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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.

Zuckerberg and Elon is not very different when it comes to business. Elon ask $8 fee for a check mark for its KYCed account. He wants money also.

Creating stablecoin is not just about making money, its about regulation from the government. Tether alone has been bombarded by SEC also and the rest of the stablecoin is not safe. While Elon is already a controversial figure by taking over Twitter and attacking Woke, the more he'd be burying his head upon having a stablecoin.

1. Creating a stablecoin for a specific platform is a waste of time

2. The stablecoin needs to be backed by something. Elon obviously can't just pay people $1m per day as the stablecoin will instantly nosedive in value regardless if it's backed by something or not

3. You probably need to spend more time in understanding how markets work

 If Elon Musk intends to do so, governments will not need to allow it, the government should keep that condition.

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By the way, this is the wrong way because it causes inflation because if a stable currency is pagged to dollar it should be bought with dollars at 1:1 ratio, But there is a solution if banks were made along with it to buy those stablecoins which will create deflation.


[moderator's note: consecutive posts merged]

to be honest, I don't want to see Twitter become like Facebook. Social media has turned into a place to do business. this may happen but to make a stable coin of social media platforms what is the goal? support trades that occur on the platform? or social media platforms that will turn into markets.
I hope this doesn't happen to Twitter. may Elon continue to create social media, where people interact with each other without thinking about business.

None of this billionaires actually wants to make everybody rich, they understand that if the whole world is rich then they won't have anything to sell to poor in making themselves more richer. Elon musk is far worst than Mark Zuckerberg when it comes to money, the only reason people hate Mark Zuckerberg is because he doesn't respect privacy.
Mark Zuckerberg can't ask you to pay money to use his platforms, he'll give you for free but he'll steal your private information to sell them for profits while Elon musk has boldly come out to tell people to pay to be verified on Twitter which just takes aways the whole point of been verified in the first place as now everyone can be verified.
Lastly stablecoin aren't profitable and Elon musk doesn't partake in unprofitable business so that isn't going to happen. Elon musk would likely make dogecoin a payment currency on twitter then implemention a stablecoin as he knows he'll make more profit from the dogecoin.

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

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

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

You have no idea what you're talking about and what money means.
If he makes a properly backed stablecoin, then he cannot just give out that because he will soon spend all the funds (meaning he will have too much "backing" funds locked for that, which he won't be able to touch, unless he do scam like SBF)
If he makes a stablecoin that's not backed (so out of thin air), as soon as that's being found out, the stablecoin will become worthless and he may end up in jail.

So:
1. Crypto is not a get-rich-quick scheme.
2. No matter what he does, he won't give out free money.
3. You need to stop dreaming for free money and get learning so you can make yourself a proper future.

You can support Elon but I already have a stablecoin that I like. What do you mean by paying $1 million per user? Is that some free money Elon will provide and distribute to its users? I don't think Elon would do that. Elon is a businessman who wants to make as much profit as possible. He is good at creating an atmosphere of conflict and making noise, even in the crypto market.

If Elon wants to create stablecoins, he must have a secret purpose behind it and he must want to get more wealth. He would not think about the people who supported him and instead let them go.

Then where will the token be used for? posting? If it is for twitter then its utility will be limited to the platform itself. And for it to be stable, users should be okay with it. As far as I know, most of the users of twitter are into posting stuffs than watching videos (if I'm not mistaken). So think of this: if that token will be used for twitter usage, will it be sustainable. But this is just measuring tendencies and possibilities for the token since Op have mentioned about stability with the token's market value. If we would base or compare to stable coins such as USDT there is a continuous usage of it in transactions. This would be a possible alt, and being stable is somewhat impossible.

Wait, what? I don't think you understand how the market works. No matter who creates a given stablecoin, it is important that it is fully backed by some assets. Only in such a situation does the stablecoin make sense to exist. Doge is enough for Elon to make big profits, there is no reason for him to build himself another stable coin.

Why he will need to create a stable coin for Twitter though, it doesn't make sense.

He already have his Dogecoin right? the coin that he has help shill and push to where it is right now. So it make sense for him to just used it for his Twitter. As far as Elon and Zuck goes, they are both businessman, so what is their ultimate goal? to make more money. So in the grand scheme, they will have to make money out of Twitter and Facebook user or it's advertiser.

Anyhow, we can't debate here as it is obvious that the OP mind is close minded as far as his support to Elon Musk.

I think he wanted to get as much and as fast as possible money he bought Twitter and this is his first move. Soon if he has some good plan, Twitter might change its course and will be successful but of course, it will be more wealth for him also. That's just a small amount and when people see the advantage of getting KYCed others will also follow them and will gonna pay. I think this payment will gonna increase gradually depending on the demand of the users who want it.

Elon musk is the big bug in the crypto currency world for now. When he made a twitter, it reflected in the market. It will have the impact atleast for two days. Most of the whale use that condition to do trade and get some little profit. Because whales will had huge bitcoin which they brought from the entire bear market. Most of the whales play huge role in the crypto currency market. They are huge responsible person for the bear market. Only few whales had influenced the bull market and get profit from it. Because making profit from bull market is not a easy one. Surely the long term holders will play the important role in bull market.

A stable coin for a single platform as a utility? I don't think it will work that easily and stable coins are need to be backed by something in order for it to be pegged. It would be another centralized stable coin if Elon made it and I don't think he will that much money by creating it if we compared it to other of his businesses which is much worthy of his time. One possibility that Elon can do is integrate the use of his favorite coin Dogecoin in twitter like a payment. I don't see Elon creating his own stable coin and how will he make the world rich quickly. I don't think you understand how stable coins work.

Why don't you just create a stable token for yourself rather than rely with elon musk to create stable token for you? What you have been wiring above may exist in your imagination but that will never become a real thing. I guess if you're drunk to get rich quickly and you started to think a non sense think like that. Elon cares about himself. How easy he was firing bunch of twitter workers. that proves that even he doesn't care about his workers. He didn't even know if you were alive lol.
Stop try to fooling yourself about that, wake up from your dream and start to accept the truth if there will be no thing like that.
You were only writing it based on your imagination.  :D :D :D

Elon Musk has completely different goals after buying Twitter for $44 billion. He is trying to monetize his business, so your dream that he will start giving you free money has nothing to do with reality. It seems to me more realistic if Doge will be used for calculations on Twitter.

Elon is not going to giveaway free money, instead he is going to take money from everyone and get richer himself. He is creating the blue badge thing for 8$ so that it all goes into his pockets, fcking greedy guy! 😂
Its so aweful to see ppl even take elon's actions seriously, he plays for fun..

Elon's goal is to have his ROI as he spent a lot just to be the CEO of Twitter. Business is business for him and sharing his wealth to everyone would never be his goal. He actually purchased Twitter to get richer and to use this platform for his businesses' growth as well as his crypto manipulations for his own benefit.
He will never give free money but rather ask for users' to pay him. Elon's mindset only revolves around his wealth and how to maximize all of it.

He's an entrepreneur and he spent $44 billion to own twitter and it's his business so it should come as no surprise that he's looking to monetize people. I think if we were in his position we would do the same so there is no point in criticizing him, no one spends $44 billion buying something useless or giving it to charity. Just because he knows how to make money from people cant call him greedy but because he is smarter than us.

i'm not sure someone like Elon Musk would plan on making stable coins whereas he likes like doge coins and the like which have high volatility I might speculate a bit if Elon Musk might make a doge-like coin.

First and foremost Elon Musk dislikes people who are entitled. So if you think that you are entitled to get a million dollars for free, good luck with that.  :P. Elon is smart enough not to create something stupid like a fancy stable currency, which stable currency is transparent enough to show their entire audit report .

Good that you are not in any regulatory board either  :P.

He mentioned from the OP that Mark Zuckerberg intends to be the richest man in the world. And also he said that Zuckerberg is not interested with Bitcoin.

I'm somehow confused, what about USDT? Isn't it only backed up by it's own reserves? What would be the difference if Elon and/or Zuckerberg created their own stablecoin with the same concept as USDT has?

looks like your support will be in vain.
maybe you don't fully know that Elon Musk acquired twitter just for his business and I think Elon Musk will have no interest about it and will just waste his time.
and actually without Elon musk handing out $1m per user I think bitcoin liquidity will still continue to grow.
so don't expect more than that

Hahhaha OP i will not at all support this dear Ellon musk the shit poster for dogecoin and all other shitcoins. I think if he approves your plan and follows it then we are going to have the most shaddy stable coin I am not sure about it bro. Its my assumption but I won't allow him to be more stakeholder in crypto market this will prevent manipulation.

I don't see that Elon Musk will look forward in the future to creating a stablecoin for Twitter, do you think he can pay Twitter users who exceed 1.3 billion every day a million dollars? I don't see any benefit for Musk to do that, and this stablecoin will be backed from what? How will he maintain the stability of the stablecoin price? I see that he can adopt Dogecoin or any currency that is compatible with his interests, but creating his own stablecoin, I think is illogical, and he will not gain anything from it.

What I see in Musk is that he is a smart man and a supporter of Cryptocurrency, and I see that everything he does is the result of a feasibility study, so if he creates a stablecoin for Twitter in the future, then I think that there is something that we do not know and we do not know its results for him.

I don't think, Elon musk will be able to create a stablcoin in this bear season that is affecting both altcoins and Bitcoin. Despite, he has Money to invest on potential assets doesn't mean he can create a stablcoin to pay users per $1m per day, and I don't believe such thing will happen in the community. We know that Elon musk has money but he don't have money to spend to create a stablcoin.

I don't understand why Elon and Mark here are distinguished because they are still the same if I compare them in this case.
On the other hand Elon made Stable coin? Is it really something like this that can be feasible for him, especially with all kinds of tricks for commercial materials and personal gain? I think if that was the goal stable coin remained in the end the scheme would still be the same pump and dump as he did and even he would seek his own profit from the start before tearing it down.

Hm, I stopped reading and making any sense out of the post after they said it will make everyone rich in the world. That is not how the world works and on top of that, it’s not the way financial circle works. If everyone became rich then it won’t solve any problem. There is still laundary to be done and dish to be served which means there will always be differences. I am not being rude here but I am being straightforward here. It is what it is and if there are millions to be distributed then let’s not forget there will be more billionaires and some trillionaires if that’s how the formula is going to work with Elon and his stable coin.

Are you talking about paying $1 million per user per day? I couldn't understand your statement, I'm sorry, I think you are making an irony.

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I'm currently using BUSD and DAI, but I must admit that if Elon Musk creates a stablecoin, I can trust it at least as much as BUSD. Actually, I don't trust cryptocurrencies with centralized structures, but I sometimes use them when I have to... Centralized cryptocurrencies are projects open to every entrepreneur. Someone with a good reputation in the public, like Elon Musk, could embark on such a business. I don't see a problem in terms of free market dynamics.

He entered the market by situation and have made good fortune out of it. Now he knows the market is big and he waits for the right chance to make money. Being the richest doesn't make him stop making money. He continues to make money out of different products, one amongst is cryptocurrency.

He'll never make it happen, because it'll disturb his network with some issues. If not a hack is more than enough and his money making plans will not be supportive for such move. Whether it is Zuckerberg or Musk, both are just money makers out of technology.

Depends on its technology and depends on its chain, if its just like other stablecoins who failed already then I wont take such risk. If Elon will create his own crypto, we can expect it to be more centralized and pricey, with this I will not take a bite on that trap because I know, regulations will be more active. Bitcoin is the best option for me, Elon is just a hype and he manipulates the market, so better to be careful.

Stablecoins are not really my favorites really, they are stable and someone makes it stable and that means we trust them to make it stable. Just take USDT for example, if they end up bankrupting tomorrow just like FTX did, what could we do? We are talking about tens of billions of dollars and its not impossible for them to bankrupt neither, they are human after all and they could make mistakes as well. If Elon creates one, there is always a chance he could fail too, and that's not something I would like to be part of. Crypto is crypto, its decentralized and I rather keep it that way if I can, easier on my mind.

Creating a stable coin will not help him bring profits and he does not have time to create and distribute for free for everyone. Are you dreaming? He is a person who always has a business mind that will see money everywhere, so he will continue to play with Doge instead of creating a stable coin.

Do you think that he'll just handout money for free? I don't think so, he's a master of manipulation and the recent that I've heard of him is about making competition to the monopoly of iPhone and Android phones. That's more interesting rather than him making his own stable coin.
He doesn't have to make one, although for sure there will be flock that's gonna follow him with that and then its name will be easily be heard because of how noisy his name is with the media.

creating such coin for elon would be such silly idea mainly because he couldn't make that much profits out of it, added with the fact that having such coin require tremendous money reserved in which I'm sure would be a bad idea for elon after he has owned twitter with billions of his money. now even twitter is becoming chaotic I think creating such coin will be the last thing that elon would be thinking of.

This is the most strange idea.At the moment,I don't see much interest Elon in cryptocurrency and its full integration on Twitter.I can't even imagine the economy of the future stablecoin and who will use it.And why did you decide that he would give out money for something?

what is the difference between mark and elon? I think both of them have the ambition to become the richest person
if twitter creates stablecoin too. like Facebook I'm not sure it will be successful, Facebook should have been an early example of creating stablecoins so far it has shown no results,

try to innovate more, don't just rely on stablecoins, because crypto is not a tool for creating money and the benchmark for one platform is to be big
By paying blue tick royalties, I think Elon can already benefit from it without having to create a stable coin

I've heard about it too but he doesn't make phones to compete with apple and google, that only happens if those two companies remove the Twitter app from their platforms. This is just someone's question and he is the one to answer.

Elon and doge get along so well and it's enough to make a profit for him, there's no reason he needs to build himself another stable coin. I feel a lot of people are blindly crazy about Elon, recently someone came up with the idea that Elon will buy the forum and now the idea that he will create a stable coin. He is not a crypto enthusiast like we think, what he needs is money and he is also doing very well now without creating anything more.

If Elon Must create its own stable, there is good possibility that many persons would want to buy it as fast as possible because we all wants to make money but I am not sure if the government will accept that just like the way Mark Zuckerberg was attacked when he brought out his idea to create his own coin but the government never support that idea.

Is this sarcasm? Why on earth Elon musk gave any stablecoins to users? He was just complaining that no one isn't paying to HIM for using twitter and now you are saying he would just give money away?

But it would be hilarious to watch his stable coin adventure before SEC shut that down and fine him for breaking some law that he didn't think ofm as he was too busy having his own stable coin (for some weird reason).

I mean if he wanted to gift stable coins to users, why not buy $100 million worth of usdt and gift that as it's there ready already.

You want someone who recently just implemented a policy that those Twitter account with a blue tick should start paying $8 for it, to give you free stable coins. Keep on dreaming.
I don't think a time will ever come when Elon will implement or decide to give out free stable coins to his Twitter user.
All that goes through his head is; "how will I be even richer?" And not how to giveaway the ones that he has.

So if you're waiting for free stable coin then you probably should start looking for the location of the WONDERLAND.

This has to be the stupidest post I've seen in quite some time. 🤷‍♂️

Elon is only focused on finding ways to increase his wealth and if he wants to create stablecoins, there must be something behind the plan and it must be because he wants to be richer than anyone else. But with his current wealth, Elon could create a stablecoin and share it for free with those who support him to entice more people to stand up for him. I don't really care what Elon wants because he wants to achieve his goals using the support of people.

Oh yes. I forgot the condition if ever they'll remove Twitter from those apps and I don't think that they'll ever do that since they don't want to have another competition that's good at PR and marketing.
Elon is good staying with meme coins especially Dogecoin, he's been effective with that and those that thinks that he should start a stable coin or another coin. It's just going to be another pump and dump material in the market for which he'll surely earn from the people that's following him.

Along Musk is a business man. And a brutal capitalist at that. He knows where the bread is buttered. And he know the stable coin bread is not buttered by any stretch of the imagination. So I you think that's his next line of action for Twitter, think again

Why create another shitcoin for each project? There are already more than 9000 coins on coincmarketcap. Where is more? If Musk wants to use crypto on Twitter, then let him use his beloved dogecoin. Simple and cheap solution, right? But it would be even better if Musk added bitcoin to Twitter for payments and user's rewards. That would be the best action on his part.

You will support Elon Musk if he creates a stablecoin and then pays 1 Million $ to each user every day? Do you even know how the economy and the market are working? You can not just create Billions and Billions of Dollars out of nowhere because that would generate such a huge inflation that all the money would be worthless. Also if everyone would be a millionaire then the world would stop to work because then there would be no more people that would do all the dirty and work that is necessary to keep he planet running.
That being said, i also support Elon Musk because he wants to make twitter to a place of real free speech and that is very important in my opinion.

doesn't elon love dogecoin more than making a new stablecoin for twitter, but it looks like he will separate about any crypto with twitter even though it could make his wealth increase even more by providing crypto a kind of stablecoin on twitter obviously it will make the crypto community more active encourage elon to support it's not only you, but what I'm asking is what is the advantage of twitter making stabilcoin because I think of course it will be very complicated with regulations

Regarding business, Elon and Mark is same! Also I don't understand why there is a need of a new stablecoin only for Twitter? Why can't Elon use one of the stablecoins already running in the market. Creating absolute monopoly is a great business practice but not very beneficial for the users.

So from an individual's point of view, I wouldn't like if Elon tries to create a separate stablecoin to be used in Twitter. That's not what cryptocurrency is meant for and that is why Libra failed a big way!

What's the difference between Elon Musk and Mark Zuckerberg? neither of them are both businessmen who when spending money, have already calculated the profits to be earned, so don't say unreasonable things, they are both not people who care about making other people rich or at least care for other people's lives better, if Musk really loves dogecoin so he will use that coin because crypto lovers will be more comfortable using dogecoin than the stablecoin he created.

Well, Elon has the means and the possibilities are somehow unlimited for him. We can speculate about his next moves, but that won't take us anywhere. Elon is an enigma and he has surprised us all too many times, in positive and negative ways.

I definitely agree that he is a brutal capitalist, and his actions are calculated to bring more profit to his company in the end.

I don't see Elon Musk creating a coin for Twitter; neither does Mark Zuckerberg. However, both will continue to support bitcoin, cryptocurrency ideas, and other coins like they did in the last cycle. Due to Elon's business relationship with cryptocurrency investors as well as his ownership of a good portion of Twitter, it is possible the app will continue to support cryptocurrency. The company can also support or invest in a startup so he can make an early exit like he did. They believe and understand other low risk business and may not gamble too much money on volatile crypto market

OP is speaking and making emotion based choices. Making choices with emotions is not good. Elon Musk is in business to make money no matter how it may not look obvious, I don't think his major concern is the eradication of poverty. Also it somehow feels like you expecting a wealthy man like Elon Musk to lift you or people out of poverty as a sense of entitlement, He is not under any obligation to do so.

I believe Elon is always open to new and innovative ideas and am sure he will find this great idea of yours very innovative especially the part where he will give out $1 million  ;D
While you are in brainstorming mode, hope you thought of how the stablecoin will be pegged and the backup asset to ensure what happened to luna ust did not happen to your imaginary twitter stablecoin.  Creating a stablecoin is not as hard as backing it with a strong asset.

Why do you think that Elon would be interested to create a stable coin and then pay money money to his users, you do not get to become one of the richest persons alive by giving your money away, in fact we know he wanted to do the opposite and charge money for becoming verified, so make no mistake even if Elon is incredibly popular he is not a savior or anything, and if given the opportunity he will always try to find an opportunity to get profits for himself.

Hype will always follow Elon but know that whales are working behind that so probably it can be manipulated so I wont take such risk to support that project not unless it provides good service and utility in cryptomarket. There’s no question about the innovation my only concern is that, who will control that project at the end of the day. Creating this stabelcoin might not be their option for now.

Actually it’s your personal opinion on this, but it may vary from each person. Actually he made a dogecoin, huge people invested their money by the trust on him. But some had earned huge at the beginning of that doge launch. After the marketing of doge coin was stopped by the Elon musk. It had reflected the market very huge. So if he launch based on twitter, their will good profit at the beginning. But it’s not good for long run. So make a short run profit as compared to the long in those projects.

It is less risky for Elon Musk to create a token for Twitter than to create a stable coin for Twitter.

In order to launch a stable coin, he must have a collateral for that stable coin and I don't believe Elon Musk have enough money for it. Furthermore, stable coin is risky to handle well and avoid de-peg problems.

Another reason is there is USDT from Tether, BUSD from Binance that can be used by Elon Musk and Twitter. They can simply add those stable coins as payment methods on Twitter, for buying Verified badges or Tips to other Twitter users and any feature can be launched in future. It is good enough to use available good ones rather than create your own.

BUSD is a good candidate because Elon has good connection with Changpeng Zao and even got a financial support from Binance for his deal to buy Twitter.

Elon musk is a potential investor that always look for were to invest his  capital and expect something good in the future that will bring benefits to him and his followers too. Elon musk has the money to create stablcoin but it will be difficult for him to spend amount of money on stablcoin, because him will not really make a good income from it like the way he is making income from other assets in the environment. Elon musk will not involve himself to a plan that will reduce his wealth than to look for other potential assets and invest to increase his wealth.

  - Most members here in this forum know that Elon Musk is only good at hyping using his influence and power because of the billions of dollars he has. But without his billion dollars, I don't think he will become famous.

Now, if he does create his stablecoins, no one can say whether it will catch on with the masses or the cryptocurrency world. Because currently, the only coins it often supports are meme coins. But let see what his plan really have in the future anyway.

I think Elon Musk wont be planning to create a stable coin for Twitter. By seeing how he tries to monetize, or economy on expenses Twitter has, I think he is possible to create an altcoin, instead of a stable coin. As a business man, he could earn more on altcoin prices changes (and there will always be sharp changes, as Elon likes to play with his supporters), then with stablecoin. Besides, I dont see Elon Musk and stablecoin stand together. Elon is a venturer, any kind of stability is not about him.

Maybe you are right but we never know exactly what is in his mind.
Yes, he is a venturer but keeps on increasing his business which is likely, but not impossible to create his own cryptocurrency. Maybe, in that case, he will give up and stop shilling Dogecoin anymore.

For now, it was still a puzzle for us what is really his intention acquiring Twitter and that is somewhat interesting to see for the incoming updates.

then what are Elon Musk's advantages when he has created a stablecoin for twitter and then has to pay for its use too. Remember that he is a businessman, he will not easily give you money. He would think about the benefits he would get. As the current legitimate Twitter owner Elon Musk is charging $8 for a blue tick, meaning he is concerned about the benefits and also realizes that those with blue ticks are famous people and also have a lot of money.

I would guess "printing" money and generating money are different things. If he somehow earns more from the world than he pays, that would be possible to do without needing to print money.

We all know of course he won't be paying that much money, but lets assume for a second that he prints 100 billion dollars, and sells it, and then he decides to give 8% return on it, first of all that is 8 billion a year extra, and he already sold 100 billion dollars worth, so he could use that added money to make an income, and the rest from tesla, twitter, spacex and many others he is making profit already, so could he do it? He might but we all know he won't, that would be idiotic.

And for what purpose to create another stable coin?? Are there really not enough of them on the market? But what's the point of creating another exactly the same coin? I don't quite understand why these Stablecoin are stamped! If this makes sense, then explain. Moreover, the competition among stablecoins in the market is already very strong.

I hope this is a troll post and not really a serious one. You do know that having everyone rich is going to be horrible and the economy will collapse right? If I can recall correctly, Elon would require verified users as well to pay for them to keep their blue ticks for some amount, not sure if it was $8 or lower/higher than that, but surely you got the idea that he is not going to pay his users.

You cannot trust rich person in the media to just let their wealth be shared, right? Sure we have poverty as one of the problems in the economy, but making everyone rich is not the way to solve it nor it is part of the solution.

I hope it is but you never know, just the idea of Elon creating his own stable coin is suspicious as we know what happened with the coin that Facebook was supposed to release and it never did, however the idea that somehow Elon could pay one million dollars to his users per day is simply impossible, Elon cannot even sustain that amount for a single day and I doubt he could even do this if the amount was lowered to a single dollar per user per day.

Whatever it is, what Elon Musk does in the world of crypto business might just become something hype and then disappear again. Maybe stable coins for twitter will work fine. However, instead of that, wouldn't it be better to just use Doge or Bitcoin so that it can help increase the price of Doge again? And what's more, too many stablecoins are used and this may not be too significant.

This may end the same, unsuccessful and then will be failed. Too complicated to create the stable coins, moreover, if this is about Elon Musk, there must be clearer concept, and also the backup of the stable coins itself, or this will be big problem again to face.

We have to quote that he is just a businessman and he has applied for an $8 monthly fee for a blue tick, the fee was never there before Elon became the owner of twitter, so it is highly doubtful he will ever release a stablecoin and I can't believe he decided to own a stable coin from twitter because stable coins need high liquidity to maintain their price. I hope he focuses on exploiting the use case of Doge coin for twitter instead of creating another coin that will be bad for the crypto market.

I don't think he'll going to do that he will be in a total mess even if he happens to be the richest man in the world

On the contrary, this guy is in the business of making money he is in fact charging each verified Twitter account $8 a month no way he is going to pay 1 million per user pay he is not running a charity you do not know Elon Musk or are you talking with a different Musk


They are both the same greedy people who will accumulate platforms on the internet to make themselves rich at the expense of their users so stop wishing that they will start making their platform a charity-based platform.

Whatever, it is your choice and you have the right for it.  But in order to convince us to follow your step you could have given a better reason why we should support Elon Musk if he creates stablecoin for Twitter.


From that example, we can say if Elon Musk implement stablecoin, it is to create more money for him.  So it would be a money making stablecoin for Elon Musk that is why I am thinking... what in it for us if we support it.

I have no idea what made you think Musk could issue a Twitter stablecoin because there is no real need for it. And even if these intentions were true, it is not as easy as some might imagine, because Twitter is an American company subject to American laws, and therefore Elon Musk cannot take this step by simply thinking about it. In addition, the platform supports Bitcoin (Lightning Network) and Ethereum, and one of them can be used or a fixed currency in the market can be used. Already, Elon Musk supports Dodge, and I think he would prefer to use Fiat money instead of getting involved in endless technical complications.

Apart from that, we also have to know that Elon is a businessman and of course he will always seek profit in everything he does and by doing this he is not just preparing for Hype again and again. Even if the goal is a stable coin, we also don't know what will happen next because this could only be an initial scheme and in the end it will still be a disposal after getting a lot of profit there.

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.

I think it's a really exciting thing for all Elon Musk supporters if he puts out a stable coin on Twitter.  Because after all Twitter is a global media and today's largest. So if Twitter has a stablecoin, it will be easier for it to grow quickly

I think he will not do this because he wanted to shil doge and if he thinking any coin to be accepted in Twitter it will be Dogecoin. Not biggest changes has been made in Twitter so far and may be it will release something new next year some special .

Was that Libra? I forgot what was the latest name of the coin called, lol. Not sure what happened, but it seems like it just flopped and they shifted their focus on metaverse from what I saw from Zuck's posts to his own page.
I do not even know where do people get the idea of Elon paying his users with millions of dollars. There are way better use of that money than just collapsing the economy from making everyone rich just for the sake of it.
We had enough of recessions/inflations and all those economic stuff that we're dealing with. :D

very true! Because at the first place elon intention on crypto currency is very clear, wherein to make huge income only not to sustain a stable coins for a platform even he owned twitter it still very impossible because it's literally a waste of time for him.  Probably making more meme project will become acceptable and it makes sense than doing that. Lol

I don't think you understand how this works.  With your explanation the price of the stablecoin will just dive into worthlessness.  Also why does he need to make a stablecoin based on Twitter to begin with lol?  The world just wouldn't become "richer".  That's literally impossible

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.

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

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.

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.

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.

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.

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.

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.

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?

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.

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?

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.

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.

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.

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.

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.

This sounds nonsense.   ???
$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.

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.

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.

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.

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.

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

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.

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

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

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

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

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

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

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

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

Right, that was what most people thought it would be, Dogecoin. At least we know how much Elon Musk promoted Dogecoin however, I think there might be a different coin cos just today I saw this video on Youtube (https://www.youtube.com/watch?v=Txd6UU3vL-I) of The Moon and Crypto-Kid talking about how someone had posted a thread they discovered on GitHub of a likely tweeter coin and also relating that to Elon's tweet some weeks ago about payments on tweeter, So it is really likely to see a tweeter coin some time down the line whether it be Dogecoin or a different tweeter coin but I don't think it will be a stablecoin.  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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