Elon Musk - Hinted that it would be nice if Twitter Ads be paid in Bitcoin

[Kakmakr]

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?

[Charles-Tim]

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.

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

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

[bustabitsboy]

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?

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.

[Hydrogen]

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

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

Pornhub, the popular adult entertainment site, has (at last) added bitcoin as a payment option.

Sep 2, 2020

https://www.coindesk.com/business/2020/09/02/pornhub-adds-bitcoin-and-litecoin-payments-for-premium-content/

Sometime around september 2020, pornhub added BTC support.

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



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

[MuffinMaster]

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?

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.

[Johnyz]

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.

[uneng]

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

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.

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

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.

[Lanatsa]

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.

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.

[hatshepsut93]

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.

[AmoreJaz]

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.

[kawetsriyanto]

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.

[coupable]

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)

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.

[Findingnemo]

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.

[Dhaniii]

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

[Pomogator]

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!

[kidbounty]

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

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.

[aprilnot]

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

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

Pornhub, the popular adult entertainment site, has (at last) added bitcoin as a payment option.

Sep 2, 2020

https://www.coindesk.com/business/2020/09/02/pornhub-adds-bitcoin-and-litecoin-payments-for-premium-content/

Sometime around september 2020, pornhub added BTC support.

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



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

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.

[Kakmakr]

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.

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)  

[Lucius]

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.

[Leviathan.007]

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.