one, governments are in fact in control of the economy and they can do as they wish thanks to the control they have over the laws and fiat money.

However people can also decide to follow the civil disobedience route, so even if governments made bitcoin illegal people could still decide to use it, now we are seeing this already in some countries but in order to see this at a global scale we will need a massive crisis which affected the whole world and brought the confidence on centralized governments and fiat currencies to a new low.

Kinda true because the governments are controlling the world right now and it would need a massive financial crisis for crypto be adopted widely throughout the globe.
It's not impossible but it is indeed tough to happen. On the other hand, if governments do allow crypto companies to operate then it would be a lot easier for a mass adoption to take place.
In fact, the governments can take advantage of it upto certain extent and reap the benefits from crypto regulation.
Crypto adoption is inevitable and only time will tell us which direction it goes.
newbie
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Isn't there already mass adoption of Bitcoin?

Every payment company like Square https://squareup.com/us/en, Poof https://poof.io/, Coinbase Commerce, Paypal https://paypal.com/, Stripe https://stripe.com/, Venmo, Cash App along with all their business use Bitcoin.

Other companies like Google Cloud, AWS, and others are accepting bitcoin soon too.
hero member
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However people can also decide to follow the civil disobedience route, so even if governments made bitcoin illegal people could still decide to use it, now we are seeing this already in some countries but in order to see this at a global scale
I don't understand, how can we use bitcoin if it is banned by the government? as I know you can use bitcoin if it is banned by the government but you will use it stealthily and always fear because if found out you will definitely be fined. But for a business, how can they break the law, it's like destroying themselves.


we will need a massive crisis which affected the whole world and brought the confidence on centralized governments and fiat currencies to a new low.
The monetary system can still collapse, in the history of money has happened a few times but will be replaced by another monetary system and it is the government that regulates, not the people. And don't expect governments to fall because that will also be the end of our society, decentralization is good but it shouldn't go to the point of no leadership.
hero member
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Who said you that government acceptance is needed for mass adoption ?
I agree that government acceptance "can" boost the mass adoption of bitcoin but it is not the "only way" for mass adoption.
Services like what OP is talking about "can" act as a catalyst to start mass adoption of bitcoin.
If more of such services start using bitcoin as a form of payment then bitcoin will start being widely adopted.

It is important to note that if all businesses and companies accept and use bitcoin, this will also trigger mass adoption of bitcoin, but that will not happen without the approval of the government. Government is arguably the last and most important barrier to mass adoption of bitcoin. You need to remember that this world controlled by the government is not a free world, companies are operated under the permission and control of the government. If the US government bans bitcoin, Twitter wants to adopt bitcoin is impossible.
That is one possibility but it is not the only one, governments are in fact in control of the economy and they can do as they wish thanks to the control they have over the laws and fiat money.

However people can also decide to follow the civil disobedience route, so even if governments made bitcoin illegal people could still decide to use it, now we are seeing this already in some countries but in order to see this at a global scale we will need a massive crisis which affected the whole world and brought the confidence on centralized governments and fiat currencies to a new low.
legendary
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Seems like everyone is hyping Elon with twitter about the development of bitcoin, remember bitcoin has been growing for 14 years without any catalyst from Elon or Twitter, and now it's all the same. Yes, it would be great if Elon integrated bitcoin into twitter but that same as other companies accept bitcoin payment, it was a win for bitcoin as well as their company but it was not the deciding factor for bitcoin mass adoption.
Bitcoin will still get mass adoption without Twitter and Elon, just more time for bitcoin.
copper member
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I think your topic has two separate subjects, which are their verification and the BTC payment. There are a lot of people who aren't involved in the Twitterverse, which could lessen its attraction of it. It would still be about Twitter and not crypto in general. I think a lot of people know what crypto is, and they would not care much about the MOP of the platform. What we can count on are the businesses that follow Twitter. Maybe they could be more impactful instead of just relying on Twitter.
full member
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Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.

Who said you that government acceptance is needed for mass adoption ?
I agree that government acceptance "can" boost the mass adoption of bitcoin but it is not the "only way" for mass adoption.
Services like what OP is talking about "can" act as a catalyst to start mass adoption of bitcoin.
If more of such services start using bitcoin as a form of payment then bitcoin will start being widely adopted.

It is important to note that if all businesses and companies accept and use bitcoin, this will also trigger mass adoption of bitcoin, but that will not happen without the approval of the government. Government is arguably the last and most important barrier to mass adoption of bitcoin. You need to remember that this world controlled by the government is not a free world, companies are operated under the permission and control of the government. If the US government bans bitcoin, Twitter wants to adopt bitcoin is impossible.
legendary
Activity: 2828
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I'd agree with most that there's no way Twitter accepting Bitcoin payments would itself lead to mass adoption, but I wouldn't undermine it's effect either. Recall that Doge surged 35% when the Twitter deal with Musk finalized: https://www.cnbc.com/2022/10/27/dogecoin-surges-40percent-as-elon-musks-twitter-deal-approaches-close.html

I'm aware that Doge is nothing more than a joke of a cryptocurrency that took off -- my point is that there'd be a positive effect if Twitter were to begin accepting Bitcoin that's larger than people might realize. I wouldn't expect a wave of adoption or some monumental shift in the price, but at the least a move in the right direction.
legendary
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I don't think this would lead to the mass adoption, maybe twitter will contribute for that goal in the future, but the fact that having the Blue for $8 will not make a big difference for bitcoin.

If Elon decide to incorporate bitcoin to twitter and let the user send and receive payments with the platform then that would lead to the mass adoption without any doubt, but right now i don't feel twitter is that close to bitcoin yet.
hero member
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Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?
not really though, it should be accepted by the govt so we can call it mass adoption so if not it is just a hype, I don't think that Elon Musk has the capability to influence people just like last last year i think, I mean those days that he hype Doge coin i didn't see it will happen again, I just hope that Twitter will still be our safe haven for crypto people, and even though govt still not accept it, I think it is better.
legendary
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I do not really think that Elon's $8 per month would really put bitcoin into a whole new level, and neither would ads. It’s not going to really change anything in the crypto world.

It’s not "public awareness" that causes bitcoin to be not adopted, there are tens of, maybe hundreds of millions of people who heard about bitcoin and never got into it. That means it’s an appeal issue, we are so volatile that there are too many people who do not want to get in because they see it as too risky and they are not wrong, if you are not comfortable with this volatility then you should not get in, but twitter will not change how much risk they are willing to take neither.
legendary
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Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.

Who said you that government acceptance is needed for mass adoption ?
I agree that government acceptance "can" boost the mass adoption of bitcoin but it is not the "only way" for mass adoption.
Services like what OP is talking about "can" act as a catalyst to start mass adoption of bitcoin.
If more of such services start using bitcoin as a form of payment then bitcoin will start being widely adopted.
A catalyst indeed but government acceptance would be a great factor 'coz their acceptance means 'permit' of its usage. People can open businesses accepting this technology as a mode of payment. Many franchise have done it but why do you think on the long run they have stopped? One factor is volatility wherein businesses cannot afford losing their profit during bearish market becuase they need to make use of their sales for their work force and general improvements while having trouble with their sales in the first place. Another is transaction limits. To countries wherein it is not accepted by governments, blockchain transaction or peer to peer transactions would only work to pro-crypto technology which has a small population in those countries as regarded. Therefore, they are somewhat being forced to just use fiat based online payments which slows crypto adaption.
legendary
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For the mass adoption, something constant is needed, and not what is arranged by Elon.

You need a person who understands what Bitcoin is, and from everything he has publicly said on the subject, it is more than obvious that he does not understand what he is talking about. In addition, it is mostly ignored that this man does business with state agencies, and that he receives billions of dollars in support from the government for his business. Such a man is up to his neck in a centralized system, and one should not expect him to be against that system.

In the meantime, some users have decided to show what they think about the new boss...

The firm Bot Sentinel, which tracks inauthentic behavior on Twitter by analyzing more than 3.1 million accounts and their activity daily, believes that around 877,000 accounts were deactivated and a further 497,000 were suspended between October 27 and November 1. That’s more than double the usual number.
hero member
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Yes definitely there would be mass adoption if only that is the option left to make payment because I know too well most of the country that has restrictions on bitcoin would have no options than to adopt to the methods meaning, twitter is one of the most recognized social media today used almost all countries which would give a lifting hand to bitcoin growth and adoption generally.

But my question is does this checkmark applicable to all accounts or only those accounts that has serious engagement?
And does this checkmark limited to influencers or any newly created account could pay and requested for the checkmark and what happened if they don't meet up to $8 per month as the original tweet said. Would the checkmark be removed for not meeting up the demands or would your account be restricted less until the users being paid?
hero member
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Nothing lasts forever
Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.

Who said you that government acceptance is needed for mass adoption ?
I agree that government acceptance "can" boost the mass adoption of bitcoin but it is not the "only way" for mass adoption.
Services like what OP is talking about "can" act as a catalyst to start mass adoption of bitcoin.
If more of such services start using bitcoin as a form of payment then bitcoin will start being widely adopted.
hero member
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I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?

I don't think this is going to lead to a mass adaption of Bitcoins. Someone who has never used crypto currencies in his life is not going to invest into them only to pay $8. This would be only for people who already own bitcoins. When it comes to Elon Musk and crypto currencies I am cautious and not trusting good news anymore. There were too many events in the past where he used his twitter fame to influence crypto prices. For his Tesla company he doesn't want to accept bitcoin in mass anymore, so why now with twitter? Maybe he will rather boost another crypto currency again. Another question is also how many people are willing to pay $8 USD for the blue check mark? There is already an public outcry against it, and the argument that Twitter needs to do it against the Bots and Trolls seems not so valid to me. If someone really enjoys trolling other people online, he is happily going to pay $8 for it, if it makes him seem more legit.  I am not going to bet on Elon Musk recovering the Bitcoin market through Twitter this year. And even if he would do so, there is no guarantee that it's going to stay like that. He could change his mind again and send Bitcoin crashing again like in the past. I wish the crypto market would be a bit more independent from Elon Musk.
legendary
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I would demand $10, not $8, as Elon did for a blue checkmark. Smiley Well, what, because of $2, no one will become poorer, but it will make the figure more beautiful. Smiley

Well, this is just a statement by one twitter user, which is not related to making decisions on this platform. Moreover, whether Elon saw this tweet in general, also in question. I don't consider these flirting a Musk with cryptocurrencies with something good. Now he recognizes cryptocurrencies, then he rejects it, that he creates doubts in the eyes of people, because the Musk is media face and attracts attention to himself. Everyone carefully listens to his opinion and therefore it has some influence on the public consciousness.For the mass adoption, something constant is needed, and not what is arranged by Elon.
legendary
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It looks like Musk agreed to this deal.
Nice, this actually a good news if it's allowed.

If you bother to dig deep into the tweet, Strike partnership are happening years ago.

https://www.cnbc.com/video/2021/09/23/twitter-partners-with-strike-to-enable-bitcoin-tips.html
https://duckduckgo.com/?t=ffab&q=twitter+bitcoin+strike&ia=web



A mass bitcoin adoption chances caused by merely a popular social media platform integrating it as an accepted payment system seems an exaggeration. Mass adoption is not likely to happen simply because of that. It is a complex process, would be such naivete if the mass adoption problem are simply fixed because of Twitter.

Assuming it happens, there indeed should be an effect. But as in result, will it make a big growth of usage, is very unlikely.
legendary
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Twitter verification payable with bitcoin? Yeah, no... Provided that a few hundred thousands are going to pay for such thing, and a small fraction of those would prefer paying with bitcoin over fiat, mass adoption is definitely not going to come from Twitter.

Mass adoption won't come from an optional blue tick. It'll come from mandatory usage of susceptible to censorship and anti-private CBDC.
legendary
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Yes it could also boost other crypto and not just btc adoption. Since Elon is a fellow crypto enthusiasts. He possibly hold massive of it secretly and dont disclose morr information about it.

I think 8$ a month for those verified is not a burden but rest assured that all will accept that. Maybe some verified are use only for his own personal and not to monetize on contents.
One of the greatest impediment to bitcoin adoption is lack of publicity. And Twitter has 396.5 Million user globally. This means that if Elon Musk approves the use of bitcoin as a means of payment, close to 400 million people would see the advert on twitter. This numbers might be insignificant compared to the users of fiat but it is a plus to the bitcoin community. Yes, not all of the users would choose the bitcoin option, but it would also attract new users. Like it or not Elon Musk has a lot of influence on the world''s economy. His influence even succeeds that of some nations, his actions has so much impact on any commodity.  

If talking about ads, I don't think it is necessary, the keywords bitcoin or cryptocurrencies are very popular nowadays, you can see them anywhere as long as you have a smartphone and an internet connection. I live in a rural area where many old people live, even though they haven't invested in bitcoin, they all know about it through the internet.

In this case I think he will choose doge over bitcoin because he is holding a lot of doge and that is in his favor, we can see what he does is for his benefit and not for the community, so I don't believe he will choose bitcoin.
legendary
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Initially, Musk was pushing for $20 per month for the blue checkmark, and also, he keeps making controversial statements, as if I remember correctly, the blue checkmark wasn't for everyone, but it was free, while now it will cost money. So much for making it more accessible.
I checked Musk's tweets and replies, and it seems he didn't respond to the Lightning payments thing. But then it seems like that guy who suggested it said that his company partnered with Twitter? I'm a bit surprised if Musk is actually going through with this, given how he's convinced that Bitcoin is bad for the environment. That being said, a payment option being available doesn't translate into a payment option being actively used, unfortunately. So even if it gets accepted, it will just be a piece of good pro-Bitcoin news but not much in terms of adoption.
hero member
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I still have the feeling that Elon Musk is trolling everyone with this "pay for a blue checkmark" idea. Maybe he will refuse this idea after a while.
Having to pay for a simple blue checkmark would turn many users away from the platform. Paying 8 dollars in order to prove that you are the legitimate owner of a Twitter account seems like good idea, that would eventually increase Twitter's revenue, but on the other hand, Twitter doesn't possess a monopoly over the social media business. The competition would still offer completely free option to verify your social media account. I can't imagine the various ways to abuse this paid feature.
Jack Dorsey would have adopted LN payments on Twitter, but I'm not sure about Elon Musk.
legendary
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What does it matter if Mr. Mars will accept Bitcoin, shitcoins A or B, or maybe pumpkins for what he wants with his new toy, and he wants to earn more than he invested. After all, that man still considers Bitcoin transactions dangerous for the environment, because he promised that his T company will accept Bitcoin again when it becomes greener.

And now the OP asks again if Mr. Mars and his new toy will lead to some kind of mass adaptation of Bitcoin - well of course that has nothing to do with common sense - will people ever realize that this man has done more damage to Bitcoin than a lot of other people put together over the years?
legendary
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I don't think so. I would personally never pay a dime to have the option to use a social media profile the way I want to. They benefit from their users more than the users earn from them. It's free which means you are the customer. If he made such a decision, it could backfire on him and people could start leaving Twitter in protest for not wanting to further fill his greedy pockets.

And besides, Twitter is not exclusive for crypto enthusiasts. You can't introduce bitcoin or crypto as the only payment method if in the future it becomes mandatory to pay for the verified badge. I am sure there are more of those that have nothing and don't want anything to do with crypto than those that do. And that bigger group will need traditional payment methods.

So it might be news-worthy, but it's not going to be something that will cause mass adoption or have a significant impact on the price.   
legendary
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This means that if Elon Musk approves the use of bitcoin as a means of payment, close to 400 million people would see the advert on twitter.
There has always been adverts about about bitcoins, different exchanges all enticing you to come buy bitcoins from them, it hasn't still convinced people, how would an advert on twitter change that. I doubt that Elon will even choose bitcoins for payment, when we all know how much he has been promoting doge, this would be a big chance to push it up. Whatever his choice, bitcoins or doge, it will have an effect on cryptocurrency.

A lot of developments will promote the adoption of bitcoins, not just one thing like this. Thinking about it, I think a singular development that will have the most effect is if our governments begin to endorse bitcoins.
legendary
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I was under the impression that Elon Musk is more willing to accept his Doge than Bitcoin though as payment for that $8/month for those blue badge Twitter account.

Anyhow, even if Twitter does accept Bitcoin, I don't think it will lead to mass adoption. We are already showing growth already, and it will take accumulation of factors to say that we are being adopted by everyone. This could be one of the many factors though, but for me it should come from government to make Bitcoin legal tender just like what El Salvador did.
hero member
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Yes it could also boost other crypto and not just btc adoption. Since Elon is a fellow crypto enthusiasts. He possibly hold massive of it secretly and dont disclose morr information about it.

I think 8$ a month for those verified is not a burden but rest assured that all will accept that. Maybe some verified are use only for his own personal and not to monetize on contents.
One of the greatest impediment to bitcoin adoption is lack of publicity. And Twitter has 396.5 Million user globally. This means that if Elon Musk approves the use of bitcoin as a means of payment, close to 400 million people would see the advert on twitter. This numbers might be insignificant compared to the users of fiat but it is a plus to the bitcoin community. Yes, not all of the users would choose the bitcoin option, but it would also attract new users. Like it or not Elon Musk has a lot of influence on the world''s economy. His influence even succeeds that of some nations, his actions has so much impact on any commodity.   
mk4
legendary
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Even if bitcoin gets implemented for the checkmark's payment, it's highly likely to only be used by the huge minority and saying that it will be "mass adoption" would be pushing it; people in general would simply just use the typical PayPal/creditcard/debitcard payment.

In the end though, baby steps. Not because it's not a major adoption event doesn't necessarily mean it's not a good thing.
hero member
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At last, the child has finally behaved himself, he thought the twitter deal was child's play. Now that he has control over it, I don't think anything positive or negative would happen to Bitcoin, at least when he did not tweet anything regarding it. What we should know is that Twitter and Bitcoin are not the same things and his stake in Bitcoin will not change this fact unless he decided to add another significant amount of BTC to his portfolio.
legendary
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Elon Musk thinks about himself and his own pocket and anything that he does is in his own benefit that includes buying Twitter simply because he wanted to gain a lot of power over public opinion which is significantly affected by social media.
If bitcoin is used on this platform it will only be if he thinks he can make some profit from it like last time he used it to pump his stock and pump and dump some altcoins on the side.
sr. member
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But why should people pay $8 monthly for the blue tick? That's complete trash and one of the quickest scheme to steal the masses money. I don't if everyone is okay with the payment but I am not comfortable seeing that tweet.
But using Bitcoin as a means of payment on Twitter no issues will be great. People know about Bitcoin, what's stopping the mass adoption are the government they have to consider alot of things before making implement 
legendary
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Elon Musk is not the type of person that goes with the mainstream, he always find ways to be unique. I think he will use some weird token that he invested in prior to the decision being made final to use it. (Like he did with Shiba & Doge)

He might even pay developers to create his own token and then we will see millions of people buying MuskCoins or paying with Elons to go to Mars.  Roll Eyes
legendary
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Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?
Yes it could also boost other crypto and not just btc adoption. Since Elon is a fellow crypto enthusiasts. He possibly hold massive of it secretly and dont disclose morr information about it.

I think 8$ a month for those verified is not a burden but rest assured that all will accept that. Maybe some verified are use only for his own personal and not to monetize on contents.
hero member
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People have used to Twitter, maybe for that reason people will accept and pay the $8 per month. For people living in USA or grown countries it looks simple. For a person from third world country it is a day's earning. Elon Musk have come up with the suggestion, and he needs to rethink about it.

As the user suggested for the acceptance of bitcoin as payment for the premium. This could make some bullish movement in the market. It is just a corporate firm and it doesn't help in mass adoption. When a grown country announce of bitcoin adoption, such news will create good impact over the price.
hero member
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I don't know why we like to associated bitcoin to Elon Musk, looking at that comment I feel that they are forced and trying to impress bitcoin to Elon, a man that sold 70% of his entire bitcoin holding during emergency will do something for bitcoin adoption, I don’t think he will implement that because I still recall when he said something pertaining to energy consumption which has not been cleared.
I still remember his tweets, he explained that because of concerns about the negative impact of Bitcoin mining on the environment, Tesla has stopped accepting car purchases with bitcoin. So I agree with your thinking, the possibility of accepting bitcoin for twitter is unlikely.


Lightning on top of twitter will be as good as  another centralized system which I don’t like and from what ensued between FTX founder and Elon during acquisition of twitter makes me think he wouldn’t attach blockchain to twitter because he rejected millions of dollar due to some conditions related to blockchain and twitter.
This is hard to say, he turned down an offer to work with Sam Bankman-Fried but partnered with CZ.

We should help bitcoin get adoption but relying on Elon and his newly acquired Bird App should rest, he wasn’t here since 2009 and bitcoin has been doing well.

Absolutely correct, we should remember bitcoin has grown without the help of any individual and Elon only entered the market in 2021. Don't let him influence us too much, he does everything for his profit and not for us, don't let him manipulate us again.
hero member
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Mass adoption should be because the government agreed to use bitcoin as a legal tender.
Making Bitcoin as a legal tender would make people refuse to use Bitcoin and would increase demonstration since there's many people still hate Bitcoin. I don't think it's good to force Bitcoin become a legal tender, at least all country should not ban Bitcoin and let anyone to hold or buy Bitcoin freely. IMO there's many people on a countries where Bitcoin get banned want to buy Bitcoin, but they're scared and don't want to face a problem in the future.
hero member
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Bitcoin is already in mass adoption but we want more of it because it's not yet the limit of it. When it's about Twitter and Elon, people are shouting for putting money where his mouth is and that's all about acceptance of Dogecoin.

That reply of Jack is a good one, there should be an exposure for lightning network so as bitcoin and that will certainly give another option for the payments.

If you haven't seen it, there's a followup:



It looks like Musk agreed to this deal.

IMO it won't be a big thing for the price but it's going to make more people aware of bitcoin. You bitcoiners might not believe it but there's still many people out there who use the Internet but know nothing about it.
Nice, this actually a good news if it's allowed. We just want to see the exposure of it and if it didn't click, hopefully Elon won't remove it and let it stay there for bitcoin's visibility to his users.
legendary
Activity: 2814
Merit: 1192
If you haven't seen it, there's a followup:



It looks like Musk agreed to this deal.

IMO it won't be a big thing for the price but it's going to make more people aware of bitcoin. You bitcoiners might not believe it but there's still many people out there who use the Internet but know nothing about it.
copper member
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https://bit.ly/387FXHi lightning theory
There won't be any crypto option sadly because these kind of decisions have to be made at the lower-level product manager meetings, he can't just say they'll accept a specific form of payment method without having the decision reverberate through all the lower ranks at the company so that there is no shock.
If tesla accepts doge then I don't see a reason Twitter couldn't. I doubt they'd be affiliating themselves with bitcoin or accepting it though.

Also, people are saying that they wouldn't want the blue checkmark anyway if they had to pay for it, so no, it won't cause any mass adoption there.

I thought this too. A lot of people were saying it's likely cheaper and more efficient to impersonate someone now by buying a blue check then it is to stay genuine.
I had a thought verified users on other sites could circumvent this by linking to them - perhaps another site could take over twitter that does the same thing (it might have seemed like a big 4 giant in social media at some point - but I don't think it does now unless it gets a thorough reinvent: similar to tiktok but hopefully different enough to not be reels).
hero member
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Not Your Keys, Not Your Bitcoin
I don't know why we like to associated bitcoin to Elon Musk, looking at that comment I feel that they are forced and trying to impress bitcoin to Elon, a man that sold 70% of his entire bitcoin holding during emergency will do something for bitcoin adoption, I don’t think he will implement that because I still recall when he said something pertaining to energy consumption which has not been cleared.

Lightning on top of twitter will be as good as  another centralized system which I don’t like and from what ensued between FTX founder and Elon during acquisition of twitter makes me think he wouldn’t attach blockchain to twitter because he rejected millions of dollar due to some conditions related to blockchain and twitter.

We should help bitcoin get adoption but relying on Elon and his newly acquired Bird App should rest, he wasn’t here since 2009 and bitcoin has been doing well.
hero member
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I do believe that Bitcoin is in the phase of mass adoption already before this Elon musk twitter Bitcoin/crypto payment integration. definitely If things work out in the right way , I do believe with it more and more people will now get access to Bitcoin and I believe in that way it will help mass adoption.

Lastly, we need good fundamentals like ths Twitter deal to help push Bitcoin adoption.
Taking a looking at things, the fundamentals holders of Bitcoin is gradually getting stronger.
legendary
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There won't be any crypto option sadly because these kind of decisions have to be made at the lower-level product manager meetings, he can't just say they'll accept a specific form of payment method without having the decision reverberate through all the lower ranks at the company so that there is no shock.

Also, people are saying that they wouldn't want the blue checkmark anyway if they had to pay for it, so no, it won't cause any mass adoption there.
legendary
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Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.
Elon Musk never fail to influence other people but even if twitter will start accepting bitcoin, only tweeter will benefit from it and not the whole world. So it’s still not mass adoption to be certain. But it will pave way for a good understanding about bitcoin and eventually people will realize how valuable it is, that they will be eager to start accumulating bitcoin and use it for investments and for currency purposes too. Also, when twitter adopted bitcoin, then it won’t be long other sectors too will follow it and accept bitcoin payment maybe months or year from now.

The greatest improvement comes when governments accept it. I agree with these and similar comments. But it should not be forgotten that twitter is a network with global influence. Bitcoin payments could become more common thanks to Twitter. Even the adoption of Bitcoin as a form of payment is great. Elon can initiate this. Of course, he prefers doge over bitcoin. Whichever you choose between these two creates a positive effect. As you said, other networks and industries may follow suit and add bitcoin as a payment method.

we can't disregard the fact that if twitter indeed accept btc or other crypto payment, it may create adoption. though the adoption is different if it is the government itself, but the influence of twitter is global. so we can't disregard its impact in the crypto market. any kind of adoption is very much welcome as it further increase the demand of crypto. with the increase of demand, there will be increase in price.
legendary
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I don't believe Elon will adopt Bitcoin anyway. Rather he might adapt Doge as a blue tick payment. Actually, Elon is following Telegram regarding the blue tick. They add some extra features for paid users who bought a premium package. People assuming Elon would accept doge and it's pumping lol. Even now, Telegram doesn't accept crypto to buy blue tick or premium packages. I don't know if something there matters of regulations. Because as far as I know now blue tick isn't opened for all the countries.
hero member
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Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.
Elon Musk never fail to influence other people but even if twitter will start accepting bitcoin, only tweeter will benefit from it and not the whole world. So it’s still not mass adoption to be certain. But it will pave way for a good understanding about bitcoin and eventually people will realize how valuable it is, that they will be eager to start accumulating bitcoin and use it for investments and for currency purposes too. Also, when twitter adopted bitcoin, then it won’t be long other sectors too will follow it and accept bitcoin payment maybe months or year from now.

The greatest improvement comes when governments accept it. I agree with these and similar comments. But it should not be forgotten that twitter is a network with global influence. Bitcoin payments could become more common thanks to Twitter. Even the adoption of Bitcoin as a form of payment is great. Elon can initiate this. Of course, he prefers doge over bitcoin. Whichever you choose between these two creates a positive effect. As you said, other networks and industries may follow suit and add bitcoin as a payment method.
full member
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Vaccinized.. immunity level is full.
In all honesty, I did not expect this to happen. I still recall what he did with bitcoin last year, it could be another one of his attempts to manipulate markets. Previously, he accepted bitcoin as a method of payment for Tesla but later removed it, citing energy usage problems for bitcoin mining. If he integrates bitcoin into twitter it will cause contradiction between his words.

His use of bitcoin as a payment method for twitter just like other companies accept bitcoin, which would be positive news for the market but not enough to lead to mass bitcoin adoption.
hero member
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Winding down.
Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?
It won’t go straight to mass adoption but I believe in one way or another, it will create a positive start for bitcoin to get accepted as a payment method. Although this is still a survey that may get positive or negative results from the audience, but if Elon Musk will push through about this, this will not just bring positive feedbacks for him but eventually, it will create large benefits to bitcoin owners and users.
hero member
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If Twitter decides to accept Bitcoin as the only method of payment, it will obviously increase Bitcoin adoption.

Although Twitter is a well-known platform that is used by cryptocurrency experts to advertise crypto-related projects, I believe that now that Elon Musk is the owner of Twitter and has a passion for Bitcoin and cryptocurrency, he will try to advance Bitcoin and cryptocurrency in order to increase Bitcoin adoption globally.

However, Elon will prefer to accept Doge coin as a form of payment because he owns a large portion of Doge coin, which will also encourage the adoption of Bitcoin and other cryptocurrencies.
hero member
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Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?
I believe it’s a good start if we consider bitcoin’s mass adoption in the future. Of course we should start one step at a time and maybe this news about Twitter is a great start. Once it succeeds, bitcoin won’t stop there and just wait until other big companies start to notice the potentials of bitcoin. So in one way or another, Elon Musk will also be a great influence to make this finally happen.
legendary
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if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?


I think it helps but adoption won't rely on that entirely.  All i can see is Bitcoin exposure and as far as I know user's have several non-crypto payment option so I think most users will just pay with whatever they had linked on twitter.  Government has a huge part in crypto mass adoption because the government has the authority to accept or reject Bitcoin in its jurisdiction.

On the other hand, to send tips inside the platform through bitcoin could be a more effective feature to boost bitcoin price, because it could be used by a different range of companies, groups and sectors to promote their products, brands and ideas, while paying employees inside the platform itself, without further bureaucracy and difficulties. Even for bounty campaigns it would be a good adoption.

I think Bitcoin as tip option in twitter will be a great help to have users a firsthand experience with Bitcoin transaction.  It is a very helpful option for Bitcoin exposure, remember not because someone received a Bitcoin, he will automatically adopt it.  Others just accept and sell Bitcoin and forget.  Also we all know tips isn't a huge amount, so I think the effect of it to Bitcoin price is marginal.
hero member
Activity: 2716
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Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?
Well, this could be a great start for bitcoin to be accepted as a currency from a big company, but we can never expect instant mass adoption from this. It will still be a long and hard process before we finally make it happen. But I’m happy if this one will eventually happen, because I know in the long run, Twitter will also influence  other big companies to trust bitcoin as a payment system.
hero member
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The impact on bitcoin price wouldn't be expressive, because the blue seal membership offered by twitter isn't acquried by a lot of users of the platform. And the ones who are going to pay for it must do it through fiat, even if bitcoin was a possible payment alternative. Actually, this feature by twitter doesn't have potential to impact bitcoin price in anyways.

On the other hand, to send tips inside the platform through bitcoin could be a more effective feature to boost bitcoin price, because it could be used by a different range of companies, groups and sectors to promote their products, brands and ideas, while paying employees inside the platform itself, without further bureaucracy and difficulties. Even for bounty campaigns it would be a good adoption.
rby
hero member
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When we talk about mass adoption of Bitcoin I want you to know what mass adoption means. Mass adoption does not mean that little number of people will start using Bitcoin.
There is only small amount of number of people using Twitter that does not use bitcoin, so Twitter incorporating bitcoin for payment will not mean mass adoption.
mass adoption of Bitcoin will only happen when government of different countries come in and make it necessary and legitimate for their citizens to start using Bitcoin.
Apart from that there is no how mass adoption of Bitcoin will happen.
hero member
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Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.
Elon Musk never fail to influence other people but even if twitter will start accepting bitcoin, only tweeter will benefit from it and not the whole world. So it’s still not mass adoption to be certain. But it will pave way for a good understanding about bitcoin and eventually people will realize how valuable it is, that they will be eager to start accumulating bitcoin and use it for investments and for currency purposes too. Also, when twitter adopted bitcoin, then it won’t be long other sectors too will follow it and accept bitcoin payment maybe months or year from now.
hero member
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Elon Musk using btc as accepted payment? I think he would rather prefer Doge  Grin

Definitely I don't see it having any impact on bitcoin adoption. Only government policies can actually influence it. Moreover I think most people on twitter are already into bitcoin or cryptocurrency, so the high percentage of people that don't use bitcoin are outside social media. So any mass adoption of bitcoin will be an initiative that brings those outside social media along, which I think will be its legality been approved by government
legendary
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Being to pay for a single service such as this one seems with BTC over LN seems far from the killer user case to push or drive mass adoption. You probably don't just need one new big user case, but rather more a large cascade of them.

Disregarding the controversy of the payment proposal itself, bear in mind that, as of 2021, there were roughly 400K verified accounts on Twitter, which is the target of this recurrent payment. That is less that 1% of all Twitter accounts, and those willing to pay with BTC and or LN are bound to be a dip in the ocean in the big picture. Not to mention that is should be a recurrent payment, which should likely be automated in some way to be effective.
hero member
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Mass adoption should be because the government agreed to use bitcoin as a legal tender. But if twitter accepts bitcoin payments because of Elon Musk, then it's not the mass adoption I was hoping for. Some other platforms also accept bitcoin as a currency or means of payment, previously I thought it would increase the use case of bitcoin as a currency.

Bitcoin is just an option for people if Elon Musk actually accepts the proposal on his platform. So there are certainly positives about bitcoin if Elon really wants to do it, but I don't expect it to be his second joke soon after Tesla.
hero member
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Livecasino.io
Lately Twitter has been filled with the news of Elon Musk's proposal for Twitter folks to pay $8/month for the blue checkmark. And there have been supporting and dissenting voice here and there. One of the comments that caught my attention is that of this user, Jack Mallers. He tweeted "Lightning (instant + near-free #bitcoin payments) should be an accepted payment method. Would allow for global, inclusive, private payments (important for pseudonymous users) that are cash-final (no chargebacks)." I read this, and the first thought that came to mind was, if Elon Musk consents to this we might likely see the bitcoin's mass adoption. Now Assuming this happens, do you think we may see the technical mass adoption of bitcoin?
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