Bitcoin Forum

I watched a Youtube "Live" video last night, where there was a discussion between Elon Musk and 3 other people. It was more focused on things that would make Bitcoin mining more efficient and "cleaner" for the environment.

One of the things that was mentioned there.... was Elon Musk ..asking the question "If it would be a nice thing if Twitter advertisers could pay in Bitcoin. Now, that got me thinking...... imagine if we can convince only one of these large social media platforms to accept Bitcoin as a payment option.

It will cause a ripple affect in the Social media scene and it will be a good push for Bitcoin as a method of payment. I hope now that Elon Musk have some say at Twitter, he will make things happen for Bitcoin BTC too.  ::)  (He owns more than 9% of Twitter... but he declined to be on the board)

How much will the Bitcoin price spike.... if a decision like this was approved..... and will this boost the global economy?

It would have been appreciated if Tesla accepted bitcoin than what Elon Musk planned that Tesla no longer accept bitcoin because bitcoin mining is not environmentally friendly that Tesla will accept the coin that uses 1% of the energy bitcoin is using. People already knew he was planing to make Tesla to accept doge.

When Elon Musk had paid $2.9bn (£2.3bn) for 9.2% of Twitter, the effect we saw in the market was the rise in doge, it is very good how it did not have effect on coins like bitcoin. Although, it will be good if Twitter ads are paid in bitcoin, but better how his speech should not significantly affect he crypto market.

All I think is that the more people support bitcoin, the more the adoption.

No wonder he is called the lord of cryptocurrencies! Only from his words the course can rise and fall. This guy knows his stuff and how to get money out of nothing. I don't understand how he does it...I think this is Elon's next step to make money and now after his words we will be able to see the growth of bitcoin again.

To answer this question, we can think back to what happened when pornhub implemented bitcoin support.


Sometime around september 2020, pornhub added BTC support.

We can see bitcoin's chart from september 2020 to january 2021 below.

https://i.ibb.co/C6CsVwp/btc-price-sep-2020.jpg

Chart shows a rise from 10k to 30k over that period. I think its hard to argue with those results.

I am not sure if the introduction of an additional payment method on the Twitter platform will boost the global economy (probably not). However, I am sure that if Bitcoin were introduced as a form of payment on Twitter, it would definitely be the main reason why many companies would also follow this example. I do not know how much the Bitcoin price would increase, but it would definitely be a trigger for long bull run and the $100k level would be easily exceeded.

Why not DOGE this time?
Well, he can really do that now that he’s part of twitter and I’m pretty sure this will happen because Elon really knows the value of cryptocurrency. If twitter officially announce this one, this can be another big news and hopefully to help the market rise again, let’s see if this is just a rumor or a real one.

It will depend if advertisers are bitcoin adopters or not. i don't see a huge impact, because it's likely most advertisers will keep using fiat as payment method, just like it happens on another platforms which started accepting bitcoin as payment before. As we know, bitcoin is mostly used as investment instead of currency.

Maybe it was just coincidence. It's hard to imagine pornography has potential to boost bitcoin price like that. That pump should be more related to the weak phase traditional economies were facing due to the peak of covid pandemic, with low interest rates in US, so investors had to move their funds to something more profitable and safe from governmental interferences.

On the other hand, if what you say really happened, we have the proof activities people prefer to practice hidden and are considered shady by the society, are impactful to spread bitcoin adoption due to its pseudo-anonymous characteristic.

If there are words that surfaced in speaking with this one then there might be some possibilities but dont expect that much because it would still depend on Twitter whether they would really be accepting Bitcoin in Twitter

ads and its true that its mind boggling on why not hyping or suggesting Dogecoin? Well, he might be reserving this one for another thing (maybe). No matter what intentions he do have in mind
as long it would benefit out total exposure and awareness of Bitcoin existence or crypto as a whole then that what matters.

It would generate some short-term hype and that would be it. 99% of transactions will still be done with fiat. Lets go back to history and look what happened when Steam was allowing gamers to pay with Bitcoin - Bitcoin payments were just a tiny amount of all purchases, Steam dropped Bitcoin and absolutely nothing bad happened to their business. Like it or not, Bitcoin is mostly used as an investment/store of value/asset for trading. Even Bitcoiners don't hurry to pay with Bitcoin when they can.

but such scenario is not impossible to happen. it may be sooner than we think. but yeah, even if they will drop bitcoin, it won't affect their business. the option of additional digital payment is just there for them waiting to be tap.
and yes, i agree that up until now, most of us are looking at bitcoin as investment and not an everyday currency for payment.

It is only Elon Musk's idea, not really big news for me. Except, Twitter CEO, Jack Dorsey, delivered that idea. This can be big news for us, and it is probably applied to Twitter Ads. Anyway, I don't think Twitter will consider Elon Musk's suggestion, they should have their own perception about Bitcoin payment for Twitter Ads. After all, Twitter may have known this idea for a long time, so I don't think Elon Musk was the first one to come up with this idea.

No wonder that Elon suggest those suppositions in form of wishes as the world actually knows that he owns 9% of Twitter capital (having the greatest part of the actions not owned by the company)for about $3.7B. Also no wonder that suggested later to buy all the rest of the actions for about $43B saying that he want to transform twitter into a free speech environment.

Did he really talked about Bitcoin? I saw some of his tweets after acquiring more than 10% of Twitter stocks on that day especially about the freedom of speech because he feel that twitter is more censored now and works against the freedom of speech also he mentioned about that we are moving to new social media if the same trend followed when it comes to the freedom of speech from its user. But I guess he is just saying not very serious because the same man announced that Tesla no longer accepting bitcoins few months back.

In a reference I read that Elon Musk Proposes Dogecoin for Blue Twitter Premium Subscription Payments but not bitcoin. does this contradict other issues about Elun Musk proposing bitcoin as a twitter advertising payment.
Elon Musk, Twitter Inc's biggest shareholder and suggested a series of changes to social media giant Twitter Blue's premium subscription service, including cutting its price, banning ads and providing an option to pay in the cryptocurrency Dogecoin.

reference : https://www.ndtv.com/business/dogecoin-for-twitters-blue-premium-subscription-payment-proposes-elon-musk-2875733

I think this will give a very good boost to bitcoin. Any such news gives a good result, if this really happens, then the price of bitcoin will rise very much. And the rest of the altcoins will start to grow behind it, it’s worth looking after a few for this moment. This will indeed be a big step for bitcoin!

If it's approved, I think there will be a new ATH. Twitter is one of the biggest social media and their advertising revenue is huge, I've read an article that discusses their income. more than 5B$ per year, and imagine if 20% of that ad revenue was paid through bitcoin. it would cause a ruckus, maybe it would trigger something else. which has a very good impact on the market.

good data. and if twitter accepts bitcoin, maybe it will repeat itself like when pornhub accepted bitcoin. it means there will be a big increase and create a new impetus for the bulls. it is possible that bitcoin broke ATH and flew high after the news was released. after all from the very beginning twitter was a crypto friendly platform. So I hope the board of directors takes Elon Musk's suggestion into consideration.

I think you have to look at the bigger picture, because one man cannot change legislation and regulations in a large country like the USA. The different States within the USA have different laws and regulations.. but the one thing that has not been approved... are that Bitcoin or any other Crypto currency are approved as legal tender.

So even if Elon Musk wants Twitter advertisers to pay in Bitcoin, he has to get past the current legislation ...and the current laws does not allow for Bitcoin to be a currency. (They might do this through Payment processors, if they allow for that)  ::)

It would be nice if Mr. Mars hasn't created all that confusion among people with his tweets about various things when it comes to cryptocurrencies, which he himself admits he doesn't know much about. To say that it would be good for Twitter advertisers to be able to pay in Bitcoin, and at the same time to say that his company will not accept that same Bitcoin as a means of payment is not only hypocritical but also completely stupid behavior.

Even if such an option appears, as others have already shown in the examples, the average person who owns Bitcoin is not inclined to use it as a currency, but as an investment.

That's very much unbelievable for me to hear such a thing from Elon Musk and most likely he is joking. because the company he got the control over it and which is very much famous in the world, tesla stopped accepting bitcoin and instead started accepting dogecoin just because of the bitcoin minings while right now he is talking about Twitter ads accepting bitcoin, however, and regardless of him, I think even if Twitter accepts Twitter ads payments via bitcoin we won't see any spike and sharp price movement just because of that news about Twitter ads.

If Twitter starts accepting bitcoin payment for ads, that will be a huge push towards a mainstream adoption. But that will not be available worldwide for sure because of the unfavorable or no legal framework in many countries. Possibly Twitter will be able to implement such things in some progressive countries only.

Also it will bring in a huge reputation change in the eyes of the sceptic people. It's always positive to be able to associate with the big brands.

That made me suspicious and it reminded me of what Tesla company did before when they accepted bitcoin as payment and got rid of bitcoin just a few days later. There are rumors that Elon is looking to buy out the entire Twitter social network and if that happens, I think he will continue to rock the market with news like this again.

It was on my mind too why Twitter doesn't accept Bitcoin where Jack Dorsey supports Bitcoin massively. Twitter is a popular social platform at the moment and if it accepts Bitcoin then of course it will be a big adaption for Bitcoin. I don't know how it will affect the Bitcoin price but it's a really bull sign. We may see a massive spike in the price, but Since it's crypto we can't predict something exactly. But hope it will happen today or tomorrow.

He is not trying to change anything and bring an evolution in the people's life, he is just confusing then which is what I tried to say because the Elon announced that he is no longer accepting bitcoin for Tesla payment because it is not good for the environment but the same person is saying another company to have such an option which is kind of contradictory.

It is clear that Elon Musk wants to manipulate the market, he is the king of manipulating cryptocurrency through his misleading statements, if he was true to his words about Twitter, he would have better accepted the purchase of Tesla by paying with bitcoin, although his words about accepting Twitter payment with bitcoin seems good and could be Leading to great growth in the cryptocurrency market but I don't think he is being honest and I think he wants to manipulate the market.

"The more, the merrier."
It should be social media to first launch this kind of payment methods. They are on the frontlines now of everything. From news, marketplace, and people making money out of it. It had been an enormous impact to the world and what could be more appealing is if they set new standards of payment types.
Make it futuristic. Deal with the new kind of currency as we are all going digital.
I think it will be big if we are talking about impact.
This is the good start.
https://help.twitter.com/en/using-twitter/tips#:~:text=Tips%20is%20a%20feature%20that,and%20platforms%20you%20have%20added.
It may be small in amounts but its a start. Business paying in Bitcoin will explode the market.

It seems that Elon Musk's goal is to manipulate the market,
whether it's true or not we have to be careful because we know for ourselves that Elon Musk can do anything,
the most important thing is not to be easily consumed by his words

He doesn't really need to own twitter to hype coins. I mean he has been doing that for a while and it hasn't really been something that is banned or seen as a big problem by twitter. He has promoted doge for like a whole year and nobody said anything about it, he was allowed to do that. Dude could change the markets with a few things.

I mean he is too rich to care, but if he wanted to make like a few million dollars, he could find some coin, buy it like 50k 50k each day for 100 days which would be like 5 million dollars worth, and then he could just promote it on twitter for a few times a day for a few days, it would go up at least twice, probably more if he keeps hyping it up, then he could dump it. He is worth billions so he won't care, but nobody would also be able to stop him either.

I think it will. Elon recently announced that he wants to buy back 100 percent of the shares of Twitter, so the ability to pay with bitcoins. He wants to prove to everyone that bitcoin is a real means of payment, I think he will succeed. These events will greatly increase the price of bitcoin, so you can play on the appreciation.

Generally, looking at that acceptance most companies accept bitcoin. There will be surely a great effect on the market for which the demand will go up.

There's also the breaking news a few hours ago that he has asked to buy shares of Twitter or entirely the company itself for $42B. And I guess that's the hint from the few days of what he said about accepting bitcoin.

Well, if Jack and their colleagues agreed. Will he add the option quickly?

Twitter isn't just home for cryptocurrency investors, it harbour every business owner you see on the planet, it has gain a such magnificent impact in the society, there microbloggling platform is most visited when compared to Facebook due to some data protection and users identity thefts, people can also communicate around the world but you Doge cannot do all these things and not just that, the company wouldn't sit and allow him do such kind of thing ( I know you would say they added bitcoin, it's more better compare to meme coins) by allowing him use $41B of companies fund to buy Twitter.

we know elon musk has shilling habbit, he continuesly create hype and as if give us hope meanwhile no one from twitter confirmed his opinion. But his actually great to drive bitcoin adoption in giant company which is used by millions user around the world. if Elon musk and Jack Dorsey have  great deal regarding this , i am believe bitcoin movement unstopable anymore.

Actually we still don't know his true intentions after taking over the social network twitter. If that turns out to be true I will still be skeptical about accepting bitcoin for twitter but I believe this will be extremely beneficial for crypto as it is top preferred social network in crypto. Elon has also expressed his view that twitter is a potential social network, but there are too many regulations that make them not a place for free speech.

Are you all ever satisfied with all these unnecessary requests? Twitter added an option that allows creators on the platform to receive payment through Bitcoin, Ethereum, and other payment methods, isn’t that already enough? If there was any effect this would have made, then that one too would have also had that effect and even more.

So, Twitter is already having these cryptocurrencies on their platform, but for a different purpose. Bitcoin is already huge and if what we have had so far can’t convince anyone to be part of it, then you can’t convince them. You can’t force people into it and you should also understand that adoption takes place slowly, and is not something that happens in a blink.

That’s a bit off point from the topic you said that they were discussing on the YouTube live. And when you talk about the price of bitcoin price having a spike because of social media, do you mean like on a short term? I don’t really think that would be how it goes.

There would be an increase, but it would be the progressive type of increase that would spread across, because the community will still continue to grow gradually, although it might speed up adoption a bit, but I think majority of people around the world today that knows what the internet is and makes use of it most likely knows about Bitcoin and we don’t really need Twitter accepting for ads before they would make use of it.

Considering how widely-followed he is, I think just him mentioning btc is good enough. Still glad that there were no massive movement though. I don't want Elon to be a walking CCP where a single announcement can just crash prices (at least it used to).


Now if only they really got to making those wristbands and have those mine cryptos while at it!  ;D

Just one more place for him to screw him. Look I do not hate the guy, he is a bit weird, and he acts as if he is the creator of it all and like some super smart person, which is weird.

Dude took over tesla from two other guys, he is not the inventor of it, he just put a ton of money into it, he didn't even do a single line of code on spacex, has absolutely zero contribution and most of the funding came from the government, and now we are acting as if this is the guy that created electric cars and space travel for some reason and he acts as if he is some genius. However, dude screwing up twitter would be probably one of the best things because twitter is just way to awful, like seriously don't ever go there :D.

This seems like he is trying to mix business decisions with his coercive and manipulative strategy to take over Twitter. Frankly he seems like a very dangerous person to be in charge of such a platform. I'd rather never know the owner, or at least have someone who is very softly spoken, than some megaphone who comes out with any old trash that catches his attention. Elon has funded some marvelous projects and ideas in the past, so kudos to him for that, but he is not mentally stable and in many cases acts impulsively. If Twitter is such a powerful platform for free speech, as he suggests, then he should leave it along because he is not the right person to control it.

Elon is a person who is an influencer, we all know it, if we take into account that Elon Musk has so much influence in the world, any of his tweets can have an impact on any topic, but evidently he did not know how to do it with the BTC community, he supported, then he infused FUD, with his part of the clean energy what he did was bring problems for the miners and cause some more disorder, so now with the purchase of Twitter of some of his shares, with the way to support BTC to through twitter it is because he wants to congrase himself and it will be very difficult for him, because he believes that what he knows is the only truth and it is not like that.

Connecting the dots - he buys twitter changes the entire payment system to crypto currency as primary and fiat as secondary. Lol. More haters would be at him though I find it best being crypto enthusiast. I am not sure up to what he is doing but major companies in the world should themselves start thinking about adding such options. This could either attract more customers who are crypto lovers and it could definitely put some movement into shares of those companies. However, this is just hypothetical so I am not really sure if this is happening anytime soon. But if you see this in management point of view its risky for the business as of now, considering the volatility of bitcoin. Like company might have 100 mln in one day as revenue and the next day bitcoin falls and actual fiat converted revenue is like 80 mln. That would be difficult to manage really.

Crypto is shining and getting more and more direct adoption, it's time for twitter to immediately accept ad payments from cryptocurrencies, and I hope Elon musk's plan to buy twitter will be realized soon so that twitter and crypto will shine even more.