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How crypto Twitter could change under Musk’s leadership

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

The platform is a well-liked communication and information instrument for crypto fanatics, customers and buyers, to not mention crypto scammers, with the social media platform seeing roughly 120,000 tweets per day about #Bitcoin alone, according to BitInfoCharts.

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

This features a give attention to free speech, eliminating spam bots, faux accounts, an edit perform and presumably even crypto funds have all been considered and will nonetheless be on the agenda if the deal goes by way of.

Spam bots and pretend accounts

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

Throughout a TED speak in Vancouver in April, Musk stated that if his provide to purchase Twitter had been profitable, a “high precedence” could 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 might 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’ll defeat the spam bots or die making an attempt!”

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

Free speech, and 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 U.S. President Donald Trump, who was completely banned from Twitter following the Jan. 6, 2021, U.S. Capitol riot.

Stating 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”, Musk 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 poll that finally noticed over a million votes and had 82% of respondents saying “Sure” to the proposal.

It’s not completely clear what Musk has in thoughts however it might imply permitting the software program to be open for public inspection and permit customers to learn the code, use it for his or her functions and make strategies for adjustments to the way it works.

Different concepts

Different concepts have both fizzled out, or have already been carried out, reminiscent of 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 looks set to go with original $44B price tag

Musk additionally had the concept of including an edit button and lengthy kind tweets, nonetheless, Twitter could have overwhelmed him to the punch with the edit button after the platform revealed that choice just lately.

The crypto group continues to be divided over whether or not the transfer shall be a optimistic transfer for the platform, however others have taken to poking enjoyable on the entire state of affairs.

Twitter seems prepared to simply accept the phrases of the deal, saying in an Oct. 4 Twitter submit they intend to shut the transaction at $54.20 per share.